Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. Purchase loans are simply harder to market and convert, harder to process, and they generate lower revenues and higher expenses.”.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 432

Mortgages Principal Loans Loan Officer 432

Housing Wire

DECEMBER 13, 2023

It also has been a brutal year for the secondary market that creates liquidity for mortgage lenders as greatly reduced mortgage originations, liquidity challenges and interest rate volatility have played havoc in the whole-loan trading as well as the private-label and agency securitization channels.

Mortgages 409

Mortgages Marketing Banks Investor 409

Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024. As widely anticipated, central bankers left the benchmark interest rate steady at 5.25% to 5.5%.

Industrial 441

Industrial Mortgages Banks Principal 441

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 397

Bankruptcy Banks Pre-approval Principal 397

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 440

Mortgages Seller concession Principal Loans 440

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 441

Principal Loans Investor Industrial 441

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said.

Industrial 397

Industrial Mortgages Principal Loans 397

Housing Wire

MARCH 20, 2024

I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. Tane Cabe “C2 is a good place for me to hang my license,” he said.

Development 432

Development Industrial Mortgages Loans 432

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 397

Sales Principal Loans Banks 397

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 421

Principal Loans Banks Mortgages 421

Housing Wire

FEBRUARY 15, 2023

The TrustEngine Borrower Intelligence Platform, as the platform is called, wraps around the entire mortgage tech stack to drive origination volume by “identifying loan opportunities and engagement strategies tailored to each borrower’s needs,” the companies said in a statement Wednesday.

Sales 384

Sales Mortgages Loans Loan Officer 384

Housing Wire

APRIL 26, 2023

million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Mr. Cooper announced it agreed to acquire Rushmore Loan Management Services ‘ s special servicing platform, which has $37 billion in sub-servicing contracts. Cooper had 4.1

Principal 384

Principal Banks Equity Loans 384

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 370

Mortgages Banks Marketing Residential 370

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

Loans 410

Loans Marketing Due diligence Residential 410

Housing Wire

FEBRUARY 16, 2023

LauraMac, a provider of mortgage loan review SaaS technology, has appointed Rick Seehausen as its chief strategy officer. I look forward to working closely with Rick to leverage the success of our Loan Review System, prepare the launch of our Loan Acquisition System, and guide us in the development of new product lines.”

Loans 383

Loans Principal Technology Development 383

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Since becoming a CDFI in 2018, Change has funded more than $25 billion in loans to more than 75,000 families, according to the lender.

Lending 410

Lending Principal Finance Loans 410

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The government-sponsored enterprise will start accepting such loans immediately. The loan must be secured by a principal residence. Fannie Mae did not respond to a request to comment.

Principal 496

Principal Loans Banks Closing costs 496

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. About half of its loans were originated in California. While other lenders are experiencing volume reductions , NDM is growing,” she said.

Sales 431

Sales Mortgages Principal Equity 431

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 432

Lending Bankruptcy Mortgages Principal 432

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Loan production Spector told analysts that the company’s multichannel approach to production enables consistent access to the origination market in the current high-rate environment. Pennymac’s total loan acquisitions and originations reached $25.1 30, up 2% from June 30.

Fixed-rate mortgage 421

Fixed-rate mortgage Principal Banks Loans 421

Housing Wire

FEBRUARY 2, 2023

Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018.

Marketing 369

Marketing Banks Principal Loans 369

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

Banks 384

Banks Bankruptcy Loans Investor 384

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Kim: You also do a lot of non-QM loans. Cohen funded $751.4 It’s a two-sided market here.

Mortgages 384

Mortgages Marketing Loans Banks 384

Housing Wire

FEBRUARY 14, 2024

Additionally, modern mortgage servicing software and Application Programming Interfaces (APIs) automate investor reporting and compliance and create a more efficient workflow, effectively allowing servicers to service loans in-house to maximize their advantages. According to J.D.

Investor 408

Investor Loans Mortgages Principal 408

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well.

Mortgages 441

Mortgages Banks Loans Industrial 441

Housing Wire

OCTOBER 26, 2023

New York-based Rithm Capital’s profits declined in the third quarter of 2023, when the real estate investment trust got involved in a dispute for Sculptor Capital Management and announced the acquisition of Specialized Loan Servicing. ” Expectations for servicing Loan servicing contributed $444.5 million in Q2. .”

Principal 410

Principal Loans Mortgages Banks 410

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 508

Banks Lending Loans Principal 508

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. The annual investment volume in the U.S.

Equity 441

Equity Finance Purchase and sale agreement Investor 441

Housing Wire

AUGUST 9, 2022

A closer look at WMC’s books, however, shows that as of June 30 its residential whole loan portfolio, nearly all of which is comprised of non-QM loans, was underwater by some $44 million. That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date.

Marketing 397

Marketing Bankruptcy Loans Principal 397

Housing Wire

FEBRUARY 16, 2022

Incenter completed a dozen bulk MSR sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 This is nearly three times the monthly average witnessed in 2021,” he added. And, so far, it is.”. Piercy said Incenter earlier in February put out to bid an $11.5

Marketing 384

Marketing Principal Banks Loans 384

Realty Biz

DECEMBER 22, 2023

has just released its EMI Calculator, an efficient solution to simplify loan repayment planning. This tool benefits individuals and financial professionals, providing a simple method to compute monthly loan repayments. Prepayment Analysis : EMI calculators allow borrowers to evaluate the impact of prepayments on their loans.

Loans 89

Loans Principal Finance Banks 89

Housing Wire

OCTOBER 8, 2021

This year it is on track to securitize loan volume approaching or even exceeding $100 billion, and driving a healthy share of that secondary market business is J.P. Morgan , the investment bank side of New York-based banking holding company J.P. Morgan Chase & Co. Morgan, through its private label conduit, J.P.

Principal 381

Principal Banks Loans Residential 381

Housing Wire

FEBRUARY 2, 2024

Loan production was $99.4 billion in unpaid principal balance (UPB) in 2023, down 9% year over year. Pennymac’s total loan acquisitions and originations reached $26.7 However, volume in the loan origination market will remain seasonally low in the first quarter of 2024. of the loan servicing market, 3.6%

Technology 410

Technology Loans Principal Mortgages 410

Housing Wire

DECEMBER 15, 2021

Loan originations in dollars increased by more than 25% since the third quarter of 2020, and 44% of loan clients are in Latin America. Loan originations in dollars increased by more than 25% since the third quarter of 2020, and 44% of loan clients are in Latin America. It claims that the startup has over $1.7

Mortgages 421

Mortgages Lending Banks Investor 421

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. Cooper had 4.3

Purchase and sale agreement 410

Purchase and sale agreement Equity Principal Banks 410

Housing Wire

JANUARY 4, 2024

Endorsement volume falls slightly While not a pronounced drop, HECM endorsements fell 3% to end the month with 2,190 loans, but that general drop came with a few notable exceptions according to RMI. In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume.

Mortgages 450

Mortgages Bankruptcy Principal Finance 450