Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck. During its second-quarter earnings presentation last week, FOA President Kristen Sieffert offered new details about…
Continue reading →U.S. workers are feeling more confident about their ability to meet retirement savings goals as inflation has weakened, according to a new consumer survey conducted by Charles Schwab. “[A]nxiety around inflation and market volatility has come down since last year,” according to the online survey of 1,000 Americans who hold…
Continue reading →Wednesday’s Consumer Price Index (CPI) inflation report for July came in as expected — and it gives a clear pathway for the Federal Reserve to cut benchmark rates for the first time since starting its aggressive rate-hike cycle in early 2022. The history of global pandemics shows inflation rising at…
Continue reading →Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse’s U.S. servicing business. They did not provide information related to the buyers’ names or the financial details. In the U.S., Credit Suisse owns Select Portfolio Servicing (SPS). According to Inside Mortgage Finance (IMF),…
Continue reading →Mortgage rates continued to recede during the past week, with the market anticipating a Federal Reserve rate cut next month and the U.S. economy showing signs of weakening. At HousingWire‘s Mortgage Rates Center, the 30-year conforming loan rate averaged 6.66% on Wednesday. That was 11 basis points (bps) lower than…
Continue reading →