"January 14, 2025" Archives

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HUD settles with PHH over alleged mortgage payment fees that violated FHA rules

The U.S. Department of Housing and Urban Development (HUD) on Monday announced that it has reached a settlement with PHH Mortgage Corp., a division of the Onity Group, over the alleged imposition of fees for borrowers making payments on their mortgages, which is in violation of Federal Housing Administration (FHA) requirements. Describing the settlement as…

More home sellers but fewer home sales

There were 45,000 new listings for single-family homes across the country this week, which is a big jump. That’s 12% more sellers than a year ago. This is the trend that will be the theme for 2025. It seems more sellers are coming out every week and that will keep inventory pushing upward. Mortgage rates…

How do you put a price on the wildfire damage in LA?

You’re bound to find variability in the total cost estimates related to the damage and destruction caused by the wildfires in Southern California, but some of the variations are exacerbated by what is included versus what is excluded in these estimates. According to CoreLogic, the total damage cost estimate for the Los Angeles wildfires as…

Fairway eyes reverse mortgage expansion in 2025

Fairway Independent Mortgage Corporation, a large mortgage lender and a top 10 lender in the reverse mortgage industry, will aim to expand its focus on its reverse mortgage arm in 2025 owing to the efforts of David Lazowski, the company’s new president of national recruiting and growth. Emboldened by its efforts in the purchase mortgage…

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