housing wire

Mortgage rates, rates New York-based Mortgage Industry Advisory Corp. (MIAC) is in the market with two whole-loan offerings of nonperforming Ginnie Mae-insured mortgages that combined are valued at more than $1.2 billion. The two deals involve nonperforming loans that are eligible for

Nonbanks and mortgage subsidiaries of chartered banks reported grim profitability figures in the fourth quarter of 2021, when costs reached a new high and margins fell to the lowest level since early 2019. And most industry observers think it will

Digital mortgage platform Maxwell has brought on Amy Brandt to its board of directors to gain perspective on the challenges that lenders face and the gaps in the mortgage digitalization process. A veteran with two decades of experience in digital

Freddie Mac today named Wendell Chambliss, its top counsel for affordable housing goals, as chief diversity and inclusion officer. Chambliss will assume the role April 11. Chambliss will take over for Dionne Wallace Oakley, who has been balancing the diversity

Servicers’ forbearance portfolio volume dropped in February for the 21st-consecutive month, with more borrowers current on their mortgage payments due to improvements in the economy and viable loss mitigation options. The total number of loans in forbearance decreased by 12

Fannie Mae is off to steady start on its path toward issuing $15 billion in notes this year through its Connecticut Avenue Securities (CAS) real estate mortgage investment conduit, or REMIC. The agency is about to unveil its third deal

Most title business owners dream of the day they can sell the firm they’ve built for the maximum multiple. Others look forward to building their brands with strategic acquisitions when the timing is right. Here are some tips and pointers

During the Great Recession, “zombie foreclosures” were a thorn in the side of servicers. With no money to pay their mortgages, some underwater borrowers simply abandoned their homes. When the Covid-19 pandemic began in March 2020, zombie foreclosures were one

Tomo, a fintech startup focused on the purchase mortgage sector, announced raising a $40 million Series A led by SVB Capital, according to a press release shared with FinLedger. The fundraise more than doubles Tomo’s valuation to $640 million. It

With refinance volumes anticipated to decrease by 62% this year and many originatorsexperiencing layoffs, lenders are looking for a way to diversify their offerings with non-QM products and gain new business in order to maintain profits. “I think non-QM could

The Federal Housing Finance Agency (FHFA) on Friday finalized proposed changes to the enterprise regulatory capital framework. The amendments replace the fixed prescribed leverage buffer amount — currently 1.5% of an enterprise’s adjusted total assets — with a dynamic buffer

United Wholesale Mortgage (UWM) just sued two more broker shops that allegedly violated its controversial broker agreement by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal

CFPB Director Rohit Chopra The Consumer Financial Protection Bureau (CFPB) announced Wednesday that it may propose a rule to regulate the use of automated valuation models (AVMs) by lenders and appraisers. The government watchdog is concerned that automated valuation models

Offerpad CEO Brian Bair Get out the streamers and kazoos and start preparing the hors d’oeuvres – an iBuying company has reported a year’s worth of profitability. Offerpad Solutions generated $6.5 million for the year 2021, company CEO, chairman and

An appraiser who wrote a racist email to a researcher has received a response — but not likely the one he wanted. In an emailed tirade, appraiser Dave LaVigne lambasted appraisal bias researcher Elizabeth Korver-Glenn for her research on appraisal

HousingWire recently spoke with Amanda Phillips, ACES Quality Management’s EVP of Compliance, about the current compliance landscape with CFPB updates and how lenders can ensure they’re compliant with fair lending and fair servicing.   HousingWire: How does Fair Lending affect

Discount brokerage REX Homes (Real Estate Exchange, Inc.) filed a motion on Thursday in federal district court in Seattle challenging the legality of the National Association of Realtors’ claims that REX pushes false advertising, which the trade group alleged in

Mortgage applications decreased 13.1% for the week ending Feb. 18 to the lowest level since December 2019, as mortgage rates eclipsed the 4% mark. The Mortgage Bankers Association‘s seasonally adjusted refi index fell 15.6% from the previous week, bringing its

CoStar continues to grow and make money, and if you don’t like it – tough. “Like any company we have people who decide the demands of the environment are not for them and that’s fine,” said Andy Florance, CoStar’s CEO,

The S&P CoreLogic Case-Shiller 20-city price index posted a 18.6% year-over-year gain in December, up marginally from 18.3% the previous month. The index increased 1.5% from November 2021. The national home price index showed similar helium, with an 18.8% growth rate between

Federal finance and housing regulators today issued a statement to assure lenders they are on the same page when it comes to special purpose credit programs. The missive from the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of

With rising interest rates and compressed margins, many lenders are looking totheir servicing business to grow revenue. However, working with borrowers exitingforbearance programs adds another layer to an already complex process whichcould raise costs. Lenders who want to thread the

It is possible to continue to increase your volume this year despite current challenges. We know that refinance volume is declining, Agency business will shrink and get more expensive and an increasing number of borrowers will not qualify under Agency

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Economists had predicted rates would rise as the overall economy stabilized. The latest mortgage rate survey from Freddie