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Author name: Ricky Vasquez

Wall Street is sizing up Warsh’s options to shrink Fed portfolio

Capital markets, Federal Reserve /

Federal Reserve Chair nominee Kevin Warsh has several paths toward reducing the central bank’s $6.6 trillion balance sheet but the process will be costly and lengthy, Wall Street strategists say.   Processing Content Warsh has called for dramatically paring the Fed’s massive financial footprint, rekindling the debate around the size of its portfolio which swelled […]

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Institutional home buyers gained ground in December

Housing affordability, Housing Inventory, Originations, Politics and policy /

Institutional investors modestly expanded their share of single-family home purchases in December, complicating President Donald Trump’s call to push large buyers out of the market. Processing Content Large investors, those that own between 100-999 properties, accounted for 3% of all single family-home purchases and mega investors, 1,000 or more properties, totaled a 2.8% share in

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Rocket Pro executive Mike Fawaz leaves the megalender

Rocket Pro executive Mike Fawaz leaves the megalender

CAREER & COMPENSATION, Career moves, Mortgage brokers, Rocket Mortgage /

Rocket Pro leader Mike Fawaz, one of the company’s most public-facing leaders, has left his position.  Processing Content The executive vice president, who’s been with Rocket since 2011, made his announcement in a Linkedin post Monday, and his employer confirmed his departure Tuesday. Housingwire first reported the news. His exit comes two weeks after general

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Homebuilder sentiment dips to 5-month low on affordability

Homebuilders, Housing Inventory, REALTORS & HOMEBUILDERS /

US homebuilders’ confidence slipped again this month, bogged down by persistent worries over affordability and high construction costs.  Processing Content An index of market conditions from the National Association of Home Builders and Wells Fargo edged down in February to 36, the lowest level since September. That fell short of all but one estimate in

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How upfront income accuracy transforms lending

Contributors, HWmember, Income verification, Mortgage, Opinion, Origination /

Mortgage lending has a Day 28 problem. Borrowers engage with lenders on Day Zero. Expectations get set. Loan options get discussed. Confidence gets built. Then income finally receives scrutiny on Day 28—deep in underwriting, after time, money, and operational effort have already been spent. The result? Income surprises kill deals. Borrowers wait, frustrated. Lenders scramble

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Scott Cox: If you don’t know the why, you may miss the signal

Homebuilders, Housing Policy, Land, The Builder's Daily /

Many more people know how to do their job, than know why a given approach works.  This can cause severe and unknown risk, because if circumstances change, the previous “right” solution may no longer work, or opportunities may be missed.  A couple of examples: Risk Example In the mid- to late 1990s, as Sacramento was

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Fairway Home Mortgage announces educational partnership for home equity adviser credential

Continuing Education, Fairway Home Mortgage, Financial Adviser, Home Equity, HWmember, Retirement, Reverse, Reverse Mortgage Daily /

Fairway Home Mortgage on Tuesday announced a partnership with the National Association of Insurance and Financial Advisors (NAIFA) to unveil a new educational credential for NAIFA members. The Certified Home Equity Advisor (CHEA) credential aims to help financial and insurance professionals “responsibly integrate home equity into comprehensive retirement planning,” Fairway explained in a press release.

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Massachusetts studies adding supply with single-stair apartments

Affordability, Affordable housing, Architecture, Policy, The Builder's Daily /

America’s quilt work of states whose governors and lawmakers are bucking for housing policy change to break through supply constraints at the root of the nation’s affordability crisis now counts Massachusetts among them. With a focus on prohibitively constrictive building codes and zoning ordinances, Gov. Maura Healey has adopted an approach officials in other states

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Exclusive: Mike Fawaz announces departure from Rocket Pro

HWmember, LendingLife, Mortgage, Mortgage Broker, People Movers, Rocket Companies, Rocket Mortgage, Team Leaders, Wholesale Lending /

Mike Fawaz said Monday that he’s departing Rocket Pro after roughly 15 years with the company and plans to announce his next steps in March. “After nearly 15 years, I have made the thoughtful decision to step away from Rocket,” Fawaz said in a statement given to HousingWire. “After significant reflection, I believe this is

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