Is there a new way to address the truth about staffing in the mortgage industry? When will we learn to be more transparent to our employees — people with families and bills — and stop the endless flow of layoffs? While taking with Clayton Collins, CEO of HW Media, he used the term “elasticity” when […more]
Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Tappable equity, the amount available for homeowners to access while retaining at least 20% equity in their homes, rose again […more]
Opened in 1975 and shuttered by the pandemic, the Royal Oak bar and two-story building at 2201 Polk Street, on the northwest corner of Polk and Vallejo, hit the market listed for $8.5 million last year. While the Royal Oak doesn’t appear to have sold, or at least closed escrow, and no plans for “2201 […more]
South Carolina-based Movement Mortgage has hired two executives away from rival Fairway Independent Mortgage to boost the growth and development of its distributed retail sales team. The nonbank lender named the 34-year veteran Sarah Middleton to the new position of chief growth officer to attract, onboard and develop sales leaders. Meanwhile, Kevin McGovern will be the director of […more]
On the strength of its servicing segment, California-based Pennymac Financial Services delivered a $129.2 million profit in the second quarter, which was down 25.6% quarter-over-quarter and 36.7% year-over-year, the company reported Tuesday. The nonbank lender’s top executives said the company reported a strong performance given the downturn in mortgage originations. “We improved margins across all three channels,” […more]
Demand for mortgage loans increased last week as a troubling economic outlook led to a decline in rates, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, increased 1.15% for the week ending July 29, after falling for four consecutive weeks to the lowest level in […more]
Since we first started recognizing our HousingWire Vanguard award winners years ago, one key theme has been very clear — Vanguard honorees all share an unmistakable impact on the industry at-large. This immense impact on the industry is why we’re thrilled to bring some of the greatest housing leaders of all time together for our […more]
The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. The changes took effect July 27. In a department memo, the VA explained that the move was a response to “high demand for appraisal services and limited availability of appraisers in certain local market areas.” But the […more]
Some Bay Area counties have seen prices fall more than 7%.
Rocket Loans will be offering loans to customers who are installing solar panels, the lender announced Tuesday. The news comes exactly one year after its parent Rocket Companies announced it would enter the green energy game in 2022. Rocket Loans will provide financing to Rocket Solar customers who choose to have a solar electricity system […more]