PARIS — LGBTQ+ athletes, officials and observers have warned that a deluge of hateful comments misidentifying female boxer Imane Khelif in the Paris Olympics as transgender or a man could pose dangers for the LGBTQ+ community and female athletes. The concerns come as famous figures — from former U.S. President Donald Trump to Harry Potter author […]
NANTERRE, France — The party for Léon Marchand spread beyond the pool, quickly sweeping across Paris. At Stade de France, hosting the first night of track and field, an enormous ovation broke out when Marchand won his fourth gold medal of the Olympics. The roar was so loud that the first heat of the 400-meter run […]
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans […]
Meanwhile, the bid-to-value ratios for both types of auctions declined from two-year high points in May. Winning bids at foreclosure auctions in June declined to an average of 58.7% of a property’s estimated after-repair value (ARV), while those at REO auctions averaged 58.6% of the ARV. Foreclosure-auction bid-to-value ratios declined by at least 10% on […]
The Federal Housing Administration (FHA) announced on Friday that it has published a final rule in the Federal Register opening 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 housing issues […]
Santa Ana, California-based mortgage services and data firm Consolidated Analytics announced on Friday that it has acquired the assets of investor claims and loss-analysis company Investor Claim Solutions (ICS). Consolidated Analytics is a private company and terms were not disclosed. The company stated that the acquisition will help it improve its overall market position as […]
The U.S. Department of Education’s Office for Civil Rights (OCR) today announced that Drexel University in Pennsylvania has entered into a resolution agreement to ensure compliance with Title VI of the Civil Rights Act of 1964 (Title VI) when responding to allegations of discrimination or harassment based on national origin, including shared Jewish ancestry. details […]
Two lenders based in New Jersey have struck an M&A deal. OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc., which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s president and CEO, Justin DeJoseph, emailed employees on July 25 to announce the transaction. In the message reviewed […]
Despite some recent relief from mortgage rates, top executives at the parent of Rocket Mortgage continue to expect a challenging landscape for the industry in the coming months, mainly due to regulatory changes, low affordability levels and consolidation. What will be their playbook? Leaders at the Detroit-based Rocket Companies say they will continue to invest […]
Sen. Mike Braun, R-Indiana., and a coalition of eight other Republican U.S. Senators are taking aim at energy-efficiency standards for new housing construction, citing the additional costs they would add to the purchase of new homes. In April, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) settled […]
West Palm Beach, Florida-based Onity Group, the parent company of top-five reverse mortgage lender Liberty Reverse Mortgage, recorded a decline in income during the second quarter of 2024. Despite the financial result, Onity — formerly known as Ocwen Financial Corp. — is doubling down on the reverse mortgage space by entering into an agreement to […]
Connecticut-based Ellington Financial, the parent company of top-10 reverse mortgage lender and servicer Longbridge Financial, announced this week that it has completed a securitization backed by a pool of proprietary reverse mortgages. The $232 million securitization closed on Thursday and was backed by a pool of proprietary reverse mortgages, all of which were originated by […]
The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily. On Wednesday, Fed Chair Jerome Powell […]
The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack of competition among third-party providers. On top of “click fees” that CHLA said are charged […]
Elementary, middle and high school graduates across all U.S. states, outlying areas, and military bases selected by principals for academic achievement recognition details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Homebuyers often adjust their plans for the uncertainty that an election year can bring. With less than 100 days until the 2024 election, a majority of buyers are taking note. That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. […]
Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. That’s according to a new report from ATTOM Data Solutions that found that in the second quarter of 2024, 49.2% of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the […]
EAUBONNE, France — Growing up in cutthroat New York gave Lauren Scruggs the competitive mindset needed to claim an unexpected fencing silver medal on her Olympic debut in Paris. The 21-year-old Queens native shared the podium with fellow American Lee Kiefer, who retained her Olympic title in the women’s individual foil event gold medal bout on […]
Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0. The new term sheet detailed several differences from the existing HMBS program, including a reduction in the HMBS pool […]
Technology and outsourcing solutions company a360inc announced on Wednesday that it has acquired ProVest, a Tampa-based process and litigation information services provider for creditors. Some of a360inc’s key constituencies include mortgage lenders, servicers and investors, as well as title agencies. The deal includes an investment in a360inc by the funds managed by Morgan Stanley Investment […]
Paris — As a gay youth growing up in central France, Hugo Bardin never felt he lived in a world that represented who he was — a world in which he had a place. And that is why Bardin, who performs as the drag queen Paloma, felt it was meaningful and important to be part of […]
Like its peers, New York-based asset manager Rithm Capital, the owner of multichannel lender Newrez, has invested in building an extensive servicing portfolio over the past few years. This has occurred both organically and through acquisitions as Rithm aims to retain customers when mortgage rates decline from current levels. But Michael Nierenberg, the company’s chairman, […]
In the ever-evolving world of mortgage servicing, delivering an exceptional customer experience at every stage of the customer’s journey is a crucial differentiator. Having spent my career focused on transforming and maintaining an outstanding customer experience specific to our industry, I’ve learned that creating a customer-focused team isn’t achieved through policy, technology, or even training. […]
The Biden-Harris Administration today announced that it will begin the next step toward providing student debt relief to tens of millions of borrowers this Fall. Starting tomorrow, the U.S. Department of Education (Department) will begin emailing all borrowers with at least one outstanding federally held student loan to provide updates on potential student debt relief, […]
San Diego-based Smartfi Home Loans, which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I am thrilled to announce that I have started my new role as president […]
As a majority of older adults continue to express an overwhelming preference for aging in place in their homes, any decision needs to be made with a full understanding of a particular senior’s needs, capabilities, and access to essential services and people. This was an idea shared by Wayne State University gerontology professor Amanda Leggett […]
Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire. A total of 5,652 mortgage-related complaints were submitted to the bureau between Jan. 1 and March 31, 2024. That total fell […]
By: Abigail Swisher, Rural Impact Fellow, Office of Elementary and Secondary Education Sam Smith – then a student at Daviess County High School in Owensboro, Kentucky – saw that his classmates were struggling in the wake of the pandemic, so when Kentucky Lieutenant Governor Jacqueline Coleman asked if Sam and his peers on the Commissioner’s […]
As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off. HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That figure was unchanged from the same time last week. The 15-year […]
As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (USMI). “Private mortgage insurance continues to help buyers qualify […]
Mr. Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank‘s servicing assets. On Monday, the mortgage lender and servicer said that its debt offering to qualified investors through subsidiary […]
The NAHB analyzed census data and found that the median age of a U.S. home has grown from 31 years in 2005 to 40 years in 2022. The builder trade group also concludes that “over the long run, the aging of the housing stock implies that remodeling may grow faster than new construction.” The homes […]
Mortgage technology solutions provider CoreLogic on Tuesday announced that its AutomatIQ Borrower tool is expanding to include asset and liabilities analysis capabilities. The company aims to make the product a “one-stop analysis solution for mortgage lending financial institutions,“ it said in its announcements. AutomatIQ Borrower is designed to provide greater integrity and reliability in the […]
Officials in Montana continue to promote the specialized Reverse Annuity Mortgage (RAM) program for the state’s seniors, with one official saying that it could be a big difference-maker for those in Montana looking to age in place while gaining access to additional cash. The program was passed by the Montana Legislature in 1989 and offers […]
Home equity lending in 2023 grew by only 1.5% compared to the prior year, while outstanding debt increased by 8.3% in the same time period, according to a study released Monday by the Mortgage Bankers Association (MBA). The data includes total originations of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans. […]
There are plenty of challenges for renters and homebuyers this year, especially when it comes to affordability. But technology — particularly leveraging generative AI — can help solve these challenges in new ways. At least, that was the premise of the FHFA’s 2024 TechSprint last week, which focused on innovative housing use cases for gen AI. […]
Mortgage lenders loanDepot and Movement Mortgage have agreed to end a one-year dispute over the poaching of employees, according to a document filed Friday in a district court in Delaware. In June 2023, California-based loanDepot accused its competitor of damaging its business by hiring more than 25 of its employees in a three-month period. According […]
The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. This guide will walk you through the need-to-knows, helping you thrive in today’s mortgage scene without getting bogged down in legalese. […]
By: Matt Nosanchuk, Deputy Assistant Secretary for Strategic Operations and Outreach, Office for Civil Rights, U.S. Department of Education All students deserve access to learning environments that are inclusive and free from discrimination and that nurture their intellect, wellbeing, and creativity, preparing them for success in school and beyond. Books have been the gateway to […]
Midyat, Turkey — Through a basement door in southeastern Turkey lies a sprawling underground city — perhaps the country’s largest — which one historian believes dates back to the ninth century before Jesus Christ. Archaeologists stumbled upon the city-under-a-city “almost by chance” after an excavation of house cellars in Midyat, near the Syrian border, led to […]
NEW YORK — Edna O’Brien, Ireland’s literary pride and outlaw who scandalized her native land with her debut novel “The Country Girls” before gaining international acclaim as a storyteller and iconoclast that found her welcomed everywhere from Dublin to the White House, has died. She was 93. O’Brien died Saturday after a long illness, according to […]
CHADDS FORD, Pa. — At first glance, it looks like an aerial photo of a cemetery destroyed by war, with charred coffins ripped from broken concrete vaults and arched marble tombstones flattened by a bomb blast. Then, the viewer begin to discern details: the coffins and vaults are actually parts of a keyboard. Instead of names […]
HOUSTON — The gold bikini-style costume that Carrie Fisher wore as Princess Leia while making “Return of the Jedi” in the “Star Wars” franchise has sold for $175,000, according to the auction house that handled the sale. The costume was made famous when Fisher wore it at the start of the 1983 film when Leia was […]
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HONG KONG — Three of the world’s top auction houses are racing to expand in Hong Kong, eager to woo young Asian buyers even as the global art market retreats from pandemic-era highs. In the span of two months, Sotheby’s, Christie’s and Bonhams will each see the culmination of yearslong efforts to upgrade their regional headquarters […]