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.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.” This represents $15.6

Mortgages 398

Mortgages Bankruptcy Principal Finance 398

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. trillion portfolio of MBS.

Mortgages 406

Mortgages Banks Loans Industrial 406

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgages 371

Mortgages Loan Officer Lending Principal 371

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Pleadings filed in the case — now pending in U.S.

Bankruptcy 383

Bankruptcy Banks Pre-approval Principal 383

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage.

Mortgages 406

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 406

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

Mortgages 413

Mortgages Lending Banks Investor 413

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 338

Marketing Principal Banks Loans 338

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

APRIL 21, 2022

Mortgage originator and servicer Mr. Cooper Group announced on Thursday that it is promoting two of its own into executive vice president roles. Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . billion in mortgages in the fourth quarter, a 13.9%

Banks 374

Banks Principal Finance Equity 374

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. There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. The loan must be secured by a principal residence.

Principal 488

Principal Loans Banks Closing costs 488

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

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

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.

Principal 407

Principal Loans Investor Industrial 407

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

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. Among mortgage brokers, Cohen ranked first. Cohen funded $751.4 Kim: What does your product mix look like?

Mortgages 324

Mortgages Marketing Loans Banks 324

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

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. The standards would require nonbank mortgage servicers to have a minimum net worth of $2.5 basis points of total servicing unpaid principal balance. That lines up with GSE requirements.

Principal 369

Principal Banks Mortgages Loans 369

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept. As of Sept.

Fixed-rate mortgage 372

Fixed-rate mortgage Principal Banks Loans 372

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

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

Mortgages 380

Mortgages Loans Investor Equity 380

Housing Wire

MAY 31, 2021

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. Senate Finance Committee. It’s this same willpower, steadfastness and determination to push through adversity that defines this year’s winners.

Principal 305

Principal Banks Finance Mortgages 305

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. A mortgage rate lockdown freezes the housing market. The mortgage industry shrinking by more than half to an estimated $1.7

Equity 500

Equity Marketing Loans Bankruptcy 500

Housing Wire

OCTOBER 26, 2023

.” Regarding acquiring Specialized Loan Servicing for a purchase price of approximately $720 million, Nierenberg added that it “helps grow our third-party servicing business and reinforces our position as one of the leading nonbank mortgage servicers in the country.” To support its acquisitions, Rithm had $1.9 million in Q2.

Principal 365

Principal Loans Mortgages Banks 365

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

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. Then, in what felt like an instant, in Q1 2022 mortgage rates skyrocketed and the refi boom ended. trillion in 2021. A HELOC is now cheaper than a refi. homeowners.

Equity 381

Equity Fixed-rate mortgage Principal Loans 381

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. Then, in what felt like an instant, in Q1 2022 mortgage rates skyrocketed and the refi boom ended. trillion in 2021. A HELOC is now cheaper than a refi. homeowners.

Equity 380

Equity Fixed-rate mortgage Principal Mortgages 380

Toronto Realty Blog

NOVEMBER 10, 2023

I don’t have statistics on this (chime in if you’re in the mortgage field), but I would guess that an overwhelming majority of borrowers in Canada elect to take a 25-year amortization period. In 2008, these changes were intended to strengthen the mortgage world. But on a 25-year amortization, that’s $7,159.18

Mortgages 77

Mortgages Principal Banks Loans 77

Housing Wire

FEBRUARY 3, 2022

Incenter Mortgage Advisors was flooded with a surge of mortgage-servicing rights business in January — with bulk MSR sales approaching in one month what the firm normally tallies in an entire year. The big trigger was we had a half-point increase in the 30-year par rate [for a mortgage] in January,” he said in a recent interview. “The

Purchase and sale agreement 352

Purchase and sale agreement Marketing Equity Banks 352

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

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. Garth Graham, senior partner at stratmor group.

Loan Officer 403

Loan Officer Loans Mortgages Industrial 403

HomeLight

DECEMBER 27, 2023

Speaking with a mortgage lender — or several — before you buy a home shows that you’re a serious consumer, but talking with one of these experts before you sell a house also has several benefits. That starts with determining what it will take to pay off your mortgage. Learn More 1.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Toronto Realty Blog

DECEMBER 12, 2023

Some of you have absolutely no idea what the “Canadian Mortgage Charter” is, and others know, and don’t care. This basically tells us all we need to know, right at the start: Is The Canadian Mortgage Charter a law? From the CBC article: Is The Canadian Mortgage Charter a law? So then why all the fuss?

Mortgages 83

Mortgages Banks Finance Principal 83

Housing Wire

JANUARY 25, 2023

Market speculation that Wells Fargo is contemplating a huge bulk sale of mortgage servicing rights (MSRs) may well be a case of a rumor that is all hat and no cattle. That doesn’t rule out that the banking behemoth might still have a such a deal in the works, however. Or it could signal a future MSR-market stampede. of the entire $8.4

Banks 330

Banks Loans Mortgages Sales 330

Housing Wire

JULY 26, 2023

million customers and $882 billion in unpaid principal balance (UPB) at the end of June, compared to $853 billion at the end of March. “However, with mortgage rates hovering at 7%, we’re going to keep our guidance unchanged at $20 to $30 million [net income] per quarter.” Mr. Cooper had 4.3 ” Mr. .

Loans 327

Loans Principal Banks Closing 327

Housing Wire

FEBRUARY 14, 2023

Managing a profitable mortgage business can be challenging in the best of markets. Mortgage servicing rights (MSRs) are valuable assets for mortgage lenders when origination business is slow. But lenders must also consider mortgage originator’s loan product innovation. of all mortgage applications.

Loans 329

Loans Investor Mortgages Principal 329

Realty Biz

SEPTEMBER 9, 2022

Like other debts, paying an early mortgage lets you secure a better financial future. Let us share some tips for helping you close that mortgage balance early. Before allowing you a loan, your bank will analyze your current financial capabilities. After deciding on a figure, your bank will assign an amount for a possible loan.

Mortgages 89

Mortgages Principal Loans Banks 89

Housing Wire

FEBRUARY 7, 2023

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. These differences can cause volatile MSR values.

Investor 290

Investor Finance Loans Mortgages 290