housing wire

Revenue and net income were both down for Fannie Mae and Freddie Mac in the third quarter, and the two government sponsored entities (GSEs) expect the housing market to deteriorate further in the fourth quarter. Collectively, the GSEs have set

California lender New American Funding issued pink slips to 240 employees last week, bringing the total cut this year to nearly 1,000. The force reductions come after two years of rapid expansion. “The mortgage market slowdown is unfortunately affecting our

On Friday, the Bureau of Labor Statistics reported that 261,000 jobs were created and we had 29,000 positive revisions to prior reports. This means the honey badger labor market will keep the Federal Reserve from pivoting anytime soon.  This has

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. are white, while 8% are Hispanic, 3% are Black and 2% are Asian. The share of Black and Asian

This week’s HW+ member spotlight features Aaron Smith, vice president at sales at Next Door Photos. HW Media: What is your current favorite HW+ article and why? Aaron Smith: I love everything RealTrends. It helps cut through the noise of the market and shows you what

There has been a flurry of recent articles prognosticating a decrease to Federal Housing Administration (FHA) insurance premiums. Several trade groups including the Mortgage Bankers Association have corresponded with the HUD Secretary in support of cuts. One news article suggested a possible

United Wholesale Mortgage (UWM) is now the biggest mortgage lender in America, thanks in large part to a cut-rate pricing strategy that has put extreme pressure on competitors. UWM originated $33.5 billion in the third quarter, toppling its arch rival

Retail lender and servicer Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. “In the face of market volatility and economic uncertainty, Mr. Cooper

Rocket Companies, the parent of Rocket Mortgage, lost money in the third quarter and also appears to have lost its title as America’s largest mortgage originator. Rocket originated $25.6 billion in mortgage volume in the third quarter, which was 71%

Job growth continued in October, but at a slower pace as the Federal Reserve continues to raise interest rates. Total nonfarm payroll employment rose by 261,000 jobs from September, according to data released Friday by the Bureau of Labor Statistics.

The Federal Reserve’s tightening of monetary policy is causing mortgage rates to rise rapidly. For lenders, that means finding new ways to drum up business, like introducing programs that try to convince borrowers to ‘marry the house and date the

A team of more than 60 mortgage bankers at now-defunct Finance of America Mortgage has landed at Hallmark Home Mortgage. The retail team covers the states of Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas. Marc Wadman will continue

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. In the midst of this, a potential lapse in the National Flood Insurance is top of mind

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. Borrowers can use this loan to finance a manufactured

Amid a surprisingly strong U.S. economic performance and persistent inflation, the Federal Reserve on Wednesday raised the federal funds rate by another 75 basis points, to 3.75%-4%, launching it to the highest level since December 2007. The decision, expected by

The National Association of Mortgage Brokers (NAMB), a trade association representing mortgage professionals and homebuyers since its establishment in 1973, announced its agenda for 2023 at it NAMB National conference. According to a statement, NAMB pledged to advocate for a

It’s clear that 2023 will be a very different year for the title industry than what we’ve experienced in the recent past. Despite the forecasted decline in orders, we’re still expecting an overall origination volume of just over $2 trillion.

Rithm Capital, formerly known as New Residential Investment, delivered a $124.5 million profit from July to September, due primarily to its servicing portfolio performance. In the third quarter, the company intensified the diversification of its businesses and further downsized its mortgage business amid

Borrowers’ demand for mortgage loans declined at a slower pace last week when mortgage rates dropped slightly ahead of the Federal Reserve’s (Fed) meeting to announce the new target for the federal funds rate.  According to the latest survey from the Mortgage

Things were looking good for the Securing and Enabling Commerce Using Remote and Electronic Notarization (SECURE) Act as of late July after it passed in the House of Representatives as part of a package of bills. However, the bill’s momentum

HW Media Update Starting in 2018, HW Media started focusing on events for marketers with Engage Marketing. In 2022 this tradition was continued with the Marketing Leader Success Summit at HousingWire Annual in Scottsdale. In this update Clayton Collins and

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. These borrowers are hoping that rates will decline enough in the next few years that

Single-family rental behemoth Invitation Homes is seeking a joint venture partner to take advantage of the latest drop in home prices, according to a report by Bloomberg. The company is working with commercial brokerage Eastdil Secured to find a partner

Annual home-price growth slowed further in August, with year-over-year price gain shrinking for the fifth consecutive month, according to the S&P CoreLogic Case-Shiller National Home Price Index, released Tuesday. Nationwide home prices posted a year gain of 13.0% in August, bringing