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The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.

Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.

More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024.

Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.

Nationwide names new cyber lead and IBHS expands wildfire prepared program, plus more insurtech news.

The Chicago-based homeowners received a $41,000 check to pay down a portion of their existing mortgage, freeing them from the lock-in effect, DREAM product provider Takara said.

Equifax Inc. said the Iran war prompted more caution about the outlook for the rest of the year, even after a surge in mortgage applications drove first-quarter revenue growth to the fastest in more than four years.

March home sales increased 31.6% from February, the largest month-over-month jump since 37.4% in 2023, according to Remax's latest national housing report.

Pending sales of previously owned US homes climbed for a second month in March as a pickup in inventory helped mitigate higher borrowing costs.

First Mortgage Co., a long-defunct lender led by convicted executive Ron McCord, blamed the advisory firm for his failure to accept a $20 million offer.