The city of Laguna Beach, Calif. recently offered details of its city-sponsored aging-in-place program, dubbed “Lifelong Laguna,” in a profile published by CNBC. It provides new insight into the measures cities can explore to more easily facilitate aging-in-place goals for older residents. 2021 research from AARP indicates that 77% of adults at or over the […]
Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. Announced earlier this week as a part of a broader effort to introduce […]
HousingWire Editor in Chief Sarah Wheeler sat down with Jim Butler, chief technology officer at Stavvy, to talk about moving real estate from paper to a digital transaction, how the company is using AI, and the vibe you get working with industry experts. Previously, Butler served as CTO of HqO, an employee experience platform for […]
KUALA LUMPUR, Malaysia — The director and producer of a banned Malaysian film that explores the afterlife were charged Wednesday with offending the religious feelings of others in a rare criminal prosecution of filmmakers, slammed by critics as an attack on freedom of expression. Mohamad Khairianwar Jailani, the director and co-scriptwriter of Mentega Terbang, and producer […]
The Consumer Financial Protection Bureau (CFPB) is sounding the alarm about an accelerating rate of scams that most commonly target older Americans, where a bad actor will pose as an official representative of the Bureau or another federal agency. The CFPB published a blog post on Tuesday describing details of the scam, including the lengths […]
Fannie Mae and Freddie Mac are in the spotlight again over the role some housing-industry experts say they could play in reducing mortgage rates if they resumed a more active investor role in the mortgage-backed securities (MBS) market. That’s a role those government-sponsored enterprises (GSEs) have not played since prior to entering into conservatorship in the wake of […]
Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery. Overall, mortgage applications rose by 10.4% in the week ending Jan. […]
David Stevens, a legend of the mortgage banking industry who helmed the Federal Housing Agency and the Mortgage Bankers Association in a career that spanned four decades, has died. “The real estate finance community mourns the loss today of one of its great leaders and fiercest advocates,” current MBA President Bob Broeksmit said in a […]
Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD. Sitting for a HUD oversight hearing […]
California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. Anchor Loans’ TPO channel will provide residential business purpose loan products – including bridge, fix and flip, ground-up construction and rental […]
A reverse mortgage may be a viable financial instrument to help pay for older Americans’ long-term care priorities, but they — and their implications on entitlement eligibility — need to be fully considered. This is according to a new column at MarketWatch, comparing reverse mortgage product features to other potential options and enlisting commentary from […]
Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement. Released on Tuesday morning, the move is a further attempt to address the well-documented liquidity challenges that have been plaguing the […]
In the Western United States, professional bull riders risk serious injury on the back of bulls that can weigh more than 700 kilograms. But eight seconds on a bucking beast can mean thousands of dollars. VOA’s Scott Stearns takes us to the show. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
LOS ANGELES — List of the top winners of the prime-time Emmy Awards. BEST DRAMA SERIES: “Succession” BEST COMEDY SERIES: “The Bear” BEST LIMITED OR ANTHOLOGY SERIES: “Beef” ACTOR IN A DRAMA SERIES: Kieran Culkin, “Succession” ACTOR IN A COMEDY SERIES: Jeremy Allen White, “The Bear” ACTRESS IN A DRAMA SERIES: Sarah Snook, “Succession” SUPPORTING ACTRESS […]
LOS ANGELES — “Succession” secured its legacy with its third best drama series award, “The Bear” feasted as the night’s top comedy, and the two shows about squabbling families dominated the acting awards at Monday night’s Emmys. Historic wins also came for Quinta Brunson of “Abbot Elementary” and Steven Yeun and Ali Wong of “Beef” at the […]
london — Lionel Messi has been named FIFA’s best men’s player after moving from Paris Saint-Germain to Inter Miami and leading the David Beckham-owned team to a little-known Leagues Cup title — all while single-handedly elevating soccer’s relevance in the United States. The 36-year-old Argentine on Monday was selected over Kylian Mbappe and Erling Haaland, the […]
Los Angeles — The time has finally come for a most unusual Emmys. The 75th Primetime Emmy Awards are arriving four months past their due date on Monday night at the Peacock Theater, coming after a year of historic Hollywood turbulence in an industry whose upheavals are evident everywhere. Strikes by both actors and writers, seismic […]
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New York — Joyce Randolph, a veteran stage and television actress whose role as the savvy Trixie Norton on “The Honeymooners” provided the perfect foil to her dimwitted TV husband, has died. She was 99. Randolph died of natural causes Saturday night at her home on the Upper West Side of Manhattan, her son Randolph Charles […]
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Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. Last year at this time, […]
WASHINGTON — Archaeologists have uncovered a cluster of lost cities in the Amazon rainforest, an area that was home to at least 10,000 farmers around 2,000 years ago. A series of earthen mounds and buried roads in Ecuador was first noticed more than two decades ago by archaeologist Stephen Rostain. But at the time, ” I […]
With much of the U.S. retirement conversation often focused on the increasing challenges of maintaining a quality of living into older age, a law passed by Congress in 2022 could be a positive sign. The Securing a Strong Retirement Act of 2022, known by its moniker “SECURE 2.0,” includes provisions including automatic enrollment of more […]
Mortgage businesses at Wells Fargo, JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). The downsized volume reflects two equally important […]
Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. Known as “RateReduce Sell,” it’s a major enhancement to the existing RateReduce buydown program, in which sellers have paid to temporarily buy lower mortgage […]
New data show 6.9 million borrowers are enrolled in the Administration’s most affordable repayment plan details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Inflation came in hotter than expected on Thursday, but we are still talking about rate cuts in 2024! The 10-year yield had a mild reaction to today’s data, increasing a few basis points early. It’s now at 3.98%, a far cry from 5.04% as we saw last year. This, while jobless claims data is still historically […]
KYIV, Ukraine — Hundreds of people attended a ceremony Thursday honoring the memory of renowned Ukrainian poet Maksym Kryvtsov, who was killed in action while serving as a soldier in the war Russia started in Ukraine nearly two years ago. A large crowd gathered in the courtyard of Kyiv’s St. Michael’s Golden-Domed Monastery, where ceremonies are […]
Just over 60% of U.S. seniors at or over the age of 50 have not sought out professional retirement planning advice, despite data indicating a general lack of retirement preparedness among the older population according to a survey published this month by AARP and conducted by the National Opinion Research Center (NORC) at the University […]
After a long period of silence and extensions granted by the U.S. District Court for the Northern District of Texas, Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from […]
FOXBOROUGH, Mass. — Six-time National Football League champion Bill Belichick agreed to part ways as the coach of the New England Patriots, ending his 24-year tenure as the architect of the most decorated dynasty of the league’s Super Bowl era. Belichick and team owner Robert Kraft announced the move to the media Thursday at Gillette Stadium. […]
I’ve interviewed 17 tech executives since we launched our HousingStack newsletter in September and I’ve been surprised and thankful for the candor and insight of each executive. Here are some of the highlights from those interviews on the important topics they’re thinking about. On the right tech mindset: Adam Carmel, Polly CEO: “When I was […]
Today, Vice President Kamala Harris announced $6.4 million from the U.S. Department of Education (Department) to address community violence. The funding is being awarded to seven school districts across the country as part of the Project Prevent grant program. The Vice President will make the announcement in Charlotte, North Carolina, where she will be joined […]
Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue. One potential stream that quickly comes to mind is […]
TransUnion released a new portfolio management solution designed to help lenders assess the riskiness of a portfolio from a property value perspective, the company announced on Wednesday. TruVision Consumer Property Insights’s mission is to help protect both lenders and borrowers from the potential risks associated with property value fluctuations, the company said. The product will […]
Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish […]
Los Angeles — Fresh from its wins at the Golden Globes, Christopher Nolan’s “Oppenheimer” on Wednesday topped the nominations for the influential Screen Actors Guild Awards, which are key to Oscars success. The SAG Awards, voted on by Hollywood actors, are likely to enjoy a profile boost of their own this year as they are broadcast […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that the San Francisco Conservatory of Music has entered into a resolution agreement to ensure its compliance with Title IX of the Education Amendments of 1972, when responding to allegations of student-to-student sexual harassment, including sexual assault and stalking. OCR investigated whether the […]
Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former employees accused of poaching when they transitioned to rival CrossCountry Mortgage. The case began in August 2021 when Guild filed a demand for arbitration claiming Christopher Flowers, Cory Flynn and Lisa […]
Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology. Blue Sage Solutions’s primary product offering is a cloud-based digital lending platform designed to operate in the retail, wholesale, and correspondent lending channels while ensuring compliance. Additionally, the platform is accessible to all […]
Rapidly expanding Cleveland, Ohio-based CrossCountry Mortgage (CCM) has struck a deal to acquire the smaller retail mortgage lender AmCap Home Loans and bolster its operations in Texas. In an exclusive interview with HousingWire, Ron Leonhardt, a former mortgage broker who founded CCM in 2003, confirmed conversations with the parties started years ago, although the transaction closed on Tuesday. Leonhardt first […]
Mortgage giant Mr. Cooper Group has named Mike Weinbach, a former Wells Fargo and JPMorgan Chase executive, as its new president. He will succeed Chris Marshall, who is retiring at the end of 2024 but will assist with the transition. Weinbach, 50, will be in charge of the company’s operations, which includes originations, servicing and technology, Mr. Cooper announced on […]
Rocket Pro TPO, the wholesale arm of Rocket Mortgage, hopes to woo brokers with a slew of product enhancements and services. Rocket Pro TPO‘s executive vice president Mike Fawaz shared major changes and commitments for the broker community at its IGNITE Live event on Monday afternoon. Rocket Pro TPO affirmed that it will continue to […]
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Among the numerous issues that retirement preparation can present to those near the end of their careers, long-term care (LTC) provides an increasingly common discussion point. One potential product that could assist in paying for LTC and its insurance could be a reverse mortgage, according to personal finance publication Kiplinger. LTC is already an expensive […]