Federal Reserve Chair Jerome Powell reiterated Wednesday that the central bank won’t be applying any cuts to benchmark interest rates until it’s sure that inflation is under control. In his prepared testimony to the House Financial Services Committee, Powell hinted at rate cuts “at some point this y

California-based mortgage lender CMG Financial will partner with fintech Sagent for seven years as it brings its servicing business in-house. CMG Financial is “doubling down on controlling lifetime customer experience,” and the seven-year deal with Sagent is in line with the lender’s effort to prior

Fannie Mae announced on Wednesday an enhancement to its desktop underwriting system, which will facilitate the asset, income, and employment verification process through a single data source. Lenders can use a single 12-month asset verification report to identify recurring deposits in the applicant’

John Abraham, former top-producing mortgage loan officer at Caliber Home Loans/NewRez, has joined The Money Store. His team will be making the move with him. Abraham was named vice president and producing branch manager in Illinois, where he will serve as sales leader and mortgage originator.“The Mo

U.S. home price gains reached their highest rate in a year in January, according to CoreLogic’s Home Price Index (HPI). But the data provider forecasts yearly growth to begin slowing in the coming months and fall to 2.6% by early 2025.U.S. annual home price growth rose by 5.8% in January 2024. On a

LenderLogix, a provider of white-label mortgage software, has integrated with AccountChek, a digital verification service for assets, income and employment, the companies announced on Tuesday.This integration merges AccountChek’s income verification system directly into the LenderLogix point-of-sale

The U.S. Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country.There are three core provisions of the plan. They include the reallocation of funds originally earmarked for relief from the economic impacts

Housing affordability is at its lowest level in more than  a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qu

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market.Keep in mind that almost all HECMs are a

The Carrington Companies tapped Andrew Taffet as its new CEO. Taffet, who is currently serving as Carrington’s chief investment officer, will continue in that role while succeeding company founder Bruce Rose. Rose will assume the role of executive committee chairman for the Carrington Companies. Taf

New data illustrates a discrepancy between the perception of baby boomers who lose money to financial scams and the actual rate of seniors to fall prey to such bad actors.This is according to the results of a survey conducted by market research firm Ipsos and HomeEquity Bank — Canada’s leading rever

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights (MSR) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. At the same time one ye

The legendary billionaire CEO of Berkshire Hathaway, Warren Buffett, has found himself at the center of one of the nation’s largest real estate commission lawsuits.In an amended complaint filed on Monday, the plaintiffs in the Gibson commission lawsuit, which was filed in early November in Missouri

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as

Add mortgage tech firm Guideline Buddy to the list of companies with an artificial intelligence-powered chat tool.Guideline Buddy’s chatbot leverages generative AI technology to simplify the loan qualification process by providing swift and accurate information, freeing professionals from the time-c

Three Bayview Asset Management-owned mortgage servicers are seeking to halt a plaintiff’s filing in a data breach lawsuit, citing an overabundance of confidential information shared about the incident, National Mortgage News first reported. The objection, filed on Feb. 28 in federal court, represent

In our dedication to providing the full picture to housing professionals across the U.S. housing market, HousingWire has partnered with Illinois Realtors, bringing exclusive news, market data and housing research to the 50,000 Illinois Realtors that power the state’s real estate market. Illinois Rea

In many respects, 2023 was the year of the homebuilder. The persistent scarcity of existing homes drove buyers toward newly built properties, allowing builders to maintain double-digit margins. New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual