Pending home sales down nearly 25% from 2021 in August

Pending home sales continued to drop in August, recording a 1.0% month-over-month decline that resulted in an index reading of 88.4, according to data released Wednesday by the National Association of Realtors. In July, the index fell 1.0% after recording an 8% drop in June. The Pending Home Sales Index has declined for

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Opinion: Forgiving student loan debt boosts homeownership

Last month, President Joe Biden announced the federal government would forgive hundreds of billions of dollars of student loans. I believe this initiative is one of the most consequential administrative actions for housing in a generation. It could make homeownership accessible for millions of new homebuyers. The student loan debt forgiveness decision has

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Non-QM lender Angel Oak Mortgage Solutions cuts 20% of staff

Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility. The company issued pink slips to 75 employees last week, about 20% of its workforce, citing the “current economic environment that has challenged the entire

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Mortgage demand falters as rates inch past 7%

Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% for the week ending September 23, compared to the previous week. It was also down 66%

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MAXEX seeks to capitalize on expanding non-QM market

MAXEX, a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. The increasing demand for non-QM loans (more broadly defined as nonprime) has run up against market volatility, as mortgage rates have doubled

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FHFA OIG addresses executive compensation controversy

The Federal Housing Finance Agency (FHFA) Office of the Inspector General on Wednesday said the agency has not adequately defined the rules and scope of its executive compensation practices. The OIG concluded that the agency should update its rules and procedures and determine if it has enough staff to vet

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Jim Jumpe to speak at HW Annual Oct. 3

We’re excited to have Jim Jumpe, senior vice president and chief marketing officer at Arch MI, as a part of our speaker lineup for the Marketing Leaders Success Summit at HousingWire Annual. Jumpe will be a panelist on the “1+1=3, The Marketing Strategy of M&A” panel, Oct. 3. He will

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