Seattle-based WaFd Bank, which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. WaFd president and CEO Brent Beardall said in a LinkedIn post that the move will involve layoffs for about 8% of the company’s employees and called it…
"January 2025" Archives
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The wildfires ripping through Los Angeles are on pace to be the most destructive in U.S. history, as one estimate concludes that property damage from the Palisades and Eaton fires could exceed $45 billion. When they’re finally extinguished, the city and its residents will have to sift through the devastation and answer questions about how…
The Federal Housing Administration (FHA) this week published Mortgagee Letter (ML) 2025-06, which codifies “updates to FHA’s permanent loss mitigation options based on learnings from its temporary COVID-19 policies and feedback received on the draft policies” from a proposal published this past November. Published on Thursday, the letter extends existing COVID-19 recovery options to February…
Looking back at 2024, housing completions appear to be a bright spot for builders. According to data released Friday by the U.S. Census Bureau, an estimated 1.628 million housing units were completed in 2024, up 12.4% from 2023. “This means more homes on the market and more options for home buyers, which is good news…