A Spanish court on Tuesday formally ordered Colombian superstar Shakira to stand trial on accusations that she failed to pay $14.31 million in income taxes, a court document released on Tuesday showed. The ‘Hips Don’t Lie’ singer, 45, whose full name is Shakira Isabel Mebarak Ripoll, rejected in July a deal to settle the case, […]
Today, the U.S. Department of Education (Department) is announcing new awards to further address the teacher shortage and help ensure long-term investments in teacher pipeline and development programs across the country. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
When Federal Reserve Chairman Jerome Powell talked about a housing reset in June, it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting, held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed. However, a housing reset […]
The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022. August saw 20,300 foreclosure starts, a 15% rise from July, but remained 44% below August 2019, holding […]
Higher mortgage rates, lower volume and fiercer competition forced BayFirst National Bank to shut down its residential mortgage business and lay off staffers. BayFirst Financial Corp., the parent company of BayFirst National Bank, announced last week that its board of directors started the process of closing the bank’s nationwide network of residential mortgage loan production […]
These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. Applications dropped 7% in the same period. The national inflation rate eclipsed 9% in June. Things have changed even […]
Kenyan marathon runner Eliud Kipchoge is spurring young athletes to follow in his footsteps after breaking his own world record Sunday in Berlin. Cheers erupted from the crowd Sunday at Nairobi’s Karura Forest as they watched Kipchoge race on TV. The watch party followed an amateur marathon organized by the Friends of Karura Forest to […]
Rihanna will take center stage at February’s Super Bowl halftime show. The singer, who declined to perform in the 2019 Super Bowl halftime show out of solidarity with Colin Kaepernick, will headline the 2023 Super Bowl, the NFL announced Sunday along with Jay-Z’s Roc Nation and Apple Music. Rihanna posted an image on Instagram of […]
Haitian Italian designer Stella Jean returned to the Milan runway after a two-year hiatus with a tour de force that highlighted the talents of 10 new designers of color whose design history is tied to Italy. Jean pledged in 2020 not to return to Milan Fashion Week, which opened Wednesday, until she was not the […]
This day, this match, had to come, of course, for Roger Federer, and for tennis, just as it inevitably must for every athlete in every sport. Federer bid adieu Friday night with one last contest before he heads into retirement at age 41 after a superlative career that included 20 Grand Slam titles and a […]
Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s. Thrive’s […]
Caliber Home Loans, owned by publicly-traded Rithm Capital, issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four rounds of layoffs this year, multiple sources told HousingWire. An internal document viewed by HousingWire details which jobs were eliminated […]
Last year, in a Housing Wire op-ed, Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by Jesse Van Tol advocating for extending CRA to IMBs. And HousingWire […]
Today, in recognition of National Adult Education and Family Literacy Week, the U.S. Department of Education (Department) is proud to launch Stage 1 of the Future Finder Challenge, a $1 million challenge to reimagine career navigation for adult learners. The Department’s Office of Career, Technical, and Adult Education (OCTAE) invites innovators to build digital tools that […]
You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range. If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in […]
Freddie Mac is launching its 10th credit-risk transfer transaction of the year via its Structured Agency Credit Risk (STACR) program, bringing the total note offerings through its two flagship STACR series programs to $12.8 billion so far in 2022. The new credit risk transfer (CRT) offering, STACR 2022-DNA7, outlined in a presale report by Kroll Bond Rating […]
Mortgage rates house, resize ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?w=1024″ width=”1200″ height=”800″ src=”https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?w=1024″ alt=”resize” class=”wp-image-264916″ srcset=”https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg 1200w, https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?resize=150,100 150w, https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?resize=300,200 300w, https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?resize=768,512 768w, https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?resize=1024,683 1024w, https://www.housingwire.com/wp-content/uploads/2020/07/AdobeStock_7907098.jpeg?resize=600,400 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to […]
A movie portraying an all-female warrior unit that centuries ago defended the West African kingdom of Dahomey, what is today the country of Benin, is drawing both praise and criticism. VOA’s Penelope Poulou reports, “The Woman King” has an all-black and mostly female cast, a first for a major Hollywood motion picture. But some critics […]
Haley Parker is the area business development manager at Fairway Independent Mortgage Corporation. She sat down with HousingWire to share her excitement for the upcoming HousingWire Annual conference and her role on the welcome committee. HousingWire: What are you most looking forward to at HW Annual 2022? Haley Parker: Networking and connecting with Industry friends! […]
Following grumblings from some servicers and industry trade groups, Ginnie Mae on Tuesday issued a statement that most nonbank mortgage companies it does business with will be able to comply with its upcoming — and controversial — capital rule requirements. “While the overwhelming majority of Ginnie Mae issuers are compliant with these requirements today, we will […]
Today, the U.S. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Fannie Mae has launched its ninth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $$591 million note offering backed by a reference pool of single-family mortgages. The transaction, CAS 2022-RO9, involves a reference pool of 96,000 single-family mortgages with an outstanding principal balance of $29.3 billion. The loans in the reference pool have loan-to-value ratios […]
New York-based Unlock Technologies, a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade, have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). The PLS transaction, called UNLOK 2022-1, involves $144 million of unrated senior Class A notes, $18 million of mezzanine Class B securities and $18 […]
Today the National Association of Realtors reported that existing home sales fell once again to 4.80 million. Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have […]
Economists at Fannie Mae say the Federal Reserve‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The agency’s Economic and Strategic Research (ESR) Group forecasts the total home sales to decline 17.2% […]
Are you on TikTok yet? Your future borrowers could be – the social media app is expected to reach 1.8 billion users by the end of 2022, with many users falling under the Millennial and Gen Z umbrellas. As more of these younger borrowers begin to show interest in buying a home, it’s a great […]
Today, the U.S. Department of Education (Department) announced Project School Emergency Response to Violence (Project SERV) grants to two additional Historically Black Colleges and Universities (HBCUs) that experienced bomb threats earlier this year. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?w=1024″ width=”1200″ height=”700″ src=”https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?w=1024″ alt=”1200x700_forsale-empty-neighborhood” class=”wp-image-363570″ srcset=”https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png 1200w, https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?resize=150,88 150w, https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?resize=300,175 300w, https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?resize=768,448 768w, https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?resize=1024,597 1024w, https://www.housingwire.com/wp-content/uploads/2022/09/1200x700_forsale-empty-neighborhood.png?resize=600,350 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>Mortgage rates in the 6% range have frozen the housing market, forcing […]
The Federal Trade Commission (FTC) and the California Department of Financial Protection and Innovation (DFPI) secured a court order that temporarily shut down the operations and froze the assets of Home Matters USA, Academy Home Services, Atlantic Pacific Service Group, Golden Home Services America and its owners, Dominic Ahiga and Roger Scott Dyer. Following a […]
Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24 million housing […]
Atlanta-based non-QM lender Angel Oak Cos., through its mortgage-backed securities conduit Angel Mortgage Trust, has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. The average coupon is 5% for the pool of 795 non-qualified (non-QM) mortgages backing the current […]
Thank you! First of all: that marching band looks awesome. It’s a joy to be here in Tennessee. You’re known as the “Volunteer State” for a reason. Tennesseans stepped up to help – you helped our country, you volunteered. And that’s what Tennesseans are all about. I can’t tell you how thrilled I am to […]
Delray Beach, Florida-based mortgage lender ResMac, Inc., like many others, has trimmed its workforce so its cost structure is in line with reduced origination volume. The company is focused on expanding beyond residential loans amid a price war and surging rates. To grow in the coming years, it seeks to raise capital. It’s all part […]
New home purchase applications in August were down year over year but rebounded after four consecutive months of declines despite higher mortgage rates, declining homebuilder sentiment and looming economic uncertainty, the Mortgage Bankers Association (MBA) said. The MBA’s builder application survey (BAS) data for August showed mortgage applications for new home purchases declined 10.1% from […]
Servicers’ forbearance rate declined in August, excepting for Ginnie Mae loans, the Mortgage Bankers Association (MBA) reported Monday. The trade group expects pressure in the coming months if the unemployment rate increases. The total number of loans in forbearance decreased two basis points from the previous month to 0.72% of the servicers’ total portfolio volume in August, positive news […]
A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. Top lenders who were able to quickly build capacity and take advantage of near-zero interest rates were rewarded with an increase in market share. Those trends largely continued in 2021, even though refi business slowed […]
The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Tech Trendsetters award are now open through Friday, Sept. 23, 2022. Click here to nominate someone you know — it can even be you! As tech innovation continues to transform the housing ecosystem, one sector […]
On Tuesday, Sep. 20, 2022, U.S. Secretary of Education Miguel Cardona will travel to Orangeburg, South Carolina, with Vice President Kamala Harris to meet with college students. They will highlight the importance of National Voter Registration Day and host a conversation with students about mental health and issues important to young Americans. details ⇒ BusinessMediaguide.Com […]
Select Portfolio Servicing Inc. (SPS) has struck a deal to acquire certain assets of Texas-based Rushmore Loan Management Services LLC. The deal, announced Monday, will result in Salt Lake City-based SPS acquiring Rushmore’s servicing personnel. The transaction is expected to close in the fourth quarter of 2022, subject to regulatory approvals. Terms of the deal were not […]
Since the announcement of the new capital rule, Ginnie Mae has been on the receiving end of a lot of backlash from industry and the analysts who associate with the mortgage banking marketplace. Despite significant, thoughtful feedback to Ginnie Mae about the impacts of some of their proposals, it seems that Ginnie Mae simply turned […]
Australia is investigating claims by First Nations groups that mining and manufacturing industries are threatening significant cultural sites. Indigenous settlement of Australia dates back an estimated 65,000 years. This vast history is documented in ancient songs, stories, dance and art, but development threatens part of the culture. The federal government has appointed an independent investigator […]
President Joe Biden met Friday with family members of WNBA star Brittney Griner and another American detained in Russia, Paul Whelan, the first face-to-face encounter that the president has had with the relatives. In a statement after the meetings, which were held separately, White House press secretary Karine Jean-Pierre said Biden stressed to the families […]
The Women of Influence award honors women who have made a significant contribution to the housing industry each year. Honorees from both 2022 and 2021 are making a splash at this year’s HW Annual in Scottsdale, Arizona from Oct. 3-5. They will take the stage to share insights, advice and stories that attendees can take […]
Former Education Secretary Arne Duncan said that “great schools don’t happen by chance. Great schools happen by design.” It takes hard work & dedication at all levels of a school community – from students, teachers, staff, administrators, & families – to make a school truly shine. Today, we honor 297 schools for their exemplary teaching […]
Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Dubbed the “Inflation Buster” program, Rocket aims to give borrowers a reprieve to combat high inflation and affordability challenges, the company said in a statement Friday. Rocket Mortgage […]