While mortgage production remained under pressure at top banks in the first quarter of 2025—aligning with market expectations—uncertainty looms over what the future may hold. Bank executives anticipate negative impacts from the ongoing trade war sparked by President Trump’s increase in tariffs. However, they remain hopeful that a potential deregulatory agenda from the current administration […]
Varun Krishna is back. And the timing couldn’t be more electric. The Rocket Companies CEO returns to the stage at The Gathering 2025 for a keynote fireside chat – just months after shaking up the housing landscape with the huge acquisitions of Mr. Cooper and Redfin. Krishna is executing a bold strategy to integrate real […]
ICE Customer Acquisition ICE Customer Acquisition is a powerful, integrated solution built for lenders using the Encompass LOS. Highlights: Boost lead generation by up to 28% Accelerate pipeline growth with smarter, automated engagement tools Mobile apps for lenders and borrowers Stay connected and informed with intuitive, on-the-go solutions Automated, timely borrower communication Stronger relationships without […]
Reverse mortgage professionals have long sought financial advisors as referral sources, but might find that those professionals are not particularly willing to entertain the notion that the product would be right for their clients. But when confronted with volatility in the markets, advisors who are more concerned with the risk of loss might start to […]
For retirees who are contemplating a move to a state with lower or no income tax, they may find that they should consider other realities of their final destination. Focusing solely on income taxes without considering other associated costs may not bring about the savings they hope for or expect. This is according to a […]
The trigger leads bill, which failed to pass the House of Representatives in late December 2024 despite Senate approval, was re-introduced to the 119th Congress Thursday morning. Simultaneously, a slew of mortgage brokers associated with the Brokers Action Coalition (BAC) sealed the end of BAC’s three-day Advocacy In Action conference by heading to Capitol Hill […]
Rising tariffs and shifting global trade policies are adding strain to insurance markets, particularly in homeowners insurance and auto coverage, according to a recent analysis by the American Agents Alliance. Higher costs for imported materials such as automotive parts and construction supplies are pushing up claims expenses, which in turn may raise premiums for both […]
On an online database tracking a series of issues the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) is tracking related to the Home Equity Conversion Mortgage (HECM) program, there are four open recommendations the office is currently tracking. Three of them, however, are largely centered on the same […]
As it continues to navigate post-disaster recovery needs, the city of Asheville, North Carolina this week has submitted an updated action plan to the U.S. Department of Housing and Urban Development (HUD), aiming to garner approval so that the city can access an estimated $225 million in assistance funds to support its recovery efforts from […]
With the impending end of a veteran-focused foreclosure assistance program’s acceptance of new applications on May 1, the Mortgage Bankers Association (MBA) continues to sound the alarm over proceeding without something to replace it. On Wednesday, the House of Representatives Committee on Veterans’ Affairs Subcommittee on Economic Opportunity has scheduled a markup of several veteran-focused […]
Mortgage applications jumped 20.0% from the prior week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications Survey for the week ending April 4, 2025. On an unadjusted basis, the index increased 20% compared with the previous week. The refinance index increased 35% from the previous week as mortgage rates took a […]
Despite long maintaining a reputation as being behind the times of technology development — whether that is due to a perception of being slow-to-adopt emerging technologies, or due to regulatory compliance concerns — one top 10 reverse mortgage lender has now rolled out hybrid e-closing processes for its Home Equity Conversion Mortgage (HECM) business. Fairway […]
A bipartisan duo of members in the House of Representatives who largely operate with very different political positions have come together to begin what they’re calling an “initiative to gather public input” on the potential reauthorization of two federal housing programs. Reps. Mike Flood (R-Neb.) and Emmanuel Cleaver (D-Mo.), the chairman and ranking members, respectively […]
As communities impacted by the devastation of Hurricanes Helene and Milton continue to pick up the pieces, the Federal Housing Administration (FHA) on Tuesday announced that it has further extended a moratorium on foreclosures and evictions for any FHA-financed single-family mortgages inside the designated Presidentially-Declared Major Disaster Areas (PDMDAs) associated with those disasters. Set to […]
Over 100 employees of Fannie Mae have been fired after allegedly engaging in unethical conduct, the U.S. Federal Housing Finance Agency (FHFA) and Fannie Mae announced Tuesday. Bill Pulte, the director of the FHFA who also chairs the boards of the GSEs, posted an official announcement regarding the firings on social media platform X on […]
We’re in the nation’s capital this week for the Mortgage Bankers Association‘s annual Advocacy conference. Headliners this year include HUD Secretary Scott Turner, Sen. Thom Tillis (R-NC), Sen. Pete Ricketts (R-NE), Sen. Elizabeth Warren (D-MA), Sen. Mark Warner (D-VA), Rep. Lisa McClain (R-MI), and Ritchie Torres (D-NY). They’ll be sharing the latest on the Hill […]
Empower Mortgage, part of the Equity Prime Mortgage family of brands, has appointed Rogelio Goertzen as its chief growth officer. He will drive the wholesale lender’s strategic expansion, fostering greater financial inclusion for Hispanic, Latino and other underserved communities. Goertzen, the founder of Hispanic Organization of Mortgage Experts (HOME), said in a statement that for […]
Reverse mortgage industry performance metrics have continued their soft trend into the third month of the year, though activity in the secondary market was slightly higher than the month prior. Home Equity Conversion Mortgage (HECM) endorsements fell in March based on rate increases observed in the late period of 2024, while HECM-backed securities (HMBS) issuance […]
For those who are within five years of retirement — either those who are five years away, or who have recently entered — the market volatility being experienced today as a result of the White House’s embattled tariff policy are likely to endure challenges as they navigate the potential impacts of market volatility. This is […]
Over the past few days on social media platform X — his public megaphone of choice — Federal Housing Finance Agency (FHFA) Director Bill Pulte this past weekend rescinded two orders rescinding previous policy with a focus on diversity, equity and inclusion (DEI) before offering public-facing comment on his approach to reforming the government-sponsored enterprises […]
In a letter to agency stakeholders and grantees last Friday, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner effectively doubled down on a recently-announced policy aiming to restrict Federal Housing Administration (FHA) financing to U.S. citizens and permanent residents. On Feb. 19, President Donald Trump issued an executive order aiming to “prevent […]
The National Association of Mortgage Brokers (NAMB) today announced the official launch of Hive, an online community platform designed to foster nationwide collaboration, knowledge sharing and professional development for mortgage professionals. Hive, which is led by NAMB’s Growth Officer Jason Frazier, is open to join starting today by accessing an online forum. Frasier, who has […]
At the end of February, ICE says there were 5.4 million recent vintage mortgages (2022-2025) with rates of 6.5% or higher, including 2.5 million at or above 7%, which could equal heavy refinance opportunities in the upcoming months if rates continue to trend downward. Supply continues to increase There is a notable cooling in home […]
Mortgage rates recently hit a year-to-date low, coinciding with ongoing market disruptions from tariffs. The more encouraging story, however, is that the spring season is shaping up positively for the housing market. Notably, purchase applications show growth both year-to-date and year-over-year. Additionally, our weekly pending contract data and new listings are trending positively compared to […]
Anthony Savala Savala has spent more than 15 years in the mortgage technology sector. He served for the past two years as vice president of sales at TRUE. Before that, he worked in business development leadership roles at Reston, Virginia-based mortgage software company RETR announced this week that it has hired two new senior leaders […]
Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. The Platinum Peak product suite aims to offer higher available loan-to-value (LTV) ratios, which are designed to translate into higher loan proceeds for borrowers, according to the announcement. The Peak […]
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Older Americans are apparently choosing to stay put in greater numbers despite the fewer restrictions on their time granted by retirement. Between 2023 and 2024, moving activity among retirees dropped by nearly one-quarter (23.8%), according to data from the U.S. Census Bureau that was compiled by moving services company HireAHelper. Based on the data, 258,000 […]
Saluda Grade, an alternative investment firm with a focus on residential real estate finance, announced this week that it hired Jim Boothby as its head of global business development. Boothby has more than 25 years of experience in credit, business development and investor relations. He comes to Saluda Grade after working as the global co-head […]
The U.S. Department of Veterans Affairs (VA), under the leadership of director Doug Collins, is reportedly moving to end the Veteran Affairs Servicing Purchase (VASP) program, which attempts to prevent foreclosure actions against military members who may be experiencing financial hardship due to the consequences of the COVID-19 pandemic. According to reporting from multiple outlets, including […]
Much to the surprise of economic analysts, the U.S. economy added 228,000 nonfarm payroll jobs in March, according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). “Despite growing concerns about economic uncertainty, job growth was robust across many sectors last month,” Lisa Sturtevant, the chief economist at Bright MLS, said in […]
A lawsuit over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender has been brought to an end with a summary judgment, but the plaintiffs in the case have vowed to appeal the decision. The suit was filed by Texas Capital Bank (TCB) against Ginnie Mae in late 2023. The […]
UWM’s pricing adjustments on agency second home and investment properties, effective April 2, 2025. He said the new pricing was effective immediately and hoped to do it long-term but was at minimum going to keep the program going “for the foreseeable future.” The On April 1, 2022, the mortgage industry was on the wrong end […]
United Wholesale Mortgage (UWM) won’t be sending any more servicing deals to Mr. Cooper Group in response to Mr. Cooper’s pending $9.4 billion acquisition by archrival Rocket Mortgage. But don’t expect the end of the relationship to significantly impact the balance sheet of either lender. As HousingWire exclusively reported on Wednesday, UWM ended its subservicing […]
On a recent episode of the HousingWire Daily podcast, Managing Editor James Kleimann joined Sarah Wheeler to unpack Rocket Companies’ headline-making acquisition of Mr. Cooper — a $9 billion deal that could reshape the mortgage landscape for years to come. Coming on the heels of Rocket’s Redfin acquisition, the move signals the company’s intent to […]
A coalition of nine Democratic U.S. senators have sent a pair of formal letters to Federal Housing Finance Agency Director Bill Pulte over concerns that his recent actions to replace key leaders at the FHFA and the government-sponsored enterprises (GSEs) “do not appear to be consistent,” with federal laws or regulations. On March 31, a […]
The Federal Housing Administration (FHA) on Tuesday issued a waiver on quality control (QC) reviews for some newly distressed mortgages in Southern California as homeowners continue to grapple with the effects of the January 2025 wildfires. The FHA typically requires reviews for mortgages 60 days past due within six months of origination to ensure underwriting […]
United Wholesale Mortgage remained king of the hill when it came to mortgage originations in 2024. The Michigan-based wholesale powerhouse funded $139.8 billion in mortgages, according to recently released Home Mortgage Disclosure Act (HMDA) data from the Consumer Financial Protection Bureau (CFPB). Mortgage and real estate analytics firm InGenius broke down the data at HousingWire’s […]
Wednesday was a busy — and unusual — day for Brian Covey. He started it at Revolution Mortgage, where he’s been EVP of strategy and development since late 2022, and ended it at CrossCountry Mortgage. “What I’ve learned is, the most important thing is your vision and that your values align,” Covey said in an […]
What does UWM’s Mat Ishbia think about Rocket Companies‘ pending $9.4 billion deal for Mr. Cooper? “The truth is, it’s fantastic,” he said on a Wednesday morning sales call with broker partners. “Because sometimes if you think someone is someone, and you don’t really know, and then you see who they really are, it’s very […]
New York-based Roam, a platform for purchasing a home with an assumable low-rate mortgage included, announced on Wednesday that it has secured $11.5 million in Series A funding led by Keith Rabois of Khosla Ventures, who is a co-founder of Opendoor. The announcement from Roam confirmed that Founders Fund also participated in the funding round, […]
ProPublica reported last month that the U.S. Department of Housing and Urban Development (HUD) was considering the deployment of cryptocurrency and blockchain technology to monitor agency grants. This prompted the leading Democrat on the House Financial Services Committee to criticize HUD leadership. Rep. Maxine Waters (D-Calif.), alongside congressional allies Emanuel Cleaver (D-Mo.) and Stephen Lynch […]
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 […]