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Mortgage rates have been a bit more volatile recently due to hawkish Federal Reserve statements and inflation data, which has impacted some of the recent movement in the 10-year yield. But now we have the big jobs week coming up! So, what does this all mean for the housing market and the future of mortgage […]

Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. Since announcing their new CEO last year, Rocket has revealed more of its strategy through first-ever leadership positions that all carry one big theme — technology is the […]

Home Equity Conversion Mortgage (HECM) endorsements declined by 4.2% in March, a dynamic primarily driven by an drop in endorsements from the wholesale side of the business even as the retail side saw a month-over-month improvement in originations. This is according to data compiled by Reverse Market Insight (RMI). Retail endorsements gained 9% over their […]

Ginnie Mae, which manages the government-guaranteed portfolio of forward and reverse mortgage-backed securities (MBS), announced this week at a National Reverse Mortgage Lenders Association (NRMLA) event that it will release initial details of its forthcoming Home Equity Conversion Mortgage-backed Securities (HMBS) product as soon as next month. RMD submitted a request for comment to Ginnie […]

Homebuyer affordability declined in April, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI) released Thursday.  The index measures how new monthly mortgage payments vary across time, relative to income, drawing from data from MBA’s weekly applications survey. The national median payment for purchase mortgage applicants was $2,256 in April, up from […]

Mortgage lenders GO Mortgage and PacRes struck a deal to merge their businesses, allowing them to gain scale and reduce the cost of originating a loan in a higher-for-longer mortgage rate environment. The financials of the transaction were not disclosed.  “By uniting our unique capabilities and resources, we will achieve significant operational improvements,” Michael Isaacs, […]

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday. The news was first reported by […]

The share of older workers in the U.S. has grown significantly since the turn of the century, with 29.5% of workers in 2023 at least 65 years old, compared to 23% in 2000, according to a new report from the Employee Benefit Research Institute (EBRI). This occurred as labor force participation by older Americans between […]

The Consumer Financial Protection Bureau (CFPB) on Thursday issued a new request for information (RFI) from the public concerning “fees charged by providers of mortgages and related settlement services,” according to the RFI document reviewed by HousingWire. Part of a broader attack on what both the bureau and the Biden administration call “junk fees” — […]

The U.S. Department of Veteran Affairs (VA) announced on Wednesday that it has called on mortgage servicers to extend the moratorium on foreclosures for VA-guaranteed loans through Dec. 31, 2024, while these companies implement a new program to help struggling veterans.  The current moratorium, announced in November, was set to end on Friday. It was implemented […]

Home equity fintech lender Point, in collaboration with its long-time financing partner Atalaya Capital Management, has successfully closed a $141 million rated asset-backed securities transaction.  The securitization was completed on May 15 and marked Point’s second rated securitization and third overall deal in the secondary market, with all securities receiving ratings from Morningstar DBRS. Point […]

Calque, a company that partners with lenders to offer non-contingent mortgages to homebuyers, has announced new strategic partnerships with Fancher Mortgage Group and Jones Mortgage Group to extend its Trade-In Mortgage product.  The collaborations aim to simplify the homebuying process by leveraging a homeowner’s  existing equity to secure a new property before they sell their […]

Ninety-three percent of U.S. adults ages 55 and older view aging in place in their homes as an “important goal,” with 49% attributing aging as a reason they would choose to bring assistive technologies into their homes. This is according to surveys conducted in 2023 and 2024 by U.S. News & World Report. Results from […]

Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., changed his firm’s preapproval process for home purchase applicants. Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to […]

Tammy Richards Richards will oversee all operational aspects of Kind Lending, with a focus on scaling the company’s infrastructure and processes, the lender stated in a news release. In a prepared statement, Kind Lending President Yvonne Ketchum added that Richards will enhance operational efficiency as Kind continues to grow and innovate.    According to the […]

Mortgage applications slumped heading into Memorial Day weekend. Applications decreased by 5.7% on a seasonally adjusted basis during the week ending May 24, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey.  The MBA said the 30-year fixed mortgage rate rose for the first time in four weeks, to 7.05% from 7.01%. (Other […]

Fathom Holdings, the parent company of cloud-based real estate brokerage Fathom Realty, appointed Jon Gwin as chief operating officer. He replaces Samantha Giuggio, who held the role since January 2022. Gwin brings a wealth of experience to the role, having previously held executive positions at American Financial Network, Wachovia Bank, Wells Fargo and Accredited Home […]

Ocwen Financial Corp, the parent company of PHH Mortgage Corp. and its reverse mortgage subsidiary Liberty Reverse Mortgage, announced on Tuesday that its shareholders have approved the company’s planned rebranding initiative to Onity Group. The initial phase of the rebranding will first go into effect for the parent company on June 10 and will roll […]

Despite the potential for savings, more than half of all U.S. homebuyers (54%) who took out a mortgage for their most recent home purchase received only one loan offer. This indicates that a sizable portion of borrowers do not shop around for the best mortgage deal, according to new survey results from LendingTree. Twenty-two percent […]

The Federal Deposit Insurance Corp. (FDIC) this month announced a settlement with Arkansas-based Bank of England over alleged violations of the Federal Trade Commission Act, the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA) and the Home Mortgage Disclosure Act (HMDA). The bank has been issued an order to pay a […]

Mortgage rates kept sliding toward 7% as HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conforming loans at 7.25% on Tuesday, below the rate of 7.34% one week ago.  At the same time one year ago, the average 30-year conforming rate was 6.8%. Meanwhile, the 15-year conforming fixed rate averaged 6.77% on […]

Philadelphia-based Incenter Lender Services has promoted Sara Parrish to chief operating officer amid a plan to attract independent mortgage banks (IMBs) with variable-cost services. Parrish will remain as president of CampusDoor, an Incenter subsidiary that focuses on student loans.  “A big part of my job is preparing us for scale,” Parrish said in an interview with HousingWire. “We are getting […]

A group of Republicans in the U.S. Congress sent a letter to the Federal Housing Finance Agency (FHFA) that opposes a plan for the government-sponsored enterprise (GSE) Freddie Mac to purchase and guarantee single-family, closed-end second mortgages.  The document sent on Friday states that, if implemented, the “misguided” and “hastily executed” proposal has the potential […]