Fewer prospective mortgage borrowers pulled the trigger in June, according to a new report from Mortgage Capital Trading. Mortgage rate locks decreased 7.84% in June compared to the previous month. This drop follows a brief uptick in volume at the beginning of the traditional buying season, suggesti

A ransomware attack on Bay-area Patelco Credit Union caused almost half a million members to lose access to banking services, and the outage could last for weeks.The company shared news of the attack on June 29 via Twitter. The services knocked off line include online banking, the company’s mobile a

The Mortgage Bankers Association (MBA) this week detailed its reasons for opposing a bill in the state of Florida designed “to expand projects eligible for residential Property Assessed Clean Energy (PACE) financing,” which was recently signed into law by Gov. Ron DeSantis. Florida Senate Bill SB-77

With today’s jobs report and all the reports we got during this jobs week, can we finally say the Federal Reserve is winning its war against the labor market? I believe the Fed won’t pivot until the labor market breaks. That has been my position since 2022 and we are starting to see some early signs

Job creation slowed in June, despite continued tight labor market conditions, which economists say is good news for the Federal Reserve. Data from the U.S. Bureau of Labor Statistics released on Friday shows that total nonfarm payroll rose by 206,000 jobs in June, compared to 272,000 jobs in May.Job

As we celebrate Independence Day this year, it’s natural to reflect on the American Dream of homeownership. This dream, however, seems to be facing challenges. Fewer real estate transactions are occurring, and many are questioning why. Is it due to interest rate volatility, low consumer demand, or a

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing.The new translations — which are available i

Move Inc., the parent company of Realtor.com, is suing CoStar Group, the parent company of rival Homes.com, over the alleged theft of portal data and documents.In a complaint filed on Tuesday in U.S. District Court in California, Move alleges that James Kaminsky, a former employee who now works for

The New York Stock Exchange (NYSE) on Wednesday announced that the warrants of Finance of America, traded under the ticker symbol “FOA.WS,” will be delisted from the exchange. The class A common shares traded under the “FOA” ticker symbol, however, will continue to be traded.“Trading in the warrants

The Federal Housing Administration (FHA) this week announced that its FHA Connection (FHAC) portal — which provides FHA-approved lenders and business partners with secure online access to computer systems at the U.S. Department of Housing and Urban Development (HUD) — will be updated to accommodate

Toronto-based HomeEquity Bank (HEB), Canada’s leading reverse mortgage lender, announced that Katherine Dudtschak has assumed the role of CEO following the retirement of her predecessor, Steven Ranson.Ranson announced his retirement earlier this year, effective June 30. Dudtschak assumed the CEO res

Affordability in the housing market is as bad as it’s been in more than three decades — and relief isn’t coming this year.That’s the conclusion of First American’s Real House Price Index (RHPI) report for May, which shows a 9% year-over-year decline in affordability. The increase in the RHPI was dri

Today’s housing market suffers from affordability issues due to mortgage rates in the 7s and high home prices. People are quick to panic over any part of the housing market that looks stressed, fearing we’ll see 2008 levels of destruction all over again. But while home sales are trending at the lowe

The housing market in Bergen County, New Jersey, is far from immune to the ills that are plaguing housing markets throughout the country. High mortgage rates have locked homeowners into the significantly lower rates they got years ago. The result is a low level of inventory that’s pushing home price

Mortgage applications declined by 2.6% on a seasonally adjusted basis during the week ending June 28, according to data released Wednesday by the Mortgage Bankers Association (MBA). The trade group cited upward movement in mortgage rates as the key reason why. According to HousingWire’s Mortgage Rat

Christie’s International Real Estate Belgium is expanding its operation to Brussels, according to an announcement on Tuesday.The firm is already well established in Flanders, but the latest move expands its reach into the French-speaking southern region of the country.It is the brokerage’s 12th offi

Editor in Chief Sarah Wheeler sat down with Consumer Financial Protection Bureau Director Rohit Chopra for a podcast this week and the talk turned to technology and tech companies. This interview has been edited for length and clarity. Listen to the whole episode here.Sarah Wheeler: Let’s talk about

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments.Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,105, while HECM case numbers for May dropped 7.9% to 3,214. Th

The Consumer Financial Protection Bureau (CFPB) last month issued an enforcement order against former Home Equity Conversion Mortgage (HECM) servicing contractor NOVAD Management Consulting and subcontractor Sutherland Global for what the bureau called “illegal activities that harmed older homeowner

Amid the greenery of suburban Maryland, Legacy at Twin Rivers is an unassuming apartment building, with clean, modern design and a pleasant landscape that you might mistake for any new, market-rate rental property in the area. And that’s the point. At a time of skyrocketing housing costs, rising int