The late actress Nichelle Nichols, best known as Lieutenant Uhura on “Star Trek,” will become the latest member of the 1960s television series to be memorialized by having some of her earthly remains flown into space. Nichols, who died July 30 at age 89, is credited with helping shatter racial stereotypes and redefining Hollywood roles […]
California real estate startup Reali is shutting down, with plans to lay off most of its employees on Sept. 9. The firm is the latest to fall victim to rising mortgage rates and a drop in home sales. The San Mateo, California startup cited “the challenging real estate and financial market conditions and unfavorable capital-raising […]
Big name entertainment providers like Netflix, Showmax and Paramount have been meeting African content creators this week at the Fame Week Africa conference in South Africa. The three-day conference, which ended Friday, was billed as the continent’s premier business conference for the creative and cultural sectors. A local government official who declined to be named […]
Today, the U.S. Department of Education announced 11 awards totaling over $29 million to 10 state educational agencies (SEAs) under the 2022 Competitive Grants for State Assessments (CGSA) program, underscoring the Biden-Harris Administration’s ongoing efforts to enhance the quality of educational supports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. […]
Restoring price stability will cause some pain now, but will forestall the greater pain of higher inflation, Federal Reserve Chairman Jerome Powell said in a speech on Friday. Powell, speaking at an economic policy symposium in Jackson Hole, Wyoming, made it clear that the Federal Open Market Committee (FOMC) would continue to be tightly focused […]
Christie’s announced plans on Thursday to auction the art collection of late Microsoft co-founder Paul Allen, which it estimated to be worth more than $1 billion. The November sale of more than 150 pieces spanning 500 years of art will be “the largest and most exceptional art auction in history,” Christie’s said in a statement. […]
This week’s HW+ member spotlight features Neena Vlamis, CEO, President and founder of A and N Mortgage, which is headquartered in Chicago. HousingWire: What is your current favorite HW+ article and why? Neena Vlamis: HousingWire, I love the staff! Until I was recently asked to be on a webinar, I did not have my eyes wide open. Now I am a member […]
African Americans have been involved in filmmaking since the early days of the movie industry. A new exhibition at the Academy Museum of Motion Pictures explores that vibrant history, much of it forgotten. Mike O’Sullivan reports from Los Angeles. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Homepoint is in a tough spot. Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy […]
South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. The terms of the deal were not disclosed. The acquisition is another step to boost its sales amid shrinking loan origination volumes. The company announced new hires in the sales executive team in early August. With the […]
Today, the Department of Education released a back-to-school checklist for parents and families. The checklist, part of the Department’s updated back-to-school resource site, will help parents, caregivers, and families engage with local school and district leaders about how they are supporting students as they recover from the impacts of the pandemic. details ⇒ BusinessMediaguide.Com portal […]
Volatile mortgage rates jumped back to the mid-5% level this week, slowing down the housing market, according to the latest survey from Freddie Mac. The 30-year fixed-rate mortgage increased 42 basis points this week to an average of 5.55%, up from last week’s 5.13%. A year ago this time, rates averaged 2.87%. The index compiles purchase […]
How will President Biden’s executive action to erase $10,000 in federal student loan debt affect homeownership? While industry watchers don’t expect the debt forgiveness to move the needle in a significant way, it could have a net positive impact on homeownership long term. About 45% of borrowers, or almost 20 million people, would have their […]
It has been a nonstop year for the housing industry. From sky-high home prices to fluctuating mortgage rates and staffing changes, it is no wonder that Realtors, loan officers and other industry professionals are feeling burnt out. Not to worry, there are panels at HW Annual to re-ignite your passion for the housing industry and […]
Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. The Pontiac, Michigan-based lender has started to offer standalone and piggyback options, as fast-rising home values allow homeowners to tap the equity in their houses to pay debts, expenses or investments. UWM’s products announced […]
Today, the U.S. Department of Education (Department) announced a final extension of the pause on student loan repayment, interest, and collections through December 31, 2022. Borrowers should plan to resume payments in January 2023. While the economy continues to improve, COVID cases remain at an elevated level, and the President has made clear that pandemic-related […]
Homepoint has launched a new program to reduce rates for borrowers with lower income, the wholesale lender announced Wednesday. The initiative comes after the company reported a loss in the second quarter of 2022 amid a price war, mainly from its wholesale-only rival United Wholesale Mortgage (UWM). Homepoint is offering a 75 basis point pricing bonus for conforming […]
Demand for mortgage loans continued to decline last week, remaining at the lowest level in two decades, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, fell 1.2% for the week ending Aug. 19, compared to the previous week. It was also down 63% compared to the same week […]
Today, the U.S. Department of Education (Department) announced that it has approved more than $10 billion in debt relief for over 175,000 borrowers in 10 months through the Public Service Loan Forgiveness (PSLF) program. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced the resolution of a complaint of anti-Semitic harassment filed against Kyrene School District #28 in Arizona. OCR determined that the district violated Title VI of the Civil Rights Act of 1964 and its implementing regulations by failing to respond appropriately to notice of […]
It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. “Housing remains clearly on the downtrend — and has been for several months now — due to the […]
If you are joining us at HW Annual Oct. 3-5, make the most out of your trip by also joining us for the Marketing Leaders Success Summit. Kicking off HW Annual, this summit will be packed with the marketing insider tips and tricks you need to take your business to the next level. Below are […]
Censors have altered the ending of the recent animated film “Minions: The Rise of Gru” for its domestic release in China, social media users across the country noticed over the weekend. The editing is yet another example of Chinese authorities editing a popular Hollywood film to make it more politically correct, leading some viewers to […]
July was another rough month for homebuilders, with mortgage applications for new home purchases dropping 16.1% from a year ago, according to the latest Mortgage Bankers Association‘s builder application survey. Compared to June 2022, applications decreased by 7%. “Mortgage applications to purchase newly built homes weakened in July, as prospective homebuyers continue to delay decisions […]
A Maryland couple is suing appraisal firm 20/20 Valuations, its appraiser and mortgage lender loanDepot after their home was appraised at a far lower value than it was a few months later when they removed indications that a Black family lived there. Nathan Connolly and Shani Mott, in a suit filed in Maryland District Court […]
Well, here we are rounding out another spring and summer market. Kudos to the Loan Officers who have found a way to transition from the refinance boom of 2020 — 2021 and into the purchase market of 2022. As we begin to finish the third quarter, it is important to take some time to reflect, […]
Friends and fellow authors spoke out on Salman Rushdie’s behalf during a rally Friday on the steps of the main branch of the New York Public Library, one week after he was attacked onstage in the western part of the state and hospitalized with stab wounds. Rushdie’s condition has improved, and, according to his literary […]
Not only was HW Annual designed to bring you the latest insights on how to navigate today’s fast-changing market, but also, it was created with community and collaboration in mind. Hopefully, you are as excited to join together with everyone in the housing industry as the HousingWire team is. If you still haven’t taken advantage […]
The Victoria and Albert Museum in London is hosting an exhibition of African fashion that organizers say is the largest of its kind. The landmark exhibit — named simply “Africa Fashion” — promises to set a new standard on how the subject is portrayed in museums and art galleries. For VOA, Pasi Myohanen reports from […]
Ginnie Mae’s recent announcement regarding their Single-Family Applicant and Issuer Financial Eligibility Requirements represents a major step forward in reducing a potential systemic risk to the housing financial system. Since the 2008 financial crisis, a significant structural change has taken place which over time threatens the long-term stability of housing finance. The growth in the number […]
Today, the U.S. Department of Education announced that colleges currently accredited by the Accrediting Council for Independent Colleges and Schools (ACICS) will now be required to fulfill additional operating conditions for continued participation in the federal student aid programs. This requirement follows U.S. Deputy Secretary of Education Cindy Marten’s final decision to terminate federal recognition […]
Today, the U.S. Department of Education is posting a Notice Inviting Applications for the Project Prevent Grant Program, which will award more than $6 million to local educational agencies (LEAs) impacted by community violence. As part of the Biden-Harris administration’s broader commitment to school safety and addressing youth mental health the Department will provide schools […]
Ginnie Mae is not budging on its proposal to put a 250% risk weight on gross mortgage servicing rights. The requirement would be for nonbanks, who make up the bulk of the Federal Housing Administration market. Ginnie Mae specifically called out those institutions that are not “regulated by a federal prudential regulator” or state-chartered in […]
U.S. Secretary of Education Miguel Cardona today announced $51.7 million in 189 new grant awards to institutions of higher education across the United States as part of the Ronald E. McNair Postbaccalaureate Achievement Program (McNair). The program provides grants to universities and colleges for projects designed to provide disadvantaged college students effective preparation for doctoral […]
After a July doldrums during which there were no agency-eligible private-label securitizations (PLS) backed by mortgages on residential investment properties, the ice was broken this month with a new offering sponsored by Blue River Mortgage III LLC. The prime PLS offering, dubbed GCAT 2022-INV3, is backed by a pool of 1,259 mortgages valued at $423 million. More than […]
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net loss of $82 on each loan they originated in the second quarter. It’s a significant drop from the first quarter, when lenders saw a gain of $223 per loan, according to the Mortgage Bankers Association (MBA). The MBA attributed the losses to […]
Purchase mortgage rates declined this week on the news that inflation appears to have peaked and appear to be stabilizing. The 30-year fixed-rate mortgage decreased this week to an average of 5.13%, down from last week’s 5.22%, according to the latest purchase mortgage survey from Freddie Mac. A year ago this time, rates averaged 2.86%. The […]
Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae, Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.” Tinman Marketplace, as it has been dubbed, will be powered by Palantir’s Foundry […]
United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It’s a complementary product to the wholesale lender’s “Game On” initiative, a cut-rate pricing strategy devised to grow market […]
Bill Lyons, founder and CEO of Griffin Funding and 2020 HousingWire Vanguard Honoree, sat down with HousingWire to discuss his company’s repeat ranking on the Inc. 5,000 list, along with his upcoming appearance at HW Annual Oct. 3-5. Don’t miss more of Lyon’s great insights when he takes the stage Oct. 4 at the Vanguard […]
By: Rebecca Standridge, Program Specialist for ESE Curriculum and veteran Special Education Teacher in Marion County, Florida As a child, I dreamed of growing up and becoming a teacher; practicing reading aloud with my baby dolls and stuffed animals and was always the first to volunteer to help the teacher grade papers. I am now […]
Mortgage lender Angel Oak Home Loans has implemented SimpleNexus‘ all-in-one mortgage app to streamline its loan origination process. The Atlanta mortgage lender, which offers agency and non-qualified mortgage (non-QM) products, will implement the tech firm’s Nexus Origination and Nexus Engagement tools. A customized loan application developed for Angel Oak Home Loans will support both agency […]
The Federal Housing Finance Agency (FHFA) and Ginnie Mae are walking back some of the more controversial proposed eligibility requirements for sellers, servicers and issuers they oversee. But the agencies will not wipe out the requirements entirely. An initially proposed 200 basis point hedging requirement will instead be 50 basis points for both agencies. Institutions […]
The Community Home Lenders Association and the Community Mortgage Lenders of America, two Washington, D.C. lobby groups representing smaller mortgage lenders, will join forces. The new group, the Community Home Lenders of America, will conserve CHLA’s acronym. The group will operate out of one office and merge assets. Several former congressional aides and a former […]
Inco-Check is rebranding to QC Ally, the company announced Wednesday. Inco-Check, a provider of QC and audit solutions, was founded in 2000 and acquired in May by Narrow Gauge Capital. “While celebrating Inco-Check’s legacy of high-quality audit services, this new branding reemphasizes our shared goals and collaboration with our client partners to enhance their business,” […]