If Donald Trump wins a second term in the White House, he’s going to attempt to return Fannie Mae and Freddie Mac to private status after more than 16 years under federal conservatorship. That’s according to Mark Calabria, the former head of the Federal Housing Finance Agency (FHFA) under Trump. As for the mechanics of […]
The federal government is launching a campaign on Zillow to help provide housing counseling services to more Americans. The Department of U.S. Department of Housing and Urban Development (HUD) on Tuesday also will publish a new final rule in the Federal Register to expand accepted communication methods for counseling clients. Zillow advertising partnership Zillow is […]
The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C., former Federal Housing Financing […]
NEW YORK — Music mogul Sean “Diddy” Combs has been hit with three federal charges of racketeering conspiracy, sex trafficking and transportation to engage in prostitution, according to an indictment unsealed on Tuesday. Combs, 54, was arrested in Manhattan by federal agents on Monday night, following a year in which his career was derailed by several […]
Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco-based Unison calls its new offering the Equity Sharing Home Loan. The company explained that the product operates as a ”hybrid between debt and equity.” It’s initially […]
Anthony Casa, President & CEO of UMortgage, isn’t mincing words when it comes to the lending practices that often victimize our veterans. “Our veterans deserve better. Unfortunately, it’s far too common for lenders to prioritize their own profits over the financial well-being of those who have served our country,” Casa shares. “These lenders take advantage […]
The U.S. Department of Education announced today that it is awarding grants to eight Historically Black Colleges and Universities (HBCUs) under the Augustus F. Hawkins Centers of Excellence Program (Hawkins) and the Minority Science and Engineering Improvement Program (MSEIP). details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department […]
At the end of August, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage,” which includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. Jim Cory, managing director of Guild’s reverse division, previously spoke with HousingWire’s Reverse Mortgage Daily (RMD) […]
The country’s largest wholesale lender, United Wholesale Mortgage (UWM), has launched a broker training program that will teach individuals to become licensed mortgage originators. Dubbed “BrokerX,” the five-week program will provide existing brokers with a “streamlined solution” for training and licensing new talent without the use of their own training team. UWM announced the move […]
Hello Philadelphia! Hello HBCU family! Thank you, Sierra, for the kind introduction. Let’s give it up for all the White House HBCU Scholars here today. It’s great to be here in the City of Brotherly Love. The 46th President of the United States is on his way, but first let me first thank our White […]
Osaka, Japan — Japan celebrated on Monday the record-breaking Emmy Awards triumph of “Shogun”, although many confessed not having watched the series about the country’s warring dynasties in the feudal era. “Shogun” smashed all-time records at the television awards in Los Angeles on Sunday, taking home an astounding 18 statuettes and becoming the first non-English-language […]
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LOS ANGELES — “Hacks” won the comedy series at Sunday’s Emmy Awards, topping “The Bear,” which took home several of the night’s honors. “Shogun” won the best drama series win, collecting a whopping 18 Emmys for its first season, just one of several historic wins. Hiroyuki Sanada won best actor in a drama for “Shogun” on […]
Los Angeles — Hollywood will dole out the annual Emmy Awards, the highest honors in television, Sunday at a red-carpet ceremony where the historical drama “Shogun” and restaurant tale “The Bear” are poised to dominate the night. “Shogun,” a lavish epic about a power struggle in 17th-century Japan, is the front-runner to take the night’s top […]
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In what has become a familiar fall ritual, mortgage lenders are increasing their conforming loan limits months ahead of the FHFA’s official announcement. On Friday, Pennymac joined Rocket Pro TPO in announcing an increase in their conforming loan limit to $802,650 — before the expected increase by the FHFA in November. Pennymac’s increase will be […]
What is Art? It’s an age-old question: is it paint on canvas, ceramics or sculpture? The fun part is – art can be anything – and can even be created with a chainsaw. That’s the medium of one artist from the U.S. state of Virginia. Maxim Adams has the story. (Camera: Andrey Degtyarev; Produced by: Andrey […]
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MEJICANOS, El Salvador — From the window of her tin-sided shop outside El Salvador’s capital, San Salvador, Esmeralda Quintanilla watches artists get to work in her neighborhood on walls still pockmarked by bullet holes from the country’s civil war and gang conflict. Armed with brushes, paint and spray cans, muralists and graffiti artists have already covered […]
Mosul, Iraq — If they had tried to do this a few years ago, the group of Iraqi women enjoying a night out in Mosul would probably have risked severe punishment. The northern city was under the harsh rule of the Islamic State group until the jihadists were ousted from their last major Iraqi bastion in […]
FORT LAUDERDALE, Florida — Ballet dancer Michaela Mabinty DePrince, who came to the United States from an orphanage in war-ravaged Sierra Leone and performed on some of the world’s biggest stages, has died, her family said in a statement. She was 29. “Michaela touched so many lives across the world, including ours. She was an unforgettable […]
LONDON — Prince Harry was always something different. From the moment he first appeared in public, snuggled in Princess Diana’s arms outside the London hospital where he was born in 1984, Harry was the ginger-haired scamp who stuck his tongue out at photographers. He grew to be a boisterous adolescent who was roundly criticized for wearing […]
RIO DE JANEIRO — Brazil formally received on Thursday the return from Denmark of an Indigenous cloak made with 4,000 red feathers of the scarlet ibis bird, a sacred mantle that was taken by Europeans during the 17th century colonial era. President Luiz Inacio Lula da Silva attended the ceremony outside Brazil’s National Museum in Rio […]
Tokyo — The samurai in Shogun don’t swing their arms as they walk — just one of many authentic historical details that have helped make the hit television drama this year’s top Emmys contender. The period drama, praised for its meticulous approach to accuracy, made TV history with 25 Emmy nominations, and has already swept up […]
At the end of August, the District of Columbia Housing Finance Agency (DCHFA) announced that it had relaunched its Reverse Mortgage Insurance & Tax Payment Program (ReMIT), which originally began in 2019 and expanded in 2020 before being halted at the end of 2021. Tikisha Wilson, director of single-family programs at DCHFA, sat down with […]
The Congressional Budget Office (CBO) released a new report that estimates the benefit payment schedule of the Social Security program, saying that the Old-Age and Survivors Insurance (OASI) Trust Fund will “decline to zero” in fiscal year 2034 and the Disability Insurance (DI) Trust Fund will do the same in 2064. The report is based […]
The Federal Housing Administration (FHA) this week published a newly proposed Mortgagee Letter on its Single Family Drafting Table, which would align mortgage borrowers and originators in their understanding of how much is owed on a partial claim. Partial claims are designed to offer assistance to mortgage borrowers who have fallen behind on their monthly […]
Buffalo, New York-based mortgage technology firm LenderLogix, a top provider of point-of-sale (POS) and automation software for independent mortgage banks, commercial banks and third-party brokers, announced Thursday that Ben Head will join the company as an account executive. Head will be responsible for expanding the firm’s market share as he moves over from Enact Mortgage […]
Allies of former President Donald Trump are developing plans to move government-sponsored enterprises Fannie Mae and Freddie Mac out of federal conservatorship, a long-sought goal of certain politicians and a move that would have a notable impact on the mortgage finance industry. The news was first reported by the The Wall Street Journal (WSJ). “Former […]
“Law & Order: Special Victims Unit” has just been renewed for its 25th season. It is the longest-running prime-time drama on U.S. television. The show’s lead character, Captain Olivia Benson, played by Mariska Hargitay, has become such a fixture in American life she was recently honored by the Smithsonian’s National Museum of American History. VOA’s […]
Rocket Pro TPO, the wholesale arm of Rocket Mortgage, upped its agency conforming loan limits to $802,650 in 48 states, ahead of an announcement by the Federal Housing Finance Agency (FHFA) that is expected in November. For Alaska and Hawaii, the ceiling on loans originated by Rocket Pro TPO and purchased by Fannie Mae and […]
Singapore — Pope Francis wrapped up an arduous 12-day tour of the Asia-Pacific on Friday, defying health concerns to connect with believers from the jungle of Papua New Guinea to the skyscrapers of Singapore. The 87-year-old pontiff flies home to Rome from Singapore, completing his longest trip in duration and distance since he became head of […]
By: Gabriel O. Bermea Hispanic-Serving Institutions (HSIs) are colleges and universities where at least 25% of the undergraduate full-time student population is Hispanic. HSIs make up about 20% of all higher education institutions in the United States, yet they enroll 63% of today’s Latino undergraduate students. As a result, HSIs bear the significant responsibility of […]
The parties involved in a lawsuit between Texas Capital Bank (TCB), the U.S. Department of Housing and Urban Development (HUD) and Ginnie Mae over a dispute involving Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) have been advised to be ready for a trial in September 2025. This is according to court filings reviewed by HousingWire’s […]
Baby boomers are a key constituency for the reverse mortgage industry since they are currently the generation with the largest share of the population at or above the age of 62. A recent SmartAsset analysis of 2023 Home Mortgage Disclosure Act (HMDA) pinpointed where boomers are most active within the U.S. housing market. “Retirement often […]
Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. That’s according to a Zillow report released Thursday in which the Seattle-based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that Legacy Traditional Schools (LTS), a network of 22 charter schools in Arizona, entered into a resolution agreement to comply with Title VI of the Civil Rights Act of 1964 (Title VI) and its regulations by providing language assistance to national origin minority […]
Home equity continued to rise in the second quarter of 2024 as residential properties with mortgages collectively gained $1.3 trillion in equity over the past year. But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. The aggregate equity gain was 8% year over year, […]
The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors. The CFPB’s investigation found that for several years, TD Bank repeatedly gave inaccurate account information to consumer reporting companies, which at times […]
Today, the U.S. Department of Education’s Office for Civil Rights (OCR) released two new resources to help schools comply with the 2024 amendments to Title IX Regulations, which went into effect Aug. 1, 2024. The resources explain how the 2024 Title IX Regulations clarify and update longstanding obligations related to Title IX coordinator duties, as […]
First launched in April of 2020, the Pass-Through Assistance Program (PTAP) was an important initiative designed to provide mortgage servicers with the liquidity needed to endure the financial challenges due to the COVID-19 pandemic. As millions of borrowers struggled to meet their mortgage payments, PTAP served as a lifeline, ensuring that servicers could meet their […]
ICE Mortgage Technology will be sunsetting legacy integrations for its flagship Encompass platform by Oct. 31, 2025, which will modernize the mortgage market even if some vendors have to go kicking and screaming. In an email to partners on Tuesday, ICE said that it will be closing down the Encompass SDK (Software Development Kit) on […]
California-based mortgage lender loanDepot appointed Nancy Smith to lead its Colorado and Wyoming branches as regional vice president of in-market retail. Smith will be responsible for growing sales volume in Colorado, which has the sixth-fastest percentage rate of population growth of all states, and Wyoming, a market traditionally underserved by independent mortgage banks, loanDepot said […]
CMG Home Loans, the retail lending division of CMG Financial, recently made a key hire in its reverse mortgage division by adding industry veteran Kari Van Kleef as its operations manager. The move comes as the company broadens its ambitions for the reverse mortgage division, aiming to put its 1,400 traditional mortgage originators to work […]
By this point, the information should be second nature: Aging in place is an increasingly common desire among homeowners who want to save money, avoid costly assisted-living facilities, stay connected to their communities or all of the above. As the preference grows, one group — homebuilders — is uniquely positioned to address these desires and […]