2018 review
From a housing market in turmoil and the technology to save it to the myriad new faces in both the industry and Washington, here's a look back at some of the biggest and most read mortgage and housing stories of 2018.
Ripple effects: Shifting demand creates mortgage winners and losers
As the housing market enters a new era, shifts in the demand for mortgages will ultimately dictate the direction of technology, staffing and GSE reform.
New MBA CEO Robert Broeksmit is ready to be the lender's advocate
As the mortgage industry confronts tight margins, shifting market share and regulatory uncertainty, a new leader emerges at the Mortgage Bankers Association.
Closing the digital mortgage gap
Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?
Housing bubble or not, the real estate market is in trouble
Despite soaring home prices, other factors needed to inflate a housing bubble are absent from the real estate market. But experts warn falling home values and rising mortgage defaults are inevitable, even if conditions naturally cool off.
Chase Bank hit with downgrade over jumbo mortgage underwriting, fintech gaps
Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.
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Why it will be hard to find new CEOs for Fannie and Freddie
The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.
Wells Fargo branch
Wells Fargo layoffs begin with 1,000 mortgage, tech jobs
Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.
10 mortgage reforms in the Senate reg relief bill
From HMDA and TRID to restoring the Protecting Tenants at Foreclosure Act, here's a look at 10 mortgage and housing provisions in the Senate's regulatory reform bill.
CFPB Director Kathy Kraninger
‘I am very excited to be here’: Kraninger signals new tone atop CFPB
The newly sworn-in director’s first public remarks seemed to contrast with the approach of her predecessor, Mick Mulvaney, who at times questioned the role of the agency.
Wholesaler's pitch to brokers: The best mortgage isn't always the cheapest
United Wholesale Mortgage has set out to be an ally to mortgage brokers in unprecedented ways as CEO Mat Ishbia works to evolve the channel's transactional nature into a more relationship-driven dynamic.
What 10 year Treasury yield at 3% means for average mortgage rates
If 10-year Treasury yields remain at or above 3%, the average 30-year fixed-rate mortgage could hit 5% sooner than previously expected.
Homeownership gap
FHA lenders warming up to reverse mortgages for new home purchases
Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home.
Zillow Group
Zillow enters the mortgage business by purchasing a lender
Zillow Group is moving from being a mortgage marketer to originating loans with its acquisition of Mortgage Lenders of America, in an effort to support its home-flipping business.
Anthony Hseih
'Just a matter of time' before Amazon, Google enter mortgages: loanDepot CEO
LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders — strong new competitors are coming into this market, so they need to expand their offerings.
Cash-strapped mortgage banks just can't catch a break
If falling volume and rising costs weren't bad enough for nonbank mortgage lenders, an extended run of tight gain-on-sale margins is further eating into their profits.