Fitch Ratings downgraded the long-term issuer default ratings of United Wholesale Mortgage (UWM) to B+ from BB-, citing a sharp increase in leverage driven by second-quarter losses and higher borrowings. UWM’s ratings outlook is stable, Fitch said. UWM’s corporate leverage, measured as gross nonfunding debt to tangible equity, jumped to 6.1x at the end of […]
Achieve has closed a $261.5 million securitization of newly originated home equity lines of credit (HELOCs), its first of 2026 and ninth overall, the company announced Friday. The transaction is backed by 3,129 HELOCs. As of June 30, the cutoff date for the securitization, the pool had a total unpaid principal balance of about $261.5 […]
Dallas-based mortgage lender Certainty Home Lending, an affiliate of Rate, has hired Bryan Ingenito as executive vice president and national operations executive, the company announced Thursday. Ingenito brings more than 28 years of experience in mortgage lending and consumer banking operations, according to the announcement. He is based in the Greater Charlotte metro area. He […]
Log out of ChatGPT. Not forever. Just for the length of this column. You can log back in at the end. I’ll tell you what to do differently. One of the most-followed executives in mortgage just paid a top LinkedIn voice a few thousand dollars to spend eight weeks teaching him how to have AI […]
Blend Labs on Thursday reported higher second-quarter revenue and a narrower operating loss, driven by growth in its software platform business as the digital mortgage technology provider expanded customer relationships and rolled out its new AI-powered Autopilot product. The San Francisco-based company posted second-quarter revenue of $33.8 million, up 7% from a year earlier and […]
United Wholesale Mortgage (UWM) president and CEO Mat Ishbia is pitching the lender’s $2.05 billion capital raise with Oaktree Capital Management and his family as a long-term strategic partnership to support the company’s growth. But the high cost of the structure and dilution are weighing on investors, alongside the fact that it follows several setbacks […]
PennyMac Financial Services said Thursday that it has become the first large mortgage servicer to implement the U.S. Department of Veterans Affairs‘ (VA) new loss-mitigation waterfall, including the VA Partial Claim option, nearly four months before the agency’s Nov. 28 implementation deadline. The rollout comes days after the VA finalized updates to its loss-mitigation and […]
Mortgage application fraud risk increased in the second quarter of 2026 as purchase lending regained momentum and higher mortgage rates kept refinance activity subdued, according to Cotality‘s National Mortgage Application Fraud Risk Index released Thursday. The index rose to a reading of 132 in Q2 2026, up 9.1% from Q1 2026, which Cotality says equates […]
A new Shelterforce report highlights a growing concern for older homeowners in rural America: Housing stability often depends less on affordability than on the ability to maintain aging homes. The report follows Kentucky homeowner Karen Moore, whose leaking roof eventually caused extensive structural damage before help arrived through the Christian Appalachian Project (CAP). “Her roof […]
UWM Holdings Corp. is pairing the announcement of a record $2.05 billion strategic capital partnership with its second-quarter 2026 results, which show the nation’s largest mortgage lender is still leaning into growth despite higher leverage and moving into the red. In an internal memo to employees reviewed by HousingWire, chairman, president and CEO Mat Ishbia […]
A leadership shakeup at Better this week underscores the company’s ongoing struggle to balance its mortgage origination business with its technology ambitions as it pursues profitability, a goal that now appears more distant than leadership previously projected. Daniel Lewis, whose hedge fund Orange Capital shut down in 2016 after 10 years in operation and a […]
United Wholesale Mortgage (UWM) launched its latest pricing incentive for broker partners on Wednesday, saying it will grant a 90-basis-point discount on a large swath of loans through Sept. 8. The “Bullseye 90” incentive allows brokers to apply the 90-bps to a single loan submission of their choice through Sept. 8. Eligible product options include […]
Envoy Mortgage closed a deal to acquire the distributed retail assets of Mason-McDuffie Mortgage Corp. (MasonMac), bringing on about 100 loan officers who produced $1 billion over the past 12 months, the companies confirmed to HousingWire. The transaction, announced internally on Monday, is expected to close toward the end of August. Financial terms of the […]
AnnieMac Home Mortgage has recruited a roughly 12-person retail lending team in Wichita, Kansas, that had joined Union Home Mortgage (UHM) following its acquisition of Sierra Pacific Mortgage in September 2025, the company confirmed to HousingWire. The move gives AnnieMac a new geographic foothold and adds a group that originated about $220 million in mortgages […]
Jason Vinar has joined Rocktop Technologies as chief investment officer, where he will lead Rocktop Capital Advisors, the firm’s capital markets and mortgage servicing rights (MSR) business, the company announced Wednesday. Vinar moves to Rocktop from Two Harbors Investment Corp., a publicly traded mortgage real estate investment trust (REIT), where he most recently served as […]
Mortgage applications decreased 2.9% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending July 31. On an unadjusted basis, the index decreased 3% compared with the previous week. The refinance index decreased 2% from the previous week and was 9% lower than the […]
Lower announced on Wednesday the launch of a mortgage program that allows eligible homebuyers to contribute as little as 1% toward a down payment while receiving a lender grant of 2%, up to $4,500. The program, dubbed ONE by Lower, is designed to reduce the upfront costs of buying a home as elevated home prices, […]
Finance of America Companies Inc. (FOA) grew its reverse mortgage and home equity funding volume 21% year over year in the second quarter of 2026, even as non-cash fair value marks in its portfolio business drove a net loss of $29 million from April through June. The Texas-based lender on Tuesday reported $730 million in […]
BankSouth Mortgage announced on Tuesday that it has appointed Erin Dee as senior vice president and chief innovation officer, a role where she will focus on artificial intelligence, workflow modernization, enterprise transformation and customer experience. Dee will lead initiatives involving technology, operational oversight and organizational transformation as the company works to increase annual mortgage production […]
Beeline Holdings announced Tuesday that it has signed a nonbinding letter of intent to acquire TYTL Corp., a blockchain-based home equity platform, in an all-stock deal aimed at creating a no-debt alternative to home equity lines of credit (HELOCs) and cash-out refinances. The proposed transaction would combine Beeline’s AI-driven mortgage origination, non-QM lending, and title […]
The newly enacted 21st Century ROAD to Housing Act is a “consequential” but incremental step toward addressing housing affordability challenges, with potential benefits for small-dollar mortgages, manufactured housing and multifamily financing, according to several industry trade groups. Bill Killmer, senior vice president of legislative and political affairs at the Mortgage Bankers Association (MBA) — who […]
Rising mortgage rates have impacted the summer homebuying season and have been cited by at least one major lender as a key reason for recent layoffs. But the market got a brief respite this week as rates cooled slightly. On Tuesday, HousingWire‘s Mortgage Rates Center showed that rates for 30-year conforming loans averaged 6.92%, down […]
Rocket Pro is moving full steam ahead in its August “Power Play,” a monthly initiative that the company promised to its business partners back in February that’s announced on the first Tuesday of each month. This month’s Power Play marks the fifth month of the initiative. August’s offerings include an increased refinance credit to 60 […]
Better Home & Finance Holding Co. has appointed board member Daniel Lewis as interim CEO effective immediately, replacing founder Vishal Garg, the company announced Monday. Garg will remain on the company’s board and work with Lewis to ensure an orderly leadership transition. As interim CEO, Lewis will manage the organization, execute the board-approved operating plan […]
A sweeping Social Security reform bill reintroduced in the House of Representatives would boost benefits for millions of Americans, change how cost-of-living adjustments (COLAs) are calculated and impose new taxes on high earners to shore up program finances. The Social Security 2100 Act, H.R. 9519, was reintroduced by Rep. John Larson (D-Ct.) and referred to […]
Chicago-based mortgage lender OriginPoint has hired top-producing loan officers Erin Halliday and Jon Levin from New American Funding, where they operated as a high-volume production team. Halliday and Levin officially joined OriginPoint — a joint venture of Rate and Compass — on July 27 as the Erin Halliday & Jon Levin Team, the company said […]
Florida homebuyers have filed a class-action lawsuit accusing LGI Homes, loanDepot and their joint venture, LGI Mortgage Solutions LLC, of running an “improper home-sales scheme.” The complaint, filed in federal court on July 29, alleges the companies rely on misleading monthly payment advertisements and high-pressure tactics to steer renters into mortgages they cannot afford. The […]
Two Harbors Investment Corp. has secured required state and agency approvals from all but one state for its planned sale to CrossCountry Intermediate Holdco LLC, which will change the previously estimated stub dividend tied to the merger timeline. As previously disclosed, CCM will pay a “stub period” dividend to common shareholders in connection with the […]
Longtime reverse mortgage professional John Luddy says that despite the noise around high interest rates and equity-locked borrowers, the reverse market is in its strongest position yet. In a conversation with HousingWire‘s Reverse Mortgage Daily, the senior vice president of reverse lending at Supreme Lending cited high home values, expanding product options and growing demand […]
Federal banking regulators released a Community Reinvestment Act (CRA) proposal Friday that narrows how banks earn credit for community development while raising asset thresholds for small and midsized institutions. The plan drew immediate criticism from consumer and housing advocates. The Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency (OCC) […]
Intercontinental Exchange Inc., the operator of the New York Stock Exchange (NYSE) and parent company of ICE Mortgage Technology, reported its strongest quarterly mortgage business performance in four years during the second quarter of 2026. While reporting a profitable quarter, the company also announced the acquisition of MarketAxess Holdings Inc., an electronic trading platform for global institutional […]
For decades, the mortgage industry has focused on helping consumers buy and refinance homes. It’s where lenders have built their businesses, where technology has evolved and where most originators have spent their careers. But that’s only half the market. Every day, homeowners move into a new phase of homeownership. They build equity, enter retirement, help […]
As older Americans continue to grapple with escalating housing expenses, a higher overall cost of living and growing health care costs, new Medicare Part D figures for 2027 could further influence household budgets. Adding to that financial picture, the Trump administration announced it will end a temporary Medicare Part D premium stabilization program after the […]
Christopher Gallo, once one of the nation’s top mortgage loan officers, has pleaded guilty to conspiracy to commit bank fraud in a federal court in New Jersey, according to court filings reviewed by HousingWire. Gallo entered the guilty plea to count one of the indictment — conspiracy to commit bank fraud — on Wednesday in […]
VantageScore 4.0, the credit scoring model that Fannie Mae and Freddie Mac are transitioning to for agency mortgages, is now integrated into Optimal Blue’s end-to-end capital markets platform, the companies announced Thursday. The integration makes VantageScore 4.0 available across Optimal Blue’s product, pricing and eligibility engine, as well as its mortgage servicing rights (MSR) valuation, […]
Daniel Lewis, founder and managing partner of hedge fund Orange Capital, has joined the board of Better Home & Finance Holding Co., replacing outgoing director David Barse, the company announced this week. The changes took effect July 27. Lewis brings more than 30 years of investment and operating experience, including early-career roles at Citigroup before […]
Artificial intelligence (AI) is making fraud schemes more convincing and increasing the financial risks facing older Americans, according to cybersecurity and consumer protection expert Steven J. J. Weisman. Weisman — an attorney, author and senior lecturer at Bentley University — discussed the growing sophistication of scams during a presentation hosted by Fairway Home Mortgage on […]
Technology platform GoodLeap announced on Thursday the launch of a Visa Signature credit card backed by a home equity line of credit (HELOC), allowing homeowners to finance home improvement projects and everyday purchases while earning cash-back rewards. The GoodLeap Home Visa Signature Card, or GoodLeap Home Card, provides eligible homeowners with access to up to […]
Freddie Mac on Thursday morning reported net income of $3.8 billion in the second quarter, a 61% increase from a year earlier, driven largely by a credit reserve release and higher net interest income. Net income increased from $3.558 billion in the first quarter. Net revenue rose 1% year over year to $5.991 billion. Net […]
PennyMac Financial Services on Wednesday reported second-quarter 2026 net income of $22 million, down 84% from a year earlier and sharply lower than its first-quarter net income of $82.3 million, as higher interest rates reduced mortgage production volume and weighed on profitability. The company’s weaker quarter came in tandem with layoffs by the Westlake Village, […]
Proprietary reverse mortgages, rather than government-insured Home Equity Conversion Mortgages (HECMs), are driving the reverse mortgage industry’s recent growth, according to an analysis of Home Mortgage Disclosure Act (HMDA) data published Wednesday by New View Advisors. Total reverse mortgage volume rose from $6.25 billion in 2023 to $7.51 billion in 2024 and $9.65 billion in […]
The Federal Reserve on Wednesday left its benchmark interest rate unchanged, maintaining a target range of 3.5% to 3.75% for a fifth consecutive meeting. Heading into the meeting, most monetary policy watchers had expected the Fed to stand pat after inflation cooled in June. Still, a minority (about 30%) had penciled in a hike, a […]
New Silver Lending LLC has acquired Mayflower Venture Partners, expanding its presence in New England’s fix-and-flip and construction lending markets, the company announced on Wednesday. Quincy, Massachusetts-based Mayflower is a direct lender focused on loans for single-family and small multifamily properties throughout New England. The firm, founded by Hussien Skaiky, has emphasized fast term sheets, […]
Morgan Stanley mortgage employees say they faced pressure from the firm’s wealth advisers to approve home loans for affluent clients despite underwriting concerns, according to a report published Tuesday by The Wall Street Journal based on internal documents, emails and a whistleblower complaint. Current and former employees reportedly said that some advisers pushed for approvals on owner-occupied mortgages […]
Mortgage applications decreased 6.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending July 24. On an unadjusted basis, the index decreased 6% compared with last week’s data. The refinance index decreased 10% from the previous week and was 2% lower than the […]