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 […]
Brian McKinney, formerly the CEO of Benchmark Mortgage (a dba of Ark-La-Tex Financial Services), has joined PrimeLending in a newly created executive position. McKinney, who’s been CEO of Benchmark since 2016, will serve as executive vice president for growth and strategic development at PrimeLending. He’s tasked with exploring new revenue opportunities and driving company growth. […]
In the third quarter of 2024, Bank of America (BofA) saw a decline in mortgage production, despite a drop in interest rates that benefited competitors like Wells Fargo, JPMorgan Chase and Citi. BofA announced on Tuesday that it posted $5.3 billion in first-lien mortgage volume from July to September, a 7% decline from the $5.7 […]
West Palm Beach, Florida-based Onity Group has struck a deal to acquire all assets of Mortgage Asset Management (MAM), which are estimated at a net value of $55 million, the company announced on Friday. The parties entered into an agreement on Oct. 9. The deal includes Home Equity Conversion Mortgages (HECMs) and mortgage servicing rights (MSRs) […]
Fannie Mae on Tuesday announced enhancements to its Expanded Housing Choice (EHC) initiative, opening it up to all jurisdictions without source-of-income protections. The government-sponsored enterprise (GSE) said the Housing Choice Voucher program, which launched in 2022, assists very low-income families, seniors and people with disabilities in being able to afford stable and quality housing in […]
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HIROSHIMA, Japan — Almost eight decades after an atomic bomb devastated her hometown of Hiroshima, Teruko Yahata carries the scar on her forehead from when she was knocked over by the force of the blast. The U.S. bombs that laid waste to Hiroshima on the morning of August 6, 1945, and to Nagasaki three days later, […]
new orleans, louisiana — Louisiana’s Cajun and Creole heritage takes center stage this weekend when the Festivals Acadiens et Creoles marks a half-century of honoring and celebrating the culture through music, arts, food and community. What started as a one day concert in 1974 to entertain 150 French-speaking journalists gathered in Lafayette — considered the heart […]
CoreLogic’s risk index rose 8.3% in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% year over […]
The U.S. Department of Justice (DOJ) announced on Thursday a $6.5 million agreement with Citadel Federal Credit Union to settle allegations of lending discrimination in certain neighborhoods of Philadelphia with majority Black and Hispanic populations. This is the DOJ’s first redlining settlement involving a credit union. The sector includes 4,600 financial institutions across America, which […]
Mortgage business has increased recently for Wells Fargo head Charlie Scharf, left, and JPMorgan Chase CEO Jamie Dimon, but will it last? JPMorgan Chase and Wells Fargo are starting to feel the effects of the Federal Reserve’s 50-basis-point rate cut in September on their mortgage businesses. On Friday, both banks reported an uptick in home […]
Mortgage solutions provider Floify is now going to go toe-to-toe with Equifax‘s oft-maligned workplace verification provider The Work Number, which has been criticized by mortgage lenders and regulators for years of cost increases. Floify is the first point-of-sale system (POS) to introduce a native electronic verification of income and employment service, Sofia Rossato, the president […]
From pop superstar Taylor Swift to former wrestler Hulk Hogan, celebrity endorsements have been a feature of this year’s U.S. presidential race. But whether they will have any kind of impact on the election is difficult to predict. VOA’s Veronica Balderas Iglesias reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
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seoul, south korea — South Koreans flocked to bookstores Friday and crashed websites in a frenzy to snap up copies of the work of novelist Han Kang in her home country, after her unexpected win of the 2024 Nobel Prize in Literature. However, the author herself was keeping out of the limelight. The country’s largest bookstore […]
WINTER PARK, Florida — Many Jews worldwide will mark Yom Kippur in fasting and prayer at their synagogues this weekend. But for the faithful in Florida, destructive Hurricane Milton has disrupted plans for observing the Day of Atonement — the holiest day of the year in the Jewish faith — that begins Friday evening and caps […]
Taipei, Taiwan — Organizers of Taiwan’s premier film festival report a huge increase this year in entries from China, despite a ban imposed by Beijing six years ago on participation in the festival by Chinese filmmakers and actors. As many as 100 Chinese entries had been submitted for Golden Horse Awards in recent years, in defiance […]
Federal Housing Administration (FHA) Commissioner Julia Gordon and David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Department of Housing and Urban Development (HUD), described a need for more reverse mortgage comprehension during an interview at this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San […]
What do you get when you combine home renovation specialists with a lender that can provide funds in short order? The new partnership between HouseAmp and Renovation Sells. The technology companies will tether their respective services with the goal of streamlining the process of getting a home ready for sale. The Renovation Sells platform focuses […]
Ongoing supply and affordability challenges in the housing market have frustrated many homeowners who have looked to trade up or relocate for various reasons. In response, some consumers have turned to renovation projects to meet their needs. According to survey data released this week by St. Louis-based Clever Real Estate, 63% of homeowners would rather […]
Agents and LOs are grasping with heavily damaged housing markets in the Southeast. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=1024″ tabindex=”0″ role=”button” src=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?w=1024″ alt=”housing-markets-in-the-aftermath-of-Helene-and-Milton.” class=”wp-image-486254″ srcset=”https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=150,84 150w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=300,169 300w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=768,432 768w, https://www.housingwire.com/wp-content/uploads/2024/10/housing-markets-in-the-aftermath-of-Helene-and-Milton.jpg?resize=1024,576 1024w” sizes=”(max-width: 1200px) 100vw, 1200px”>Agents and LOs are grappling with heavily damaged housing markets in the Southeast. Housing markets in the Southeast are reeling from […]
Real estate data provider CoreLogic is unveiling a new artificial intelligence-powered property and location intelligence platform. The California-based company is launching the Araya platform, according to an announcement on Tuesday. Through Araya, CoreLogic will give customers access to the data and analytics of nearly all U.S. properties on one platform. The platform is intended for […]
Similar to past experiences, Hurricane Helene may lead to 5% of mortgage borrowers in affected areas becoming delinquent but eventually self-curing over the next 12 months, according to a Bank of America (BofA) analysis. The hurricane, which made landfall in Florida in late September, also impacted parts of North Carolina, South Carolina, Virginia and Georgia. […]
If there was any doubt that the Federal Reserve’s half-point interest rate cut was the right move, those doubts are fading, and there’s reason to support another cut in the coming months. That’s because the U.S. Bureau of Labor Statistics’s Consumer Price Index (CPI) for September fell by 0.1 percentage points compared to August and […]
The vibrant world of yellow-skinned giants, surreal landscapes and a massive mechanical zoetrope have taken over the Hirshhorn Museum in the largest U.S. showcase of work by Brazilian twin brothers OSGEMEOS. It’s the most comprehensive display of the siblings’ art ever presented in the United States. Maxim Adams has the story. Camera: Sergii Dogotar. details […]
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“Rules of the Game,” a popular interactive session from past annual meetings of the National Reverse Mortgage Lenders Association (NRMLA), returned in 2024 to the San Diego event that took place at the end of September. Hosted by reverse mortgage educators Dan Hultquist and Jim McMinn, the pair aimed to once again point out how […]
The home insurance marketplace has been facing a reckoning. The challenges that higher costs place on carriers, regulators, lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. The arrival of Hurricane Helene late last month threatens to exacerbate the situation in the states […]
After reaching their highest level since July 2022, mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% on a seasonally adjusted basis during the week ending Oct. 4. This included a […]
In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. To start the episode, Owen dives into media misconceptions concerning the Federal Reserve’s interest rate cuts and their impacts on […]
Mr. Cooper Group has made some changes to its technology leadership, led by the promotion of Sridhar Sharma to the roles of executive vice president and chief innovation and digital officer, the company announced on Wednesday. Sharma has been the company’s chief information officer for the past decade, leading the development of Pyro AI, the […]
Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans. “There is no other automated underwriting technology […]