The Community Home Lenders of America (CHLA) submitted a letter to the Consumer Financial Protection Bureau (CFPB) in support of changes to the loan originator compensation rule, telling CFPB Director Rohit Chopra that the current rule’s “inflexibility” in certain areas is a “detriment” to consumers. The letter calls for increased flexibility in LO compensation restrictions, […]
HousingWire is excited to announce the 2023 class of Rising Stars! In its tenth year, this industry award is showcasing the up-and-coming leaders in housing who have had major accomplishments all before the age of 40. They help run major corporations, and are the entrepreneurs building tomorrow’s great businesses. They work in any and every […]
Aerosmith will be touring a city near you for the last time to celebrate the rock band’s 50-plus years together. The Rock & Roll Hall of Fame band announced Monday the dates for their farewell tour called “Peace Out” starting Sept. 2 in Philadelphia. The 40-date run of shows, which includes a stop in the […]
Ten years ago, Native American photographer Matika Wilbur embarked on a road trip with an ambitious goal to document all 562 federally recognized Indigenous tribes. Her multiyear work culminated in a new book aiming to change the way people see Native Americans. She launched her book tour in her home state of Washington. VOA’s Natasha […]
Phillip McCall: While there are many potential reasons for this, among them may be that some lenders are getting more aggressive in expanding the credit box to qualify every borrower possible and help them get into homes. In addition, many may be offering products they haven’t offered in some time, such as With lenders competing […]
Recently, the director of the Federal Housing Finance Agency (FHFA) issued a statement clarifying the agency’s rationale for changes to loan level pricing adjustment (LLPA) fees going into effect on May 1. The changes have created some controversy due to the fact that better credit quality borrowers will experience higher fees after May 1 than under […]
Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank, federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. The Federal Deposit Insurance Corporation (FDIC) and JP Morgan are also entering into a loss-share transaction on single family, residential and commercial loans it purchased from the […]
New listing inventory hasn’t recovered since last year’s big The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a […]
“The Super Mario Bros. Movie” led ticket sales for the fourth straight weekend in U.S. and Canadian theaters with $40 million as the global haul for the Universal Pictures release surpassed $1 billion, according to studio estimates Sunday. The Nintendo videogame adaptation dominated the month of April in theaters, smashing records along the way. Over […]
The American Library Association says there were a record number of demands to censor U.S. library books last year, nearly double the challenges from the previous year. For VOA, Deana Mitchell takes us to a Texas town that is considering closing its library to block a court ruling ordering the return of banned books. details […]
Ever since missionaries started building churches out of mud 400 years ago in what was the isolated frontier of the Spanish empire, tiny mountain communities like Cordova relied on their own resources to keep the faith going. Thousands of miles from religious and lay seats of power, everything from priests to sculptors to paint pigments […]
While a clear majority of Americans still drink alcohol, many others choose to skip it.. As the US marks April as Alcohol Awareness month, the nondrinkers in Washington can head to a perfect bar, called Binge Bar – Washington’s first booze-free bar. Karina Bafradzhian has the story. Video: David Gogokhia details ⇒ BusinessMediaguide.Com portal received this […]
Wells Fargo and T.D. Jakes Group announced a 10-year partnership aimed at “revitalizing neighborhoods” and creating long-term change in communities most in need. The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners. […]
Mortgage tech company Blend incurred a whopping $769 million loss in 2022, leading some mortgage tech analysts to question the company’s runway and survivability. Nima Ghamsari, CEO and co-founder of Blend, acknowledged that the company was focused on “too many things” a year ago. But Blend is now focused on cutting costs, growing its mortgage […]
By: Amy Loyd, Assistant Secretary for the Office of Career, Technical and Adult Education On the first work day of April, during which we celebrate Second Chance Month, I had the honor of joining colleagues from the Department of Justice and local and state leadership at an event held at a Miami-Dade College campus located […]
Digital lending solutions provider DocMagic announced this week that it has added ADA-compliant mortgage loan documents to its document library. The new digital documents are accessible to visually impaired users and others with disabilities, unlocking opportunities for these consumers into the broader mortgage market. “Much of modern lending technology is designed to give consumers the […]
California-based Pennymac Financial Services reported gains in its servicing portfolio that offset losses with its origination activity in the first quarter of 2023, allowing the company to deliver an overall profit in the period. However, Pennymac’s profitability declined compared to the previous quarter amid a still-challenging mortgage market. The company reported on Thursday its net income came […]
The largest institutional single-family rental (SFR) operator in the country, Invitation Homes, is in the hot seat over its alleged failure to comply with building-permit requirements for rental properties it owns in California. Another larger player in the space, Progress Residential, recently postponed a securitization transaction due to difficult market conditions. And yet another big force […]
Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed mortgage rate increased to 6.43% as of April 27, up four basis points from last week and 133 basis points from this […]
The Consumer Financial Protection Bureau (CFPB) issued guidance this week for debt collectors seeking to foreclose on homes with mortgages past the statute of limitations, also known as “zombie mortgages.” The guidance comes in the form of an advisory opinion pertaining to the Fair Debt Collection Practices Act (FDCPA) and implementation of Regulation F. The […]
Jerry Springer, the onetime mayor and news anchor whose namesake TV show featured a three-ring circus of dysfunctional families willing to bare all on weekday afternoons including brawls, obscenities and blurred images of nudity, died Thursday at 79. At its peak, “The Jerry Springer Show” was a ratings powerhouse and a U.S. cultural pariah, synonymous […]
From discussing nuclear war to belting out a beloved hit: South Korean President Yoon Suk Yeol’s White House visit ended on a high note when he sang Don McLean’s “American Pie” to great applause. Yoon is on a six-day state visit to Washington, where he discussed with U.S. President Joe Biden on Wednesday “the end” […]
Actor Angelina Jolie, home improvement duo Chip and Joanna Gaines and Olympic snowboarder Chloe Kim headlined the list of big names from politics, business, sports and entertainment glamming up a fancy black-tie dinner that U.S. President Joe Biden hosted Wednesday for South Korean President Yoon Suk Yeol. Broadway’s Lea Salonga, one of the night’s entertainers, […]
Artificial intelligence, or AI, could potentially transform arts and entertainment, from music to movies, but it is also raising concerns. Is AI a creative tool or a threat to creators and artists? VOA’s Mike O’Sullivan examines the question. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
A Fugees rapper accused in multimillion-dollar political conspiracies spanning two presidencies was convicted Wednesday after a trial that included testimony from such witnesses as actor Leonardo DiCaprio and former U.S. Attorney General Jeff Sessions. Prakazrel “Pras” Michel was accused of funneling money from a now-fugitive Malaysian financer through straw donors to Barack Obama’s 2012 reelection […]
Arizona-based lender On Q Financial will form a multi-partner mortgage banking joint venture with HomeCo Partners, a consortium of real estate brokerages and a builder, HousingWire has learned. HomeCo Partners had created a JV with New Rez, which is permanently winding down. The JV, named Partners United Mortgage, has partners consisting of real estate brokerages […]
Your social media feed right now is probably abuzz with claims that the FHFA’s new loan level pricing adjustments (LLPAs) on conventional mortgages favor buyers with bad credit over buyers with great credit. “A 620 FICO score gets a 1.75% fee discount and a 740 FICO score pays a 1% fee” reads one screenshot from […]
Mr. Cooper Group‘s profits strongly increased in the first quarter of 2023, as forecasted by its executives. The servicing portfolio again propelled the quarterly performance, but this time, the origination segment also contributed to the results by returning to profitability. The company reported on Wednesday that it delivered $37 million in net income from January […]
STG Mortgage has successfully implemented OptifiNow‘s TPO CRM solution, according to a press release from the software provider. STG Mortgage, based in Orange County, California, said it opted for OptifiNow’s TPO because it provided an out-of-the-box solution for the company’s wholesale division that was seamlessly integrated with its loan origination system (LOS). Nectar Kalajian, CEO […]
U.S. Secretary of Education Miguel Cardona announced today the selection of Carlene Pacheco, paraprofessional, Title VI liaison, and family service specialist at Churchill County High School in the Churchill County School District in Fallon, Nevada, as the 2023 Recognizing Inspiring School Employees (RISE) awardee. details ⇒ BusinessMediaguide.Com portal received this content from this noted web […]
On March 29, the Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac would enhance their COVID-19 pandemic-era deferral policies which allowed homeowners experiencing hardship to defer up to six months of mortgage payments to be settled at the end of the loan. Since the pandemic began, the FHFA has enabled lenders to […]
Pope Francis has decided to give women the right to vote at an upcoming meeting of bishops, an historic reform that reflects his hopes to give women greater decision-making responsibilities and laypeople more say in the life of the Catholic Church. Francis approved changes to the norms governing the Synod of Bishops, a Vatican body […]
Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. “There are still so many borrowers looking to purchase a home. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, […]
Representatives of federal enforcement and regulatory agencies, including the Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), Federal Trade Commission (FTC) and the Equal Employment Opportunity Commission (EEOC) are warning that the emergence of artificial intelligence (AI) technology do not give license to break existing laws pertaining to civil rights, fair competition, consumer protection […]
By: Roberto J. Rodríguez, Assistant Secretary, Office of Planning, Evaluation and Policy Development We need a system that’s inclusive, that delivers value, and that produces equitable outcomes. We need transparency in data more now than ever before. – Secretary Miguel Cardona The U.S. Department of Education’s College Scorecard is a free online tool to help […]
Rocket Central’s new vice president of public policy, Karan Kaul, plans to prioritize homeownership opportunities for first-time homebuyers, households of color, low- and moderate-income households that have historically found it difficult to access mortgage credit. As such, Rocket will continue to offer its special purpose credit programs, which allow first-time homebuyers to receive funds toward […]
Congressional Republicans are holding the nation’s full faith and credit hostage in an effort to impose devastating cutbacks that would hurt children and undermine education, raise costs for hardworking families, and set back economic growth. And they are demanding these slashes while separately advancing proposals to add over $3 trillion to deficits through tax giveaways […]
New home sales posted yet another increase in March, rising 9.6% from February to a seasonally adjusted annual pace of 683,000 homes, according to data published on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). This is the fourth straight month of new home sales increases. On a year-over -year basis, however, new home sales […]
Harry Belafonte, the civil rights and entertainment giant who began as a groundbreaking actor and singer and became an activist, humanitarian and conscience of the world, has died. He was 96. Belafonte died Tuesday of congestive heart failure at his New York home, his wife Pamela by his side, said Paula M. Witt, of public […]
Jury selection began Monday in a trial to determine whether British pop star Ed Sheeran plagiarized American music legend Marvin Gaye’s “Let’s Get It On” in his 2014 hit “Thinking Out Loud.” The plaintiffs are the heirs of Ed Townsend, a musician and producer who co-wrote Gaye’s 1973 soul classic. They allege that there are […]
United Wholesale Mortgage (UWM) has moved to dismiss an amended counterclaim filed by broker shop America’s MoneyLine (AML) that accuses the lender of antitrust practices regarding the “ultimatum” it imposed two years ago. UWM’s motion to dismiss, filed on April 19 in Michigan federal court, states that the dispute is not an antitrust case, as […]
The Mortgage Bankers Association (MBA) filed an amicus brief on Friday in response to the Consumer Financial Protection Bureau (CFPB) and the Department of Justice‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers. The mortgage trade group said it was concerned that the CFPB […]
Len Goodman, the urbane, long-serving judge on “Dancing with the Stars” and “Strictly Come Dancing,” has died, his agent said Monday. He was 78. Agent Jackie Gill said Goodman “passed away peacefully,” without giving a cause. A former dancer and British champion, Goodman was a judge on “Strictly Come Dancing” for 12 years from its […]
New listing data hasn’t recovered since last year’s big Can we now say that the housing market‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we […]
“The Super Mario Bros. Movie” continued to rack up coins at the box office, leading ticket sales for the third straight weekend, as the animation hit neared $1 billion after just 18 days in theaters. The weekend’s top new release, the horror reboot “Evil Dead Rise” debuted solidly, launching with $23.5 million, according to studio […]