April 2025

Mortgage rate volatility rises amid trade war, keeping LOs busy 

Illustration of a mortgage loan officer struggling with rate volatility. Image created with ChatGPT 4o While the trade war initiated last week by the Trump administration has brought volatility to mortgage rates, some loan officers have seen an uptick in home loan applications as some borrowers are “staying on course.”  “There’s been a tremendous amount of volatility. I don’t think I’ve...

Some Social Security recipients were falsely told their benefits had stopped, senators say

Last week, beneficiaries of the Social Security Administration (SSA)’s Supplemental Security Income (SSI) program were erroneously told that they were no longer receiving benefits, and could no longer access account history through the program’s online portal. This is according to reporting at CBS News, as well as a letter from a coalition of Democratic senators to Lee Dudek, acting commissioner of...

Fairway announces ‘hybrid e-closings’ for reverse mortgages

Despite long maintaining a reputation as being behind the times of technology development — whether that is due to a perception of being slow-to-adopt emerging technologies, or due to regulatory compliance concerns — one top 10 reverse mortgage lender has now rolled out hybrid e-closing processes for its Home Equity Conversion Mortgage (HECM) business. Fairway Independent Mortgage Corp. announced...

Trump slaps China with an additional 50% tariff, and homebuilder stocks tank

President Donald Trump’s trade war against China is escalating. The White House confirmed Tuesday that Trump is placing a 50% tariff on China that is in addition to previously implemented or announced levies. Trump hit China with a 20% tariff at the beginning of his term, and his “Liberation Day” tariff rollout included another 34% on China. The new tariff brings the cumulative total on China...

Bipartisan duo begin public listening process for reauthorizing HOME, CDBG programs

A bipartisan duo of members in the House of Representatives who largely operate with very different political positions have come together to begin what they’re calling an “initiative to gather public input” on the potential reauthorization of two federal housing programs. Reps. Mike Flood (R-Neb.) and Emmanuel Cleaver (D-Mo.), the chairman and ranking members, respectively of the House Financial...

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