Rocket Mortgage is looking to hire local loan officers at a time when mortgage rates are high and the industry remains heavily reliant on the purchase market. The Michigan lender, which racked up record profits with its call center model during the pandemic due to a large number of refis, said hiring local LOs isn’t […]
Sprout Mortgage and its ex-workers are close to settling several lawsuits over unpaid wages following the abrupt closure of the non-QM lender 11 months ago. A judge has yet to approve the deal. On June 1, attorneys representing the former employees filed a notice of motion for preliminary settlement approval in a federal district court in […]
Cenlar FSB, the second-largest mortgage servicer and largest subservicer in the U.S., announced on Tuesday the promotion of two leaders in its wholesale bank division. Keith Austin has been promoted to director of asset management and valuation services. With over 25 years of experience in portfolio management, he brings to the role an extensive expertise in default […]
In honor of National Homeownership Month, Chase Home Lending unveiled on Tuesday an upgraded suite of resources for homebuyers to assist in navigating the homebuying process and managing homeownership. One resource unveiled by Chase is Lock and Shop, which enables buyers to lock in their mortgage rate for 90 days without an upfront fee when […]
With rates around 6.9% and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Michael J. Barnes, a branch manager at Mann Mortgage, recently had a client who planned to live in a new home for five years before selling […]
Kashmir valley, in the Indian- administered portion of Kashmir, is known for its unique craftsmanship. For centuries, locals learned skills from those who arrived from central Asia following the arrival of Islam in the region. However, among the hundreds of skills, three are in danger of being lost. For VOA, Muheet Ul Islam reports from […]
Nationwide Property & Appraisal Services LLC (NPAS), a pioneer in the real estate appraisal sector, announced on Tuesday the launch of its product line, Pinnacle Desktop Appraisals. This service delivers a cost-effective solution that enhances efficiency, accuracy, and impartiality, according to the company. Designed to cater to the needs of home equity lenders, fix and […]
Tens of thousands of people in Thailand celebrated Bangkok Pride with a parade on Sunday. Some Thais say they hope laws will one day allow same-sex marriage in a society that has already changed. Vijitra Duangdee reports from Bangkok. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Top U.S. originator United Wholesale Mortgage (UWM) is the target of two lawsuits filed by former underwriters alleging retaliation, a hostile workplace environment, gender/sexual harassment and failure to pay minimum wages and overtime. The company declined to comment on the accusations. According to the lawsuits filed in a U.S. district court in Michigan, the alleged events occurred […]
Seven people involved in different racist attacks against Real Madrid forward Vinicius Jr have been punished by Spain’s State Commission against Violence, Racism, Xenophobia and Intolerance in Sport, the country’s Sports Commission said on Monday. Four men were fined $64,255 and banned from sports venues for two years after hanging a banner reading “Madrid hates […]
The U.S. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Top Producer Software, a leading real estate software provider, announced on Monday the release of its first-ever social media lead product, Social Connect. This new product combines social media marketing with automated lead nurture to enable real estate agents to grow their database and convert more leads into clients. “Social Connect is a game changer […]
Desmond Smith: There are two ways to get a mortgage — HousingWire recently spoke with Desmond Smith, chief growth officer at United Wholesale Mortgage, about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HousingWire: What role has wholesale lending historically played in […]
Direct retail lender Revolution Mortgage has scooped up two of loanDepot‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area. […]
The affordability challenges homebuyers are facing are becoming more deeply entrenched, according to Black Knight‘s most recent monthly mortgage monitor report. “In a sense, the gridlocked housing market has been feeding on itself,” Andy Walden, VP of enterprise research strategy at Black Knight, said. Tightening credit availability, elevated rates, inventory shortages and strengthening home prices […]
PARIS (AP) — France’s beloved abbey of Mont-Saint-Michel has reached a ripe old age. It’s been 1,000 years since the laying of its first stone. The millennial of the UNESCO World Heritage site and key Normandy tourism magnet is being celebrated until November with exhibits, dance shows and concerts. French President Emmanuel Macron is heading […]
Among the thousands of fans in the stands at Europe’s biggest soccer games are a few people operating undercover. Trained volunteer observers listen for racist chants and watch for extremist symbols on banners. “You have to be aware of the environment and fit in without standing out. You have to be discreet,” one observer, who […]
The National Building Museum in Washington has launched a new long-term exhibition called Brick City, which re-creates the iconic architecture of cities around the world using Lego bricks. Maxim Moskalkov has the story. Camera: Andrey Degtyarev details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Stretch limousines — once a symbol of the rich and famous — are now rarely seen on the roads and at red carpet events. Karina Bafradzhian investigates why demand for limousines has declined. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
It’s been such a different year for inventory from 2023 versus 2022 that we are heading toward an event that would have seemed impossible in earlier years: If the current inventory trend continues, we will see some negative year-over-year inventory data soon for the weekly single-family listing data. the chart below shows the clear trend, […]
Hollywood’s major studios reached a tentative labor agreement with the union representing film and television directors, likely averting a work stoppage that would have piled pressure on media companies to settle with striking writers. The Directors Guild of America (DGA) will ask its 19,000 members to approve the three-year contract, which was announced late Saturday […]
“Spider-Man: Across the Spider-Verse” opened in U.S. and Canadian theaters with a massive $120.5 million, more than tripling the debut of the 2018 animated original and showing the kind of movie-to-movie box-office growth that would be the envy of even the mightiest of Hollywood franchises. Sony Pictures’ “Across the Spider-Verse,” the multi-verse spinning animated Spider-Man […]
Kaija Saariaho, who wrote acclaimed works that made her the among the most prominent composers of the 21st century, died Friday. She was 70. Saariaho died at her apartment in Paris, her family said in a statement posted on her Facebook page. She had been diagnosed in February 2021 with glioblastoma, an aggressive and incurable […]
In California, members of an under-the-radar, minority religious community are stepping into the public eye to advocate for making the state the first in the nation to outlaw caste bias. They are the Ravidassia — followers of Ravidass, a 14th century Indian guru who preached caste and class equality. There are about 20,000 members of […]
The U.S. Department of Justice (DOJ) this week announced that it had secured a settlement of more than $3 million from Philadelphia, Penn.-based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. According to a complaint filed by […]
Polly, a leading provider of innovative mortgage capital markets technology, recently announced the appointment of industry veteran Cheryl Messner as chief customer officer (CCO). Messner, who has extensive experience and expertise in mortgage fintech, joins Polly as the company experiences significant growth and adoption in the industry. “Polly has revolutionized traditional pricing and loan delivery, […]
Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. Meanwhile, 2025 and 2026 will be off the charts. What does Ishbia think about surging mortgage rates, lack of housing inventory and monetary […]
The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. It’s a simple goal, but as is often the case in U.S. housing policy, it is being executed in a very complicated […]
Mortgage rates jumped last week amid a debt ceiling impasse and expectations of another federal funds rate hike. However, rates have started to reverse course over the last few days, following news of a debt agreement and an expectation that the Federal Reserve may pause hikes. On the fiscal side, President Joe Biden and House Speaker […]
Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The financial terms of the transaction have not been disclosed. With the acquisition, Planet will inherit the majority of Platinum’s origination staff and branches throughout the country. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast […]
The arrest of Byuhar, a popular rapper in Myanmar, has caused widespread alarm among his loved ones and fellow artists. The 38-year-old rapper, whose legal name is Min Oak Myanmar, had strongly criticized the Myanmar junta, calling them “incompetent fools,” on social media because of the worsening power outage situation in Myanmar’s largest city, Yangon. […]
The Federal Housing Administration (FHA) submitted for public comment on Wednesday its proposal to create a new partial claim option, a result of its acknowledgment that its current loss mitigation toolkit isn’t enough to support struggling borrowers as rates surge. The Payment Supplement Partial Claim will allow servicers to use the FHA partial claim to bring a […]
Austin-based rent reporting fintech Boom announced on Wednesday that it has raised $4.5 million in a seed round to improve user experience, expand its product offerings and market its app to customers. The seed round was led by Chicago-based venture capital fund Starting Line, followed by Clocktower Technology Ventures, Company Ventures, Gilgamesh Ventures, and Plaid […]
Higher mortgage rates caused by the debt ceiling drama and resilient inflation reduced demand for home loans last week, affecting the already depressed refinancings in particular, according to the latest Mortgage Bankers Association (MBA) data. The trade group’s market composite Index declined 3.7% on a seasonally adjusted basis for the week ending May 26 compared to […]
Female artists examine their lives and cultures in an exhibition featuring art from the Middle East and other areas, now on display in Los Angeles. The exhibition, called “Women Defining Women,” explores the roles of women in traditional societies and modern life. Mike O’Sullivan takes a look. details ⇒ BusinessMediaguide.Com portal received this content from […]
The debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy on Saturday represents momentary relief for the mortgage market, as it reduces the chances of a federal government default. But that’s just the first step in an ongoing effort to avoid the chaos. The deal has to receive Congressional approval before […]
Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. The decision is part of UBS’s strategy to focus more on financing mortgage originators, the outlet said, citing an anonymous source discussing non-public information who asked not to […]
Artificial intelligence (AI) is a buzzword in virtually every industry right now. And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari, Blend‘s co-founder and CEO. “Some of these borrowers have hundreds of products that they can choose from. How is an […]
Vinicius Junior is an idol to millions for his sublime goalscoring skills for Real Madrid but off the football pitch he has prompted a stark national debate over racism in Spain. The 22-year-old Brazilian player was reduced to tears after, once again, being the target of ugly abuse during a game between his team and […]
For the first time since 1937, a Chinese man competed in the main draw of the French Open — and, actually, a total of three did, all playing opening-round matches on Monday. The first of the groundbreaking group in action on the red clay of the Grand Slam tournament at Roland Garros was Shang Juncheng, […]
For those seeking to live in the most sustainable way, there now is an afterlife too. A Dutch intrepid inventor is now “growing” coffins by putting mycelium, the root structure of mushrooms, together with hemp fiber in a special mold that, in a week, turns into what could basically be compared to the looks of […]
The Mogadishu Book Fair, an annual literary event that was launched in 2015, took place last week after a three-year break because of the COVID pandemic. The fair, meant to promote reading and Somali culture and heritage by bringing together literary creatives and young people, was held at the National Theatre of Somalia. Mohamed Sheikh […]
“The Little Mermaid ” made moviegoers want to be under the sea on Memorial Day weekend. Disney’s live-action remake of its 1989 animated classic easily outswam the competition, bringing in $95.5 million on 4,320 screens in North America, according to studio estimates Sunday. And Disney estimates the film starring Halle Bailey as the titular mermaid […]
New listing data rose last week, according to Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory, thankfully, saw some decent growth last week. Purchase application data had a second straight week of declines. Here’s a quick […]
The chants of “monkey!” at the Spanish soccer stadium echoed across the Atlantic, reaching people on the outskirts of Rio de Janeiro. That’s where Vinícius Júnior, who is Black, grew up and launched his soccer career. Now, despite his global fame and millions, he was again the target of crude European racism. His city in […]