The average credit card user carries a balance of nearly $6,000, as Americans hold more debt than ever, a new industry report found. Processing Content Americans bear a record $1.21 trillion in credit card debt, as the median interest rate hit 25.3%, according to Academy Bank’s latest white paper. The trend could affect home loan […]
Card debt hits record amount as providers charge high rates Read More »
President Trump’s plan to restrict institutional investor purchases of single-family homes through bipartisan legislation to promote consumer access to affordable housing does match a past goal pursued by Democrats but has many practical challenges, industry professionals said Thursday. Processing Content “Trying to crack this nut of the affordability issues that we have in this country
How Trump’s institutional investor homebuying ban could impact loans Read More »
The Department of Housing and Urban Development will be selling thousands more reverse mortgages that have been called due-and-payable on occupied homes, continuing a practice that began late last year. Processing Content More than 2,500 nonvacant loans with a total principal balance around $730 million are going up for sale on Feb. 10. Until recently, department’s
FHA reverse mortgage properties go up for sale Read More »
California Governor Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes. Processing Content Wells Fargo, JPMorgan Chase, U.S. Bancorp and Citigroup will streamline requests for an additional 90-day forbearance period, allowing borrowers to
Large banks extend mortgage relief for LA wildfire victims Read More »
Chris Marshall, the former Mr. Cooper executive who was serving as Sagent’s chairman, has added the CEO title at the mortgage servicing technology company. Processing Content Geno Paluso, who had taken the CEO job after Marshall first became chairman, will become vice chairman and serve as a senior advisor during a transition period, a press
Chris Marshall adds CEO title to chairman role at Sagent Read More »
The effect of surging insurance costs over the past few years is raising alarms for many homeowners, with nearly half saying higher premiums are “seriously” influencing new purchase strategy. Processing Content Approximately 49% of homeowners said insurance costs factored in either “very heavily” or “seriously” behind purchase decisions, according to a recent survey from Kin.
Insurance costs ‘seriously’ influencing many home purchases Read More »
The Federal Home Loan Bank of Chicago increased the benefits offered through its Community Advance program for 2026, to support affordable housing and local development. Processing Content The additions include a $55 million total annual interest rate subsidy, allocated on a first-come, first-served basis, and an increase to the per-member outstanding Community Advanced limit from
FHLBank Chicago increases affordable housing program benefit Read More »
The nation’s private mortgage insurers are adequately capitalized to deal with the housing market’s challenges during 2026, so on balance they have a neutral outlook for next year, Fitch Ratings said. Processing Content “We expect strong borrower credit profiles, relatively stable employment levels, and persistent home price appreciation to help mitigate pressures from ongoing housing-affordability
MI, title firms positioned well for 2026’s challenges: Fitch Read More »
The Federal Housing Administration’s mortgage insurance fund capital ratios were largely stable this past federal fiscal year, its annual report, delayed by the government shutdown, showed. Processing Content The overall ratio for the Mutual Mortgage Insurance Fund matched the previous fiscal year’s 11.47%, far above its required statutory 2% minimum. The capital ratio for the
FHA records stable capital ratios amid softer performance Read More »
A new Nevada law set to go into effect will permit insurance providers to exclude wildfire damage in homeowners policies in 2026. Processing Content Legislation passed in the Silver State this spring means insurers receive explicit legal protection if they opt out of wildfire coverage for standard policies issued after Jan. 1. With the change,
New insurance law to change Nevada wildfire coverage in 2026 Read More »