Homebuyer affordability improved slightly in November as the national median monthly mortgage payment for purchase applicants dropped to $2,034, down $5 from October, according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI) released Thursday. On an annual basis, payments were down by $99, equal to a 4.6% decrease. MBA’s PAPI, which tracks […]
CrossCountry Mortgage (CCM) announced Wednesday that it’s welcoming the Victor Alpha Group to the company. Led by the husband-and-wife duo of Patton Gade and Shari Gade, the team brings more than 20 mortgage professionals with military ties to CCM. “This team exemplifies the values that define CrossCountry Mortgage,” Ron Leonhardt, founder and CEO of CrossCountry […]
Mutual of Omaha Mortgage is marketing a $243.3 million securitization backed by newly originated proprietary reverse mortgages, according to a presale report published Monday by Morningstar DBRS. The transaction is backed by 318 reverse mortgages with about $200.1 million in unpaid principal balance, most of which were originated in 2025 and are secured by first […]
Movement Mortgage has a new East Coast growth director, according to a press release from the company on Wednesday. Justin Caplan is taking on the role. He is tasked with leading and supporting market expansion, along with strengthening recruiting and leadership development. Caplan, who has 30 years of industry experience, has funded more than $1 […]
MidOcean Partners, an alternative asset manager focused on middle-market private equity, alternative credit and structured equity, said on Tuesday that it has entered into a forward flow purchase agreement with home equity investment (HEI) platform Point Digital Finance Inc. Under the agreement, Point will sell up to $600 million of its HEI assets to MidOcean. […]
The Mortgage Industry Standards Maintenance Organization (MISMO) announced on Tuesday that Amy Moses will assume the role of vice president of strategic growth. Moses, who joined MISMO in early 2025 as a contractor, will lead MISMO’s growth and revenue strategy in her new role. She’ll also develop partnerships that help to encourage the adoption of […]
Kiavi, a nonbank lender platform for residential real estate investors (REIs), announced on Wednesday its expansion into four additional states — Mississippi, New Mexico, Rhode Island and Vermont — bringing its footprint to 49 states and Washington, D.C. The expansion comes amid a period of growth for the company. Year to date, Kiavi has originated […]
United Holding Corp., the parent company of United Wholesale Mortgage (UWM), has struck an all-stock deal to acquire real estate investment trust Two Harbors Investment Corp. for $1.3 billion. The transaction, announced Wednesday, will nearly double UWM’s servicing book while expanding its capabilities, creating the eighth-largest U.S. mortgage servicer, according to company estimates. Two Harbors […]
From lawsuits to mergers and acquisitions at a scale never seen before in real estate and everything in between, 2025 was full of twists, turns and surprises for the housing industry. HousingWire is rewinding and breaking down the biggest storylines in the real estate industry from this past year. There is no doubt that 2025 […]
Mortgage applications decreased 3.8% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Dec. 12. On an unadjusted basis, the index decreased 5% compared with the previous week. The refinance index decreased 4% from the previous week and was 86% higher than the […]
Intercontinental Exchange (ICE) on Tuesday named Bob Hart as president of its ICE Mortgage Technology division. Hart will succeed Tim Bowler, who will transition to ICE’s fixed income and data services division, where he will focus on index development and financial institution infrastructure. The leadership changes take effect Jan. 1, 2026. Hart joined ICE Mortgage […]
Freddie Mac announced Tuesday that its board of directors has selected Kenny M. Smith as the company’s CEO. The move is effective Wednesday and Smith will also serve as a member of the board. Michael Hutchins, who assumed the interim CEO role in March 2025 following the departure of Diana Reid, will continue in his […]
The latest in a string of Federal Reserve interest rate cuts appears to have done little to impact mortgage rates, which have remained steady since the Fed’s Dec. 10 decision to lower benchmark rates by a quarter point. On Monday, Mortgage News Daily reported that 30-year fixed rates averaged 6.29%, down 7 basis points (bps) […]
Mortgage trade groups are supporting limits on disparate-impact liability under the Equal Credit Opportunity Act (ECOA) and other proposed changes, according to comment letters submitted Monday to the Consumer Financial Protection Bureau (CFPB). Consumer advocacy groups, however, are urging the CFPB to withdraw the proposal entirely, warning that it would significantly weaken fair lending protections […]
Informed.IQ, an AI-powered loan verification and fraud prevention company, announced on Tuesday that it raised $63M from Invictus Growth Partners to expand its AI-powered loan verification platform, aiming to reduce fraud and enhance efficiency. Informed.IQ, which serves seven of the top 10 U.S. auto lenders, said its platform has supported over $350 billion in loan […]
Mortgage applications for new home purchases in November 2025 increased 3.1% from a year ago but compared to the previous month, decreased by 7%. That’s according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) data. The association disclosed that the change does not include any adjustment for typical seasonal patterns. “While the arrival […]
Pennymac cut the ribbon on a new facility in Carrollton, Texas, on Friday, which will become the company’s largest corporate office, eventually housing more than 1,800 employees. The move consolidates two offices in the Dallas/Fort Worth metroplex while also giving the company room to grow. Pennymac is taking full advantage of the bigger space, actively hiring […]
The legal skirmish between Katie Sweeney and the Association of Independent Mortgage Experts (AIME) is continuing to develop with a first amended complaint that officially names United Wholesale Mortgage, AIME’s main sponsor, and Sarah DeCiantis, UWM’s executive vice president and chief marketing officer, as defendants. Sweeney previously filed a motion on Oct. 28 in the […]
Most Americans hold a favorable view of Social Security, but about one-third are skeptical the program will still exist when they retire, according to new survey data released by the Cato Institute and YouGov. The survey also found that Americans are broadly misinformed about how Social Security works. “Many do not understand how the program […]
The Consumer Financial Protection Bureau (CFPB) is proposing changes to rules under the Equal Credit Opportunity Act (ECOA) to clarify lenders’ responsibilities on issues including disparate impact, discouragement of applicants and special purpose credit programs (SPCPs) that industry leaders say could hurt women’s ability to get a mortgage loan in their own name. The comment […]
Don Goettling, a nearly 40-year veteran of the mortgage and real estate industry, announced last week that he’s committing full time to his role as CEO of Momentum Builder, the company he co-founded in 2018. The organization, which provides resources for housing professionals — including coaching, workshops, events and technology tools — also oversees the […]
Top U.S. mortgage companies have continued to gain market share in 2025 and are positioned to improve their profitability in the coming years. But growing leverage tied to mortgage servicing rights (MSR) investments is contributing to negative outlooks for some competitors, Fitch Ratings said. The credit ratings agency released its periodic peer review of nonbank […]
Funds managed by Blue Owl Capital have committed $2.5 billion to expand Finance of America Companies’ (FOA) home equity offerings and are also investing $50 million in equity in the reverse mortgage lender, the companies announced on Friday. It’s the latest in a string of Blue Owl moves in the home equity space, including a […]
Nonprofit organizations say the Trump administration has dramatically scaled back fair lending oversight — and they’re stepping in to fill the void. In its latest move, the Department of Justice (DOJ) this week announced the rescission of disparate-impact liability from its Title VI regulations, while other parts of the federal government have reduced enforcement of […]
On Thursday, the Senate confirmed Frank Cassidy to be the next Federal Housing Administration (FHA) commissioner and Joe Gormley to be Ginnie Mae‘s new president. The confirmations follow the Senate Committee on Banking, Housing and Urban Affairs advancing the nominations last month to a full Senate vote. Confirmation hearings for the candidates were held in late […]
Title and real estate services provider Stewart Information Services Corp. is raising nearly $130 million through a stock offering expected to close on Friday. The capital raise comes roughly one month after Stewart announced its $330 million acquisition of the mortgage services division of property preservation provider Mortgage Contracting Services (MCS). Stewart is offering 1.9 […]
Lacey Sullivan To accomplish that, Sullivan will work closely with leaders across the Guaranteed Rate Affinity organization to align the Northern California region’s priorities with the company’s broader business goals. “Stepping into the Regional Manager role with Guaranteed Rate Affinity is an exciting opportunity,” Sullivan said. “I’m looking forward to supporting our teams, strengthening our […]
NewDay USA has hired Michael Gaines as executive vice president of capital markets. Gaines confirmed the news on his LinkedIn account in a post on Dec. 6. “In my first week, I’ve seen firsthand the incredible commitment to serving veterans, service members and their families. I look forward to contributing to this mission and leading […]
In recent weeks, President Trump has increasingly focused on “affordability” as a top priority. When it comes to housing, that means addressing homeownership affordability challenges, which are significant by historical standards. According to a recent Report by the National Association of Realtors, “The share of first-time home buyers dropped to a record low of 21%, […]
Optimal Blue on Wednesday released its November 2025 Market Advantage report, which revealed that mortgage rate-lock activity slowed with typical late-fall seasonality but still posted the strongest November in four years. Total lock volume fell 25% from October but was up 17% from November 2024, driven by strong refinance activity and mortgage rates hovering near […]
Ncontracts, a provider of compliance, risk and vendor management solutions for the financial services industry, released a new survey Tuesday that examines how institutions are managing evolving compliance expectations in 2026. The survey, “The Future of Compliance: Benchmarking the People, Processes, and Pressures Shaping Compliance in 2026,” included responses from 183 financial institutions across various […]
The Federal Reserve delivered another 25-basis-point cut to its benchmark interest rate on Wednesday, setting the target range at 3.5% to 3.75% amid signs of a softening labor market and inflation that’s still above the central bank’s 2% target. The move marks the Fed’s third straight rate cut to end 2025, following 25-bps cuts in […]
The U.S. Department of Housing and Urban Development (HUD) is reopening the public comment period for a review of federal reverse mortgage programs, the agency announced Wednesday in the Federal Register. HUD previously issued a request for information in October, seeking input on the Home Equity Conversion Mortgage (HECM) and HECM Mortgage-Backed Securities (HMBS) programs. […]
Even if mortgage rates fall by 100 bps in 2026, demand for second-lien products is likely to remain strong, as the math continues to be compelling for consumers. Looking at today’s mortgage coupon profile, rates must fall below 4% before more than half the market moves into the money to The following information has haunted […]
FirstClose, a fintech provider of data and workflow tools for mortgage and home equity lenders, on Wednesday announced a partnership with Stewart Lender Services, a division of Stewart Information Services Corp. The agreement will expand home equity fulfillment capabilities within the FirstClose Order Management System (OMS). The integration gives FirstClose OMS users access to Stewart’s […]
The U.S Department of Veterans Affairs (VA) home loan program rebounded sharply in 2025, according to a new analysis from Veterans United Home Loans. The rebound reverses last year’s slowdown and highlights the program’s continued appeal for service members and veterans. VA loan count rose 26.8% to 528,343 loans closed in fiscal year 2025, up […]
The American Financial Services Association (AFSA), the nation’s oldest and largest consumer credit trade group, on Tuesday released its quarterly Consumer Credit Conditions Index. It found that AFSA members’ assessment of current conditions turned slightly negative in the third quarter of 2025. More respondents reported worsening business conditions than improving conditions, pushing the survey’s Net […]
New York Gov. Kathy Hochul has signed legislation to expand property tax exemptions for seniors to up to 65% of their home’s assessed value, raising the ceiling for the first time in decades from the previous 50% cap. “No New York senior should lose their home because they can no longer afford their property taxes,” […]
CrossCountry Mortgage (CCM) filed a motion last week as it seeks to intervene in the criminal case against former loan officer Christopher Gallo, and to vacate a November court order that blocked the company’s arbitration claim against the former employee. National Mortgage News first reported the legal action. According to the Dec. 3 filing, the […]
Blue Owl Capital announced Tuesday that it’s making a $2.5 billion commitment in funds it manages to home equity investment (HEI) platform Point. The newss comes just one month after the companies issued the largest securitization ever completed in the HEI space. The new capital will allow Palo Alto, California-based Point to originate about $10 […]
Mortgage credit availability increased in November, according to data released Tuesday by the Mortgage Bankers Association (MBA). The trade group’s Mortgage Credit Availability Index (MCAI), which uses data from ICE Mortgage Technology, rose 0.7% to a reading of 107.5. A lower reading signals tighter lending standards, while a higher reading indicates looser credit. The index […]
Michael Burry, the investor best known for predicting the 2008 financial crisis, revealed on Monday that he holds a sizable position in what he labels the “Toxic Twins” — Fannie Mae and Freddie Mac – common stock, which he believes could deliver significant gains if the government moves forward with a potential initial public offering (IPO). “I […]
Optimal Blue announced on Monday that it has promoted Lanny Rogers III to chief financial officer and Jeremy Moreno to chief revenue officer. Rogers, a certified public accountant, will oversee financial planning, forecasting and capital allocation as the company expands. He joined Optimal Blue in 2017 and most recently served as vice president of accounting. […]
The ROAD to Housing Act was left out of the 2026 National Defense Authorization Act (NDAA) in the final House text released Sunday, leaving the mortgage industry to continue pushing for housing provisions into the first quarter of next year. The bipartisan bill — which includes policies to address housing affordability, boost supply, modernize financing […]
Late last month, federal banking regulators proposed lowering the Community Bank Leverage Ratio (CBLR) for qualifying community banks and bank holding companies from 9% to 8% while extending the timeframe for certain banks to remain in the program. The Office of the Comptroller of the Currency (OCC), the Federal Reserve and the Federal Deposit Insurance […]