Single-family rent growth in January puts ‘renewed pressure on renters’

Rent growth for single-family homes ramped up at the start of 2025, according to a new report by CoreLogic. The data provider’s Single-Family Rent Index showed that rent prices jumped 2.4% during the year ending in January.January’s rent increase is only slightly higher than December’s increase of 2

Harvard study suggests inflation, labor shortages threaten remodeling industry

The U.S. remodeling industry reached $600 billion in value following the COVID-19 pandemic. Despite recent softening in 2022 and 2023, it still remains 50% above pre-pandemic levels. But industry fragmentation, inflation and a shortage of skilled trade labor jeopardize the ability of the industry to

Federal Reserve stands pat, but still sees rate cuts ahead

There was no surprise on Wednesday as the Federal Open Market Committee (FOMC) chose to leave the federal funds rate unchanged at a range of 4.25% to 4.5%. The decision was almost universally expected by market observers as the Federal Reserve weighs data that could be pushing the U.S. toward a rece

NRMLA supports Hawaii bill seeking state-run reverse mortgage program

After taking the time to digest elements of a proposal from lawmakers in Hawaii, the National Reverse Mortgage Lenders Association (NRMLA) has expressed support for a measure to establish a state-run Home Equity Conversion Mortgage (HECM) program there.In a letter submitted by NRMLA to sponsor lawma

Mortgage industry veteran Tammy Richards takes on new role at Kind Lending

Chief operating officer Tammy Richards is taking on a new role at Kind Lending. Richards announced Tuesday on LinkedIn that she’s now the president of retail at Kind Lending, a move that comes a little less than a year after she joined the company.She had an association with Kind Lending before bein

Longbridge appoints new head of credit policy, underwriting and QC

Financial services veteran Patrick Halonen has joined reverse mortgage lender and servicer Longbridge Financial as the company’s new head of credit policy, underwriting and quality control.“With over 25 years of expertise in the financial services industry, Halonen’s appointment underscores Longbrid

CHLA urges FHFA director to keep issues for small IMBs in mind

Given the current housing environment in the U.S., the Federal Housing Finance Agency (FHFA)’s new leader should prioritize the affordable housing footprint across the country, find ways to cut costs in the origination of mortgages and take additional moves designed to mitigate risk.This is accordin

Vishal Garg says Better’s AI could underwrite 75% of mortgages by year’s end

Better‘s fourth-quarter and full-year 2024 earnings call showcased the company’s growing revenue and its plans to further integrate artificial intelligence into the mortgage process.Vishal Garg, Better’s CEO and founder, said that despite a market with historically low housing affordability and pers

SFR investors scaled back home buying in 2024

Institutional home-buying activity remained subdued last year as transactional players — including iBuyers, flippers, and sales leaseback firms — dominated the market. While major single-family rental (SFR) funds continued to make acquisitions, their volume was significantly lower than during the po

Cardinal Financial launches loan processing solution for mortgage brokers

Cardinal Financial Wholesale has introduced Cardinal Complete, a new loan processing solution aimed at streamlining operations for mortgage brokers.The platform offers an end-to-end processing service designed to reduce administrative burdens and improve efficiency from application to closing.The se

Indie brokerage and United Real Estate Richmond form RVA Blue Realty

Virginia-based River City Blues Realty has merged with United Real Estate Richmond to form RVA Blue Realty, according to an announcement on Wednesday. United Real Estate Richmond is the largest Black-owned real estate brokerage in America, founded by brothers John S Finn Jr. and Jeffrey S Finn.Throu

The state of the reverse mortgage business in early 2025

Reverse mortgage business in the early part of 2025 has been humming along consistently, though not exactly “booming” as mortgage rates remain elevated and lenders are moving on their own initiatives to expand business and further forge partnerships with the forward mortgage side of the industry.Thi

What went wrong at Redfin?

Glenn Kelman seemed unusually down.The Redfin CEO’s playful demeanor and quotable banter was notably absent on the company’s fourth-quarter 2024 earnings call at the end of February. There could have been many innocuous reasons for sounding a bit deflated — not enough sleep or a bad day at work.But

The housing market is ‘failing older adults,’ Urban Institute says

The state of the U.S. housing market — particularly its levels of affordability, available inventory and accessibility for those with mobility or cognitive challenges — presents a unique challenge for older Americans on fixed incomes. This has led to a “failure” to properly serve the senior cohort.T

What’s keeping homebuilders from large-scale layoffs?

Today’s new construction report from the Census Bureau showed month-to-month growth in housing starts, but falling housing permits. Both of these data lines are currently still at the levels we saw in the early part of the COVID-19 recession. However, employment for residential construction workers

Advocus National Title starts virtual closing platform in Chicago

Advocus National Title Insurance Co. has introduced GO Live, a virtual closing system designed to streamline real estate transactions for attorneys and their clients.The platform, which debuts in Chicago, will expand to additional markets in the coming months.GO Live allows attorneys to guide homebu

Compass tells MLSs to change CCP or face legal exposure

Compass and its CEO, Robert Reffkin, have not been shy when it comes to voicing their displeasure over the National Association of Realtors’ (NAR) Clear Cooperation Policy (CCP). Over the weekend, the firm took things a step further by sending an email to MLSs with suggested changes to their CCP pol

Valon partners with VIU by HUB on instant home insurance quotes

Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs.Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from

Mortgage rates are stable even as the economic outlook dims

Mortgage rates appear to have plateaued after several weeks of steady downward movement.On Tuesday, 30-year conforming rates were at 6.79% and 15-year conforming rates were at 6.58%, according to HousingWire’s Mortgage Rates Center. The 30-year rate is unchanged from a week ago while the 15-year rat

Will GSEs get the DOGE treatment? FHFA director alludes to reviews of remote work, payments

Fresh from last week’s Senate confirmation vote, Federal Housing Finance Agency (FHFA) Director Bill Pulte is alluding to wide-ranging reviews of remote-work policies and previous contracts he plans to assess at the government-sponsored enterprises (GSEs). This could come in concert with efforts by