The financials are all red for the top U.S. mortgage lenders for the fourth quarter of 2022. United Wholesale Mortgage (UWM) reported on Wednesday morning an unprofitable quarter, the day after Rocket Companies disclosed its most significant quarterly loss in company history to the market. UWM, the top U.S. wholesale lender, maintained flat gain-on-sale margins relatively in the fourth […]
Today, U.S. Secretary of Education Miguel Cardona issued the following statement after the conclusion of oral arguments before the Supreme Court on the Department’s one-time student debt relief program: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Independent mortgage lender New American Funding (NAF) has partnered with hyper-local news platform Patch to become its exclusive mortgage provider, the company announced on Tuesday. Through this partnership, NAF will be featured in Patch’s weekly newsletters in more than 1,200 communities nationwide, and the mortgage and real estate verticals on Patch’s community websites. “This partnership […]
In Senegal, slam poetry is making its mark on urban culture and offering young people a way to voice their opinions about their lives and society. Seydina Aba Gueye has this report from Senegal, narrated by Salem Solomon. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Mortgage technology giant Black Knight reported slimmer organic growth in 2022 amid operational challenges for its clients, which stemmed from high interest rates. Black Knight reported organic revenue growth of 4%, which demonstrates the durability of our business model,” the firm’s chief executive officer Joe Nackashi said in a statement. “We remain focused on winning […]
A South African group is bringing films to African youth in impoverished areas with poor services through solar-powered, portable cinemas. The group, Sunshine Cinema, works in four countries aiming to inspire more youth on the continent through African films. Zaheer Cassim reports from Pankop, South Africa. details ⇒ BusinessMediaguide.Com portal received this content from this […]
The 2022 housing market was largely characterized by the swift slowdown in demand caused by rapidly rising mortgage rates. However, even as existing home sales fell 17.8% year over year in 2022, according to data from the National Association of Realtors, home prices still managed to rise 5.8% for the year as a whole, according […]
Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. “At Better, our mission is to make homeownership cheaper, faster and easier for all Americans,” Better CEO and founder Vishal Garg […]
RMK Financial Corporation, which does business as Majestic Home Loans, has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. The CFPB issued the initial agency order against RMK for, among […]
Successful negotiation begins within. It may seem surprising, yet this is what we’ve found true in our experience at the junction between financial services and technology. The first step in securing the best outcome for yourself, your enterprise and the people you serve is to not talk yourself out of things. Yes, it might seem […]
We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Here is a quick rundown from last week: Purchase applications fell 18% week to week and […]
January’s pending home sales picked up right where they left off in 2022, posting the second consecutive month of increases, according to data released Monday by the National Association of Realtors (NAR). After posting a 2.5% month-over-month increase in December, the Pending Home Sales Index rose 8.1% month over month in January to a reading of 82.5. […]
Mortgage lender CRM and marketing automation solutions provider Insellerate has launched a new third party origination (TPO) solution for wholesale lenders, the company announced on Monday during ICE Experience. Insellerate TPO will provide account executive workflows, marketing content, pipeline management at the company and individual broker levels and other services, according to a statement from […]
The unlikely awards-season juggernaut “Everything Everywhere All at Once” marched on at the Screen Actors Guild Awards on Sunday, and even gathered stream with wins not just for best ensemble, Michelle Yeoh and Ke Huy Quan but also for Jamie Lee Curtis. The SAG Awards, often an Oscar preview, threw some curve balls into the […]
Last year, the top winners at the Screen Actors Guild Awards all corresponded exactly with the Academy Awards winners. Will Sunday’s SAGs offer the same preview? The 29th annual Screen Actors Guild Awards will begin at 8 p.m. EST Sunday and be streamed live on Netflix’s YouTube page. After the awards, presented by the film […]
Tom Cruise was honored for his nearly three decades of work as a producer, and “ Everything Everywhere All at Once ” solidified its status as the frontrunner for the best picture Oscar by taking the top prize at Saturday night’s Producers Guild of America Awards. “We love you! We love you!” another Oscar favorite […]
Angela Bassett won entertainer of the year at Saturday’s NAACP Image Awards on a night that also saw her take home an acting trophy for the television series “9-1-1.” The Bassett-led Marvel superhero sequel “Black Panther: Wakanda Forever” won best motion picture at the ceremony, which was broadcast live on BET from Pasadena, California. Viola […]
The creator of the Dilbert comic strip faced a backlash of cancellations Saturday while defending remarks describing people who are Black as members of “a hate group” from which white people should “get away.” Various media publishers across the U.S. denounced the comments by Dilbert creator Scott Adams as racist, hateful and discriminatory while saying […]
The French documentary On the Adamant (Sur l’Adamant) directed by Nicolas Philibert was named best film Saturday at this year’s Berlin International Film Festival. The film takes viewers onto a Seine barge in Paris that serves as a floating day care center for adults suffering from mental disorders. “That a documentary is awarded and celebrated, […]
While the homebuilders weren’t surprised by the better-than-estimated new home sales report released Friday, some people were a bit shocked. But the forward-looking purchase application data was getting better from Nov. 9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. Now, of course, that has all changed quickly. […]
It is crunch time in the housing industry. Sadly, for some organizations, that means there have been job losses and cutbacks that leave some former employees wondering, “What’s next?” Whether you’ve been affected by industry layoffs or you’re future-proofing your career, applying for new positions and interviewing can be daunting. Certain careers, like underwriting, come […]
10 years ago, HousingWire kicked off the first ever Rising Stars award and since then, the program has been showcasing massive talent in housing year after year. The award recognizes leaders and young talent who are moving markets forward through a variety of roles in the housing economy. And this year, HW Rising Stars is […]
Sixty Ukrainian ballet dancers fled Ukraine to escape Russia’s invasion over the past year. They ended up in the Netherlands, where they continue to dance together. Mariia Ulianovska has the story, narrated by Anna Rice. Camera: Kostiantyn Golubchyk details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022. […]
Ukrainians living in South Africa are marking one year since Russia’s invasion with a dance production titled ‘We Stand for Freedom.’ The performance, supported by the Desmond and Leah Tutu Legacy Foundation, draws parallels between racial oppression under apartheid and Moscow’s war on Ukraine. Vicky Stark meets some Ukrainians who fled the war in this […]
LenderLogix, a provider of mortgage automation software and application programming interfaces (APIs), has launched LiteSpeed, a white-label streamlined point-of-sale (POS) system that serves small- to mid-sized mortgage lenders. Patrick O’Brien, the founder and CEO of LenderLogix, said the product was designed in response to the need for a more efficient and cost-effective method of managing […]
A federal judge on Thursday handed singer R. Kelly a 20-year prison sentence for his convictions of child pornography and the enticement of minors for sex but said he will serve nearly all of the sentence simultaneously with a 30-year sentence imposed last year on racketeering charges. U.S. District Judge Harry Leinenweber also ordered that […]
Despite the closed title purchase order volume dropping 36% year over year and the number of closed refinance orders dropping 79% compared to the fourth quarter of 2021, Fidelity National Financial still managed to record a strong Q4 in 2022. “Our title business has continued to perform well despite the fall off in mortgage originations […]
The man who shot dead Grammy-winning rapper Nipsey Hussle on a Los Angeles street in 2019 was jailed for at least 60 years Wednesday. Eric Holder had not denied killing Hussle — a fast-rising star whose death sent shockwaves through the music world — but his lawyers argued it was an impulsive crime that took […]
Wells Fargo, the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I can’t provide any specifics but we announced in January strategic plans to create a more focused Home Lending business,” Tom Goyda, senior vice president of […]
A week after canceling its quarterly earnings results without explanation, Freddie Mac on Wednesday disclosed a net profit of $1.76 billion in the fourth quarter. That figure was a sequential gain on the $1.3 billion in net income recorded in the third quarter of 2022, though it represented a 36% decline from a year prior. […]
Leading property data and analytics company CoreLogic has acquired Roostify, a digital mortgage technology provider. “By integrating Roostify’s digital mortgage technology platform with CoreLogic’s robust data, analytics and workflow solutions, clients will gain critical information about borrowers and properties at the beginning of the loan process, saving both time and money,” CoreLogic said in a […]
It’s proving to be a brutal February for the mortgage industry, with mortgage demand falling for the third time in four weeks. At a time when purchase activity typically ramps up, the latest mortgage application data is showing that mortgage demand is dropping due to mortgage rates climbing back up. Mortgage applications decreased 13.3% for […]
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2023 HW Rising Stars are open now through Friday, February 24, 2023. Click here to nominate your organization. HousingWire’s Rising Stars award recognizes housing professionals 40 years old and younger who are making […]
The residential mortgage-backed securities (RMBS) market took a beating in 2022, nearly stalling as the year came to an end — on the heels of interest rates jumping more than 3 percentage points over the first half of 2022. That dramatic rate volatility wreaked havoc on spreads and RMBS deal execution — and created cash-flow challenges […]
California lender New American Funding has promoted Patty Arvielo to CEO, becoming co-CEOs with her husband Rick. Christy Bunce will succeed Arvielo as president. “Patty Arvielo had served as president of the company before being elevated to the co-CEO position but in effect has always conducted herself as co-CEO for NAF because of her and […]
Last June, the Federal Reserve said it wanted a housing reset, which meant it wanted higher mortgage rates to destroy the housing market. This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022. […]
Miami-based fintech provider LoanPASS has integrated with ICE Mortgage Technology, a division of global data, technology, and market infrastructure provider Intercontinental Exchange, Inc. (ICE). The goal of the integration is to allow mutual clients to access LoanPASS’ products and pricing engine (PPE) via ICE Mortgage Technology’s end-to-end digital lending platform Encompass, according to a statement […]
The industry is buzzing with conversations around appraisal modernization — for good reason. Appraisal modernization reduces origination cycle time, bolsters appraiser capacity and helps lenders deliver a more seamless and transparent borrower experience. It also holds great promise in attracting a new generation of bright, talented appraisers who may have otherwise not given the mortgage […]
By Nassar H. Paydar, Assistant Secretary, Postsecondary Education In September 2021, the Department announced it was conducting a review of regulations related to First Amendment freedoms, including religious freedoms, which impose additional requirements on its higher education institutional grant recipients. The Department’s review of these regulations focused on ensuring several key elements, including First Amendment protections, […]
The mortgage industry started 2023 with optimism due to an increase in housing activity. However, the celebrations may have to wait, as the fundamentals point to further weaknesses ahead of an expected recession in the second quarter of this year, according to Fannie Mae. “Recent data have been stronger than expected in ways that we […]
Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. The deal will offload an FoA subsidiary division that offers residential real estate investment loans. Roc Capital is expected to pay FOA an “aggregate purchase price” over a […]
Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Here is a quick rundown from last week: Purchase applications fell 6% weekly as the market digested […]
Two 16th-century sculptures, jewels of French Renaissance art, have been on display since 1908 at New York’s Metropolitan Museum of Art. But thanks to modern technology and an unusual agreement, precise 3D copies will be made and installed in the French castle where the originals long resided. The facsimiles plan is the fruit of a […]
Antiwar German movie “All Quiet on the Western Front” won seven prizes, including best picture, at the British Academy Film Awards on Sunday, building the somber drama’s momentum as awards season rolls toward its climax at next month’s Oscars. Irish tragicomedy “The Banshees of Inisherin” and rock biopic “Elvis” took four prizes each. “All Quiet,” […]