British-born actress and singer Jane Birkin, a 1960s wildchild who became a beloved figure in France, has died in Paris aged 76. The French Culture Ministry said the country had lost a “timeless Francophone icon.” Local media reported she had been found dead at her home, citing people close to her. Birkin had a mild […]
Pianist André Watts, whose televised debut with the New York Philharmonic as a 16-year-old in 1963 launched an international career of more than a half-century, has died. He was 77. Watts died Wednesday at his home in Bloomington of prostate cancer, his manager, Linda Marder, said Friday. Watts joined the faculty of the Indiana University […]
Thousands of actors, from A-list celebrities to those struggling to break into the entertainment industry, voted to go on strike this week, plunging Hollywood and the broader film and television industry into what seems likely to be a lengthy work stoppage. The board of the Screen Actors Guild – American Federation of Television and Radio […]
The Consumer Financial Protection Bureau (CFPB) this week filed an amicus brief in a Maine Supreme Judicial Court in a case involving a married couple’s loan, joining with state officials including the attorney general, its Bureau of Financial Institutions and Bureau of Consumer Credit Protection. The Maine state agencies filed the lawsuit, Franklin Savings Bank […]
During the first six months of 2023, a total of 185,580 U.S. properties went into foreclosure, default notices, scheduled auctions or bank repossessions. That’s up 13% compared to the same period last year and it’s up by 185% compared to the same time period two years ago, when COVID-related restrictions were still in place. Additionally, […]
Wells Fargo and JPMorgan Chase, two top-five depository lenders that struggled more than the overall mortgage market in the final three months of 2022, have started to show real signs of improvement. Due to surging mortgage rates and stubbornly high house prices, their home loan businesses are much smaller than they were a year or […]
The U.S. national team, like most of the rest of the field, faces a long flight to the Women’s World Cup in Australia and New Zealand. Already seasoned travelers, the American players have strategies for wiling away the time. And they’ll certainly need those tactics: The flight to New Zealand, where they’ll spend the group […]
loanDepot has named Darren Graeler as executive vice president and chief accounting officer. He will succeed current CFO David Hayes as the publicly traded lender’s chief accounting officer. The company will pay Graeler a base salary of $335,000 with an annual target bonus of 100% of base salary, according to a filing registered with the […]
The Department of Education (Department) today will begin notifying more than 804,000 borrowers that they have a total of $39 billion in Federal student loans that will be automatically discharged in the coming weeks. In total, the Biden-Harris Administration has approved more than $116.6 billion in student loan forgiveness for more than 3.4 million borrowers. details ⇒ […]
The Los Angeles County Medical Examiners’ office says Lisa Marie Presley, the only child of the iconic musician Elvis Presley, died earlier this year as a result of “a small bowel obstruction.” Presley, who was also a musician, died January 12th, just two days after she attended the Golden Globes where she saw Austin […]
Leaders of a Hollywood actors union voted Thursday to join screenwriters in the first joint strike in more than six decades, shutting down production across the entertainment industry after talks for a new contract with studios and streaming services broke down. It’s the first time two major Hollywood unions have been on strike at the […]
Argyle, a rising player in the digital income and employment verification industry, announced the appointment of Anaid Chacón as its new senior vice president of product. Chacón brings with her over a decade of leadership experience in product management and technology to her new role. At her new company, her primary goal will be to […]
Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM product offerings are critical to any mortgage bankers’ offerings in today’s market. Newfi is leading the way in terms of innovation and service for these originations,” Dan Bayer, SVP of non-QM […]
A sponsor is giving away 20,000 tickets to Women’s World Cup matches in New Zealand as ticket sales remain sluggish in a country in which rugby dominates as the national sport. According to FIFA, 1.25 million tickets have been sold for matches across cohosts Australia and New Zealand. Of those 320,000 have been sold to […]
AG Mortgage Investment Trust, Inc. entered into a dispute with Terra Property Trust, Inc. for Western Asset Mortgage Capital Corp., the company announced on Thursday. AG Mortgage, a pure-play residential mortgage REIT controlled by Angelo Gordon & Co. and owner of mortgage lender ARC Home, made a stock-and-cash offer for its peer Western Asset, managed by Franklin Resources, Inc. The publicly […]
CoreLogic, a provider of real estate data, analytics, and solutions, unveiled this week an upgrade to its CoreLogic Discovery Platform, offering users streamlined access to data-driven business analysis. The recent enhancement introduces pre-designed solutions tailored to assist mortgage lenders in transforming data into valuable insights. With this update, users can make faster decisions and achieve […]
Three veteran sales executives at Movement Mortgage have parted ways with the South Carolina-based lender to join the competitor Summit Funding, sources told HousingWire. Deran Pennington, who spent the last 15 years at Movement and until June 2023 held a national sales director position, is joining Summit as a divisional leader in Charlotte. Pennington’s departure […]
United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae‘s HomeReady and Freddie Mac’s BorrowSmart Geo-Target programs. These offerings will be available in select metro areas including Detroit, Baltimore and Chicago for Freddie […]
The CPI data released today shows the growth rate of inflation cooling off, and that’s good for mortgage rates. If inflation were running hot like in the 1970s, mortgage rates would have easily gotten to 8%-10% last year. The fact that the growth rate of inflation has been falling over the last few months is […]
HBO dominated Wednesday morning’s Emmy nominations, with the elite trio of “Succession,” “The White Lotus” and “The Last of Us” combining for a whopping 74, but the dominant theme darkening the scene is the ongoing writers strike and the looming possibility that actors may join them in as little as a day. “Succession” and its […]
Purchase loans continue to claim a larger share of the origination pipeline as refinance opportunities dwindle, according to Black Knight’s originations market monitor report. In June, purchase locks made up 88.4% of the month’s market mix, a record high. Purchase lock counts were down 31% year over year and 29% compared to pre-pandemic levels in […]
You know what loan officers and real estate agents love almost as much as cashing a commission check? Complaining about other loan officers and real estate agents. And they have good reasons to do so. Talk to a top producer in either field and he or she will tell you: the biggest problem their respective industry […]
Inflation cooled significantly last month, representing arguably the most promising news for the housing industry since the Federal Reserve began instituting aggressive price control measures 16 months ago. But it’s just one report, and the Fed is likely to stay the course until signs point to a ‘break’ in the labor market, economists said. After […]
Vietnam’s move to ban the Warner Bros. film “Barbie” from domestic distribution over a scene showing China’s claimed territory in the South China Sea encapsulates an age-old territorial dispute between the two countries, experts said. A nine-dash line encompassing about 90% of the South China Sea has appeared on Chinese maps since the 1950s. More […]
As mortgage rates reached their 2023 peak, mortgage applications rose slightly but remained very low last week. For the week that ended July 7, mortgage applications rose 0.9% from the prior week, according to data from the Mortgage Bankers Association. “Incoming economic data continue to send mixed signals about the economy, with the overall impact […]
The last time Elina Svitolina was a Grand Slam semifinalist — twice, actually, in 2019 — she was pursuing the usual trappings of success in professional sports: trophies, money, fame, etc. Now Svitolina plays for more important reasons. For her daughter, Skaï, who was born in October. For her country, Ukraine, where a war that […]
Home prices are steady, if relatively high in terms of historical home prices, and homeowners are staying in their homes longer than ever before. The result? American homeowners currently have more tappable home equity than ever — a net $30 trillion in home equity that can be tapped right now, according to HousingWire lead analyst […]
House Numbers, an AI-enabled home wealth management platform, announced on Tuesday that it has raised $3.75 million in pre-seed funding. Resolute Ventures led the round, with participation from Maven Ventures and Uncommon Capital. “The U.S. Census reports 62% of U.S. households have home equity, compared to just 25% of whom hold stocks and mutual funds. […]
Candor Technology, a mortgage artificial intelligence (AI) technology firm, announced this week that it has unveiled its latest product feature, Candor Pre-Check. The tool aims to identify inconsistencies between loan applications and borrower-provided documents to data accuracy. “At Candor, we strive to create best-in-class technology to benefit the consumer, the lender, and the mortgage investor. […]
Double Olympic champion runner Caster Semenya won an appeal against track and field’s testosterone rules on Tuesday when the European Court of Human Rights ruled she was discriminated against and there were “serious questions” about the rules’ validity. World Athletics, which enforces the regulations, said in reaction to the decision that its rules would remain […]
Red Hot Chili Peppers, Ms. Lauryn Hill and Megan Thee Stallion will headline this year’s Global Citizen Festival as the anti-poverty nonprofit looks to focus attention on increasing inequality for girls and young women around the world. Global Citizen CEO Hugh Evans said the Sept. 23 event at New York’s Central Park will be the […]
Mortgage rate volume climbed 31% in June, according to the latest report from Mortgage Capital Trading. That figure, which is based on actual locked loans, came after a 15% drop in May’s total lock production. Mortgage rates in June were generally in the 6.7% range. “We saw originations towards the end of May slow down, […]
The last two years of the mortgage market have been unusual. As the refinance market plummets and the purchase market sees significant reductions in volume, lenders are faced with the challenge of finding more business. The best way to do so is to retain your current customers. CoreLogic’s Precision Marketing helps lenders connect with their […]
The decline in mortgage volume and increasing interest rates mean that mortgage businesses are working to preserve their bottom lines, often by cutting costs. For many, this has meant layoffs and job cuts — in fact, almost every major mortgage lender cut a portion of their staff last year. As time goes on and uncertainty […]
The Netherlands and Indonesia on Monday hailed the return of hundreds of cultural artifacts taken — sometimes by force — during colonial times as a major step forward in restitution efforts worldwide. The items, ranging from valuable jewels to 13th-century temple carvings, were officially handed back to Indonesia at a ceremony at the Museum Volkenkunde […]
As the spring homebuying season comes to an end, there are distinct signs of the housing market reheating from a home price perspective. The lack of inventory drove home prices up, challenging potential buyers, Black Knight pointed out in its monthly mortgage origination report. The reheating is widespread with more than half of the 50 […]
Indiana Jones’ reign atop the box office was short-lived. In its second weekend in theaters, the Disney release was usurped by another franchise fifth – ” Insidious: The Red Door.” The horror film starring and directed by Patrick Wilson scared up $32.7 million in ticket sales from 3,188 theaters, according to studio estimates on Sunday. […]
The slow zombie crawl of housing inventory went lower last week as inventory was negative week to week. In addition, mortgage rates rose to a yearly high as labor data stayed firm and purchase apps had their first negative week after three straight weeks of positive growth. Weekly Active listings fell by 866 homes Mortgage […]
STOCKHOLM – Surrounded by emotional fans from around the globe, Elton John hailed them as his “lifeblood” as he gave his final farewell concert in Stockholm after more than 50 years of live performances. “You know how much I like to play live. It’s been my lifeblood to play for you guys, and you’ve been absolutely […]
Two very different films are set to come out on July 21. One is about the development of the world’s first nuclear weapons. The other is about Barbie. Which one has proved to be contentious on the global stage? Surprisingly, it’s not the Oppenheimer biopic. Instead, the much-anticipated “Barbie” has stoked controversy in both Vietnam […]
The Homeowners Assistance Fund (HAF) — a program designed to offer financial help to homeowners impacted by the COVID-19 pandemic — has kept more than 300,000 homeowners in their homes by curing defaults and keeping them out of foreclosure, according to data released this week by the U.S. Department of the Treasury. “As of March […]
The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Job gains were relatively solid yet again in June, with total nonfarm payroll employment reaching 209,000 jobs, compared to 339,000 in May, according to data released Friday by the Bureau of Labor Statistics. This increase is slightly under the average […]
Consumer confidence in housing may have plateaued, according to the latest home purchase sentiment index (HPSI) by Fannie Mae. The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — rose a mere 0.4 points to 66 as difficult supply and affordability conditions continue to weigh on the […]
Digital mortgage lender Better.com disclosed during its Q1 2023 earnings call that it posted a net loss of $89.9 million in the first quarter of 2023 and cut approximately 91% of its workforce over an approximately 18-month period — due in large part to a substantial decline in its funded loan volume. Better.com also spilled […]
Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The 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 6.81% as of July 6, up significantly from last week’s 6.71%. By contrast, […]