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White House expects reverse mortgages to continue producing government receipts

Following last month’s release of the so-called “skinny budget” from the White House, the Office of Management and Budget (OMB) has released a 1,200-plus page appendix for the proposal. It includes projections related to the performance of the Home Equity Conversion Mortgage (HECM) portion of the Mutual Mortgage Insurance (MMI) Fund. According to the data — detailing the U.S. Department of...

Home-price growth at decade low, Florida markets lead declines

Home-price growth in the U.S. fell to its lowest rate in more than a decade this April, according to the latest data from Cotality. Weighing on the market were continued concerns about the economy, including job stability, inflation and possible tariff impacts — all contributing to sluggish buyer demand. “Housing market headwinds continue to challenge homebuying demand, but improved for-sale...

2025 Hurricane Season Puts 6.4 Million U.S. Homes at Risk of Storm Surge

Hurricane Risk, Insurance Costs Stall U.S. Coastal Home Sales in 2025 Now that the 2025 hurricane season has officially begun, according to NOAA, a new and growing concern is emerging for homeowners along the U.S. coast -- especially in an already tight housing market with historically low inventory. The rising cost and shrinking availability of property insurance are starting to impact home values and...

HUD walks back prior default guidance as too ‘burdensome’ for mortgage servicers

In a move that’s designed to simplify prior policy, the Federal Housing Administration (FHA) on Tuesday published a new Mortgagee Letter (ML) that targets borrower default engagement practices that were published in the waning days of the Biden administration. ML 2025-14 makes changes to final guidance first floated last summer to open up communications between mortgage lenders and defaulted borrowers...

Two maps that show where the housing market is struggling

Industry professionals were full of optimism heading into the spring that the housing market could pick up after a sluggish start to 2025. But heading into the summer, that optimism has largely faded. Existing-home sales are hovering around 4 million and many markets that are typically fruitful for homebuilders have stalled. In its midyear housing market report, John Burns Research & Consulting...

Hall Willkie steps down as president of Brown Harris Stevens

Brown Harris Stevens will soon be without its longtime president, Hall Willkie.  On Monday, the real estate firm announced that Willkie will be stepping down as New York City brokerage president, effective July 1. But Willkie’s journey with the firm is not over as he will serve as a full-time consultant. His consulting contract is for a six-year term. Willkie, who has been affiliated with Brown...

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