The reverse mortgage education ecosystem has long struggled to push back against the tide of what the industry views as bad information about its products and business model. Nonprofit counseling agency Credit.org is aiming to offer more prospective reverse mortgage borrowers a source of information. It has created a new e-learning course that aims to […]
Home equity levels among U.S. homeowners is at record levels, having hit $35 trillion, according to Federal Reserve data. But with this added wealth on paper, those holding it aren’t necessarily feeling more financially secure. This is due to the upward march of property taxes, persistently high interest rates and other restrictions some families may […]
Equity Smart Home Loans made a splash Wednesday by announcing it is severing ties with United Wholesale Mortgage (UWM) and partnering with Rocket Pro. In an interview with HousingWire, longtime CEO Pablo Martinez said that the contract termination occurred last week. “It just comes down to pricing. It’s like when you go to Costco, you […]
The government-owned company responsible for a large portion of secondary mortgage market activity has appointed a new senior leader. Ginnie Mae has appointed Joseph Gormley to serve as its new executive vice president and chief operating officer. He will oversee the company’s overarching mission to support stability across U.S. housing markets, the company said on […]
American Financial Resources (AFR) on Wednesday announced the promotions of Robert Pieklo to CEO and Michael Brenning to chief operating officer. The leadership changes follow the company’s record-breaking first quarter in which AFR said it quadrupled its Q1 2024 loan origination volume, including a nearly 700% increase in production in the wholesale channel alone. Per […]
Federal Housing Finance Agency (FHFA) Director Bill Pulte announced via social media platform X that the agency is establishing a tip line for reporting mortgage fraud activity. Pulte announced the intent to create a tip line on Monday via his personal X account. A day later, he shared an email address, fraudtips@fhfa.gov, where mortgage fraud […]
Rocket Companies made a major move this week by integrating Rocket Pro TPO with ARIVE, a leading software platform used by mortgage brokers. The integration, announced on Wednesday, connects Rocket to a network of approximately 28,000 active users, including 21,000 loan officers who source mortgage offers from multiple wholesale lenders — including Rocket’s chief rival, […]
Mortgage demand decreased 8.5% for the week ending April 11, according to the Mortgage Bankers Association (MBA)’s weekly applications survey — a stark contrast to the 20% increase seen a week earlier. Last week’s application news was dominated by the quick buzz that resulted from lower rate movement. But this week’s data revealed that the […]
Bank of America (BofA) and Citi reported declining mortgage production in the first quarter of 2025 compared to the previous quarter, following similar results from peers Wells Fargo and JPMorgan Chase last week. Mortgage volumes at BofA and Citi, which were attributed to seasonal trends and rising interest rates, are expected to remain challenged in […]
More than $700 billion in home equity is effectively “trapped” and inaccessible to homeowners due to a variety of economic circumstances, including employment shocks and shifts in the market that negatively impact their credit scores. This information comes from an economic analysis published last week by alternative home equity investment company Point. The “trapping” stems […]
Digital banking solutions company Blend Labs Inc. on Tuesday announced an expanded partnership with Alloy, an identity and fraud prevention platform provider. As part of the new agreement, Blend customers can now incorporate Alloy’s identity and fraud prevention capabilities into their consumer banking solutions, with the ultimate goal to build a safer digital banking experience. […]
The U.S. economy continues to navigate turbulence that is closely tied to President Donald Trump’s newly enacted trade policies. The mortgage market has not been immune to the volatility as interest rates remain top of mind for originators and consumers alike. HousingWire’s Mortgage Rates Center shows that 30-year conforming rates averaged 6.78% on Tuesday, up […]
Illustration of HUD Secretary Scott Turner ending loss mitigation programs. Created with ChatGPTO 4o. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=1024″ src=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?w=1024″ alt=”Illustration of HUD Secretary Scott Turner ending loss mitigation programs.” class=”wp-image-515820″ srcset=”https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=150,100 150w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=300,200 300w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=768,512 768w, https://www.housingwire.com/wp-content/uploads/2025/04/Copy-of-Newsroom-Template-1200-x-800-px-14.jpg?resize=1024,683 1024w” sizes=”(max-width: 1200px) 100vw, 1200px”>Illustration of HUD Secretary Scott Turner ending loss mitigation programs. Created with ChatGPTO […]
AI-powered platform Friday Harbor today announced the completion of a $6 million seed round. The round was led by Abstract Ventures, a San Francisco-based venture firm with $1.5 billion in assets under management. Other participants in the round were Wischoff Ventures, a venture capital firm founded by Blend alum Nichole Wischoff, and the AI2 Incubator, […]
Following national home-price growth of 5.8% in 2024, a panel of more than 100 housing experts forecasts home-price growth to average 3.4% in 2025 and 3.3% in 2026. That’s according to the Q1 2025 Fannie Mae Home Price Expectations Survey, produced in partnership with Pulsenomics, LLC, which forecasts national home-price percentage changes in each of […]
After over three decades of leadership, Robert Wagnon, CEO and founder of Republic State Mortgage Co., yesterday announced the sale of his controlling interest in Republic to Andrina Valdes, CEO of Temul Capital and Alta Home Lending. A press release from the Houston-based company confirmed that Paulina McGrath will remain as its president, chief financial […]
In its 2025 State of eClose Adoption Report released on Tuesday, Snapdocs revealed that 90% of mortgage lending institutions now offer digital closings to customers. This year’s figure marked a 22% increase from the prior year. But despite the increase, only 14% of lenders with eClosing technology close more than 80% of their loans digitally […]
Trade groups like the Mortgage Bankers Association (MBA) may be getting at least some of the relief they’ve been advocating for when it comes to mortgage insurance premiums. Last week, H.R. 2760 — otherwise known as the Middle Class Mortgage Insurance Premium Act — was introduced into the House of Representatives by Rep. Vern Buchanan […]
Better Home & Finance Holding Co. — the parent of digital mortgage lender Better.com — has restructured about $534 million of its outstanding debt with SB Northstar, the asset management subsidiary of SoftBank, the company announced on Monday. Better is retiring $530 million of outstanding debt accruing interest at 1% annually and due in 2028. […]
Federal Housing Finance Agency (FHFA) Director Bill Pulte took to social media platform X on Monday to announce that, effective immediately, Omeed Malik is joining Fannie Mae‘s board. “Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!” Pulte wrote. This is not Malik’s first involvement with the […]
In every housing market, every lender, originator, mortgage broker, or loan officer should endeavor to understand their buyer pool. Trends and perceptions change annually and generationally — especially when it comes to desires, housing market outlook, and financial thresholds. Having insight into how and what they think can go a long way. It can aid […]
The Consumer Financial Protection Bureau (CFPB) announced on Friday that it’s rescinding a rule from the previous administration that requires nonbank financial services providers to register certain enforcement actions and court orders with a new federal database. The regulation was the target of criticism from the mortgage industry. In practice, the CFPB said it will […]
U.S. foreclosure activity rose in the first quarter of 2025, ending a nine-month streak of declines according to new data compiled by real estate analytics firm ATTOM. A total of 93,953 properties had foreclosure filings between January and March 2025 — an 11% increase from the previous quarter. While that figure marks a 2% drop […]
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 […]
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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 […]