Whenever people want to get a mortgage, they search for professionals who can streamline the process. That’s precisely when your mortgage broker business comes to the rescue. In this article, you will find tips on how to grow your business, as well as five big mistakes that you may be making in the process. Ways […]
Fannie Mae and Freddie Mac’s pricing frameworks may see changes to better serve “core mission borrowers,” according to the Federal Housing Finance Agency (FHFA). The regulator also, again, argued for examination authority over entities doing business with the government-sponsored enterprises. In its annual report to Congress, FHFA said it instructed the enterprises to “begin updating […]
In this HW+ Slack Q&A, HousingWire Lead Analyst Logan Mohtashami answers questions from our HW+ member community. Mohtashami focused on the latest inventory and the Federal Reserve’s rate hike announcement. As a member of HW+, you get access to 30-minute Slack Q&As, where we invite the HW Media newsroom to break down the hottest topics in the industry. This […]
The Federal Reserve (Fed) on Wednesday did something it hadn’t done in more than two decades: it raised the federal funds rate by 75 basis points, to 1.50-1.75%, a hike not seen since 1994. The decision, designed to slow the pace of inflation, which reached 8.6% in May for the highest mark in more than […]
A panel of experts assembled at a recent Mortgage Bankers Association (MBA) conference in New York predicted that adjustable-rate mortgages (ARMs) will become far more popular this year as purchase mortgages increasingly dominate a housing market contending with fast-rising interest rates. A June market report by a major digital mortgage-exchange and loan-aggregator, MAXEX, which offers an […]
In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played […]
“A decade ago, the Obama-Biden administration worked alongside Dreamers and immigration experts to establish DACA. Since then, DACA has provided hundreds of thousands of people who grew up in the United States, living American lives and dreaming American dreams, with protection from deportation, access to work permits and education, and hope for a brighter future. […]
Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve, mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10. Refinancing applications increased 4% from the prior week but were still 76% lower than the same […]
Owners of a Florida-based law firm were ordered to pay close to $4.6 million to settle claims that they allegedly ran a mortgage loan modification and foreclosure rescue scheme that targeted Hispanic homeowners. The consent order puts an end to a lawsuit originally launched by the Department of Justice in 2018 against law firm Advocate […]
Citing “concern about holding individual athletes accountable for the actions and decisions of their governments,” the U.S. Tennis Association will let Russian and Belarusian tennis players participate in the U.S. Open later this summer. Wimbledon will still maintain the ban on those athletes, which will include the world’s No. 1 player, Daniil Medvedev. Medvedev is […]
On Tuesday, the other shoe dropped. With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. Redfin CEO Glenn Kelman said the brokerage/listings platform made the tough decision to lay off 470 workers across several […]
The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Fannie Mae and Freddie Mac’s equitable housing finance plans further expand non-traditional property appraisals, which sometimes rely on property tax information, data collected […]
Growing up in the Democratic Republic of Congo, Bismack Biyombo dreamed of playing professional basketball in the United States. His dream has been reality ever since he was drafted into the NBA more than a decade ago. But what he’s doing off the court gives a notable assist to his home country. The 29-year-old center […]
Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 million that was divided into two separate pools. The top bidder is MCLP Asset Co., which is registered as a debt-collection agency with the city of New York’s Department of […]
Today, the U.S. Department of Education’s Office for Civil Rights (OCR) announced the resolution of a student’s complaint of pregnancy discrimination against Salt Lake Community College, in Utah. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Fannie Mae aims to track refinance activity and refinance application trends through its newly launched Refinance Application-Level Index (RALI). The RALI, which sources data from Fannie Mae’s Desktop Underwriter to show the past week’s refinance application trends and prepayment projections, will publish each Tuesday at 10 a.m. EST, according to Fannie Mae. Fannie Mae’s new […]
About 5 million Ukrainian refugees have fled to other parts of Europe since Russia’s assault on their homeland began in February. Among them: nearly three dozen dancers from the Kyiv City Ballet. They’ve found refuge in Paris and continue to perform and plan foreign tours, but the conflict is never far away. For VOA, Lisa […]
Mortgage delinquency rates in March fell below the 3% mark, reaching another historic low as a strong labor market and income growth drove down the number of property owners who are late on their mortgage payments. About 2.7% of all mortgages in the U.S. were delinquent in March, dropping 2.2 percentage points from the 4.9% […]
Today, the U.S. Department of Education launched the National Parents and Families Engagement Council (the Council) to facilitate strong and effective relationships between schools and parents, families and caregivers. Families’ voices play a critical role in how the nation’s children are recovering from the pandemic. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
A startup professional golf tour backed by Saudi Arabia’s sovereign wealth fund has roiled the usually staid world of professional golf — the PGA Tour — in the United States. The PGA suspended 17 professional players last week for participating in the inaugural Saudi tournament, which began June 9. The new tour, the LIV Golf […]
Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. CIRT 2022-6 involves a covered loan pool composed of 63,000 single-family mortgages with a total unpaid principal balance of about $19.3 […]
Non-QM lender Angel Oak Cos., through its mortgage-backed securities conduit Angel Mortgage Trust, is out with its fourth private-label securities offering of 2022, even as rate volatility in the market continues to throw sand in the market’s gears. The recent offering, AOMT 2022-4, involves a pool of 407 mortgages valued at $217.2 million and includes primarily non-QM […]
The watchdog tasked with oversight of the Federal Housing Finance Agency (FHFA) laid out its strategic priorities for the next four years. Federal Housing Finance Agency Office of Inspector General will carry out oversight to make sure FHFA ensures the safety and soundness of the entities it regulates and is an effective conservator of Fannie […]
Overall mortgage rate lock took a hit in May, led by a drop in refinance activity, both for rate-term refis and cash-outs. In a higher rate environment, lenders were more reliant on the purchase market for origination volumes. Rate locks were down 4.8% last month, according to Black Knight’s monthly mortgage originations market report. Purchase […]
June is Lesbian, Gay, Bisexual, Transgender and Queer Pride Month. In the Western U.S. state of Colorado, multimedia artists are exploring the intersections of gender identity and disability. VOA’s Scott Stearns has the story from Denver. WARNING: The video contains a brief depiction of nudity. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
Today, the U.S. Department of Education furthered the Biden-Harris Administration’s whole-of-government response to the tragic mass shooting at Robb Elementary School by disbursing a $1.5 million School Emergency Response to Violence (Project SERV) grant to the Uvalde Consolidated Independent School District (UCISD). details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website […]
“A Strange Loop,” an irreverent, sexually frank work about Blackness and queerness took home the best new musical crown at the Tony Awards on Sunday, as voters celebrated Broadway’s most racially diverse season by choosing an envelope-pushing Black voice. Michael R. Jackson’s 2020 Pulitzer Prize drama winner is a theater meta-journey — a tuneful show […]
Darren Criss and Julianne Hough kicked off the four-hour Tony Award celebrations at Radio City Music Hall on Sunday night, handing out mostly design awards exclusively on the streaming Paramount+. Criss opened the telecast with the original song, “Set the Stage,” as he and Hough energetically danced up ladders, on laundry hampers and in sliding […]
An exhibition at the Smithsonian’s National Museum of Asian Art is showcasing a sculpture of a Hindu god that was carved into a Cambodian mountain around year 600. VOA’s Chetra Chap reports on the importance of this Hindu sculpture to a nation that is now primarily Buddhist. details ⇒ BusinessMediaguide.Com portal received this content from […]
Favorite Mo Donegal romped to victory at the 154th Belmont Stakes on Saturday while Rich Strike, the longshot winner of the Kentucky Derby could not pull off another surprise at Elmont, New York. Mo Donegal, fifth at the Kentucky Derby, settled in midpack for much of the mile-and-a-half race then made his move coming onto […]
Lenders and mortgage tech companies have been cutting costs in the downmarket, but some firms have hired new executives who they hope will provide better strategies to navigate the shrinking loan origination market. Motto Mortgage, a national mortgage brokerage franchise, and wemlo, a mortgage processing solution with an all-in-one digital platform, tapped Chris Erickson as vice […]
The Federal Reserve’s (Fed) efforts to beat back inflation with its monetary tools have already shifted the winds in the secondary market for mortgage-backed securities (MBS). The Fed’s continuing effort to wind down its $2.7 trillion MBS portfolio helps fuel widening interest-rate spreads in the MBS market by creating additional MBS supply to be absorbed by investors. […]
Although the war in Ukraine has entered its fourth month, local artists have not stopped working. For many Ukrainians, art during the wartime is a powerful tool that helps people stay strong and inspired. Omelyan Oshchudlyak has the story. Video Editor: Yuriy Dankevych details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Mortgage lenders Doorway Home Loans and Priority Mortgage Thursday announced a merger, the latest of many such deals made during a challenging mortgage market. The companies did not disclose the financial terms of the agreement. Both companies have more than 30 years of experience in residential direct lending, but want to expand market reach and […]
Today, the White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities announced its ninth cohort of HBCU Scholars, recognizing 86 undergraduate, graduate, and professional students for their accomplishments in details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). With a fixed rate for as many as 20 years, RenoFi’s fixed-rate home equity […]
A recently published CoreLogic report found homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% year-over-year. According to the data vendor, the collective equity gain was $3.8 trillion in the first quarter, or an average gain of $63,600 per borrower. CoreLogic said homeowners with mortgages account for roughly 60% […]
Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 billion. The offering, dubbed FNMA 2022-RPL3, represents the agency’s 26th sale of reperforming loans since the inaugural offering in October 2016, which involved a pool of 3,600 reperforming loans valued at about $806 million. […]
Interest rates jumped by more than 2 percentage points over the first quarter of 2021. That bolt-like spike in rates put many mortgage lenders into crisis mode. Lenders saw the value of agency loans made at lower rates — in the 3% range — in 2021 and early January 2022 drop precipitously over the course of […]
After falling for three consecutive weeks, purchase mortgage rates jumped 14 basis points, reflecting the expectation that the Federal Reserve (The Fed) will maintain its tightening monetary policy to fight inflationary pressures. According to the latest Freddie Mac PMMS, purchase mortgage rates this week averaged 5.23%, compared to 5.09% the week prior. A year ago at this […]
Today, U.S Secretary of Education Miguel Cardona will lay out his vision for how the nation can support teachers across the country and elevate the teaching profession. During an address and fireside chat at the Bank Street College of New York, Secretary Cardona will discuss how the Department, states and districts, and higher education institutions […]
Today, U.S. Secretary of Education Miguel Cardona issued the following statement on the confirmation of Amy Loyd as Assistant Secretary for the Office of Career, Technical, and Adult Education: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. The 2022 to 2024 plans will […]
Verification solutions provider Xactus wants to court more lenders through its active listing data in a tight housing market. Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood. The monitoring program, covering all 50 […]
The planned merger between Intercontinental Exchange Inc. and Black Knight may be subject to scrutiny from the Department of Justice and the Consumer Financial Protection Bureau over antitrust concerns raised by the Community Home Lenders Association. In its Wednesday letter to the DOJ, CHLA claimed the small and midsize independent mortgage banks it represents would […]