Roemanu, the holding company for Toorak Capital Partners and Merchants Mortgage, announced on Tuesday that it has hired former Finance of America executive Charles Macintosh as its chief operating officer. Macintosh will also join Roemanu’s executive committee and oversee multiple areas of the business from its headquarters in Tampa and its office in Summit, New […]
Top U.S. mortgage lender United Wholesale Mortgage (UWM) this week won a three-year legal battle with a mortgage brokerage firm. The case involves the lender’s controversial “All-In” initiative, which states that brokers who work with UWM cannot engage in business with competitors Rocket Mortgage and Fairway Independent Mortgage Corp. On Monday, U.S. District Court Judge […]
Seller repurchases of Freddie Mac mortgages rose to $430 million in the second quarter of 2024, a 29.1% increase from the first quarter, according to an analysis of public filings by Inside Mortgage Finance. By contrast, sellers of loans through fellow government-sponsored enterprise (GSE) Fannie Mae repurchased $268.5 million in noncompliant loans during the same […]
On Monday, a coalition of eight senators — seven Democrats and one Independent — submitted a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson, urging her to phase in a series of modernized energy-efficiency standards for mortgages backed by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The signatories include Sens. Cory […]
Mortgage technology platform provider Dark Matter Technologies announced on Monday that it has added a second loan origination system (LOS) — NOVA — to its product lineup. NOVA joins current LOS Empower, and both offerings will aim to offer distinct options for a wider range of mortgage lenders, according to the announcement. “Adopting a dual-product […]
California-based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. Bergjans joined the company this month as its national director of military growth and strategy. Before that, Bergjans spent eight years at Caliber Home Loans, including […]
ZHENGZHOU, China — On a film set that resembles the medieval castle of a Chinese lord, Zhu Jian is busy disrupting the world’s second-largest movie industry. The 69-year-old actor is playing the patriarch of a wealthy family celebrating his birthday with a lavish banquet. But unbeknownst to either of them, the servant in the scene is […]
Los Angeles — It’s a three-peat for “Beetlejuice Beetlejuice.” The Tim Burton legacy sequel to his 1988 horror comedy topped the North American box office charts for the third straight weekend with $26 million in ticket sales, according to studio estimates Sunday. It edged out the animated new release “Transformers: One,” which brought in $25 million. […]
SANBAGAWA, Japan — Benmou Suzuki’s dilapidated 420-year-old temple, located deep in the forest near a tiny Japanese mountain village, hardly looks like prized real estate. Yet the monk was recently approached by two men, who said they were real estate brokers and wanted to know if he was interested in selling. He suspects they weren’t really […]
KARACHI, Pakistan — Stained glass windows, a sweeping staircase and embellished interiors make Mohatta Palace a gem in Karachi, a Pakistani megacity of 20 million people. Peacocks roam the lawn and the sounds of construction and traffic melt away as visitors enter the grounds. The pink stone balustrades, domes and parapets look like they’ve been plucked […]
PHNOM PENH, CAMBODIA — Nhem Liza made her first visit to the National Museum of Cambodia after learning about the August return from the United States of dozens of looted Cambodian artifacts, including important Hindu and Buddhist masterpieces dating from the ninth to 14th centuries. “Those artifacts are amazing,” said 15-year-old Nhem, a 10th grade Phnom […]
The Federal Reserve did something this week it hadn’t done in more than four years when it lowered the federal funds rate by half a percentage point. But for mortgage industry professionals hampered by fewer sales opportunities since the Fed’s streak of rate hikes began in March 2022, will this be the start of better […]
In a new episode of the HousingWire Daily podcast, host Sarah Wheeler chats with Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA). The pair discuss the latest happenings for independent mortgage banks (IMBs) during the election season, updates to the Federal Housing Administration (FHA)’s 203(k) loan program — which allows homebuyers to […]
The Homebuyers Privacy Protection Act of 2024, a U.S. Senate bill introduced this past December that targets mortgage trigger leads, has been incorporated into the fiscal year 2025 National Defense Authorization Act (NDAA). This is a bill that Congress must pass each year, since it refers to laws that specify the annual budget for the […]
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Tech Trendsetters award are open now through Monday, Sept. 30. Click here to nominate someone. If we learned anything from HousingWire’s recent AI Summit, artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and […]
Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time. While news of the Federal Reserve lowering its benchmark interest rate by 50 basis points (bps) to a range of 4.75% to 5% will have wider economic ramifications in the government’s ongoing efforts to […]
Heartland Bank, the leading reverse mortgage lender in Australia and New Zealand, will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We are excited to deliver the Heartland Bank brand to our reverse mortgage customers,” said Medina Cicak, the bank’s newly […]
The overall critical defect rate for mortgages increased in the first quarter of 2024, ending five consecutive quarters of decline. But the increase itself was relatively modest and the share of loans with defects now stands at 1.58%, according to a report released Thursday by ACES Quality Management. The company’s Mortgage QC Industry Trends Report […]
details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
CMG Home Loans, the retail lending division of CMG Financial, has its eyes on growing its dedicated reverse mortgage segment. In addition to recently making a key operations hire in an effort to expand its capacity to originate and fund loans, market conditions — including an expanding Home Equity Conversion Mortgage (HECM) for Purchase market […]
Elder financial exploitation (EFE) is a common form of elder abuse that impacts as much as 10% of older Americans each year. But to better combat its growing commonality, more information is needed — particularly for vulnerable communities — according to senior advocacy organization AARP. “While financial exploitation can occur in any community, gaps in […]
The Federal Reserve lowered its benchmark interest rate on Wednesday by 50 basis points (bps) to a range of 4.75% to 5%, turning an important corner in the central bank’s fight against inflation. The cut is the first since March 2020 after the Fed raised interest rates to a 23-year high point to cool the economy […]
For those of us in the mortgage world, the spring and summer market may be showing some signs of slowing down, and what a ride this market has been. If the past few years have taught us anything, even the veterans must find ways to adapt, and anything can happen in our industry. You deserve […]
Federal Reserve policymakers are expected to lower the benchmark interest rate on Wednesday for the first time in more than four years. But it appears to be anyone’s guess as to how large the cut will be. Interest rate traders were giving shorter odds on Tuesday afternoon to a cut of 50 basis points (bps), […]
Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. Carlyle also made a strategic investment into the San Francisco-based Unison, enabling it to launch its Equity Sharing Home Loan product. “We are excited to partner with Unison to provide an attractive solution […]
A historic rise in home prices and nearly three years of high mortgage rates have put housing issues front and center in the 2024 presidential campaign. Kamala Harris has outlined an ambitious vision for housing that would involve the construction of 3 million new homes in four years. At a policy discussion on Monday hosted […]
If Donald Trump wins a second term in the White House, he’s going to attempt to return Fannie Mae and Freddie Mac to private status after more than 16 years under federal conservatorship. That’s according to Mark Calabria, the former head of the Federal Housing Finance Agency (FHFA) under Trump. As for the mechanics of […]
The federal government is launching a campaign on Zillow to help provide housing counseling services to more Americans. The Department of U.S. Department of Housing and Urban Development (HUD) on Tuesday also will publish a new final rule in the Federal Register to expand accepted communication methods for counseling clients. Zillow advertising partnership Zillow is […]
The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C., former Federal Housing Financing […]
NEW YORK — Music mogul Sean “Diddy” Combs has been hit with three federal charges of racketeering conspiracy, sex trafficking and transportation to engage in prostitution, according to an indictment unsealed on Tuesday. Combs, 54, was arrested in Manhattan by federal agents on Monday night, following a year in which his career was derailed by several […]
Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco-based Unison calls its new offering the Equity Sharing Home Loan. The company explained that the product operates as a ”hybrid between debt and equity.” It’s initially […]
Anthony Casa, President & CEO of UMortgage, isn’t mincing words when it comes to the lending practices that often victimize our veterans. “Our veterans deserve better. Unfortunately, it’s far too common for lenders to prioritize their own profits over the financial well-being of those who have served our country,” Casa shares. “These lenders take advantage […]
The U.S. Department of Education announced today that it is awarding grants to eight Historically Black Colleges and Universities (HBCUs) under the Augustus F. Hawkins Centers of Excellence Program (Hawkins) and the Minority Science and Engineering Improvement Program (MSEIP). details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department […]
At the end of August, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage,” which includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. Jim Cory, managing director of Guild’s reverse division, previously spoke with HousingWire’s Reverse Mortgage Daily (RMD) […]
The country’s largest wholesale lender, United Wholesale Mortgage (UWM), has launched a broker training program that will teach individuals to become licensed mortgage originators. Dubbed “BrokerX,” the five-week program will provide existing brokers with a “streamlined solution” for training and licensing new talent without the use of their own training team. UWM announced the move […]
Hello Philadelphia! Hello HBCU family! Thank you, Sierra, for the kind introduction. Let’s give it up for all the White House HBCU Scholars here today. It’s great to be here in the City of Brotherly Love. The 46th President of the United States is on his way, but first let me first thank our White […]
Osaka, Japan — Japan celebrated on Monday the record-breaking Emmy Awards triumph of “Shogun”, although many confessed not having watched the series about the country’s warring dynasties in the feudal era. “Shogun” smashed all-time records at the television awards in Los Angeles on Sunday, taking home an astounding 18 statuettes and becoming the first non-English-language […]
details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
LOS ANGELES — “Hacks” won the comedy series at Sunday’s Emmy Awards, topping “The Bear,” which took home several of the night’s honors. “Shogun” won the best drama series win, collecting a whopping 18 Emmys for its first season, just one of several historic wins. Hiroyuki Sanada won best actor in a drama for “Shogun” on […]
Los Angeles — Hollywood will dole out the annual Emmy Awards, the highest honors in television, Sunday at a red-carpet ceremony where the historical drama “Shogun” and restaurant tale “The Bear” are poised to dominate the night. “Shogun,” a lavish epic about a power struggle in 17th-century Japan, is the front-runner to take the night’s top […]
details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
In what has become a familiar fall ritual, mortgage lenders are increasing their conforming loan limits months ahead of the FHFA’s official announcement. On Friday, Pennymac joined Rocket Pro TPO in announcing an increase in their conforming loan limit to $802,650 — before the expected increase by the FHFA in November. Pennymac’s increase will be […]
What is Art? It’s an age-old question: is it paint on canvas, ceramics or sculpture? The fun part is – art can be anything – and can even be created with a chainsaw. That’s the medium of one artist from the U.S. state of Virginia. Maxim Adams has the story. (Camera: Andrey Degtyarev; Produced by: Andrey […]
details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
MEJICANOS, El Salvador — From the window of her tin-sided shop outside El Salvador’s capital, San Salvador, Esmeralda Quintanilla watches artists get to work in her neighborhood on walls still pockmarked by bullet holes from the country’s civil war and gang conflict. Armed with brushes, paint and spray cans, muralists and graffiti artists have already covered […]