General World News

Homeowners have a collective $700B in ‘trapped’ equity

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More than $700 billion in home equity is effectively “trapped” and inaccessible to homeowners due to a variety of economic circumstances, including employment shocks and shifts in the market that negatively impact their credit scores. This information comes from an economic analysis published last week by alternative home equity investment company Point. The “trapping” stems […]

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Blend, Alloy expand fraud prevention partnership

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Digital banking solutions company Blend Labs Inc. on Tuesday announced an expanded partnership with Alloy, an identity and fraud prevention platform provider. As part of the new agreement, Blend customers can now incorporate Alloy’s identity and fraud prevention capabilities into their consumer banking solutions, with the ultimate goal to build a safer digital banking experience. […]

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What will happen to mortgage rates as the trade war heats up?

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The U.S. economy continues to navigate turbulence that is closely tied to President Donald Trump’s newly enacted trade policies. The mortgage market has not been immune to the volatility as interest rates remain top of mind for originators and consumers alike. HousingWire’s Mortgage Rates Center shows that 30-year conforming rates averaged 6.78% on Tuesday, up […]

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Farewell, COVID-19 loss mitigation waterfall

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Illustration of HUD Secretary Scott Turner ending loss mitigation programs. Created with ChatGPTO 4o. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=1024″ src=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=1024″ alt=”Illustration of HUD Secretary Scott Turner ending loss mitigation programs.” class=”wp-image-515820″ srcset=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=150,100 150w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=300,200 300w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=768,512 768w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=1024,683 1024w” sizes=”(max-width: 1200px) 100vw, 1200px”>Illustration of HUD Secretary Scott Turner ending loss mitigation programs. Created with ChatGPTO […]

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AI mortgage platform Friday Harbor completes seed round

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AI-powered platform Friday Harbor today announced the completion of a $6 million seed round. The round was led by Abstract Ventures, a San Francisco-based venture firm with $1.5 billion in assets under management. Other participants in the round were Wischoff Ventures, a venture capital firm founded by Blend alum Nichole Wischoff, and the AI2 Incubator, […]

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Better to retire $530M in debt through deal with SoftBank arm

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Better Home & Finance Holding Co. — the parent of digital mortgage lender Better.com — has restructured about $534 million of its outstanding debt with SB Northstar, the asset management subsidiary of SoftBank, the company announced on Monday.  Better is retiring $530 million of outstanding debt accruing interest at 1% annually and due in 2028. […]

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Business executive Omeed Malik joins Fannie Mae’s board

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Federal Housing Finance Agency (FHFA) Director Bill Pulte took to social media platform X on Monday to announce that, effective immediately, Omeed Malik is joining Fannie Mae‘s board. “Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!” Pulte wrote. This is not Malik’s first involvement with the […]

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CFPB freezes nonbank registry rule after industry pushback

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The Consumer Financial Protection Bureau (CFPB) announced on Friday that it’s rescinding a rule from the previous administration that requires nonbank financial services providers to register certain enforcement actions and court orders with a new federal database. The regulation was the target of criticism from the mortgage industry.  In practice, the CFPB said it will […]

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Big banks feel the mortgage squeeze in Q1, hope for deregulation

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While mortgage production remained under pressure at top banks in the first quarter of 2025—aligning with market expectations—uncertainty looms over what the future may hold. Bank executives anticipate negative impacts from the ongoing trade war sparked by President Trump’s increase in tariffs. However, they remain hopeful that a potential deregulatory agenda from the current administration […]

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ICE Customer Acquisition

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ICE Customer Acquisition ICE Customer Acquisition is a powerful, integrated solution built for lenders using the Encompass LOS. Highlights: Boost lead generation by up to 28% Accelerate pipeline growth with smarter, automated engagement tools Mobile apps for lenders and borrowers Stay connected and informed with intuitive, on-the-go solutions Automated, timely borrower communication Stronger relationships without […]

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The trigger leads bill is back!

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The trigger leads bill, which failed to pass the House of Representatives in late December 2024 despite Senate approval, was re-introduced to the 119th Congress Thursday morning. Simultaneously, a slew of mortgage brokers associated with the Brokers Action Coalition (BAC) sealed the end of BAC’s three-day Advocacy In Action conference by heading to Capitol Hill […]

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Analysis: The tariff impact on homeowners insurance

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Rising tariffs and shifting global trade policies are adding strain to insurance markets, particularly in homeowners insurance and auto coverage, according to a recent analysis by the American Agents Alliance. Higher costs for imported materials such as automotive parts and construction supplies are pushing up claims expenses, which in turn may raise premiums for both […]

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MBA urges congressional action on VA foreclosures

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With the impending end of a veteran-focused foreclosure assistance program’s acceptance of new applications on May 1, the Mortgage Bankers Association (MBA) continues to sound the alarm over proceeding without something to replace it. On Wednesday, the House of Representatives Committee on Veterans’ Affairs Subcommittee on Economic Opportunity has scheduled a markup of several veteran-focused […]

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Mortgage applications rebounded 20% last week as rates dipped

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Mortgage applications jumped 20.0% from the prior week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications Survey for the week ending April 4, 2025. On an unadjusted basis, the index increased 20% compared with the previous week. The refinance index increased 35% from the previous week as mortgage rates took a […]

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Fairway announces ‘hybrid e-closings’ for reverse mortgages

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Despite long maintaining a reputation as being behind the times of technology development — whether that is due to a perception of being slow-to-adopt emerging technologies, or due to regulatory compliance concerns — one top 10 reverse mortgage lender has now rolled out hybrid e-closing processes for its Home Equity Conversion Mortgage (HECM) business. Fairway […]

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Bipartisan duo begin public listening process for reauthorizing HOME, CDBG programs

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A bipartisan duo of members in the House of Representatives who largely operate with very different political positions have come together to begin what they’re calling an “initiative to gather public input” on the potential reauthorization of two federal housing programs. Reps. Mike Flood (R-Neb.) and Emmanuel Cleaver (D-Mo.), the chairman and ranking members, respectively […]

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FHA further extends foreclosure, eviction moratorium for Helene and Milton victims

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As communities impacted by the devastation of Hurricanes Helene and Milton continue to pick up the pieces, the Federal Housing Administration (FHA) on Tuesday announced that it has further extended a moratorium on foreclosures and evictions for any FHA-financed single-family mortgages inside the designated Presidentially-Declared Major Disaster Areas (PDMDAs) associated with those disasters. Set to […]

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Empower Mortgage names Goertzen chief growth officer

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Empower Mortgage, part of the Equity Prime Mortgage family of brands, has appointed Rogelio Goertzen as its chief growth officer. He will drive the wholesale lender’s strategic expansion, fostering greater financial inclusion for Hispanic, Latino and other underserved communities. Goertzen, the founder of Hispanic Organization of Mortgage Experts (HOME), said in a statement that for […]

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Reverse mortgage endorsements fell as HMBS issuance rose in March

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Reverse mortgage industry performance metrics have continued their soft trend into the third month of the year, though activity in the secondary market was slightly higher than the month prior. Home Equity Conversion Mortgage (HECM) endorsements fell in March based on rate increases observed in the late period of 2024, while HECM-backed securities (HMBS) issuance […]

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HUD doubles down: No FHA financing for ‘unqualified aliens’

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In a letter to agency stakeholders and grantees last Friday, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner effectively doubled down on a recently-announced policy aiming to restrict Federal Housing Administration (FHA) financing to U.S. citizens and permanent residents. On Feb. 19, President Donald Trump issued an executive order aiming to “prevent […]

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NAMB introduces Hive, an online community for mortgage pros

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The National Association of Mortgage Brokers (NAMB) today announced the official launch of Hive, an online community platform designed to foster nationwide collaboration, knowledge sharing and professional development for mortgage professionals. Hive, which is led by NAMB’s Growth Officer Jason Frazier, is open to join starting today by accessing an online forum. Frasier, who has […]

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Lower mortgage rates are spurring housing demand

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Mortgage rates recently hit a year-to-date low, coinciding with ongoing market disruptions from tariffs. The more encouraging story, however, is that the spring season is shaping up positively for the housing market. Notably, purchase applications show growth both year-to-date and year-over-year. Additionally, our weekly pending contract data and new listings are trending positively compared to […]

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Mortgage software firm RETR hires two executive leaders

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Anthony Savala Savala has spent more than 15 years in the mortgage technology sector. He served for the past two years as vice president of sales at TRUE. Before that, he worked in business development leadership roles at Reston, Virginia-based mortgage software company RETR announced this week that it has hired two new senior leaders […]

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Longbridge has a new addition to its proprietary reverse mortgage suite

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Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. The Platinum Peak product suite aims to offer higher available loan-to-value (LTV) ratios, which are designed to translate into higher loan proceeds for borrowers, according to the announcement. The Peak […]

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The lean, mean (illegal?) 1099 LO machine

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An illustration of a mortgage executive losing a top-producing LO who wishes to become a 1099 LO. Illustration made with ChatGPT ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?w=1024″ src=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?w=1024″ alt=”An illustration of a mortgage executive losing a top-producing LO who wishes to become a 1099 LO.” class=”wp-image-514314″ srcset=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?resize=150,100 150w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?resize=300,200 300w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?resize=768,512 768w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-2.jpg?resize=1024,683 1024w” sizes=”(max-width: 1200px) […]

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Retiree moving activity was down nearly 25% in 2024

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Older Americans are apparently choosing to stay put in greater numbers despite the fewer restrictions on their time granted by retirement. Between 2023 and 2024, moving activity among retirees dropped by nearly one-quarter (23.8%), according to data from the U.S. Census Bureau that was compiled by moving services company HireAHelper. Based on the data, 258,000 […]

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VA plans end to VASP foreclosure assistance program, MBA comes to its defense

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The U.S. Department of Veterans Affairs (VA), under the leadership of director Doug Collins, is reportedly moving to end the Veteran Affairs Servicing Purchase (VASP) program, which attempts to prevent foreclosure actions against military members who may be experiencing financial hardship due to the consequences of the COVID-19 pandemic. According to reporting from multiple outlets, including […]

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March job growth comes in stronger than expected

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Much to the surprise of economic analysts, the U.S. economy added 228,000 nonfarm payroll jobs in March, according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). “Despite growing concerns about economic uncertainty, job growth was robust across many sectors last month,” Lisa Sturtevant, the chief economist at Bright MLS, said in […]