The newest data on outstanding residential mortgages has been released via the Federal Housing Finance Agency (FHFA)’s National Mortgage Database. It tells a pretty strong story on the financial strength of the American homeowner. Even after three years of rising interest rates and a painful housing market recession, the lasting effects of the post-pandemic boom […]
Mortgage applications decreased 1.6% from last week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 28, 2025. The index decreased 1% on an unadjusted basis compared with the previous week. The refinance index decreased 6% from the previous week but was still 57% higher than […]
The current reverse mortgage industry market leader, Mutual of Omaha Mortgage, announced on Tuesday that it has launched a new proprietary reverse mortgage product, with initial availability in California and Florida. The product line, known as SecureEquity, is available to homeowners as young as age 55. It offers adjustable- and fixed-rate options with a maximum […]
Baby boomers have overtaken millennials as the largest share of homebuyers, making up 42% of all purchases in the past year, according to a report from the National Association of Realtors (NAR). Millennials, who previously led home-buying trends, now account for 29%, down from 38% the previous year. NAR’s 2025 Home Buyers and Sellers Generational […]
Canadian investment powerhouse Brookfield Asset Management Ltd. has agreed to buy a majority stake in Angel Oak Companies, the holding company for a non-QM lender and investor that manages more than $18 billion in mortgage assets. Brookfield will take a 50.1% stake in Angel Oak, offering its own investors access to the firm’s residential mortgage credit […]
The U.S. Department of Housing and Urban Development (HUD) this week unveiled a new website, explaining that as much as 90% of the material from the former site has been cut to eliminate redundancies and “streamline” the user experience. “Providing the best and highest quality service to rural, tribal and urban communities means that critical […]
It’s an important week for the global economy as President Donald Trump’s pending trade policies are poised to have a massive impact on the costs of goods and services. They could also precipitate harsher conditions for a housing market that has yet to fully unfreeze. HousingWire’s Mortgage Rates Center shows that rates have flatlined in […]
United Wholesale Mortgage (UWM) announced today it has again extended its “60bps for 60 Days” program, which provides independent mortgage brokers with a 60 basis points pricing advantage on loans. Initially launched in December 2024, today’s announcement marks the second extension of the program, which is now set to conclude on May 31. This pricing incentive […]
Mr. Cooper Group is once again making headlines. Today, A&D Mortgage announced the official closing of its acquisition of the wholesale and non-delegated correspondent mortgage business from Mr. Cooper Group. The news comes just a day after Rocket Companies announced its acquisition of Mr. Cooper, which is to be completed by Q4 2025, in an […]
Late last week in an email update to its members, the National Reverse Mortgage Lenders Association (NRMLA) announced that reverse mortgage software pioneer Jerry Wagner, founder of Ibis Software, died in February. Prior to embarking on his forays into the reverse mortgage industry, Wagner served as chief operating officer for San Diego Financial Corporation, at […]
Rocket Companies’ industry-shaking plan to acquire Mr. Cooper in a $9.4 billion deal comes just weeks after the Detroit-based lender announced its acquisition of real estate brokerage Redfin for $1.75 billion. Rocket CEO Varun Krishna and Mr. Cooper CEO Jay Bray — who is slated to report to Krishna as the president and CEO of […]
For nearly five years, former U.S. Marine Samuel Royer has spearheaded efforts to pass the HELPER Act, a bipartisan bill designed to make homeownership more accessible for America’s civil servants — including teachers, first responders, EMTs and law enforcement officers. The act would provide affordable mortgage opportunities without requiring a down payment or monthly mortgage […]
UWM Holdings Corp., the parent of United Wholesale Mortgage (UWM) on Monday named Rami Hasani as its new chief financial officer, effective April 1. Former CFO Andrew Hubacker, who took on the role in February 2023, will be moving into a new role as a senior adviser effective April 1, UWM confirmed. external reporting; financial […]
Following a rise to an all-time high in the second quarter, senior-held home equity saw a modest decline in the third quarter and endured a more severe drop in the fourth quarter. Homeowners 62 and older saw their collective home equity levels drop by 1% in Q4 2024 to a total of $13.95 trillion. That’s […]
Rocket Companies is buying Mr. Cooper, America’s largest mortgage servicer, in arguably the biggest transaction in the modern history of the mortgage industry. The Detroit-based fintech, which is also in the midst of acquiring Redfin for $1.75 billion, is paying an equity value of $9.4 billion, the companies said in a statement early Monday morning. […]
In the newest episode of the Power House podcast, mortgage industry veteran Dave Lykken joins host Diego Sanchez live from HousingWire‘s Housing Economic Summit. They explore the current mortgage industry climate, when Lykken expects interest rate stabilization to occur, and strategies for connecting with consumers. This conversation has been edited for length and clarity. Sanchez […]
In the latest twist involving the Consumer Financial Protection Bureau (CFPB), a federal judge in Washington, D.C., on Friday ordered the reinstatement of all employees who were laid off last month by acting director Russell Vought. Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia issued her ruling in conjunction […]
Three federal banking regulators announced their intent to issue a proposal that would rescind the Community Reinvestment Act (CRA) final rule issued in October 2023. Friday’s announcement involves the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC). The agencies plan to reinstate the CRA framework […]
Rithm Acquisition Corp. (RAC), a special purpose acquisition company (SPAC) that was created solely to raise money through an initial public offering (IPO) in order to acquire another company, recently closed its IPO of 23 million units. Per RAC, each $10 unit consists of one Class A ordinary share and one-third of a redeemable warrant […]
Amid industrywide conversations and proposed legislation to address consumer privacy and protection regarding trigger leads, Idaho has stepped up to the plate. Idaho Gov. Brad Little (R) signed H.B. 149 into law last week. The bill introduces a new section called “Consumer Privacy in Mortgage Applications” to the Idaho Residential Mortgage Practices Act. The new […]
Nearly 70% of American workers say they’re unlikely to save enough to meet their retirement needs. And that’s only part of the bleak outlook gleaned from the 6,135 responses to a survey released earlier this month by the Transamerica Center for Retirement Studies (TCRS). Most respondents expressed concerns about achieving the same financial security as […]
U.S. homebuyers continued making historically large down payments in late 2024, responding to a year of record-high upfront housing costs, according to a Realtor.com report. The typical down payment in the fourth quarter was $30,250, slightly below the previous quarter but roughly $3,000 above results from late-2023. For all of 2024, buyers put down an […]
Following the submission of a report from a subject matter expert by Texas Capital Bank (TCB) in its ongoing suit against Ginnie Mae over reverse mortgage collateral, the presiding judge has rejected a challenge by the government and will allow the report to be submitted as part of the record. TCB said the former executive, […]
Another day, another series of policy changes at the Federal Housing Finance Agency (FHFA). On Wednesday, the regulator directed Fannie Mae and Freddie Mac to revise their respective radon policies for multifamily properties. The FHFA also issued an order ending a requirement for the government-sponsored enterprises (GSEs) to engage in joint discussions and share information […]
The Department of Housing and Urban Development (HUD)’s order to “crack down” on non-permanent residents receiving mortgages insured by the Federal Housing Administration (FHA) is a “setback,” the leader of the nation’s largest Hispanic real estate trade group said Wednesday. Gary Acosta, the co-founder and CEO of the National Association of Hispanic Real Estate Professionals […]
Mortgage affordability remained flat in February as the national median monthly payment for purchase loan applicants remained unchanged at $2,205. That figure is up $21, or 1%, from a year ago. That’s according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time relative […]
Self-branded “financial fitness” platform FinLocker announced Wednesday that it will cover 100% of the verification costs for mortgage borrowers who use lenders’ FinLocker-powered apps. The company calls the move an “industry-first initiative.” According to data from the Community Home Lenders of America, verification of income, employment and assets typically costs up to $280 per mortgage […]
In an extraordinary move stemming from a 2020 redlining lawsuit, an official working with the Consumer Financial Protection Bureau (CFPB) at the behest of the White House Office of Management and Budget (OMB) alleges that the bureau improperly sought a lawsuit against Chicago-based nonbank mortgage lender and brokerage Townstone Financial, according to court filings reviewed […]
Seeking to align with recent executive orders issued by President Donald Trump, the Federal Housing Administration (FHA) announced on Wednesday the publication of a new mortgagee letter (ML) that restricts qualification for FHA-backed mortgages to U.S. citizens or permanent residents. The measure applies to all Title II single-family mortgage programs, including the Home Equity Conversion […]
While many measurements of retirement readiness suggest that older Americans will fall short of maintaining their quality of life after completing their careers, the overwhelming majority of retirees (92%) report in surveys that they are either “moderately” or “very” satisfied. This disconnect may mean that retirement satisfaction surveys may not be the most helpful tools […]
United Wholesale Mortgage (UWM) announced Wednesday that it is extending its removal of Loan Level Pricing Adjustments (LLPAs) on government loans for borrowers with a FICO score of 600 and above. The program applies to Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) loans. LLPAs, which are fees based on a borrower’s risk […]
As the Trump administration aligns government policies with its priorities on broader issues, the Federal Housing Administration (FHA) on Wednesday published new guidance that directs all FHA loan programs to implement a U.S. citizenship or permanent residency requirement. The guidance in two documents — ML 2025-09 and TI Letter 490 — applies to Title I […]
Purchase applications saw a slight uptick even as overall mortgage applications decreased 2.0% from last week, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 21, 2025. The index decreased 2.0% on a seasonally adjusted basis from one week earlier, and on an unadjusted basis, the […]
The current concept of retirement planning in the U.S. is “dangerously incomplete,” and the recent high-profile deaths of actor Gene Hackman and his wife Betsy Arakawa illustrate why longevity planning needs a more central role in the conversation. Joseph Coughlin, the director of the Massachusetts Institute of Technology (MIT) AgeLab — which is focused on […]
As the scrutiny of home equity investment (HEI) products has accelerated, credit ratings agency Fitch Ratings this week released a report explaining its approach to such products, reiterating that it does not rate them. While some other ratings agencies have opted to provide assessments for such products, Fitch continues to avoid “provid[ing] rating criteria for […]
In a series of posts to his account on social media platform X, Federal Housing Finance Agency (FHFA) Director Bill Pulte published housing orders that terminate special purpose credit programs (SPCPs) and rescinds a 2024 advisory bulletin detailing the agency’s enforcement against unfair or deceptive acts or practices (UDAP). Pulte did not include separate comments […]
FHFA Director Bill Pulte said Tuesday that he won’t cut the conforming loan limits for loans bought by Fannie Mae and Freddie Mac, ending speculation that the Trump administration would look to substantially shrink the size of the two GSEs through limiting the size of loans they could buy. This is according to reporting by […]
Mortgage rates have leveled off over the past two weeks after consistent declines since the start of the year. HousingWire‘s Mortgage Rates Center showed that 30-year conforming loan rates averaged 6.80% on Tuesday, up 1 basis point in the past week, while 15-year conforming rates increased by 9 basis points and averaged 6.67%. Although the […]
Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private real estate lending platform specializing in short-term bridge, fix-and-flip, construction and land development loans. The agreement is designed to fit the New York-based lender’s asset-based underwriting model, allowing for greater flexibility in how capital […]
What’s the deal with all the discussion across the lending community about the fluctuation of the loan officer population recently? There have been social media posts and editorials debating the current total number of loan officers, whether the population has decreased, and if so, by how much. That’s not the right focal point: It’s time […]
In March 2024, Fannie Mae launched a title waiver pilot program that allowed approved lenders to use an automated title review process to assess title risk during loan manufacturing and prior to loan purchase. The pilot is limited to certain refinance loans with loan-to-value ratios less than 80% in certain geographic areas. But one year […]
Following initial reactions by trade groups and senior advocacy organizations to a new in-person identity verification requirement from the Social Security Administration (SSA), others are weighing in about the potential challenges that older Americans could face if the requirement is fully implemented. Last week, SSA announced that beneficiaries who are unable to complete their identity […]
Prospective buyers face numerous obstacles on their journey to homeownership, with access to credit often serving as a major hurdle. Mortgage denial rates vary significantly across the U.S., with some states seeing far higher rejection rates than others, according to a new report from the National Association of Realtors (NAR). Three Southern states recorded the […]
New York-headquartered Rithm Capital, the parent company of multichannel lender Newrez, on Monday announced the successful closing of what it calls the largest-ever mortgage servicing rights (MSR) debt issuance. The MSR-backed note totals $878 million and is only the second nonrecourse MSR securitization in market history, following Rithm’s $461 million offering in November 2024. This […]
Amid a series of shakeups last week at the government-sponsored enterprises (GSEs) and its regulator, the Federal Housing Finance Agency (FHFA), two office closures inside the agency could hamper its fair lending and data gathering efforts that support the broader mortgage industry. The Trump administration has moved quickly to scale back the headcount of the […]