housing wire

There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. But there is the promise of a better future on

It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Since the summer of 2020,

The Manufactured Housing Institute (MHI) appreciates that the Biden administration has created a White House Task Force on Manufactured Housing. We also commend the administration for the White House initiative announced a week ago Monday to “Ease the Burden of

In the midst of a competitive purchase market, it’s more important than ever to foster existing borrower relationships. In light of this, HW Media CEO Clayton Collins spoke with Steve Reich, COO at Finance of America Mortgage, to learn more

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment.

Freddie Mac will now automatically verify borrower employment 10 days ahead of closing, which it says is more efficient than obtaining that information through oral or written verification. The option will be available starting June 1. To verify the borrower’s

At least two financial institutions brought back adjustable-rate mortgage (ARM) products this week amid surging mortgage rates and double-digit home price growth. Michigan-based wholesale lender Homepoint rolled out a jumbo ARM product offering a maximum loan amount as much as

Homeowners in New York who are knee-deep in foreclosure litigation may soon get a break, as a piece of legislation making its way to Gov. Kathy Hochul’s desk could discharge a swath of foreclosure cases pending in state and appellate

Blend Labs reported a $73.5 million loss in the first quarter, but pointed to the performance of its mortgage banking and title sectors as a positive sign for the rest of the year. The company’s revenue rose to $71.5 million,

Mortgage servicing is a scale business, meaning the economics of scale can be achieved with larger servicing portfolio by spreading the fixed costs among more loans being serviced. Such scaling; however, hasn’t achieved the expected results as indicated by both

Not everyone can afford to invest in rental property in the area they live in. In some regions, housing prices are so high that it may be difficult to add to your real estate portfolio. Whether cash buyers outbid you

Rates are rising. Refinances are falling. Inventory is contracting. Application fallouts are worsening. It’s getting harder out there. Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic

Home Point Capital, the parent company of wholesale lender Homepoint, continues to turn profits based on the selling of operations and assets as management adjusts the company to the shrinking mortgage market. The wholesaler reported on Thursday morning it notched a

An ebullient market for mortgage-servicing rights (MSRs) helped to buoy the profitability of at least three major nonbank lenders that are publicly traded and abated losses for a fourth, based on their recently announced first-quarter financial results. Those lenders are UWM Holdings Corp., the

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. A homeowner is considered equity rich when they have

The U.S. Senate confirmed Julia Gordon on Wednesday evening to serve as commissioner of the Federal Housing Administration (FHA). The position is part of the Department of Housing and Urban Development. Gordon, who most recently stepped down from her role

Purchase mortgage rates this week averaged 5.30%, up three basis points from a week ago, causing homeowners’ monthly payments to increase by about one-third year-over-year, according to the latest Freddie Mac PMMS. Borrowers continue displaying resilience, but higher rates expected in coming months

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market. Fannie’s Economic and Strategic Research (ESR) Group dropped its projected single-family

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in

eVaults are an integral part of any end-to-end digital mortgage transformation. They enable lenders to originate and securely hold eNotes and accelerate capital market transactions. eVaults also support an enhanced customer experience for borrowers and streamline interactions with other participants

In the first article of this series, I discussed the argument for turning Fannie Mae and Freddie Mac into public utilities, which would result in more Americans having fair access to mortgage services. However, regulating government-sponsored enterprises (GSEs) as public

Wholesale lender Homepoint is becoming a broker of sorts…for mortgage brokers. The Ann Arbor, Michigan-based company has launched a referral program aimed at connecting mortgage brokers with regional homebuilders as well as homebuyers. Homepoint’s “New Build program” connects homebuilders with

Bonnie Williamson never intended to be a real estate agent. As a French major and Russian and political science minor at the University of Michigan, Williamson had initially entertained the idea of going into politics. Instead, she was recruited out