Federal Reserve Bank of Boston President Eric Rosengren slammed the U.S. response to the COVID-19 pandemic, saying “inconsistent efforts” among states have caused the chance of a quick economic recovery to “fade.” “As long as the virus poses significant threats
New fee on mortgage refinances could cost homeowners $1,400
[UPDATE] This article was updated on 8/13 to include a statement from the FHFA. Refinance mortgage loans sold to Fannie Mae and Freddie Mac after Sept. 1 will include a new adverse-market refinance fee of 0.5%, the two government sponsored
How to Get a Home Loan: 10 Steps to Success
It’s an exciting moment when you decide to charge ahead and purchase your first home. You look forward to finding the right house in a neighborhood you like and settling in to become part of the community. Plus in terms
UWM 1.99% 30-year mortgage rate comes with a catch
United Wholesale Mortgage announced Tuesday it is offering conventional mortgage rates as low as 1.99%, but brokers warn this rate isn’t for every borrower, or even the majority. “You won’t find a no-cost loan in the low 2s or high
In a hot housing market, gap between purchase price and appraiser condition ratings causes headaches
Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. This week, appraisal experts said those same variables are having a profound impact on an age-old conflict of appraisal reports
Till raises $8 million in seed funding for flexible rent platform
Till, a startup that aims to help renters set up customized payment schedules, has raised $8 million in a seed funding round. Route 66 Ventures, MetaProp and NextGen Venture Partners participated in the financing, the first external round of funding
MBA asks CFPB to extend GSE patch
The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels
Kamala Harris, Biden’s VP pick, played hardball with banks during financial crisis cleanup
Note: The original story ran on June 26, 2020. It was updated on August 11, 2020, to reflect Sen. Kamala Harris’ recent appointment as presidential candidate Joe Biden’s running mate. Sen. Kamala Harris (D-CA), chosen by former Vice President Joe
[PULSE] Black lives, Black families and Black homeownership matter
There is a 30-point difference between white and Black homeownership rates in the U.S. today. Shockingly, the gap is wider than it was in 1968, when the federal government first outlawed racially based housing discrimination. Sadly, the pandemic, which is
Offerpad expands iBuying in Central Florida
Offerpad announced on Tuesday the expansion of its Real Estate Solutions Center into Port St. Lucie, Florida, as the first iBuyer in the region. The company resumed making cash offers in different parts of the country on May 8. Through
Rent payments collected in August tick down
The amount of rent payments collected in the U.S. has ticked down slightly to 79.3% of apartment households making a full or partial rent payment by August 6, according to the National Multifamily Housing Council’s Rent Payment Tracker. While this
Women lead industry through the haze of pandemic
As the holidays ramped up in early December 2019, Woman of Influence Charlotte Catalfo had her eye not on decorating and gift-wrapping, but on a small but worrisome health crisis escalating halfway across the globe. From the suburban Virginia headquarters
How a cloud-based tax platform benefits mortgage servicers
HousingWire President and CEO Clayton Collins recently sat down with Eric Christensen, product management executive at CoreLogic, to discuss recent updates to the company’s DigitalTax Platform. CoreLogic has invested more than $35 million into its DigitalTax Platform over the last
Homes Flying Off Market at Record Pace—46% Accept an Offer Within 2 Weeks
Key takeaways for the 4-week period ending August 2: A record-high share of homes are selling fast: 46% of homes sold within the first two weeks on the market, the highest level since at least 2012 (as far back as
6 Unique Cabins for Sale Across the U.S.
If you’re thinking about leaving the hustle and bustle of the city for more peace and privacy, or just for a more affordable mortgage payment, then a cabin home might be just what you’re looking for. From traditional log cabins
The Ultimate Final Walk-Through Checklist Before Closing on a Home
You’ve nearly gone through the entire homebuying process. From those early days of using a mortgage calculator to see how much house you could afford, to touring homes online or in-person, and then finally and excitedly making an offer on
Bidding Wars Hold Steady in July, With Over Half of Redfin Offers Encountering Competition
54% of Redfin offers faced bidding wars last month amid record-low mortgage rates and an acute shortage of homes for sale. Salt Lake City was the most competitive market, with 75% of offers encountering competition. More than half of Redfin
Austin Real Estate Market & Investment Overview 2020
We will discuss the latest Austin real estate market trends & prices and find out how they can affect the investors and homebuyers in the latter half of 2020. Austin housing market has been impacted by the pandemic which led to a
Getting Back to Work Safely
As many states move to reopen businesses affected during COVID-19, it’s essential that building owners, managers and tenants follow safety guidelines to keep employees and customers safe. The best way to do this is to review safety resources from the
Sell Your House Fast: 7 People You Need on Your Team
So, you’ve decided to sell your home. Congratulations! Before you start playing with a mortgage calculator to see how much you can afford on your next home, you’ll want to know how to sell your current home fast. Ideally, you’re
Intercontinental Exchange to acquire Ellie Mae from Thoma Bravo for $11 billion
Ellie Mae announced Thursday it entered a definitive agreement to be acquired by Intercontinental Exchange for approximately $11 billion. The move comes 15 months after Thoma Bravo, a private equity investment firm, announced it would acquire Ellie Mae in an
The rapid adoption of digital closings during COVID-19 shows what’s possible in the mortgage industry
We sat down with Nancy Alley, vice president of strategic planning at Simplifile and one of HousingWire’s 2020 Women of Influence, to talk about the rapid changes in the closing process as a result of the pandemic. Will this end
CEO of UWM hit with emergency order after more than 50 workers get COVID-19
The Oakland County Health Division in Michigan sent an emergency order to Mat Ishbia, CEO of United Wholesale Mortgage and United Shore Financial Services, saying employees weren’t wearing masks at work, contributing to the spread of the coronavirus. The emergency
Rocket Companies’ public debut underwhelms but execs insist they are ‘in it for the long haul’
Rocket Companies, parent company of Quicken Loans, underwhelmed in its public debut on Thursday. But executives remain optimistic with an eye toward the future, according to a HousingWire interview with COO Bob Walters. On Wednesday, we reported that Rocket Companies