General World News

Building resilience: Acra Lending’s blueprint for Non-QM lending success

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The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. In this executive conversation, we delve into how Acra Lending is enhancing its operations […]

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British-born guitarist revels in Ghanian sounds

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John Collins visited Ghana as a child with his father. But life brought him back years later, and the musician never left. VOA’s Isaac Kaledzi met him in Accra and Anthony Labruto narrates. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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The Career Journey: Who Do You Want to Be?

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I love talking to people about their career journeys. While each person’s story is unique, I often find that there’s a pattern in the way they tell them. They usually start with a childhood dream job that first inspired them, followed by their educational history, eventually leading them to their field of study.   Many people […]

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Powell: ‘The best thing we can do for housing is to succeed in getting inflation down to 2%’

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As expected, Federal Reserve Chairman Jerome Powell did not set a timeline for lowering interest rates during his semiannual monetary policy report to Congress on Tuesday morning when participants complained about the effects of a tightening monetary policy in the housing market.  Powell indicated that Fed officials are not there yet, but suggested a better […]

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Hallelujah! HUD finally updates, expands 203(k) program

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The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced that it has published updated policies for its 203(k) Rehabilitation Mortgage Insurance Program, in an effort to “modernize the program and enhance its usefulness for individuals and families seeking affordable financing for renovating or rehabilitating a single-family home when purchasing or refinancing it.” […]

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FHLBank Chicago adopts VantageScore 4.0 model

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The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data. “[M]ember financial institutions can now pledge mortgage collateral using VantageScore credit scores as an […]

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Eugenio Derbez’s ‘Acapulco’ brings feel-good nostalgia to global audiences

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Popular Mexican actor Eugenio Derbez has successfully transitioned to Hollywood. His bilingual comedy “Acapulco” on Apple TV is critically acclaimed and has put his work in front of new audiences. The show’s star and producer spoke with Veronica Villafañe about his mission to create an authentic, family-friendly series that positively represents his home country. details […]

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Paramount, Skydance merge, ending Redstone family reign

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NEW YORK — The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.  It also signals the rise of a new power player, David Ellison, the founder of […]

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NRMLA president talks HMBS 2.0 term sheet and its potential impact

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At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. After the industry’s secondary market was rocked by […]

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CHLA calls on CFPB to take action against trigger lead calls

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The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to more forcefully go after trigger lead solicitations. To cement the point, CHLA is calling such solicitations “junk calls,” echoing the language of the campaign the Bureau has waged against “junk […]

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Newrez imposes another round of layoffs

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Top-five mortgage lender Newrez, owned by asset manager Rithm Capital, has imposed another round of layoffs affecting 265 employees in Colorado and Arizona, per documents sent to state authorities. That’s the third round this year, following the acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS ) for $720 million in October […]

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Banc of California selling $2B in DSCR loans

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Roughly eight months after acquiring PacWest Bancorp in a rescue deal, Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. PacWest had already sold the servicing on the debt service coverage ratio (DSCR) loans, which were originated by its subsidiary Civic Financial Services, before Pacwest was acquired by […]

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U.S. Department of Education’s Office for Civil Rights Announces Resolution of Complaint Against Brown University Alleging Antisemitic Discrimination

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The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that Brown University in Rhode Island has entered into a resolution agreement to ensure compliance with Title VI of the Civil Rights Act of 1964 with respect to alleged harassment of students based on national origin (including shared Jewish, Palestinian, Arab, and/or Muslim […]

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Vishal Garg ruled to pay $5.5M in a decade-long lawsuit

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A New York jury found Vishal Garg, CEO and founder of digital mortgage lender Better.com, liable for breach of fiduciary duty and conversion in a decade-long lawsuit filed by his former partner, Raza Khan. Garg intends to appeal.  The court ordered Garg to pay $5.5 million to Educational Investment & Finance Corporation (EIFC), the company […]

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Experts share tips for beginning to age in place

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As those in or near retirement continue to proclaim a preference for aging in place, there may be challenges for people who aren’t sure about how or when they should get started on making plans. A series of home healthcare, renovation and senior care experts offer tips on ways to begin in a column published […]

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Mortgage rate lock volume fell in June: MCT

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Fewer prospective mortgage borrowers pulled the trigger in June, according to a new report from Mortgage Capital Trading. Mortgage rate locks decreased 7.84% in June compared to the previous month. This drop follows a brief uptick in volume at the beginning of the traditional buying season, suggesting a continuing stalemate between limited housing supply and […]

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Trafficked Cambodian artifacts returned from US

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Phnom Penh — Buddhist monks in the Cambodian capital Phnom Penh chanted blessings and threw flowers on Thursday to welcome 14 trafficked artifacts repatriated from the Metropolitan Museum of Art in New York. The Angkorian artworks, which included a 10th century goddess sandstone statute and a large Buddha head from the 7th century, were stolen by […]

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In face of Russian attacks, Ukraine defends its monuments — and its identity

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As Ukraine’s war against Russia’s invasion drags on, Ukrainians are fighting to preserve their history. They say Russia is deliberately attacking cultural monuments in a bid to erase the country’s history and identity as a separate nation. For VOA, Anna Chernikova reports from Kyiv. VOA footage by Eugene Shynkar, Vladyslav Smilianets. details ⇒ BusinessMediaguide.Com portal […]

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HUD translates 19 mortgage documents into five languages to broaden accessibility

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The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing. The new translations — which are available in Chinese, Korean, Spanish, Tagalog and Vietnamese — are accessible from FHA’s language access webpage […]

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NYSE moves to delist FOA warrants from the exchange

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The New York Stock Exchange (NYSE) on Wednesday announced that the warrants of Finance of America, traded under the ticker symbol “FOA.WS,” will be delisted from the exchange due to being out of compliance with the exchange’s continued listing standard. The class A common shares traded under the “FOA” ticker symbol, however, will continue to […]

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Mortgage applications dropped as rates moved higher last week: MBA

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Mortgage applications declined by 2.6% on a seasonally adjusted basis during the week ending June 28, according to data released Wednesday by the Mortgage Bankers Association (MBA). The trade group cited upward movement in mortgage rates as the key reason why. According to HousingWire’s Mortgage Rates Center, the average rate for 30-year conventional loans was […]

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Anthropomorphism and AI: Dialing back the fear knob

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As humans, we love projecting our emotions on non-human things like animals, objects and weather events. I’m told the psychological term for this is anthropomorphism, which is difficult to say three times super fast. We especially seem to label human-like characteristics for things that we can’t fully understand or have no means of explaining – […]