Camila Silva is highly organized and detail-oriented, especially when it comes to paying her bills on time — including the mortgage on her townhouse in the quiet outskirts of Washington D.C. Car, utility and mortgage payments are all color-coded in the calendar on Silva’s phone. Since the origination of her home loan in 2021, Silva […]
Loan onboarding challenges reveal servicing pain points Read More »
John Bell III, the former executive director for loan guaranty service at the Department of Veterans Affairs, has died. His passing was noted in a Facebook post by Rick Bettencourt, president of Veterans Mortgage Brokers, Danvers, Massachusetts. “For the last 10 years John has been a Titan in the VA home loan world,” Bettencourt, who
John Bell III, former VA mortgage program executive, dies Read More »
Newrez posted a fourth straight quarterly profit, as parent company Rithm Capital pointed to a new servicing deal with Wells Fargo and falling interest rates as drivers of recent momentum. Technology, particularly investments in artificial intelligence, also paid dividends that drove profits for Newrez, said the lender’s President Baron Silverstein. “Even with increased production, our
Newrez posts fourth straight quarterly profit Read More »
Mortgage rates declined for the fourth consecutive week on the back of the Federal Reserve’s second rate cut of the year. The 30-year fixed-rate mortgage averaged 6.17%, just a 0.2-percentage-point drop from last week‘s 6.19%, according to Freddie Mac’s Primary Mortgage Market survey. The 30-year rate was 6.72% a year ago. “The last few months
Mortgage rates tick down following Fed’s cut Read More »
After hurricanes in Florida, floods in Texas and wildfires in California plagued the United States this year, homeownership worries Americans, a survey released Wednesday showed. More than two-thirds of Americans believe homeownership is riskier now than it was 10 years ago due to climate change and natural disasters, according to a survey conducted by Clever
Climate change increasingly worries potential homebuyers Read More »
Freddie Mac, like larger counterpart Fannie Mae, reported another profitable quarter that could fuel more interest in a potential new public offering for some of their shares. The government-sponsored enterprise earned $2.8 billion in net income during the quarter, compared to $2.39 billion the previous fiscal period and $3.11 billion a year earlier. The pattern in
Credit provision shifts drive Freddie Mac’s earnings Read More »
Today was not a foregone conclusion and there was no way to know ahead of time that it would end like this, but the outcome is exactly why we’ve gone to such lengths to warn you about the potentially paradoxical reaction to a Fed rate cut. Too many people repeat the fallacy that mortgage rates
Yet Again, Mortgage Rates Surge Higher After Fed Rate Cut Read More »
Key Insight: The October Federal Open Market Committee cut interest rates by 25 basis points as expected, but comments from Chair Jerome Powell caught market watchers off guard, casting doubt on the likelihood of another rate cut in December. Expert Quote: “There were strongly differing views about how to proceed in December. A further reduction
Fed’s rate cut trajectory unclear as dueling dissents emerge Read More »
Florida and California, two states hit hard by natural disasters, lead the nation in non-renewal rates of homeowners insurance policies last year, a Weiss Ratings study found. Weiss looked at National Association of Insurance Commissioners data for 2024 and also did a comparison with 2018 in 15 disaster-prone states. Which states had the highest share
Home insurers drop California, Florida policies at high rate Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. A coalition of real estate and banking groups, including the Community Home Lenders of America, the Independent Community Bankers of America, and the National Association of Realtors, wants Fannie Mae and Freddie Mac to buy conventional mortgage-backed securities to help the mortgage
Reviving GSE MBS purchases would repeat the Fed’s mistake Read More »