Mortgage market conditions have improved slightly as the calendar is set to flip to May, but anyone expecting sub-6% rates at the start of the year will be disappointed. Data at HousingWire’s Mortgage Rates Center on Tuesday showed that 30-year and 15-year conforming rates were averaging 6.95% and 6.82%, respectively. These figures were down slightly […]
A U.S. appeals court on Monday restored a temporary block on mass layoffs at the Consumer Financial Protection Bureau, allowing employees to keep their jobs for the time being despite the Trump administration’s plan to cut the agency’s staff by 90%. On Monday, Judges Cornelia Pillard and Gregory Katsas reinstated the ban on mass firings, […]
The state of New Mexico’s latest dedicated aging plan includes an expansion of initiatives designed to help these people maintain their autonomy while supporting their dedicated caregivers, which could boost the aging in place rate. The plan details three goals it says can help support seniors’ desires to age in place and their caregivers, according […]
AmeriHome Correspondent, the country’s largest bank-owned correspondent mortgage investor, has partnered with Snapdocs to facilitate broader adoption of eNotes across its lending network, which includes independent mortgage banks, credit unions and commercial banks. As part of the partnership, AmeriHome will begin accepting eNotes through Snapdocs’ eVault platform. Leaders said the decision is a response to […]
AI is everywhere—dominating headlines, conference agendas, and maybe even your smart refrigerator. And yes, it’s reshaping industries, including mortgages. But if you’re expecting AI to magically transform your business into a fully automated mortgage utopia while you sip your latte, it’s time for a reality check. AI isn’t a magic wand. Its real value (at […]
It’s a busy time to be in the proprietary reverse mortgage space, with new and relaunched products hitting the market and other additional features being added to existing product catalogs. Earlier this month, Longbridge Financial announced the addition of Platinum Peak, a new variation of its private fixed-rate reverse mortgage offering. The Platinum Peak product […]
In an effort to provide options for older Americans who want to avoid costly congregate care facilities and intend to age in place, social work researchers at the University of South Carolina will use federal grant dollars to assess the effectiveness of remote home monitoring systems for people who may have more limited aging support […]
In walking back policies designed to boost participation in foreclosed property sales for nonprofit and government bodies, the Federal Housing Administration (FHA) said that policies put in place in 2022 that restrict certain sales to these entities for a 30-day period have produced “mixed results at best” and will now be rescinded. Mortgagee Letter (ML) […]
Krish Dhokia Dhokia was named a 2023 HousingWire Marketing Leader during his time at California-based Kind Lending, a top 50 U.S. lender. He joined that company as its CMO in March 2022 following a stint at Fairway as vice president of Texas-based analytics and decision management company LENDEM Solutions announced that Krish Dhokia, a former […]
Over a month after Rocket Companies announced its $1.75 billion deal to acquire digital real estate brokerage firm Redfin, industry observers are still trying to understand the future of one key asset: Bay Equity Home Loans. While the companies remain quiet on their plans, some Bay Equity employees aren’t waiting for answers—they’re already looking for […]
With federal oversight shifting under the current administration, some mortgage lenders may feel less pressure to prioritize compliance and loan quality. But, according to industry experts Amanda Phillips, General Counsel and EVP of Compliance at ACES Quality Management, and Richard J. Andreano, Jr., Practice Leader of the Mortgage Banking Group at Ballard Spahr LLP, loosening […]
The environmental, social, and governance (ESG) team at Fannie Mae has reportedly been dismissed in its entirety, according to multiple sources who spoke with HousingWire. Laurel Davis, who served as a senior vice president and head of the company’s mission and impact, was reportedly included in the cuts, alongside the rest of the ESG team’s […]
Reverse mortgage professionals are preparing to travel to Irvine, California, for the industry’s first event of the year, hosted by the National Reverse Mortgage Lenders Association (NRMLA). The association’s Western Regional Meeting is a one-day affair on Tuesday, April 29, that will aim to offer attendees a closer look at the current dynamics of the […]
Home purchase and refinance activity hasn’t exactly been brisk in the opening months of 2025 as prospective borrowers contend with a variety of headwinds. But mortgage origination volumes among the country’s largest lenders are mostly up in the past year. Inside Mortgage Finance (IMF) data for the first quarter of 2025 was released this week. […]
Executives at Rithm Capital, the parent of multichannel mortgage lender Newrez, said on Friday that the firm will not sacrifice earnings for growth, even amid the mortgage industry wave of consolidation represented by the Rocket Companies’ acquisition of Mr. Cooper Group. That doesn’t mean Rithm is sitting on the sidelines. New York-based Rithm plans to […]
Former loanDepot chief financial officer Patrick Flanagan announced on LinkedIn on Thursday that he’s starting a new position as executive vice president of financial strategy at Rate. Flanagan was one of four senior executives brought on during Anthony Hsieh’s tenure at loanDepot who left the company just two months after its founder was ousted from […]
The HECM Tool — a software platform designed to serve as a reverse mortgage sales conversion tool — announced this week that it has integrated the proprietary reverse mortgage offering from Smartfi Home Loans into the platform’s existing visualization and comparison capabilities. The platform was developed by reverse mortgage industry veteran Tane Cabe. It’s designed […]
Following news earlier this month that the U.S. Department of Veterans Affairs (VA) is moving to end the Veteran Affairs Servicing Purchase (VASP) program, the agency this week published a circular to outline the timeline for its closure. It features additional information about the planned end to VASP, including maintaining the previously reported end date […]
Jordan Bernbaum has been feeling anxious these last few weeks. “On the client end, they’re seeing the news and understanding the situation pretty well,” the NEXA Mortgage senior loan officer said. “On my end, it’s a stress-inducing emotional roller coaster of always worrying when I should be locking. I haven’t lost any deals from it […]
Dark Matter Technologies unveiled a new Developer Portal Thursday during its second annual Horizon user conference. The Developer Portal marks an evolution for Dark Matter’s Empower loan origination system (LOS), moving from API access to “a fully open API ecosystem.” The portal also provides external developers with self-service access to documentation, code samples and integration […]
Better.com today announced a new partnership with Biz2Credit, which will provide Biz2Credit’s customers the option to receive $50,000 to $500,000 in additional financing options through Better.com’s Home Equity Line of Credit (HELOC) and Home Equity Loan (HELOAN) products. As a part of the partnership, Biz2Credit customers will be offered a $250 price concession when funding […]
Lenders face constant pressures to scale their operations while maintaining profitability. Growing and retaining a servicing portfolio helps to maintain and diversify the revenue of a mortgage company, but it isn’t always the sole way to increase productivity. That’s where mortgage subservicers come in. Subservicers take over administrative tasks, leaving you and your organization time […]
A proprietary reverse mortgage product first made available prior to the COVID-19 pandemic and before its discontinuation is now making a return, according to an announcement this week by Onity Group. EquityIQ, the proprietary reverse mortgage product from Onity subsidiary PHH Mortgage Corp.’s reverse mortgage brand Liberty Reverse Mortgage, is now available through the company’s […]
The mortgage industry would benefit from an increase in multifamily loan volume for Federal Housing Administration (FHA)-backed loans, and the U.S. Department of Housing and Urban Development (HUD) would be able to facilitate that by ditching rules and requirements without upping the risk for lenders. This is according to a letter submitted to HUD Secretary […]
In their first earnings call since being acquired by Rocket Companies for $9.4 billion, Mr. Cooper executives did not take questions from analysts. But they did provide a glimpse of the opportunities the deal represents for companies in the mortgage space — or how it intends to power the “Apple of homeownership” flywheel. “This transaction is […]
Mortgage applications decreased 12.7% from a week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 18, 2025. The index decreased 11% on an unadjusted basis compared with the previous week. The refinance index decreased 20% from the previous week, but was still 43% higher than […]
PennyMac Financial Services Inc. (PFSI) on Tuesday reported net income of $76.3 million for the first quarter of 2025 after it posted revenue of $430.9 million. These numbers were down from the previous quarter’s figures of $104.5 million and $470.1 million, respectively. The California-based lender’s pretax income was $104.2 million, which was down from $129.4 […]
As it aims to appeal to potential clients who may be taking a closer look at tapping into home equity, reverse mortgage lender Finance of America (FOA) has debuted a new marketing campaign in concert with its new creative agency to illustrate the lifestyle impacts of its products. The campaign, called “A Better Way with […]
Lawmakers in Congress are about to embark on deliberations that will shape government spending, aiming to balance political priorities with the realities of narrow Republican majorities in the House of Representatives and the Senate. But if any conversation turns to imposing larger fees on homeownership transactions, they should be handily rejected. This is according to […]
Mortgage rates had been trending downward for much of 2025, but that’s changed in the past week as markets digest the impacts of a global trade war and investors speculate that the Federal Reserve could lose its independence. At HousingWire’s Mortgage Rates Center on Tuesday, 30-year conforming rates averaged 6.98% — up 20 basis points […]
Spring marks the peak season for the U.S. housing market, with more listings hitting the market and warmer weather making it easier for buyers to tour homes and explore their options. Traditionally, this season brings a surge in purchase activity—and in 2025, that trend is especially important for lenders to watch closely against the backdrop […]
Veteran mortgage executive Randell Gillespie has been named president of Kansas City-based mortgage shop LeaderOne. Gillespie joins LeaderOne following a long stint at Thrive Mortgage and Lower, which merged in early 2024. He most recently served as chief production officer at the combined company before his departure in February 2025. “This company was built for […]
Homebuyers paid an average of $4,661 in closing costs on purchase mortgages last year, according to a new report from LodeStar Software Solutions. The company released its first-ever purchase mortgage closing cost report. The findings showed that, on average, closing costs represented 1.06% of home sale prices at the national level. The median percentage came […]
Mortgage technology platform Prudent AI on Monday announced the promotion of Paul Gigliotti to the role of chief growth officer. Gigliotti has more than 20 years of experience in the mortgage lending and fintech realms, and he will oversee the company’s revenue, sales and marketing strategies. “Paul’s exceptional ability to identify strategic opportunities and forge […]
Following several months of leadership shakeups, program cuts and administrative announcements regarding the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, FHFA Director Bill Pulte took to social media platform X on Monday morning to confirm that he does “not forsee” any more executive leadership changes at the government-sponsored enterprises (GSEs). Pulte’s post […]
CrossCountry Mortgage and digital banking platform Blend on Monday announced an expanded partnership to drive innovation for independent mortgage banks (IMBs). The partnership brings together CrossCountry‘s 7,000-plus employees across more than 700 branches and Blend‘s technology platform that powered nearly $1.2 trillion in loan applications in 2024. As part of this collaboration, the two companies […]
When Sarah Middleton joined Supreme Lending as Chief Marketing and Growth Officer, she brought with her not just an impressive track record of leadership — but a 26-point checklist she uses to evaluate every opportunity. In her recent Power House podcast appearance, Sarah revealed how this detailed framework helped her make one of the biggest […]
Reverse mortgages have a minimum age requirement that serves as a key differentiator for the product. But it also leads to questions about how much — or how little — technology tools can or should interact with the business. But things seemed to take a step forward last week when one of the leading lenders […]
Less than two weeks ahead of its first in-person meeting of the year, the premiere trade association for the reverse mortgage industry has announced preliminary details for both its upcoming regional meeting and its annual meeting and expo slated for later this year. The National Reverse Mortgage Lenders Association (NRMLA) announced in a member update […]
Mortgage lenders shouldn’t interpret the downsizing of the Consumer Financial Protection Bureau (CFPB) as a green light to ease compliance, despite potential mass layoffs and a shift in priorities, industry experts told HousingWire. As part of the Trump administration’s latest moves, more than 1,400 employees, out of 1,700 total, were told they were laid off […]
Nearly half of real estate transactions reviewed in the first quarter of 2025 showed signs of potential wire and title fraud, according to a report from FundingShield. The company analyzed a portfolio of residential, commercial and business-purpose loans totaling approximately $80 billion. It found that 46.8% of these transactions contained issues that could lead to […]
The Mortgage Bankers Association‘s (MBA) Builder Application Survey (BAS) data for March 2025 revealed that mortgage applications for new home purchases increased 5.5% compared to a year ago. Compared to last month, applications increased by 14%. By product type, conventional loans composed 49.0% of loan applications, FHA loans composed 37.0%, RHS/USDA loans composed 0.9% and […]
More than 1,400 Consumer Financial Protection Bureau (CFPB) workers were terminated from their positions on Thursday, sources told WIRED. There were around 1,700 employees in total at the CFPB. Fox Business reports that around 1,500 workers will receive RIF notices across core functions, based on an unnamed source. This move is the latest in the Trump […]
You’ve likely heard it often enough, but just in case you haven’t, older Americans generally prefer to age in place in their own homes by a wide margin. But for those who may be struggling to find support from their caregivers or family members to accomplish this goal, they may instead opt for a congregate […]
Background check provider Checkr is acquiring income and employment verification startup Truework, Truework’s CEO Ryan Sandler confirmed via LinkedIn on Thursday. “Over the past 8 years we have grown an incredible team to over 100 employees, raised 5 funding rounds, called 6 different offices home, operated across 3 cities, had 2 name changes – and […]