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Fraud, mismanagement led to millions in losses for Houston Housing Authority

Housing Market, Houston, HWmember, Public Housing, Regulatory, Rental Properties, Texas /

As issues continue to persist across the country for local housing authorities, the situation in Houston has led to an investigation by prominent local media outlets and a commissioned report by outside legal counsel. The probe found that mismanagement of contractors and the submission of fraudulent paperwork likely led to millions of dollars in losses. […]

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Colorado’s surging median age is attributed to aging in place

Aging in Place, Colorado, HECM, HWmember, Reverse /

In an ongoing series of stories focused on the dynamics of Colorado’s aging population, the Colorado Sun previously detailed some of the ways that the state is confronting the “silver tsunami” of people growing older while needing sufficient services to accommodate their needs. While the state may not have the largest population of people in

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Extreme weather and high insurance costs pose foreclosure risk

Climate Change, Flood insurance, Foreclosure, Homeowners insurance, Housing Market, Hurricane, HWmember, Mortgage, Origination /

The rising cost of homeowners’ insurance coupled with the rising regularity of weather-related natural disasters is serving to erode the longstanding barrier between mortgage lenders and loan losses, according to a new report published by First Street. As the frequency of disasters has risen — destabilizing the insurance market, limiting coverage and raising consumers’ costs

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Rural America isn’t immune to housing squeeze

Affordability, Down Payment Assistance, Home Prices, Homeownership, Housing Inventory, Housing Market, HWmember /

Rural areas of the U.S. that have long been viewed as a refuge for affordable homeownership are now grappling with rising prices, limited inventory and increasing competition — pressures once thought unique to urban housing markets. “Even the term ‘affordable’ feels like a relic of the past,” said Jake Vehige, president of mortgage lending at

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Northern Nevada brokerage joins Century 21 network

Brokerage, Century 21, HWmember, Nevada, Real Estate, Real Estate Agents /

A northern Nevada real estate brokerage led by a longtime local broker has joined the Century 21 network — aiming to grow its presence across the region. Michelle Barney, broker and owner of Nevada Prime Real Estate LLC, announced her Fernley, Nev.-based firm has affiliated with Century 21 and will now operate as Century 21

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Mortgage lenders lag on compliance as tech evolves rapidly

Artificial Intelligence, Compliance, Cybersecurity, HWmember, Mortgage, Technology /

Amid a surge in AI adoption and mounting cybersecurity threats, only 51% of nonbank mortgage lenders say they feel fully prepared to handle compliance risk — a warning sign in an industry that’s undergoing rapid digital transformation. That’s according to a new joint study from HFS Research and Cognizant. “Reinventing Non-Bank Mortgage Lending Journey in the Age of

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The driving forces behind mortgage lenders moving away from third-party processors

Contributors, HWmember, Mortgage, Mortgage Rates, Opinion, Origination /

Mortgage lenders and services today face significant operational challenges, especially when relying on third-party processors for their outsourced services. While these middlemen operators can streamline certain tasks, the benefits are outweighed by their extreme high costs as well as the limitations over operational controls. Here we will focus on the complexities involved with outsourcing, and

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The Agency’s Rainy Hake Austin on leadership and AI integration

Artificial Intelligence, Brokerage, HWmember, Podcast, Real Estate, Real Estate Agents, RealTrends, The Agency /

Rainy Hake Austin, president of The Agency, joined Tracey Velt on this week’s episode of the RealTrending podcast to discuss the evolving landscape of real estate leadership and operations. The Agency, which is ranked No. 13 by sales volume and is the fourth-largest largest privately held independent brokerage in the country, has expanded to nearly

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Longbridge’s new proprietary reverse mortgage aims to preserve home equity for heirs

Baby Boomer, Home Equity, HWmember, Longbridge Financial, Reverse /

Citing the desire among many older homeowners to leave their homes to members of their family, New Jersey-based reverse mortgage lender and servicer Longbridge Financial has announced a new proprietary reverse mortgage product that aims to help borrowers preserve home equity for their heirs. The latest offering in the company’s Platinum line of proprietary reverse

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Competition for HELOC business heats up as home equity grows

HELOCs, Home Equity, HWmember, LendingLife, Mortgage, Mortgage Bankers Association, Mortgage Rates, Origination /

John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the

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