Washington, D.C. moves to bolster reverse mortgage foreclosure protections

The governing council of the nation’s capital, Washington, D.C. is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure.In mid-January, the D.C. council enacted the “Fairness and Stability in Housing Amendment Act of 2024,” whic

Mortgage servicing executives grapple with tech stack questions

Mortgage servicing is more complex than ever, and while some large servicers are sinking real resources into innovation, many are hesitant to branch out beyond the decades-old systems they’re comfortable with. This could be risky if delinquencies continue to rise in the coming years.“I think service

Fannie Mae says housing market optimism inched up in January

Homebuyer confidence for purchasing a home increased slightly in January, according to Fannie Mae‘s Home Purchase Sentiment Index (HPSI). The HPSI increased 0.3 points to 73.4 in January and is now 2.7 points higher than it was a year ago.The share of respondents who believe it’s a good time to sell

Mortgage rates remain high due to labor market resilience

The labor market is showing signs of softness but is not breaking down yet, which has kept mortgage rates higher for longer. Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. For those seeking lower mortgage rates, it’s mo

Insurance exodus left many properties unprotected from the LA fires

Last month’s wildfires in Southern California had a devastating impact as 29 people were killed and about 16,000 homes were destroyed. Leading up to the disasters, the state’s largest private home insurer dropped policies in high-risk areas, leaving them financially unprotected after they burned to

This Real Estate Scam Could Cost You Thousands of Dollars

You’re smart. You’re careful. But even savvy buyers and homeowners fall victim to real estate fraud. Criminals are impersonating sellers and title companies, resulting in swindles that can take months of legal hassle to repair and cost you thousands of dollars.Do You Know the Targets?It starts with

5 Scams Targeting New Homeowners

Buying a home is exciting. However, scammers may try to use your excitement and inexperience against you. Watch out for these attempts to defraud you.Partner CompaniesBe wary if you receive a letter from a company claiming to be a partner or associated with your mortgage lender wanting additional in