Apply Online
Schedule a Call

Mortgage

Trump’s executive order unlikely to slow adoption of AI in real estate

Artificial Intelligence, Compliance, Cybersecurity, eXp Realty, HWmember, Mortgage, Real Estate, Regulatory, Technology, Trump administration /

President Donald Trump on Tuesday signed an executive order calling for creation of a voluntary review framework for the nation’s most advanced artificial intelligence (AI) models before public release. It also directs federal agencies to expand AI-powered cybersecurity programs and establish a new government-industry clearinghouse for software vulnerabilities. “Advanced AI capabilities make our Nation stronger, […]

Trump’s executive order unlikely to slow adoption of AI in real estate Read More »

Social Security, Medicare solvency could be examined by bipartisan commission

Baby Boomer, Congress, Gen X, HWmember, Legislation, Mortgage, Retirement, Reverse, Reverse Mortgage Daily, Social Security, Social Security Administration /

Legislation under consideration in Congress would create a bipartisan commission of experts tasked with developing long-term reform options for Social Security and Medicare. Rather than advancing immediate policy changes, the panel would study the financial outlook for the programs and submit recommendations for lawmakers to consider. The proposed Commission on Sustaining Medicare and Social Security

Social Security, Medicare solvency could be examined by bipartisan commission Read More »

FTC wins court order to shut down alleged mortgage relief scheme

California, Cares Act, Federal Trade Commission, HWmember, Lawsuit, Legal, Mortgage /

The Federal Trade Commission (FTC) on Wednesday announced that it secured a court order to shut down an alleged mortgage relief scheme. The regulator says the scheme referenced federal homeowner assistance programs to collect upfront fees from financially distressed borrowers while failing to deliver promised loan modifications. A judge for the U.S. District Court for

FTC wins court order to shut down alleged mortgage relief scheme Read More »

Onity approved to sell reverse MSRs to Finance of America

Finance of America, Ginnie Mae, HWmember, Mergers and Acquisitions, Mortgage, Mortgage Servicing, MSRs, Onity Group, Reverse, Reverse Mortgage Daily /

Onity Group Inc. won regulatory approval for a revised sale of most of its reverse mortgage servicing rights to Finance of America (FOA), the company said Tuesday. Under the new agreement, Onity will sell MSRs on about 20,000 Home Equity Conversion Mortgages (HECMs) with an unpaid principal balance of $5.1 billion as of March 31.

Onity approved to sell reverse MSRs to Finance of America Read More »

Mortgage rates at 6.71% as purchase demand holds up

Cotality, Federal Reserve, HWmember, Keefe, Bruyette & Woods, Mat Ishbia, Monetary policy, Mortgage, Mortgage Rates, Mortgage Rates Center /

Rates for 30-year conforming mortgages stayed above 6.7% this week, but housing market activity has been resilient as weekly pending sales and purchase loan demand are up slightly compared to this time last year. At HousingWire’s Mortgage Rates Center on Tuesday, 30-year conforming loan rates averaged 6.71%, while rates for 30-year jumbo loans averaged 6.73%

Mortgage rates at 6.71% as purchase demand holds up Read More »

Rocket expands on VantageScore 4.0 pilot for agency, VA loans

Credit Score, FHFA, FICO, HWmember, LendingLife, Mortgage, Origination, Rocket Companies, Rocket Mortgage, VantageScore /

Rocket Mortgage and Rocket Pro provided additional details this week on their rollout of VantageScore 4.0 in mortgage lending after officially announcing last week that they have started using VantageScore 4.0 alongside Classic FICO scores. Heather Lovier, chief operating officer of Rocket Companies, told HousingWire that VantageScore 4.0 can currently be used for Fannie Mae, Freddie Mac and

Rocket expands on VantageScore 4.0 pilot for agency, VA loans Read More »

Bank of America extends Community Homeownership Commitment program

Affordability, Bank of America, Homeownership, Housing Market, HWmember, Mortgage /

Bank of America said Thursday that it will continue its Community Homeownership Commitment program after surpassing its original goal of delivering $15 billion in affordable home loans and grants. The program, launched in 2019, has provided more than $15 billion in affordable home loans. This total includes more than $600 million in down payment and

Bank of America extends Community Homeownership Commitment program Read More »

Fair housing groups sue CFPB, Vought over ECOA fair lending rule

CFPB, Discrimination, disparate impact, Fair Lending, HWmember, Lawsuit, Legal, Mortgage, National Fair Housing Alliance, Politics, Trump administration /

A coalition of fair housing and economic advocacy groups sued the Consumer Financial Protection Bureau (CFPB) and acting director Russell Vought on Wednesday, seeking to block a Trump administration-backed rule they say would weaken longstanding protections against lending discrimination. The lawsuit, filed in federal court in Washington, D.C., challenges changes made last month by the

Fair housing groups sue CFPB, Vought over ECOA fair lending rule Read More »

Homebuyer affordability slips in April as median mortgage payment rises to $2,152

Affordability, Homebuyers, HWmember, Mortgage, Mortgage applications, Mortgage Bankers Association, Origination /

Homebuyer affordability declined in April as the national median payment applied for by purchase mortgage applicants rose to $2,152, up from $2,131 in March, according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI) released Thursday. The national PAPI rose 0.3% to a reading of 156.0 in April, up from 155.5 in March,

Homebuyer affordability slips in April as median mortgage payment rises to $2,152 Read More »

The wait continues: Two Harbors stalls on CCM merger approval

CrossCountry Mortgage, HWmember, Mergers and Acquisitions, Mortgage, Servicing, Two Harbors Investment Corp., United Wholesale Mortgage /

Two Harbors Investment Corp. has once again adjourned its special meeting of stockholders, giving the MSR-focused real estate investment trust more time to solicit votes for its proposed all-cash sale to an affiliate of CrossCountry Mortgage (CCM). Two Harbors and CCM entered into a definitive merger agreement on March 27. Negotiations with CCM produced two

The wait continues: Two Harbors stalls on CCM merger approval Read More »