PennyMac Financial Services Inc. plans to grow organically and in a “capital-light” fashion amid a wave of consolidation in the mortgage industry. If the macroeconomic environment remains supportive, the company expects to deliver solid returns on equity to investors through 2026. “While there can be some fluctuations in our results due to typical seasonality, if […]
PennyMac’s strategic growth amid mortgage industry shifts Read More »
Navigating change and technological transformation took center stage this week at the Mortgage Bankers Association‘s annual convention in Las Vegas, where industry leaders discussed consolidation, artificial intelligence and how to keep pace with shifts across the mortgage landscape. Bill Emerson, president of Rocket Companies and moderator of the session, opened the discussion by noting that
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Mortgage rates were perfectly unchanged today, on average. With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years. Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to
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U.S. homeowners saw their available equity pull back in the third quarter, contributing to an upward creep in the percentage of underwater mortgages, according to a new report. Approximately 2.8% of mortgaged properties in the country were considered seriously underwater during the quarter, maintaining a year-long trend, according to real estate data provider Attom. The
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Fannie Mae Chief Operating Officer Peter Akwaboah has added the acting CEO title following the departure of Priscilla Almodovar, the company announced late Wednesday afternoon. Akwaboah, a former Morgan Stanley executive, came on board at Fannie in February 2024. In addition, John Roscoe and Brandon Hamara have been named as co-presidents of the government-sponsored enterprise.
Fannie Mae names Akwaboah acting CEO, replacing Almodovar Read More »
As thousands of borrowers potentially face job interruption resulting from the government shutdown that’s disrupted some loans, the housing finance industry is working to identify the right messaging and resources to keep payments and originations on track. With a Congressional Budget Office report pegging the number of jobs impacted at 750,000, mortgage businesses are offering
How mortgage companies aim to aid borrowers amid shutdown Read More »
For all of the handwringing from government officials and economists regarding whether the Federal Reserve will reduce short-term rates again this year, many Americans just don’t care, a Wallethub survey indicates. Most people are expecting the Federal Open Market Committee to cut further at its meeting on Oct. 28 and 29, plus making what would
Many Americans ho-hum about new Fed rate cut, survey finds Read More »
You’ve got big plans for 2026. But what you do this year could be the difference between a smooth sale and a stressful one. If you’re thinking of selling next spring (the busiest season in real estate), the smartest move you can make is to start prepping now. As Realtor.com says: “If you’re aiming to
Planning To Sell in 2026? Start the Prep Now Read More »
A new survey from Kin Insurance suggests that Gen Z homeowners are less satisfied with their home insurance providers than older generations, citing poor customer service and claims experiences rather than cost as their main frustrations. Findings highlight a growing disconnect between digital-native Gen Z homeowners — born between 1997 and 2012 — and the
Gen Z homeowners report higher insurance company dissatisfaction Read More »
Nearly 90% of working-age Americans are concerned about how they’ll generate income in retirement — and more than half worry about outliving their savings. That’s according to the 2025 U.S. Retirement Survey by Schroders, a London-based multinational asset manager. The report, released Tuesday, found that 87% of Americans who’ve yet to retire expressed at least
Americans worry about retirement income sustainability Read More »