Now that he has been confirmed and sworn in as the 19th secretary of the U.S. Department of Housing and Urban Development (HUD), Scott Turner said he plans on moving to act on what he calls a Trump administration priority — privatization of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. A name change […]
A panel of housing agency leaders talking about new mortgage servicing priorities under the second Trump administration was scheduled to last a full hour. It went about 30 minutes before the moderator conceded that the panelists simply didn’t have a lot to say about those priorities. The truth is, they really don’t know yet. At […]
On Thursday, PennyMac Financial Services Inc. announced the launch of its full-service, nondelegated mortgage solution, NonDel+, an end-to-end loan experience within its dynamic POWER+ portal. According to a company press release, the new product is “specifically tailored to banker partners who value control over their loans, but desire support with disclosures, loan documents and additional […]
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% — higher than it was during the 2008 market crash. If that’s not enough, affordability is still a distant dream […]
It all started with sponge and a bucket of soapy water. Recently, I helped hand-wash the Vietnam Veterans Memorial in the District of Columbia. I honored my fellow service members and Naval Academy classmates who protected our country. I stood alongside Jan Scruggs, founder of the Vietnam Veterans Memorial. At that moment, the legacy of […]
Here’s a hypothetical scenario: Let’s say the staffers at the Consumer Financial Protection Bureau (CFPB) remain forbidden to work until Jan. 21, 2029. What would the mortgage servicing regulation landscape look like? At the Mortgage Bankers Association‘s Servicing 2025 Expo in Dallas on Wednesday, top servicing executives said that even in a friendlier regulatory environment, […]
Digital mortgage lender Better on Wednesday announced the launch of a loyalty program dubbed “Better Forever.” The program is designed to reward customers by waiving origination fees on future refinance or purchase loans. Customers who previously funded a loan through Better on or after Jan. 1, 2019, are automatically enrolled in the program. “We are […]
The number of family caregivers who support older relatives in either home-based or residential care settings increased by 32% between 2011 and 2022 — a sharp rise that can be attributed to an increase in the number of caregivers living with recipients. Researchers also say this could be partially tied to rising preferences for aging […]
The U.S. Senate on Wednesday voted to confirm Scott Turner as the 19th secretary of the U.S. Department of Housing and Urban Development (HUD). Turner cleared the confirmation process in a vote of 55-44 that was almost entirely along party lines. Two Democrats, John Fetterman (Pa.) and Peter Welch (Vt.), crossed the aisle to vote […]
Mortgage applications increased 2.2% on a seasonally adjusted basis from last week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending January 31, 2025. On an unadjusted basis, the index measuring applications increased 19% compared with the previous week. The refinance index increased 12% from the previous […]
The U.S. and Canadian real estate markets are unstable amidst increasingly severe climate risks — including floods, wildfires, and hurricanes. This necessitates a radical re-think of common risk management strategies. While both nations share climate vulnerabilities, distinct regional risks pose challenges for property values and mortgage lending. Property values: Impact and implications U.S. property values […]
A bill introduced in January to the New York state Senate is seeking to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product, as well as the obligations that a borrower assumes when engaging with the industry. This is according to the text […]
Arrival Home Loans on Tuesday announced a partnership with zavvie — a fintech company that specializes in bringing liquidity to residential real estate — in an effort to enhance the homebuying experience for its customers. The collaboration combines Arrival Home Loans’ niche in owner-occupied bridge loans with zavvie’s advanced technology platform for single-family homes. In […]
Mortgage technology technology Optimal Blue on Tuesday announced a series of new products and innovations at its inaugural Optimal Blue Summit user conference in San Diego. The company first announced the launch of a new artificial intelligence-powered assistant. The new product, dubbed Ask Obi, will primarily benefit mortgage executives by offering insights and data drawn […]
The so-called “silver tsunami” — referring to some kind of “rush” of older people into certain places, out of the workforce or to their housing stock, depending on who you talk to — is likely to have serious economic ramifications with negative potential, or a lot of upside potential due to the ways in which […]
The long-term cost of a home loan remains above 7%, but the trendline is moving in a positive direction for consumers and lenders even after the Federal Reserve paused its rate-cutting cycle last week. Data at HousingWire’s Mortgage Rates Center shows that rates for 30-year conforming loans averaged 7.10% on Tuesday, down 4 basis points […]
Cornerstone Capital Bank, a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. The new division will be based in Arlington, Texas. Cornerstone plans to close the homeownership gap for underserved communities in the 45 states that the company operates in. According to the […]
Ukrainian culture is booming amid the war with Russia. That’s despite the constant rocket attacks and damage to almost 500 heritage sites, according to UNESCO. Experts say Ukrainians have never been as interested in their own culture as they are now. As Lesia Bakalets reports from Kyiv, almost any event is sold out, especially in […]
In February 2024, Sagent, a Warburg Pincus-backed fintech firm, announced the launch of its mortgage software platform, Dara. A year later, HousingWire checked in with the Dara team about what lies ahead. “We previewed the Dara platform in February of 2024 at the MBA servicing conference,” said Perry Hilzendeger, Sagent’s executive vice president of servicing. […]
NEW YORK — A violin made by the famed Antonio Stradivari in 1714 has the potential to become the most expensive musical instrument ever sold when it goes up for auction Friday at Sotheby’s in New York. The auction house is estimating the value of the “Joachim-Ma Stradivarius” at $12 million to $18 million. If it […]
LOS ANGELES — The Super Bowl isn’t just a game on Sunday, it’ll involve a nearly weeklong spectacle taking over New Orleans with non-stop entertainment leading up to the big showdown between the Kansas City Chiefs and Philadelphia Eagles. While the Chiefs and Eagles gear up for their championship rematch, the Big Easy will be the […]
In his first official action as acting director of the Consumer Financial Protection Bureau (CFPB), Scott Bessent ordered staffers to stop bureau activities, including the issuance of final rules, settlement enforcement actions, or participation in legal cases. Agency staffers have also been instructed to suspend the effective date of any final rules that have not […]
The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. The company’s newest National Housing Market Outlook shows that buyers are gravitating toward government-backed loans in their search for affordability. […]
The Tech100 Mortgage award recognizes the most innovative and impactful organizations driving the mortgage industry forward. More than just an accolade, this award highlights organizations that are transforming the housing sector—enhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending. Now in its 13th year, the Tech100 program serves as a […]
The Consumer Financial Protection Bureau (CFPB) announced on Monday that Scott Bessent, the recently appointed secretary for the U.S. Department of the Treasury, will also serve as acting director for the CFPB following the firing of Rohit Chopra over the weekend. “On Jan. 31, 2025, President Trump designated Secretary of the Treasury Scott Bessent as […]
The hits keep coming for now-defunct residential sale-leaseback platform EasyKnock. After the company failed to have new council file an appearance, the court dismissed EasyKnock’s defamation lawsuit against law firm Feldman & Feldman last Monday. Originally filed by EasyKnock in Nov. 2021 in federal court in Houston, the suit accused Feldman & Feldman of defaming […]
Paris — A Paris court found a filmmaker guilty of sexual assault on French actor Adèle Haenel when she was between 12 and 15 in the early 2000s, in the country’s first big #MeToo trial. Filmmaker Christophe Ruggia was sentenced Monday to two years under house arrest with an electronic bracelet plus a two-year suspended sentence. […]
The current environment of mergers and acquisitions (“M&A”) is evolving. There is constant movement in the mortgage industry with the desire for growth and expansion. It is easy to become blinded by the end goal of increasing loan volume and quality origination talent. Thus, it has never been more important to focus on due […]
LOS ANGELES — Chappell Roan was named best new artist at the 2025 Grammys. She read a speech from a notebook, beginning by addressing her fellow nominees. “BRAT was the best night of my life this year,” she said, as her hat fell off her head, referencing Charli xcx. Then her speech changed course. She directed […]
Los Angeles — Former President Jimmy Carter has won a posthumous Grammy award. Carter, the peanut farmer who won the presidency in the wake of the Watergate scandal and Vietnam War, died in December at age 100. Prior to his passing, Carter was nominated in the audio book, narration, and storytelling recording category at the 2025 […]
Rachel Handlin is an example of what’s possible when someone pursues their dreams. Handlin may be the first person on the planet with Down syndrome to earn a Master of Fine Arts. She also had her first public solo photo exhibit in Manhattan. Anna Nelson has the story, narrated by Anna Rice. Camera: Vladimir Badikov. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
New York — DreamWorks Animation’s “Dog Man” fetched $36 million in ticket sales at the weekend box office, according to studio estimates Sunday, making it the biggest debut yet in 2025. It was a big opening for the Universal Pictures release adapted from the popular graphic novel series by author Dav Pilkey. The big-screen launch for […]
LOS ANGELES — The Grammy Awards take center stage in Los Angeles on Sunday at a celebration that will honor the best of music while acknowledging the deadly wildfires that scarred a hub of the industry. Beyonce will compete for the top Grammy prize of album of the year with her country record “Cowboy Carter.” The […]
ROME — Pope Francis has long urged couples to marry and have babies rather than dogs. And he has long championed the rights of workers and held up labor itself as the foundation of human dignity. So it has come as something of a surprise to many in the Holy See that the Vatican bank fired […]
WELLINGTON, NEW ZEALAND — A mountain in New Zealand considered an ancestor by Indigenous people was recognized as a legal person on Thursday after a new law granted it all the rights and responsibilities of a human being. Mount Taranaki — now known as Taranaki Maunga, its Maori name — is the latest natural feature to […]
A group of state representatives in Hawaii have introduced a new bill into the legislature, calling for the establishment of a state-specific Home Equity Conversion Mortgage (HECM) program to be managed by the Hawaii Housing Finance and Development Corp. (HFDC). This is according to the text of the bill reviewed by HousingWire’s Reverse Mortgage Daily […]
Alanna McCargo, the most recent Senate-confirmed president of Ginnie Mae who departed last year to become president and CEO of the Federal Home Loan Bank (FHLBank) of San Francisco, has left the bank’s leadership team to assume a new policy position working with the chair of the board of directors. Joseph E. Amato, the bank’s […]
PennyMac Financial Services Inc. reported Thursday that it earned $104.5 million in net income during the fourth quarter of 2024 on revenue of $470.1 million. It’s an about-face for PennyMac after it posted a net loss of $36.8 million in Q4 2023. For 2024 as a whole, the California-based lender earned a profit of $311.4 […]
NEW YORK — Dick Button was more than the most accomplished men’s figure skater in history. He was one of his sport’s greatest innovators and promoters. Button, winner of two Olympic gold medals and five consecutive world championships, died Thursday, said his son, Edward, who did not provide a cause. He was 95. As an entrepreneur […]
Sage Home Loans Corp. recently hired Bijoy John as its new senior vice president of marketing. John expressed his excitement over joining Sage and implementing his vision at the company. Bijoy John Sage’s senior leadership team welcomed John with open arms, praising his track record of successfully reaching consumers. John will reportedly focus on leading […]
Britannica, the English-language encyclopedia that has roots as far back as the 1760s, recently highlighted a phrase familiar to the reverse mortgage industry — the “sandwich generation” — in recognition of the growing importance that caregiving for older relatives will have as the global population grows older. Highlighted on Britannica Money, an online portal designed […]
In this week’s episode of the Power House podcast, host and HousingWire President Diego Sanchez chats with Tom Davis, chief sales officer at Deephaven Mortgage. In this conversation, the duo explore niche lending, second lien product opportunities and demand for non-QM. Deephaven’s focus on non-QM lending is expected to drive its volume past $80 billion […]
PRAYAGRAJ, INDIA — At least 30 people were killed and many more injured in a stampede at the world’s largest religious gathering early Wednesday, police said, as millions of pilgrims rushed to dip in sacred waters during the Maha Kumbh festival in northern India. Police officer Vaibhav Krishna in Prayagraj city said another 60 injured were […]
The Mortgage Bankers Association (MBA) approves of Donald Trump’s nominee for director of the Federal Housing Finance Agency (FHFA). In a letter addressed to the Senate Committee on Banking, Housing and Urban Affairs, the MBA gave a strong endorsement of Bill Pulte to lead the FHFA. In that role, Pulte would oversee government-sponsored enterprises (GSEs) […]
A securitization of private reverse mortgages originated by Reverse Mortgage Funding (RMF) will require additional review due to the lender’s 2022 bankruptcy, according to a statement on the securitization issued by credit rating agency KBRA. “RMF Proprietary Issuance Trust 2019-1 (RPIT 2019-1),” which saw ratings assigned by DBRS Morningstar in mid-2020, has a key indenture […]