Only 15 percent of U.S. adults believe the nation will be able to adequately care for its aging population, and nearly three-quarters (73%) of adults under the age of 65 are concerned that the Medicare program may not exist by the time they are able to qualify for it. This is according to survey res

Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. And that’s not expected to change anytime soon.“There’s one question every CEO, CTO, CIO, loan officer, processor, underwrit

The U.S. Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).The Manufactured Home Community lo

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac, but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings.The volume of loa

Mortgage demand keeps on falling. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday.On an unadjusted basis, the MBA’s market composite index de

To gain a competitive advantage in the mortgage space, it often demands access to expertise and capabilities that provide options, confidence, expansion opportunities and an ability to create efficiencies across time, resources and cost. A designation as an approved Seller/Servicer with Freddie Mac

More executive changes are afoot at franchise real estate brokerage RE/MAX. Serene Smith, the chief of staff and chief operating officer at RE/MAX Holdings, has transitioned to a non-executive, part-time role at the brokerage. RE/MAX will no longer have a principal operating officer and Smith’s resp

NAF Cash, a subsidiary of multichannel mortgage lender New American Funding (NAF), announced on Tuesday the availability of a tool called NAF Cash Maps that aims to offer data on trends related to all-cash home purchases.“The data is derived from information collected by real estate data provider MM

Building on momentum seen in April, reverse mortgage volume and securities issuance each posted gains in May, with a caveat in place about the runway ahead from case number assignments in April.Home Equity Conversion Mortgage (HECM) endorsements increased by 16.9% to 2,460, while HECM case numbers r

With flood insurance premiums commanding ever-higher prices, a U.S. senator recently described a hardship faced by a constituent who endured challenges with higher flood insurance costs while keeping a reverse mortgage in good standing.The Federal Emergency Management Agency (FEMA) implemented a new

Seller impersonation fraud has reportedly risen significantly over the years, and one such fraudster attempted to cash in by facilitating a fraudulent sale of Graceland, the famous Memphis, Tennessee, home owned by the late Elvis Presley.But while a fraud attempt targeting such a famous structure an

Hometown Lenders has filed for Chapter 11 bankruptcy protection in Alabama, blaming the Federal Reserve’s policy to curb inflation for its debacle. In court filings, the Huntsville, Alabama-based company stated that as of April 30, 2023, it owed approximately $107.1 million to taxing authorities, fo

Shopping around for a mortgage could prove beneficial for borrowers looking to save money, particularly in a high interest rate environment, according to a new report from LendingTree.The potential savings breaks down to roughly $212 a month, or $2,547 per year on average, according to the report. B

Even after dropping considerably over the past month, mortgage rates remain well above 7% ahead of the next U.S. jobs report and the next meeting of Federal Reserve policymakers.Mortgage rates were nearly flat on a weekly basis as HousingWire’s Mortgage Rates Center showed that the average 30-year r

On an enforcement streak since the U.S. Supreme Court rejected a challenge to its funding mechanism in mid-May, the Consumer Financial Protection Bureau (CFPB) is now targeting the use of what it deemed ”unlawful or unenforceable” terms and conditions in contracts.On Tuesday, the U.S. consumer finan

Realoq, a real estate portal with a “multi-sided marketplace“ that connects consumers and service providers, has expanded its services to Florida, Georgia and North Carolina.“Unlike industry stalwarts, Realoq’s free-to-use service offers a hand-picked and custom-vetted pool of local agents to provid

A study commissioned by the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period.Released late last year, the study examined three core ele

As the U.S. and much of the world will have to reckon with a population that is growing older at a faster rate, governments are determining the best courses of action to deliver on age-related initiatives. To that end, the U.S. Department of Health and Human Services (HHS) has delivered a strategic

The Consumer Financial Protection Bureau (CFPB) is creating a public database to identify nonbank financial companies that violate consumer laws, aiming to avoid recidivism trends.  On Monday, the U.S. consumer financial watchdog announced that it finalized a rule establishing the new registry. It r

Mortgage rates decided to bounce back into the 7s this week. We can see an impact in that immediately as home sales are slowing down. These are the homes that go into contract immediately after listing. We also see new pending sales slowing and price reductions ticking up.The most notable thing in t