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 […]
In a move that’s designed to simplify prior policy, the Federal Housing Administration (FHA) on Tuesday published a new Mortgagee Letter (ML) that targets borrower default engagement practices that were published in the waning days of the Biden administration. ML 2025-14 makes changes to final guidance first floated last summer to open up communications between […]
When you think about the best states for aging in place, the choice retirement destinations likely spring to the top of the list. After all, with high and growing populations of older residents, wouldn’t these states be an ideal place to call home in later life? Not according to a new report from Seniorly Resource […]
Rocket Companies scored a win in a derivative lawsuit alleging insider trading by its primary stakeholder, Rocket Holdings, Inc. (RHI), an entity owned by founder and chairman Dan Gilbert, and its board of directors. The lawsuit stemmed from two complaints, one filed by the Doris Shenwick Trust in November 2021 and another by investor Christopher […]
Rocket Companies announced a plan to issue $4 billion in debt amid its proposed acquisitions of real estate platform Redfin and mortgage lender and servicer Mr. Cooper Group, according to a statement released Tuesday. Proceeds from the offering will primarily be used to redeem existing debt issued by Nationstar Mortgage Holdings (NMH), a subsidiary of […]
Mortgage companies remain active in the debt market. This time, PennyMac Mortgage Investment Trust and loanDepot announced on Monday the issuance of senior notes to support their business operations, investments and to retire existing debt. PennyMac will issue unsecured senior notes due in 2030, following an $850 million offering by PennyMac Financial Services in an […]
Mat Ishbia, the president and CEO of United Wholesale Mortgage (UWM), said last week he doesn’t think that releasing Fannie Mae and Freddie Mac from conservatorship is a major focus for the Trump administration — and he isn’t sure “whether it should be.” One thing he is confident about: If ending the conservatorship results in […]
As the preference to age in place continues to dominate among those planning out their later lives, people actually living with the preference may find they need to make adjustments to certain parts of their routines to accommodate costs, access services and maintain social relationships. One key tool that might be able to assist with […]
U.S. homeowners tapped nearly $25 billion in home equity through second-lien mortgages during the first quarter of 2025 — the largest volume for this period in 17 years, according to the ICE Mortgage Technology‘s newest Mortgage Monitor report. That marks a 22% increase compared to the same quarter last year. The first quarter is typically […]
Following up on an announcement issued at the start of last month, the U.S. Department of Housing and Urban Development (HUD) formally announced on Monday that it’s beginning to implement anti-phishing multifactor authentication (MFA) into the Federal Housing Administration Catalyst (FHAC) platform and making it available to all users. Users have until July 28 to […]
A firefighter and his pregnant wife were unable to buy a two-bedroom home in the neighborhood where they grew up; two teachers had dashed dreams of owning their bungalow near the school where they work. These are just two examples of the heartbreaking scenarios you hear about in the real estate business. It’s no secret […]
Below is a timeline of the actions or reports related to Federal Housing Finance Agency (FHFA) Director Bill Pulte that have impacted the regulator or the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac since Pulte was announced as President Donald Trump’s nominee for the role in January and took office in March. January/February Trump […]
The dedicated reverse mortgage development workgroup inside the Mortgage Industry Standards Maintenance Organization (MISMO) has been working diligently for much of the past year to develop holistic support for reverse programs across new and existing MISMO subscribers. It’s also working to publish data in an industry-standard format to increase efficiency among stakeholders. George Morales, the […]
Following the wildfires that devastated the Los Angeles area at the start of the year, a new study has emerged that suggests banks with physical locations are less likely to extend mortgages to impacted residents, while online lenders are continuing to be active. First reported by the The Washington Post, the study — published on […]
A key decision maker in the federal housing apparatus, the director of the Federal Housing Finance Agency (FHFA) oversees the regulator of the government-sponsored enterprises (GSEs) and the Federal Home Loan Banks. But Bill Pulte has been anything but a conventional FHFA director (pardon the term, since we’re not talking about conforming loan limits just […]
Transitioning from the structure of a retail mortgage company and striking out on your own at an independent brokerage brings its own set of challenges — from selecting a tech stack to navigating unexpected hurdles and figuring out which resources to tap into. For Stacey Melton, vice president of Arizona-based Reasy Financial, the broker journey […]
Mortgage delinquencies are keeping a steady pace. In March 2025, the share of mortgages in some stage of delinquency (30 or more days past due, including foreclosures) remained at 2.8%, the same rate as a year ago. That’s according to Cotality‘s newest Loan Performance Indicators released on Thursday. Cotality reported that the overall U.S. delinquency […]
United Wholesale Mortgage (UWM) grabbed another win this week in a challenge to its “All-In” initiative after a federal appeals court ruled against Florida-based Okavage Group. Since 2021, UWM and Okavage Group have been engaged in a legal tango. Okavage filed an antitrust lawsuit against UWM over the lender’s ultimatum that prohibits mortgage brokers from […]
Due to ferocious investor demand, Movement Mortgage is opportunistically selling billions in mortgage servicing rights. And the South Carolina-based retail lender is using the cash proceeds to sharpen pricing for its roughly 1,400 producing loan officers. But while improved pricing might help win deals in the short term, Movement isn’t retaining recapture rights on some […]
As mortgage rates remain elevated and housing inventory remains tight, luxury rentals are increasingly becoming a preferred choice for high-income U.S. households, marking a shift in how high-end housing is being viewed and occupied across the U.S. Industry data shows a marked uptick in demand for luxury rentals, especially in markets outside of traditional urban […]
In compliance with a 1978 law that requires government agency watchdogs to provide semi-annual reports on their activities, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) published its report on Tuesday. While there were no new indications of scrutiny for the Home Equity Conversion Mortgage (HECM) program, the […]
President Donald Trump met Thursday with Federal Reserve Chair Jerome Powell at the White House to discuss economic developments, as Trump continues to press the Fed to lower interest rates. During the meeting, Trump told Powell he’s making “a mistake” by not lowering interest rates, the White House said Thursday. The meeting was at Trump’s […]
What happens when competitors pursue scale in a static yet strategically important market? The answer lies in a remote corner of the mortgage industry: subservicing. This business — which involves handling mortgage payments, borrower communication and escrow administration on behalf of lenders — has undergone consolidation. The sector drew renewed attention in March when Rocket […]
In early April, mortgage lenders across America were buzzing. Mortgage rates fell to 6.60% on vanilla 30-year products, and loan officers scrambled to refinance clients who were now in the money. Millions of dollars were up for grabs. The frenzy only lasted 48 hours. Rates shot right back up to 6.82% and then 6.97%, and […]
Arrive Home has launched two new iterations of its Earned Equity Program (EEP), which helps consumers achieve homeownership through a long-term purchase contract. The program is now available through two separate products designed for different groups of borrowers: EEP Pathway and EEP DocLight. EEP Pathway is ideally suited for individual tax identification number (ITIN) holders and […]
A former attorney in Washington state this week pleaded guilty in federal court to defrauding a disabled client out of an estimated $800,000 — in part through the misuse of a reverse mortgage, according to an announcement by the Department of Justice (DOJ) and the U.S. Attorney’s Office for the Western District of Washington. The […]
After a statement made last week in condemning the credit-score pricing practices of Fair Isaac Corp. (FICO), Federal Housing Finance Agency (FHFA) Director Bill Pulte is now being complimented for his position by the Community Home Lenders of America (CHLA). CHLA on Tuesday sent a letter to Pulte, saying that FICO “has a clear monopoly […]
Dallas-based Supreme Lending has reached a deal to acquire Michigan Mutual, Inc. (MiMutual), adding a wholesale platform and a presence in Michigan to its operations, sources told HousingWire. Founded in 1999, Supreme Lending originated $3.8 billion over the past 12 months, with most of its volume concentrated in Texas, Florida and California, according to mortgage […]
After embarking on an ambitious project designed to ease the technological processes and interfaces of the reverse mortgage industry compared to traditional mortgage workflows, the Mortgage Industry Standards Maintenance Organization (MISMO) announced this week that the latest version of its reference model includes reverse mortgage features. On Tuesday, MISMO announced that the new version has […]
On Wednesday morning, Fannie Mae president and CEO Priscilla Almodovar took to the stage at Fannie Mae’s headquarters with Federal Housing Finance Agency (FHFA) Director Bill Pulte and Palantir Technologies CEO Alex Karp. The trio announced a partnership between the government-sponsored enterprise (GSE) and Palantir to root out mortgage fraud. Palantir is a publicly traded […]
Unlock the power of artificial intelligence (AI) in mortgage lending with the report, Overcoming the Top Barriers to AI Adoption in Mortgage Lending, done in collaboration with TRUE. Discover what’s holding the industry back — and how forward-thinking lenders are breaking through. This report offers practical strategies and expert insight to help you move from […]
Mortgage applications decreased 1.2% from one week earlier, per data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2025. On an unadjusted basis, the index decreased 2% compared with the previous week. The refinance index decreased 7% from the previous week, but remained 37% higher than the […]
President Trump last week promised a quick answer on whether to remove Fannie Mae and Freddie Mac from government conservatorship. And it appears he’s already reached a decision: it’s time to take them ‘public.’ In a post published on Truth Social Tuesday night, Trump wrote: Our great Mortgage Agencies, Fannie Mae and Freddie Mac, provide […]
Depending on where you look for economic news, you may come away with your head spinning. While consumer sentiment surveys are down — with recent changes tied to trade policy announcements with China — the U.S. economy has remained in mostly resilient territory due to consumer spending. But why is there an apparent disconnect between […]
Since the new administration took over in January, government agencies have systemically rolled back federal diversity, equity, and inclusion initiatives, with the Trump administration framing the move as a way to cut costs and eliminate waste. The Mortgage Bankers Association (MBA), the largest mortgage trade group, removed several webpages related to diversity, equity, and inclusion, […]
Guild Holdings Company, the parent of retail lender Guild Mortgage, has engaged in M&A talks with Bayview Asset Management, both companies confirmed on Friday. In a statement, Guild said the initiative came from Bayview, and preliminary discussions on a “broader commercial relationship and potential corporate transaction” are in progress. The discussions include a significant minority […]
Mortgage rates continued to rise over the Memorial Day weekend, renewing calls for benchmark rate cuts even as home purchase demand is stronger than it was a year ago. At HousingWire’s Mortgage Rates Center on Tuesday, 30-year conforming loan rates averaged 6.97% while 15-year conforming rates averaged 6.83%. These figures were up for a second […]
AI-based tools are now substantially reducing both the time and labor of routine mortgage processing. Traditional procedural steps—such as employment proofing, income verification, fraud detection and title checks—have long resulted in an unnecessarily lengthy time for a mortgage application’s approval. But the potential benefits of the AI revolution in mortgage lending aren’t just speculation; they are […]
Millennial homebuyers (born between 1981 and 1996) are reshaping the real estate landscape with their strong preference for digital tools and technology-driven experiences. As the largest cohort of homebuyers in the U.S., their tech-first approach influences how properties are marketed, searched and purchased. Here’s the hard truth. If these buyers are looking online for lenders […]
An existing reverse mortgage-backed securities issuer and wholesale lender is making a new play for the retail space, according to a new announcement. GoodLife Home Loans, dba of Bellevue, Wash.-based Traditional Mortgage Acceptance Corporation (TMAC), announced this week that it has launched a new retail reverse mortgage division to add to its existing efforts in […]