“I want more.” That was the resounding message from mortgage veteran Patty Arvielo, who, after 44 years in the industry, is still finding room for improvement — for herself, for her company New American Funding and for the next generation of leaders. By more, Arvielo means several things: She wants to see more women enter […]
The U.S. Senate on Thursday unanimously passed the Homebuyers Privacy Protection Act (S. 1467), a bipartisan bill aimed at curbing the abusive use of trigger leads in the mortgage industry—a move widely applauded by mortgage trade groups. The Senate action follows the House Financial Services Committee’s approval of a similar bill (H.R. 2808) earlier this […]
The non-QM space has long provided a valuable path for foreign nationals and global investors to purchase property in the United States. While these borrowers may follow a less traditional route, they play an essential role in the diversity and strength of the housing market. Even more importantly, non-QM serves international investors and domestic borrowers […]
A federal judge on Thursday blocked an attempt by the Consumer Financial Protection Bureau (CFPB) to reverse a $105,000 settlement with Townstone Financial, a Chicago-based mortgage broker accused of discouraging Black applicants. U.S. District Judge Franklin Valderrama ruled that allowing the CFPB to unwind the deal, finalized last year, “would erode public confidence in the […]
An order signed by a magistrate judge in the U.S. District Court for the Southern District of California has established a forward timeline for the ongoing lawsuit between major reverse mortgage industry lenders Mutual of Omaha Mortgage and Longbridge Financial. A trial is scheduled to begin in November 2026, according to court documents viewed by […]
Ohio-based digital mortgage lender Lower and Residential Wholesale Mortgage (RWM) have moved to settle a poaching lawsuit filed earlier this year in federal court in Texas. A two-page notice filed by Lower on May 16 offered few details about the settlement, but it signals the end of a brief legal battle, which was pending for […]
Veteran attorneys James Brody, Ron Gapp and Ashley Jumpp on Thursday announced the opening of Brody Gapp LLP, a national law firm that will focus on legal and compliance needs for mortgage companies and financial institutions. The firm plans to work with independent mortgage banks, credit unions, servicers and brokers across the country by offering […]
North Carolina-based Truliant Federal Credit Union announced Wednesday that it successfully utilized DocMagic’s technology to complete the first electronic home equity line of credit (eHELOC) registration with Mortgage Electronic Registration Systems‘ (MERS) national electronic database. Truliant said the home equity note was registered using DocMagic‘s digital lending technology on June 6. The MERS database tracks […]
Mortgage lending powerhouse Jennifer Beeston is defying odds in a tight lending environment, a feat she credits to “protecting” the American dream and leaning into financial literacy education. Beeston, the executive vice president of national sales at Rate, didn’t plan on a career in mortgage lending. She recalled becoming “house poor” as a young mother […]
This week at The Gathering by HousingWire, reverse mortgages took center stage on Tuesday as HW Media CEO Clayton Collins welcomed two leading industry executives to the stage. Dan Ventura, the president of reverse mortgage lending at Fairway Independent Mortgage Corp., and Chris Mayer, CEO of Longbridge Financial, spoke in front of the assembled professionals […]
Best practices for aging in place can come from a wide variety of academic and informational sources, but how often do you get these tips from the same place you browse the latest in TV and home theater technology? U.S. electronics retailer Best Buy is offering information on its technology product that could make aging […]
Xactus on Wednesday announced the completion of its integration with MSP, the loan servicing system operated by Intercontinental Exchange (ICE). The integration enables mortgage servicers to receive automated flood zone determination updates directly into their systems without manual intervention. “This integration is a market-changing development for both Xactus and mortgage servicers who rely on systems […]
United Wholesale Mortgage (UWM) has relaunched its 1% down payment program, Conventional 1% Down, in a renewed push to grow market share and loan volume in an increasingly competitive housing market. The program, announced on Wednesday, enables eligible borrowers to put down 1% on a home purchase, with UWM covering the remaining 2% of the […]
The federal bill that seeks to eliminate abusive trigger leads took a major step forward this week, advancing in the U.S. House of Representatives and reigniting hopes across the mortgage industry that it could soon become law. Late Tuesday, the House Financial Services Committee passed the Homebuyers Privacy Protection Act (H.R. 2808), which is designed […]
With a variety of change impacting the mortgage industry, including borrow demands, digital transformation, and regulatory requirements, mortgage servicers are re-evaluating the systems they use and how they interact with each other. With this in mind, servicers must leverage technology and platforms that offer seamless, real-time integration that allows for operational efficiency, data security, and […]
Rocket Pro is partnering with Vetted VA, which provides education to veterans and training to loan officers to give veterans better access to home loan benefits. The partnership, announced on Tuesday at The Gathering by HousingWire, will involve the training of Rocket staff and LOs by Vetted VA so the lender can better serve the […]
Goodbye, trigger leads? It’s not quite done yet, but a key House committee on Tuesday passed H.R. 2808, a bill to curb abusive mortgage trigger leads. In a conversation with HousingWire’s Sarah Wheeler at The Gathering, the head of the Mortgage Bankers Association (MBA) said the move has “been a long time coming” and will […]
Rising mortgage rates are beginning to take a toll on rate-lock activity. According to a report from Optimal Blue, total rate-lock volume in May decreased by 5.87% compared to last month, driven by a 255 basis-point drop in refinance application pull-through to 62.3%. Mortgage rates popped back up to 7% in the aftermath of the […]
Total Expert on Tuesday announced the debut of its AI Sales Assistant at HousingWire‘s The Gathering. The company said that the AI-powered assistant is already in private beta testing with select customers, including several top 10 lenders. Total Expert said that the AI Sales Assistant is not a chatbot retrofitted for financial services but is […]
Digital mortgage lender Better.com has hired Leah Price, who previously led fintech and artificial intelligence innovation efforts at the Federal Housing Finance Agency (FHFA), to lead its technology platform. Price joined the FHFA in 2024 as a senior financial technology and innovation specialist. In January 2025, she was promoted to lead its Office of Financial […]
Amid expectations that interest rate declines may reignite refinance activity, Optimal Blue on Monday launched a new tool that automatically analyzes loan officer portfolios each month to identify recapture opportunities. The tool is designed to ensure loan officers are ready when refinance volume picks up. While refinances declined in May from the prior month, Optimal […]
Despite a raft of what might seem like contradictory economic data points and a challenged housing market, the reverse mortgage industry largely proceeded as normal based on key performance metrics for May 2025. Home Equity Conversion Mortgage (HECM) endorsements dropped by 1% in May to 2,296 loans, despite recent increases in the expected interest rate […]
An Ohio appeals court has upheld a jury’s decision that orders CrossCountry Mortgage (CCM), the nation’s eighth-largest mortgage lender, to pay $2.1 million to a former senior accountant who was allegedly fired due to her age. Cheryl Shephard, who joined CCM in 2016, filed the lawsuit in October 2022 against the company and its vice […]
Following the passage of a bill in the House of Representatives that would establish a new partial claim option for veteran mortgage borrowers, the Senate is taking up a bipartisan bill with the same ultimate aim. The Veterans Housing Stability Act of 2025 was introduced into the Senate on May 22, just two days after […]
Ginger Bell, a marketing professional and founder of Go2Training has joined the National Association of Mortgage Brokers (NAMB) as its growth officer, the association announced on Monday. In her new role, Bell will lead initiatives to drive business growth and member value for mortgage professionals. NAMB confirmed that Bell will also lead the development and […]
Florida-based Gradient Mortgage Capital, a wholesale mortgage banking platform, launched Monday with the intent to serve mortgage bankers and brokers across the country with debt-service-coverage ratio (DSCR) and small-balance commercial real estate loans. Gradient is an affiliate of Saluda Grade, an alternative investment firm that specializes in asset-based lending. In a news release, Gradient said […]
Nationwide Mortgage Bankers Inc. (NMB) announced on Monday its appointment of Chris Allen to the role of chief culture officer. Before joining NMB, Allen held roles in business consulting and also served as chief talent officer at Movement Mortgage, helping to grow the company to more than 4,000 employees while developing its in-house training program, Movement University. […]
Blend Labs Inc. is officially exiting the title business with the sale of its Title365 subsidiary to Covius Services, the companies announced on Monday. Blend acquired Title365 from Mr. Cooper for $422 million in 2021. While it’s stepping away from title operations, Blend will continue to use the platform for title and closing services. The […]
RetroRate, a startup focused on making assumable mortgages easier to find and evaluate, has raised $2.2 million in seed funding. The platform allows real estate agents to find assumable loans through MLS data and guides them through a complex approval and closing. By streamlining this process, RetroRate aims to make assumable mortgages more accessible and […]
Welcome back to Tech Pulse — a new weekly series rounding up the latest in technology, including tools, integrations and trends impacting mortgage and real estate. Here’s what happened this week: Robert Reffkin touts Compass’s AI platform, agent advocacy efforts Compass is preparing to launch a new AI platform designed to automate tasks, find opportunities and give […]
As communities and organizations continue to reckon with the impact of the Los Angeles-area wildfires, the state is now stepping in with a new assistance program that will include impacted reverse mortgage borrowers whose homes were damaged or lost. California Gov. Gavin Newsom (D) on Thursday announced that the CalAssist Mortgage Fund will launch on […]
Since January, federal funding cuts have struck far and wide across a number of local, state and federal programs that tackle a variety of issues. And while the local “Choice in Aging” program in Contra Costa County, California, would be directly impacted if cuts happen, that’s not stopping people there from advocating on behalf of […]
A group of 14 Democratic senators, led by Elizabeth Warren (Mass.) and Minority Leader Chuck Schumer (N.Y.), have called on Federal Housing Finance Agency (FHFA) Director Bill Pulte to pause any potential plans to release government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from conservatorship. The letter, first reported by Bloomberg, said that any potential […]
Rocket Companies and PennyMac Mortgage Investment Trust priced new debt issuances this week. While Rocket is refinancing debt tied to its Mr. Cooper acquisition, PennyMac is supporting its investment and lending strategies. Rocket priced $4 billion in senior unsecured notes — $2 billion due in 2030 at 6.125% and $2 billion due in 2033 at […]
Mortgage and valuation technology firm Clear Capital has integrated its automated appraisal review platform, ClearCollateral Review, with ICE Mortgage Technology’s Encompass Partner Connect. The move allows lenders to access appraisal review tools directly within their loan origination systems. Encompass Partner Connect is part of a broader application programming interface (API) framework developed by ICE to […]
In the ongoing lawsuit between two leading reverse mortgage lenders over allegations of improper advertising practices, both parties recently conferred in front of a magistrate judge, but did not reach a settlement. That’s according to the court docket reviewed by HousingWire’s Reverse Mortgage Daily (RMD). The lawsuit between Longbridge Financial and Mutual of Omaha Mortgage […]
Blue Sage Solutions has integrated Freddie Mac’s new policy on positive rental payment history into its digital lending platform, allowing lenders to factor on-time rent payments into mortgage applications. The change comes as part of a broader effort to expand access to homeownership, particularly for renters with limited traditional credit histories. Freddie Mac’s Loan Product […]
U.S. residential mortgage originations were down 14% between the the fourth quarter of 2024 and the first quarter of 2025, according to data released Thursday by real estate analytics firm ATTOM. But the 1.4 million originations posted between January and March were up 9.4% from the same period last year — a sign that the […]
Newrez, the fifth largest mortgage lender in the U.S., on Thursday announced the appointment of Brian Woodring as its chief information officer. Woodring previously worked at Rocket Mortgage, where he held the same position before leaving in April 2024. In his new role at Newrez, Woodring will oversee the company’s technology initiatives, which include digital […]
Following last month’s release of the so-called “skinny budget” from the White House, the Office of Management and Budget (OMB) has released a 1,200-plus page appendix for the proposal. It includes projections related to the performance of the Home Equity Conversion Mortgage (HECM) portion of the Mutual Mortgage Insurance (MMI) Fund. According to the data […]
Following its vow to appeal the initial decision in a case brought against Ginnie Mae over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender, filings by Texas Capital Bank (TCB) have been docketed and assigned a case number in the Fifth Circuit Court of Appeals. The suit will begin […]
San Francisco-based Wells Fargo, one of the nation’s largest banks, received welcome news on Tuesday when the Federal Reserve lifted restrictions on the company’s asset growth. The restrictions were part of an enforcement action tied to Wells Fargo’s creation of millions of unauthorized bank accounts. In a statement, the Fed’s board of governors said they’ve […]
Mortgage applications decreased by 3.9% for the week ending May 30, according to data from the Mortgage Bankers Association (MBA). On an unadjusted basis, the index fell 15% during the week marked by the Memorial Day holiday. But economists and loan officers say the year-to-date landscape looks much better. “Mortgage applications decreased over the week, […]
Often I am asked questions like, “When should I hire a coach?” or “Is coaching a requirement to become a top producer?” Equally as often I hear originators make statements such as “I can’t afford a coach”. All three questions are great questions and each comes with its own unique yet boilerplate answer. So before […]
As borrower expectations for personalized, timely communication rise, loan officers are turning to AI-powered tools to stay competitive. Intelligent automation is no longer a future vision but a present necessity that helps lenders scale personalization, deepen client relationships, and uncover new opportunities. Ryan Young, founder and CEO of Fello.ai, recently shared how AI is transforming […]