Mike Simonsen, president of Altos Research, will share his data-focused insights on the housing market at Gathering of Eagles 2023. Join Simonsen and other data-obsessed attendees for a “Power Lunch,” on Tuesday, June 20. There’s no need to eat lunch alone at Gathering of Eagles. During Simonsen’s presentation, not only will you break bread with […]
Bruce Willis has been diagnosed with frontotemporal dementia, his family said on Thursday, nearly a year after the “Die Hard” franchise star retired from acting because of aphasia that had hampered his cognitive abilities. “Since we announced Bruce’s diagnosis of aphasia in spring 2022, Bruce’s condition has progressed, and we now have a more specific […]
Looking at the latest NAHB/Wells Fargo homebuilder confidence data and builder stock prices, I can say the homebuilders got very lucky this time around in the middle of a housing recession. There is one simple reason for this: it’s not 2008. They have less competition as they are working from low sales levels in today’s […]
The overall national mortgage delinquency rate rose in the fourth quarter of 2022, due in part to a weaker economy and ongoing inflationary pressures. The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding […]
LauraMac, a provider of mortgage loan review SaaS technology, has appointed Rick Seehausen as its chief strategy officer. In his new role, Seehausen will work with the leadership team at LauraMac, overseeing strategic planning and developing new and existing products. “I have known and worked with Rick for more than a decade and am delighted […]
In 2015, the U.S. Presidential Scholars Program began recognizing outstanding students in the field of Career and Technical Education. The move was designed to highlight innovation within CTE programs and the educators who empower these students. “The opportunities I received through CTE allowed me to realize my full potential and helped me to familiarize myself […]
Black Knight will integrate Wolters Kluwer‘s eNote and eVault capabilities in order to cut lenders’ costs per transaction and secure their clients’ electronically signed assets. The two firms signed an agreement to combine Wolters Kluwer’s eNote and eVault solutions with Expedite Close — Black Knight’s digital closing solution — as the final pieces to connect […]
With economic uncertainty and supply chain issues plaguing the industry, homebuilders pulled back last month. Homes were started at an estimated annual pace of 1.309 million in January, down 4.5% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). Housing starts were down 21.4% […]
Ukrainian President Volodymyr Zelensky will join Hollywood actor Sean Penn by video link on Thursday at the opening of the Berlinale, Europe’s first major film festival of the year, as it spotlights the fight for freedom in Ukraine and Iran. The 73rd annual event, traditionally the most politically minded of the three big European cinema […]
The UK is working on a new arrangement with Greece through which the Parthenon Sculptures could be seen both in London and in Athens, British Museum chair George Osborne said on Thursday, describing it as a win-win situation. Osborne, a former finance minister, reiterated that the museum was having constructive talks with the Greek government […]
California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. Bill Lowman was named vice chairman of APM, a newly created position while Ned Payment was promoted to chief executive officer from president of APM. Dustin Sheppard also moved up the ladder to president […]
When Raquel Welch donned a deerskin bikini for a 1966 caveman screen epic, she became one of the hottest sex symbols of her time, a role she never felt able to escape. The film was mediocre, but the poster for “One Million Years BC” went round the world, taking her with it and making both […]
After Celebrity Home Loans reportedly laid off most of its employees this week without paying their last paychecks, commissions and severance payments, On Q Financial said the deal to acquire some of the company’s assets has fallen apart. “There’s nothing left to acquire,” Patrick Lamb, an executive at On Q Financial, said during an interview. […]
This year’s New York Fashion Week is wrapping up after featuring genderless style, throwback 1990s fashion and colorful knitwear to fight sadness. Nina Vishneva has the story, narrated by Anna Rice. Producer: Anna Rice. Camera: Vladimir Badikov. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company unification and new platform come as mortgage origination volume falters and lenders struggle to stay afloat in a high mortgage rate environment. The TrustEngine Borrower Intelligence […]
Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program. “Working with Ameris Bank’s warehouse division SVP Jill Gainer helped ensure the set-up process was straightforward, and our first two […]
Expectations that high inflation may persist for longer than previously projected put pressure on mortgage rates last week. In turn, it affected borrowers’ appetite for home loans. The latest Mortgage Bankers Association (MBA) survey showed that mortgage loan application volume declined 7.7% for the week ending Feb. 10 from the previous week. Compared to the […]
Today, the U.S. Department of Education (Department) announced first-ever awards, totaling over $18 million, for the Augustus F. Hawkins Centers of Excellence Program grants to increase high-quality teacher preparation programs for teachers of color, strengthen the diversity of our teacher pipeline, and address teacher shortages. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
Given the hotter inflation reported in Tuesday’s CPI data, can mortgage rates go above the 2022 peak of 7.37%? Initially the 10-year yield fell after the report, then rose higher, only to fall back down again. For all the hype around today’s stock market close, it was a dud of a Valentine’s date if you ask […]
The Community Home Lenders of America (CHLA) wants small banks to be exempted from the proposed rules from the Consumer Financial Protection Bureau (CFPB) that order registry for nonbank financial services providers. In December, the CFPB published a proposed rule that would require certain nonbank covered entities to report certain public agency enforcement actions and […]
Six months after shutting down its correspondent lending division, Illinois-based mortgage company Celebrity Home Loans‘ bread-and-butter retail channel is also at risk, multiple sources told HousingWire. According to former employees and business partners, several Celebrity’s retail branches transitioned to another lender in December and January. Celebrity is also in talks to strike a deal with […]
Earnings at Fannie Mae in 2022 sank to $12.9 billion as the housing market deteriorated, down dramatically from $22.1 billion in 2021, the government sponsored enterprise reported Tuesday. Last year’s $9.3 billion decrease in net income was primary driven by an $11.4 billion decline in home prices and a $1.6 billion shift to investment losses, […]
Timothy Bowler, president of Intercontinental Exchange, Inc. Benchmark Administration (IBA), will take on a new role as president of ICE Mortgage Technology starting on March 1. Bowler will be in charge of ICE’s business segment, which is focused on automating elements of the mortgage industry and delivered a revenue of $1.1 billion in 2022, the […]
Ethiopia has long struggled with problems of communal friction turning into violent, ethnic conflict. Members of the two largest ethnic groups, the Oromos and Amharas, have come together to showcase traditional conflict resolution through musical drama. Maya Misikir reports from Adama, Ethiopia. Camera: Vinicius Assis. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
A German newspaper critic had animal feces smeared on her face in the city of Hannover by a ballet director who apparently took offense at a review she wrote. The Hannover state opera house apologized for the incident and said Monday that it was immediately suspending ballet director Marco Goecke. The daily Frankfurter Allgemeine Zeitung […]
Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022. The counterclaim is a response to a lawsuit filed by […]
The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. Here is a quick rundown from last week: Purchase application data had a 3% week-to-week increase. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. Weekly housing inventory continues […]
Jay Farner will retire as CEO of Rocket Companies in June, ending his 27-year stint at the firm. He stepped down as member of the board of directors last week, Rocket disclosed in a filing with the Securities and Exchange Commission. On February 8, Farner, 49, notified the board of directors of Rocket of his […]
The drop in mortgage rates and seasonal tailwinds boosted mortgage rate lock activity by 32% in January, ending a nine-month streak of declines, according to Black Knight’s originations market monitor report. “Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black […]
Rihanna made her long-awaited return to the stage at the Super Bowl with a career-spanning medley of pop bangers, but it was her baby bump that dominated the conversation. The megastar appeared in the stadium midair on a floating stage, donning a clingy, all-red ensemble featuring a molded bustier — and a belt below what many […]
A court run by Yemen’s Iran-backed rebels on Sunday upheld a five-year sentence against a female actor and one of her companions who were convicted of committing an indecent act and having drugs in her possession, her lawyer said. The arrest of Intisar al-Hammadi and the three other women in February 2021 — as well […]
A halftime show that Rihanna promises will be “jam-packed” will sit at the center of the celebrity supplements to Super Bowl 57. But the 13-minute mini-extravaganza, her first live event in seven years, is only one part of the entertainment sideshow surrounding Sunday’s big game between the Philadelphia Eagles and Kansas City Chiefs at State […]
Visitors to one of Florence’s most iconic monuments — the Baptistry of San Giovanni, opposite the city’s Duomo — are getting a once-in-a-lifetime chance to see its ceiling mosaics up close thanks to an innovative approach to a planned restoration effort. Rather than limit the public’s access during the six-year cleaning of the vault, officials […]
Australia has nominated a culturally sensitive Aboriginal area that is home to the world’s largest collection of rock art for United Nations heritage protection. The Burrup Peninsula, 1,500 kilometers north of Perth, the Western Australian state capital, has 50,000 years of First Nations history, including millions of a type of rock carving called petroglyphs. It […]
When Enrique Vera opens the door to his workshop, an array of gleaming gold and silver matadors’ jackets shine in the sun. “It is little bit like a cave full of treasure,” he says. Vera painstakingly fashions the brilliant trajes de luces (suits of lights) which are worn by bullfighters when they face half-ton bulls […]
Beret Kechian, branch manager at loanDepot Beret Kechian: I’d say like, you know, probably 90 to 95% would be New Jersey, with New York and Pennsylvania making up the difference. Within New Jersey, [and] specifically Hudson County – which is a place that’s right across from New York City – [it] is very much like […]
Nashville, Tennessee-based mortgage lender Guaranty Home Mortgage Corporation (GHMC) has rolled out its new borrower online application portal, GAssist. The portal is designed to offer GHMC partners a “unique borrower online application experience” at no additional costs. The GAssist portal will provide its partners, which include community banks, credit unions, and brokers, with tools that […]
The servicing portfolio propelled Mr. Cooper Group‘s overall earnings in the fourth quarter of 2022 when cost-cutting initiatives weren’t enough to bring the origination business to profitability. And investors can expect the company to keep growing its servicing business in the months to come. Mr. Cooper reported on Friday it delivered $1 million in net […]
Nonbank mortgage lender and servicer Mr. Cooper has signed a definitive agreement to acquire the investment management firm Roosevelt Management Company, LLC., the company confirmed on Friday. The deal also includes the operations for affiliated company Rushmore Loan Management Services, LLC. “This acquisition will provide us with an asset management platform to raise third-party capital […]
Black Knight has decided to sell its loan origination software business Empower in a bid to save the $13 billion deal with Intercontinental Exchange Inc (ICE), Reuters reported, citing sources familiar with the matter. The Federal Trade Commission (FTC) has been scrutinizing the ICE-Black Knight deal for months amid mounting concerns from U.S. lawmakers and […]
Scientists have a mystery on their hands after the discovery of 330 stone tools about 2.9 million years old at a site in Kenya, along Lake Victoria’s shores, that were used to butcher animals, including hippos, and pound plant material for food. Which of our prehistoric relatives that were walking the African landscape at the […]
A regulator in Illinois has suspended the MLO license of industry veteran Michael Strauss and the license for his mortgage company, Smart Rate Mortgage, essentially blocking the company from operating in the state, according to the Nationwide Multistate Licensing System (NMLS). The Division of Banking at the Department of Financial and Professional Regulation in Illinois […]
The 2023 market is unlike those we’ve seen in previous years. We’re coming off of back-to-back years where mortgage rates were in the 2s and 3s, and they’re now in the 6s. In a market like this, every lead, loan and basis point matters more than ever for LOs. Dave Savage, chief innovation officer for […]
Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. At the end of the fourth quarter, the index stood at its lowest level since the NAHB began tracking the data on a consistent basis in 2012. Despite this, […]
Optimism spread across the mortgage industry at the start of 2023. Signs that the disinflationary process was working raised hopes that the Federal Reserve may stop the federal funds rate hikes sooner rather than later. Mortgage rates also dropped about 30 basis points in January, hitting the lowest level since September 2022. But February brought a […]