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HousingWire sat down with Acra Lending CEO Keith Lind to discuss effective ways to not only survive, but profit in the non-QM space while so many others are closing their doors. Lind also shares insights into the future of non-QM lending and the importance of emergent technologies in improving the origination process. Zebulon Lowe: Keith, […]

Homebuyer affordability declined in March as mortgage rates and home prices remained elevated.  The national median monthly payment for purchase mortgage applicants rose to $2,201 in March, up from $2,184 in February. That’s according to the Mortgage Bankers Association‘s (MBA) purchase applications payment index, which measures how new monthly mortgage payments vary across time relative […]

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) have settled on new energy-efficiency standards for the construction of new single-family and multifamily homes. This fulfills a requirement laid out in a 2007 law that directs the departments to adopt the most recently published energy-efficiency standards following reviews […]

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and […]

Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering by HousingWire on Monday, April 21, 2024. Photo credit: AJ Canaria Reverse mortgages became an unexpectedly prominent topic during certain parts of The Gathering by HousingWire, held earlier this week in Scottsdale, Arizona. The reverse lending industry’s most prominent attendee — Kristen Sieffert […]

Taylor Stork, president of the Community Home Lenders of America, speaks at The Gathering by HousingWire on Wednesday, April 25, 2024. Photo credit: AJ Canaria It was initially billed as a discussion centered on the “biggest threats to a healthy mortgage landscape for homebuyers,” but some breaking news disrupted some of those plans. The Consumer […]

The way that someone refers to the concept of diverse communities in their interactions with consumers and housing professionals can be a key indicator about their mindset. Antiquated terminology should be checked and minimized for anyone who wants to keep up with the times. That was one of the messages shared by Mosi Gatling, senior […]

Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California-based multichannel lender and servicer announced Wednesday. The company’s pretax gain in the first quarter was $43.9 million. That was less than the $38.1 million figure it posted during the same period last year but a significant improvement from […]

Two former New Jersey-based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being […]

Florida-based wholesale lender A&D Mortgage appointed Satish Vishwakarma to the role of servicing manager, the company announced on Tuesday. In this new role, Vishwakarma will be responsible for overseeing the day-to-day operations of the mortgage servicing department. He will ensure the successful management of mortgage servicing teams while leading efforts to streamline operations, enhance quality and […]

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage.  ”Your interest rates are going to be higher for longer,” he said. ”This year will look a lot like last year. Next year […]

Figure Technology Solutions, the parent company of Figure Lending LLC, named Michael Tannenbaum as its new CEO, the company announced on Tuesday. Tannenbaum will also be a member of the board of directors. Meanwhile, Mike Cagney, the company’s co-founder and previous CEO, will continue to serve as executive chairman of the company. “With its proven ability to […]

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “junk fees charged by mortgage servicers, as well as other illegal practices.” Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property […]

HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected. The Rising Stars award recognizes the emerging leaders in the industry who have demonstrated rapid career growth and an ability to lead, achieving remarkable milestones all before the age […]

Mortgage demand dipped last week as mortgage rates reached their highest levels since late 2023. Applications decreased by 2.7% on a seasonally adjusted basis during the week ending April 19, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey.  “Mortgage rates continued to move higher last week, reaching their highest levels since late […]

The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders award are open now through April 30th, 2024. Click here to nominate someone. The HousingWire Marketing Leaders award recognizes outstanding professionals who have demonstrated excellence in marketing within mortgage and […]

On Tuesday at The Gathering by HousingWire in Scottsdale, Arizona, Guild Mortgage CEO Terry Schmidt sat down with HousingWire editor in chief Sarah Wheeler to talk about the principles guiding much of the lender’s actions in recruiting, mergers and acquisitions (M&A) and overall business outlook. Building a strong workplace culture was a predominant theme of […]

New York-based multichannel lender US Mortgage Corporation previously announced that it was renewing its efforts in the reverse mortgage industry, having hired industry veteran Ken Krajewski to serve as managing director and head of reverse mortgage lending. To go deeper into the company’s renewed efforts in the space, RMD sat down with Krajewski and US […]

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” Adding to this challenge, lenders must deal with an increased risk of cyberattacks, something that loanDepot itself experienced earlier this year.  “At least around loanDepot, people were doing high 5s [30-year fixed mortgage rates] in the fourth […]

Rocket Mortgage launched a new artificial intelligence (AI) tool on Tuesday that allows its client experience teams to analyze sentiment, record behavior patterns, transcribe conversations and create tailored experiences during customer interactions. The lender estimates it will save tens of thousands of hours annually.   That’s the latest step the mortgage lender has taken to integrate AI into […]

Austin-based fintech startup Hitch announced the launch of its Hitch Home Equity White Label program in partnership with United Mortgage Corp.  This iteration signals Hitch’s smooth transition from the direct-to-consumer market to a collaborative effort with independent mortgage lenders. United Mortgage Corp., a midsized lender based in the state of New York, originated more than […]

Earlier this month, California-based multichannel mortgage lender CMG Financial announced that it had acquired Norcom Mortgage’s retail assets to expand its operations in the Northeast. The deal, however, will not include core members of Norcom’s well-known team of reverse mortgage professionals, including John Luddy, Norcom’s senior vice president of reverse lending. In interviews with RMD, […]

Ginnie Mae has filed a point-by-point response to the initial complaint of the case brought against it by Texas Capital Bank (TCB), which alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity […]

Retirement at 65 has been a longstanding norm for U.S. workers, but older investors believe that not only is such an outcome unfeasible, but they’re likely to face more challenging retirements than their parents or grandparents. This is according to recently released survey results from Nationwide, with a respondent pool that included 518 financial advisers […]

The U.S. Department of Housing and Urban Development (HUD) this week announced a new rule aimed at bolstering the department’s Section 184 Indian Housing Loan Guarantee program, with the goal to increasing lender participation and ensure access to potential Native American beneficiaries. The final rule, published in the Federal Register on March 20 but formally […]

Ginnie Mae President Alanna McCargo is resigning from her position at the government-owned company effective May 3, according to an announcement issued Friday by the U.S. Department of Housing and Urban Development (HUD). Ginnie Mae principal executive vice president Sam Valverde will serve as acting president of the company upon her departure. “The past 3.5 […]

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. But it could face challenges due to the lack of a robust securitization market, according to strategists at Bank of America (BofA).  On Tuesday, the Federal Housing Finance Agency (FHFA) announced a request for […]