Ex-Wyndham Capital Mortgage exec launches Cornerstone Home Loans
Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage, spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. At Wyndham, Kirby led the expansion
What will housing credit look like in next recession?
With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Many people predicted that the U.S. housing market would crash during the pandemic. One of the main reasons
Homebridge to lay off employees following deal with CMG
New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor
ICBA, affiliates urge CFPB to improve construction loan disclosures
The Independent Community Bankers of America (ICBA) and 42 affiliated state banking associations are calling on the Consumer Financial Protection Bureau (CFPB) to approve language that allows community banks to test out different consumer construction and construction-to-permanent loan disclosures, which
Low inventory a challenge to housing market as rates decline
Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season. But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Freddie Mac’s Primary Mortgage Market Survey showed
Record keeping needs improvement: FHFA watchdog
The Federal Housing Finance Agency (FHFA)’s Office of the Inspector General (OIG) has determined that the FHFA has followed guidance related to conservatorship of the government-sponsored enterprises (GSEs). However, staff turnover and pervasive record keeping issues have caused a loss
Don’t forget to reserve your room for HousingWire Annual
HousingWire Annual kicks off on October 10, 2023. It will be here before you know it! As the conference quickly approaches, so does the deadline to lock in the exclusive room rate for Hyatt Lost Pines in Austin, Texas. Take
Opinion: Don’t cut back on professional support services
The old saying that “the devil’s in the details” can be applied to many different circumstances. And it’s undeniable that the title and settlement services industry is, at its very core, about close attention to the little things. After all,
Home-equity niche will benefit from a private-label lift
The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Securitization channels for those home-equity products,
28 Rental Units Before 28 Years Old by Putting Family First
Hope Through Housing uses MLK Grant to fund after school programs
Hope through Housing is a non-profit organization whose mission is to end generational poverty through affordable housing, educational programs and advocacy. In 2022, they were the recipients of an MLK grant which will be used to fund their youth development
2023 Rent Prices Enter Dangerous Territory
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Why industry watchers expect mortgage rates to fluctuate in coming weeks
The Federal Reserve‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy
VA makes major change to America’s most underutilized mortgage program
The U.S. Department of Veterans Affairs (VA) announced on Wednesday that it will lower the VA Native American Direct Loan (NADL) program interest rate from 6% to 2.5% in an effort to make housing loans more affordable for Native American