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 […]
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 […]