Jessica Guerin

Jessica Guerin

Jessica Guerin is an editor at HousingWire covering reverse mortgages and the housing wealth space. She is a graduate of Boston University and has a master’s degree from Northwestern’s Medill School of Journalism. She worked previously as the editor-in-chief of The Reverse Review magazine, which was recently acquired by HousingWire.

ARTICLES

  • Housing discrimination lawsuit against Bank of America gets green light

    Judge denies motion to dismiss
    A federal judge in Maryland denied a motion Thursday to dismiss a lawsuit brought against Bank of America and Safeguard Properties Management by the National Fair Housing Alliance, 19 fair housing organizations and two homeowners for alleged fair housing violations. According to the judge, the facts presented allow for a “reasonable inference that the defendants violated anti-discrimination provisions of the Fair Housing Act.”
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  • Liberty Home Equity unveils proprietary reverse mortgage

    Becomes the 6th lender to bring non-agency offering to market
    Five months ago, word circulated that Liberty Home Equity was on the brink of releasing a proprietary reverse mortgage product, looking to take part in the explosive growth this market has seen in the last year. And now the talk appears to be true, as the reverse mortgage division of Ocwen Financial announced the launch of EquityIQ on Friday, making it the sixth HECM lender to bring a non-agency reverse mortgage to market in the last 18 months.
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  • Bank of America claims Ditech's sale of RMS "threatens to abandon" elderly reverse mortgage borrowers

    Files official objection to the terms of the deal court
    Ditech Holdings announced last month that it had entered into an agreement to sell its reverse mortgage business, but now one of its big-named clients is formally objecting to the sale. Bank of America, which has a reverse mortgage servicing agreement with Ditech subsidiary Reverse Mortgage Solutions, filed a motion in court Thursday objecting to the deal as it currently stands, claiming that it “threatens to abandon the thousands of elderly borrowers” whose reverse mortgages are being serviced by RMS.
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  • Here's why a cut in FHA's insurance premiums won't boost its market share

    Capital Economics calls the step "too small to halt the downward trend"
    Earlier this month, the U.S. House of Representatives passed a bill that slashed the cost of upfront mortgage insurance for first-time homebuyers who underwent counseling before taking an FHA loan. But while the push for greater financial literacy is a worthy cause, it’s unlikely to boost FHA’s share of the mortgage market, Capital Economics said in a recent report, calling the premium cuts “too small to halt the downward trend in the FHA market share.”
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  • U.S. homeowners have never stayed put for this long

    Average tenure reaches record high
    American homeowners are staying put longer than ever before, with the average tenure reaching a record high of 8.09 years in the second quarter of 2019. This stands in stark contrast to the years leading up to the recession, as tenure from 2001-2007 averaged just 4.21 years. Here's why homeowners may be holding off on a move, and what it might mean for the market.
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  • Average home seller saw 34% return on their investment in Q2

    Pocketed $67,500 from their home's sale
    Homes may be appreciating more slowly than before, but homeowners are still rolling in the equity, realizing significant returns when they opt to sell. On average, home sellers saw a 33.9% return on their investment in the second quarter of 2010. That translates to a $67,500 profit on the sale of their home, according to the latest report from ATTOM Data Solutions.
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  • Median home price climbs to all-time high

    Average single-family residence sold for $266,000 in Q2
    The median price of single-family homes in the U.S. has climbed to a record high, reaching $266,000 in the second quarter. That’s up 10.8% from the previous quarter and up 6.4% from a year ago, according to the latest from ATTOM Data Solutions.
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  • Homeowners are taking on fewer house projects, but they're spending more

    Here's where they're spending the most, and why
    The volume of home maintenance and remodeling projects is declining, while spend for both is increasing, and this all signals the likelihood of a continued slowdown for the housing market. According to the latest Housing Health Report from BuildFax, much of the spend is concentrated in states where affordable housing is bringing an influx of residents.
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  • Quarter of homeowners can't define a HELOC

    Nearly half plan to renovate, but most won't use their home equity to finance it
    Nearly half of homeowners say they have plans to renovate their home in the next two years, and a third of those intend to drop $50,000 to do it. This is according to a recent survey from TD Bank, which highlights a major opportunity for lenders: A sizable number of homeowners can't define a HELOC.
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  • Quicken Loans logs best quarter in company history

    Originated record-breaking $32 billion in mortgages in Q2
    The mortgage business has been a bit rocky in recent years, but that doesn’t appear to be holding back Quicken Loans. The Detroit-based lender logged its best quarter ever, raking in $32 billion in mortgage originations in the second quarter of 2019 – the most in its 34-year history.
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