As you can see below, the slope of the housing inventory curve from the seasonal bottom on April 14 has been slow enough that active listings have turned negative year over year. However, last year was very abnormal: We had the biggest one-year sales crash ever, working from the lowest active listings data in March […]
BEIJING – As China geared up for their opening Women’s World Cup fixture in Australia on Saturday, there was cause for optimism for the future back home as more and more young women take up soccer for fun. Wang Lu, a 32-year-old screenwriter and lifelong soccer fan, is one. Last week, after some two decades […]
FORT LAUDERDALE, Fla. — Kingston Peel, 11, and his 9-year-old brother, Wynn, got woken up early Friday at their home in the Bahamas. Their mother had a surprise for them. In only a few hours, they’d fly to South Florida to see superstar Lionel Messi make his Major League Soccer debut with Inter Miami. “We’re […]
Lifting a ban on mortgage lenders providing down payment assistance (DPA) to Federal Housing Administration (FHA) borrowers would help underserved borrowers become homeowners, according to a paper published by the Urban Institute. Under the FHA Modernization Act of 2008, sellers, lenders and others with a financial interest in a real estate transaction are prohibited from […]
Citywide Home Loans, a Utah-based mortgage lending company, agreed to settle a $1.2 million class action lawsuit to resolve claims surrounding a 2020 data breach. The news was first reported by legal website Top Class Action. The company, which has more than 800 employees and operates in 35 states, is accused of negligence for failing […]
Tony Bennett, the eminent and timeless stylist whose devotion to classic American songs and knack for creating new standards such as “I Left My Heart In San Francisco” graced a decadeslong career that brought him admirers from Frank Sinatra to Lady Gaga, died Friday. He was 96, just two weeks short of his birthday. Publicist […]
Comic-Con 2023 is happening in San Diego — without large movie studios and high-profile stars. Some participants say the Hollywood actors and writers strikes are taking the event back to its comic book roots. For VOA, Genia Dulot has the story. Camera: Roy Kim details ⇒ BusinessMediaguide.Com portal received this content from this noted web […]
STOCKHOLM — A recent string of public desecrations of the Quran by a handful of anti-Islam activists in Sweden has sparked an angry reaction in Muslim countries and raised questions – including in Sweden – about why such acts are allowed. In the latest such incident, an Iraqi living in Sweden on Thursday stomped on […]
Months of high mortgage rates and low existing inventory led to another annual increase in new home purchases in June. Mortgage applications for new home purchases jumped 26.1% in June from the same period last year, according to the Mortgage Bankers Association builder application survey. Compared with the prior month, applications dropped by 5%. MBA […]
Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. The consensus is that the change would primarily affect the shrinking jumbo market (loans greater than $726,200) and hurt regional banks, […]
The Community Home Lenders of America (CHLA) has compiled a new document it is calling the “consumer mortgage bill of rights,” based on a series of different actions and proposals it has made to companies and federal agencies including the Consumer Financial Protection Bureau (CFPB), the Federal Housing Administration (FHA), the Federal Housing Finance Agency […]
Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices, tight inventory of homes available for sale and interest rate hikes. About 35% of the 253 mortgage executives that responded to Fannie Mae’s mortgage lender sentiment survey (MLSS) said cost cutting was […]
With elevated mortgage rates sidelining both home buyers and sellers, existing home sales fell in June, according to the latest report from the National Association of Realtors (NAR). Sales were also down significantly from a year prior. Total existing home sales slipped 3.3% in June from the prior month to a seasonally adjusted annual rate […]
The White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities announces its ninth cohort of HBCU Scholars, recognizing 102 undergraduate, graduate, and professional students from 29 different states and countries for their accomplis details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department […]
The mortgage industry continues to rightsize, and On Q Financial is taking it as an opportunity to expand through loan officer recruitment and tapping into its network of homebuilders. On Q Financial hired 100 loan officers over the past two months, bringing the total number to about 250, CEO Patrick Lamb said in an interview […]
SYDNEY/AUCKLAND – Australia and New Zealand will open the ninth Women’s World Cup co-hosted by the two nations Thursday, despite a shooting near the Norwegian team hotel in New Zealand’s largest city of Auckland that left three dead and six injured. Police said the shooter was among those killed and the danger from the incident […]
Messi mania has descended on Florida with the arrival of Lionel Messi to play for local team Inter Miami. Many fans say they hope a player of his stature will signal a new era for U.S. soccer. Verónica Villafañe narrates this story from reporters Antoni Belchi and José Pernalete in Miami. Camera: Antoni Belchi and […]
The lack of existing homes for sale on the market is driving a resurgence of home-price growth and supporting increases in new home construction, according to Fannie Mae’s Economic & Strategic Research (ESR) group. “The extent of the ongoing lack of inventory has exceeded our prior expectation,” the ESR group said in its July commentary. […]
Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender claims actions by Katie Chikonde cost the lender millions of dollars. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, […]
The United States Senate on Tuesday passed the Tribal Trust Land Homeownership Act of 2023 via unanimous consent, and will now make its way to the House of Representatives for deliberation. In response, the Mortgage Bankers Association (MBA) applauded the move. The bill, introduced in January by a bipartisan coalition of five senators, would “require […]
The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. As the heat rises, so too does the number of lenders seeking to exit the market. The trajectory of merger and acquisition (M&A) deals […]
Iran, largely shunned by western tourists, is making a push to attract visitors from wealthy Gulf Arab states and other nearby countries to boost its sanctions-hit economy. The Islamic republic is also drawing more visitors from Russia and China to its ancient sites that date back to the Persian empire and the fabled Silk […]
Somalia’s rebuilt national museum is hosting its first show after more than three decades of damaging war and conflict. The 90-year-old museum is holding an international exhibit for 18 artists. Mohamed Sheikh Nor reports from Mogadishu, Somalia. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Minneapolis-based U.S. Bank, the fourth-largest U.S. mortgage lender, is laying off staffers in its mortgage division this week, a spokesperson confirmed on Tuesday. The announcement follows a decline in its mortgage originations in the first quarter of 2023 – the second-quarter earnings will be released on Wednesday morning. The current jobs cut also comes amid rumors […]
Denver, Colorado-based Maxwell, a mortgage fintech solutions platform, has announced that product development veteran Paul Wetzel has joined the company as senior vice president of product. Wetzel brings extensive experience in B2B and B2B2C software product leadership, mortgage-specific market strategy and company growth in various industries. In his new role, Wetzel will focus on enhancing […]
Bank of America (BofA), a top-20 U.S. mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. But executives at all three banks expect some major regulatory headwinds. Rumors are that large banks would see residential mortgage capital requirements that […]
Chinese artists who are not endorsed by the ruling communist party often find they need to work outside the country, especially if their art is critical of the government in Beijing. Sculptor Weiming Chen is among them. Genia Dulot went to the California desert to see what he is doing. details ⇒ BusinessMediaguide.Com portal received […]
Female soccer players in Africa, much like those in the United States, are often paid less than their male counterparts. Nigeria’s women’s national team, the Super Falcons, is by far the most successful in Africa, winning nine out of eleven continental titles. The team is preparing to represent Africa this month at the FIFA Women’s […]
For the seventh consecutive month, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report rose month-over-month, gaining one-point to a reading of 56, according to a report released Tuesday. This is the index’s highest reading since June 2022. The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate […]
To get a sense of just how much animosity is flying around Hollywood these days, watch how Ron Perlman responded to a report that the studios aimed to prolong a strike long enough for writers to lose their homes. Perlman, the hulking, gravel-voiced actor of “Hellboy,” leaned into the camera in a since-deleted Instagram live […]
Snicker if you wish. Guffaw for good measure. Bill May and other male synchronized swimmers — now called artistic swimmers — have heard the putdowns before. But they’re getting the last laugh. Men have competed in synchro at the lower levels for decades. Now, they’re being included in the Olympics, meaning next year’s Summer Games […]
The share of mortgage loans in forbearance decreased by five basis points in June 2023 relative to May 2023 to 0.44% from 0.49%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. Since March 2020, mortgage servicers have provided forbearance to approximately 7.9 million borrowers and 220,000 homeowners are currently in forbearance plans. […]
Angelo Robert Mozilo, the founder of Countrywide Financial, died from natural causes this weekend, his family announced. He was 84 years old. Mozilo was a pioneer of the mortgage industry, though a deeply controversial figure. “Independent of how people outside of the industry may perceive this man, insiders know what an incredible force he was,” his […]
Duncan continued: “With the 30-year mortgage rate once again approaching 7%, it’s yet to be seen whether mortgage demand will finally cool in response, or whether higher rates will simply further suppress supply. If the latter, we expect additional near-term home price appreciation. One consequence of the stronger home price environment is that new home […]
Elton John briefly testified Monday for the defense at Kevin Spacey ‘s sexual assault trial as the actor’s lawyer attempted to discredit a man who claimed the Oscar winner aggressively grabbed his crotch while driving to the singer’s summer ball. John appeared in the London court by video link from Monaco after his husband, David […]
Intercontinental Exchange (ICE) and Black Knight agreed to sell Black Knight’s product and pricing engine unit Optimal Blue business to a subsidiary of Canada’s Constellation Software in an effort to save the merger deal. The $700 million proposed transaction includes a payment by Constellation of $200 million in cash, with the remainder financed by a […]
There could be some surprises at the Women’s World Cup. Sure, the U.S. is still considered dominant, and those elite European teams have developed even more with the rise of competitive clubs. Then there’s Brazil, which always seems on the verge of a breakout. But an expanded field of 32 teams at the tournament starting […]
Hollywood actors walked off the job Friday, striking for higher pay, an improved residuals policy and protections against the use of artificial intelligence. Hollywood writers have been on strike since May. Genia Dulot has the report. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Under the tall prairie grass outside this southwestern Minnesota town lies a precious seam of dark red pipestone that, for thousands of years, Native Americans have quarried and carved into pipes essential to prayer and communication with the Creator. Only a dozen Dakota carvers remain in the predominantly agricultural area bordering South Dakota. While tensions […]
We finally got a break on mortgage rates last week as the 10-year yield hit a critical level and quickly reversed lower, sending mortgage rates down. Active listings showed growth, week to week, but much smaller than I would like to see. Purchase application data showed some growth weekly, keeping alive the streak of more […]
After a globe-trotting publicity blitz by star Tom Cruise, “Mission: Impossible – Dead Reckoning Part One” launched with a franchise-best $80 million over five days, though it came in shy of industry expectations with a $56.2 million haul over the three-day weekend, according to studio estimates. The Paramount Pictures’ debut was boosted by strong overseas […]
British-born actress and singer Jane Birkin, a 1960s wildchild who became a beloved figure in France, has died in Paris aged 76. The French Culture Ministry said the country had lost a “timeless Francophone icon.” Local media reported she had been found dead at her home, citing people close to her. Birkin had a mild […]
Pianist André Watts, whose televised debut with the New York Philharmonic as a 16-year-old in 1963 launched an international career of more than a half-century, has died. He was 77. Watts died Wednesday at his home in Bloomington of prostate cancer, his manager, Linda Marder, said Friday. Watts joined the faculty of the Indiana University […]
Thousands of actors, from A-list celebrities to those struggling to break into the entertainment industry, voted to go on strike this week, plunging Hollywood and the broader film and television industry into what seems likely to be a lengthy work stoppage. The board of the Screen Actors Guild – American Federation of Television and Radio […]
The Consumer Financial Protection Bureau (CFPB) this week filed an amicus brief in a Maine Supreme Judicial Court in a case involving a married couple’s loan, joining with state officials including the attorney general, its Bureau of Financial Institutions and Bureau of Consumer Credit Protection. The Maine state agencies filed the lawsuit, Franklin Savings Bank […]