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.

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Marketing Principal Banks Loans 338

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. “The

Mortgages 339

Mortgages Marketing Banks Investor 339

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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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. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 362

Lending Principal Finance Loans 362

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 488

Principal Loans Banks Closing costs 488

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 329

Mortgages Banks Marketing Residential 329

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 402

Principal Loans Banks Mortgages 402

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 90

Loans Principal Finance Banks 90

Housing Wire

APRIL 21, 2022

Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter.

Banks 374

Banks Principal Finance Equity 374

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 435

Banks Lending Loans Principal 435

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 359

Banks Bankruptcy Loans Investor 359

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 421

Technology Development Title Lending 421

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks.

Mortgages 371

Mortgages Loan Officer Lending Principal 371

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 398

Mortgages Bankruptcy Principal Finance 398

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. The Bitcoin-backed mortgage product accepts Bitcoins and properties as collateral for loans to clients that want to purchase new real estate or finance a property they already own.

Mortgages 413

Mortgages Lending Banks Investor 413

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 406

Mortgages Banks Loans Industrial 406

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 292

Loans Marketing Due diligence Residential 292

Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

Industrial 349

Industrial Banks Loans Design 349

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 million in Q2 2023.

Fixed-rate mortgage 372

Fixed-rate mortgage Principal Banks Loans 372

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. The CSBS liquidity requirements also conform to the requirements the Federal Housing Finance Agency already has. basis points of total servicing unpaid principal balance.

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Principal Banks Mortgages Loans 369

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. Temporary rate buydowns have become a popular concession, especially among homebuilders, in which one out of 10 loans feature a seller-paid buydown, said Peter Idziak, senior associate at Polunsky Beitel Green. over asking price.

Equity 500

Equity Marketing Loans Bankruptcy 500

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 Who are your main borrowers?

Mortgages 324

Mortgages Marketing Loans Banks 324

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

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 365

Principal Loans Mortgages Banks 365

Housing Wire

SEPTEMBER 22, 2022

Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment. According to the NAR, there were 1.28

Mortgages 406

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 406

Housing Wire

JUNE 1, 2022

Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi. In cases where they end up needing to take only the minimum required draw from a HELOC, they would only end up paying back that part of the loan. homeowners.

Equity 381

Equity Fixed-rate mortgage Principal Loans 381

Housing Wire

JULY 26, 2023

The result included, among other things, a mark-to-market of $61 million, a cost related to the acquisition of Rushmore Loan Management Services of $6 million and a $1 million charge due to severance. million customers and $882 billion in unpaid principal balance (UPB) at the end of June, compared to $853 billion at the end of March.

Loans 327

Loans Principal Banks Closing 327

RIS Media

DECEMBER 6, 2020

Federal Housing Finance Agency (FHFA) Director Mark Calabria issued a statement at the Financial Stability Oversight Council Principals meeting. “As the annual report describes, strong labor markets and house price appreciation created a solid foundation under America’s mortgage finance system at the start of 2020.

Principal 61

Principal Finance Banks Loans 61

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. In fact, the largest MSR deal of the month for Incenter, involving a loan portfolio valued at $23.7

Purchase and sale agreement 352

Purchase and sale agreement Marketing Equity Banks 352

Housing Wire

MAY 3, 2022

Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi. In cases where the homeowner ends up needing to take only the minimum required draw from a HELOC, they would only end up paying back that part of the loan. homeowners.

Equity 380

Equity Fixed-rate mortgage Principal Mortgages 380

Housing Wire

FEBRUARY 14, 2023

When rising interest rates and plummeting affordability decimate loan applications, it’s even more difficult. Maintaining the servicing rights of loans originated by the lender is equally as important as those acquired through a purchase. But lenders must also consider mortgage originator’s loan product innovation.

Loans 329

Loans Investor Mortgages Principal 329

HomeLight

AUGUST 31, 2022

Increasing inflation on everything from gas to groceries and the reinstatement of student loans and other repayments (paused during the pandemic) are prompting some consumers to explore avenues to maximize their assets if times get tough. Banks, credit unions, and other lenders each have their own criteria. Term lengths can vary.

Equity 102

Equity Finance Loans Closing costs 102

Realty Biz

MARCH 7, 2023

Suppose you’re set on financing your first home in 2023. Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. How do lenders determine your income and eligibility for a loan? Loans can be granted at around 43 percent of your gross income.

Loans 74

Loans Debt-to-income ratio Closing costs Lending 74

Housing Wire

JANUARY 25, 2023

That doesn’t rule out that the banking behemoth might still have a such a deal in the works, however. As of the start of this year, Wells Fargo’s all-agency MSR portfolio included some $608 billion in loans serviced based the unpaid principal balance, or 7.3% Or it could signal a future MSR-market stampede. of the entire $8.4

Banks 330

Banks Loans Mortgages Sales 330

Norada Real Estate

JANUARY 28, 2023

What is Mortgage Loan Modification? A mortgage loan modification is a change to the terms of an existing mortgage loan made to make the loan more affordable for the borrower. Changes to the interest rate, loan term, or loan amount are examples of this.

Loans 87

Loans Mortgages Principal Equity 87

Keeping Current Matters

APRIL 12, 2021

6% paid off their loan in full. The Banks Don’t Want the Houses Back. Banks have learned lessons from the crash of 2008. As an example, about 50% of all mortgages are backed by the Federal Housing Finance Agency (FHFA). 9% were given a loan modification. 7% brought past due payments current.

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Equity Banks Loans Lending 254

HomeLight

JUNE 8, 2021

While there may be limited wiggle room with your budget and credit history, your lender is a valuable resource when it comes to determining an effective loan strategy for the purchase of your new home. On a 30-year, fixed-rate loan with an interest-only period of five years, your payment would be $781.25 Let’s do this.

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Loans Principal Banks Mortgages 81