After two years of optimization efforts, Rate CEO Victor Ciardelli talks about the public launch of the Rate Intelligence AI-powered lending platform. Chicago-based Rate was the eighth-largest mortgage lender in the country during the first half of 2024, according to estimates from Inside Mortgage Finance. On Wednesday, the company implicitly announced its intentions to grow […]
The third-quarter financials for Pennymac Financial Services illustrate the double-edged sword of declining interest rates for mortgage companies. It can improve loan production and acquisitions but hurt their servicing portfolios. When factoring both impacts on its earnings, the California-based lender delivered a profit of $69.4 million from July to September. That was less than its […]
Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls is the latest addition to a leadership team of seven executives at the developing company. Guaranteed Rate Affinity was formed in 2017 through a partnership between Rate, formerly branded […]
A new study from Morningstar focused on U.S. retirement readiness illustrates that while there has been some improvement over time, general retirement preparedness is lacking. Using data from the Federal Reserve’s Survey of Consumer Finances, Morningstar researchers analyzed data from 3,442 households before projecting 1,000 possible “life paths” for each of them. The company used […]
The Federal Housing Administration (FHA) this week announced two temporary policy waivers as the response to hurricanes Helene and Milton continues. The FHA’s 203(k) rehabilitation mortgage program currently has a requirement that “when a repair is considered ‘major,’ it becomes ineligible to be financed” as part of the 203(k) limited option, ”if the repairs prevent […]
If there’s one word that best encapsulates the current political climate, it might be “polarized.” People who are active in the political process are often tribal about their beliefs on how the country should be run, and that tribalism has manifested into political polarization that seems to be striking everywhere. But with only two weeks […]
In a recent episode of “The Loan Officer Podcast,” co-hosts Dustin Owen and John Coleman discuss key tips for loan officers when engaging in small talk with prospective clients. Owen and Coleman explore common discussion topics, conversational nuances and best practices for communicating with clients from different backgrounds. These questions and responses have been lightly […]
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. financial system, including the mortgage sector. But this rule has sparked mixed reactions within the industry, reflecting both enthusiasm and concerns. Announced on Tuesday, the new rule mandates that financial providers — including banks, credit […]
In the front-line city of Sumy, Ukraine, some residents are trying to create a sense of normalcy despite constant Russian shelling. One particularly determined Sumy native has created an oasis of art in his yard. Olena Adamenko has the story, narrated by Anna Rice. Camera: Yuriy Andriushchenko details ⇒ BusinessMediaguide.Com portal received this content […]
Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients. The technology, called “Recapture,” is integrated with the leading pricing engines, and it provides LOs with timely, accurate data that identifies multiple refi opportunities for clients. Unlike other industry […]
Unexpected financial hardships are an unfortunate but not uncommon challenge facing many homeowners. To help overcome these obstacles, Sagent has created its Dara Loss Mitigation platform as a solution that modernizes how homeowners and mortgage servicers address financial hardship. Modernizing the hardship application process Traditionally, applying for mortgage assistance has been cumbersome, involving extensive paperwork, […]
Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. And the Detroit-based lender believes it’s a “massive overreach.” On Monday, the U.S. Department of Justice—following a move made by the U.S. Department of Housing and Urban Development (HUD) in […]
As the year comes to a close, states are adding more down payment assistance (DPA) programs to help first-time buyers achieve homeownership. Down Payment Resource — a national database for connecting prospective homebuyers to financial assistance programs — recently released its newest Homeownership Program Index (HPI) report based on data collected in third-quarter 2024. The […]
Since 2019, the state of Florida has built more than 77,000 new properties in areas with a high risk of flooding. This is the most among all states, according to an analysis by climate-modeling firm First Street Foundation on behalf of the The Wall Street Journal. The construction activity is likely to place the housing […]
Mutual of Omaha Mortgage has been given more time to respond to allegations against it in a case that accuses the lender of operating manipulative websites that skew reverse mortgage reviews in its favor. The suit, brought by reverse mortgage competitor Longbridge Financial, alleges that Mutual of Omaha operates a series of websites that are […]
In a housing market shaped by uncertainty, military veterans and service members are emerging as some of the most confident and prepared homebuyers, outpacing their civilian counterparts. That’s according to a recent index released by Veterans United Home Loans to measure the financial health and optimism of veterans, active-duty service members and civilians in terms […]
In a high(er) rate environment, non-QM (non-qualified mortgage) lending continues to play an increasingly pivotal role. To explore how Acra Lending has adapted to these shifts, we sat down with Ryan Barrus, a key player in the company’s non-QM division. In this conversation, Ryan shares Acra Lending’s blueprint for broker growth, including insights on how […]
Horror movies topped the domestic box office charts, and an Oscar contender got off to a sparkling start this weekend. “Smile 2,” in its first weekend, and “Terrifier 3” in its second proved to be the big draws for general movie audiences in North America, while the Palme d’Or winner “Anora” got the best per-theater […]
NEW YORK — Cher, Mary J. Blige and Ozzy Osbourne were among this year’s Rock and Roll Hall of Fame inductees, an elite group formally introduced into the music pantheon Saturday at a star-studded concert gala. Kool & the Gang, Dave Matthews Band, Foreigner, A Tribe Called Quest, and Peter Frampton round out the 2024 class […]
Britain’s six-time Olympic track cycling champion Chris Hoy has revealed he has “two to four years” to live after he was diagnosed with terminal prostate cancer which metastasized to his bones. The announcement comes after the 48-year-old Scot said in February he was feeling “optimistic and positive” as he was undergoing treatment for an unspecified […]
KATHMANDU, Nepal — A Nepali teenager, the youngest person ever to scale all 14 of the world’s tallest peaks, says he wants to use his skills to benefit the Himalayan nation’s Sherpa community and turn out world-class athletes. Sherpas, an ethnic group living mainly in the vicinity of the world’s highest peak, Mount Everest, are known […]
California-based Provident Funding Associates LLC is getting out of the Florida condo lending business, it told broker partners on Friday. In an email sent Friday morning, Provident said that it would “no longer be accepting new applications for condominiums” effective that day. Provident told broker partners that all loans in the pipeline must be locked […]
When older homeowners wish to access a portion of their equity, there are multiple options. Of course, selling the home is generally not desirable. A cash-out refinance is also not a prudent pathway for retirees. A refinance not only saddles the homeowner with a required monthly payment but will also typically result in a higher […]
Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage and the Contingency Buster will be available to Ruoff Mortgage borrowers via the company’s […]
The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023. The report detailed FHLBanks’ activity across several programs that include the Affordable Housing Program (AHP), the Community […]
ISTANBUL — With a farewell song of “Good Vibrations” by the Beach Boys, a Turkish radio station fell silent this week after nearly 30 years of broadcasts. The final Acik Radyo broadcast on Wednesday came as a court upheld the Turkish media regulator’s order to revoke the Istanbul-based station’s license over the mention of “Armenian genocide” […]
The mortgage industry today demands speed, accuracy, and satisfied customers. ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. They’ve built a digital platform that brings together loan origination, closing, servicing, and data analysis into an all-in-one mortgage solution. This comprehensive system is aimed at making life […]
In this week’s episode of the Power House podcast, HousingWire President Diego Sanchez speaks with Steve Jacobson, CEO of Fairway Independent Mortgage Corp. The pair explore best practices for building a company culture surrounded by humility and loyalty, growth strategies, community engagement and more. The duo also discusses Fairway’s status as a top 15 mortgage […]
Former Open Mortgage executive Brenda Hedeen has been hired by Utah-based Canopy Mortgage as its new chief financial officer. “I was delighted when they reached out as I’ve had my eye on this group for years … they have it all: Techcentric, innovative, cost-effective, amazing culture, truly transparent pricing, engaged leadership and outstanding retail model. […]
The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). The report detailed FHLBanks’ activity across several programs that include the Affordable Housing Program (AHP), the Community Investment Program (CIP), the Community Investment […]
The U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) released a new report detailing what it says are the top management challenges for the department in fiscal year 2025 while also highlighting elements of progress made since the release of a prior report. The new report echoes some of […]
In a new episode of the “Real Estate Insiders Unfiltered” podcast, hosts James Dwiggins and Keith Robinson sit down with Pete Mills — senior vice president of residential policy and industry engagement at the Mortgage Bankers Association (MBA) — to discuss the housing affordability crisis in today’s complex real estate market. The group also discusses […]
The U.S. economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from […]
Buenos Aires, Argentina — The death of Liam Payne, who shot to stardom as a member of British boy band One Direction and grappled with intense global fame while still in his teens, sent shockwaves across the world Thursday as Argentine investigators continued their investigation at the scene. Fans, music-industry figures and fellow musicians paid tribute […]
Better Home & Finance, the parent company of digital lender Better.com, launched its voice-based artificial intelligence loan assistant on Thursday. According to the company, the assistant provides customers with “timely and accurate answers.” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on […]
BUENOS AIRES, Argentina — Former One Direction singer Liam Payne was found dead after the 31-year-old fell from his third-floor room balcony at a hotel in Buenos Aires, Argentine police said on Wednesday. Police said in a statement that they were called to the CasaSur hotel in the capital’s leafy Palermo neighborhood after being notified of […]
Speakers: Dan Snyder, CEO & Co-Founder at Lower Brett Ludden, Managing Partner at Sterling Point Advisors Dan Hanson, Executive Director, Enterprise Partnerships & Acquisitions at loanDepot James Kleimann, Managing Editor at HousingWire details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com
Sam Valverde, the acting president of Ginnie Mae, has overseen the work the government-owned company is currently engaging in to better improve the liquidity situation for the companies involved in the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program. These include efforts to establish an additional HECM-backed Securities (HMBS) instrument to complement what […]
Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank, has been reappointed to a new three-year term as a member of the U.S. Department of Housing and Urban Development (HUD) Housing Counseling Federal Advisory Committee (HCFAC). The committee is designed to advise HUD “by helping shape the direction of its Housing […]
United Wholesale Mortgage (UWM) announced on Wednesday that it’s offering a conventional cash-out loan product with a loan-to-value (LTV) ratio of up to 90% and no mortgage insurance. The announcement comes after interest rates have dropped and competition for refinances has increased. According to Michigan-based UWM, borrowers are historically limited to 80% LTVs for cash-out […]
In South Africa, and elsewhere on the continent, albino people are a target; they face daily discrimination and sometimes even death. But young social media influencers and artists are trying to change the narrative, as Kate Bartlett reports from Johannesburg. Videographer: Zaheer Cassim details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
Zimbabwe doesn’t have a thriving standup comedy scene tradition. But when Learnmore Jonasi was exposed to the art form in his native Zimbabwe, he knew that making people laugh was what he wanted to do. VOA reporter Keith Baptist caught up with him in Harare and has this story. details ⇒ BusinessMediaguide.Com portal received this […]
Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending October 11, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 17% on both a seasonally adjusted and an unadjusted basis from one […]
Fairway Independent Mortgage Corp. has agreed to settle with the Consumer Financial Protection Bureau (CFPB) and the U.S Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama, metro area. The agreement, which was submitted for court approval, requires the Madison, Wisconsin-based mortgage lender to pay […]
In the newest episode of the PowerHouse podcast, HousingWire CEO Clayton Collins sits down with Greg Schwartz, CEO of Tomo, to discuss market recovery indicators and Tomo’s recent investments in artificial intelligence (AI). Schwartz also shares his approach to building a mortgage company alongside tips on work-life balance, market dynamics and more. To start the […]