FHA updates loss-mitigation waterfall in new mortgage servicing guidance

The Federal Housing Administration (FHA) this week published Mortgagee Letter (ML) 2025-06, which codifies “updates to FHA’s permanent loss mitigation options based on learnings from its temporary COVID-19 policies and feedback received on the draft policies” from a proposal published this past Nove

What previous California wildfires can teach us about rebuilding LA

The wildfires ripping through Los Angeles are on pace to be the most destructive in U.S. history, as one estimate concludes that property damage from the Palisades and Eaton fires could exceed $45 billion.When they’re finally extinguished, the city and its residents will have to sift through the dev

California Fire Chief Uses Milk and Beer To Save 2 Homes in Last-Ditch Effort After Finding No Water in Hose

Orange County Fire Authority; 60 Minutes/YouTubeA resourceful California fire chief used milk and “a couple of beers” to save two homes — including his brother’s — as his childhood neighborhood turned into “a total nightmare” during the deadly wildfires.Orange County Fire Authority Chief Brian Fenne

WaFd Bank exits home mortgage lending, says model is ‘unsustainable’

Seattle-based WaFd Bank, which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. WaFd president and CEO Brent Beardall said in a LinkedIn post that the move will involve layoffs for about 8% of the