As the reverse mortgage industry prepares to say goodbye to the tumultuous year that is 2024, positive news for the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program — which... Read more »
The likelihood of a third Federal Reserve rate cut got higher with Wednesday’s Consumer Price Index from the U.S. Bureau of Labor Statistics, which met expectations from economists on inflation. Headline inflation... Read more »
Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. And the soaring costs will hit as lenders try to dig out from multiple... Read more »
The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing... Read more »
The U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) released a new report detailing what it says are the top management challenges for the department in... Read more »
Labor over Inflation has been the theme for mortgage rates to go lower in 2024, with the understanding that as soon as the labor market softens, the 10-year yield should head lower,... Read more »
The Federal Reserve’s 50 basis-point interest rate cut in September is already making an impact on housing markets across the country. But high mortgage rates and affordability challenges put a damper on... Read more »
NAR Chief Economist Lawrence Yun issued the following statement on today’s jobs report data: “Mortgage rates are plunging on the news of weak job growth and rising unemployment. The 4.3% unemployment rate... Read more »
In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. The wholesale lender said it’s offering legal support to... Read more »
The Consumer Financial Protection Bureau (CFPB) on Friday issued a report indicating that it is taking a closer look at the impact of “discount points” on mortgage transactions, noting that use of... Read more »