Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 369

Loans Debt-to-income ratio Banks Mortgages 369

Housing Wire

FEBRUARY 24, 2023

That’s why industry leaders are working on new solutions to the loss mitigation toolkit, including successors for the Covid-19 partial claim options. We know that the loan modification as we know at the Covid recovery model, every other type of loan modification, relies on a rate and term. “We

Industrial 333

Industrial Principal Loans Mortgages 333

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 350

Loans FHA loan Principal Marketing 350

Housing Wire

SEPTEMBER 30, 2021

The Department of Veterans Affairs announced this week that it is extending the timeframe for borrowers to request loan deferment. According to the VA’s circular, servicers may continue offering loan deferment until July 1, 2023, thus pushing the deadline nearly two additional years.

Loans 397

Loans Principal Lending Industrial 397

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Loan Officer Loans Mortgages Industrial 403

Housing Wire

JANUARY 5, 2022

And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. Last fall I wrote a report, “Productivity, the One KPI to Rule Them All,” that among other things, states very plainly that the mortgage industry will go through a major downsizing during 2022.

Industrial 441

Industrial Mortgages Principal Technology 441

Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan 363

VA loan Principal Loans Residential 363

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

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Industrial Banks Loans Design 338

Housing Wire

FEBRUARY 24, 2022

The Federal Housing Administration (FHA) is working to expand the COVID-19 loss mitigation program to include the option of a 40-year loan modification with a partial claim, an acknowledgement that some borrowers exiting forbearance are still facing financial challenges. Industry stakeholders sought more time to adjust to the change.

Loans 456

Loans Principal Mortgages As-is 456

Housing Wire

NOVEMBER 2, 2022

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. We have lenders coming to us asking about the potential impact of a mortgage loan closing should the NFIP lapse. The NFIP’s authority to operate must be periodically renewed by Congress.

Industrial 335

Industrial Seller disclosure Mortgages Principal 335

Housing Wire

OCTOBER 31, 2022

The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report. “The

Industrial 313

Industrial Mortgages Principal Loans 313

Housing Wire

MARCH 22, 2022

New York-based Mortgage Industry Advisory Corp. MIAC) is in the market with two whole-loan offerings of nonperforming Ginnie Mae-insured mortgages that combined are valued at more than $1.2 The two deals involve nonperforming loans that are eligible for early buyouts (EBOs) from Ginnie Mae loan pools.

Loans 281

Loans Marketing Principal Mortgages 281

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And industry experts say it’s not a systemic threat.

Loans 358

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 358

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

VA loan 440

VA loan Loans Principal Mortgages 440

Housing Wire

MARCH 5, 2024

Sanjiv Vas, former CEO of Caliber Home Loans , has joined the board of directors at Two Harbors Investment Corp , a Minnesota-based real estate investment trust that expects to launch a mortgage originations platform in the second quarter of 2024. Before joining Pagaya, Vas was CEO of Caliber Home Loans.

Principal 311

Principal Commercial Loans Mortgages 311

Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. Department of Veterans Affairs (VA) loans, the notice said.

Mortgages 334

Mortgages VA loan Principal Loans 334

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 341

Mortgages Seller concession Principal Loans 341

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. A housing recession is here, Marty Green, principal at Polunsky Beitel Green , emphasized. . Once inflation is contained, mortgage rates will start to drift lower. million units from 6.18

Industrial 389

Industrial Mortgages Fixed-rate mortgage Principal 389

Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said. As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” In addition, U.S.

Industrial 362

Industrial Mortgages Purchase and sale agreement Banks 362

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.

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Principal Loans Investor Industrial 397

Housing Wire

FEBRUARY 22, 2024

The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending. “We billion in closed loan volume, down from $133.1 billion for all of 2022.

Mortgages 406

Mortgages Principal Lending Loans 406

Housing Wire

MAY 7, 2024

Those who might benefit most are homeowners who want to access capital without affecting their budget or savings, because borrowers have no required principal or interest payments for as long as they are living in the property,” the article said. “A A reverse mortgage could also benefit those who might outlive their retirement savings.”

Mortgages 421

Mortgages Principal Equity Loans 421

Housing Wire

JANUARY 22, 2024

Lux’s career includes positions at Freddie Mac where he was executive vice president and chief information officer for seven years, and principal at Towers Watson , a global professional services company, where he was responsible for leading teams in the delivery of commercial risk modeling technology for the insurance industry.

Technology 309

Technology Principal Commercial Loans 309

Housing Wire

MAY 16, 2024

Some of the report’s findings underscore certain longstanding perceptions of the HECM program in terms of borrower engagement, while recognizing efforts that lenders and the broader industry have made to increase availability to more types of borrowers. billion from the program. For non-borrowing spouses , the results were a bit more mixed.

Loans 310

Loans Equity Principal Development 310

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. So, I’m really continuing to focus on the active adult market for what we call the “lifestyle home loan,” commonly known as HECM for Purchase.” My outlook is very positive.

Mortgages 363

Mortgages Principal Loans Loan Officer 363

Housing Wire

MAY 10, 2023

That’s the entire mortgage industry shouting, “hip, hip hooray!” ” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. Did you hear that sound?

FHA loan 537

FHA loan Loans Principal Mortgages 537

Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 327

Marketing Principal Banks Loans 327

Housing Wire

MAY 9, 2024

I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in originations, market share gains, and the addition of more than 600 licensed loan originators,” said Terry Schmidt, Guild CEO. “I Net revenue sharply increased to $231.8 million from only $57.2

Principal 280

Principal Technology Mortgages Loans 280

Housing Wire

NOVEMBER 7, 2023

loanDepot’s loan origination volume came in at $6.1 Regarding its products, purchase loans comprised 71% of the total, down from 73% in the previous quarter. loanDepot recently rolled out a new down payment assistance program for Federal Housing Administration loan borrowers that enables them to put zero money down upfront.

Principal 395

Principal Loans Sales Mortgages 395

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 419

Finance Seller concession Loan Officer Loans 419

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% compared to the prior month.

Mortgages 297

Mortgages Finance Equity Principal 297

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

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Sales Loan Officer Principal Loans 326

Housing Wire

MARCH 5, 2024

Sanjiv Das, former CEO of Caliber Home Loans , has joined the board of directors at Two Harbors Investment Corp , a Minnesota-based real estate investment trust that expects to launch a mortgage originations platform in the second quarter of 2024. Before joining Pagaya, Das was CEO of Caliber Home Loans.

Principal 195

Principal Commercial Loans Mortgages 195

Housing Wire

MARCH 21, 2024

to 135 loans in what RMI describes as a “seasonally bad month.” There are loans to be done here, but keep in mind that with how low volume has been the past two years at the higher expected rates, this isn’t something to build your business around.” Four of the top 10 industry lenders also gained ground for the month.

Mortgages 342

Mortgages Loans Equity Principal 342

Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Department of Housing and Urban Development (HUD) and principal executive vice president of Ginnie Mae.

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Principal Development Finance Industrial 321

Housing Wire

FEBRUARY 28, 2022

The FHFA would also eliminate the non-performing loan charge, which industry stakeholders had complained was procyclical, the agency wrote. The charge currently assesses a 200 basis point charge after the share of a servicer’s non-performing loans goes over 6%. But the FHFA’s proposed requirements contain some tradeoffs.

Principal 327

Principal Loans Industrial Mortgages 327

Housing Wire

DECEMBER 13, 2023

Industry response Members of the MBA and NMSA submitted a letter to FHA Commissioner Julia Gordon on the matter this week, largely supporting it but making a series of key recommendations designed to address industry concerns. Sustainable loss mitigation policy is necessary to preserve affordable homeownership,” the letter said.

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Principal Mortgages Design Industrial 282