Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% compared to the current limit of $726,200. “We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. This is in anticipation of the loan limit increase for 2024,” Kate Amor, senior vice president and head of enterprise […]
A coalition of housing trade groups — including the Mortgage Bankers Association (MBA), National Association of Realtors (NAR) and National Association of Home Builders (NAHB) — called on the Federal Reserve to provide market certainty about the Fed’s rate path and its plans for the mortgage-backed securities (MBS) portfolio. Ongoing market uncertainty about the Fed’s […]
A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. However, Guaranteed Rate hopes to change that with the launch of its new consumer-focused Rate App. The free app, which officially launches Tuesday, allows users to price out mortgages, personal loans and other finance products that Guaranteed […]
When mortgage rates blew past the 7% level earlier this year, the securitization market “froze up temporarily,” according to Doug Duncan, senior vice president and chief economist at the government-sponsored enterprise Fannie Mae. “Investors who would buy a mortgage-backed security [MBS], which is backed by mortgages that have a 7% coupon, believe that when the Fed eases interest […]
President Recep Tayyip Erdogan on Sunday inaugurated the first church built with government backing in overwhelmingly Muslim Turkey’s 100-year history as a post-Ottoman state. The Mor Ephrem Syriac Orthodox Church’s opening marks an important cultural and political moment for both Turkey and its powerful leader. Erdogan drew widespread condemnation during his two-decade rule for converting […]
Tourists at the Acropolis this holiday season can witness the resolution of one of the world’s most heated debates on cultural heritage. All they need is a smartphone. Visitors can now pinch and zoom their way around the ancient Greek site, with a digital overlay showing how it once looked. That includes a collection of […]
The Albuquerque International Balloon Fiesta has brought colorful displays to the New Mexico sky in an international event that attracts hundreds of thousands of spectators every year. The event started Saturday with a drone light show before sunrise followed by a mass ascension of hot air balloons. Over nine days, local residents and visitors will […]
If stones could talk, sing and tell stories, Yogi Trivedi believes the marble and limestone that adorn the spires, pillars and archways of the stunning Hindu temple in central New Jersey would compose a paean to the divine. The tales these stones tell are those of seva (selfless service) and bhakti (devotion), which form the […]
United Wholesale Mortgage, the country’s top mortgage lender, announced an enhancement to its PA+ service on Saturday, allowing brokers and their processors to choose which part of the loan process they would like a lender’s loan coordinator to handle. Launched in May 2023, PA+ is a service that provides a dedicated UWM loan coordinator for […]
Human rights campaigners across the world welcomed the awarding of the 2023 Nobel Peace Prize to Narges Mohammadi, an Iranian women’s rights campaigner who is jailed in Tehran. Henry Ridgwell reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
When the megaphone called out for the daily Islamic prayers, the nonbeliever grabbed his prayer beads and ambled through the streets to join others at the mosque in Kano, northern Nigeria’s largest city. Formerly a Muslim, he now identifies as an atheist but remains closeted, performing religious obligations only as a cover. “To survive as […]
Top advocates for the wholesale channel criticized the increased volume of loan buybacks from government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac amid a shrinking mortgage market. In a session about brokers’ influence on national policy during AIME Fuse 2023 in Las Vegas on Friday, trade group representatives and wholesale executives said that loan repurchases […]
Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable […]
The U.S. State Department is marking the 60th anniversary of its Office of Art in Embassies, a government partnership with art communities to promote democratic values. VOA’s Saqib Ul Islam shows us two of its traveling exhibitions that were on display in Washington. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
The U.S. Department of Education (Department) today announced technical assistance centers to support state and local efforts to support and enhance student wellbeing, academic success, and school safety. These centers further the Department’s commitment to accelerate learning, meet students’ mental health needs, and expand academic opportunity and success inside and outside of the regular school […]
With 30-year fixed mortgage rates climbing to a 23-year high, the Mortgage Bankers Association (MBA) called on the Federal Reserve to bring some certainty to financial markets. “It is time, and very important for the Fed to make clear two statements — the Fed is at the end of its rate hikes; the Fed will […]
New American Funding’s partnership with Matic Insurance and OneSource Solution will provide insurance and home setup services for existing and new customers while NAF is processing the loan. NAF Insurance and NAF Concierge will be integrated into NAF’s loan process to remove friction from the mortgage, home buying and moving experience, the California-headquartered lender said. […]
U.S. Secretary of Education Miguel Cardona today announced the appointment of 11 prominent education leaders – seven new members and four reappointed members – to the National Assessment Governing Board, which oversees the Nation’s Report Card. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
It’s been more than 20 years since “Spy Kids” made its way to movie theaters around the world. Filmmaker Robert Rodriguez has rebooted the franchise to attract a new generation. VOA’s Veronica Villafañe spoke with the director and has more in this report. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: […]
The state of the mortgage industry is rife with concern as elevated rates and low inventory have stunted both refinance and origination activity. As a result, the makeup of the mortgage ecosystem is shifting. Private correspondent aggregators play an essential role in the upkeep of a balanced mortgage ecosystem. While this term may be unfamiliar […]
Imprisoned activist Narges Mohammadi won the Nobel Peace Prize Friday for fighting the oppression of women in Iran. “She fights for women against systematic discrimination and oppression,” said Berit Reiss-Andersen, the chair of the Norwegian Nobel Committee who announced the prize in Oslo. Authorities arrested Mohammadi in November after she attended a memorial for a […]
For years, Chinese officials have referred to the Tiananmen massacre as “political turmoil” and have attempted to make the violence of June 4, 1989, disappear. Estimates of the death toll range from several hundred people to more than 10,000, though there has never been an official tally released. Thousands more were injured by troops who […]
A photo of Dick Butkus sneering behind his facemask filled the cover of Sports Illustrated’s 1970 NFL preview, topped by the headline, “The Most Feared Man in the Game.” Opponents who wound up on the business end of his bone-rattling hits could testify that wasn’t an exaggeration. Butkus, a middle linebacker for the Chicago Bears […]
Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. Movement will employ FICO 10 T “to analyze their non-conforming loans, in conjunction with the classic FICO Scores,” the company said in […]
Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide. The new DU update will […]
The implementation of more careful loan screening procedures has contributed to lower levels of risk for mortgage fraud. Mortgage application fraud declined 3.1% year-over-year in Q2 of 2023 compared to the second quarter of 2022, according to CoreLogic Mortgage Fraud Report. However, they increased slightly(+1.6%), from Q1 to Q2 2023. Overall, in the second quarter […]
The Asian Real Estate Association of America (AREAA) shared its annual “A-List” on Monday. Shirley Gary, Tracy Allen, Realty Group, and the Advanced Super Team ranked highest in AREAA’s real estate sales list, while Shashank Shekhar and Joanna Yu topped the loan originators rankings. When added-up together, the A-List honorees generated more than $15.4 billion […]
Zimbabwean author Tsitsi Dangarembga received the Africa Freedom Prize in Johannesburg on Thursday, which is awarded to individuals who “have shown remarkable courage and dedication to advancing the cause of freedom, democracy and human rights on the African continent.” Tsitsi Dangarembga has long been one of Zimbabwe’s most highly regarded and beloved fiction writers — […]
Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct. 5th, up 18 basis point from last week’s 7.31%. […]
As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. Between the summer of 2019 to date, there have been at least 26 […]
Norwegian author Jon Fosse has been awarded this year’s Nobel Prize in Literature. The Swedish Academy highlighted what it said were Fosse’s “innovative plays and prose, which give voice to the unsayable.” “His immense oeuvre written in Norwegian Nynorsk and spanning a variety of genres consists of a wealth of plays, novels, poetry collections, essays, […]
It’s been 15 years since the world’s elite gas balloon pilots have gathered in the United States for a race with roots that stretch back more than a century. The pilots will be launching for this year’s Gordon Bennett competition during an international balloon fiesta that draws hundreds of thousands of spectators to the heart […]
Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions. The first update is a change to the documentation requirements for rental income that is used in a qualifying decision. “We updated our policies for […]
As major home insurance carriers are increasingly pulling back their coverage options in disaster-prone areas, hundreds of thousands of people are moving to state-sponsored “last resort” insurance plans originally designed to offer a temporary fix. According to reporting from the Wall Street Journal, such plans — typically used for those who have no other options […]
In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — […]
The 2030 World Cup will play out across three continents, FIFA, soccer’s governing body, announced Wednesday. The World Cup is usually limited to one host nation, sometimes two. But 2030’s edition will be hosted by an unprecedented six countries: Spain, Portugal, Morocco, Argentina, Paraguay and Uruguay. Originally, Spain and Portugal proposed to host the 2030 […]
Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. “First Savings Bank has planned a layoff in which a significant portion of impacted employees are considered remote or […]
When members of a tourist group did not like the food in the only restaurant in Turkey’s ancient city of Mardin in 2000, their tour guide, Ebru Baybara Demir, invited them to her home for dinner. That decision created a whole new life and career for Demir. VOA’s Mahmut Bozarslan has this report from Mardin, […]
Digital lending platform Revvin joined forces with Truework, an income and employment verification platform, to provide comprehensive income verification coverage. The new partnership will allow lenders who use the Revvin platform to automatically verify any borrower at any point of the loan application process, according to a news release. Income verification technology is typically used […]
Hollywood actors on strike want to limit the use of Artificial Intelligence in moviemaking, hoping for the same success as Hollywood writers, who ended their five-month strike last week after a deal with major studios. From Los Angeles, Genia Dulot has our story. Video edit: Bakhtiyar Zamanov details ⇒ BusinessMediaguide.Com portal received this content from this […]
Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported. Purchase mortgage application […]
Muslim comic creators are working to change Islamic stereotypes in American pop culture. Genia Dulot has our story, with videography by Roy Kim. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
The fourth edition of the World Culture Festival brought together hundreds of thousands of people from all around the world to the National Mall in Washington Sept. 29 through Oct. 1. First held in Bangalore in 2006, the festival continued in 2011 in Berlin and 2016 in Delhi. That event was attended by more than […]
Less than a month after Constellation Software acquired Optimal Blue, three members of its senior leadership departed the firm. Optimal Blue is Constellation’s product and pricing engine unit that was part of Black Knight Origination Technologies, which recently rebranded to Dark Matter Technologies after the integration. “Acquisitions commonly prompt change and leadership transitions, and our […]
Mortgage rates and bond yields kept rising Tuesday as the job openings unexpectedly increased more than anticipated. But is that job openings data legit today? And will job openings continue higher, pushing mortgage rates even higher in the future? I believe today’s job openings data needs some context, but it didn’t matter to bond traders […]