Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Equity 369

Equity Purchase and sale agreement Marketing Lending 369

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

Equity 377

Equity Purchase and sale agreement Loans Mortgages 377

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Loans 413

Loans FHA loan Equity Mortgages 413

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product.

Development 359

Development Loans Banks Mortgages 359

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S.

Equity 376

Equity Loans Lending Banks 376

Housing Wire

JANUARY 11, 2022

The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. Also, Redfin hopes it will let the company reduce investments in lending software by using the Bay Equity system.

Equity 449

Equity Purchase and sale agreement Loan Officer Lending 449

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 348

Equity Marketing Debt-to-income ratio Lending 348

Housing Wire

APRIL 4, 2022

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. FHA’s 40-year loan modification option has been in the works for quite some time. Comments from the mortgage industry are due by May 31.

Loans 516

Loans FHA loan Mortgages Real-estate owned 516

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. The Loan Store, Inc. The TLS HELOC has a fully online application process, underwriting system, and valuation model.

Loans 318

Loans Pre-approval Equity Finance 318

Housing Wire

MAY 30, 2024

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday.

Bankruptcy 330

Bankruptcy Equity Loans Development 330

Housing Wire

JANUARY 8, 2024

However, today’s companies are finding alternative ways to determine an appropriate loan for a consumer. The formation of a monopoly in the mortgage industry would slow the introduction of new solutions that would improve access to credit and customer experience. This is where regulatory discipline is needed.

Equity 411

Equity Lending Banks Technology 411

Housing Wire

MAY 23, 2022

HousingWire recently spoke with Barry Coffin, managing director of home equity title/close at ServiceLink , about the ways lenders can capitalize on these trends by revving up their home equity solutions. Barry Coffin : It’s a good time to prioritize home equity transactions for a couple of reasons.

Equity 311

Equity Title Technology Loans 311

Housing Wire

MAY 23, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. million HECM loans between Oct. A study commissioned by the U.S. 1, 1999, and Sept. 30, 2020.

Equity 344

Equity Loans Principal Mortgages 344

Housing Wire

MAY 20, 2024

There are no monthly payments, but interest and fees are added to the loan balance each month,” she said. “So, So, in contrast to a forward mortgage, the loan balance with a reverse mortgage goes up, not down, over time. So, as the loan balance increases, your home equity decreases.”

Mortgages 329

Mortgages Equity Loans Closing costs 329

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

Equity 306

Equity Banks Investor Residential 306

Housing Wire

SEPTEMBER 7, 2021

The Federal Housing Finance Agency (FHFA) will require the government sponsored enterprises to submit annual plans to advance equity in housing finance for the next three years. In August, the Department of Housing and Urban Development announced they would team up to coordinate on fair housing investigations.

Equity 360

Equity Finance Lending Development 360

Housing Wire

MAY 23, 2024

A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and avoid the possibility of foreclosure. The need to repay the loan is listed as a con in the column, despite the fact that it is a loan and not a grant.

Mortgages 291

Mortgages Equity Loans Finance 291

Housing Wire

APRIL 29, 2024

The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A A reverse mortgage is a type of home equity loan extended, in most cases, to those who are 62 years of age or older,” the announcement stated. “It

Mortgages 364

Mortgages Equity Loans Closing 364

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. Curtis Mangus.

Loans 438

Loans Closing Mortgages Equity 438

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week.

Lending 338

Lending Equity Technology Banks 338

Housing Wire

JUNE 8, 2022

“We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. The more than six-month delay, FHFA officials said, was due to the development of the pilot transparency program, and the time it took to scrub proprietary information from the plans.

Equity 302

Equity Finance Loans Development 302

Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). Department of Veterans Affairs (VA) loans. Following an announcement that the U.S.

VA loan 357

VA loan Principal Loans Residential 357

Housing Wire

APRIL 14, 2022

Federal agencies committed to further racial equity through new equity action plans, but for housing, the action plan is light on new action. Biden made racial equity a formal administration priority the same day he took office. HUD’s equity action plan does not include any new funding for the efforts, however.

Equity 370

Equity Finance Technology Title 370

Housing Wire

APRIL 22, 2024

Even homeowners who have paid off their mortgage may be finding that their available equity is not enough to downsize, according to a story published Saturday by The New York Times. The organization “bases its calculations on older homeowners tapping their home equity with reverse mortgages,” the Times explained.

Equity 381

Equity Mortgages Development Loans 381

Housing Wire

FEBRUARY 7, 2024

The Housing and Economic Recovery Act of 2008 (HERA) “codified housing goals and added a Duty to Serve, which gives FHFA the tools to ensure that Fannie and Freddie stay focused on affordable housing and serving the housing needs of low- and moderate-income families instead of using a federal backstop to just cherry-pick the most lucrative loans.”

Land lease 383

Land lease Land Lending Equity 383

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. It remains unclear when the FHA plans to add the 40-year loan modification option to its servicing and loss mitigation handbook.

Loans 412

Loans Industrial Mortgages Real-estate owned 412

Housing Wire

MAY 24, 2024

Department of Housing and Urban Development (HUD) announced this week that it is extending a 90-day foreclosure moratorium for all Federal Housing Administration (FHA)-insured mortgages to the federal disaster area in Texas stemming from severe weather, tornadoes and flooding that hit several counties beginning on April 26.

Loans 310

Loans Equity Mortgages Development 310

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. The original effective date as announced last fall remains in effect, which will be April 29, 2024.

Closing costs 406

Closing costs Development Equity Closing 406

Housing Wire

MAY 2, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”

Mortgages 349

Mortgages Equity Lending Loans 349

Housing Wire

JULY 14, 2022

As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. Nominations for HousingWire’s Vanguards are now open through Friday, July 22, 2022.

Equity 320

Equity Mortgages Lending As-is 320

Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. The report assessed 533,894 HECM loans originated and terminated during the 20-year study period.

Loans 305

Loans Equity Principal Development 305

Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) announced on Thursday the awarding of $40 million to expand housing counseling services to a greater number of vulnerable communities. The White House and the U.S. The services will be available for current homeowners, prospective homebuyers and renters alike.

Equity 399

Equity Loans Mortgages Development 399

Housing Wire

OCTOBER 2, 2020

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. The post Caliber Home Loans plans $2B-plus IPO appeared first on HousingWire. As of Sept.

Loans 321

Loans Lending Mortgages Equity 321

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 413

Finance Seller concession Loan Officer Loans 413

Housing Wire

AUGUST 31, 2022

Fraud risk is growing as the market shifts away from traditionally low-risk refinances and moves toward a purchase and home equity driven market. FraudGuard’s latest release includes analytics that simplify the review process by streamlining the data collected from the loan application. Continuous Investment in Enhancements.

Loans 260

Loans Equity Residential Industrial 260

Housing Wire

MAY 28, 2024

When announcing the rebranding initiative at the beginning of April, company leaders said they arrived at the new name after what they called “a rigorous research and brand strategy development analysis.” Starting that day, the company will begin trading on the New York Stock Exchange (NYSE) under its new ticker symbol, “ONIT.”

Branding 339

Branding Mortgages Equity Loans 339

Housing Wire

MARCH 27, 2024

Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors. Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors. Ibis is currently focused on providing software solutions to U.S.

Equity 390

Equity Banks Industrial Mortgages 390