Indio, USA — Coachella day two was heavy on alt-rock throwbacks including a highly anticipated No Doubt reunion, but it was Taylor Swift — who wasn’t on the lineup and didn’t perform — creating buzz on Saturday. Her mere presence at the mammoth festival in the California desert set the internet alight, after she made a much-speculated […]
LONDON — Instagram says it’s deploying new tools to protect young people and combat sexual extortion, including a feature that will automatically blur nudity in direct messages. The social media platform said in a blog post Thursday that it’s testing out the features as part of its campaign to fight sexual scams and other forms of […]
Mortgage rates headed higher last week after the CPI inflation report, but now, with news of a wider war in the Middle East, should we expect even higher rates? Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher […]
SALT LAKE CITY — The International Olympic Committee was effusive Wednesday in its support for a decadeslong effort to bring back the Winter Games to Utah’s capital city in 2034. Unlike so many other past hosts that have decided bringing back the Games isn’t worth the time, money or hassle, Salt Lake City remains one of […]
new york — Robert MacNeil, who created the even-handed, no-frills PBS newscast “The MacNeil-Lehrer NewsHour” in the 1970s and co-anchored the show with his late partner, Jim Lehrer, for two decades, died on Friday. He was 93. MacNeil died of natural causes at New York-Presbyterian Hospital, according to his daughter, Alison MacNeil. MacNeil first gained prominence […]
Job recruiters in the South are facing hurdles to attract skilled professionals from the Midwest despite offering competitive compensation packages, according to a Bloomberg report published Friday. That’s because many of these potential hires are locked into super-low 30-year mortgages. During the fourth quarter of 2023, the proportion of job seekers in the U.S. who […]
Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. While higher rates are bad news for the mortgage industry in a broad sense, the impact on reverse lending is more nuanced, Bruce […]
As artificial intelligence continues to grow in prominence, mortgage professionals “must carefully evaluate and manage” their use of AI and “focus on deriving the benefits while avoiding potentially catastrophic risks.” That’s one of the key conclusions reached by the BlackFin Group in a recently published white paper, “Artificial Intelligence (AI) in Mortgage Banking.” The paper […]
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders are open until April 30, 2024. Click here to nominate someone from your organization today. If there’s one word to describe today’s successful marketers in mortgage and real estate it’s […]
The real estate market is experiencing a slight rise in foreclosure activity following an extended period of moratoria that paused any foreclosures during the pandemic. The uptick in foreclosures could signal homeowner distress due to recent difficult economic circumstances but also account for foreclosures that were in the pipeline prior to the pandemic. However, the […]
Sometimes it’s the little ideas that can make the biggest difference. And that definitely goes for delivery pizza. From Buenos Aires, Gonzalo Bañez Villar has the story of a little idea that had a big impact, in this report narrated by Veronica Villafañe. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
Osaka, Japan — One of the largest wooden structures ever built is taking shape in Osaka but hopes that Expo 2025 will unite the world are being dogged by cost blowouts and a lack of public enthusiasm. The imposing circular centerpiece will be crowned by a 20-meter-high sloping canopy, designed by top architect Sou Fujimoto, known […]
California-based multichannel mortgage lender CMG Financial announced on Thursday that it acquired Norcom Mortgage’s retail assets, expanding its operations in the Northeast with the addition of 25 branches from Maryland to Maine. The financial details of the deal were not disclosed. “Norcom Mortgage has made the strategic decision to focus on and continue to grow our wholesale platform […]
Property preservation company MCS announced last month that it had entered the reverse mortgage business after acquiring Five Brothers Asset Management Solutions. In part one of RMD’s interview with MCS CEO Craig Torrance, he explained his company’s interest in the reverse space. In the second part of the interview, Torrance goes deeper into the value […]
Experts from the University of Texas at Austin and the University of Georgia are weighing in on recent federal attention that senior caregivers have received after President Joe Biden highlighted these issues in his State of the Union address last month. The experts say that adequately serving seniors who prefer to age in place will […]
The Biden-Harris Administration announced today the approval of $7.4 billion in additional student loan debt relief for 277,000 borrowers. These discharges are for borrowers who signed up for President Biden’s Saving on a Valuable Education (SAVE) Plan and are eligible for its shortened time-to-forgiveness benefit and as a result of fixes made by the Administration […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that the Hinds Community College in Mississippi entered into a resolution agreement to address a student’s pregnancy discrimination complaint. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Jamie Dimon evidently believes in the KISS principle when it comes to mortgage — keep it simple, stupid. In his annual letter to shareholders, the influential head of JPMorgan Chase wrote that “we can fix the housing and mortgage” markets. “For example, mortgage regulations around origination, servicing and securitization could be simplified, without increasing risk, in […]
Today, the U.S. Department of Education’s Office for Civil Rights (OCR) announced that the Denton Independent School District in Texas has entered into a resolution agreement to ensure that its restraint policies and practices do not deny students with disabilities a free appropriate public education (FAPE). details ⇒ BusinessMediaguide.Com portal received this content from this […]
Rocket Mortgage Chief Information Officer Brian Woodring is departing the company to pursue other opportunities, multiple sources told HousingWire. The decision comes as the lender shifts its business strategy to embrace artificial intelligence (AI). Woodring joined Rocket in 2017 as chief technology officer to lead the product engineering team. As CIO, he was responsible for the strategy […]
Figure Technology Solutions (FTS), the parent company of Figure Lending LLC, announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners. It will initially be made available for its home […]
RUN TA EK, Cambodia — It’s been more than a year since Yem Srey Pin moved with her family from the village where she was born on Cambodia’s Angkor UNESCO World Heritage site to Run Ta Ek, a dusty new settlement about 25 kilometers away. Hers is one of about 5,000 families relocated from the sprawling […]
Finance of America Companies (FOA), parent company of industry-leading reverse mortgage lender Finance of America Reverse (FAR), released a new “investor update” this week to update shareholders and other stakeholders on different elements of its reverse mortgage business including its strategic initiatives, business model and an update on its integration of American Advisors Group (AAG). […]
HomeEquity Bank, the leading reverse mortgage lender in Canada and a Schedule I federal bank in the country, announced on Wednesday that its longtime president and CEO Steven Ranson will retire effective June 30. “We have achieved what I set out to achieve many years ago; to establish reverse mortgages and HomeEquity Bank as a […]
Nominations for the 2024 Marketing Leaders award are open now through April 30. This prestigious accolade recognizes the visionaries, innovators and strategists who have set new standards of marketing excellence in mortgage and real estate. HousingWire is proud to have recognized a slew of industry heavyweights since the program started. We’re taking a look back […]
Mortgage demand increased slightly for the first time in four weeks, with a modest uptick in refinance applications leading the way. But don’t expect it to continue. Mortgage applications increased by 0.1% on a seasonally adjusted basis during the week ending April 5, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Mortgage […]
The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have signed onto a memorandum of understanding to formally share information between each other related to nonbank mortgage companies. “The [MOU] establishes substantive information sharing protocols between state financial regulators and FHFA, improving the ability to coordinate on market developments, identify […]
The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy, according to a report by Bloomberg. Lender’s title policies protect lenders from issues that may arise with the title of the property, but they are paid by the borrower. The homebuyer also has the option […]
details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022. The median borrower on a 30-year mortgage in 2023 received an interest rate of 6.625%, which is 1.635 percentage points higher than the same borrower a […]
The most anticipated economic report of the month showed that inflation has not just stalled, but increased. The news almost certainly rules out a rate cut in June, and traders are increasingly skeptical there will be more than a couple cuts in 2024, if any at all. Consumer prices in March were up 3.5% from […]
Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. It found that more people seem to be aware of the potential value that a reverse mortgage could provide for older homeowners, including as a tool to age in place and to provide greater cash flow […]
Baby boomers are exhibiting an overwhelming desire to age in place in their own homes, but their children — largely members of Generation X — are also making their desires felt by seeking out homes that can accommodate their needs as they get older, according to a recent report from the New York Times. Citing […]
U.S. Department of Education Fiscal Year 2025 Budget Request details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. The wholesale lender said it’s offering legal support to partners in case they are sued and once again accused Rocket Mortgage of being behind the report, which the rival denies. On April 2, Hunterbrook […]
Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. Last October, Ameris Bank had to pay $9 million to settle a redlining case. More recently, […]
Thank you, Evelyn, for that introduction. It’s a joy to be back here. I look forward to NABE every year . . . because when I’m here, I know I’m preaching to the choir. Me siento que estoy entre familia. Espero la sopa ahorita. I don’t have to tell this group that being bilingual, biliterate, and […]
HANOI, Vietnam — The Vatican’s top diplomat began a six-day visit to Vietnam on Tuesday as a part of efforts to normalize relations with the communist nation. Richard Gallagher, the Holy See’s foreign minister, met his Vietnamese counterpart Bui Thanh Son and expressed the Vatican’s “gratitude” for the progress that has been made to improve ties. […]
SIEM REAP, Cambodia — A baby monkey struggles and squirms as it tries to escape the man holding it by the neck over a concrete cistern, repeatedly dousing it with water. In another video clip, a person plays with the genitals of a juvenile male macaque sitting on a limestone block from an ancient temple to […]
new orleans — Clarence “Frogman” Henry, who was one of New Orleans’ best known old-time R&B singers and scored a hit at age 19 with “Ain’t Got No Home,” has died. He was 87. Henry died Sunday night, the New Orleans Jazz and Heritage Foundation said on social media. It didn’t give the cause of death. […]
After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent […]
The Mortgage Bankers Association (MBA)’s policy advocacy group, the Mortgage Action Alliance (MAA), is urging its members in the state of Massachusetts to support the continued use of remote telephone and video counseling for reverse mortgages in the state following the lapse of an exemption allowing for remote counseling. “The provision in state law which […]
BY: Amy Loyd, ED.L.D., Assistant Secretary, OCTAE The American postsecondary education system has seen many transformations, but none so democratic and revolutionary as the founding of the first community college in Joliet, Illinois in 1901. Then-president of the University of Chicago William Harper Rainey, and several other influential university presidents, were convinced that for America […]
United Wholesale Mortgage’s (UWM) revenue margins “don’t stand out like” one would expect if the company was overcharging borrowers, analysts at BTIG said on Monday. The comments follow a Hunterbrook Media report from last week stating that UWM pressures brokers to send loans its way, resulting in higher costs to customers. “We think the premise of the thesis […]
New York — “Godzilla x Kong: The New Empire” easily swatted away a pair of challengers to hold on to the top spot at the box office for the second week in a row, according to studio estimates Sunday. After its above-expectations $80 million launch last weekend, the MonsterVerse mashup brought in $31.7 million over its […]