General World News

Ex-loanDepot COO: Tony Hsieh cut corners to boost volume

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A former executive at loanDepot dropped a bombshell on the mortgage industry late Wednesday, alleging in a lawsuit that the California-based nonbank lender, in a ploy to drum up money during the refi boom and in preparation for its initial public offering, closed thousands of loans without proper documentation. The suit, filed by Tammy Richards, […]

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Washington’s Kennedy Center Marks 50th Anniversary

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The Kennedy Center for the Performing Arts in the U.S. capital began its 50th anniversary season in mid-September with musicians back on stage and spectators in their seats. But some COVID-19 measures remain in place for the new season. Karina Bafradzhian reports. Camera: Sergey Sokolov details ⇒ BusinessMediaguide.Com portal received this content from this noted […]

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U.S. Department of Education Awards Project SAFE Funds to Florida School District Following State-Imposed Penalty for Implementing COVID-19 Safety Measures

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Today, the U.S. Department of Education awarded the School Board of Alachua County $147,719 in funding under the new Project to Support America’s Families and Educators (Project SAFE) grant program. This is the first award under Project SAFE, and funding will support the Florida school district’s efforts to protect students as they return to safe, […]

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Mortgage rates continue to idle at 2.88%

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The average 30-year-fixed mortgage rose, ever so slightly, to 2.88% for the week ending Sept. 23, according to Freddie Mac‘s latest PMMS survey. Mortgage rates have been roughly flat for months now. “The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets,” said Sam Khater, […]

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U.S. Department of Education Announces Fiscal Year 2021 Grant Awards to Showcase Commitment to Equity, Excellence, and Opportunity

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Today, the U.S. Department of Education (Department) Office of Postsecondary Education (OPE) announced it is on track to award more than 5,100 grants, totaling around $2.6 billion dollars, to new and existing grantees by September 30, 2021. Grants provided by the Department under these programs will directly serve more than 1.3 million students and millions […]

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Melvin Van Peebles, Godfather of Black Cinema, Dies at 89

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Melvin Van Peebles, the groundbreaking filmmaker, playwright and musician whose work ushered in the “blaxploitation” wave of the 1970s and influenced filmmakers long afterward, has died. He was 89. In a statement, his family said Van Peebles, father of the actor-director Mario Van Peebles, died Tuesday evening at his home in Manhattan. “Dad knew that […]

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Tai Christensen to speak at HW Annual Sept. 27-28

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The Biden administration recently announced its efforts to address the lack of affordable housing in America by increasing funding for existing programs geared toward producing, financing and rehabilitating affordable housing. HousingWire invited Tai Christensen, director of government affairs for CBC Mortgage Agency, to HW Annual Sept 27-28 to discuss these recent efforts by the Biden […]

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How can the mortgage industry retain more employees?

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Sandra Madigan, digital product director, enterprise product strategy, servicing technologies at Black Knight This year’s list of HousingWire Insiders radiate influence well beyond the walls of their individual companies, providing the infrastructure that upholds the whole industry. HousingWire decided to dive deeper into a few of our award winners to get a peek behind the curtain […]

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U.S. Department of Education Announces Over $40 Million to New Cohort of Promise Neighborhoods Grantees

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The U.S. Department of Education today awarded over $40 million to the newest cohort of Promise Neighborhoods grantees across seven states. This announcement comes as U.S. Secretary of Education Miguel Cardona continues the Department’s “Return to School Road Trip” in Indiana today. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website […]

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Refis stubbornly make a bit of a comeback

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The week following Labor Day saw a flurry of mortgage loan application activity, with volume jumping by 4.9% for the seven days ending Sept. 17, according to the Mortgage Bankers Association. Refis were on the front foot again. The increase in application activity is quite different from the MBA’s survey published in early September, which […]

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Jeffrey Naimon to speak at HW Annual Sept. 27-28

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A series of regulatory changes are taking place in housing due to a new political administration and the country’s reckoning with racial inequality in homeownership. That’s why HousingWire invited attorney Jeffrey Naimon, partner at the Buckley LLP Washington, D.C. office, to HW Annual to explain what these new regulations mean for the housing economy.  Naimon […]

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Lenders mandated to use FHA Catalyst for appraisals

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Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. The FHA Catalyst: Electronic Appraisal Delivery module will allow for the administration to expand their data collection and analysis […]

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U.S. Department of Education Announces 2021 National Blue Ribbon Schools

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U.S. Secretary of Education Miguel Cardona today recognized 325 schools as National Blue Ribbon Schools for 2021. The recognition is based on a school’s overall academic performance or progress in closing achievement gaps among student subgroups. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education

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Forbearance numbers fall as borrower exits remain high

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Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis points to 3.00% as of Sept. 12, according to the Mortgage Bankers Association (MBA).       The most notable decline was in the portfolio loans and private-label securities […]

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Fannie Mae cuts origination forecast for 2022

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Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. Fannie Mae dropped its projected origination volume for 2021 to $4.33 trillion from the $4.36 trillion it projected in August. It also downsized its 2022 […]

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In a purchase market, rookie LOs may struggle

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Rookies that pursued a career as mortgage loan originators in 2020 air dropped into a scintillating real estate market. There was easy money to be made – refi opportunities were bountiful, lenders hired tens of thousands of workers to meet capacity, and even showered underwriters with five-figure bonuses on top of $150,000 salaries. Rookie LOs […]

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‘Ted Lasso,’ ‘The Crown,’ Win Top Emmy Awards on Streaming Heavy Night

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Royal drama “The Crown” and feel good comedy “Ted Lasso” nabbed the top prizes at television’s Emmy awards on Sunday on a night dominated by streaming shows, British talent and rare wins by women.  Chess drama “The Queen’s Gambit” was named best limited series and tied with “The Crown” for the most wins overall at 11 apiece.   The best drama series […]

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‘Ted Lasso,’ ‘The Crown,’ Win Top Emmy Awards on Streaming Heavy Night

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Royal drama “The Crown” and feel good comedy “Ted Lasso” nabbed the top prizes at television’s Emmy awards on Sunday on a night dominated by streaming shows, British talent and rare wins by women.  Chess drama “The Queen’s Gambit” was named best limited series and tied with “The Crown” for the most wins overall at 11 apiece.   The best drama series […]

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Support for Thompson to permanently lead FHFA grows

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Influential Congresswoman Maxine Waters has waded into the growing debate about who should lead the Federal Housing Finance Agency (FHFA). And her pick – though she doesn’t get a vote – is the acting director, Sandra Thompson. “Appointed on June 23 as acting director, Ms. Thompson has needed little time to show this nation how uniquely […]

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Secretary Cardona Congratulates 2021 President’s Education Awards Program Recipients

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U.S. Secretary of Education Miguel Cardona today congratulated the 2021 President’s Education Awards Program (PEAP) recipients, recognizing nearly 1.85 million elementary, middle, and high school graduates on their educational accomplishments. The students come from more than 18,750 public, private, and military schools from all 50 states, the District of Columbia, Puerto Rico, Guam, and American […]

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Defects decline as mortgage lenders self-correct

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Mortgage lenders have been making strides to right their wrongs, with critical defects falling to a rate of 2.01% in the first quarter of 2021, according to ACES Quality Management’s report published this week. This marks a notable improvement from the third quarter of 2020, when the critical rate rose to 2.34%, buoyed by increased […]

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Jane Powell, Hollywood Golden-Age Musicals Star, Dies at 92

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Jane Powell, the bright-eyed, operatic-voiced star of Hollywood’s golden age musicals who sang with Howard Keel in “Seven Brides for Seven Brothers” and danced with Fred Astaire in “Royal Wedding,” has died. She was 92. Powell died Thursday at her Wilton, Connecticut, home, longtime friend Susan Granger said. Granger said Powell died of natural causes. […]

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Three Iranian Dissidents to Be Honored by PEN America 

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Three imprisoned Iranian dissidents will be honored next month at Pen America’s annual gala.  The literary and human rights organization announced Thursday that writer-filmmaker Baktash Abtin, novelist-journalist Keyvan Bajan and author-critic Reza Khandan Mahabadi are this year’s recipients of the 2021 PEN/Barbey Freedom to Write Award. All three are members of the anti-censorship Iranian Writers […]

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FHFA proposes changes to GSE capital rule

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The FHFA proposed a rule on Wednesday to amend the Enterprise Regulatory Capital Framework (ERCF) for the GSEs that would refine the leverage buffer and the risk-based capital treatment for CRT transactions. However, far from reopening the whole discussion on the ERCF, the new rule proposes three specific amendments based on comments the FHFA received […]

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U.S. Department of Education Announces New Actions to Improve Educational Outcomes for Students In Puerto Rico

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WASHINGTON — Today, U.S. Department of Education Secretary Miguel Cardona met with Puerto Rico Interim Secretary of Education Eliezer Ramos to discuss new actions to improve educational outcomes for students. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education

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Rocket Mortgage’s Rachel Robinson to speak at HW Annual

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As the housing economy becomes increasingly digital, appraisal modernization may hold the key to not only providing a better experience for borrowers and lenders but also reducing potential appraisal bias. That’s why HousingWire invited Rachel Robinson, director, collateral policy and product development at Rocket Mortgage, to HW Annual to discuss how technology can play an […]

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Reverse mortgage volume drops in August

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The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% to 3,679 loans, with July now having marked the end of a streak of monthly volume above a threshold of at least 4,000 units […]

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The purchase mortgage market continues to pick up steam

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Mortgage loan application volume rebounded from the week prior, increasing by 0.3% for the week ending Sept. 10, according to the Mortgage Bankers Association’s weekly report. The increase in application volume was predominantly driven by purchase mortgage activity, which grew by 8% from the week prior, the trade group said.   Not surprisingly, the refi […]

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Black Knight looks to court brokers with new LOS

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Black Knight is looking to hook mortgage brokers with a new loan origination system designed specifically for them. The Florida-based mortgage tech and analytics behemoth on Wednesday unveiled “LoanCatcher” to mortgage brokers, which it described as an “end-to-end” solution that is integrated into its Surefire CRM and mortgage marketing engine. The direct integration will allow […]

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Norm Macdonald, Former ‘Saturday Night Live’ Comic, Dies

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Comedian Norm Macdonald, a former “Saturday Night Live” writer and performer who was “Weekend Update” host when former U.S. President Bill Clinton and O.J. Simpson provided comic fodder during the 1990s, has died.  Macdonald, who was 61, died Tuesday after having cancer for nine years but kept it private, according to Brillstein Entertainment Partners, his […]

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Treasury, FHFA suspend recent PSPA requirements

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The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac. Under those requirements, Fannie Mae had restricted its acquisition of loans secured by second homes and investment properties to 7% of its […]

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Is Mike Calhoun still in the running for FHFA director?

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Mike Calhoun is president of the Center for Responsible Lending This week the Biden administration announced several high-level nominations, including Alanna McCargo to lead Ginnie Mae. But missing from those announcements was the White House’s widely expected pick for the next permanent director of the Federal Housing Finance Agency(FHFA), Mike Calhoun. Sources told HousingWire at […]

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U.S. Department of Education Announces Return-to-School Road Trip to Spotlight Safe Return to In-Person Learning

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On Monday, Sept. 20, U.S. Secretary of Education Miguel Cardona will launch the “Return to School Road Trip,” a bus tour to showcase students and communities safely returning to in-person learning. Throughout the tour, Secretary Cardona, Deputy Secretary Cindy Marten, and local school leaders will join students, parents, educators, and school communities for events that […]