Executives at Rithm Capital, the parent of multichannel mortgage lender Newrez, said on Friday that the firm will not sacrifice earnings for growth, even amid the mortgage industry wave of consolidation represented by the Rocket Companies’ acquisition of Mr. Cooper Group. That doesn’t mean Rithm is sitting on the sidelines. New York-based Rithm plans to […]
Former loanDepot chief financial officer Patrick Flanagan announced on LinkedIn on Thursday that he’s starting a new position as executive vice president of financial strategy at Rate. Flanagan was one of four senior executives brought on during Anthony Hsieh’s tenure at loanDepot who left the company just two months after its founder was ousted from […]
The HECM Tool — a software platform designed to serve as a reverse mortgage sales conversion tool — announced this week that it has integrated the proprietary reverse mortgage offering from Smartfi Home Loans into the platform’s existing visualization and comparison capabilities. The platform was developed by reverse mortgage industry veteran Tane Cabe. It’s designed […]
Following news earlier this month that the U.S. Department of Veterans Affairs (VA) is moving to end the Veteran Affairs Servicing Purchase (VASP) program, the agency this week published a circular to outline the timeline for its closure. It features additional information about the planned end to VASP, including maintaining the previously reported end date […]
Jordan Bernbaum has been feeling anxious these last few weeks. “On the client end, they’re seeing the news and understanding the situation pretty well,” the NEXA Mortgage senior loan officer said. “On my end, it’s a stress-inducing emotional roller coaster of always worrying when I should be locking. I haven’t lost any deals from it […]
Dark Matter Technologies unveiled a new Developer Portal Thursday during its second annual Horizon user conference. The Developer Portal marks an evolution for Dark Matter’s Empower loan origination system (LOS), moving from API access to “a fully open API ecosystem.” The portal also provides external developers with self-service access to documentation, code samples and integration […]
Better.com today announced a new partnership with Biz2Credit, which will provide Biz2Credit’s customers the option to receive $50,000 to $500,000 in additional financing options through Better.com’s Home Equity Line of Credit (HELOC) and Home Equity Loan (HELOAN) products. As a part of the partnership, Biz2Credit customers will be offered a $250 price concession when funding […]
Lenders face constant pressures to scale their operations while maintaining profitability. Growing and retaining a servicing portfolio helps to maintain and diversify the revenue of a mortgage company, but it isn’t always the sole way to increase productivity. That’s where mortgage subservicers come in. Subservicers take over administrative tasks, leaving you and your organization time […]
A proprietary reverse mortgage product first made available prior to the COVID-19 pandemic and before its discontinuation is now making a return, according to an announcement this week by Onity Group. EquityIQ, the proprietary reverse mortgage product from Onity subsidiary PHH Mortgage Corp.’s reverse mortgage brand Liberty Reverse Mortgage, is now available through the company’s […]
The mortgage industry would benefit from an increase in multifamily loan volume for Federal Housing Administration (FHA)-backed loans, and the U.S. Department of Housing and Urban Development (HUD) would be able to facilitate that by ditching rules and requirements without upping the risk for lenders. This is according to a letter submitted to HUD Secretary […]
In their first earnings call since being acquired by Rocket Companies for $9.4 billion, Mr. Cooper executives did not take questions from analysts. But they did provide a glimpse of the opportunities the deal represents for companies in the mortgage space — or how it intends to power the “Apple of homeownership” flywheel. “This transaction is […]
Mortgage applications decreased 12.7% from a week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 18, 2025. The index decreased 11% on an unadjusted basis compared with the previous week. The refinance index decreased 20% from the previous week, but was still 43% higher than […]
PennyMac Financial Services Inc. (PFSI) on Tuesday reported net income of $76.3 million for the first quarter of 2025 after it posted revenue of $430.9 million. These numbers were down from the previous quarter’s figures of $104.5 million and $470.1 million, respectively. The California-based lender’s pretax income was $104.2 million, which was down from $129.4 […]
As it aims to appeal to potential clients who may be taking a closer look at tapping into home equity, reverse mortgage lender Finance of America (FOA) has debuted a new marketing campaign in concert with its new creative agency to illustrate the lifestyle impacts of its products. The campaign, called “A Better Way with […]
Lawmakers in Congress are about to embark on deliberations that will shape government spending, aiming to balance political priorities with the realities of narrow Republican majorities in the House of Representatives and the Senate. But if any conversation turns to imposing larger fees on homeownership transactions, they should be handily rejected. This is according to […]
Mortgage rates had been trending downward for much of 2025, but that’s changed in the past week as markets digest the impacts of a global trade war and investors speculate that the Federal Reserve could lose its independence. At HousingWire’s Mortgage Rates Center on Tuesday, 30-year conforming rates averaged 6.98% — up 20 basis points […]
Spring marks the peak season for the U.S. housing market, with more listings hitting the market and warmer weather making it easier for buyers to tour homes and explore their options. Traditionally, this season brings a surge in purchase activity—and in 2025, that trend is especially important for lenders to watch closely against the backdrop […]
Veteran mortgage executive Randell Gillespie has been named president of Kansas City-based mortgage shop LeaderOne. Gillespie joins LeaderOne following a long stint at Thrive Mortgage and Lower, which merged in early 2024. He most recently served as chief production officer at the combined company before his departure in February 2025. “This company was built for […]
Homebuyers paid an average of $4,661 in closing costs on purchase mortgages last year, according to a new report from LodeStar Software Solutions. The company released its first-ever purchase mortgage closing cost report. The findings showed that, on average, closing costs represented 1.06% of home sale prices at the national level. The median percentage came […]
Mortgage technology platform Prudent AI on Monday announced the promotion of Paul Gigliotti to the role of chief growth officer. Gigliotti has more than 20 years of experience in the mortgage lending and fintech realms, and he will oversee the company’s revenue, sales and marketing strategies. “Paul’s exceptional ability to identify strategic opportunities and forge […]
Following several months of leadership shakeups, program cuts and administrative announcements regarding the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, FHFA Director Bill Pulte took to social media platform X on Monday morning to confirm that he does “not forsee” any more executive leadership changes at the government-sponsored enterprises (GSEs). Pulte’s post […]
CrossCountry Mortgage and digital banking platform Blend on Monday announced an expanded partnership to drive innovation for independent mortgage banks (IMBs). The partnership brings together CrossCountry‘s 7,000-plus employees across more than 700 branches and Blend‘s technology platform that powered nearly $1.2 trillion in loan applications in 2024. As part of this collaboration, the two companies […]
When Sarah Middleton joined Supreme Lending as Chief Marketing and Growth Officer, she brought with her not just an impressive track record of leadership — but a 26-point checklist she uses to evaluate every opportunity. In her recent Power House podcast appearance, Sarah revealed how this detailed framework helped her make one of the biggest […]
Reverse mortgages have a minimum age requirement that serves as a key differentiator for the product. But it also leads to questions about how much — or how little — technology tools can or should interact with the business. But things seemed to take a step forward last week when one of the leading lenders […]
Less than two weeks ahead of its first in-person meeting of the year, the premiere trade association for the reverse mortgage industry has announced preliminary details for both its upcoming regional meeting and its annual meeting and expo slated for later this year. The National Reverse Mortgage Lenders Association (NRMLA) announced in a member update […]
Mortgage lenders shouldn’t interpret the downsizing of the Consumer Financial Protection Bureau (CFPB) as a green light to ease compliance, despite potential mass layoffs and a shift in priorities, industry experts told HousingWire. As part of the Trump administration’s latest moves, more than 1,400 employees, out of 1,700 total, were told they were laid off […]
Nearly half of real estate transactions reviewed in the first quarter of 2025 showed signs of potential wire and title fraud, according to a report from FundingShield. The company analyzed a portfolio of residential, commercial and business-purpose loans totaling approximately $80 billion. It found that 46.8% of these transactions contained issues that could lead to […]
The Mortgage Bankers Association‘s (MBA) Builder Application Survey (BAS) data for March 2025 revealed that mortgage applications for new home purchases increased 5.5% compared to a year ago. Compared to last month, applications increased by 14%. By product type, conventional loans composed 49.0% of loan applications, FHA loans composed 37.0%, RHS/USDA loans composed 0.9% and […]
More than 1,400 Consumer Financial Protection Bureau (CFPB) workers were terminated from their positions on Thursday, sources told WIRED. There were around 1,700 employees in total at the CFPB. Fox Business reports that around 1,500 workers will receive RIF notices across core functions, based on an unnamed source. This move is the latest in the Trump […]
You’ve likely heard it often enough, but just in case you haven’t, older Americans generally prefer to age in place in their own homes by a wide margin. But for those who may be struggling to find support from their caregivers or family members to accomplish this goal, they may instead opt for a congregate […]
Background check provider Checkr is acquiring income and employment verification startup Truework, Truework’s CEO Ryan Sandler confirmed via LinkedIn on Thursday. “Over the past 8 years we have grown an incredible team to over 100 employees, raised 5 funding rounds, called 6 different offices home, operated across 3 cities, had 2 name changes – and […]
Following speculation about whether it would actively seek a new home base, an announcement made Thursday by the U.S. Department of Housing and Urban Development (HUD) has made it official. HUD is coordinating with the General Services Administration (GSA) to add the current HUD headquarters “to the accelerated disposition list in order to engage the […]
United Wholesale Mortgage (UWM) CEO Mat Ishbia said on the company’s fourth-quarter 2024 earnings call that President Donald Trump would be a huge boost to the mortgage industry. While that may turn out to be true over the long term, Trump’s trade war hasn’t done shareholders any favors in the near term. Since Trump unveiled […]
On Thursday, the Mortgage Bankers Association (MBA) and other housing groups signed a joint letter in support of the bicameral and bipartisan trigger lead bills known as the Homebuyers Privacy Protection Act, or H.R. 2808 and S. 1467. If enacted, the legislation would curb the use of mortgage credit trigger leads in all but a […]
Bill Ackman, the billionaire founder of Pershing Square Capital Management, has an audacious plan to privatize Fannie Mae and Freddie Mac without congressional approval. The proposal involves the federal government forgiving hundreds of billions of dollars while also reducing capital requirements. As a result, Ackman claims the plan would boost the stock prices of both […]
Housing industry pros are largely supportive of the raft of changes the Federal Housing Administration made related to the COVID-19 era loss mitigation waterfall. “The issue is less what they rescinded as it is what they instituted,” said David Dworkin, president and CEO of the National Housing Conference (NHC) in an interview. “What they’ve instituted […]
The reverse mortgage education ecosystem has long struggled to push back against the tide of what the industry views as bad information about its products and business model. Nonprofit counseling agency Credit.org is aiming to offer more prospective reverse mortgage borrowers a source of information. It has created a new e-learning course that aims to […]
Home equity levels among U.S. homeowners is at record levels, having hit $35 trillion, according to Federal Reserve data. But with this added wealth on paper, those holding it aren’t necessarily feeling more financially secure. This is due to the upward march of property taxes, persistently high interest rates and other restrictions some families may […]
Equity Smart Home Loans made a splash Wednesday by announcing it is severing ties with United Wholesale Mortgage (UWM) and partnering with Rocket Pro. In an interview with HousingWire, longtime CEO Pablo Martinez said that the contract termination occurred last week. “It just comes down to pricing. It’s like when you go to Costco, you […]
The government-owned company responsible for a large portion of secondary mortgage market activity has appointed a new senior leader. Ginnie Mae has appointed Joseph Gormley to serve as its new executive vice president and chief operating officer. He will oversee the company’s overarching mission to support stability across U.S. housing markets, the company said on […]
American Financial Resources (AFR) on Wednesday announced the promotions of Robert Pieklo to CEO and Michael Brenning to chief operating officer. The leadership changes follow the company’s record-breaking first quarter in which AFR said it quadrupled its Q1 2024 loan origination volume, including a nearly 700% increase in production in the wholesale channel alone. Per […]
Federal Housing Finance Agency (FHFA) Director Bill Pulte announced via social media platform X that the agency is establishing a tip line for reporting mortgage fraud activity. Pulte announced the intent to create a tip line on Monday via his personal X account. A day later, he shared an email address, fraudtips@fhfa.gov, where mortgage fraud […]
Rocket Companies made a major move this week by integrating Rocket Pro TPO with ARIVE, a leading software platform used by mortgage brokers. The integration, announced on Wednesday, connects Rocket to a network of approximately 28,000 active users, including 21,000 loan officers who source mortgage offers from multiple wholesale lenders — including Rocket’s chief rival, […]
Mortgage demand decreased 8.5% for the week ending April 11, according to the Mortgage Bankers Association (MBA)’s weekly applications survey — a stark contrast to the 20% increase seen a week earlier. Last week’s application news was dominated by the quick buzz that resulted from lower rate movement. But this week’s data revealed that the […]
Bank of America (BofA) and Citi reported declining mortgage production in the first quarter of 2025 compared to the previous quarter, following similar results from peers Wells Fargo and JPMorgan Chase last week. Mortgage volumes at BofA and Citi, which were attributed to seasonal trends and rising interest rates, are expected to remain challenged in […]