As many as half of surveyed U.S. adults said that retiring at age 65 is “unrealistic,” instead saying that age 74 is a more attainable goal to reach full retirement. This is according to a survey conducted by Equitable, a financial services provider. “Equitable’s survey revealed that nearly half of consumers (47%) believe it is […]
Kiavi, a San Francisco-based lender for residential real estate investors, announced on Tuesday the closing of a $400 million rated securitization of residential transition loans (RTLs) in an “oversubscribed” transaction. The deal marked Kiavi’s 19th securitization, elevating its total issuance to over $5 billion since it launched its securitization program in 2019, including $1.4 billion […]
Refinance activity last week hit its highest level since August 2022, when mortgage rates were closer to 5%. But it’s far too early to celebrate. Refinance activity received a major boost last week as mortgage rates declined on the back of expectations that the Federal Reserve will cut interest rates and a possible recession looms. The […]
The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. In these contracts – also known as “land contracts” or “bond for deed” –the seller retains the legal title to a home until the borrower completes all […]
london — Street artist Banksy on Monday unveiled a new mural of a rhinoceros that looks like it is climbing on top of a car in London — the eighth animal-themed artwork he has posted in the past week in a collection that includes elephants, a goat, a wolf, pelicans and more. The elusive graffiti artist, […]
California-based HighTechLending, a top-10 lender in the reverse mortgage industry, recently announced that it was rebranding its wholesale channel to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers. One of the ways the company aims to continue making a name for […]
Rural parts of the U.S. have roughly 35% fewer home health aides to assist their aging populations than urban areas do. This is according to research from the University of Minnesota as cited by the Population Reference Bureau (PRB), a private nonprofit research organization that receives funding from the U.S. Census Bureau. Researchers found that […]
Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. The divisional closure comes 1.5 years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. The company will focus on the third-party origination (TPO) space going forward. Employees told HousingWire, […]
“The Administration strongly disagrees with the Eighth Circuit’s decision blocking the Biden Administration’s SAVE plan. If allowed to stand, this ruling would force millions of borrowers to pay hundreds of dollars more each month. And the decision’s reasoning could also deny loan forgiveness to individuals who were expecting it after up to 25 years of […]
More evidence is emerging that the recent decline in mortgage rates is prompting more borrowers to refinance. In its July 2024 Market Advantage report released on Monday, mortgage technology firm Optimal Blue reported that refinance demand, measured by the level of locked loans, grew to its highest point since September 2022. Data from HousingWire‘s Mortgage […]
New York — In the Ryan Reynolds-Blake Lively box-office showdown, both husband and wife came out as winners. Reynolds’ Marvel Studios smash “Deadpool & Wolverine” remained the top movie in North American theaters for the third straight week with $54.2 million in ticket sales according to studio estimates Sunday. Worldwide, it’s now surpassed $1 billion. “Deadpool […]
NEW YORK — Visitors to corn mazes across the country are finding a familiar and joyous figure in the winding labyrinth of tall stalks. Snoopy. More than 80 farms in the U.S. and Canada have teamed up with Peanuts Worldwide to create “Peanuts”-themed mazes to celebrate the beloved strip’s 75th birthday this summer and fall. A […]
PARIS — Women’s boxing at the Paris Olympics has highlighted the complexity of drafting and enforcing sex eligibility rules for women’s sports and how athletes like Imane Khelif of Algeria and Lin Yu-ting of Taiwan are left vulnerable in the fallout. When eligibility for women’s events has come into question, it often has been a legally […]
NEW YORK — Renowned French high-wire artist Philippe Petit marked the 50th anniversary of his famous walk between New York’s Twin Towers with a performance in a Manhattan cathedral, accompanied by live music from Sting. Petit walked between the spires of the World Trade Center skyscrapers, 1,350 feet up, on August 7, 1974. A photographer captured […]
The reverse mortgage industry’s key performance indicators were split in July, according to data from industry analysts. Home Equity Conversion Mortgage (HECM) endorsements increased by 8% from June to July, with the total of 2,274 falling reasonably in line with Federal Housing Administration (FHA) HECM case numbers. This is according to data compiled by Reverse […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that the San Diego Unified School District in California entered into a resolution agreement to remedy violations OCR found of Title IX of the Education Amendments of 1972. The agreement also resolves a concern that OCR identified about the district’s fulfillment of its […]
Editor in Chief Sarah Wheeler sat down with Melissa Langdale, president and chief operating officer of The Mortgage Collaborative, to talk about the recent FHFA TechSprint focused on gen AI use cases in housing. The use case developed by Langdale and her team was recognized as the most promising use case of gen AI for […]
Mortgage tech firm Blend Labs delivered another loss in the second quarter of 2024 even as it signed deals with new customers across the mortgage and consumer banking channels. But executives expect a shift in the landscape due to declining interest rates, which may help them achieve profitability in the final three months of the […]
PARIS — Sprinter Noah Lyles revealed he had COVID-19 after missing out on another gold medal for the United States at the Paris Olympics on Thursday. Elsewhere, French basketball star Victor Wembanyama moved closer to his dream of a first gold after helping Les Bleus beat Germany to set up a dream final against the U.S. […]
Guild Holdings Co., the parent company of Guild Mortgage, delivered a profit in the second quarter of 2024, mainly due to the performance of its growing servicing portfolio. Meanwhile, its origination volume increased by 69% from April to June compared to the previous quarter but at lower margins. Net income in Q2 2024 increased to […]
The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) on Thursday announced an expansion of relief measures to homeowners on the Hawaiian island of Maui who are seeking to rebuild single-family homes after the devastating wildfire that destroyed the town of Lahaina. This week marks the one-year anniversary of […]
After 25 years at Intuit, Glenn McGillivray has joined Rocket Companies, the parent of Rocket Mortgage, in the newly created role of chief people and places officer, the company confirmed on Thursday. McGillivray will be responsible for the growth and development of the company’s workforce, including oversight of Rocket’s human resources and diversity, equity and […]
Global credit rating agency DBRS Morningstar this week assigned a “good” rating to reverse mortgage industry leader Finance of America (FOA), reconfirming the ranking the company was assigned at a similar point last year. The rating is officially classified as “MOR RVO2” by Morningstar. The agency noted the recent business history of FOA — including […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that the Minneapolis Public School District in Minnesota has entered into an agreement to ensure compliance with Title IX of the Education Amendments of 1972 with respect to the district-wide athletics programs at its high schools. details ⇒ BusinessMediaguide.Com portal received this content […]
Christopher George, the founder of California-based multichannel mortgage lender CMG Financial, has struck a deal to acquire Greenwoods Financial Group, the owner of Greenwoods State Bank. Financials of the deal were not disclosed. George will become an indirect wholly owner of a $575 million FDIC-state chartered bank based in Lake Mills, Wisconsin, that offers products […]
VIENNA, AUSTRIA — The 19-year-old Austrian who masterminded a foiled plot to attack Taylor Swift fans at a concert in Vienna with a bomb or knife had pledged allegiance to the Islamic State militant group, authorities said on Thursday. The main suspect, who has North Macedonian roots, made a full confession in custody, Austria’s general director […]
`The White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities (HBCUs) is proud to announce the 2024 cohort of HBCU Scholars, marking the 10th anniversary of this transformative program. details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business metrics that show improvement. This is according to the company’s Q2 2024 financial results, as well as statements given […]
Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found that the seasonally adjusted refinance index increased […]
The U.S. Department of Education (Department) today announced that the 2025-26 Free Application for Federal Student Aid (FAFSA® form) will be launched through a new process. Starting on October 1, the Department will release the 2025-26 FAFSA form for testing with a limited set of students and institutions. The Department will make the application available […]
California-based mortgage lender loanDepot reduced its financial loss in the second quarter of 2024 while still feeling the impacts of a January cyberattack. During the three-month period, the company increased its volumes and margins while implementing an efficiency program and selling mortgage servicing rights (MSRs). On Tuesday, loanDepot reported a non-GAAP adjusted net loss of […]
Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should […]
Mortgage industry executives are on alert amid the global stock-market meltdown caused by fears that the Federal Reserve may have kept the federal funds rate too high for too long, which could bring the U.S. economy into recession. Tensions in the bond markets have provoked a decline in mortgage rates, which is good news for […]
The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. At HousingWire‘s Mortgage Rates Center on Tuesday, the 30-year conventional loan rate averaged 6.8% — a new low point for […]
Today, the U.S. Department of Education is pleased to launch the Power Your Future Challenge — the second challenge in its annual CTE Momentum series to prepare high school students for rewarding careers and increase access to career and technical education. The Department invites teams to submit action plans that will advance the use of […]
Lower continues to make moves designed to support its expansion efforts, hiring former Waterstone Mortgage executive Dustin Owen as its new divisional sales leader and senior vice president of growth. Owen, who is based in the Orlando area, spent the past 16 years at Waterstone, most recently as its vice president of Eastern division sales. […]
The National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter to Ginnie Mae acting president Sam Valverde, offering their thoughts and perspectives on the government-owned company’s proposed supplemental Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. That program, referred to by industry participants as “HMBS 2.0,” was […]
Massachusetts Gov. Maura Healey (D) has signed a $57.8 billion state budget for 2025, which features several provisions designed to assist the state’s senior residents with health care, food assistance and aging-in-place provisions like home-based care. This is according to announcements by Healy’s office and AARP. Signed into law on July 29, the budget features […]
Rising home prices managed to outpace an all-time high of $13.8 trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 trillion in the second quarter of 2024. On top of that, tappable home equity reached a new high of $11.5 trillion, a 4% gain compared to the first quarter and […]
Fears of a recession in the U.S. sent shockwaves through financial markets around the world on Monday. The Dow-Jones dropped 1,000 points by 10:30 a.m. Eastern time, the NASDAQ lost up to 6% of its value and Japanese stocks suffered their biggest crash since 1987, with the Nikkei 225 stock index dropping 12.4%. The turbulence […]
CreditXpert stands apart in the industry by offering innovative solutions that emphasize credit optimization over traditional credit repair. In this executive conversation with Mike Darne, VP of Marketing, we explore how CreditXpert is delivering precise credit optimization solutions and their commitment to making homeownership more accessible and affordable. HousingWire: CreditXpert brings value to people in […]
Geneva — Switzerland’s Locarno Film Festival opens on Wednesday with Shah Rukh Khan, Jane Campion, Alfonso Cuaron and Irene Jacob set to be honored with special awards. Founded in 1946, Locarno is one of the world’s longest-running annual film festivals and focuses on auteur cinema. Held on the shores of Lake Maggiore, in the Italian-speaking Ticino […]
New York — After 10 days in theaters, “Deadpool & Wolverine” is already the highest-grossing R-rated movie ever, not accounting for inflation. In its second weekend, the Marvel Studios blockbuster starring Ryan Reynolds and Hugh Jackman continued to steamroll through movie theaters, collecting $97 million according to studio estimates Sunday. That raised its two-week total to […]
PARIS — Faith leaders gathered with Olympic officials Sunday morning in front of Notre Dame Cathedral to celebrate how “faith and sport can complement each other,” in the words of International Olympic Committee President Thomas Bach. The 2024 Paris Games got off to a rocky start with many religious groups around the world, including the Vatican. […]
LOS ANGELES — Aerosmith says Steven Tyler’s voice has been permanently damaged by a vocal cord injury last year and the band will no longer tour. The iconic band behind hits such as “Love in an Elevator” and “Livin’ on the Edge” posted a statement Friday announcing the cancellation of remaining dates on its tour and […]