General World News

Freddie Mac CFO to resign at the end of June

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Freddie Mac’s chief financial officer, Christian Lown, notified the company of his intention to resign at the end of this month. The government-sponsored enterprise (GSE) will “begin the process of identifying a successor,” Freddie Mac said in an 8-K filing with the Securities and Exchange Commission (SEC) on Friday. Lown’s resignation, was was announced on June […]

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New records from Ginnie Mae, HUD filed in TCB case

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Attorneys for the federal government have issued an extensive new filing in the ongoing litigation between Texas Capital Bank (TCB) and Ginnie Mae, including a raft of correspondence that took place immediately prior to the seizure of the Reverse Mortgage Funding servicing portfolio by Ginnie Mae. Separately, a magistrate judge has approved the government’s request […]

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Muslims start Hajj against the backdrop of Israel-Hamas war

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MINA, Saudi Arabia — In sweltering temperatures, Muslim pilgrims in the Saudi city of Mecca converged on a vast desert tent camp Friday, officially starting the annual Hajj pilgrimage. Earlier, they circled the cube-shaped Kaaba in the Grand Mosque, Islam’s holiest site. More than 1.5 million pilgrims from around the world have amassed in and around […]

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U.S. Department of Education Announces Jeremy Singer as FAFSA Executive Advisor in the Office of Federal Student Aid

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The U.S. Department of Education (Department) announced today Jeremy Singer as FAFSA Executive Advisor in the office of Federal Student Aid (FSA) to lead the Free Application for Federal Student Aid (FAFSA®) overall strategy and accelerate technology innovation to further enhance FSA’s technical and operational capabilities. details ⇒ BusinessMediaguide.Com portal received this content from this […]

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Originators cannot afford to play the interest rate waiting game

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Record-high home prices and elevated interest rates have weighed down mortgage markets. The Federal Reserve signaled its intention to maintain higher-for-longer rates, confirming that a reprieve is not on the horizon for borrowers and originators alike. Recent stagnation in refinancing loans, coupled with supply and demand discrepancies in housing, means originators still find themselves in […]

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South River president on reverse mortgage business, data science and priorities

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According to the most recent Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), Annapolis, Maryland-based South River Mortgage is the ninth-largest reverse mortgage lender in the country with 496 endorsements in the 12-month period ending May 31. After hitting milestones in recent years, including a rollout of a proprietary reverse […]

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NAHREP recognizes top 250 Latino mortgage originators

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The National Association of Hispanic Real Estate Professionals (NAHREP) this week released the 10th edition of its annual Top 250 Latino Mortgage Originators rankings, honoring the top-performing Latino mortgage originators across the country. For the second year running, DHI Mortgage earned the top position in the report among all companies, followed by Guaranteed Rate and […]

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Rate-and-term refi locks jump 25.6% in May: Optimal Blue

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Chart courtesy of Optimal Blue Total volume rose by 5.3% in May month over month and 1.8% year over year. Such gains were driven by a 4.1% increase in month-over-month purchase lock volume, a 7.2% rise in cash-out refinances, and the big rise in rate-and-term refinances. There was, however, a year-over-year decline in purchase lock […]

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India beats US at cricket’s Twenty20 World Cup

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WESTBURY, New York — There was no upset this time for the United States as the home team was easily beaten by cricket heavyweight India at the Twenty20 World Cup on Wednesday. Suryakumar Yadav’s half-century powered India to a seven-wicket win over the U.S., which had shocked Pakistan last week. With the win, India reached the […]

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FHFA seeks public comment on GSEs’ underserved markets plans

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The Federal Housing Finance Agency (FHFA) this week issued a public request for information for plans submitted by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac under the Duty to Serve (DTS) program that aims to serve underserved markets from 2025 through 2027. Established by the Housing and Economic Recovery Act (HERA) of 2008, the […]

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Government requests more time in Ginnie Mae/TCB lawsuit

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Lawyers for the U.S. government have requested an extension of deadlines related to discovery in the case brought by Texas Capital Bank (TCB) against Ginnie Mae over the extinguishment of a priority lien tied to the loan portfolio collateral of Reverse Mortgage Funding (RMF), according to court documents reviewed by HousingWire’s Reverse Mortgage Daily (RMD). […]

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Originations forecast through 2026 ‘dampened’ by inflation, GDP and labor market growth

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Persistent economic trends that include inflation, a strong labor market and real gross domestic product (GDP) growth will continue to “dampen” mortgage origination activity through at least the end of 2026, according to the newest U.S. mortgage originations outlook from financial services forecasting and advisory company iEmergent. Based on 2023 Home Mortgage Disclosure Act (HMDA) […]

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EasyKnock partners with FinLocker to bolster consumer financial health

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Home equity solutions and sale-leaseback platform EasyKnock announced a partnership on Tuesday with financial fitness and homeownership platform FinLocker that will make FinLocker’s tools available free of charge to EasyKnock customers. The FinLocker app includes a “personalized suite of tools“ designed to help consumers improve their financial health, the company explained in its announcement. This […]

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Refi business is picking up on falling mortgage rates

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Mortgage applications shot up 15.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending June 7. On an unadjusted basis, the market composite index increased 26% compared with the previous week. The refinance index increased 28% from the previous week and was also 28% higher […]

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Success Mortgage CEO nominated as MBA vice chairman

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The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year. Lee’s nomination was announced by Mark Jones, the 2024 MBA chairman and president of Union Home Mortgage, who describing Lee as “an […]

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Inflation cools slightly ahead of Fed meeting

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The Federal Reserve has some positive news about inflation as it heads into its June meeting on Wednesday afternoon. The Consumer Price Index cooled slightly in May, with the all items index posting a 3.3% annual increase before seasonal adjustment, according to data released Wednesday by the Bureau of Labor Statistics (BLS). This is down from a 3.4% annual […]

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Open Mortgage has FHA direct endorsement authority terminated in Iowa

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The U.S. Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa.  “HUD placed Open Mortgage on credit watch for the Des Moines HOC [homeownership center], which only impacts our loans in Iowa,” Christopher D’Auria, president and CEO of Open Mortgage, told HousingWire.   […]

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Despite financial insecurities, retirement may be easier than you think: Forbes

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An article written by an Atlanta-based certified financial planner and published Tuesday by Forbes indicates that retirement may not be as difficult as many Americans think. Wes Moss, who hosts the “Retire Sooner” podcast and has 20-plus years of experience as an investment adviser, offered advice that reverse mortgage professionals and their business partners might […]

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VA issues temporary fix to allow buyer-paid broker fees

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The U.S. Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement, was anticipated late last month and commented on […]

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What’s new in QC and Compliance

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In a market where every dollar matters, revenue retention areas like quality control and compliance are more critical than ever. Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and compliance. Trevor Gauthier, chief executive officer at ACES Quality Management provides us with an update on the latest […]

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Liberty Reverse parent completes rebrand to Onity Group

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The parent company of top 10 reverse mortgage lender Liberty Reverse Mortgage has completed its shareholder-approved rebranding initiative, transforming the former Ocwen Financial Corp. into The Onity Group. The initiative has also transitioned the company’s New York Stock Exchange (NYSE) ticker symbol to “ONIT” as of the market opening on Monday. “Today marks the start […]

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Dunmor adds to its business-purpose lending team

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Los Angeles-based Dunmor, a technology-enabled lender that specializes in loans for residential real estate investors, has added a pair of experienced executives in the business-purpose lending space. The company announced Monday that it hired Tuam Pham as chief marketing officer and Steve Huff as senior vice president of asset management and servicing. Pham has 23 […]

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Mortgage veteran Joe Tyrrell named CEO of Optimal Blue

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Mortgage veteran Joe Tyrrell will succeed Scott Smith as CEO of Optimal Blue, the company announced Monday. Tyrrell has more than 25 years of experience in mortgage, finance and technology, serving as president of ICE Mortgage Technology for three years after ICE bought Ellie Mae in 2020. For the past 18 months he has served […]

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Thousands turn out for LA Pride Parade, events

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LOS ANGELES — Tens of thousands of people lined the streets of Hollywood on Sunday for the L.A. Pride Parade, one of the biggest events during a month of celebrations honoring the LGBTQ+ community in and around Los Angeles.  Rainbow flags ruled the day as revelers cheered the lively procession that featured “Star Trek” star and […]