Foreclosure activity slowed slightly in November 2024, reversing a trend of rising foreclosures in October. But this decline may merely be a seasonal phenomenon, according to real estate data provider Attom. On Tuesday, Attom released its November 2024 U.S. Foreclosure Market Report. The report includes the total number of properties nationwide that have at least […]
After briefly crossing the 7% threshold, mortgage rates have moved lower in the past two weeks. And they have the potential to continue dropping by the end of the year, depending on how markets react after next week’s Federal Reserve meeting. At HousingWire’s Mortgage Rates Center on Tuesday, the 30-year conforming rate averaged 6.87%. That […]
The Consumer Financial Protection Bureau (CFPB) this week announced it has launched rulemaking to address harmful financial consequences of crimes including domestic violence and elder abuse. The Bureau is announcing it ahead of time to gather feedback for potential amendments to the regulation that implements the Fair Credit Reporting Act (FCRA), Regulation V. Specifically, the […]
In December, many Africans return to their ancestral homes to reconnect with their families and traditions. In South Africa, that includes traditional healers. As Zaheer Cassim reports from Johannesburg, many are finding that a new app is helping to bring this age-old practice into the digital age. details ⇒ BusinessMediaguide.Com portal received this content from […]
A welcome drop in 30-year conforming mortgage rates to the low-6% range led to a burst of refinance activity early in the fall, with more than 300,000 mortgage holders closing refinance transactions in September and October. That’s according to the December 2024 Mortgage Monitor report from Intercontinental Exchange (ICE). “Homeowners pounced on their incentive to refinance […]
In an industry without formal education requirements, mortgage coaches can play a critical role in professional education and development. But gone are the days when loan officers were the only ones who needed to stand out from their competition — mortgage coaches are now the ones competing for a dwindling pool of LOs. At the same […]
In a recent episode of “The Loan Officer Podcast,” co-hosts Dustin Owen and John Coleman dive into the potential impacts of Elon Musk’s idea to disband the Consumer Finance Protection Bureau (CFPB). This conversation has been edited for length and clarity. To start the episode, Coleman asks Owen to share his perspectives on Musk’s plan […]
As we approach the end of the year and celebrate the holidays, let’s not forget your organizations #1 asset. YOUR TEAM! I know the year hasn’t been the greatest for our industry, or most industries for that matter. But if your company is still standing (I’m still standing, yea… yea… yea – in my Elton […]
Residential sale-leaseback platform EasyKnock has abruptly shut down its operations after facing scrutiny from state regulators and being under fire from disgruntled consumers. “After many years of serving consumers, EasyKnock has closed its doors,” a message on the company’s website states. “We are deeply grateful for the trust placed in us to be part of […]
The reverse mortgage division of Rate — formerly known as Guaranteed Rate — recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rate’s reverse lending division as the company heads into 2025. In a wide-ranging interview with HousingWire‘s Reverse Mortgage Daily (RMD), Allen first explored the state of the business […]
A survey of 1,000 Americans ages 65 and older found that nearly 90% want to age in place in their own homes. The survey also listed the best and worst cities for aging in place based on cost of living, availability of care and life expectancy. The survey, conducted by This Old House, asked respondents […]
The U.S. Department of Housing and Urban Development (HUD) on Monday announced the disbursement of $72.6 million in new funding under the Indian Community Development Block Grant (ICDBG) program, adding up to $2 million to 38 individual community recipients to bolster housing development, expansion and preservation. The grant funds will be primarily deployed to bolster […]
BEVERLY HILLS, California — Musical thriller “Emilia Perez” and historical epic “The Brutalist” led the roster of films nominated on Monday for the 2025 Golden Globes, the Hollywood honors that kick off the movie awards season leading to the Oscars. “Emilia Perez,” released by Netflix NFLX.O, scored 10 nods and “The Brutalist,” from independent distributor A24, […]
If 2024 was a rollercoaster, 2025 is shaping up to be a championship game—and every buyer, seller and homeowner has a shot at winning big. After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. Whether you’re looking […]
The results of the 2024 U.S. presidential election rattled the country and sent shockwaves across the world — or were cause for celebration, depending on who you ask. Is it any surprise then that the Merriam-Webster word of the year is “polarization”? “Polarization means division, but it’s a very specific kind of division,” said Peter […]
Vancouver, British Columbia — Taylor Swift’s “The Eras Tour” officially ended Sunday in Vancouver, British Columbia, Canada. The nearly two-year-long tour was record-breaking and trend-setting. It is finally the end of an era for Taylor Swift. The last show here in Vancouver is the finale of a 149-concert tour that spanned almost two years. It is […]
The Walt Disney Co.’s animated film “Moana 2” remained at the top of the box office in its second weekend in theaters as it brought in another record haul. The film added $52 million, according to studio estimates Sunday. That brings its domestic total to $300 million, surpassing the original, and its global tally to […]
U.S. mortgage holders experienced a home equity increase in the third quarter of 2024 — up 2.5% year over year to a total of $17.5 trillion nationwide. But that was down from 8% growth in the second quarter, and negative equity also ramped up for the first time in two years, according to a CoreLogic […]
TOKYO — A frog holding a taro-leaf umbrella. A parade of frolicking animals. An Ukiyo-e style Mount Fuji. Giant waves. A Japanese artist who goes by the name Lito carves these delicate designs on fallen leaves, giving life back to them. The world of Lito’s delicate art, which he began in 2020 and posts on social […]
MINNEAPOLIS — A pair of iconic ruby slippers that were worn by Judy Garland in The Wizard of Oz and stolen from a museum nearly two decades ago fetched $28 million in an auction Saturday. Heritage Auctions had estimated that they would fetch $3 million or more. Online bidding opened last month and by Friday had […]
VATICAN CITY — Pope Francis was seen with a significant bruise on his chin Saturday, but he presided over a ceremony to install new cardinals without apparent problems. A Vatican spokesperson said later Saturday that the bruise was caused by a contusion on Friday morning when Francis hit a nightstand with his chin. The pontiff, who […]
In the newest episode of the HousingWire Daily podcast, Editor in Chief Sarah Wheeler sits down with author and investment banker Chris Whalen to explore the potential pitfalls of ending the federal conservatorships of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. This interview has been edited for length and clarity. To start the […]
Many older Americans say they have no plans to sell their homes. What does this mean for younger generations who are looking to enter the homeownership phase of life? (Image generated by AI in Midjourney) There are two particular ways for people to interpret the phrase “silver tsunami” in the context of an aging population’s […]
PARIS — Notre Dame will formally reopen Saturday, five years after the Paris cathedral was devastated by fire, with U.S. President-elect Donald Trump among world leaders there to celebrate its remarkably rapid restoration. Held up as an example of French creativity and resilience by President Emmanuel Macron, Notre Dame’s renaissance so soon after a 2019 blaze […]
Tim Nelson, reverse department manager at VIP Mortgage, is a 35-year veteran of the mortgage business, and he has been solely focused on reverse mortgages for the past 15 years. Nelson recently sat down with HousingWire’s Reverse Mortgage Daily (RMD) to share perspectives on what it was like to move from being a reverse mortgage […]
The Federal Housing Administration (FHA) on Friday announced two new key responses to its ongoing disaster recovery efforts in the wake of an accelerating trend of extreme weather events. These include an extension of a foreclosure moratorium for victims of hurricanes Helene and Milton, as well as a new pre-disaster housing partnership with the Federal […]
Sam Valverde, who stepped down as acting president of Ginnie Mae on Nov. 30, will join Freddie Mac as vice president of mission and community engagement in the government-sponsored enterprise’s single-family acquisitions division. The move is effective Monday. With more than 20 years of experience in housing and capital markets, Valverde has held senior positions […]
UWM Holdings Corp., the parent company of leading U.S. mortgage lender United Wholesale Mortgage (UWM), has raised $800 million through an unsecured debt offering, a 60% increase from its initial plan. The offering, targeted at qualified investors, priced at 6.625% with senior notes due in 2030. These notes are guaranteed on a senior unsecured basis […]
Home Equity Conversion Mortgage (HECM) endorsements continued to decline in the 2024 fiscal year from a recent peak observed in 2022, while the HECM line of credit continued its dominance as a payment option. Single women were the single largest cohort served by the HECM program. This is according to program data from the Federal […]
In this week’s episode of the Power House podcast, Mr. Cooper CEO Jay Bray joins HousingWire president Diego Sanchez for a conversation centered on balanced servicing and origination activities in the mortgage space. The duo explore Mr. Cooper’s growth initiatives, artificial intelligence (AI) usage for revenue growth and the future of the mortgage business. The […]
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2025 Tech100 Award are open now through December 16, 2024. Click here to nominate a tech organization. The mortgage and real estate industries are on the cusp of a technological revolution, with emerging innovations like […]
President-elect Donald Trump and Republican Party critics of the Federal Reserve may not be aligned on what they see as key priorities for reforming the central bank. Trump has previously said that he wants more influence over its practices, but lawmakers may want the opposite, according to a report from Politico. “The president-elect’s chief issue […]
UWM Holdings Corp., the parent company of leading U.S. mortgage lender United Wholesale Mortgage (UMW), announced Thursday its plan to raise $500 million in debt through a private offering of senior notes that mature in 2030. The company intends to use the proceeds to pay down outstanding amounts on its mortgage servicing rights (MSR) facilities […]
As consumer debt reaches all-time highs and the cost of living continues to escalate, home equity investment fintech Splitero on Thursday announced a purchase commitment from funds managed by asset manager Blue Owl Capital. Per a release from the companies, Blue Owl’s alternative credit strategy funds will purchase up to $350 million of home equity […]
Rocket Mortgage, the third-largest U.S. mortgage lender, is suing the U.S. Department of Housing and Urban Development (HUD), alleging the agency is “unfairly” holding the company accountable for the actions of an independent appraiser in a 2021 case. The lawsuit was filed Wednesday in U.S District Court in Colorado. A HUD spokesperson told HousingWire that […]
A bill aimed at limiting the use of credit trigger leads was excluded from the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA), the Broker Action Coalition informed its members on Wednesday. However, the group assured members that a backup strategy is already in place. “This bill, along with a slew of other provisions, […]
In my previous article, we examined whether technology is the problem rather than the solution in the mortgage industry. Despite significant investments to streamline workflows and reduce costs, the industry continues to face escalating origination expenses and cyclical workforce adjustments. This raises a new question: If technology alone isn’t the cure-all, what should the industry […]
LUQUE, PARAGUAY — Sake is perhaps more Japanese than the world-famous sushi. It’s brewed in centuries-old mountaintop warehouses, savored in the country’s pub-like izakayas, poured during weddings and served slightly chilled for special toasts. The smooth rice wine that plays a crucial role in Japan’s culinary traditions was enshrined on Wednesday by UNESCO on its list […]
The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage (HECM) limit for 2025 will be $1,209,750. It’s the ninth straight year that the limit will increase based on home-price appreciation levels, which feeds into a single, national limit for all HECM loans. While the increased limit theoretically increases the borrowing […]
Removing the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from federal conservatorship — where they have been since the aftermath of the 2008 financial crisis — has been a longtime priority of Republican leaders in government. President-elect Donald Trump has spoken about it during his first term in the White House and in the […]
Michigan-based United Wholesale Mortgage (UWM) has launched a new pricing incentive, offering 60 basis points (bps) to its broker partners for the next 60 days, a period when mortgage market activity typically slows due to the holiday season. The program, dubbed “60bps for 60 Days,” applies to both conventional and government loans and is available […]
The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-24, which implements guidance first floated this past summer to open up communications between mortgage lenders and defaulted borrowers to remote and electronic methods. This is designed to broaden the ways for borrowers to meet with lenders following the success of remote communications on […]
After hitting a historic low point in 2023, mortgage delinquency rates have been climbing rapidly in recent quarters, particularly within the Federal Housing Administration (FHA) portfolio. The shift is being driven by a combination of factors, including macroeconomic pressures, the impact of natural disasters, and rising property insurance premiums and taxes. Certain borrower groups are […]
PARIS — U.S. President-elect Donald Trump and U.S. first lady Jill Biden are among global dignitaries expected in Paris Saturday as the city’s iconic Notre Dame Cathedral reopens five years after a massive fire. Trump’s visit to Paris is expected to be his first foreign trip since winning the election last month. U.S. President Joe Biden […]
Mortgage applications increased 2.8% on a seasonally adjusted basis during the week ending Nov. 29 as borrowers took advantage of improved inventory levels and the lowest mortgage rates in a month, according to data released Wednesday by the Mortgage Bankers Association (MBA). Purchase loan activity drove total applications higher last week, which included an adjustment […]