As anticipation builds around potential changes to the LO comp rule, some industry stakeholders have started to chime in with their visions of what form the regulation should take. The Community Home Lenders of America, specifically, is the first to publish a blueprint of what changes should be implemented to the Loan Originator Compensation Requirements. […]
CHLA floats rewrite of LO comp rule Read More »
The Department of Housing and Urban Development is weighing a number of changes to its manufactured housing program as it looks to it as a key solution to addressing the nation’s housing shortage quickly. Government officials, including the heads of Ginnie Mae and the Federal Housing Administration, outlined potential improvements under consideration, including updates to
HUD plans overhaul of its manufactured housing program Read More »
Guild Mortgage finalizing a deal to go private via a $1.3 billion acquisition by Bayview Asset Management piqued the attention of some recruiters. Inquiries to Guild’s originator talent are coming in, the firm’s originators and industry stakeholders claim. “I can confirm the phone is ringing off the hook with recruiters,” Geoff Black, originator at Guild,
Guild LOs bombarded by recruiters after $1.3B deal news Read More »
The Department of Housing and Urban Development announced plans to relocate from its longtime headquarters located in the nation’s capital to Alexandria, Virginia. Such a move had also been the subject of rumors since early in the second Trump administration, as its Department of Government Efficiency set out to target examples of what it classified
HUD announces move to new headquarters in Virginia Read More »
Bill Cosgrove, the CEO of Union Home Mortgage, is the latest mortgage industry player looking to move into sports team ownership. Cosgrove is listed as part of a group headed by another housing industry participant, Dream Finders Homes founder, president and CEO Patrick Zalupski looking to purchase the Tampa Bay Rays, the team confirmed to
Another mortgage exec aims to own a sports team Read More »
Rocket Mortgage unveiled a new equity-backed financing product aimed at giving homebuyers an advantage when vying for homes in competitive markets. The Detroit-based lender’s new bridge loan offers prospective buyers the opportunity to draw into their accrued equity to put down an offer on a new purchase while still living in their existing property. Borrowers
Rocket introduces buy-before-you-sell bridge financing Read More »
Mortgage modifications surged in the first quarter at the nation’s largest banks, reversing a yearlong decline, while foreclosure activity also saw a marked uptick, according to a new government report. The data suggests rising financial stress is hitting certain borrower segments, even as conditions for the mortgage market overall appear relatively strong, based on numbers
Banking giants see surge in loan modifications Read More »
Department of Housing and Urban Development Secretary Scott Turner reiterated his focus on increasing housing supply and streamlining operations at the federal agency. “Making housing more affordable and increasing the supply of housing in our country…is a top priority of mine,” Turner said at a luncheon hosted by the Exchequer Club and Women in Housing
HUD Secretary Turner says manufactured housing key to supply Read More »
The outcome of previously-reported talks between Guild Mortgage and Bayview, a quiet servicing giant and asset manager, is a finalized acquisition valued at $1.3 billion that will transform the lender. In line with previous talks, a Bayview fund will buy outstanding shares of Guild it didn’t already own. The publicly-traded lender plans to go private
Guild, Bayview talks result in deal valued at $1.3 billion Read More »
The Redfin investor who sued the real estate brokerage and Rocket Companies for allegedly failing to disclose key information about their merger is seeking a $450,000 award. Jason Morano, the plaintiff, argues in a filing dated June 11 that his “intense litigation efforts” forced Redfin’s and Rocket’s hand in publishing supplemental disclosures that had a
Redfin investor seeks $450k for “benefitting” stockholders Read More »