Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) should potentially do something about it, an influential mortgage trade group argued this week.In a letter submitted to FHA commissioner Julia Gordon an

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse

More people seem to be aware of the potential utility that a reverse mortgage could provide for older homeowners, including as a tool to age in place and to provide greater cash flow in retirement. This is according to survey results published this week by WSFS Mortgage, a division of WSFS Bank.“[M]

U.S. Sen. Josh Hawley (R-Mo.) has sent a letter to the U.S. Department of Justice‘s Antitrust Division, urging an investigation of Fair Isaac Corp. (FICO), the company that retains the rights to the mortgage market’s adopted methodology to measure consumer credit risk.The letter, dated March 12 and

Today’s existing home sales report was a massive beat, similar to what happened last year in this month. Will this mark the high point for sales this year like it did in 2023? Unless mortgage rates go lower, that’s what we should expect, because that’s what happened last year. When mortgage rates he

Despite much of the political oxygen in Washington regarding housing issues being taken up by President Joe Biden and the White House, Republicans got their first major opportunity to offer an alternative vision for solving the nation’s housing problems.In a U.S. House of Representatives Subcommitte

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday.Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.

Rocket Mortgage president Tim ​​Birkmeier is retiring after a nearly 28-year stint at the Michigan-headquartered lender. “It is with great pride that I publicly announce my retirement from Rocket Companies and the mortgage industry,” Birkmeier wrote in a LinkedIn post on Thursday. “It was absolutely

HousingWire Editor in Chief Sarah Wheeler sat down with Shayan Hamidi, CEO of Rechat, to talk about how he picks the right problems to solve, the incredible pace of AI innovation, and finding the joy in work. Sarah Wheeler: Let’s talk about your background, because you have both technology and real

While the news of the National Association of Realtors’ settlement agreement in the commission lawsuits may have created panic at some brokerages, local Realtor associations and Multiple Listing Services (MLSs) said they were not only anticipating the news but were prepared for it.“We’ve been scenar

Realty ONE Group International, a global real estate franchise, recently promoted five women to drive the company’s global growth. Cory Vasquez was promoted to the position of co-president, alongside Vinnie Tracey, who has been the company’s president since 2017. Before this promotion, Vasquez serve

One of the major takeaways from Federal Reserve Chair Jerome Powell’s Wednesday news conference was that officials still expect interest rates to come down three times this year, indicating that recent higher-than-expected inflation numbers haven’t been enough to derail previous forecasts. As widely

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s reverse division to transition back into a role as a reverse mortgage broker. He joined C2 Financial’s reverse division in a move that he says helped to return him to his “roots.”RMD caught

Although the National Association of Realtors (NAR) is grateful for the White House’s focus on the nation’s affordable housing crisis, the trade group was not thrilled about remarks President Joe Biden made about real estate agent commissions.In a speech given at Stupak Community Center in Las Vegas

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement.The organization recognized LoanPASS for its loan pricing software, which can map out forward

Last week, the National Association of Realtors (NAR) announced a settlement agreement in the Sitzer Burnett case that would take effect in July. For those who missed the declarations that this outcome will render transacting real estate almost free, protect consumers and make homeownership affordab

About 65 mortgage professionals have not transitioned from AmCap Home Loans to its acquirer, CrossCountry Mortgage (CCM), and rival New American Funding (NAF) has hired the AmCap personnel to expand its business in Texas, the lender announced last week.Industry veteran Tom Boyd became a divisional e

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. While all types of brokerage models see different levels of success in the current real estate environme

The Federal Reserve’s Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% for a fifth straight meeting on Wednesday.“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence th