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Cardinal Financial Wholesale has introduced Cardinal Complete, a new loan processing solution aimed at streamlining operations for mortgage brokers. The platform offers an end-to-end processing service designed to reduce administrative burdens and improve efficiency from application to closing. The service, powered by Cardinal Financial’s proprietary loan origination system, Octane, provides brokers with a dedicated team […]

There was no surprise on Wednesday as the Federal Open Market Committee (FOMC) chose to leave the federal funds rate unchanged at a range of 4.25% to 4.5%. The decision was almost universally expected by market observers as the Federal Reserve weighs data that could be pushing the U.S. toward a recession. The short-term direction […]

Better Home & Finance Holding Co. on Wednesday reported its financial results for the fourth quarter and full year of 2024. The earnings release touted growth compared to 2023 and detailed the company’s plans of “diversifying Better’s offering, and leveraging Tinman to power local loan officers” through a new program. Better shared an update on […]

Mortgage applications decreased 6.2% from last week, which marked the first decrease in several weeks. That’s according to the latest data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 14, 2025. The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis […]

Editor in Chief Sarah Wheeler sat down with Chad Smith, president and COO of Better Mortgage, to talk about leadership, technology, and how they have pivoted their business strategy to meet the needs of this market. Smith joined Better in May 2024 after serving in senior leadership roles at Mission Loans, Caliber Home Loans and […]

Reverse mortgage business in the early part of 2025 has been humming along consistently, though not exactly “booming” as mortgage rates remain elevated and lenders are moving on their own initiatives to expand business and further forge partnerships with the forward mortgage side of the industry. This is according to descriptions by some of the […]

The state of the U.S. housing market — particularly its levels of affordability, available inventory and accessibility for those with mobility or cognitive challenges — presents a unique challenge for older Americans on fixed incomes. This has led to a “failure” to properly serve the senior cohort. These are the assertions of a report published […]

Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs. Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from licensed agents. The collaboration aims to simplify policy management and renewals while helping […]

Mortgage rates appear to have plateaued after several weeks of steady downward movement. On Tuesday, 30-year conforming rates were at 6.79% and 15-year conforming rates were at 6.58%, according to HousingWire’s Mortgage Rates Center. The 30-year rate is unchanged from a week ago while the 15-year rate has risen by 12 basis points. The Federal […]

In the wake of broader regulatory pullback by the federal government, Wells Fargo announced this week that the Office of the Comptroller of the Currency (OCC) terminated a 2021 consent order over loss mitigation deficiencies in its home-lending business, which itself also stemmed from what the OCC said was a result of the bank violating […]

Had things worked out differently, Monday would have been Michael Brennan’s 10-year anniversary at Movement Mortgage, a company he thought he’d work at until retirement. Brennan joined Movement in 2015 as a regional manager, organically growing the Northeast to a $3 billion a year operation. He climbed the ladder to the role of president, and […]

Not wasting any time following his Senate confirmation last week, Federal Housing Finance Agency (FHFA) Director Bill Pulte made a series of major changes to the boards of government-sponsored enterprises Fannie Mae and Freddie Mac according to filings with the Securities and Exchange Commission (SEC). The news was first reported by Inside Mortgage Finance. Based […]

Verification technology company Xactus on Monday announced the launch of its open API portal, which allows partners to access integration rules that enable a faster, easier way to integrate their own tools or platforms with Xactus360, an Intelligent Verification Platform (IVP). “Launching our open API portal is a major milestone in Xactus’ journey to becoming […]

More state attorneys general are getting in on the Real Estate Settlement Procedures Act (RESPA) action. In mid-January, Pennsylvania’s former attorney general Michelle Henry filed a kickback lawsuit against Barry Newhart and six mortgage entities he controls: Bright Financial Group, Conquest Mortgage, Flagship Home Loans, Legacy Mortgage Partners, Nittany Home Loans, MCT Financial, Conquest Holdings […]

A bill being deliberated in the Washington State Senate regarding a foreclosure mediation program would except reverse mortgage borrowers over the age of 61. However, this would not include slightly younger borrowers seeking a proprietary reverse mortgage within the state, and the National Reverse Mortgage Lenders Association (NRMLA) has requested that the bill be updated […]

The Mortgage Collaborative‘s (TMC) Emerging Technology Fund hosted its seventh annual Mortgage Tech Demo Day (MTD) on March 16 at the collaborative’s “Live Large, Think Big!” conference in Arlington, Texas. Sponsored by Docutech, MTD allows early-stage mortgage tech companies to showcase their technology to industry leaders, investors and venture capitalists. Six forward-thinking startups were selected […]

Since the inauguration of President Donald Trump, his administration has aggressively sought to curtail the functions of the Consumer Financial Protection Bureau (CFPB). This has led to a coordinated legal response from a cadre of its employees and consumer advocacy groups, seeking to reverse some of the administration’s actions. But one industry that has emerged […]

Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nation’s leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025. This was some of the perspective shared this week by Kristen Sieffert, president […]

Following a series of moves by key White House leaders at the Office of Management and Budget (OMB) and the U.S. DOGE Service that are ostensibly designed to limit or dismantle the Consumer Financial Protection Bureau (CFPB), its former director appeared Friday morning on CNBC to discuss the upheaval while warning consumers about the risks […]

Toronto-based TD Bank and Hicksville, New York-based Flagstar Bank have announced plans to shutter numerous branches across several states. TD Bank confirmed to American Banker that it intends to close 38 branches in 10 states and Washington, D.C. And a recent bulletin from the Office of the Comptroller of the Currency (OCC) show that Flagstar […]

Bill Pulte, the newly confirmed director of the Federal Housing Finance Agency (FHFA), is wasting no time in making a splash with Fannie Mae and Freddie Mac, suggesting they too might receive the DOGE treatment that other government entities have already experienced. In a series of messages posted to his X account on Friday morning, […]

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $40 on each loan they originated in Q4 2024, a decrease from the reported net profit of $701 per loan in Q3 2024. That’s according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report, released today. Of […]

In what seems to have become an ongoing tradition, lawmakers in Congress are bringing the federal government ever closer to a partial shutdown due to an impending lapse in appropriations scheduled for Friday, March 14 if they can’t agree on a funding plan. The impacts are likely to be felt across a wide swath of […]

Mortgage industry veterans Eli Fairfield and Brian Keranen have joined Everett Financial (dba Supreme Lending) as regional directors for the Pacific Southwest, the company announced. Fairfield and Keranen bring decades of experience in mortgage lending, as loan originators and managers in California. In recent years, they have focused on mentoring loan officers and tailoring their […]

Nationwide mortgage loan servicer Cenlar FSB announced today that Andrew Pohlmann has joined the organization as senior vice president of business development. Pohlmann, who brings 30 years of experience to Cenlar, formerly served as Rate’s CMO. He confirmed the new role in a post on LinkedIn. “We are thrilled to welcome Andrew to the team. […]

The U.S. Senate on Thursday confirmed Bill Pulte to serve as the new director of the Federal Housing Finance Agency (FHFA). Pulte succeeds Sandra Thompson, who led the agency under the Biden administration but left before the inauguration of Donald Trump. Pulte was confirmed in a vote of 56-43, with one senator not voting, an […]

Home equity increased nationally by $281.9 billion in the fourth quarter of 2024, an increase of 1.7% year over year, according to the latest CoreLogic Homeowner Equity Report (HER), released Thursday. But the report also noted rising negative equity in some sunbelt states, along with Oregon and Washington, D.C. The report shows that U.S. homeowners […]

Vice Capital Markets, a mortgage hedge advisory firm for independent lenders, banks and credit unions, announced Thursday that it is the first to integrate Fannie Mae’s new loan pricing application programming interface (API) into its trading portal. The API simplifies the loan pricing and commitment process by consolidating multiple pricing APIs into one. This gives […]

Reverse mortgage leader Finance of America (FOA) recorded a quarter-over-quarter loss in the fourth quarter of 2024, but still notched a full-year profit. In a Wednesday earnings call, company leaders outlined their assessment of the reverse mortgage market moving forward, describing 2024 as a year of “momentum” for the company owing to the achievement of […]

ICE Mortgage Technology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes. The company this week announced the debut of ICE Asset Analyzer and ICE Audit Analyzer, adding to the existing ICE Income and ICE Credit analyzers. The products, which are fully integrated into the Encompass […]

Evergreen Home Loans has expanded into New Mexico, opening branches in Albuquerque and Carlsbad. The locations will be led by area manager Barry Abt, the company announced Wednesday. Evergreen, a direct mortgage lender serving the western U.S., provides origination, funding and servicing for home loans. “We are excited to bring the Evergreen Home Loans experience […]

zavvie, a Colorado-based iBuyer and fintech company, has launched an AI-powered platform, HomeFAI, that is designed to accelerate the speed of cash offers and funding for homebuyers. The new system is described as an upgrade to zavvie’s portal for cash buyers and boosts its Cash Buy Before Sell program, giving homeowners added financial flexibility to […]

loanDepot on Wednesday released its financial results for the fourth quarter and full year of 2024. The earnings report showcased a mixed picture for the Irvine, California-based mortgage lender. While the earnings report showed that loanDepot is making progress in revenue growth and operational efficiency, achieving sustained profitability is proving to be more difficult. In […]

Mortgage applications increased 11.2% on a seasonally adjusted basis from last week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 7, 2025. On an unadjusted basis, the index increased 12% compared to last week. The refinance index saw a 16% uptick from the previous week […]

Since it was originally founded in the wake of the 2008 financial crisis, the Consumer Financial Protection Bureau (CFPB) has been a chief figure in the regulatory enforcement of the mortgage industry, including the reverse mortgage business. But recent reports suggest that the Trump administration will aggressively scale back the bureau’s headcount and seek to […]

The Trump administration has cut millions of dollars in federal funding from two cybersecurity initiatives, including one dedicated to helping state and local election officials. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has ended about $10 million in annual funding to the nonprofit Center for Internet Security, a CISA spokesperson told The Association Press […]

Spring officially arrives next week and the 2025 housing market could heat up too, if the recent declines in mortgage rates are any indication. Data at HousingWire’s Mortgage Rates Center on Tuesday shows that 30-year conforming rates are averaging 6.79%, down 10 basis points (bps) from a week ago. And the 15-year conforming rate has […]

Global consulting and actuarial firm Milliman Inc. is expanding into the residential mortgage business, and it’s picked up Sterling Point Advisors‘ Jeff Juliane and Brett Ludden to lead the effort. Ludden and Juliane will focus on providing comprehensive advisory services to mortgage lenders, servicers and investors. “We are thrilled to welcome Jeff and Brett to […]

Following the controversial actions of the U.S. DOGE Service’s attempts to severely reduce the headcount and enforcement capacity of the Consumer Financial Protection Bureau (CFPB), the agency’s chief operating officer has offered more details about efforts to scale back the agency. In an evidentiary hearing stemming from a lawsuit brought by the National Treasury Employees […]

PennyMac Financial Services Inc. on Tuesday announced the appointment of Isaac Boltansky as managing director and head of public policy. “Pennymac is pleased to welcome Isaac to our strong team of industry professionals. In moments of industry transformation, it is critical to have leaders who understand the ecosystem with the expertise to shape the future […]

Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital, DST Global and NFX along with new investor Progressive Insurance. Tomo, which was founded in 2020 by former Zillow executives […]

Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. Milestone, the largest brokerage in Massachusetts over the past three years, said the companies will be able to combine Willow’s top-drawer proprietary technology platform with Milestone’s federal registration and […]

A reverse mortgage-related bill that was introduced in the Maryland state Senate that would have put the onus on lenders to cover some extra expenses tied to the Home Equity Conversion Mortgage (HECM) origination process has been withdrawn by the sponsoring senator after conversations with reverse mortgage industry representatives. Senate Bill 831 would have required […]

HomeVision, a collateral underwriting and appraisal review platform, has partnered with artificial intelligence (AI) firm Restb.ai to integrate computer vision technology into real estate valuation processes. The collaboration will incorporate Restb.ai’s AI-powered image recognition into HomeVision’s Machine Intelligence Review Assistant (MIRA) platform. The companies say the technology will improve appraisal accuracy, automate parts of the […]

Rate, formerly known as Guaranteed Rate, has hired Drew Church to its team as a senior vice president and regional sales manager. Church confirmed the news in a LinkedIn post on Sunday evening. Church, who is based in Charlotte, joins Chicago-headquartered Rate from Integrity Home Mortgage Corp., where he served as regional sales manager from […]