Trump’s VA to end veteran foreclosure relief without replacement
In a joint statement, Rep. Mike Bost of Illinois and Rep. Derrick Van Orden of Wisconsin said, “The Trump administration rightfully put an end to VA’s VASP program,” arguing that the program exposed taxpayers to too much risk by requiring the VA to buy delinquent loans and hold them on its books. They instead support […]
New Trump tariffs could damage entire mortgage market
Carrillo believes that the tariffs, combined with other economic factors and potentially less regulation in the lending market, could lead the country to another housing collapse similar to the one in 2008. Real estate analyst Nick Gerli warns that the US housing market is showing signs of trouble similar to the 2008 crisis, especially […]
US economy adds more jobs than expected in March
However, federal employment decreased thanks to the terminations initiated by the Trump Administration and the Department of Government Efficiency (DOGE), declining by 4,000 in March following a loss of 11,000 in February. Employees on paid leave or receiving ongoing severance pay are counted as employed, so this number could increase as those come to an […]
Stable mortgage rates meet cautious homebuyers
“Over the last month, the 30-year fixed-rate has settled in, making only slight moves in either direction,” Freddie Mac chief economist Sam Khater said in the report. “This stability is reassuring, and borrowers have responded with purchase application demand rising to the highest growth rate since late last year.” Still, that demand may not be […]
Powell says tariffs will raise inflation – but Trump again demands lower rates
The president also urged Powell to “do the right thing” and lower rates in March ahead of the tariff regime’s imposition. Powell appears to rule out immediate rate reduction Money markets now expect the Fed to cut by a total of 100 basis points in the remainder of 2025 after Trump’s tariffs roiled global markets […]
Brookfield’s Angel Oak deal a signal of confidence in non-QM lending
“Angel Oak believes Brookfield can add significant value as Angel Oak will seek to broaden its reach across the US and deliver innovative products to borrower segments that are underserved by traditional lenders,” Hutchens told Mortgage Professional America. “Brookfield believes in the growth potential and quality of non-QM assets and views Angel Oak as a […]
Odds of Fed rate cut surge after Trump’s ‘Liberation Day’ tariffs fuel recession fears
“Even if tariffs are ultimately reduced by year-end, the near-term shock and associated uncertainty is likely to drive a near-term slowdown in the US economy and reduce full-year 2025 growth to closer to or below 1%,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. “We would also expect the Federal Reserve to […]
The mortgage strategy that banks don’t want you to know
Tafolla, however, found a loophole in Bank of America and “exploited the hell out of it.” That loophole allowed him to funnel roughly $5,000 to each of more than 200 families – until the bank caught on and forced him out. Now Tafolla is challenging the system again. His step-down refinance model helps homeowners lower […]
5-Star Wholesale Lenders: Survey now open
Mortgage Professional America is looking for feedback for the inaugural 5-Star Wholesale Lenders survey, which covers key areas to rate lenders, including turnaround time, loan programs, and interest rates. This is a unique opportunity to have your insights shape the industry, so we hope you’ll take a few minutes to complete this short survey. All respondents […]
Will wildfires change the SoCal mortgage and housing outlook for good?
“It’s going to be interesting to see their appetite for risk and how much exposure they want in that area, from rebuilding and taking the risk on the financial side,” Kingsborough said. “So, I believe you’re going to see more frustration, and you’re going to see longer times to rebuild.” The costs of rebuilding may […]