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
New American Funding, no longer in growth mode, lays off 240
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
What is Pet Liability Insurance for Renters
As of 2022, it’s estimated that about 67% of Americans own a pet. If you’re one of those 67%, you may have heard of pet liability insurance, pet insurance, pet renters insurance, and renters insurance with pet coverage. But what
Home buyers’ and sellers’ biggest misconceptions in a shifting market
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The honey badger labor market will still bite housing
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
Share of Black first-time homebuyers falls to 3%
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
HW+ Member Spotlight: Aaron Smith
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
Opinion: The risk in cutting FHA insurance premiums
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
6 Essential Tips to Consider When Choosing a Roommate
Whether you’re renting an apartment in Baltimore or saving for your first house in Tacoma, WA, sharing a house or apartment with roommates is a great way to mitigate living costs. However, choosing the wrong roommates can make you question
Mr. Cooper makes its biggest job cut yet
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 reports financial loss as production slumps in Q3
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%
Must-Try Coffee Shops in Los Angeles: A Local’s Guide to Coffee Shops and Cafes
If you’re looking for the best coffee shops in Los Angeles, you’ve come to the right place. Whether you’re looking for a great cup of coffee within walking distance from your Los Angeles apartment, a cozy place to work or
Job growth continues but decelerates in October
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.
25 Living Room Organization Ideas for Every Home
If your living room is cluttered and chaotic, it can be tough to relax and spend time with your family or entertain guests. Your living room can become even more challenging to use if you have a large family or
UWM takes the originations crown from Rocket
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
Lenders convince buyers to ‘marry the house and date the rate’
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
What is a Corporate Apartment? Short-Term Housing with All the Amenities
The first thing that probably pops into your mind when you hear the word “corporate housing” is a businessperson decked out in their professional suit, briefcase in one hand and a plain black suitcase in the other, obviously on a
FoA Mortgage’s shutdown brightens the prospects of a small Indiana lender
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
Can You Airbnb an Apartment You Rent?
Offering your apartment (or a room in your apartment) as a short-term rental on a platform like Airbnb or VRBO could be a great way to make some extra cash. While most people assume they have to own property before
How to Winterize a House: 10 Steps for Preparing Your Home for Winter
Winter is approaching, and that means cold days, dark evenings, snow flurries, and staying cozy in your home. But the winter months can wreak havoc on your house. Gusting winds can batter your beautiful plants. A snow or winter ice
Unlawful Detainers and What You Should Know About Them as a Tenant
Something no renter wants to receive is an unlawful detainer. An unlawful detainer is a lawsuit to evict a tenant and they vary greatly from state to state. Whether you’re a landlord, property manager, or tenant, dealing with unlawful detainers
Will the Phoenix Housing Market Crash in 2022?
The Phoenix housing market has been on fire, driven by strong economic growth, pandemic-fueled demand, and a surge in investment activity that far surpasses the levels during the last housing boom. Once considered to be ground zero of the housing
What Are Closing Costs and How Much Will You Pay?
If you’re a first-time homebuyer, it’s easy to get caught up in the excitement of making plans for your new space. Even as you dream about color schemes, furniture placement, and the ideal layout of your new home, you’re probably
Is the Housing Market Going to Crash in 2022?
Housing Market Trends 2022 The housing market is predicted to slow down further in the last quarter of 2022. For sellers, this could be terrible news, but for buyers, it’s great. Yet, there is still the problem of sky-high mortgage