Arles, France — One of the world’s most renowned photo festivals, in the French town of Arles, returned this week with a timely ode to diversity at a moment when France is turning towards the far right. The Rencontres festival, which runs until Sept. 29, is spread across 27 venues in the ancient cobbled streets of […]
NEW YORK — In the winter of 1789, around the time George Washington was elected the country’s first president, a Boston-based printer quietly launched another American institution. William Hill Brown’s The Power of Sympathy, published anonymously by Isaiah Thomas & Company, is widely cited as something momentous: the first American novel. Around 100 pages long, Brown’s […]
NEW YORK — Robert Towne, the Oscar-winning screenplay writer of “Shampoo,” “The Last Detail” and other acclaimed films whose work on “Chinatown” became a model of the art form and helped define the jaded allure of his native Los Angeles, has died. He was 89. Towne died Monday surrounded by family at his home in Los […]
Editor in Chief Sarah Wheeler sat down with Consumer Financial Protection Bureau Director Rohit Chopra for a podcast this week and the talk turned to technology and tech companies. This interview has been edited for length and clarity. Listen to the whole episode here. Sarah Wheeler: Let’s talk about technology’s role in making these things […]
After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,105, while HECM case numbers for May dropped 7.9% to 3,214. This is according to data compiled by Reverse Market Insight […]
The Consumer Financial Protection Bureau (CFPB) last month issued an enforcement order against former Home Equity Conversion Mortgage (HECM) servicing contractor NOVAD Management Consulting and subcontractor Sutherland Global for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” An attorney said the decision could have broad […]
Patrice Ficklin, who has served at the Consumer Financial Protection Bureau (CFPB) since the agency’s founding in 2011, will depart for Fannie Mae to serve as the government-sponsored enterprise’s fair lending officer. The news was first reported by American Banker. Ficklin has been a mainstay at the CFPB, overseeing the launch of the bureau’s fair […]
A new report by IDIQ®, a financial intelligence company, details top consumer credit concerns provided by mortgage, real estate, and lending professionals as well as borrowers themselves. The research included surveys of more than 100 mortgage and real estate professionals, more than 200 prospective borrowers, and a study of proprietary data of more than 20,000 […]
Chicago-based Guaranteed Rate, one of the country’s largest mortgage lenders, has rebranded to Rate. The company made the announcement Monday on social media. “Today, we’re rebranding as Rate,” the company posted on LinkedIn. “Just like our streamlined name, we’re committed to making the mortgage process smoother, faster and smarter, using AI to empower both customers […]
97% of consumers search for local businesses online, and 78% of marketers report that digital marketing significantly increases business revenue. If you’re not leveraging digital marketing in today’s mortgage landscape, you’re missing out on a significant opportunity. In our fast-paced, technology-driven world, digital marketing has become an essential competitive advantage for mortgage loan officers (MLOs) […]
HousingWire is excited to announce the winners of the 2024 Women of Influence award, recognizing 100 women who are shaping and propelling the housing economy forward with their impressive achievements. This year marks the 15th year of this award program. Many of this year’s winners mentor women in the industry, paving the way for a […]
Texas Capital Bank (TCB) is seeking a new partial summary judgment in its suit against Ginnie Mae. The suit alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program. […]
In light of market fluctuations and regulatory changes, mortgage lenders face significant challenges in today’s market. Even at the highest demand levels in 2024, purchase mortgage applications were nearly 45% lower compared to the same weeks in 2018 and 2019, exacerbated by record-high origination costs. Freddie Mac’s recent study reveals the average cost to originate […]
Panama’s pollera is the country’s beautiful, elaborate and very expensive national dress, and one of the most recognized Latin American traditional costumes. But production of the gorgeous garment faces an uncertain future. Oscar Sulbarán explains why in this story narrated by Veronica Villafañe. (Camera: Oscar Sulbarán; Produced by: Veronica Villafañe) details ⇒ BusinessMediaguide.Com portal received […]
Washington, D.C., home to the world’s largest collection of William Shakespeare’s works, has unveiled a treasure trove that most have never seen. The Folger Shakespeare Library reopened its doors after a four-year long renovation, revealing the most valuable part of its collection to the public for the first time. Maxim Adams visited the library. details […]
New York — The monthlong celebration of LGBTQ+ Pride reached its exuberant grand finale on Sunday, bringing rainbow-laden revelers to the streets for marquee parades in New York, Chicago, San Francisco and elsewhere across the globe. The wide-ranging festivities functioned as both jubilant parties and political protests, as participants recognize the community’s gains while also calling […]
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TOKYO — The Paris Olympics open next month and the agency that oversees doping enforcement is under scrutiny following allegations it failed to pursue positive tests of Chinese swimmers who subsequently won medals — including three gold — at the Tokyo Games in 2021. The focus on the World Anti-Doping Agency and China’s swimmers raises questions […]
NEW YORK — The monthlong celebration of LGBTQ+ Pride reaches its exuberant grand finale on Sunday, bringing rainbow-laden revelers to the streets for marquee parades in New York, Chicago, San Francisco and elsewhere across the globe. The wide-ranging festivities will function as both jubilant parties and political protests, as participants recognize the community’s gains while also […]
SAN FRANCISCO — In an increasingly divisive political sphere, Becka Robbins focuses on what she knows best — books. Operating out of a tiny room in Fabulosa Books in San Francisco’s Castro District, one of the oldest gay neighborhoods in the United States, Robbins uses donations from customers to ship boxes of books across the country […]
taipei, taiwan — Taiwanese singer and activist Panai called Saturday — at one of the most prestigious entertainment events in the Chinese-speaking world — for people not to forget China’s bloody 1989 crackdown on pro-democracy protesters at Tiananmen Square. Chinese artists in recent years have largely stayed away from Taiwan’s Golden Melody Awards given renewed tension […]
NEW YORK — It’s not just a book. Back in the 1450s, when the Bible became the first major work printed in Europe with moveable metal type, Johannes Gutenberg was a man with a plan. The German inventor decided to make the most of his new technology — the movable-type printing press — by producing an […]
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After initially announcing the development of a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program in January, government-owned company Ginnie Mae — which oversees the government’s mortgage-backed securities (MBS) portfolio — released a highly anticipated term sheet this week for what is being referred to as “HMBS 2.0.” To get a better understanding of […]
Homeowners 62 and older saw their collective home equity levels rise in the first quarter of 2024 by roughly $328.5 billion to a total of $13.19 trillion, a recovery after decreases observed over the past year. This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity maintained by the […]
Paul Giangrande “Paul brings a distinguished reputation in the mortgage industry with an uncanny sense of distribution. We are honored to have him lead our expanding mortgage financing efforts,” David Shapiro, EquiFi’s CEO and founder, said in a statement. “His impressive industry acumen and established mortgage credentials add significant strength and valuable perspective to our […]
Today, U.S. Secretary of Education Miguel Cardona issued the following statement ahead of the one-year anniversary of the Supreme Court’s ruling on college affirmative action programs: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
HousingWire CEO Clayton Collins sat down with Rick Roque, executive vice president of retail growth and strategy at Sierra Pacific Mortgage and Andrew Maas, co-founder and CEO of Pointable, to talk about AI on his PowerHouse podcast. Roque and Maas will be speaking at HousingWire’s AI Summit on July 23. This conversation has been edited […]
PROVIDENCE, Guyana — India thumped defending champion England by 68 runs to reach the final of the Twenty20 World Cup on Thursday. India will face South Africa on Saturday at Kensington Oval in Bridgetown, Barbados in a battle of the two unbeaten teams of the tournament. Captain Rohit Sharma’s (57) second half-century helped India compile 171-7 […]
During Thursday night’s historic presidential debate broadcast by CNN, housing issues only came up briefly, and only from one candidate. The debate was the first in decades not to be sponsored by the bipartisan Commission on Presidential Debates, the first presidential debate with a commercial break and the first television debate between a current and […]
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Dominion Financial Services, a Baltimore-based private lender with products tailored to real estate investors, has launched a third-party origination program for mortgage brokers, according to an announcement on Thursday. “This marks a significant milestone in the company’s commitment to expanding its reach and fostering partnerships within the real estate investment industry,“ the company said in […]
Ginnie Mae on Thursday released a new term sheet for its proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) offering, which is an additional program that the company and reverse mortgage industry alike have referred to as “HMBS 2.0.” Last month at a National Reverse Mortgage Lenders Association (NRMLA) event, Ginnie Mae acting president Sam […]
Cambodian rapper VannDa was featured at a California festival of Asian music and culture called Sabaidee Fest. VOA’s Malis Tum and Chetra Chap report on this young rapper who’s shining a spotlight on Cambodian music, culture and history. Chetra Chap narrates. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Mortgage data provider Optimal Blue this week announced the launch of Competitive Data License, a product that is designed to help lenders price loans accurately and drive profitability. In its announcement, the Texas-based company described the product as “a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more […]
Chart courtesy of The Kaplan Group Rounding out the states where residents have the most mortgage debt are Mortgage debt has ballooned by 80% over the past 20 years, resulting in an unprecedented level of household debt among Americans. That’s according to a new study from debt collection agency The Kaplan Group that examines debt […]
Digital multichannel lender Lower has hired industry veteran Craig Montgomery, previously the chief production officer at CrossCountry Mortgage (CCM), as its chief strategy officer. Montgomery “will oversee retail strategy and expand the company’s tech-driven platform, which provides origination teams the resources they need to achieve their goals,” the company said in a statement. Montgomery spent […]
TAROUBA, Trinidad — A long, tortuous World Cup title drought is closer than ever to ending for South Africa after a nine-wicket win over first-time semifinalist Afghanistan at the global Twenty20 cricket tournament on Wednesday. Marco Jansen and Kagiso Rabada set the foundations for the lopsided victory with destructive opening bursts of pace bowling to have […]
Heather Lovier replaced Bill Emerson as chief operating officer of Rocket Companies following the appointment of the board of directors on June 20. Emerson will remain as Rocket’s president. An industry veteran, Lovier joined Rocket Mortgage, the company’s lending arm, in 2003. She has focused the past two decades on driving operational excellence and enhancing […]
Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. This is according to an announcement and an 8-K filing with the Securities and Exchange Commission (SEC) that was reviewed by HousingWire’s Reverse […]
Chart courtesy of BadCredit.org “The findings are a sobering reminder of the financial hurdles that low-income earners face in achieving the American Dream of homeownership,” Jon McDonald, senior editor at BadCredit.org, said in a news release. “While we’re seeing increases in minimum wage, such as the recent rise for The upfront cost of homeownership can be […]
The Housing Policy Council (HPC) announced on Wednesday that it has appointed Michael Drayne as its new senior vice president of capital markets, effective July 1. Drayne has three decades of capital markets experience. He served from 2011 to 2023 in various roles at government-owned company Ginnie Mae, where he helped to manage different elements […]
Craig Stammler In a statement, Stammler said that NAF’s “excellent culture and leadership,“ supported by top executives Craig Stammler has joined New American Funding (NAF) as a regional vice president, the California-based mortgage lender announced Tuesday. Stammler, who previously worked for loanDepot, Wells Fargo and Countrywide, will be responsible for overseeing the company’s southern Idaho […]
Customer engagement platform Total Expert is launching a marketplace this week for financial institutions to build their marketing technology stack. Partners will plug into the Total Expert platform to offer solutions such as chats and texts supported by artificial intelligence (AI), targeted mail campaigns, and management of their online reputation. Customers, including banks, lenders and […]
Joseph Peterson “We are excited to have Joe join our leadership team,“ Xactus President Xactus, a Pennsylvania-based mortgage technology firm that specializes in borrower verifications, announced Tuesday that it has hired Joseph Peterson as chief financial officer. Peterson will be responsible for the company’s overall financial operations. He will manage the strategic direction of the […]