Homebuyer affordability improved modestly in February as the national median payment applied for by purchase applicants fell to $2,061, down from $2,070 in January, according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI). PAPI tracks how new monthly mortgage payments change over time relative to income, using data from MBA’s weekly applications […]
Better Home & Finance Holding Co., the parent of digital lender Better.com, and Coinbase have launched a token-backed product that allows qualified borrowers to pledge Bitcoin or USDC as collateral for a conforming mortgage down payment, without selling their digital assets. The product, announced Thursday, is originated and serviced by Better, with Coinbase providing digital […]
On Wednesday, Fannie Mae and Freddie Mac adopted extensive changes to their requirements for approvals of condominium projects that are eligible for their loan purchase. The changes created more flexibility and affordability with respect to replacement cost and deductible requirements for condo insurance– but took a step backward by ending authority for what are called […]
Better Home & Finance Holding Co. announced Wednesday that it has appointed Hugh Frater, a founding partner of BlackRock and former CEO of Fannie Mae, to its board of directors as the company leans further into its Tinman AI mortgage platform. Frater, whose role became effective March 23, brings experience spanning mortgage-backed securities (MBS), agency […]
A former US Mortgage Corp. employee has filed a class-action complaint against the company following a data breach that occurred in May 2025, claiming that the incident could have been avoided if not for the company’s negligence. Richard Bernich, who brought the suit individually and on behalf of a proposed class of all individuals in […]
Friday Harbor, an AI-powered mortgage origination platform, said Wednesday that national retail lender Waterstone Mortgage has implemented its pre-underwriting technology to improve loan file quality and expand underwriting capacity across the company’s nationwide retail channel. Waterstone Mortgage, which said it has more than 200 loan officers operating in 48 states, deployed Friday Harbor’s platform to […]
The Mortgage Industry Standards Maintenance Organization (MISMO) announced Tuesday that it has published two new title and settlement data standards in candidate recommendation status: the ALTA Title Policy Dataset and the ALTA Settlement Statement Dataset. Developed in partnership with the American Land Title Association (ALTA), the datasets map ALTA’s widely used title and settlement forms […]
A group of employees at Summit Funding, most of them in back-office roles, are being laid off but may receive job offers from CrossCountry Mortgage (CCM) as part of the companies’ pending M&A deal, according to filings with California authorities. Cleveland-based CCM agreed last week to acquire Sacramento-based Summit Funding, a move that expands its […]
Independent mortgage brokers working with United Wholesale Mortgage (UWM) now have access to a new tool that allows borrowers to earn rewards on their mortgage payments, the company announced on Wednesday. The program, called “Built-In Rewards,” is being rolled out as UWM brings loan servicing in-house. UWM-closed loans will also be serviced by UWM and […]
Mortgage applications decreased 10.5% from one week earlier as high oil prices are keeping Treasury yields inflated, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 20, 2026. On an unadjusted basis, MBA’s index decreased 10% compared with the previous week. “The threat of higher-for-longer oil […]
Most mortgage companies have gotten very good at recruiting. You can measure recruiting. You can count heads. You can show momentum on a spreadsheet and call it growth. Development is harder to quantify. It takes time, structure, and discipline, especially when the market is moving and everyone is tempted to chase short-term volume. But if […]
The California Mortgage Bankers Association (CMBA) testified on March 20 before the California Assembly Banking & Finance Committee during an oversight hearing on California Assembly Bill 238, which focuses on the effectiveness of mortgage forbearance and the broader challenges facing homeowners affected by the state’s January 2025 wildfires. AB 238 provides up to one year […]
Washington state’s Covenant Homeownership Program is under investigation by the U.S. Department of Housing and Urban Development (HUD) over potential violations of the Fair Housing Act. HUD’s Office of Fair Housing and Equal Opportunity (FHEO) notified the Washington State Housing Finance Commission, which administers the program, of the probe on Tuesday. The investigation comes days […]
U.S. Sen. Josh Hawley (R-Mo.) has opened an investigation into Fair Isaac Corp. (FICO)’s pricing practices in the mortgage industry and is urging Federal Trade Commission (FTC) Chairman Andrew Ferguson to do the same. FICO dominates the credit scoring market for mortgage lenders, largely due to decades of exclusive acceptance for loans sold to Fannie […]
More than 43.5 million U.S. properties are at moderate or greater risk from hail damage, representing about $17.84 trillion in reconstruction cost value, according to Cotality’s 2026 Severe Convective Storm Risk Report released Tuesday. The report finds that hailstorms are emerging as one of the most financially destructive natural hazards for the housing market, with […]
As tax day approaches, 70% of Americans say they are concerned about taxes on their income in retirement, up from 66% last quarter, according to the Q1 2026 Quarterly Market Perceptions Study from the Allianz Center for the Future of Retirement, part of Allianz Life Insurance Company of North America. The study, which was conducted […]
Incentives have always driven mortgage lending. Loan officers originate loans. Lenders compete for production. Borrowers search for the lowest available rate. Regulators work to ensure fairness across the process. Over time, these competing forces produced a complex economic architecture designed to keep loan production flowing through an already intricate financial system. For decades, that architecture […]
The Trump administration on Friday issued a “comprehensive national legislative framework” regarding artificial intelligence (AI) policy, aimed at boosting U.S. innovation while protecting consumers, children and national security. The proposal outlines six broad priorities aimed at positioning the U.S. as a global leader in AI while building public trust in the rapidly evolving technology. The […]
Kentucky-based Stockton Mortgage fired back against two former employees’ claims that the company accessed their personal email accounts multiple times in 2025 and used the messages in separate litigation. Two former loan officers, Christopher Hoehn and Ashley Hoehn, filed a complaint last week in the U.S. District Court for the Northern District of Alabama. The […]
Detroit-based Rocket Companies is offering voluntary separation packages to some employees as part of its consolidation following last year’s acquisitions of Mr. Cooper Group and Redfin. “Rocket, Mr. Cooper and Redfin share a vision of a stronger, more connected homeownership platform built for long-term strength,” a Rocket spokesperson said. “As integration has progressed, we identified […]
Rep. Eric Swalwell (D-Calif.) has dropped a lawsuit that accused Federal Housing Finance Agency (FHFA) Director Bill Pulte of violating federal privacy laws. The parties agreed to the “dismissal of this action without prejudice, with each side bearing its own fees and costs,” according to court filings. The move means that Swalwell could refile or […]
Cleveland-based CrossCountry Mortgage (CCM) has entered the bidding battle for Two Harbors Investment Corp., facing competition not only from UWM Holdings Corp. — which already has a signed agreement — but also from another unsolicited bidder offering a higher all-cash price. Market speculation that CCM was behind a $10.70-per-share cash offer surfaced late last week, […]
Balance Homes on Monday announced enhancements to its co-ownership program, which is designed to guide homeowners back to full, independent ownership through structured support and financial incentives. The updates come just two months after the company announced its relaunch backed by a $30 million investment led by Falco Group. Participants in Balance’s program begin with […]
Florida-based Onity Group announced that mortgage subsidiary PHH Mortgage Corp. has rebranded as Onity Mortgage, a move that was anticipated and became effective Monday. “Today marks another important milestone in our multi-year transformation as PHH Mortgage officially becomes Onity Mortgage,” Glen Messina, chair, president and CEO of Onity Group, said in a statement. “This change […]
Every mortgage lender knows that declined loans represent marketing spend, staff time and operational resources that never convert into funded loans or revenue. Those losses add up quickly in a margin-sensitive environment. In Q3 2025, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net production profit of $1,201 per loan […]
Two former loan officers have sued Stockton Mortgage Corp., alleging the company illegally accessed their personal email accounts and used private messages in separate litigation against them. Christopher Hoehn and Ashley Hoehn filed the complaint on Wednesday in the U.S. District Court for the Northern District of Alabama. They claim that Stockton and unidentified employees […]
If you work in mortgage banking long enough, you learn to watch the signals. Rates move.Consumers react.The agencies adjust.And the industry pivots. We watch these indicators because they tell us where the market is going. But there’s one signal the industry often overlooks — and ironically, it might be the most predictable one of all. […]
As the spring homebuying season approaches, mortgage lenders and servicers are watching closely for signs of a long‑awaited inflection point. Interest rates have begun to ease, buyer sentiment is improving, and some sidelined demand is cautiously reentering the market. Lower rates will matter. But they are not, on their own, enough. Experience from the last […]
Growing uncertainty over Social Security, Medicare and fiscal policy has left many older Americans more concerned about their financial futures — with some delaying retirement and shifting to more conservative investment strategies. Findings from a new survey analysis by the Center for Retirement Research at Boston College offer critical insights for reverse mortgage professionals as […]
Borrowers are still anchored to ultra-low, pandemic-era mortgage rates, a mindset that is influencing both purchase and refinance trends as the market heads into 2026. That’s according to Mike Vough, Optimal Blue‘s senior vice president of corporate strategy, who highlighted the company’s latest Market Advantage report in a conversation this week with HousingWire at the […]
Federal bank regulators on Thursday introduced proposals to overhaul capital rules, affecting how depositories treat mortgage assets. The package includes three measures: revisions to the Basel III framework for large, internationally active banks; changes to the Global Systemically Important Bank (GSIB) surcharge; and updates to the U.S. standardized approach. A broader Basel III proposal introduced in 2023 […]
Palantir Technologies and mortgage outsourcing firm Moder have formed a strategic partnership to co-build an artificial intelligence (AI)-powered mortgage operations platform, with Freedom Mortgage servicing the first pilot customer, the companies announced Thursday. The platform combines Palantir’s data and AI infrastructure with Moder’s mortgage operations expertise to automate and standardize key workflows, according to the […]
United Holding Corp., the parent of United Wholesale Mortgage (UWM), is facing new competition in its bid to acquire Two Harbors Investment Corp., which may force the company to sweeten its offer for the real estate investment trust (REIT). A competing bidder has offered $10.70 per share in cash, valuing the company at roughly $1.12 […]
Over the past several months, former President Donald Trump has floated a number of ideas aimed at helping Americans buy homes again. Among them are proposals such as 50-year mortgages and other creative financing tools intended to lower monthly payments for buyers struggling with today’s interest rates. The intention behind these ideas are novel and […]
Following in the footsteps of an initial dataset for 2025, Reverse Market Insight (RMI) and HECMWorld published updated numbers this week for reverse mortgage broker and third-party originator activity. While the top Home Equity Conversion Mortgage (HECM) originators for January 2026 did not vary from 2025 as a whole, they offer insight into which companies […]
President Donald Trump’s executive order targeting mortgages addresses several concerns raised by banks and nonbanks, which have largely welcomed it as a road map for regulatory change. But it’s also receiving pushback from consumer advocates. Friday’s order on “promoting access to mortgage credit” aims to boost lending by community banks (with less than $30 billion […]
Cleveland-based CrossCountry Mortgage (CCM) has struck a deal to acquire Summit Funding, broadening its geographic reach, the companies announced Wednesday. Financial terms of the transaction were not disclosed. “In 2025, we financed 1 in 35 homes sold nationwide, ranking as the No. 1 retail mortgage lender,” Ron Leonhardt, founder and CEO, told HousingWire. “This acquisition […]
Data courtesy of the Mortgage Bankers Association Walsh went on to note that, between the third and fourth quarters of 2025, the average IMB saw production volume rise, while revenues declined and the overall cost to originate stayed relatively flat. This was tied in part to increased Independent mortgage banks (IMBs) and mortgage subsidiaries of […]
Mortgage applications decreased 10.9% from one week earlier, according to the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending March 13. On an unadjusted basis, the index decreased 10% compared with the previous week. “Mortgage rates continued to move higher, driven by increasing Treasury yields as the conflict in the Middle […]
Older Americans now hold as much real estate wealth as middle-aged homeowners, illustrating the widening gaps in homeownership access and long-term home price gains. An analysis from Redfin, based on data from the Federal Reserve Board, found that Americans ages 70 and older controlled roughly 26% of the nation’s $48 trillion in real estate wealth […]
Finance of America (FOA) has expanded access to its HomeSafe Second product into Indiana, Ohio and Michigan, giving senior homeowners more options for tapping record levels of home equity without giving up their low post-pandemic mortgage rates, the company announced Tuesday. Reintroduced in 2023 as what the company called the industry’s first second-lien reverse mortgage, […]
Top banks in the mortgage space, which have relied on a similar playbook for years, say they could become more active if upcoming changes to capital rules provide more flexibility, several industry executives told HousingWire. But any shift in strategy is expected to take time. Depositories typically focus on their existing customer base, ranging from […]
“Just when I think things are falling in place, another wild card arrives,” Mortgage Bankers Association (MBA) president and CEO Bob Broeksmit said Tuesday morning at ICE Experience’s X26 annual mortgage conference. In a conversation with ICE Mortgage Technology President Bob Hart that spanned recent executive orders, mergers and acquisitions, and artificial intelligence, Broeksmit admitted […]
Mortgage rates saw moderate increases in the past week as global economic uncertainty around the U.S.-Iran conflict continues, putting a damper on what was previously expected to be a brisk spring homebuying season. Mortgage News Daily reported Friday that 30-year fixed rates spiked to a seven-month high point of 6.41% before retreating to 6.36% on […]
Intercontinental Exchange Inc. on Tuesday morning unveiled a suite of artificial intelligence-powered voice and chat agents for mortgage servicing, along with new automation tools, during its annual ICE Experience (X26) conference. The company said the agents, currently in beta testing, are designed to help homeowners manage their loans and complete servicing-related tasks within governed processes. […]