Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgages 370

Mortgages Loan Officer Banks Lending 370

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. million mortgage fraud settlement with the Securities and Exchange Commission to his name, seems to be back in the mortgage business. Shocked employees didn’t receive their last paychecks.

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Mortgages Bankruptcy Loans Investor 397

Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . Purchase mortgages accounted for about 82.5%

Mortgages 397

Mortgages VA loan Loans Banks 397

Housing Wire

FEBRUARY 15, 2023

Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program.

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Closing Mortgages Banks Title 284

Housing Wire

MARCH 10, 2023

This week, the Community Home Lenders of America (CHLA) released a special report entitled “The Ubiquity of IMB Regulation.” This report is important to independent mortgage banks (like Atlantic Bay Mortgage ) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers.

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Pre-qualification Banks Loans Mortgages 370

Housing Wire

AUGUST 5, 2020

That could be the death knell for rock-bottom mortgage rates. Fed Chairman Jerome Powell said at a news conference last week that the central bank was close to wrapping up a review of its policy-making strategy that began in 2019. The post Fed inflation plan could end rock-bottom mortgage rates appeared first on HousingWire.

Mortgages 508

Mortgages Bankruptcy Investor Banks 508

Housing Wire

SEPTEMBER 27, 2022

Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division.

FHA loan 384

FHA loan Lending Banks Finance 384

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Equity 421

Equity Purchase and sale agreement Marketing Lending 421

Housing Wire

JULY 17, 2023

ICE’s proposed acquisition of Black Knight remains under review by the Federal Trade Commission (FTC). Following the announcement of the deal, trade groups and lawmakers addressed antitrust concerns stemming from ICE becoming the largest mortgage services company in America. billion mega-deal announced in May 2022.

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Closing Banks Finance Mortgages 370

Housing Wire

APRIL 4, 2022

Educate your outreach by keying into shopping behavior and you can empower your mortgage marketing in the new year. Though mortgage rates have gone up slightly, they still hover at bargain lows for consumers who are considering homebuying. This trend is exacerbated perhaps by the aging of America and the growing desire to age in place.

Mortgages 384

Mortgages Marketing Equity MLS 384

Housing Wire

JANUARY 19, 2023

The Mortgage Bankers Association (MBA) reported that mortgage applications recently hit their lowest rate since 1996 , and Fannie Mae’s most recent estimate shows that origination volume will decline to $1.7 Lenders need a robust mortgage quality control (QC) audit and reporting program to do so effectively. trillion in 2023.

Loans 397

Loans Lending Investor Mortgages 397

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 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

MAY 16, 2023

” At that time, historically low rates spurred the mortgage market to $4 trillion in volume — and the perception among the rank-and-file was that Home Point Capital ‘s wholesale lending business Homepoint was a great place to work. We all watched the live stream from Times Square. “Homepoint was fantastic.

Mortgages 397

Mortgages Loans Lending Equity 397

Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Its parent Rocket Companies rode the wave to a stunning $9.4

Loan Officer 370

Loan Officer Purchase and sale agreement Loans Mortgages 370

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 397

Loans Purchase and sale agreement Due diligence Industrial 397

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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Banks Inspection contingency Inspection FHA loan 84

Housing Wire

FEBRUARY 14, 2024

The rapid collapse of four regional banks that began last March shocked regulators and investors alike. The banks had courted high-net-worth clients working in speculative tech and crypto startups in Silicon Valley, while also tying up a large portion of the banks’ assets in Treasury securities. By the end of Feb.

Banks 441

Banks Mortgages Commercial Residential 441

GeekEstate

FEBRUARY 23, 2023

The following sixteen minute video by Wendover Productions details how airlines have quietly become banks since the creation of the first frequent flyer program in 1981: United’s loyalty program is valued at $21.9 TURBULENCE AHEAD What if you built a brokerage into a bank the same way airlines iterated over the years?

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Banks Brokerage Branding Closing 62

Realtor.com

APRIL 29, 2021

Yuri_Arcurs/iStock; MattKay/iStock Buying a home and getting a mortgage typically go hand in hand. Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A And make sure you’re aware of the biggest misconceptions about home mortgages.

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Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

Housing Wire

AUGUST 5, 2022

When I wrote the America is back recovery model on April 7, 2020, and then retired it on Dec. Let’s review those red flags in order, as my model is based on an economic progression model: 1. What a crazy day for my economic model! 9, 2020, I knew one data line would lag the most: jobs! percent, the U.S. It recently went from 11.3

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Staging Development Sales As-is 545

Housing Wire

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

Industrial 421

Industrial Banks Lending Equity 421

Realtor.com

OCTOBER 19, 2020

Widespread payment holidays on mortgages, auto loans and student loans freed up funds and kept credit reports clean. Emil Lendof/The Wall Street Journal Millions of Americans lost their jobs and skipped debt payments this year. You wouldn’t know it looking at consumer credit scores. While the coronavirus was pummeling the U.S.

Banks 112

Banks Loans Technology Lending 112

Housing Wire

SEPTEMBER 28, 2022

Despite steep financial losses, mortgage tech company Blend continues to add some of America’s largest mortgage lenders to its client roster. Once an application is submitted, customers have a single portal for tracking its status, completing outstanding tasks, reviewing and electronically signing loan documentation.

Banks 369

Banks Loan Officer Mortgages Loans 369

RIS Media

DECEMBER 6, 2020

This year’s report provides an excellent review of the COVID-19 pandemic’s effects on the broader financial system. “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.

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Principal Finance Banks Loans 81

McKissock

FEBRUARY 13, 2023

His responsibilities also include reviewing and analyzing real estate property valuation data and evaluating product performance, including rules modifications. Before joining Veros, Jeff was the senior review appraiser for the Banc of California. He was appointed to by the Governor of Arizona to serve on the State Board of Appraisals.

VA loan 85

VA loan Principal Development Title 85

Housing Wire

SEPTEMBER 9, 2022

An influential banking trade group this week argued that the Federal Housing Finance Administration (FHFA) should not permit nonbank lenders and real estate investment trusts to become members of the $1 trillion Federal Home Loan Bank system. Member institutions are able to borrow money cheaply and can pass savings on to members.

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Banks Finance Commercial Loans 432

Broke Agent Media

MAY 13, 2023

In this week’s Hot Sheet recap, we review three of the biggest topics covered by host Byron Lazine. does not intervene and come to an agreement about the debt (which is unlikely), Zillow analysts would expect mortgage rates to increase to over 8%. decrease in 2023 Mortgage Stanley: -4% decrease in 2023 Moody’s: -4.4%

Loans 52

Loans Mortgages Banks Industrial 52

Housing Wire

NOVEMBER 7, 2023

On Tuesday, the Federal Housing Finance Agency (FHFA) released a report that examines the Federal Home Loan Bank (FHLBank) system, looking back at its 90-year legacy and offering a series of transformative goals the agency hopes to reach before its centennial in 2032.

Banks 408

Banks Finance Development Loans 408

HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. A home goes through several steps before the bank physically takes over the house and sells the property. Source: (Adam Wilson / Unsplash). What is a foreclosed home? Different types of foreclosure sales.

Pre-approval 103

Pre-approval Short sale Banks Finance 103

HomeLight

JANUARY 12, 2022

According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Source: Ice Mortgage Technologies , Data for Sept. The buyer will sign the brunt of the paperwork, especially if they are securing a mortgage. So if you list your home on Jan.

Closing 113

Closing Purchase and sale agreement Pre-approval Inspection 113

RIS Media

APRIL 5, 2021

Achieving homeownership largely depends on access to mortgage credit, and homeownership gaps in America may persist without new innovation to current models. Achieving homeownership largely depends on access to mortgage credit, and homeownership gaps in America may persist without new innovation to current models.

Lending 56

Lending Banks Mortgages Industrial 56

McKissock

FEBRUARY 13, 2023

His responsibilities also include reviewing and analyzing real estate property valuation data and evaluating product performance, including rules modifications. Before joining Veros, Jeff was the senior review appraiser for the Banc of California. He was appointed to by the Governor of Arizona to serve on the State Board of Appraisals.

VA loan 52

VA loan Principal Development Title 52

Broke Agent Media

APRIL 1, 2023

If it continues in this direction, where appraisals become easier—and it doesn’t impact the valuations when banks are lending…we could see a quicker process for buyers. Source: Fortune A recent Lance Lambert article breaks down housing market affordability, along with mortgage rate predictions from nine experts.

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Pre-approval Lending Agents Industrial 52

Housing Wire

SEPTEMBER 25, 2023

If it is not reauthorized by Congress before that date, the mortgage industry could see consequences, including ceding control of certain land use policies and the cessation of some mortgage lending. Senate Banking Committee hearing earlier this month. Without NFIP, mortgage activity would be seriously diminished, as Sen.

Lending 441

Lending Mortgages Land Banks 441

Housing Wire

JUNE 17, 2022

A banking regulatory agency asked whether the Consumer Financial Protection Bureau should be involved in deciding whether to green light bank mergers. The Biden administration last year asked federal agencies — which have not denied a bank merger in the last 15 years — to update their bank merger policies.

Banks 397

Banks Industrial Lending As-is 397

HomeLight

AUGUST 16, 2021

Are you prepared for the responsibilities of home maintenance, mortgage payments, and everything else that comes along with homeownership? Are you prepared for the responsibilities of home maintenance, mortgage payments, and everything else that comes along with homeownership? HomeLight to the rescue! Assess your readiness.

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Closing costs Purchase and sale agreement Inspection Loans 104

Housing Wire

OCTOBER 15, 2021

Tavares has held senior positions at Visa and FiservFirst Data , and most recently led the Digital Commerce Alliance , a global trade association which counted Bank of America , Discover , MasterCard and Microsoft among its members. VantageScore’s model is currently under review by the FHFA.

Mortgages 397

Mortgages Banks Investor Finance 397