Aggressive tariffs, mortgage rates near 7% and declining consumer sentiment could all have a major impact on the housing market. The Mortgage Bankers Association (MBA) has adjusted its outlook in response. The trade group downwardly revised its expectations for existing-home sales and mortgage origination volume for the rest of the year. MBA now forecasts existing-home […]
Adjustable-rate mortgages (ARMs) have grown in popularity in recent months as borrowers search for affordability relief anywhere they can find it. With rates in the high-6% range on 30-year fixed products, borrowers are increasingly turning to 7/1 ARM products, said Mike Fratantoni, chief economist for the Mortgage Bankers Association, during the trade group’s Secondary & […]
John Williams, the president of the Federal Reserve Bank of New York, acknowledged a deterioration in business and consumer sentiment due to uncertainty tied to trade and fiscal policies — although this has not yet shown up in the “hard data.” As a result, he expects the U.S. economy to slow this year. According to […]
In just one year, the mortgage industry has gone from raising “concerns about too much government” to “hearing concerns about too little government,” said Laura Escobar, chair of the Mortgage Bankers Association (MBA) and president of Lennar Mortgage. In 2024, the trade group expressed frustration over what it described as “regulatory knots,” criticizing government initiatives […]
Non-QM (Non-Qualified Mortgage) lending has become essential to today’s mortgage landscape, providing solutions for creditworthy borrowers who fall outside traditional lending criteria. Gregory Tsang is the Chief Executive Officer and co-founder of eRESI, a Non-QM correspondent whole loan investor offering both Delegated and Non-Delegated options. Co-founded in 2019 alongside President Tim Wang, eRESI was created […]
HousingWire recently sat down with Erin Wester, Optimal Blue’s chief product officer and a 2024 HousingWire Women of Influence honoree, to discuss how lenders can simplify capital markets operations and improve profitability with the right technology partner. Sarah Wheeler: Capital markets is often viewed as the most complex part of mortgage lending. Do you believe […]
Reverse mortgage originators often remain a key point of contact for their clients from initial consultation to long after the loan closes. But getting to the closing table can come with its own set of unique challenges, whether it comes from rules that govern the Home Equity Conversion Mortgage (HECM) program or the potential bias […]
The Consumer Financial Protection Bureau (CFPB), under the leadership of acting director Russell Vought, is continuing to assess regulations it deems outdated or unnecessary. To that end, the bureau published a notice in the Federal Register this week that seeks to rescind a 2021 rule which “temporarily permitted mortgage servicers to offer certain loan modifications […]
Rocktop Technologies LLC, a technology and artificial intelligence-enabled solutions-as-a-service firm, announced the acquisition of Incenter Capital Advisors, which provides advisory services in the trading and pricing of mortgage servicing rights (MSRs) and post-transactional support in the transference of these assets. The acquisition, announced on Friday, unites Rocktop’s data and document infrastructure that supports valuation, transaction […]
Selene, a provider of industry leading loan servicing, diligence and title solutions, today announced the appointments of Jocelyn Martin-Leanoas President, Selene Finance and Doug Whittemore as Chief Strategy and Growth Officer for all Selene Holdings’ business lines, effective immediately. In these roles, Martin-Leano will oversee all Selene Finance operations and Whittemore will focus on Selene’s […]
The federal judge overseeing the case brought by reverse mortgage lender Longbridge Financial against market leader Mutual of Omaha Mortgage over allegedly deceptive advertising practices has ruled that some of Longbridge’s claims warrant limited injunctive relief, finding that “the law and facts clearly favor some of Longbridge’s claims.” The order was handed down Tuesday by […]
United Wholesale Mortgage (UWM) is rolling out new artificial intelligence (AI)-powered tools designed to help brokers analyze competitors’ loan estimates and assist borrowers online. The tools aim to improve retention as refinancing activity is expected to rise. The company announced the launches during its UWM Live! event on Thursday in Pontiac, Michigan, amid intensifying competition […]
In recognition of the cohort’s size and contribution to the state, the Alaska Housing Finance Corporation is aiming to offer tips to older residents to make it easier for them to age in place in their own homes. According to a 2024 report from the Alaska Commission on Aging, the state is home to more […]
HousingWire reports on the quarterly earnings of publicly traded mortgage and real estate companies, offering a glimpse into the financial performance of key players in the housing market. As earnings results wrap up for the first quarter of 2025, here’s a rundown of what’s happened at the major lenders, brokerages, listing portals and title firms. […]
The national critical defect rate for mortgages fell to 1.16% in the fourth quarter of 2024. That marked the second-lowest level on record, according to a report released Thursday by ACES Quality Management. For the entire calendar year of 2024, the average critical defect rate was 1.52%, down 9.52% from 2023. Post-closing quality control data […]
One of the nation’s leading reverse mortgage lenders, Finance of America (FOA), posted strong first-quarter 2025 earnings results. The company beat its estimates for funded loan volume, posted a profit and maintains a bullish outlook for the quarter ahead. Drilling down deeper into the marketing and product landscape for the company, FOA President Kristen Sieffert […]
While on its face it represents positive momentum for health in the U.S., rising life expectancy also comes with a key financial concern — longevity risk, or the potential for someone to outlive their retirement savings. This is a key challenge that many prospective retirees may not be ready for. This is according to research […]
BOK Financial recently announced the launch of its new mortgage finance line of business, a new vertical dedicated to meeting the credit needs of nonbank mortgage originators across the country. As a top 10 dealer of mortgage-backed securities that offers trading liquidity to more than 500 counterparties, BOK Financial has supported its client base for […]
Ohio-based Union Home Mortgage (UHM) on Wednesday announced a partnership with ARIVE, a lending software platform built specifically for independent mortgage professionals. With ARIVE, UHM brokers will be able to originate from anywhere, issue preapprovals, manage leads, access products and pricing, and more. The partnership will also connect UHM to a network of users and […]
Mortgage applications increased 1.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 9, 2025. On an unadjusted basis, the index increased 1% compared with the previous week. The seasonally adjusted purchase index was a bright spot this week, increasing 2% from […]
After lawsuit challenging the government’s authority to extinguish stakes in securitized Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgages (HECMs) was recently decided in favor of Ginnie Mae, the plaintiff in the case has made good on its promise to appeal the decision. Texas Capital Bank (TCB) — which initially filed the lawsuit against Ginnie […]
The delinquency rate for U.S. residential mortgages rose slightly in the first quarter of 2025. This was partially driven by an uptick in conventional loan delinquencies and rising foreclosure inventory, particularly among loans backed by the U.S. Department of Veterans Affairs (VA). The Mortgage Bankers Association (MBA) reported Tuesday that the seasonally adjusted delinquency rate […]
The technology posture of the federal government’s housing apparatus has been a hot topic of discussion for years. Advocates have advised — and sometimes warned — of the need to modernize the tech infrastructure at government housing agencies. With the dawn of artificial intelligence (AI) and its increasing dominance in the tech landscape, the Federal […]
Mat Ishbia, CEO of United Wholesale Mortgage (UWM), the top U.S. mortgage lender, unveiled on Tuesday the company’s ambitious goal to reach $280 billion in mortgage production by 2028. That is more than double the $137.8 billion UWM originated in 2024, a year in which the wholesale lender posted a 28% year-over-year increase despite heightened competition […]
Although mortgage rates haven’t come down significantly as many Americans have wished for, lenders are reporting increased demand for home purchase loans and don’t seem overly concerned by economic conditions that are far from ideal. Data at HousingWire’s Mortgage Rates Center on Tuesday showed that 30-year conforming rates averaged 6.88%, down 1 basis point (bps) […]
Multichannel mortgage lender Lower has struck a deal to acquire real estate portal Movoto from parent company OJO Labs, marking another industry transaction aiming at building an end-to-end homeownership platform. Financial terms of the deal were not disclosed. The acquisition will give Lower’s retail network—comprising 478 sponsored loan officers across 76 active branches as of […]
Mesa has announced an exclusive collaboration with Paramount Residential Mortgage Group (PRMG), introducing a co-branded credit card that rewards homeowner loyalty on mortgage payments. The partnership, which is now available to all qualified PRMG borrowers, allows card holders to earn rewards and Mesa Points on monthly mortgage payments and accelerated points on home-related and everyday […]
While much of the housing industry views Rocket Companies’ proposed acquisition of Redfin as a foregone conclusion at this point, at least one common stock holder is saying not so fast. On Friday in U.S. District Court in Seattle, plaintiff Jason Morano filed a lawsuit accusing the two companies of breaching their contracts, engaging in […]
The so-called “silver tsunami” — referring to some kind of “rush” of older people into certain places, out of the workforce or to their housing stock, depending on who you talk to — has larger communities scrambling about how to effectively absorb more older residents. High-profile retirement destinations including South Florida and California have openly […]
The Consumer Financial Protection Bureau (CFPB), which is undergoing significant changes under the Trump administration, has rescinded 67 guidance documents issued since 2011, including several that affect the mortgage industry. “Some of the withdrawn guidance was helpful to clarify regulations, which gave lenders certainty and could also be useful if defending against private litigation with […]
The lending playbook needs an overhaul Let’s cut through the noise: The mortgage market isn’t changing; it’s already changed. Volatility is the norm, margins are squeezed within an inch of viability and borrowers expect a frictionless experience every time. If your entire business still revolves around purchase and refinance, you’re not just playing catch-up, you’re […]
Bidding wars for producing mortgage loan officers are back with a vengeance — and it’s largely in the hopes of capitalizing on an upcoming refinance wave, recruiters and executives tell HousingWire. Just ask Candice McNaught, the senior vice president of business development and strategic initiatives at Connecticut-based Planet Home Lending. McNaught has the tough task of […]
The mortgage market might still be sluggish, but for originators willing to look beyond the traditional, there’s real momentum building in the non-QM space. Tom Davis, Chief Sales Officer at Deephaven, is helping lead that charge — working with sales teams across the country to grow not just volume, but trust. In this conversation, Davis […]
Older homeowners living on a fixed income have a higher chance of seeing their finances destabilized by rising costs, and that can be particularly true of something like property taxes. For homeowners who have either a forward or reverse mortgage on their home, these costs also must be paid in order to keep the loan […]
State lawmakers in New York have introduced legislation that would block mortgage lenders from receiving title insurance payouts when real estate transactions are later found to be based on stolen deeds. S.B. 7732 was introduced May 2 and seeks to prohibit title insurers from compensating lenders for losses tied to transactions deemed “false or fraudulent.” […]
While awaiting Senate confirmation to lead the Consumer Financial Protection Bureau (CFPB), Jonathan McKernan was nominated Friday by President Donald Trump for a key role at the U.S. Department of the Treasury, according to Treasury Secretary Scott Bessent. Bessent said in an announcement that the president’s intention is to nominate McKernan as the Treasury department’s […]
Blend Labs, Inc. reported its Q1 2025 earnings Thursday, touting a turnaround as its financial losses narrowed, deal pipeline strengthened and it landed major clients while sharpening its focus to become “software-first.” SEC filings show that Blend’s platform revenue for the first quarter came in at $26.8 million, nearly all of which was from its […]
New York Attorney General Letitia James is the target of a criminal investigation related to mortgage fraud, following a referral by Federal Housing Finance Agency (FHFA) Director Bill Pulte, multiple news outlets reported Thursday. The U.S. Department of Justice alleges that James falsely claimed she intended to make a single-family home in Norfolk, Virginia, her […]
The expense associated with originating mortgage loans has been escalating, with the current average cost approximating $11,600 per loan. A substantial component of this expense is attributed to Loan Officer Compensation (LO Comp), which typically constitutes 1% to 2% of the loan amount and represents nearly half of the total origination cost. This heightened compensation […]
Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper. But the second quarter is expected to look different. While the macroeconomic landscape made mortgage production more […]
Nearly 30% of U.S. homeowners would consider tapping their home equity via products like a home equity line of credit (HELOC) due to ongoing concerns about the economic climate, stemming from a rise in volatility and uncertainty over the past three years. This comes from survey data collected by MeridianLink, a software vendor for the […]
An analysis released Thursday by MortgageResearch.com suggests that the average new college graduate likely won’t be able to afford a home until April 2034 — nearly 10 years after graduation — due to a triple burden of surging home prices, student loan debt and modest entry-level salaries. The study, which uses average federal student loan […]
Today’s best loan officers operate differently and expect more. If you believe you can originate mortgages today in the same way they were done in 2018, you’ve probably been on a very remote island since then. Things like AI, well-integrated technology, consumer expectations and the rise of a number of innovative new business models have […]
In beating its estimates for funded loan volume — and by posting a profit — in the first quarter of 2025, reverse mortgage lender Finance of America (FOA) saw its volume improve by nearly one-third compared to numbers from Q4 2024. The company is maintaining a bullish outlook for business in the months ahead. The […]
The U.S. Department of Agriculture (USDA)’s Rural Housing Service (RHS) has implemented a final rule that allows for the financing of manufactured homes through the RHS Single Family Housing (SFH) Direct Loan Program and the SFH Guaranteed Loan Program. The rule makes existing manufactured homes meeting specific criteria eligible for financing under the programs, according […]