Having spent decades navigating the ups and downs of the mortgage industry, I’ve learned that challenging market conditions offer two choices: stand still and hope for improvements or go on the offensive and invest in positioning your company for long-term success. Today’s market represents one of those pivotal moments, with recent data indicating slower home […]
4 steps to take before the next mortgage market shift Read More »
Increasing loan balances, reduced head count and higher seasonal volume led nonbanks to report the highest loan production profits in years last quarter, according to the Mortgage Bankers Association. The pre-tax net production profit of $950 per originated reversed a two-quarter slide into the red, with improvement surging from a loss of $28 per transaction
Cost cutting helps drive IMBs to best numbers since 2021 Read More »
Lenders, homeowners and servicers are facing a massive wildfire risk in the Western U.S. that extends beyond the initial burn. Insurance woes, inflationary pressures and contractor shortages are weighing on affected mortgage holders, according to Cotality’s 2025 Wildfire Risk Report. The assessment found nearly 2.6 million homes at moderate or greater risk of wildfire damage
How big is the wildfire risk in the Western housing market? Read More »
With all eyes now firmly focused on the second half of 2025, mortgage servicers throughout the U.S. face an important period for property tax management. More than 60% of all property tax bills are due between July and December, making the second half of the year extremely critical for the mortgage industry. Data from FRED
Common pitfalls: Where mortgage servicers often stumble in the second half Read More »
A California regulator is fining the defunct Caliber Home Loans $1.8 million for overcharging borrowers, an issue stemming from an examination almost a decade ago. The former lender, which was purchased by Newrez in 2021, has also refunded over $550,000 to impacted California borrowers, according to a press release Monday. The California Department of Financial
Caliber Home Loans fined for overcharging clients Read More »
Artificial intelligence may be known for its speed, but in mortgage servicing, the real opportunity is in reshaping decades-long relationships with homeowners, according to Leslie Peeler, executive vice president and chief operating officer at Cenlar FSB. Speaking at HousingWire’s AI Summit on Tuesday, Peeler told the audience how her time at IBM shaped her view
Cenlar’s Leslie Peeler on ‘disruptive AI’ for mortgage servicing Read More »
New mortgage delinquencies showed overall improvement in loan performance, but in what could be a more concerning trend, later-stage distress and foreclosures trended upward in the second quarter. The overall delinquency rate decreased to a seasonally adjusted 3.93% during the quarter, reflecting pullbacks from both three months and one year earlier from 4.04% and 3.97%,
Late-stage delinquencies, foreclosures see noticeable spike Read More »
Fannie Mae recently updated its servicing guidelines to include new instructions for handling temporary interest-rate buydowns, which have become more popular as a way to attract borrowers. The new guidelines provide clarity for servicers on how to manage these loans. The new rules, which Fannie has asked servicers to adopt immediately, become mandatory Nov. 1.
Fannie Mae adds new temporary buydown rules for servicers Read More »
Foreclosure rates climbed across the country in July, a sign that high home costs may be starting to catch up with homeowners. Lenders and banks moved to foreclose on 36,128 homes nationwide in July, an 11% increase from last month and a 13% increase from the same time last year. One out of every 3,939
Foreclosures tick up as home costs weigh heavy on borrowers Read More »
Since taking on responsibility for all Selene Holdings’ business lines earlier this year, Chief Strategy and Growth Officer Doug Whittemore has been focused on product development and scale by drawing on his 25 years of bank and nondepository experience. Whittemore — who previously led teams at U.S. Bank, JPMorgan Chase, Mr. Cooper and Citibank —
Selene Holdings’ Doug Whittemore on scale, cost, niche loans Read More »