Americans are still drawn to major cities — despite rising living costs and urban congestion. U.S. News & World Report’s 2025 migration trends report shows the popularity of migration pathways such as New York City to Los Angeles, San Francisco to Austin, Texas, and Charlotte to Chicago — highlighting persistent interest in urban living, despite […]
Migration 2025: Where Americans are moving to — and why Read More »
Boston-based Hometap announced at the end of July that it has deployed more than $2 billion to 20,000-plus homeowners through its home equity investment (HEI) platform. The milestone comes less than 18 months after Hometap achieved $1 billion in home equity investments — a reflection of rising demand for alternative financing solutions. “This milestone reflects
Hometap says it’s only ‘scratched the surface’ with home equity investments Read More »
Finance of America (FOA) continued its recent streak of growth in the second quarter of 2025, funding $602 million in mortgages and producing $80 million in net income. FOA, one of the nation’s leading reverse mortgage lenders, exceeded the top end of its stated quarterly guidance for investors as the $602 million in volume from
Finance of America reports $80M profit, buys out Blackstone Read More »
Although there were flashes of potential volatility in the underlying bond market at times today, mortgage rates made it through unscathed. In other words, the volatility wasn’t sufficient to force the average lender to make mid-day changes to the rates they decided to offer this morning. Whereas yesterday saw an inconsequentially small increase of 0.01%
Mortgage Rates Steadily Holding Longer-Term Lows Read More »
The Mortgage Bankers Association announced Wednesday that its Residential Board of Governors has passed a resolution calling for two influential government-sponsored enterprises to end their requirements for tri-merged credit reports. The move follows FHFA’s decision to allow score competition without changing tri-merge rules, and MBA’s earlier plan to explore the viability of using a single
MBA urges GSEs to end costly tri-merge credit reports Read More »
The Department of Housing and Urban Development is auctioning off hundreds of millions of dollars in reverse mortgages on Wednesday in a bid to reduce risk to its insurance fund. Close to 1,600 home equity conversion mortgages (HECMs) secured by vacant properties are for sale, a notice published by the department on the Federal Register
HUD plans to sell close to 4,000 HECM loans Read More »
Home equity investment firm Unlock rolled out its home equity investment product in Hawaii, Idaho, Montana, New Hampshire and Wyoming, it announced this week. The Tempe, Arizona-based company had added four Central U.S. states earlier this year and now offers its product in 24 states, nearly half the country. “We’re now the first provider to
HEI platform Unlock expands into five new states Read More »
Although GAAP profitability continues to elude Opendoor Technologies, the company reported a positive result under one non-GAAP measure, its first in three years. The company, which facilitates cash offers for real estate buyers, cut its net loss from the previous year by 68%, but guidance going forward was less encouraging. These results were announced after
Opendoor reduces losses by 68% in the second quarter Read More »
Last month, Rhode Island enacted a new cybersecurity law significantly tightening cybersecurity requirements for nonbank financial institutions within the state, largely mirroring the framework established by the New York Department of Financial Services, or NYDFS. The law, effective immediately, applies to nonbank financial institutions licensed by the state’s Department of Business Regulation and signals a
Rhode Island writes its own cybersecurity rules for nonbanks Read More »
Mortgage applications rebounded this week as a drop in mortgage rates encouraged a bump in purchases and refinancing. In its weekly applications survey, the Mortgage Bankers Association reported a 3.1% increase in mortgage applications week-over-week. Both purchases and refinances saw upticks, with the refinance index up 5% from the week before and the seasonally adjusted
Rate drops offer reprieve for mortgage applications Read More »