loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. It wasn’t enough to bring the California-based lender company profitability, but it narrowed its losses. Operationally, loanDepot entered 2024 by dealing with a cyberattack that brought its system

San Diego-based lender Guild Mortgage lost money in 2023 but grew its market share through a focus on purchase mortgage originations, it reported in an earnings call on Tuesday.Similar to other major lenders, the purchase-focused Guild — which operates via a distributed retail model — reported a net

The White House this week submitted its fiscal year 2025 budget proposal to the House of Representatives and the Senate, outlining the priorities of the administration in providing a budgetary blueprint for the entirety of the U.S. federal government.Within the congressional justifications for the U

PureWest Christie’s International Real Estate, a Montana-based real estate brokerage, is expanding into northern Idaho, the firm announced on Tuesday. The brokerage, which is a longtime affiliate of Christie’s International Real Estate, is the largest independently owned brokerage in Montana. PureWe

The housing priorities outlined by the White House and President Joe Biden last week before and during the State of the Union address are crucial for alleviating a serious burden facing many Americans, and the plan emphasizes actions that can be taken to impact the current housing market.This is acc

The largest U.S. nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday.Fitch expects additional consolidation in the industry as

If a couple decides to dissolve their marriage, something that is often described as a “third character” in the proceedings is the couples’ home. Finding a way to divide a home can be financially and emotionally fraught. And it often takes on more significance than other items due to the home typica

In anticipation of Tuesday’s inflation reading, mortgage rates eased compared to last week.HousingWire’s Mortgage Rate Center showed the average 30-year fixed rate for conventional loans at 7.08% on Tuesday, down from 7.17% one week earlier. At the same time one year ago, the 30-year fixed rate aver

A little over a month after formally relaunching homebuyer refunds under its Sign & Save program, Redfin announced that Sign & Save is now available to clients nationwide.In an announcement on Tuesday, the brokerage noted that it had expanded the program to more than a dozen additional markets, incl

I have been in the mortgage industry for more than two decades and have been working with reverse mortgages for about 12 of those years. Working in this space for so long, I thought I knew the ins and outs of a reverse mortgage, but it wasn’t until I experienced one firsthand that some things really

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The suspicion was that there were a bunch of sellers who were waiting to sell:

Broker Kathy Kaye and agent Lorraine Baker joined Coldwell Banker Warburg, a New York City-based real estate brokerage, the company announced last week.Before joining Coldwell Banker, Kaye was affiliated with Compass for about five years, while Baker came from Douglas Elliman, where she worked for t

Keller Williams announced major changes to its C-Suite on Monday. Marc King has stepped down as the president of Keller Williams, effective immediately. Mark Willis who was named CEO of Keller Williams in November, is now also serving as the firm’s president. According to the annoucment, King, who h

Members of the reverse mortgage industry were surprised to learn that U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge announced on Monday that she would be resigning from her post effective March 22. HUD deputy secretary Adrianne Todman will serve as acting HUD secretar

Oregon lawmakers last week approved a landmark $370 million housing package, The Associated Press reported. The vote followed an intense 35-day legislative session. Introduced by Democratic Gov. Tina Kotek, the bill aims to invigorate home construction in the state. Central to the bill is a revision

Remote online notarization (RON) platform NotaryCam expanded its independent notary platform customer base by 46% in 2023, according to an announcement on Monday.The company is a wholly owned subsidiary of title firm Stewart.In addition to expanding its notary platform customer base, NotaryCam also

President Joe Biden’s proposals for the housing and mortgage markets, announced during the 2024 State of the Union address on Thursday night, are “dead on arrival or troubling,” according to Isaac Boltansky, an analyst for financial services firm BTIG.  Some of the proposals, which include tax incen

Marcia Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development (HUD), announced her resignation from office, according to an announcement released on Monday by HUD. Her last day will be March 22. Adrianne Todman, the current Deputy Secretary and HUD veteran, was named Actin

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders.Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender prof

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? If so, what will this do to inventory levels? Let’s look at this week’s tracker data to get clues for the future.Mortgage ra