Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Traditionally at this time of year purchase apps rise and the number of price cuts fall. However, at the current trend, we will break below the lows in the price cut percentage data

Just ahead of a deadline to avert a partial U.S. government shutdown, lawmakers in the U.S. House of Representatives and the U.S. Senate unveiled the “Tax Relief for American Families and Workers Act of 2024.” The proposal would increase the Low-Income Housing Tax Credit, which housing groups say co

Country Club Mortgage, a home lender based in California, has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. “This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb. 6, 2024,” Sherry

Despite a documented preference that older Americans have to age in place, the current housing inventory is inadequate to support the needs of an aging population. This is according to a report from MarketWatch in collaboration with Columbia University’s Age Boom Academy.Homes in which people raise

Nonbank mortgage lender and servicer loanDepot has started to restore functionality to some of its technology systems impacted by an early January cyberattack. However, its operations remain impacted as it continues to investigate the incident.On Jan. 18, the company began to restore several impacte

Tennessee-based community bank Patriot Bank agreed to pay $1.9 million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority-Black

Today, we saw existing home sales slip a bit month to month, which isn’t surprising to me as purchase application data started its positive run in November. That data line typically looks out 30-90 days for sales — it doesn’t move as fast as some people think. Since making some holiday adjustments,

Real estate professionals in California are facing yet another commission lawsuit. Filed on Thursday in U.S. District Court in Sacramento by Willsim Latham, LLC., the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions.The lawsui

No set path exists for any professional to enter the reverse mortgage industry. People often find themselves in the business from various other professions. It’s the case for Finance of America Companies  (FOA) Chief Marketing Officer Chris Moschner.Arriving at FOA following its acquisition of Ameri

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Following years of volatility in mortgage rates, the housing marke

The rash of recent mortgage and title industry data breaches serves as a sobering reminder of the paramount importance of cybersecurity. In this first installment of our reducing cyber risk series, let’s explore a crucial facet of cybersecurity: bolstering resilience in your critical systems and ser

Japanese homebuilder Sekisui House, Ltd. has struck a deal to acquire its U.S.-based peer M.D.C. Holdings, Inc. in an all-cash transaction that values the target at $4.9 billion, the companies announced Thursday. The acquisition turns Sekisui into the fifth largest homebuilder in the U.S as it expan

Closing software provider Qualia is accusing a former employee and startup title production software firm Settlor of stealing trade secrets.In a lawsuit filed on Tuesday in U.S. District Court in Denver, Qualia claims that its former senior manager of product at Resware Krista Myers, who is now a pr

The city of Laguna Beach, Calif. recently offered details of its city-sponsored aging-in-place program, dubbed “Lifelong Laguna,” in a profile published by CNBC. It provides new insight into the measures cities can explore to more easily facilitate aging-in-place goals for older residents.2021 resea

Wire and title fraud risk reached an all all-time high in Q4 2023 with 51.8% of transactions having issues that led to a risk of wire and title fraud, according to FundingShield‘s quarterly report.On average, problematic loans had 2.2 issues per loan indicating the lack of appropriate controls by cl

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) produc

Dark Matter Technologies, formerly Black Knight Origination Technologies, is gearing up to bring more lenders on to use its Empower loan origination system in 2024.The firm is primarily focused on creating an application programming interface (API) marketplace where Dark Matter Technologies can coll

Lights, camera, lawsuit! A copycat commission lawsuit has been filed in Los Angeles.The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. It was filed on Wednesd

HousingWire Editor in Chief Sarah Wheeler sat down with Jim Butler, chief technology officer at Stavvy, to talk about moving real estate from paper to a digital transaction, how the company is using AI, and the vibe you get working with industry experts. Previously, Butler served as CTO of HqO, an e

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% as of Jan. 11, a decrease from last week’s 6.66%, according to Freddie Mac‘s