Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower.

Principal 358

Principal Mortgages Loans Equity 358

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 360

Loans FHA loan Principal Marketing 360

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). we must use the nearest 1/8th percent (0.125%).

Principal 313

Principal Mortgages Loans Equity 313

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 255

Equity Principal Mortgages Loans 255

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. billion from the program.

Loans 316

Loans Equity Principal Development 316

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgages 426

Mortgages Principal Equity Loans 426

Housing Wire

SEPTEMBER 28, 2023

in June, according to CoreLogic ’s Loan Performance Insights. mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. percentage point to 2.7% Overall U.S.

Mortgages 388

Mortgages Staging Equity Principal 388

Housing Wire

APRIL 30, 2024

At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year. Chief financial officer Nick Santoro told analysts the company had a “strong momentum” on non-agency products and home equity. Earnings available for distribution reached $233.2

Mortgages 371

Mortgages Equity Principal Finance 371

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 346

Mortgages VA loan Principal Loans 346

Keeping Current Matters

DECEMBER 21, 2021

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb , your equity does too.

Equity 265

Equity Principal Loans Sales 265

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). to 358 loans).

Mortgages 353

Mortgages Loans Equity Principal 353

Housing Wire

APRIL 24, 2024

“PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release. The company’s loan production pretax income was $35.9

Lending 381

Lending Loans Principal Mortgages 381

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Equity 500

Equity Marketing Loans Bankruptcy 500

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. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 375

Mortgages Principal Loans Loan Officer 375

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. For real estate professionals, this option presents an opportunity to capture more sales.

Finance 428

Finance Seller concession Loan Officer Loans 428

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 420

Equity Lending Fixed-rate mortgage Loans 420

Housing Wire

MARCH 5, 2024

Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 In addition, NYCB is also responsible for a subservicing portfolio close to $300 billion in UPB, comprehending about 1 million loans, per KBW analysts’ estimate. to assist with capital generation.

Sales 347

Sales Banks Principal Loans 347

Housing Wire

OCTOBER 2, 2023

Purchase loans comprised about 82% of overall mortgage lending in 2023 and ICE forecasts purchase lending to continue to dominate the market through next year. Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Mortgages 391

Mortgages Equity Lending Principal 391

Housing Wire

MAY 9, 2024

Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% Equity takeout” cases — meaning endorsements tied to borrowers who had no prior interactions with the reverse mortgage industry — also grew by 9.4%, while HECM for Purchase (H4P) endorsements grew by 18.3% HECM endorsements Overall, case numbers issued grew by 8.2%

Mortgages 307

Mortgages Finance Equity Principal 307

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 322

Sales Mortgages Loans Loan Officer 322

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 397

Development Industrial Mortgages Loans 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. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% That was down 3.6%

Mortgages 352

Mortgages Seller concession Principal Loans 352

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 381

Equity Fixed-rate mortgage Principal Loans 381

Housing Wire

MAY 10, 2023

Cooper was interested in Ann Arbor, Michigan-based Home Point spread prior to the latter selling its wholesale origination business to The Loan Store on April 7 and were amplified after. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. Mr. Cooper had 4.1

Equity 371

Equity Principal Mortgages Loans 371

Housing Wire

JANUARY 30, 2024

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 338

Marketing Principal Banks Loans 338

Housing Wire

MAY 17, 2024

And I’d say, “Well, we work with home equity,” and they’d say, “Oh, reverse mortgages,” and then turn around and walk away. You have a unique opportunity to help the adviser bring home equity into a financial plan. It was a loan professional who came to me in my financial planning office.

Mortgages 341

Mortgages Industrial Equity Principal 341

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Cooper had 4.1 But the servicing portfolio is expected to grow.

Principal 343

Principal Banks Equity Loans 343

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 380

Equity Fixed-rate mortgage Principal Mortgages 380

Realty Biz

MAY 25, 2022

A Home Equity Loan and a Home Equity Line of Credit (HELOC) are not the same thing. In general, a home equity loan is a better financial tool for most consumers. Both are ways to finance large expenses by borrowing against the equity in your home minus closing costs. Credit cards are unsecured loans.

Equity 79

Equity Loans Principal Finance 79

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. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. . About half of its loans were originated in California.

Sales 348

Sales Mortgages Principal Equity 348

Housing Wire

FEBRUARY 3, 2022

MSRs gain value as interest rates rise, in part because upward-bound rates cause mortgage refinancing to ebb, which slows prepayment speeds on mortgages — increasing the effective long-term yield of the servicing rights tied to those loans.

Purchase and sale agreement 352

Purchase and sale agreement Marketing Equity Banks 352

Housing Wire

MARCH 6, 2023

of the median household income to make the monthly principal and interest payments on the average home purchase. Rising interest rates are the predominant driver as such rate increases have made it more expensive to access home equity and have simultaneously incentivized borrowers to withdraw equity via second lien products instead.

Marketing 381

Marketing Equity Principal Mortgages 381

Housing Wire

JUNE 14, 2022

posted in March 2021, according to CoreLogic ‘s latest loan performance report. . Other contributing factors to the decline were rising home prices and the resulting equity gains providing alternative options to those who may be coming out of forbearance or facing foreclosures, said CoreLogic’s report. . About 2.7%

Mortgages 336

Mortgages Staging Principal Equity 336

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. In January, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 378

Sales Mortgages Loan Officer Principal 378

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 378

Lending Bankruptcy Mortgages Principal 378

Housing Wire

JUNE 28, 2023

According to Mr. Cooper, the offer is conditioned to certain conditions, including consent from state mortgage regulators, the Government Mortgage Association , the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association. million customers and $853 billion in unpaid principal balance (UPB) at the end of March.

Principal 248

Principal Equity Loans Mortgages 248

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Jon McCue All things considered, the drop observed last month was not a big surprise, according to Jon McCue, director of client relations at RMI.

Mortgages 398

Mortgages Bankruptcy Principal Finance 398