Fed could make emergency rate cut next week as market chaos continues
Analysts suggest a US recession could be on the way this year Trump’s move, which saw the US slap a “baseline” 10% tariff on all countries – and steeper levies on many key trading partners – sent markets into a steep decline and sparked a huge selloff on Wall Street, with the president’s intransigence at […]
A&D Mortgage closes acquisition of Mr. Cooper’s wholesale origination channel
“Today marks an exciting new chapter for A&D Mortgage,” said A&D Mortgage CEO Max Slyusarchuk. “With this acquisition complete, we are better positioned than ever to deliver a broader range of loan solutions, industry-leading technology, and our hallmark ‘YES’ approach to service.” The company said the combined platform funded more than $10 billion in originations […]
Americans brace for a housing downturn, many blame Trump’s trade war
“There’s no doubt that the current state of the housing market is a source of anxiety for prospective buyers and sellers,” Realtor.com senior economist Joel Berner said in the report. “Buyers are faced with high mortgage rates, which are poised to remain high due to the inflationary nature of the Trump administration’s trade policy.” Berner […]
UWM names longtime executive as chief financial officer
United Wholesale Mortgage (UWM) has announced a leadership change at the top of its finance team. Rami Hasani (pictured) has been appointed chief financial officer, taking over from Andrew Hubacker, who will transition into a senior advisor role effective immediately. Hasani will officially step into the CFO role on April 1, 2025, overseeing the company’s […]
VA job cuts, loan changes threaten wider housing market disruption
The VA issued a memo in early March that called for the layoff of at least 76,000 employees. VA chief of staff Christopher Syrek sent the memo, which calls for a return to 2019 staffing levels of 399,957 employees, according to the Associated Press. The organization had 479,000 employees prior to the layoffs. According to […]
New homes costing more due to regulations – builders
In a market already short more than 1.5 million housing units, Hughes said those extra expenses are keeping homes out of reach for many Americans, and stalling progress in fixing the country’s housing crisis. One of NAHB’s biggest concerns is a federal mandate that ties mortgage insurance to strict new building codes. New requirements from […]
Supreme Lending, ARDRI reveal veteran hires
“Sarah brings the kind of energy, vision, and heart that doesn’t come around often,” said Scott Everett, president and CEO of Supreme Lending. “She’s a doer, a builder, and most importantly—she leads by enriching the lives of everyone around her.” Middleton most recently served as chief growth officer at Movement Mortgage, where she led national […]
New York Real estate market shows signs of recovery
Tight inventory remains a challenge for buyers, especially for properties in turnkey condition. Older condominiums and co-ops that require renovations still present value opportunities, but the increasing cost and complexity of remodeling have deterred many potential buyers. Renovation costs have surged, with mid-range projects that once cost $250 to $300 per square foot now exceeding […]
Volatile week for mortgage applications amid economic uncertainty
While mortgage rates have hovered in a tight range, refinancing continues to lag. Refinance applications fell 6% week over week, although it still sits 57% higher than the same time last year. In dollar volume, refinance application volume fell 4.5%, according to Fannie Mae. The refinance share of total mortgage activity also declined, falling to […]
DOGE panel to review Trump’s plan for massive federal property sale
“The US federal government has been an irresponsible landlord for decades, squandering tens of billions of taxpayer dollars,” said subcommittee chairwoman Marjorie Taylor Greene (R-Ga.). “It cannot accurately track the properties it owns, including their condition, usage, or financial value, and continues to spend billions annually on vacant buildings.” Greene claimed that during the pandemic, […]