Delinquencies improved in January, highlighting the resiliency of U.S. mortgage holders. The national delinquency rate fell to 3.38% in January, down from 3.57% in December, according to the Intercontinental Exchange (ICE) First Look Mortgage Performance report. The rate remained flat on a year-over-year basis and was the lowest recorded since October. The rebound was anticipated […]
As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The Cleveland-based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies. The product […]
A suspected fraudster nearly brought financial ruin to an elderly resident of London, Ontario in Canada, but an area reverse mortgage professional’s quick thinking is credited with leading to the suspect’s arrest, according to a news release from the London Police Service. Stemming from suspected fraudulent activity beginning in the summer of 2021, 28-year old […]
When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit, few in the real estate industry were surprised by the agency’s desire to decouple commissions. In […]
The housing market in the state of Florida saw higher median home prices, more real estate listings and a higher number of active listings during the month of January, according to data released Thursday by Florida Realtors, a state-based trade organization for real estate professionals. The figures in each metric are higher compared to the […]
Fintech FundingShield will provide comprehensive title fraud solutions via an advanced programming interface (API) integration to CoreLogic‘s digital mortgage platform. The partnership comes amid wire and title fraud risk reaching an all-time high in fourth-quarter 2023. About 52% of transactions had issues that led to a risk of wire and title fraud, according to FundingShield. […]
Hispanic household wealth ballooned to $63,400 in 2022, growing more rapidly than any other demographic group in the country, according to a recent report published by Hispanic Wealth Project, a nonprofit established by the National Association of Hispanic Real Estate Professionals (NAHREP). While other racial and ethnic demographics have seen an increase in household wealth […]
Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Existing-home sales rose 3.1% from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). Year over year, sales dipped 1.7%, down from […]
The U.S. Department of Veteran Affairs is still moving forward with its servicing purchase program, despite a hearing in the U.S. House Committee on Veterans Affairs last week raising uncertainties about its future. “We’re still moving forward; we’re still working to get our program out for veterans. We do believe that it can save up […]
Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. But analysts anticipate growth in both purchase and refinance originations this year. According […]
First Home Mortgage Corp. bolstered its presence in the Washington, D.C., region with the opening of a new branch in Bethesda, Maryland, the company announced on Tuesday. In that context, First Home appointed Chris Channell, a 2022 HousingWire Rising Star, to the position of vice president of business development at the Bethesda location. Previously, Channel […]
Earlier this month, the U.S. Attorney’s Office for the Southern District of New York (SDNY) announced that it had made a series of 70 charges against current and former officials from the New York City Housing Authority (NYCHA), alleging bribes and kickbacks and charging them with bribery and extortion. The investigation involved more than a […]
Artificial intelligence (AI) startup Brand Engagement Network (BEN) onboarded industry veteran Chris Heller as an adviser to its board of directors. Heller’s addition to the board comes at a time when BEN prepares to go public through a merger with DHC Acquisition Corp. — a special purpose acquisition company (SPAC) focused on technology — in […]
