In March 2024, Fannie Mae launched a title waiver pilot program that allowed approved lenders to use an automated title review process to assess title risk during loan manufacturing and prior to loan purchase. The pilot is limited to certain refinance loans with loan-to-value ratios less than 80% in certain geographic areas. But one year […]
Following initial reactions by trade groups and senior advocacy organizations to a new in-person identity verification requirement from the Social Security Administration (SSA), others are weighing in about the potential challenges that older Americans could face if the requirement is fully implemented. Last week, SSA announced that beneficiaries who are unable to complete their identity […]
Prospective buyers face numerous obstacles on their journey to homeownership, with access to credit often serving as a major hurdle. Mortgage denial rates vary significantly across the U.S., with some states seeing far higher rejection rates than others, according to a new report from the National Association of Realtors (NAR). Three Southern states recorded the […]
New York-headquartered Rithm Capital, the parent company of multichannel lender Newrez, on Monday announced the successful closing of what it calls the largest-ever mortgage servicing rights (MSR) debt issuance. The MSR-backed note totals $878 million and is only the second nonrecourse MSR securitization in market history, following Rithm’s $461 million offering in November 2024. This […]
Amid a series of shakeups last week at the government-sponsored enterprises (GSEs) and its regulator, the Federal Housing Finance Agency (FHFA), two office closures inside the agency could hamper its fair lending and data gathering efforts that support the broader mortgage industry. The Trump administration has moved quickly to scale back the headcount of the […]
Tim Bowler, the president of ICE Mortgage Technology, appreciates a good analogy. The former Goldman Sachs managing director and U.S. Treasury official says that the mortgage technology giant’s integration of Black Knight isn’t dissimilar to building a rail line. Much of the underlying technology that powers Encompass, ICE’s core originations technology, runs on, let’s say, […]
As high property taxes continue to be a source of financial strain for homeowners, a proposal floated last month by Florida Gov. Ron DeSantis (R) to ban property taxes in the state appears to be gaining traction, according to a new report in the Wall Street Journal. The plan, while popular, is not without risk […]
Despite having lower overall volumes when compared to the forward mortgage business, Liberty Reverse Mortgage remains one of the more profitable segments of parent company Onity Group’s portfolio, according to information shared by executive leaders at a recent investor presentation. At this month’s Sidoti Virtual Investor Conference, Onity leaders including CEO Glen Messina and chief […]
One of the biggest housing stories so far this year is Rocket’s pending acquisition of Redfin. That acquisition also kicked off a new battle between Rocket and Zillow over who will get to the consumer first — and serve them best — through a housing ‘super app.’ In a presentation for investors, Rocket outlined how […]
The U.S. housing market remains challenging for prospective buyers as concerns over mortgage rates, home prices and affordability persist in 2025. With affordability shrinking, buyers are taking more risks to secure homes, according to HomeLight’s 2025 Lender Insights & Predictions survey. Findings include 71% of loan officers reporting an increase in buyers who are willing […]
The Federal Open Market Committee (FOMC)’s job is never easy as policymakers must sift through mounds of data to arrive at policy decisions that will never be universally applauded. But the committee’s task has gotten more difficult with the return of Donald Trump to the White House. The president’s desire to overhaul the federal government […]
The national delinquency rate edged up 5 basis points (bps) to 3.53% in February, which marked a month-over-month change of 1.45% and a year-over-year change of 5.69%. That’s according to Intercontinental Exchange’s (ICE) first look for its February 2025 month-end mortgage performance statistics. Today’s first look at the data revealed that FHA mortgages accounted for […]
The top executives at Freddie Mac, along with a top HR official at the Federal Housing Finance Agency (FHFA), were fired today, according to a report on SEMAFOR. The publication reported that Freddie Mac’s CEO, COO and head of HR plus the FHFA’s COO and head of HR were all fired on Thursday. The news […]
“There is no single, simple and scalable solution to this supply problem,” and we’ll need to build between 1.1 million and 1.5 million units over the next decade to start making a real dent in the undersupply problem, he said. Zoning/building codes/planning Speakers on Wednesday said the U.S. lags behind other advanced nations when it […]
Retirees and advocates for older Americans are expressing unease and bewilderment at a series of announcements made by the Social Security Administration (SSA). The agency is seeking to implement new in-person identity verification requirements and plans to close more than two dozen field offices across the country, according to CBS News. On Wednesday, SSA announced […]
In a move designed to increase the speed that recovery funds can be provided, the U.S. Department of Housing and Urban Development (HUD) on Thursday published a universal notice about Community Development Block Grant Disaster Recovery (CDBG-DR) programs that will consolidate guidance from disparate notices going back to 1992. The notice “consolidates relevant requirements from […]
On Wednesday, the Federal Open Market Committee announced its decision to maintain benchmark interest rates at a range of 4.25% to 4.5%, The move itself was unsurprising to the mortgage industry and market observers. The decision does not remove uncertainty around the short-term trajectory of mortgage rates, which have steadily declined over the past two […]
Only 24 hours after a sweeping move to transform the governing boards at the government-sponsored enterprises Fannie Mae and Freddie Mac, a board member with links to Elon Musk’s business empire and the U.S. DOGE Service who was appointed just the day before has left the board at Fannie Mae. Christopher Stanley, a cybersecurity engineer […]
Blue Ridge Bankshares Inc., the holding company for Blue Ridge Bank and BRB Financial Group Inc., on Thursday announced that Blue Ridge Bank has entered into a definitive asset purchase and sale agreement to sell certain assets of its mortgage division. A press release from Blue Ridge confirmed that the division, currently operating as Monarch […]
Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025. ” data-image-caption=” Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025. ” data-medium-file=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=300″ data-large-file=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=1024″ src=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?w=1024″ alt=”Rocket Companies hopes to close a $1.75 billion deal to acquire Redfin in 2025.” class=”wp-image-511728″ srcset=”https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg 1200w, https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?resize=150,84 150w, https://www.housingwire.com/wp-content/uploads/2025/03/Copy-of-Newsroom-Template-9.jpg?resize=300,169 300w, […]
The surge in first-time homebuyers during 2020 has led to a new trend: first-time home sellers. Many who bought during the pandemic are now rethinking their decisions, citing changing lifestyles, financial miscalculations, and shifting market conditions, according to new data from Opendoor. A survey of 1,000 first-time sellers found that 79% regretted aspects of their […]
Truework bolstered its mortgage technology platform by creating a new tool, Truework Intelligence, the company announced on Thursday. The platform will give property managers and mortgage lenders access to a comprehensive, end-to-end verification tool. Truework calls the new and improved platform the first automated and comprehensive income verification tool. The company said that Truework Intelligence […]
After taking the time to digest elements of a proposal from lawmakers in Hawaii, the National Reverse Mortgage Lenders Association (NRMLA) has expressed support for a measure to establish a state-run Home Equity Conversion Mortgage (HECM) program there. In a letter submitted by NRMLA to sponsor lawmakers at the end of February, the association explained […]
Financial services veteran Patrick Halonen has joined reverse mortgage lender and servicer Longbridge Financial as the company’s new head of credit policy, underwriting and quality control. “With over 25 years of expertise in the financial services industry, Halonen’s appointment underscores Longbridge’s continued commitment to enhance its operational frameworks as the company continues to expand,” the […]
Cardinal Financial Wholesale has introduced Cardinal Complete, a new loan processing solution aimed at streamlining operations for mortgage brokers. The platform offers an end-to-end processing service designed to reduce administrative burdens and improve efficiency from application to closing. The service, powered by Cardinal Financial’s proprietary loan origination system, Octane, provides brokers with a dedicated team […]
There was no surprise on Wednesday as the Federal Open Market Committee (FOMC) chose to leave the federal funds rate unchanged at a range of 4.25% to 4.5%. The decision was almost universally expected by market observers as the Federal Reserve weighs data that could be pushing the U.S. toward a recession. The short-term direction […]
Better Home & Finance Holding Co. on Wednesday reported its financial results for the fourth quarter and full year of 2024. The earnings release touted growth compared to 2023 and detailed the company’s plans of “diversifying Better’s offering, and leveraging Tinman to power local loan officers” through a new program. Better shared an update on […]
Mortgage applications decreased 6.2% from last week, which marked the first decrease in several weeks. That’s according to the latest data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 14, 2025. The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis […]
Editor in Chief Sarah Wheeler sat down with Chad Smith, president and COO of Better Mortgage, to talk about leadership, technology, and how they have pivoted their business strategy to meet the needs of this market. Smith joined Better in May 2024 after serving in senior leadership roles at Mission Loans, Caliber Home Loans and […]
Reverse mortgage business in the early part of 2025 has been humming along consistently, though not exactly “booming” as mortgage rates remain elevated and lenders are moving on their own initiatives to expand business and further forge partnerships with the forward mortgage side of the industry. This is according to descriptions by some of the […]
The state of the U.S. housing market — particularly its levels of affordability, available inventory and accessibility for those with mobility or cognitive challenges — presents a unique challenge for older Americans on fixed incomes. This has led to a “failure” to properly serve the senior cohort. These are the assertions of a report published […]
Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs. Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from licensed agents. The collaboration aims to simplify policy management and renewals while helping […]
Mortgage rates appear to have plateaued after several weeks of steady downward movement. On Tuesday, 30-year conforming rates were at 6.79% and 15-year conforming rates were at 6.58%, according to HousingWire’s Mortgage Rates Center. The 30-year rate is unchanged from a week ago while the 15-year rate has risen by 12 basis points. The Federal […]
In the wake of broader regulatory pullback by the federal government, Wells Fargo announced this week that the Office of the Comptroller of the Currency (OCC) terminated a 2021 consent order over loss mitigation deficiencies in its home-lending business, which itself also stemmed from what the OCC said was a result of the bank violating […]
Had things worked out differently, Monday would have been Michael Brennan’s 10-year anniversary at Movement Mortgage, a company he thought he’d work at until retirement. Brennan joined Movement in 2015 as a regional manager, organically growing the Northeast to a $3 billion a year operation. He climbed the ladder to the role of president, and […]
Not wasting any time following his Senate confirmation last week, Federal Housing Finance Agency (FHFA) Director Bill Pulte made a series of major changes to the boards of government-sponsored enterprises Fannie Mae and Freddie Mac according to filings with the Securities and Exchange Commission (SEC). The news was first reported by Inside Mortgage Finance. Based […]
Verification technology company Xactus on Monday announced the launch of its open API portal, which allows partners to access integration rules that enable a faster, easier way to integrate their own tools or platforms with Xactus360, an Intelligent Verification Platform (IVP). “Launching our open API portal is a major milestone in Xactus’ journey to becoming […]
More state attorneys general are getting in on the Real Estate Settlement Procedures Act (RESPA) action. In mid-January, Pennsylvania’s former attorney general Michelle Henry filed a kickback lawsuit against Barry Newhart and six mortgage entities he controls: Bright Financial Group, Conquest Mortgage, Flagship Home Loans, Legacy Mortgage Partners, Nittany Home Loans, MCT Financial, Conquest Holdings […]
A bill being deliberated in the Washington State Senate regarding a foreclosure mediation program would except reverse mortgage borrowers over the age of 61. However, this would not include slightly younger borrowers seeking a proprietary reverse mortgage within the state, and the National Reverse Mortgage Lenders Association (NRMLA) has requested that the bill be updated […]
The Mortgage Collaborative‘s (TMC) Emerging Technology Fund hosted its seventh annual Mortgage Tech Demo Day (MTD) on March 16 at the collaborative’s “Live Large, Think Big!” conference in Arlington, Texas. Sponsored by Docutech, MTD allows early-stage mortgage tech companies to showcase their technology to industry leaders, investors and venture capitalists. Six forward-thinking startups were selected […]
Since the inauguration of President Donald Trump, his administration has aggressively sought to curtail the functions of the Consumer Financial Protection Bureau (CFPB). This has led to a coordinated legal response from a cadre of its employees and consumer advocacy groups, seeking to reverse some of the administration’s actions. But one industry that has emerged […]
Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nation’s leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025. This was some of the perspective shared this week by Kristen Sieffert, president […]
Following a series of moves by key White House leaders at the Office of Management and Budget (OMB) and the U.S. DOGE Service that are ostensibly designed to limit or dismantle the Consumer Financial Protection Bureau (CFPB), its former director appeared Friday morning on CNBC to discuss the upheaval while warning consumers about the risks […]
Toronto-based TD Bank and Hicksville, New York-based Flagstar Bank have announced plans to shutter numerous branches across several states. TD Bank confirmed to American Banker that it intends to close 38 branches in 10 states and Washington, D.C. And a recent bulletin from the Office of the Comptroller of the Currency (OCC) show that Flagstar […]
Bill Pulte, the newly confirmed director of the Federal Housing Finance Agency (FHFA), is wasting no time in making a splash with Fannie Mae and Freddie Mac, suggesting they too might receive the DOGE treatment that other government entities have already experienced. In a series of messages posted to his X account on Friday morning, […]