Florida-based wholesale lender A&D Mortgage has secured a $250 million capital commitment from alternative asset manager Canyon Partners to support the securitization of non-agency mortgages, the companies announced Monday. The investment will help accelerate the joint securitization program between A&D and Imperial Fund Asset Management, enabling the issuance of up to $5 billion in non-agency […]
Ginnie Mae, the government-owned corporation within the U.S. Department of Housing and Urban Development (HUD) that provides funding for many U.S. mortgages, now has a nominee to fill its long-vacant president’s role. Over the weekend, the Senate received Joseph Gormley’s nomination to lead Ginnie Mae and forwarded it to the committee on banking, housing and […]
Six North Carolina borrowers have filed separate lawsuits against CrossCountry Mortgage and a local real estate brokerage, alleging they ran a kickback scheme disguised as a co‑marketing deal. The complaints accuse the national lender of paying Raleigh Realty $15,000 per month in 2021 and 2022 in exchange for exclusive client referrals. Nearly identical filings also […]
Our industry stands at a critical crossroads in the rapidly evolving mortgage technology landscape. For decades, customer service teams have been relegated to roles as reactive problem solvers and order-takers who simply put out fires as they arise. Still, the future of mortgage technology demands a radical reimagining of what customer success truly means. With […]
The Homebuyers Privacy Protection Act (H.R. 2808) passed through the U.S. Senate with unanimous consent and without amendments late Saturday. The legislation gained approval from the U.S. House of Representatives earlier in June. The legislation is designed to enact a national prohibition on the misuse of trigger leads. Under this act, companies are prohibited from […]
The American dream of homeownership has been a way to build wealth for decades as people pay down their debt while their homes appreciate in value. The result is a nice home equity nest egg — especially for seniors who have owned homes for many years. But an outdated tax law could claw back much of […]
Welcome back to Tech Pulse — HousingWire‘s weekly series rounding up the latest in technology news, including tools, integrations and trends that impact mortgage and real estate. Here’s what happened this week: ICE posts $851M profit in Q2 2025, raises revenue guidance Intercontinental Exchange reported $851 million in net income for the second quarter and a return to profitability in […]
The Federal Reserve Board announced on Friday that Adriana D. Kugler will step down from her position as governor. Kugler, whose term was set to expire at the end of January 2026, joined the board of governors in September 2023 after being nominated by former President Joe Biden. She submitted her letter of resignation to […]
Existing investors in Flyhomes, a fintech company that specializes in buy-before-you-sell products, have committed an additional $15 million in a Series D funding round to expand the company’s wholesale lending platform nationwide. “This is a natural evolution of our business,” Flyhomes CEO Tushar Garg said in a statement. “Our Series D funding and the recent […]
Intercontinental Exchange (ICE) on Thursday announced net income of $851 million and a return to profitability in its mortgage segment for the second quarter of 2025. ICE, which operates exchanges including the New York Stock Exchange, posted $2.5 billion in net revenue from April through June, with $1.4 billion from exchanges, $597 million from fixed […]
Rocket Companies, the parent of Rocket Mortgage, has returned to profitability despite a challenging second quarter for the mortgage industry, marked by economic uncertainties in the U.S. The company is now focusing on integrating the recently acquired real estate brokerage firm Redfin, which has already shown early benefits. In the second quarter, Rocket reported a […]
Homebuyer affordability improved in June, as evidenced by the national median payment for purchase mortgage applicants decreasing to $2,172 — down from $2,211 in May. That’s according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time relative to income, using data from MBA’s […]
The boards of directors for Rocket Companies and Mr. Cooper Group have given their approvals to the eye-opening, $9.4 billion all-stock deal first announced in late March. Under the agreement, Mr. Cooper’s common stock, valued at $0.01 per share, will automatically convert into the right to receive 11 shares of Rocket’s Class A common stock. […]
Optimal Blue announced on Wednesday a new capability in its product, pricing and eligibility (PPE) engine that fully automates the process for a lock desk user to execute locks directly with participating investors through an application programming interface (API). The PPE already automates pricing, lock requests, post-lock changes and mandatory execution. This week’s move eliminates […]
Freddie Mac released its second-quarter 2025 earnings on Thursday morning, reporting net income of $2.4 billion from April through June. That marked a decrease of 14% compared to the same period last year, driven primarily by an increase in the provision for credit losses. At the end of Q2, Freddie‘s net worth was $65 billion. […]
ICE is rewriting the playbook on how lenders engage with customers across the homeownership journey. Matt Dowd, VP of Product Management at ICE, shares the company’s strategy to unify its origination and servicing solutions, allowing lenders to more easily identify, engage and convert opportunities within their existing portfolios to drive business growth. This integrated approach […]
President Donald Trump on Wednesday signed Rep. Derrick Van Orden’s bill, the VA Home Loan Program Reform Act, into law after it received approval last week from the Senate. The VA Home Loan Program Reform Act will reform the U.S. Department of Veterans Affairs (VA) mortgage program by adding a partial claim option — a […]
After a public backlash against the Social Security Administration (SSA) earlier this year, the federal agency said it would walk back some of its plans that would’ve required more beneficiaries to make in-person office visits. But a report released this week by the Center on Budget and Policy Priorities (CBPP), a nonpartisan research group, counteracts […]
The Federal Reserve has decided to hold its benchmark interest rate steady at a range of 4.25% to 4.5% following its two-day meeting on Wednesday. The decision aligns with market expectations as the central bank remains cautious amid persistent inflation. Most market participants are now anticipating a rate cut in September, which could provide relief […]
A bipartisan group of U.S. senators is urging the Trump administration to release $324 million in funding that was already approved to help small businesses and communities in poor and rural areas. In a letter viewed by Bloomberg News, lawmakers led by Senate Banking Committee members Mike Crapo (R-Idaho) and Mark Warner (D-Va.) requested that […]
Fannie Mae announced its second quarter 2025 earnings on Wednesday and reported net income of $3.3 billion, which marked the government-sponsored enterprise’s 30th consecutive quarter of positive earnings. The company grew its net worth to $101.6 billion, representing $88.1 billion in net worth added since the start of 2020 and up from the first quarter’s […]
Mortgage applications decreased 3.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending July 25, 2025. The decrease represented the applications’ lowest level since May. On an unadjusted basis, the index decreased 4% compared with the previous week. “Mortgage applications fell to their […]
A new bill introduced in the Senate would require Fannie Mae and Freddie Mac to consider unconverted digital assets in mortgage underwriting. Sen. Cynthia Lummis (R-Wyo.) introduced the legislation, known as the 21st Century Mortgage Act, on Tuesday. S.B. 2471 is a response to a directive from Bill Pulte, the director of the Federal Housing […]
Amid increasing levels of mortgage fraud, the FBI has renewed a warning to Americans about an app that could trick victims into losing their entire banking, savings, retirement or investment accounts. The FBI first issued a public service announcement on the Phantom Hacker scam in September 2023. But on July 15, the bureau’s Los Angeles […]
Mortgage rates have stayed remarkably consistent for much of 2025. With the calendar set to flip to August this week, there’s little to suggest that trend will change. On Tuesday, HousingWire’s Mortgage Rates Center showed that rates for 30-year conforming loans averaged 6.91%, down 1 basis point from a week ago. Rates for 30-year loans […]
The bipartisan “Renewing Opportunity in the American Dream to Housing Act of 2025,” or “ROAD to Housing Act,” took a step forward on Monday, advancing through a Senate Banking Committee markup. The legislation, led by Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.), aims to increase housing supply and affordability while improving oversight […]
Audit software and automation solutions company LoanLogics announced Tuesday that 11.5% of all U.S. mortgage file content was missing or erroneous over the past 10 years, according to an analysis of internal data. LoanLogics provides technology used to originate, manufacture, audit and service loans. Its systems process more than half of all U.S. mortgages each […]
ICE Mortgage Technology’s new integration of its servicing and origination platforms reflects a broader trend in the mortgage industry — offering home equity loans while rates remain high and preparing for refinances as rates begin to decline. The same logic underpins deals such as Rocket Companies’ acquisition of Mr. Cooper Group and Bayview Asset Management’s […]
Anthony Hsieh is back in the CEO role at loanDepot — the company he founded in 2010 — on a permanent basis. His focus will be on returning the mortgage lender to profitability and regaining market share, the company announced on Monday. Hsieh stepped down as CEO in April 2022 and was succeeded by industry […]
Figure Technology Solutions, a blockchain-native capital marketplace, announced on Monday an expansion of Intellidebt, its Direct Debt Payoff (DDP) solution. The move aims to allow borrowers to consolidate existing liens and high-interest debt directly through the loan application process. The upgrade boosts borrower qualification potential by improving combined loan-to-value (CLTV) ratios, debt-to-income (DTI) ratios and […]
The Federal Housing Finance Agency (FHFA) is proposing to repeal its fair lending, fair housing and equitable housing finance rule, arguing that the regulation is duplicative that the repeal aligns with prior executive orders aimed at streamlining agency functions. The rule, finalized in May 2024 under the Biden administration, required Fannie Mae and Freddie Mac […]
Rithm Capital, the parent of multichannel mortgage lender Newrez, said it’s not currently moving forward with plans on an initial public offering for the subsidiary as it focuses on supporting the firm’s broader portfolio. Instead, the firm is turning its attention to mergers and acquisitions, even amid macroeconomic uncertainty. “First of all, we spent a […]
A class action lawsuit filed this week against loanDepot, alleging steering and violations of loan originator (LO) compensation rules, has brought to light practices used by lenders for years that lacked clear guidance from the Consumer Financial Protection Bureau (CFPB). Attorneys told HousingWire that lenders often allow compensation tied to lead source and internal loan […]
Go Mortgage‘s majority owner and CEO Michael Isaacs have parted ways, sources told HousingWire this week. Staff at the Ohio-based retail lender were told on Monday that Isaacs’ tenure was over, and that majority owner Jordan Hansell had named himself as interim CEO. The departure was a mutual decision, with Hansell and President Andrew Paganos […]
Welcome back to Tech Pulse — HousingWire‘s weekly series rounding up the latest in technology news, including tools, integrations and trends that impact mortgage and real estate. Here’s what happened this week: Senate Democrats press FHFA on crypto use in mortgages Five Senate Democrats are urging caution as the Federal Housing Finance Agency considers allowing unconverted cryptocurrency in mortgage underwriting. […]
Five Senate Democrats are raising concerns about the potential risks of using unconverted cryptocurrency assets in mortgage underwriting, urging the Federal Housing Finance Agency (FHFA) to tread carefully. In a letter addressed to FHFA Director Bill Pulte, the senators reacted to his social media post from late June, in which Pulte said the agency is […]
Nearly two-thirds of retirees are dissatisfied with Social Security benefits, according to a new survey conducted by The Senior Citizens League (TSCL). The average monthly Social Security check reached north of $2,000 this year, according to the survey, with just 10% of the 1,920 respondents saying they were satisfied with that amount. Roughly 63% reported […]
Nearly two dozen members of Congress recently sent a letter to Bill Pulte, director of the Federal Housing Finance Agency (FHFA), that supports his decision to accept VantageScore 4.0 credit scores for mortgages purchased by Fannie Mae and Freddie Mac. The lawmakers, led by Rep. Mike Flood (R-Neb.), said that the move will help President […]
Another merger and acquisition deal has hit the housing industry. Real estate and mortgage intelligence provider InGenius announced Wednesday that it has acquired SIMPL, a recruitment platform designed to support retail mortgage branch managers, and it has incorporate it into its existing data tools. Built by Fobby Naghmi and John Perry, SIMPL stands for Strategic […]
Barry Habib, the founder and CEO of MBS Highway and a go-to source for mortgage industry predictions, has been named to Fannie Mae‘s board of directors. A recent filing with the Securities Exchange Commission (SEC) confirmed that Habib had been appointed to the board effective July 21. “The appointment of Mr. Habib is until the […]
On Wednesday, Reverse Mortgage Daily (RMD) brought you a ranking of the top five reverse mortgage loan originators in America. Today, we’ll round out the rest of the top 10 based on data from mortgage recruiting software provider Modex. #6: Jacob Flax, Caliver Beach Mortgage, $76.17 million The third member of the Caliver Beach Mortgage […]
Texas Attorney General Ken Paxton and his wife, Angela — who own three homes in Texas — are facing similar accusations of mortgage fraud as the ones President Donald Trump levied against Sen. Adam Schiff of California and New York AG Letitia James. According to records assessed by The Associated Press (AP), mortgages signed by […]
HousingWire reports on the quarterly earnings of publicly traded mortgage and real estate companies, offering a glimpse into the financial performance of key players in the housing market. As earnings results begin to be released for the second quarter of 2025, here’s a rundown of what’s happening at the major lenders, brokerages, listing portals and […]
Customer satisfaction with mortgage servicers has plummeted this year, with an average satisfaction score that’s now much lower than the typical score for mortgage originators. That’s according to J.D. Power‘s 2025 U.S. Mortgage Servicer Satisfaction Study, released onThursday. J.D. Power said the gap comes down to communication and service. While 30-year mortgage rates remain high […]
Dozens of former Fannie Mae employees filed a lawsuit this week, alleging discrimination after being abruptly fired in April over donations made through the government-sponsored enterprise’s charitable program. The lawsuit, filed Monday in the U.S. District Court for the District of Columbia, claims that on April 2, more than 80 employees received an email from […]