In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages (HECMs) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. Some of those advantages improve over time, like the organic line-of-credit growth. So, would it make sense to

In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. But if prior suppositions about this trend being overblown failed to convince people, new dat

Rocket Companies, the parent of Rocket Mortgage, has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform.Rocket aims to double its current market share in purchase mortgages from 4% to 8% and

Michael Barr, the Federal Reserve‘s vice chair for supervision, on Tuesday spoke at the Brookings Institution in Washington, D.C., about the 2023 Basel III Endgame proposal, which would modify risk-based capital requirements for large banks.Following an extensive review process that included stakeho

HousingWire asked past Tech Trendsetter honorees about the biggest tech transformations they’ve witnessed and where companies in mortgage and real estate should focus their energy in 2024. Their unanimous answer: artificial intelligence (AI) is revolutionizing how the industry works, from boosting p

The U.S. Department of Housing and Urban Development (HUD) this week established Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for the Low-Income Housing Tax Credit program in 2025. These parameters are set by HUD for specific locations within each state and can impact the am

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. And Rohit Chopra, the hard-charging director of the Consumer Financial Protection Bureau, who is often the target of such co

Last week, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage.” The brand includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.After acquiring the robust reverse mor

Better Home & Finance Holding Co., the parent of digital lender Better.com, rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday.The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment, r

The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to balance the time frame and processes of loss mitigation in its revisions to Regulation X proposed in July.The proposals require mortgag

Presale renovation firm Revive has made its artificial intelligence-powered property valuation tool available to everyone, according to an announcement on Thursday.Previously, the Revive Vision AI platform was only available to registered real estate agents.“Making Revive Vision AI available to anyo

While inventory of unsold homes in the housing market in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listi

Miami stands as one of the most dynamic and valuable real estate markets in the United States. While not yet reaching the trillion-dollar mark, Miami‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to

Homeowners insurance costs are higher now than they have typically been, which has the potential to hit those living on a fixed income particularly hard. This could be one reason why a local NBC-TV affiliate in New Orleans is reporting that more of the community’s seniors are turning to reverse mort

Publicly traded real estate software firm reAlpha Tech Corp. added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday.reAlpha agreed to pay Be My Neighbor an aggregate purchase price of up to $6 million. This consists of $1.5 million in cash paid on

Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices, even in places you might not expect. This is according to an article published by the F

Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even lower? The answer is yes, but we will need more economic weakness, better spreads and a more dovish Fed. While the Fed can be old and slow, the bond

In 2022, I argued that the Federal Reserve won’t pivot until the labor market breaks. This means that the Fed will need to create such a slowdown in the labor market that nobody will question their action when they pivot. This is what I call the “cover cuts”  policy. After today’s jobs report and th

Compass’s loss is Coldwell Banker Realty’s gain.The Boston-based Bell Petrini Group has affiliated with Coldwell Banker’s Back Bay office. The group is led by Katherine Bell and Maddy Petrini, who are bringing three team members with them. The group was previously affiliated with Compass.The Bell Pe

Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market.Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan