Following a dramatic turn of events at the Federal Emergency Management Agency (FEMA) last week, the newly-installed acting leader acknowledged that the agency does not have a disaster response plan even though hurricane season is jus two weeks away. Former acting FEMA chief Cameron Hamilton initially raised eyebrows when he was chosen to lead the […]
FEMA isn’t prepared for hurricane season, acting director concedes Read More »
The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%. That’s a victory–albeit a small one–after hitting 6.99% on Wednesday. As always, these rates refer to an index representing broad industry averages for best-case scenarios. Individual lenders and scenarios
Mortgage Rates End Week Only Slightly Higher After Decent Recovery Read More »
The Consumer Financial Protection Bureau published a proposed rule in the Federal Register on Friday that could scale back some procedures added for mortgaged homeowners with hardships due to COVID-19. The temporary requirements added during the pandemic have largely sunset, and one aspect that has not is on track to be addressed by a planned
CFPB proposes end to pandemic servicing requirement Read More »
Rocktop Technologies’ purchase of Incenter Capital Advisors is both complementary to its current capabilities as well as a way for the company to differentiate itself. Terms of the deal, which was completed on May 15, were not disclosed. For now, Incenter Capital Advisors will retain its current branding. “We are very tech heavy, tech enabled,
Rocktop buys Incenter Capital, expecting robust MSR market Read More »
Two men will spend multiple years in federal prison for a scheme to buy a $1.3 million Virginia home. A federal judge this week sentenced Herman Estes Jr., of Fieldale, Virginia to 84 months in prison for the wire and tax fraud to purchase the Roanoke County home in March 2023. A co-conspirator, Daniel Heggins
Fraudsters get prison for $1.3M Virginia home scheme Read More »
The mortgage industry’s comeback after years of economic challenges sputtered, as diminished loan volume and increased production costs made lending unprofitable at nonbanks in the first quarter. Still, the industry managed to narrow losses compared to three months earlier but production ended up in the red again for a second straight quarter, according to the
Mortgage profits near break-even, but costs still climb Read More »
Freddie Mac wants lenders to pass on the cost savings to consumers from its latest enhancements to its Loan Product Advisor automated underwriting system. The company greenlighted what was described as an on-hold innovation to the system. The upgrades include the launch of a new feature, Freddie Mac Income Calculator. It is designed to help
Pulte wants Freddie AU savings passed on to consumers Read More »
Left to right: Michael Lima, Kim Schenck Addison, Texas-based Click n’ Close welcomed Kim Schenck as correspondent manager. In the role, she will be responsible for driving growth of the wholesale and correspondent lender’s down payment assistance program, drawing on her background in lending, loan acquisitions and secondary marketing. She joins the company, which was
MBA, Rithm, SWBC announce leadership moves Read More »
US housing starts increased in April as a pickup in multifamily home construction more than offset a decline in single-family dwellings caused by elevated inventory. New residential construction increased 1.6% to an annualized rate of 1.36 million homes, according to government data released Friday. That was in line with the median estimate in a Bloomberg
Housing starts increase on pickup in multifamily construction Read More »
AGENTS: Did you know you can share a personalized version of this post? Learn more! For Buyers, Infographics, Mortgage Rates, Buying Tips, Forecasts Some Highlights Are you wondering what to expect if you buy or sell a home in the second half of the year? Here’s what the expert forecasts tell you. Mortgage rates are
Housing Market Forecasts for the Second Half of 2025 Read More »
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