Swimming’s world governing body FINA on Sunday voted to restrict the participation of transgender athletes in elite women’s competitions and create a working group to establish an “open” category for them in some events as part of its new policy. Transgender rights has become a major talking point as sports seek to balance inclusivity while […]
U.S. Secretary of Education Miguel Cardona issued the following statement regarding COVID-19 vaccine eligibility for children ages 5 and younger: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
American actor and director Liev Schreiber says events in Ukraine didn’t impact him much before the Russian invasion. Due to the war, he became deeply involved in charity work and rediscovered the Ukrainian part of his heritage. VOA’s Tatiana Vorozhko reports. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Despite the ongoing war in Ukraine, couples there continue to get married. For many, the war itself prompted them to officially tie the knot – especially military couples. At least one jewelry store provides military couples with free wedding bands; wedding ceremonies are often held online, at times, literally from the front lines. Anna Kosstutschenko […]
After two days of deliberations in which they reached verdicts on nearly all of the questions put before them, jurors in a civil trial who were deciding on sexual abuse allegations against Bill Cosby will have to start from scratch on Monday. By the end of the court day Friday, the Los Angeles County jury […]
The price of bitcoin fell below $20,000 Saturday for the first time since late 2020, in a fresh sign that the sell-off in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping by as much as 9% to less than $19,000 and hovering around that mark, according to the […]
A gnawing uncertainty hung over the Yellowstone National Park gateway town of Gardiner this week following unprecedented flooding that shut down one of America’s most beloved natural attractions and swept away roads, bridges and homes. Gardiner itself escaped the flooding but briefly became home to hundreds of park visitors stranded when the road leading into […]
For many Hong Kongers, their city has always been distinct from China. Government, laws, language, schooling, cuisine, culture, outlook — you name it, all different. And that sense, coupled with continuing political changes, propelled many Hong Kongers to emigrate after the 2019 pro-democracy protests when Beijing implemented the far-reaching Hong Kong version of China’s National […]
A banking regulatory agency asked whether the Consumer Financial Protection Bureau should be involved in deciding whether to green light bank mergers. The industry’s answer? A resounding “No.” Trade groups such as the American Bankers Association and the Independent Community Bankers of America, say that doing so would be beyond the scope of the CFPB, […]
Mortgage industry stakeholders say a new 50 basis point fee on some Fannie Mae and Freddie Mac securities runs counter to the premise of a uniform mortgage backed security. It’s a “money grab,” said one industry analyst, who requested anonymity to stay on good terms with the government sponsored enterprises, who together back the majority […]
It’s a tough time to be a loan officer. Refinance activity is gone, housing inventory continues to be at record lows and interest rates remain on the rise. It is the type of perfect storm that will show the industry who the true survivors are and who has been riding the refi wave for the […]
Wells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter. Wells Fargo Chief Financial Officer Mike Santomassimo said higher interest rates have greatly reduced the refinancing market – currently down about 82% from the prior year – and home affordability remains a challenge […]
Music is truly a magical, universal language: one that students in a South African township outside of Johannesburg are learning. Romain Chanson reports for VOA in this story, narrated by Carol Guensburg. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
The Golden State Warriors triumphed over the Boston Celtics on Thursday with a 103-90 victory in Game Six of the NBA Finals in Boston, marking the fourth time the Warriors have won the trophy in eight years. The Warriors’ victory came just two seasons after finishing at the bottom of the league, following injuries to […]
The 16 cities of the first World Cup spread across three nations were revealed, and FIFA President Gianni Infantino made a bold statement summing up the goal of the 2026 tournament, to be played largely in the United States. “By 2026, futbol — soccer — will be the No. 1 sport in this country,” he […]
Fannie Mae and Freddie Mac plan to charge a new 50 basis-point fee for certain structured-finance offerings that use co-mingled agency securities as the underlying collateral. The fee will apply to securities issued through structured-finance offerings known as Supers, and separately, real estate investment conduits (REMICs). Through these vehicles, the uniform mortgage-backed securities (UMBS) of one government-sponsored enterprise […]
The Government Accountability Office this week reminded the Department of Housing and Urban Development (HUD) of some ways it could improve its operations. Among the recommendations, the congressional watchdog said HUD needs to improve internet technology management and that Ginnie Mae, a guarantor for federally backed loans, needs to address “staffing-related challenges.” Both points are […]
Fannie Mae lowered its projections of mortgage originations and home sales for 2022 as mortgage rates continue to climb. Fannie Mae’s Economic and Strategic Research (ESR) Group revised its projected mortgage origination volume to $2.6 trillion in 2022 and $2.2 trillion in 2023. In May, Fannie Mae dropped its mortgage origination volume projection for 2022 […]
neighborhood, housing market, Fall, homes, new house sales, forbearance ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?w=1024″ width=”1200″ height=”800″ src=”https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?w=1024″ alt=”AdobeStock_231108592″ class=”wp-image-330608″ srcset=”https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg 1200w, https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?resize=150,100 150w, https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?resize=300,200 300w, https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?resize=768,512 768w, https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?resize=1024,683 1024w, https://www.housingwire.com/wp-content/uploads/2021/11/AdobeStock_231108592.jpeg?resize=600,400 600w” sizes=”(max-width: 1200px) 100vw, 1200px”>neighborhood, housing market, Fall, homes, new house sales, forbearance The Federal Reserve’s 75 basis point interest rate hike – its largest since 1994 – […]
Purchase mortgage rates climbed 55 basis points, reflecting surging inflation and the Federal Reserve‘s (The Fed) tightening monetary policy. According to the latest Freddie Mac PMMS, purchase mortgage rates this week averaged 5.78%, compared to 5.23% the week prior. A year ago at this time, 30-year fixed rate purchase rates were at 2.93%. “Mortgage rates surged as the […]
Whenever people want to get a mortgage, they search for professionals who can streamline the process. That’s precisely when your mortgage broker business comes to the rescue. In this article, you will find tips on how to grow your business, as well as five big mistakes that you may be making in the process. Ways […]
Fannie Mae and Freddie Mac’s pricing frameworks may see changes to better serve “core mission borrowers,” according to the Federal Housing Finance Agency (FHFA). The regulator also, again, argued for examination authority over entities doing business with the government-sponsored enterprises. In its annual report to Congress, FHFA said it instructed the enterprises to “begin updating […]
In this HW+ Slack Q&A, HousingWire Lead Analyst Logan Mohtashami answers questions from our HW+ member community. Mohtashami focused on the latest inventory and the Federal Reserve’s rate hike announcement. As a member of HW+, you get access to 30-minute Slack Q&As, where we invite the HW Media newsroom to break down the hottest topics in the industry. This […]
The Federal Reserve (Fed) on Wednesday did something it hadn’t done in more than two decades: it raised the federal funds rate by 75 basis points, to 1.50-1.75%, a hike not seen since 1994. The decision, designed to slow the pace of inflation, which reached 8.6% in May for the highest mark in more than […]
A panel of experts assembled at a recent Mortgage Bankers Association (MBA) conference in New York predicted that adjustable-rate mortgages (ARMs) will become far more popular this year as purchase mortgages increasingly dominate a housing market contending with fast-rising interest rates. A June market report by a major digital mortgage-exchange and loan-aggregator, MAXEX, which offers an […]
In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played […]
“A decade ago, the Obama-Biden administration worked alongside Dreamers and immigration experts to establish DACA. Since then, DACA has provided hundreds of thousands of people who grew up in the United States, living American lives and dreaming American dreams, with protection from deportation, access to work permits and education, and hope for a brighter future. […]
Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve, mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10. Refinancing applications increased 4% from the prior week but were still 76% lower than the same […]
Owners of a Florida-based law firm were ordered to pay close to $4.6 million to settle claims that they allegedly ran a mortgage loan modification and foreclosure rescue scheme that targeted Hispanic homeowners. The consent order puts an end to a lawsuit originally launched by the Department of Justice in 2018 against law firm Advocate […]
Citing “concern about holding individual athletes accountable for the actions and decisions of their governments,” the U.S. Tennis Association will let Russian and Belarusian tennis players participate in the U.S. Open later this summer. Wimbledon will still maintain the ban on those athletes, which will include the world’s No. 1 player, Daniil Medvedev. Medvedev is […]
On Tuesday, the other shoe dropped. With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. Redfin CEO Glenn Kelman said the brokerage/listings platform made the tough decision to lay off 470 workers across several […]
The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Fannie Mae and Freddie Mac’s equitable housing finance plans further expand non-traditional property appraisals, which sometimes rely on property tax information, data collected […]
Growing up in the Democratic Republic of Congo, Bismack Biyombo dreamed of playing professional basketball in the United States. His dream has been reality ever since he was drafted into the NBA more than a decade ago. But what he’s doing off the court gives a notable assist to his home country. The 29-year-old center […]
Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 million that was divided into two separate pools. The top bidder is MCLP Asset Co., which is registered as a debt-collection agency with the city of New York’s Department of […]
Today, the U.S. Department of Education’s Office for Civil Rights (OCR) announced the resolution of a student’s complaint of pregnancy discrimination against Salt Lake Community College, in Utah. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Fannie Mae aims to track refinance activity and refinance application trends through its newly launched Refinance Application-Level Index (RALI). The RALI, which sources data from Fannie Mae’s Desktop Underwriter to show the past week’s refinance application trends and prepayment projections, will publish each Tuesday at 10 a.m. EST, according to Fannie Mae. Fannie Mae’s new […]
About 5 million Ukrainian refugees have fled to other parts of Europe since Russia’s assault on their homeland began in February. Among them: nearly three dozen dancers from the Kyiv City Ballet. They’ve found refuge in Paris and continue to perform and plan foreign tours, but the conflict is never far away. For VOA, Lisa […]
Mortgage delinquency rates in March fell below the 3% mark, reaching another historic low as a strong labor market and income growth drove down the number of property owners who are late on their mortgage payments. About 2.7% of all mortgages in the U.S. were delinquent in March, dropping 2.2 percentage points from the 4.9% […]
Today, the U.S. Department of Education launched the National Parents and Families Engagement Council (the Council) to facilitate strong and effective relationships between schools and parents, families and caregivers. Families’ voices play a critical role in how the nation’s children are recovering from the pandemic. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]
A startup professional golf tour backed by Saudi Arabia’s sovereign wealth fund has roiled the usually staid world of professional golf — the PGA Tour — in the United States. The PGA suspended 17 professional players last week for participating in the inaugural Saudi tournament, which began June 9. The new tour, the LIV Golf […]
Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. CIRT 2022-6 involves a covered loan pool composed of 63,000 single-family mortgages with a total unpaid principal balance of about $19.3 […]
Non-QM lender Angel Oak Cos., through its mortgage-backed securities conduit Angel Mortgage Trust, is out with its fourth private-label securities offering of 2022, even as rate volatility in the market continues to throw sand in the market’s gears. The recent offering, AOMT 2022-4, involves a pool of 407 mortgages valued at $217.2 million and includes primarily non-QM […]
The watchdog tasked with oversight of the Federal Housing Finance Agency (FHFA) laid out its strategic priorities for the next four years. Federal Housing Finance Agency Office of Inspector General will carry out oversight to make sure FHFA ensures the safety and soundness of the entities it regulates and is an effective conservator of Fannie […]
Overall mortgage rate lock took a hit in May, led by a drop in refinance activity, both for rate-term refis and cash-outs. In a higher rate environment, lenders were more reliant on the purchase market for origination volumes. Rate locks were down 4.8% last month, according to Black Knight’s monthly mortgage originations market report. Purchase […]
June is Lesbian, Gay, Bisexual, Transgender and Queer Pride Month. In the Western U.S. state of Colorado, multimedia artists are exploring the intersections of gender identity and disability. VOA’s Scott Stearns has the story from Denver. WARNING: The video contains a brief depiction of nudity. details ⇒ BusinessMediaguide.Com portal received this content from this noted […]