Mortgage applications for the week ending Sept. 30 decreased 14.2% from the prior week, according to the latest survey from the Mortgage Bankers Association. On an unadjusted basis, the mortgage composite index decreased 14% compared with the previous week. The refinance index decreased 18% from the previous week and was 86% lower than the same […]
The Federal Housing Administration (FHA) expects to issue in the next 90 days a request for information from the public to update its 203K program, a step to address the current affordability crisis by boosting the supply of homes. “We’re looking at revamping the 203k program,” Julienne Joseph, deputy assistant secretary in the Office of […]
The Federal Housing Administration (FHA) on Tuesday issued a request for feedback from the public on how it can increase access to small balance mortgages through its single-family mortgage insurance programs. The Department of Housing and Urban Development (HUD) back in April said it would be taking a hard look at small balance mortgages, which […]
Due to heavy financial losses and shrinking production, loanDepot has reduced its funding capacity by $1 billion, laid off thousands of workers and exited the wholesale lending business. But that hasn’t stopped the nonbank lender from issuing pay raises to its top executives. In a filing submitted to the Securities and Exchange Commission last week, […]
Loretta Lynn, the Kentucky coal miner’s daughter whose frank songs about life and love as a woman in Appalachia pulled her out of poverty and made her a pillar of country music, has died. She was 90. In a statement provided to The Associated Press, Lynn’s family said she died Tuesday at her home in […]
The shift from a refinance boom to a purchase market will leave some mortgage lenders and loan officers with only two options: “Consolidate or exit the business,” according to Mary Ann McGarry, Guild Mortgage’s chief executive officer. Meanwhile, McGarry said Guild is well positioned to acquire these assets but will be very patient in closing […]
Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. The average home price is down 2% ($8,800) from its June peak nationally as we enter […]
Rocket Companies, the parent company of America’s largest mortgage lender, announced that longtime Chief Financial Officer Julie Booth and General Counsel Angelo Vitale are retiring. In a statement issued Monday, Rocket said both Booth and Vitale will remain with the company in strategic advisory roles. Booth’s retirement is effective November 15. Brian Brown, Rocket’s chief […]
Native American actress and activist Sacheen Littlefeather, who declined the best-actor award on behalf of Marlon Brando during an Oscars protest in 1973, has died aged 75, the motion picture Academy said on Monday. Littlefeather, who the Hollywood Reporter said died at her home in California on Sunday surrounded by loved ones, was catapulted to […]
Today, the U.S. Department of Education (Department) is releasing Notices Inviting Applications for two grant programs to increase access to mental health services for students and young people, totaling $280 million, that were funded through the Bipartisan Safer Communities Act (BSCA) and the Fiscal Year 2022 Omnibus Appropriations. The BSCA provided historic funding to help […]
Kim Kardashian has agreed to settle charges of unlawfully touting a crypto security and to pay $1.26 million in penalties, disgorgement and interest, the U.S. Securities and Exchange Commission said on Monday. The SEC said in a statement that reality television star and influencer Kardashian failed to disclose that she was paid $250,000 to publish […]
U.S. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
The remains of dozens of Indigenous Maori and Moriori people were officially received at New Zealand’s national museum in Wellington Sunday, completing a repatriation process from Austria, where the bones have resided for more than 130 years. The repatriation “powhiri,” or welcoming ceremony, in bitterly cold, wet conditions at Te Papa concluded when the remains […]
The nearly 400-year-old-year Passion play performed by the people of the German alpine village of Oberammergau comes to a close after a nearly five-month run, with viewers saying this year was especially meaningful as the play was delayed by two years by the COVID-19 pandemic. Villagers kept their vow to perform the play every 10 […]
This year’s Nobel Prize season approaches as Russia’s invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster. The secretive Nobel committees never hint who will win the prizes in medicine, physics, chemistry, literature, economics or peace. It’s anyone’s guess who might win the awards […]
What do the next 15-18 months look like for the broker channel? According to United Wholesale Mortgage (UWM) CEO Mat Ishbia, who rallied brokers at the Association of Independent Mortgage Experts (AIME) Fuse conference in Las Vegas on Saturday, the next year and a half will be a proving ground that will level set the market for […]
United Wholesale Mortgage (UWM) CEO Mat Ishbia announced three initiatives for brokers at AIME Fuse on Saturday. The most impactful may be an alternative to the traditional lender title process, called TRAC. Ishbia said his company has hired attorneys to review title and closing docs, make sure the title is clear and then help facilitate […]
While European Union nations are still mulling a cap on gas prices, some businesses are more in a hurry for solutions to the continent’s energy crisis. In Brussels, the epicenter of the EU, restaurant owners have imagined how a future without gas and electricity would look like for gourmets. The guests at the dinner served […]
This year’s Nobel Prize season approaches as Russia’s invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster. The secretive Nobel committees never hint who will win the prizes in medicine, physics, chemistry, literature, economics or peace. It’s anyone’s guess who might win the awards […]
Willie Newman ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?w=1024″ width=”1200″ height=”706″ src=”https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?w=1024″ alt=”HW+ Willie Newman” class=”wp-image-329916″ srcset=”https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png 1200w, https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?resize=150,88 150w, https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?resize=300,177 300w, https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?resize=768,452 768w, https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?resize=1024,602 1024w, https://www.housingwire.com/wp-content/uploads/2021/11/HW-Willie-Newman.png?resize=600,353 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>Willie Newman, president and CEO of wholesale lender Homepoint Michigan-based lender Homepoint leadership effectively “reset the organization” amid the mortgage downturn, Willie Newman, the CEO and president, told […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced the resolution of a complaint of racial harassment filed against Peoria Unified School District in Arizona. OCR determined that the district failed to address harassment of students on the basis of race, color, and national origin, in violation of Title VI of the […]
A federal judge has ruled in favor of a coalition of community housing groups against the Consumer Financial Protection Bureau (CFPB), vacating part of a Trump-era rule that impacted the reporting obligations of certain mortgage lenders. The D.C. District Court found that the CFPB, under Trump appointee Kathy Kraninger, acted in an “arbitrary and capricious” […]
Irpin, a city in the Kyiv region, was under Russian occupation in March. Officials say over 70% of its infrastructure was damaged. When the Russians retreated, several residents started returning from abroad to help rebuild their city. Anna Kosstutschenko has the story. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
The past and future of film mingle like a pair of moviegoers huddled in debate outside a movie theater at the New York Film Festival, which on Friday launches its 60th edition with the premiere of Noah Baumbach’s Don DeLillo adaptation “White Noise.” In those six decades, the Lincoln Center festival has been arguably the […]
Comedian Trevor Noah, host of The Daily Show on Comedy Central, said he was going to leave the program after hosting it for seven years, indicating he wanted to dedicate more time to stand-up comedy. The 38-year-old comedian — who was born in Johannesburg, South Africa, and moved to the United States in 2011 — […]
In August, the Biden-Harris Administration announced its plan to cancel up to $20,000 in student debt for eligible borrowers to give working and middle-class families more breathing room as they recover from the pandemic. Today, the U.S. Department of Education (Department) released its estimate of the costs of the Biden-Harris Administration’s Student Debt Relief. The […]
Nearly six months after CEO Hugh Frater announced his resignation, Fannie Mae has found a permanent replacement. Priscilla Almodovar, the president and CEO of national housing nonprofit Enterprise Community Partners, will take the helm of the mortgage finance behemoth on Dec. 5. David Benson will continue to serve as interim CEO until Almodovar takes the […]
By: Heather Ward, Special Assistant, Office of Postsecondary Education If you need suicide or mental health-related crisis support, or are worried about someone else, please call or text 988 or visit the National Suicide Prevention Lifeline’s chat to connect with a trained crisis counselor. As U.S. Department of Education officials have traveled the country visiting […]
Social media app TikTok is expected to reach 1.8 billion users by the end of 2022 – will you be one of them? Many mortgage professionals are turning to the platform as a way to connect with prospective borrowers and educate them on mortgage, as well as market themselves. We spoke to UMortgage Branch Manager […]
By: Amanda Zepeda My first teachers were my parents. Both grew up in immigrant households in the vibrant city of Los Angeles. They were Chicano latch-key-kids of the 1970s. My father began working at a young age, supplementing the family’s income with a paper route before school and gardening work with my grandfather on the […]
Non-QM real estate investment trust Angel Oak Mortgage Inc. on Wednesday announced the departure of CEO Robert Williams. The company appointed Sreeni Prabhu, a managing partner at affiliate Angel Oak Capital Advisors, as the new president and CEO. The leadership shakeup comes after two consecutive quarters of financial losses. Angel Oak Mortgage Inc., which went […]
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders. A year ago […]
The entire agenda at HousingWire Annual is jam-packed with informative speakers and invigorating panels. Included in this agenda are also four, breakout sessions that cover different key parts of the housing sector. In these 20-minute sessions, attendees will walk away with tangible and actionable information from leaders at mortgage, valuation, real estate and title companies. […]
The U.S. Department of Education announced awards totaling nearly $1 billion through the Bipartisan Safer Communities Act (BSCA). The Stronger Connections grants will help schools provide all students with safe and supportive learning opportunities and environments that are critical for their success. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website […]
This week’s HW+ member spotlight features Tammy Richards, CEO at LendArch. She has held leadership positions at Bank of America and Caliber Home Loans, and most recently served as chief operating officer at loanDepot. Below, Richards answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why? Tammy Richards: I love the research and data. […]
Last month, President Joe Biden announced the federal government would forgive hundreds of billions of dollars of student loans. I believe this initiative is one of the most consequential administrative actions for housing in a generation. It could make homeownership accessible for millions of new homebuyers. The student loan debt forgiveness decision has provoked a broad range of […]
Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility. The company issued pink slips to 75 employees last week, about 20% of its workforce, citing the “current economic environment that has challenged the entire mortgage market.” “The reduction was […]
Today, during the National Digital Equity Summit hosted by the U.S. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% for the week ending September 23, compared to the previous week. It was also down 66% compared to the same week […]
MAXEX, a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. The increasing demand for non-QM loans (more broadly defined as nonprime) has run up against market volatility, as mortgage rates have doubled since late last year. That […]
The Federal Housing Finance Agency (FHFA) Office of the Inspector General on Wednesday said the agency has not adequately defined the rules and scope of its executive compensation practices. The OIG concluded that the agency should update its rules and procedures and determine if it has enough staff to vet executive compensation decisions. The evaluation […]
Pennymac Financial Services named longtime industry veteran Jerry Halbrook as its new chief mortgage innovation officer. Halbrook, who announced his new position via LinkedIn on Monday, brings more than 25 years of experience in mortgages. The company didn’t provide comment regarding Halbrook’s hire. The executive was most recently chief executive officer at mortgage marketing firm […]
Advisory and brokerage firm Prestwick Mortgage Group is out with three new mortgage-servicing rights (MSR) offerings for agency loan pools valued in total at $2.6 billion. One of those MSR offerings involves a Ginnie Mae loan pool of 7,591 mortgages with valued at $2 billion based on the unpaid principal balance. The package is being marketed with […]
Despite steep financial losses, mortgage tech company Blend continues to add some of America’s largest mortgage lenders to its client roster. On Tuesday, the fintech and PNC Bank announced a partnership that allows customers to digitally apply for a mortgage and import bank/payroll information directly into their application. Once an application is submitted, customers have […]
Fannie Mae on Tuesday launched a pilot program to help renters of multifamily properties build their credit histories and improve their credit scores. Effective Sept. 27, eligible multifamily property owners can share rent payment data through a vendor network to TransUnion, Equifax, and Experian in the renter’s credit profile. “Around 20% of the U.S. population […]