Housing Starts End 2024 on an Up Note
January 17 2025 | |
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable lots.
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Builder Confidence Edges Up Even as Market Risk Concerns Rise
January 16 2025 | |
“Builders are facing continued challenges for housing demand in the near-term, with mortgage rates up from near 6.1% in late September to above 6.9% today,” said NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan. “Land is expensive and financing for private builders remains costly. However, there is hope that policymakers are taking the impact of regulatory hurdles seriously and will make improvements in 2025.”
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Mortgage Applications Increase in Latest MBA Weekly Survey
January 15 2025 | |
“Bond yields in the U.S. and abroad continued to move higher in response to concerns over a sticky inflation outlook and still too-high budget deficits, which pushed mortgage rates higher for the fifth consecutive week. The 30-year fixed rate is now at 7.09 percent – its highest level since May 2024,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
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Rocket Companies Unifies Under the 'Rocket' Brand with New Visual Identity
January 14 2025 | |
Rocket is rebranding key businesses as part of its evolution. Amrock, the national title producer, settlement provider and appraisal management company, will be changed to Rocket Close. Additionally, Amrock Title Insurance Company has relaunched as Rocket Title Insurance Company. Rocket Pro TPO has been renamed Rocket Pro, effective immediately, reflecting its commitment to supporting mortgage professionals nationwide.
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CertifID Acquires Paymints.io
January 14 2025 | |
"The combination of CertifID and Paymints.io will be a game changer for us," said Yvonne Deardorff, President & CEO of Lakeside Title Company. "We successfully use both technologies today, and we are looking forward to now looking at them as one complete solution. The ability to verify, pay, insure, and mitigate risks from a single vendor further cements CertifID as our most trusted partner to keep our customers' funds safe."
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ALTA Foundation Donates $10K Toward Los Angeles Fire Relief
January 13 2025 | |
The American Land Title Association Good Deeds Foundation, the registered 501(c)(3) charitable organization founded by ALTA, the national trade association of the land title insurance industry, has awarded a $10,000 emergency grant to the Los Angeles Fire Department Foundation to help support local firefighters during the massive fires across Los Angeles County that started on Jan. 7, 2025.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
January 08 2025 | |
“Applications decreased last week as rising mortgage rates continued to discourage buyers from entering the market and put a damper on purchase activity. The 30-year fixed rate increased for the fourth consecutive week, reaching 6.99 percent – the highest rate since July 2024,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
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Stewart Announces the Promotion of Chief Underwriting Counsel
January 07 2025 | |
“World class underwriting is a cornerstone of Stewart’s success, and the role of Chief Underwriting Counsel is crucial in fulfilling our mission to provide thoughtful, creative and practical underwriting to support our direct operations and agents as deal facilitators,” said Elizabeth Giddens, Chief Legal Officer. “Wilhelmina has demonstrated proven success as head of underwriting for Stewart’s National Commercial Services division, and we look forward to seeing her thrive in this new role."
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AmTrust Title Appoints Steven Presley as Florida State Counsel
January 07 2025 | |
AmTrust Title Insurance Company (“AmTrust Title”), a wholly owned subsidiary of AmTrust Financial Services, Inc., today announced the appointment of Steven Presley, Esq., as Florida State Counsel to support AmTrust Title’s continued expansion in the Florida market. Steven joins AmTrust Title with over a decade of experience in the title and real estate law industries and a proven track record in underwriting, risk assessment, and title insurance education.
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Old Republic Announces Formation of a New Cyber and Technology Company
January 06 2025 | |
Old Republic International Corporation today announced that it is forming a new underwriting subsidiary to provide Cyber and Technology Errors and Omission (E&O) insurance products. The new company, Old Republic Cyber, Inc., will focus on providing specialized Cyber- and Technology-related coverage and will be led by CJ Pruzinsky as President and Kevin McGowanas Executive Vice President and Chief Underwriting Officer.
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NAHB, 15 State Attorneys General File Suit Against HUD's Energy Codes Mandate
January 02 2025 | |
The National Association of Home Builders and 15 state attorneys general have filed a complaint in the Eastern District of Texas seeking to stop the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture from adopting the 2021 International Energy Conservation Code (IECC) and ASHRAE 90.1-2019 as the minimum energy-efficiency standards for certain single-family and multifamily housing programs.
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MBA Statement on FHFA and Treasury Amendments to the Preferred Stock Purchase Agreements
January 02 2025 | |
“MBA believes strongly that any efforts to remove Fannie Mae and Freddie Mac (the GSEs) from their federal government conservatorships must fully consider the impact on single-family and multifamily housing markets and overall financial stability. This includes the critical move that Congress establishes an explicit federal backstop for mortgage-backed securities."
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Mortgage Applications Decreased Over a Two-Week Period in Latest MBA Weekly Survey
January 02 2025 | |
“Mortgage rates moved higher through the last full week of 2024, reaching almost 7 percent for 30-year fixed-rate loans,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “Not surprisingly, this increase in rates – at a time when housing activity typically grinds to a halt – resulted in declines in both refinance and purchase applications.”
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