housing wire

What a crazy day for my economic model! On the same day, the Bureau of Labor Statistics (BLS) revealed that we’ve recovered all the jobs lost to COVID-19 and I am raising my sixth recession red flag. When I wrote

Guild Mortgage’s second-quarter earnings suggest that a high share of purchase loans won’t necessarily be enough to protect lenders from the most challenging and volatile mortgage market in years. They’ll have to cut costs and grab opportunities as they emerge. The

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire recently spoke with Erin Reed, vice president of originations, valuations and operations at ServiceLink

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Some of the nearly 360 comments came in late on Thursday, a day

Amid fears and talk of a recession, job growth in the U.S. remained strong in July, with nonfarm payroll employment rising by 528,000 jobs from the month prior, according to data released Friday by the Bureau of Labor Statistics. After

With just under two months until HW Annual, it is important to make your hotel reservations now to join us in person for this power-packed event. HW Annual will take place from Oct. 3-5 at the Fairmont Princess Resort in

In recent months, interest rates have risen to their highest level in years as the Federal Reserve has embarked on an aggressive tightening campaign in an effort to fight inflation. Despite rising rates, demand for home equity lines of credit

The current administration has been in office for over a year and a half, and with that tenure, a lot of the new housing officials have had time to create and announce their core initiatives. To help bring you the

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout. As with other lenders seeing huge declines in mortgage origination volume, Finance of America’s

During this period of rising rates and general rate volatility, having the cash and credit lines on hand to ride out the rough patches in the market — known as liquidity — can be what separates the winners from the

The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months. The overall delinquency rate rose nine basis points to 2.84% in June, according to Black Knight. The delinquency rate is

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department.  Lauren Witherspoon, director of human resources, wrote: “Circumstances will force

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Several

Gone are the days that loan originators received hefty signing bonuses to crank out refi after refi. But make no mistake, even in a down mortgage market lenders are still dangling signing bonuses to recruit high-producing LOs who can eat

Our local market feature spotlights five different areas across the country for each HousingWire Magazine. Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. Rapid City, South Dakota Rapid

Three alleged charlatans from Houston have been nabbed by federal authorities and taken into custody on charges related to mortgage fraud, credit repair and government loan fraud, the Department of Justice said on Friday. The DOJ claims that Heather Ann

This week’s HW+ member spotlight features Omar Ennabe, who serves as president at Ennkar, a reverse mortgage lender. Below, Ennabe answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why? Omar Ennabe: I enjoy reading anything Chris Clow

Women are not only dominating in the mortgage and real estate industry, but also they are making room at the table for a new generation of women to do the same. To help fuel this growth for future and current

Both Fannie Mae and Freddie Mac this week made two senior hires that increase diversity in leadership at the enterprises, where the leadership skews toward white and male. At Freddie Mac, Dennis Hermonstyne Jr., who previously worked at Santander Bank,

Guaranteed Rate is looking to diversify its product mix amid the mortgage downturn. The mortgage lender has rolled out its first personal loan product. Customers can apply for personal loans in 10 minutes and receive funds between $4,000 and $50,000

Fannie Mae has executed two new Credit Insurance Risk Transfer (CIRT) deals — the seventh and eighth of 2022 — dubbed CIRT 2022-7 and CIRT 2022-8.  The two transactions convey a combined $1 billion in mortgage credit risk to private insurers

Flyhomes is the latest venture capital-fueled real estate company to fall victim to the slowdown in the housing market, opting to lay off 20% of its staff this week. To operate in a fiscally “prudent and sustainable” manner in the

Live Oak Bancshares and its subsidiary Live Oak Bank have appointed Casey Crawford, the co-founder and chief executive officer of Movement Mortgage, to its board of directors.  North Carolina-based Live Oak Bank’s goal is to be “America’s small business bank,”

Non-QM lender First Guaranty Mortgage Corp. (FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Sprout Mortgage imploded in early July, leaving its employees