Boston-based fintech Stavvy announced a new integration using the latest Encompass Partner Connect Application Programming Interface (API) framework from Intercontinental Exchange (ICE) for mortgage technology. In an exclusive interview with HousingWire, Kosta Ligris, CEO and founder of Stavvy, explained that the news is the official transition from ICE’s legacy Software Development Kit (SDK), which ICE […]
In the most recent episode of the Power House podcast, host and HousingWire President Diego Sanchez sits down with Chris Vinson, CEO of Windsor Mortgage, a division of Plains Commerce Bank. The conversation covers Windsor’s growth and success in recent years, including its focus on wholesale lending, technology and coaching. This interview has been edited […]
A bill in the state of Hawaii that seeks to establish a state-run equivalent of the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program appears to be dead in its current form, having failed to reach key deadlines following its submission to three different legislative committees. This is according to the office of […]
The White House and key leaders aimed at cost-cutting inside the federal government have reportedly trained their eyes on the U.S. Department of Housing and Urban Development (HUD), and that reporting suggests it is culminating in a series of cuts that could include as much as 50% of the department’s workforce of roughly 9,600 people. […]
Older residents of the state of California, meaning those aged 65 or older, made up roughly 14% of the state’s population in 2020. That figure is poised to rise to 22% by 2040, marking a 59% increase, while the number of residents between the ages of 20-64 is projected to remain largely unchanged during that […]
MISMO, the real estate finance industry’s standards organization, on Thursday announced its board of directors for 2025. “MISMO brings key problem solvers together to collaborate on critical issues in the mortgage industry,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), which oversees MISMO. “I welcome this talented group of industry executives […]
On Friday, Fannie Mae reported $17 billion in net income in 2024, down slightly from its $17.4 billion profit in 2023. The government-sponsored enterprise (GSE) had net income of $4.1 billion in the fourth quarter of 2024, marking its 28th consecutive quarter of positive earnings. Fannie Mae president and CEO Priscilla Almodovar said during Friday’s […]
The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau (CFPB) suggests that, despite the “delete” rhetoric around the bureau, the consumer watchdog isn’t going to be de-fanged and sent to the kill shelter just yet. McKernan, a well-respected, veteran financial regulator with prior stints at the Treasury Department, Federal Housing Finance Agency […]
If there are winds of change at the Consumer Financial Protection Bureau (CFPB), small and midsized nonbank mortgage lenders are hoping to slip the clutches of the consumer watchdog they say is, in many ways, duplicitous and unnecessary. In a letter sent Wednesday to CFPB acting director Russell Vought, the Community Home Lenders of America […]
The White House has reportedly solicited information from staff at the U.S. Department of Housing and Urban Development (HUD) to justify the existence of various contracts. According to reporting by NPR, a spreadsheet was sent to employees, asking them to assess the importance of contracts, whether or not they have diversity, equity and inclusion (DEI) […]
In a Wednesday afternoon LinkedIn post by chief technology officer Jason Bressler, United Wholesale Mortgage (UWM) announced that it’s partnering with Sphere LOS to provide its first direct integration with the broker community. Bressler’s post offered reasons for the partnership. He noted that Sphere has an “all in one” workflow of the most-used products in […]
San Francisco-based private lender Kiavi announced on Thursday that it has secured $300 million in capital after another securitization of its residential transition loans (RTLs). As the 21st transaction made under the company’s LHOME Mortgage Trust, Kiavi’s total volume of notes offered sits at $5.8 billion since 2019. Kiavi reported that the offered notes were […]
Jonathan McKernan’s nomination to be the next permanent director of the Consumer Financial Protection Bureau (CFPB) didn’t come out of left field, but it still surprised many housing finance insiders given all that’s happened at the consumer watchdog over the last two weeks. McKernan’s nomination came on the heels of Elon Musk‘s baby-faced DOGE lieutenants […]
Freddie Mac recorded a net income of $3.2 billion for Q4 2024 and $11.9 billion for the full year 2024, it reported this morning. The full-year net income figure marked an increase of 13% from 2023. Comprehensive income increased 11% from 2023 to $11.9 billion. In its earnings call, Freddie Mac’s Executive Vice President and […]
Loan locks for refinances rose more than 20% year over year while purchase lock counts saw a 6% decrease, according to Optimal Blue‘s January 2025 Market Advantage mortgage data report released Thursday. Purchase lock volume climbed 16% from December, but year-over-year counts – which control for home-price appreciation – were down 6%. That marked the […]
Housing leaders are naturally interested in knowing how recent cost-cutting efforts by the federal government could be focused upon the U.S. Department of Housing and Urban Development (HUD) and its wide array of programs, including reverse mortgages. In the first Trump administration, housing officials took a measured but disruptive approach to stem losses to the […]
New data from U.K.-based financial services firm Legal & General shows that as many as 11% of all couples over the age of 50 use their real estate wealth — either through the proceeds of a home sale or a home equity release product — to finance the costs of divorce. “The research, which explored […]
California-based mortgage lender loanDepot on Wednesday announced the expansion of its equityFREEDOM portfolio to provide nearly 50 million U.S. homeowners with access to their tappable home equity. The expansion adds 10- and 30-year fixed-term options to the company’s existing 20-year fixed-rate home equity loan, which the company has designed as complements to its first-lien and […]
Dallas-based Mr. Cooper Group presented its fourth-quarter 2024 earnings on Wednesday morning. The company had a robust end to the year in which it delivered a $204 million profit and $235 million in pretax operating income. “The fourth quarter capped off an outstanding year for Mr. Cooper, with an operating ROTCE (return on tangible common […]
Mortgage applications increased 2.3% on a seasonally adjusted basis in the latest MBA survey. This follows the prior week’s 12% increase in refinance applications, which marked the strongest refi week in months. The Mortgage Bankers Association‘s market composite index increased 6% on an unadjusted basis compared with the previous week. Continuing a strong streak was […]
Entering the mortgage industry as a loan officer can be both exciting and overwhelming. With a 100% commission-based structure, success isn’t guaranteed — it’s earned. The first year is crucial for developing the habits, relationships, and skills that lay the foundation for long-term success. I’ve spent years in the industry, and as my son prepares […]
The Oregon state senate’s Committee on Housing Development held a hearing last week on a piece of proposed legislation that seeks to limit the amount of equity a reverse mortgage lender can receive after the sale or transfer of a property. Industry representatives contend that if enacted, the bill could potentially halt the availability of […]
If you’ve heard it once, you’ve heard it a thousand times: Older Americans want to age in place in their own homes, and they also want to remain in their current communities. But these desires could clash with a reality that many communities across the country simply don’t have the resources to support seniors, according […]
Mortgage credit availability ramped up in January, according to a report released Tuesday by the Mortgage Bankers Association (MBA) that analyzed data from ICE Mortgage Technology. The MBA’s Mortgage Credit Availability Index (MCAI) increased by 250 basis points (bps) on a monthly basis to 99.0 in January 2025. By comparison, the index rating was 92.7 […]
High interest rates and home prices are causing some prospective homebuyers to avoid applying for a mortgage. But despite this trend, some buyers are willing to adjust their loan term expectations to achieve homeownership, according to a recent report by real estate technology company REsimpli. REsimpli questioned 1,200 respondents who had plans to buy or […]
The long-range forecast for mortgage rates has dimmed in recent months, but stability has returned to the market more recently as rates are slowly creeping back down toward 7%. Still, all types of prospective homebuyers — whether they’re a Gen Z worker searching for a starter home, a millennial looking for more space or a […]
ICE Mortgage Technology on Monday announced several enhancements to the Encompass loan origination platform, including a rate lock comparison tool that enables lenders to automatically detect and adjust for changes to a loan that may affect pricing and eligibility. The “Rate Lock Comparison Tool,” which is integrated with Encompass’s product and pricing engine (PPE), enables […]
Rocket Companies’ return to the Super Bowl on Sunday marked not only a milestone for the company’s calculated rebrand but a new level of connection between the financial services sector and online influencers. While many mortgage professionals have taken to apps like TikTok, LinkedIn and Instagram to make housing-related content, the influencers who posted “reaction” […]
The recent developments surrounding the Consumer Financial Protection Bureau (CFPB) have left many in the mortgage industry wondering what comes next. With Acting Director Russell Vought halting all rulemaking, enforcement actions and examinations, some may be tempted to believe that the regulatory burden on Independent Mortgage Banks (IMBs) is lifting. However, this assumption is dangerous. […]
The National Treasury Employees Union, which represents federal employees in 37 federal agencies and offices, has filed suit against Russell Vought, the director of the White House Office of Management and Budget (OMB), over actions he has taken to scale back the activities of the Consumer Financial Protection Bureau (CFPB) since being appointed as its […]
Residential real estate capital provider Kiavi announced Monday that it is expanding into 13 additional states, broadening the company’s reach to 45 states and Washington, D.C. The expansion includes the states of Alaska, Delaware, Hawaii, Idaho, Iowa, Louisiana, Maine, Montana, Nebraska, New Hampshire, North Dakota, South Dakota and Wyoming. “Kiavi’s expansion into these 13 additional […]
Rocket Companies is not one to shy away from the spotlight. Within the last few years, leadership additions of Varun Krishna, Katie Sweeney and Dan Sogorka to the team and an auspicious rebrand announced at the start of the year have put Rocket in the financial services spotlight. It makes sense that Rocket is returning […]
Russell Vought, the newly named acting director of the Consumer Financial Protection Bureau (CFPB), is shutting down most of the bureau’s functions and has cut off its funding from the Federal Reserve. In a letter to bureau staff on Saturday night, Vought directed them to: 1. Stop all supervision activity that has not been approved […]
Another jobs week has come to an end, and amid the chaotic headlines about job numbers, tariffs, and the leadership of the Treasury, mortgage rates remained calm. Better mortgage spreads are limiting how high rates can rise in 2025. This situation contrasts with the challenges the market faced in 2023, during the banking crisis when […]
President Trump’s shake-up of the Consumer Financial Protection Bureau continues. On Friday night, Russell Vought, the architect of the Project 2025 plan and the newly confirmed director of the White House Office of Management and Budget, emailed top staffers at the CFPB to inform them that he’d been named acting director, according to the Wall Street […]
Russell Vought, an architect of Project 2025 and the current head of the Office of Management and Budget (OMB), is the new acting head of the Consumer Financial Protection Bureau (CFPB), the Wall Street Journal reported late Friday night. Vought emailed top staffers at the agency to inform them that he’d been named acting director, […]
A bill introduced into the Oregon Senate that seeks to limit the amount of equity a reverse mortgage lender can receive after the sale or transfer of a property could potentially halt the availability of proprietary product offerings in the state. This is according to a version of the bill reviewed by HousingWire’s Reverse Mortgage […]
The governing council of the nation’s capital, Washington, D.C. is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure. In mid-January, the D.C. council enacted the “Fairness and Stability in Housing Amendment Act of 2024,” which amends specific housing agency laws to allow for protections for […]
Digital mortgage lender Better announced Friday that Patrick Kandianis has been appointed as the company’s new vice president of business development. A 22-year industry veteran in lending sales, Kandianis most recently served as Figure Lending’s senior director of lending partnership sales and was instrumental in helping that company achieve more than $12 billion in production. […]
Rithm Capital, which owns multichannel mortgage lender Newrez, built upon its success in 2023 with net income of $835 million in 2024. That figure represented a 57% increase from its profit of $533 million a year earlier. In its fourth-quarter and full-year 2024 earnings report released Thursday, New York-based Rithm posted GAAP net income of […]
Deadlines in a lawsuit and countersuit stemming from allegations of deceptive reverse mortgage marketing practices have been pushed out one month to the end of March and mid-April, respectively, as all parties in the case advocate for more time. This stems from a preliminary injunction request filed by Longbridge Financial against Mutual of Omaha Mortgage, […]
Homeowners have noted for some time that property taxes have risen precipitously, and this has the potential to heavily impact people living on a fixed income. But certain tax deferral options available to seniors and veterans should be employed if necessary, according to a Tennessee county official who spoke with a local radio station in […]
The Trump administration is expected to try to remove the government-sponsored enterprises (GSEs) from conservatorship, but it probably won’t be fast and it probably won’t be without considerable strife. At the Mortgage Bankers Association (MBA)’s Servicing Solutions Conference & Expo in Dallas on Thursday, experts shared their views on when Fannie Mae and Freddie Mac […]
Multistate mortgage lender Click n’ Close on Thursday announced that it’s adding a 30-year, fixed-rate conventional loan option to its SmartBuy Shared Appreciation Mortgage (SAM) program. Texas-based Click n’ Close, formerly known as Mid America Mortgage, offers the SmartBuy SAM program as an alternative path to homeownership. SAM loans grant the lender a share of […]
New data released Thursday by the Mortgage Bankers Association (MBA) revealed that the delinquency rate for mortgages on one- to four-unit residential properties increased to a seasonally adjusted rate of 3.98% of all loans outstanding at the end of 2024. The national delinquency rate was up 6 basis points (bps) from Q3 2024 and up […]