Russell Vought, the director of the White House Office of Management and Budget (OMB), submitted the president’s fiscal year 2026 budget request to the chair of the Senate Appropriations Committee on Friday and is calling for $163 billion in non-defense spending cuts.
California-based real estate investment trust Redwood Trust is expanding its role as a liquidity provider in the jumbo mortgage market while policymakers continue to debate the future of Fannie Mae and Freddie Mac.
David Rands, chief financial officer at housing nonprofit Enterprise Community Partners, is taking on an expanded role as the organization’s chief operating officer and chief financial officer. The move was effective May 1.
The move comes as Enterprise combines its finance and operations functions following the recent departure of former COO Drew Warshaw.
After a drawn-out legal battle, Howard Hanna Real Estate Services has reached a settlement in the Gibson commission lawsuit.
A court notice filed on Friday stated that attorneys for Howard Hanna Holdings Inc. and the plaintiffs had reached “an agreement in principle” to settle all claims against the Pittsburgh-based brokerage.
Today’s jobs report showed positive growth, with 177,000 jobs added and an unemployment rate of 4.2%. Mortgage rates went up a tad today, but the spreads improved, which was a positive. As market drama calms down, we should see some improvement with the spreads, something I discussed in this recent episode of the HousingWire Daily podcast.
Financial literacy resource provider FirstHome IQ has announced a partnership with Crib Equity, a co-investment platform that aims to improve affordability by increasing the down payment and lowering debt.
Economists are bracing for the possibility of job losses as a result of economic uncertainty, but so far they’re not happening enough to offset job gains.
For decades, U.S. housing policy has quietly prioritized protecting existing homeowners over creating opportunities for future buyers. Zoning laws, tax incentives, mortgage structures, and even foreclosure practices have all contributed to driving up costs and limiting supply. Unaffordable by Design is a HousingWire exclusive dive into the roots of America’s housing affordability crisis — revealing how we got here and what it will take to chart a new path forward.
PennyMac Financial Services has raised $850 million in debt in an oversubscribed transaction on Thursday. The California-based mortgage lender and servicer initially planned to issue $650 million.
The economic headwinds facing real estate brokerages keep piling up, and it’s taking a toll on RE/MAX.
On its first-quarter 2025 earnings call Friday morning, the company disclosed year-over-year declines in revenue, U.S. agent count and operating cash flow, leading to a net income loss of $3.2 million.
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