Mortgage rates surged to 5.27% over the last week, the highest average since 2009, according to the latest Freddie Mac PMMS. This week’s average purchase mortgage rate rose 17 basis points from the prior week’s 5.10%. A year ago at this time, 30-year fixed-rate purchase rates were at 2.96%. The government sponsored enterprise’s index accounts […]
Mortgage rates are increasing and demand is beginning to level out. The residential real estate market is shifting, creating uncharted territory for lenders who’ve relied on a housing boom and refinancing to keep them in business. As existing home owners potentially put the brakes on buying new homes or on refinancing their existing ones, lenders […]
China is stepping up censorship of U.S. films as producers make movies with an eye toward pleasing Beijing yet without isolating the global audience, industry insiders say. The roughly 25-year-old practice of cutting scenes that don’t conform to Communist Party ideals from Hollywood movies has expanded. “Now it’s kind of escalated in the sense that […]
The shirt worn by Diego Maradona when he scored the controversial “Hand of God” goal against England in the 1986 World Cup has sold for $9.3 million (7.1 million pounds), the highest price ever paid at auction for a piece of sports memorabilia. Auctioneer Sotheby’s sold the shirt in an online auction that closed Wednesday. […]
In a move with ramifications for an untold number of mortgage lenders and service firms, Intercontinental Exchange, Inc., a software and data company whose mini-empire includes ICE Mortgage Technology, has bought Black Knight. The $13.1 billion mega-deal was announced in a press release Wednesday afternoon. The move between what are generally regarded as the two […]
The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation, in conjunction with a plan to shrink its $9 trillion asset portfolio beginning next month, according to Chairman Jerome Powell. During a news conference following the Fed’s committee meeting, Powell announced the increase and […]
Black Knight’s Optimal Blue is looking to court mortgage brokers with its new pricing feature that provides up-to-date rates on its cloud-based loan servicing platform. Dubbed Quick Quote, the feature was added to Loansifter – its product, pricing and eligibility engine – and enables brokers to make accurate quote offers for products available to consumers […]
Good morning, Chairwoman DeLauro and Ranking Member Cole. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Eminem, Lionel Richie, Carly Simon, Eurythmics, Duran Duran and Pat Benatar have been inducted into the Rock & Roll Hall of Fame, a list that also includes Dolly Parton, who initially resisted the honor. The honorees — voted on by more than 1,000 artists, historians and music industry professionals — “each had a profound impact […]
Don Layton, the former CEO of Freddie Mac recently penned what can only be described as an attack piece on mortgage originators from his seat as a fellow at the JCHS, Harvard’s Joint Center For Housing Studies. But what Mr. Layton has done is simple: perpetuate his ongoing disdain for the participants in the manufacturing […]
U.S. comedian Dave Chappelle was attacked on stage on Tuesday night at the Hollywood Bowl in Los Angeles by an assailant who rugby-tackled him before being apprehended and arrested, video footage verified by Reuters showed. The attack came just over a month after actor Will Smith slapped comedian Chris Rock on stage at the Oscars, […]
Individuals across the country chasing the American dream of homeownership helped to push mortgage-application volume up by 2.5% for the week ending April 29, compared with the prior week. The uptick, as measured by the Mortgage Bankers Association‘s (MBA’s) Market Composite Index, was propelled primarily by purchase-application activity, as rates remain elevated, hovering in the […]
This was the first Eid al-Fitr in the United States for most of the more than 70,000 Afghan refugees who came to the country following the Taliban takeover last August. For VOA, Genia Dulot met with some of those refugees in California to see how they are marking the end of Ramadan. Camera: Genia Dulot details ⇒ […]
Nonbank heavyweight loanDepot will unveil a home equity line of credit (HELOC) product in the third quarter of 2022, the first offering of its recently launched mello business unit. Fast-rising mortgage rates, recently cresting above 5%, have reduced refinance volumes by 70% year over year as of the end of April. The lender seeks to expand its […]
A Palo Alto, California-based fintech startup Point, which bills itself as allowing homeowners to tap into future home appreciation, closed on a $115 million Series C funding round, the company announced Tuesday. Point now says it has raised $170 million in equity capital. WestCap Group, a New York City-based investor, led the funding with existing […]
Fannie Mae, the government-sponsored enterprise that backs the majority of conventional mortgages, is not immune to the sharp decline in mortgage refinances. The enterprise reported $7.5 billion in first quarter revenue, a $700 million jump from 2021. But net income income was down 12% from nearly $5 billion first quarter 2021, to $4.4 billion this […]
Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. Then, in what felt like an instant, in Q1 2022 […]
U.S. home prices in March climbed a record 20.9% year over year, but the explosive pace of appreciation is expected to cool down to the single digits by the same time next year. The jump in March marks the 122nd consecutive month that the annual housing-price measure has increased, according to CoreLogic‘s recent national Home Price […]
Hundreds of A-listers dressed to the theme of “gilded glamour” gathered Monday in New York for the annual Met Gala extravaganza known as “the party of the year. The fundraiser is back in its usual early May slot after the coronavirus pandemic forced the cancellation of the 2020 event and delayed last year’s edition to […]
The Council on American-Islamic Relations (CAIR) reported there was a spike in Islamophobia and a surge in hate crimes against Muslims in the United States last year. The council recommends bringing minority communities together to try to defuse tensions. One such effort is linked to celebrations to mark the end of the Muslim month of […]
The UEFA Champions League, soccer’s governing body, announced Monday the Russian women’s soccer team will be banned from the Women’s European Championship in July and from participating in qualifying for next year’s World Cup over Russia’s invasion of Ukraine. The Russian team will be replaced by the Portuguese team for the tournament that will be […]
Fannie Mae has priced its fifth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $952 million note offering backed by a reference pool of single-family mortgages valued at $38.5 billion. The offering is slated to close May 11, according to a presale review by the Kroll Bond Rating Agency (KBRA). A credit-risk transfer deal involves transferring […]
Skateboarding tends to be the domain of the young and agile. But as Genia Dulot reports from Los Angeles, Tracie Garacochea finds age and limited mobility are no barriers to the sport or other aspects of her life. Videographer: Genia Dulot Produced by: Genia Dulot, Jack Lacy details ⇒ BusinessMediaguide.Com portal received this content from […]
Surging interest rates and home price appreciation made March one of the most challenging months for prospective homebuyers looking to make purchases, according to a recent report. Annual home price gains saw 19.9% annual appreciation in March, down from an upwardly revised 20.1% in February, which was the first month to see price growth greater […]
Egyptian worshippers, workers, families, and friends are celebrating Eid al-Fitr, the three-day Islamic holiday marking the end of the holy month of Ramadan. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Russia’s Bolshoi Theatre has announced it is cancelling the performances directed by Kirill Serebrennikov and Timofey Kulyabin who have spoken out against Moscow’s military campaign in Ukraine. Late Sunday, Russia’s top theatre announced that instead of the three performances of “Nureev,” a ballet directed by Serebrennikov, the audiences this week will see a production of […]
U.S. President Joe Biden is hosting a reception Monday to celebrate Eid al-Fitr, which marks the end of the Muslim holy month of Ramadan. Biden will be joined at the White House event by his wife, Jill, and Doug Emhoff, husband of Vice President Kamala Harris. “The tradition of religious freedom for all strengthens our […]
Ray Charles and The Judds joined the Country Music Hall of Fame on Sunday in a ceremony filled with tears, music and laughter, just a day after Naomi Judd died unexpectedly. The loss of Naomi Judd altered the normally celebratory ceremony, but the music played on, as the genre’s singers and musicians mourned Naomi Judd […]
Afghan Taekwondo champion Nisar Ahmad Abdulrahimzai fled Afghanistan for Ukraine and is now in Switzerland. Despite his circumstances, he says he is ready to represent Afghanistan in competition. VOA’s Waheed Faizi has the story. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Naomi Judd, the Kentucky-born singer of the Grammy-winning duo The Judds and mother of Wynonna and Ashley Judd, has died. She was 76. The daughters announced her death Saturday in a statement provided to The Associated Press. “Today we sisters experienced a tragedy. We lost our beautiful mother to the disease of mental illness,” the […]
Add Mr. Cooper Group to the list of mortgage originators and servicers reducing staff: pink slips arrived for 250 employees in the first quarter, as the company faced declines in the earnings from loan originations. And the company is forecasting a few tough origination quarters ahead. “While the mortgage industry experienced record high origination volumes […]
By: Damian Archer As one of the first recipients in Maine of a Pell Grant through the Second Chance Pell Experimental Sites Initiative, I cherish these opportunities to represent education’s potential for rehabilitating the imprisoned. My education while incarcerated and my release to the “real world” holds perspective which I offer gratefully to provide more […]
Total Expert team members took a trip to Louisiana earlier this year to help the New Orleans Area Habitat for Humanity organization. In partnership with the nonprofit, the team was able to rebuild a home that was destroyed by Hurricane Ida, a Category 4 Atlantic hurricane that made landfall in Louisiana at the end of […]
For many students, living and studying at one of the most prestigious schools in the United States can be stressful and sometimes a little lonely. But some Muslim students at Princeton University can find comfort in their community during the month of Ramadan. VOA’s Nida Samir reports. details ⇒ BusinessMediaguide.Com portal received this content from […]
Connecticut-based mortgage servicer and lender Planet Home Lending has entered into an agreement to acquire assets from Homepoint‘s delegated correspondent channel for $2.5 million in cash, the companies announced on Friday. The move signals Homepoint’s exit from the correspondent channel to focus on wholesale. Homepoint was the 11th biggest residential mortgage lender in the country last year, […]
While other “big four” title insurers discussed the “transitional period” in the housing market during their first quarter 2022 earnings calls with investors, Old Republic International Corp.’s president and CEO, Craig Smiddy decided to take a bolder stance. “I think the way we are looking at refinancing activity right now, is that it is dried […]
Planet Earth has has gone from a ball of molten rock to ice, and then, to the climate we have today. Just like Earth, mortgage rates and housing markets are cyclic and we’re heading into another Ice Age. Find me a sales meeting in the U.S. that didn’t talk about the cycle. There is a […]
A musical that depicts the remarkable escape from the Holocaust of a renowned Jewish sculptor and his family is about to open in Australia. Driftwood recounts the journey of Karl Duldig, his wife Slawa Horowitz-Duldig – inventor of the modern foldable umbrella – and their baby daughter, Eva. They fled the Nazis from Vienna in […]
Nonbank mortgage lender and servicer Mr. Cooper Group reported net income of $658 million in the first quarter of 2022, increasing its profits by a factor of four compared to the $155 million recorded in the previous quarter. The performance reflects gains with mortgage servicing rights (MSR) and a deal with the fintech Sagent, which offset lower profitability […]
Muslim worshippers in Turkey’s southeastern city of Diyarbakir say they are struggling to purchase essential groceries for Ramadan celebrations because of the country’s high inflation rate. VOA’s Xecican Farqin has details in this report narrated by Rikar Hussein. Camera: Xecican Farqin details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
For the fifth consecutive month, pending home sales declined in March from February, down 1.2%, signaling a potential return to “much calmer” conditions, according to the National Association of Realtors. Only the northeast region saw an increase in pending sales in March from February, according to an NAR news release based off data from its […]
Homebuyers can secure a home mortgage using cryptocurrency as collateral through a new partnership between blockchain real estate platform Propy and crypto wallet service Abra. The Abra Borrow platform allows customers to use crypto as collateral to borrow U.S. dollars with flexible repayment terms and interest rates as low as 0%, Propy, a real estate […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today resolved an investigation of the Los Angeles Unified School District in California with an agreement requiring it to take steps necessary to ensure that students with disabilities receive educational services, including compensatory services, during and resulting from the COVID-19 pandemic. details ⇒ BusinessMediaguide.Com portal […]
#2022 ” data-image-caption=”” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?w=1024″ width=”1200″ height=”700″ src=”https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?w=1024″ alt=”2022 Layoff” class=”wp-image-335200″ srcset=”https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png 1200w, https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?resize=150,88 150w, https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?resize=300,175 300w, https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?resize=768,448 768w, https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?resize=1024,597 1024w, https://www.housingwire.com/wp-content/uploads/2022/01/newsroom-template_layoffs.png?resize=600,350 600w” sizes=”(max-width: 1200px) 100vw, 1200px”> Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. “The residential housing market has turned quickly due to historically […]
Freddie Mac reported net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, even as purchase and refinance activity continued to decline. The company’s net worth climbed to $31.7 billion, up nearly $13 billion from the same time last year. Its single-family mortgage portfolio now stands at $1.9 trillion, […]