HousingWireHousingWire The report on the Home Equity Conversion Mortgage (HECM) book of business inside the Mutual Mortgage Insurance (MMI) Fund served as another positive development for the program. The estimated economic net worth of the HECM MMI stood at $17.4 million, up from $15.4 million last year, according to the…
Continue reading →HousingWireHousingWire Mortgage rates haven’t moved much in the past week, but Wednesday’s meeting of the Federal Reserve should give some clearer insights into where the market is headed at the end of the year. The Federal Open Market Committee (FOMC) is scheduled to announce its decision on the federal funds…
Continue reading →HousingWireHousingWire It’s hard to imagine something more disruptive to a housing market than a hurricane. That’s what the Tampa Bay metro area was faced with in October with Hurricane Milton, which made landfall in the area as a Category 3 storm. Milton set a record for tornado warnings with 129,…
Continue reading →HousingWireHousingWire The reverse mortgage division of Fairway Independent Mortgage Corp. has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, real estate, homebuilding and title insurance industries. Pete Stebbins, 90, initially joined Fairway in 2012 and currently…
Continue reading →HousingWireHousingWire The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy (PACE) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. The rule goes into…
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