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Mortgage rates have declined for six straight weeks, pushing loan application volume up 1.4% during the week ending Sept. 6, according to the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found that the seasonally adjusted refinance index increased 1% from the […]

As the mortgage industry continues to evolve at breakneck speed, risk management has never been a more critical lynchpin in the lending ecosystem. At the vanguard stands Mortgage Connect Risk Solutions (MCRS), formerly Adfitech, a leader in risk management, quality control, third-party reviews, and due diligence, known for protecting mortgage lenders and investors from the […]

Tuesday night’s presidential debate — which could be the only one of this election cycle between the Democratic and Republican nominees for the highest office in the land this November — featured a spate of fiery moments between the two candidates. Housing, which has become an issue of focus in the campaign, was mentioned a […]

In a little more than a week, Federal Reserve policymakers are poised to lower benchmark interest rates for the first time since the start of the COVID-19 pandemic. Ahead of that decision, mortgage rates continued to decline, although a surge of borrowers has yet to appear. At HousingWire‘s Mortgage Rates Center on Tuesday, the average […]

In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. But if prior suppositions about this trend being overblown failed to convince people, new data might make things clearer. More than half […]

Rocket Companies, the parent of Rocket Mortgage, has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. Rocket aims to double its current market share in purchase mortgages from 4% to 8% and expand its refinance share from 12% to 20%, executives […]

Michael Barr, the Federal Reserve‘s vice chair for supervision, on Tuesday spoke at the Brookings Institution in Washington, D.C., about the 2023 Basel III Endgame proposal, which would modify risk-based capital requirements for large banks. Following an extensive review process that included stakeholder comments in the intervening time — including what Barr called “productive meetings […]

Mortgage capital markets technology firm Polly has raised $25 million to invest in research and development, product innovation and expansion, the company said on Tuesday. 8VC led the latest equity investment with participation from existing investors Menlo Ventures, Meritech, Khosla Ventures and Fifth Wall. Polly has increased its locked loan volume by more than 150% […]

After several months of searching, Freddie Mac has found a new CEO, announcing on Tuesday the hiring of former PNC Financial Services executive Diana Reid. The government-sponsored enterprise (GSE) had been without a permanent CEO since March, when Michael DeVito retired after three years on the job. Michael Hutchins took over the role on an […]

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. And Rohit Chopra, the hard-charging director of the Consumer Financial Protection Bureau, who is often the target of such complaints, apparently agrees. At least when it comes to redundancies with […]

Last week, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage.” The brand includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. After acquiring the robust reverse mortgage division of Cherry Creek Mortgage in early 2023, Guild has used its […]

Better Home & Finance Holding Co., the parent of digital lender Better.com, rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment, reduce their interest rate, shorten their loan term or get […]

Publicly traded real estate software firm reAlpha Tech Corp. added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. reAlpha agreed to pay Be My Neighbor an aggregate purchase price of up to $6 million. This consists of $1.5 million in cash paid on the closing date, $1.5 million […]

Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market. Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire.  Kevin Leibowitz, president […]

Aging in place continues to be the preference for the vast majority of older Americans. But the financial and emotional ramifications of staying in one’s current home, rather than moving to a nursing home or assisted-living facility, can be a heavy burden. The Wall Street Journal highlighted aging-in-place issues this week by interviewing several families […]

The reverse mortgage industry is pressing ahead with a chance at lower interest rates later this month. While there were signs of weakness in performance metrics in August, there are also commensurate signs of encouragement, according to industry experts. Home Equity Conversion Mortgage (HECM) endorsements fell by 3.3% from July to August, with the total […]

In an industry where managing a web of technology vendors to support LO’s sales and marketing needs has become overwhelmingly complex, inefficient and creates unnecessary security and compliance risks, CANDID is quickly becoming a leader in transforming how mortgage lenders operate. With its new partnership with Atlantic Bay Mortgage Group, CANDID is set to make […]

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. Buyers using FHA loans often face stigmas and cannot use many of the competitive strategies commonly utilized by conventional borrowers and cash buyers, according to […]

Dan Snyder rarely steps into the spotlight, but his name, strategic moves and execution are talked about frequently in mortgage banking circles. This changes on Oct. 1, 2024, when Snyder, the CEO of Lower, steps on to the main stage at the George W. Bush Presidential Library in Dallas for the HousingWire IMB Summit.  A […]

Retirement in America comes with a lot of concerns related to finances and health, with both of these issues often being intertwined. Long-term care is emerging as a key concern for older Americans, especially since its costs will most likely need to be covered from a fixed income. This is one reason why home equity […]

U.S. home-price growth is predicted to finish this year at 4.7% before slowing to 3.1% in 2025, according to a quarterly survey of housing experts conducted by government-sponsored enterprise (GSE) Fannie Mae. The third-quarter 2024 survey polled more than 100 mortgage, real estate and academic experts to determine its predictions in partnership with data analytics […]

Mortgage lender and servicer OCMBC has acquired HomeStar Financial Corp., marking a significant expansion across the country.  The acquisition formally closed on Aug. 29, OCMBC announced Thursday. The terms of the deal were not disclosed.  “Their extensive experience in servicing and their commitment to providing outstanding customer service align perfectly with our values at OCMBC,” […]

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. Nearly all of the companies analyzed that provide home equity lending have a digital application process, while about half incorporate a soft credit pull before they fully underwrite these loans, according to a […]

The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-18, which implements updates to debenture interest rates and reimbursements for Home Equity Conversion Mortgage (HECM) program claims proposed in July. The ML goes into effect on Sept. 28. Debenture interest refers to the percentage of a return that an investor would receive for […]

Mortgage demand rose slightly last week as mortgage rates moved lower. Loan application volume increased 1.6% on a seasonally adjusted basis for the week ending Aug. 30 compared to the previous week, according to the Mortgage Bankers Association (MBA). The MBA’s refinance index decreased 0.3% from the previous week but was 94% higher than the […]