Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. The leadership is also changing. billion goodwill impairment.

Equity 298

Equity Mortgages Banks Commercial 298

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. . New Residential Investment Corp.

Equity 377

Equity Loans Lending Banks 377

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 352

Equity Marketing Debt-to-income ratio Lending 352

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 311

Equity Banks Investor Residential 311

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 332

Equity Lending Loans Banks 332

Housing Wire

MARCH 7, 2024

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” My guess is we’ll do 10 or 11 deals this year in the $5.5

Investor 347

Investor As-is Commercial Equity 347

Housing Wire

JULY 12, 2022

San Francisco-based Unison is extending its reach in the heartland by expanding its shared-equity loan program to homeowners in Nebraska. billion in equity-sharing agreements with some 9,000 homeowners across 29 states and the District of Columbia. Prioritizing home equity solutions in a rising rate environment.

Equity 303

Equity Residential Loans Title 303

Housing Wire

MAY 3, 2022

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. The capital will be used to accelerate Point’s growth in the $25 trillion home-equity market, according to the company’s co-founder and CEO Eddie Lim. Point raised about $30.4

Equity 391

Equity Investor Loans Residential 391

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

Lending 366

Lending Loans Equity Mortgages 366

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

Equity 326

Equity Loans Lending Residential 326

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. The loans are serviced by Rushmore Loan Management Services.”. Learn about the tools lenders should leverage to streamline home equity title and closing.

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Equity Investor Marketing Title 317

Housing Wire

JULY 14, 2022

Palo Alto, California-based fintech Point , which offers home-equity investment (HEI) contracts to homeowners, is expanding its services into Nevada and Ohio. Nevada homeowners are sitting on more than $150 billion in tappable home equity, and Ohio homeowners have more than $330 billion,” said Eddie Lim, CEO and co-founder of Point. “The

Equity 332

Equity Finance Loans Residential 332

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 317

Loans Equity Lending Mortgages 317

Housing Wire

JULY 8, 2022

House Financial Services Committee’s Subcommittee on Oversight and Investigations (the subcommittee), was sent to the following companies: Invitation Homes ; American Homes 4 Rent ; FirstKey Homes (owned by Cerberus Capital Management ); Progress Residential (owned by Pretium Partners ); and Amherst Residential.

Equity 391

Equity Residential Investor As-is 391

Housing Wire

MAY 23, 2024

But they have also accumulated a good amount of equity over the last few years. How do we allow them to extract equity out of their house in a responsible way?“ The MBA said it recognized that the product provides access to equity at lower rates and is a “cost-effective alternative to cash-out refinances.“

Equity 347

Equity Closing Mortgages Lending 347

Housing Wire

MARCH 14, 2022

HousingWire recently spoke with Jon Gerretsen, SitusAMC Managing Director of Residential New Originations and Fulfillment Services, about the home buying boom and how lenders can gain market share and drive profitability in a white-hot purchase mortgage market. “The Overall origination activity in February was down 5.4% over last year.

Equity 359

Equity Lending Loans Mortgages 359

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 362

VA loan Principal Loans Residential 362

Housing Wire

MAY 1, 2023

These loans, which are often used to finance environmentally-minded renovations, like the addition of solar panels, have led to financial instability for some borrowers. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 294

Loans Lending Finance Renovation 294

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

Equity 348

Equity Loan Officer Residential Commercial 348

Housing Wire

FEBRUARY 7, 2022

San Francisco-based fintech firm Unison plans several securitization deals to market in 2022, with private label offerings backed by home-equity assets. Unison, through an REA contract, advances the homeowner a portion of the equity in the property in exchange for a lien position and a share of the home’s future appreciation.

Equity 270

Equity Marketing Investor Finance 270

Housing Wire

OCTOBER 11, 2023

HousingWire was unable to confirm which lines of business were affected, but it follows PNC’s layoffs in July when it made “limited organizational changes” within its mortgage and home equity groups, the spokesperson confirmed. The company reported total consumer loans of $101.8 The company reported total consumer loans of $101.8

Equity 405

Equity Residential Banks Loans 405

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a potential lifeline in this complex process. In this post, we’ll provide tips and insights about bridge loans in Pennsylvania, and how to Buy Before You Sell. If you need assistance navigating the use of a bridge loan in Pennsylvania, HomeLight encourages you to reach out to your own advisor.

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

Housing Wire

MARCH 8, 2024

banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. FDIC), banks held $2.78 in Q2 2023.

Banks 440

Banks Commercial Lending Residential 440

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 349

Loans FHA loan Principal Marketing 349

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. recently rebranded as Rithm Capital ).

Equity 367

Equity Loans Residential Banks 367

HomeLight

NOVEMBER 17, 2023

However, there’s a strategic solution that might just fit your needs: a bridge loan. As a short-term financing option, bridge loans in Illinois offer a unique opportunity. In this post, we’ll provide insights and helpful tips about bridge loans in Illinois. What is a residential bridge loan?

Equity 89

Equity Loans Debt-to-income ratio Home sale contingency 89

Housing Wire

DECEMBER 11, 2023

The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand. There’s been increased activity in the last two weeks [more] than the last two months. If we compare 24 months ago, demand is way off.

Mortgages 450

Mortgages Fixed-rate mortgage Equity Loans 450

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Loan production in the home equity arena was $1.8 billion in outstanding residential mortgages on its books through March 31, 2024, down from $228.9 The home equity portfolio was $25.5

Mortgages 379

Mortgages Banks Equity Commercial 379

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 333

Mortgages VA loan Principal Loans 333

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a financial lifeline that can synchronize the purchase of your new Minnesota home while leveraging the equity of your current property. Enter the bridge loan, a financial lifeline that can synchronize the purchase of your new Minnesota home while leveraging the equity of your current property.

Equity 94

Equity Loans Debt-to-income ratio Staging 94

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 265

Loans Equity Residential Industrial 265

HomeLight

NOVEMBER 6, 2023

A bridge loan might be the lifeline you need, offering a short-term financing solution that lets you purchase your new home even before you’ve handed over the keys to your old one. If you need assistance navigating the use of a bridge loan in Massachusetts, HomeLight encourages you to reach out to your own advisor.

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell.

Equity 96

Equity Loans Debt-to-income ratio Home sale contingency 96

Housing Wire

FEBRUARY 16, 2023

The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA). “As

Mortgages 387

Mortgages Equity VA loan FHA loan 387

Housing Wire

MAY 22, 2024

The demand for inconspicuous safety bars, lower sinks, residential elevators and other amenities has given home improvement chains, contractors, designers and architects a noticeable lift.” The data is clear: Older adults, when contemplating future living arrangements, would prefer to remain in their homes as long as feasibly possible.

Renovation 390

Renovation Equity Design Branding 390

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. regulators. regulators. trillion in 2022.

Banks 433

Banks Mortgages Fixed-rate mortgage Equity 433

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 416

Equity Lending Fixed-rate mortgage Loans 416