VIENNA, AUSTRIA — The 19-year-old Austrian who masterminded a foiled plot to attack Taylor Swift fans at a concert in Vienna with a bomb or knife had pledged allegiance to the Islamic State militant group, authorities said on Thursday. The main suspect, who has North Macedonian roots, made a full confession in custody, Austria’s general director […]
`The White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities (HBCUs) is proud to announce the 2024 cohort of HBCU Scholars, marking the 10th anniversary of this transformative program. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business metrics that show improvement. This is according to the company’s Q2 2024 financial results, as well as statements given […]
Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by 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 […]
The U.S. Department of Education (Department) today announced that the 2025-26 Free Application for Federal Student Aid (FAFSA® form) will be launched through a new process. Starting on October 1, the Department will release the 2025-26 FAFSA form for testing with a limited set of students and institutions. The Department will make the application available […]
California-based mortgage lender loanDepot reduced its financial loss in the second quarter of 2024 while still feeling the impacts of a January cyberattack. During the three-month period, the company increased its volumes and margins while implementing an efficiency program and selling mortgage servicing rights (MSRs). On Tuesday, loanDepot reported a non-GAAP adjusted net loss of […]
Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should […]
Mortgage industry executives are on alert amid the global stock-market meltdown caused by fears that the Federal Reserve may have kept the federal funds rate too high for too long, which could bring the U.S. economy into recession. Tensions in the bond markets have provoked a decline in mortgage rates, which is good news for […]
The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. At HousingWire‘s Mortgage Rates Center on Tuesday, the 30-year conventional loan rate averaged 6.8% — a new low point for […]
Today, the U.S. Department of Education is pleased to launch the Power Your Future Challenge — the second challenge in its annual CTE Momentum series to prepare high school students for rewarding careers and increase access to career and technical education. The Department invites teams to submit action plans that will advance the use of […]
Lower continues to make moves designed to support its expansion efforts, hiring former Waterstone Mortgage executive Dustin Owen as its new divisional sales leader and senior vice president of growth. Owen, who is based in the Orlando area, spent the past 16 years at Waterstone, most recently as its vice president of Eastern division sales. […]
The National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter to Ginnie Mae acting president Sam Valverde, offering their thoughts and perspectives on the government-owned company’s proposed supplemental Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. That program, referred to by industry participants as “HMBS 2.0,” was […]
Massachusetts Gov. Maura Healey (D) has signed a $57.8 billion state budget for 2025, which features several provisions designed to assist the state’s senior residents with health care, food assistance and aging-in-place provisions like home-based care. This is according to announcements by Healy’s office and AARP. Signed into law on July 29, the budget features […]
Rising home prices managed to outpace an all-time high of $13.8 trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 trillion in the second quarter of 2024. On top of that, tappable home equity reached a new high of $11.5 trillion, a 4% gain compared to the first quarter and […]
Fears of a recession in the U.S. sent shockwaves through financial markets around the world on Monday. The Dow-Jones dropped 1,000 points by 10:30 a.m. Eastern time, the NASDAQ lost up to 6% of its value and Japanese stocks suffered their biggest crash since 1987, with the Nikkei 225 stock index dropping 12.4%. The turbulence […]
CreditXpert stands apart in the industry by offering innovative solutions that emphasize credit optimization over traditional credit repair. In this executive conversation with Mike Darne, VP of Marketing, we explore how CreditXpert is delivering precise credit optimization solutions and their commitment to making homeownership more accessible and affordable. HousingWire: CreditXpert brings value to people in […]
Geneva — Switzerland’s Locarno Film Festival opens on Wednesday with Shah Rukh Khan, Jane Campion, Alfonso Cuaron and Irene Jacob set to be honored with special awards. Founded in 1946, Locarno is one of the world’s longest-running annual film festivals and focuses on auteur cinema. Held on the shores of Lake Maggiore, in the Italian-speaking Ticino […]
New York — After 10 days in theaters, “Deadpool & Wolverine” is already the highest-grossing R-rated movie ever, not accounting for inflation. In its second weekend, the Marvel Studios blockbuster starring Ryan Reynolds and Hugh Jackman continued to steamroll through movie theaters, collecting $97 million according to studio estimates Sunday. That raised its two-week total to […]
PARIS — Faith leaders gathered with Olympic officials Sunday morning in front of Notre Dame Cathedral to celebrate how “faith and sport can complement each other,” in the words of International Olympic Committee President Thomas Bach. The 2024 Paris Games got off to a rocky start with many religious groups around the world, including the Vatican. […]
LOS ANGELES — Aerosmith says Steven Tyler’s voice has been permanently damaged by a vocal cord injury last year and the band will no longer tour. The iconic band behind hits such as “Love in an Elevator” and “Livin’ on the Edge” posted a statement Friday announcing the cancellation of remaining dates on its tour and […]
PARIS — LGBTQ+ athletes, officials and observers have warned that a deluge of hateful comments misidentifying female boxer Imane Khelif in the Paris Olympics as transgender or a man could pose dangers for the LGBTQ+ community and female athletes. The concerns come as famous figures — from former U.S. President Donald Trump to Harry Potter author […]
NANTERRE, France — The party for Léon Marchand spread beyond the pool, quickly sweeping across Paris. At Stade de France, hosting the first night of track and field, an enormous ovation broke out when Marchand won his fourth gold medal of the Olympics. The roar was so loud that the first heat of the 400-meter run […]
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans […]
Meanwhile, the bid-to-value ratios for both types of auctions declined from two-year high points in May. Winning bids at foreclosure auctions in June declined to an average of 58.7% of a property’s estimated after-repair value (ARV), while those at REO auctions averaged 58.6% of the ARV. Foreclosure-auction bid-to-value ratios declined by at least 10% on […]
The Federal Housing Administration (FHA) announced on Friday that it has published a final rule in the Federal Register opening up communications between mortgage lenders and defaulted borrowers to remote and electronic methods. This is designed to broaden the ways for borrowers to meet with lenders following the success of remote communications on housing issues […]
Santa Ana, California-based mortgage services and data firm Consolidated Analytics announced on Friday that it has acquired the assets of investor claims and loss-analysis company Investor Claim Solutions (ICS). Consolidated Analytics is a private company and terms were not disclosed. The company stated that the acquisition will help it improve its overall market position as […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that Drexel University in Pennsylvania has entered into a resolution agreement to ensure compliance with Title VI of the Civil Rights Act of 1964 (Title VI) when responding to allegations of discrimination or harassment based on national origin, including shared Jewish ancestry. details […]
Two lenders based in New Jersey have struck an M&A deal. OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc., which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s president and CEO, Justin DeJoseph, emailed employees on July 25 to announce the transaction. In the message reviewed […]
Despite some recent relief from mortgage rates, top executives at the parent of Rocket Mortgage continue to expect a challenging landscape for the industry in the coming months, mainly due to regulatory changes, low affordability levels and consolidation. What will be their playbook? Leaders at the Detroit-based Rocket Companies say they will continue to invest […]
Sen. Mike Braun, R-Indiana., and a coalition of eight other Republican U.S. Senators are taking aim at energy-efficiency standards for new housing construction, citing the additional costs they would add to the purchase of new homes. In April, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) settled […]
West Palm Beach, Florida-based Onity Group, the parent company of top-five reverse mortgage lender Liberty Reverse Mortgage, recorded a decline in income during the second quarter of 2024. Despite the financial result, Onity — formerly known as Ocwen Financial Corp. — is doubling down on the reverse mortgage space by entering into an agreement to […]
Connecticut-based Ellington Financial, the parent company of top-10 reverse mortgage lender and servicer Longbridge Financial, announced this week that it has completed a securitization backed by a pool of proprietary reverse mortgages. The $232 million securitization closed on Thursday and was backed by a pool of proprietary reverse mortgages, all of which were originated by […]
The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily. On Wednesday, Fed Chair Jerome Powell […]
The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers. On top of “click fees” that CHLA said are charged […]
Elementary, middle and high school graduates across all U.S. states, outlying areas, and military bases selected by principals for academic achievement recognition details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Homebuyers often adjust their plans for the uncertainty that an election year can bring. With less than 100 days until the 2024 election, a majority of buyers are taking note. That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. […]
Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. That’s according to a new report from ATTOM Data Solutions that found that in the second quarter of 2024, 49.2% of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the […]
EAUBONNE, France — Growing up in cutthroat New York gave Lauren Scruggs the competitive mindset needed to claim an unexpected fencing silver medal on her Olympic debut in Paris. The 21-year-old Queens native shared the podium with fellow American Lee Kiefer, who retained her Olympic title in the women’s individual foil event gold medal bout on […]
Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0. The new term sheet detailed several differences from the existing HMBS program, including a reduction in the HMBS pool […]
Technology and outsourcing solutions company a360inc announced on Wednesday that it has acquired ProVest, a Tampa-based process and litigation information services provider for creditors. Some of a360inc’s key constituencies include mortgage lenders, servicers and investors, as well as title agencies. The deal includes an investment in a360inc by the funds managed by Morgan Stanley Investment […]
Paris — As a gay youth growing up in central France, Hugo Bardin never felt he lived in a world that represented who he was — a world in which he had a place. And that is why Bardin, who performs as the drag queen Paloma, felt it was meaningful and important to be part of […]
Like its peers, New York-based asset manager Rithm Capital, the owner of multichannel lender Newrez, has invested in building an extensive servicing portfolio over the past few years. This has occurred both organically and through acquisitions as Rithm aims to retain customers when mortgage rates decline from current levels. But Michael Nierenberg, the company’s chairman, […]
In the ever-evolving world of mortgage servicing, delivering an exceptional customer experience at every stage of the customer’s journey is a crucial differentiator. Having spent my career focused on transforming and maintaining an outstanding customer experience specific to our industry, I’ve learned that creating a customer-focused team isn’t achieved through policy, technology, or even training. […]
The Biden-Harris Administration today announced that it will begin the next step toward providing student debt relief to tens of millions of borrowers this Fall. Starting tomorrow, the U.S. Department of Education (Department) will begin emailing all borrowers with at least one outstanding federally held student loan to provide updates on potential student debt relief, […]
San Diego-based Smartfi Home Loans, which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I am thrilled to announce that I have started my new role as president […]