Housing Wire

MAY 24, 2024

Congress sent a letter to the Federal Housing Finance Agency (FHFA) that opposes a plan for the government-sponsored enterprise (GSE) Freddie Mac to purchase and guarantee single-family, closed-end second mortgages. ” On Wednesday, the FHFA closed the comment period for the proposal , which was opened in April. ”

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Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. homeowners with outstanding mortgages — some 63% of all homes — home equity tied up in properties jumped by 6.8%

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Housing Wire

MAY 15, 2024

Last month, Freddie Mac announced a plan to begin purchasing single-family closed-end second (CES) mortgages from lenders, a proposal now subject to a public comment review period before adoption. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

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Housing Wire

NOVEMBER 9, 2023

Redwood Trust and home equity fintech lender Point have closed on a $139 million bond secured by 1,577 home equity investment (HEI) contracts. Point closed on its first bond issuance rated by DBRS Morningstar on Oct. Nomura Securities International Inc. was the sole-structuring agent for the issuance.

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Housing Wire

MAY 3, 2024

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. Compare that with $30 trillion in financeable equity — it dwarfs it. You have to think about how you monetize that equity,” Deitch said. You have to think about how you monetize that equity,” Deitch said. “So,

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Equity Technology Loans Lending 324

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. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

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Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

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Equity Marketing Fixed-rate mortgage Finance 353

Housing Wire

NOVEMBER 10, 2023

While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

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Equity Lending Banks Loans 353

Housing Wire

FEBRUARY 21, 2024

An affiliate of Paceline Equity Partners LLC , a private equity manager based in Texas, completed a debt investment in a subsidiary of Constellation Software Inc. We believe our past experience investing in the mortgage industry previously enabled us to move quickly and provide certainty of closing.”

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Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

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Housing Wire

NOVEMBER 1, 2023

Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. In September, Redwood launched its in-house home equity investment (HEI) origination platform called Aspire. Atalaya committed $250 million while Kingsbridge put up $50 million.

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Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S.

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Housing Wire

APRIL 2, 2021

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. Led by CEO Patricia Cook and founding chairman Brian Libman, Finance of America has been awfully busy ahead of the merger and IPO. Blackstone Group will retain a 70% ownership stake in the lender-and-servicer.

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Finance Closing Investor Mortgages 254

Housing Wire

MARCH 8, 2024

The Consumer Financial Protection Bureau (CFPB) will be closely scrutinizing what it described as “junk fees” imposed on borrowers when closing a mortgage. Those upfront costs cut into the amount of homebuyers’ down payments and reduce homeowners’ available equity.” What’s the CFPB monitoring?

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Housing Wire

JULY 20, 2022

The Joe Biden administration broadly identified this financing issue. The problem then, the authors found, is ascertaining favorable financing. Homeowners constructing an ADU – whose total build costs run over $150,000, according to the report – use cash out refinances, home equity loans, and renovation loans.

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Finance Construction Property Management Loans 365

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

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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. . ” U.S. ” U.S.

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Equity Loans Lending Banks 376

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

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Equity Finance Loans Residential 328

Housing Wire

AUGUST 23, 2023

New York-based digital lender Better.com announced Wednesday the closing of its business combination with the special purpose acquisition company (SPAC) Aurora Acquisition Corp , , ending a two-year journey to make the business public. Meanwhile, Harit Talwar will be the chairman of the board of directors at Better Home & Finance.

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Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived. Customer experience.

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Equity Lending Closing costs Mortgages 345

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

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Housing Wire

APRIL 14, 2022

Federal agencies committed to further racial equity through new equity action plans, but for housing, the action plan is light on new action. The housing plan lacks any participation from the Federal Housing Finance Agency , which is not a cabinet level agency, but oversees the federal entities that back most of the mortgage market.

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Housing Wire

APRIL 4, 2022

Redfin completed its acquisition of Bay Equity Home Loans , paying $137.8 million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. million premium over Bay Equity’s tangible book value” as of Feb.

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Housing Wire

JUNE 8, 2023

Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline recorded since early 2012, according to CoreLogic ’s Homeowner Equity Report (HER). properties. properties.

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Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? Top brass at Fannie Mae, in a Thursday webinar discussing its new equitable housing finance plans, argued it can. More than 40% of those borrowers are Black or Latino, he added.

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Equity Lending Closing costs Development 387

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.

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Equity Residential Loans Title 299

Housing Wire

MAY 23, 2024

Freddie Mac ’s head of single-family acquisitions, Sonu Mittal , this week defended the government-sponsored enterprise’s proposal to acquire single-family, closed-end second mortgages amid opposition by trade groups that are worried about its impacts on the secondary market. “Six Six out of 10 borrowers are below a 4% mortgage rate.

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Equity Closing Mortgages Lending 344

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”. That was good for no.

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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.

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Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. 1 answer has been, “They understand my borrowers and know how to close my loans.”

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Housing Wire

SEPTEMBER 14, 2023

” Another opportunity is in the home equity space. Redwood launched in September its in-house home equity investment (HEI) origination platform called Aspire. Banks don’t operate that close to the ground. We’ve completed well over 100 residential securitizations, close to 140 If we factor CoreVest.

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Equity Banks Investor Residential 307

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

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Broke Agent Media

JANUARY 31, 2023

Fannie Mae multifamily financing provided over $69 billion in 2022 to expand nationwide access to affordable housing. In the past five years since re-entering the market, Fannie Mae has provided more than $3 billion in equity property investments throughout the U.S., billion in 2021 Green Financing : $9.1 billion Newmark: $4.6

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Housing Wire

JUNE 24, 2022

Honorees like 2021 HW Insider Amanda Cherry , associate product manager at Finance of America Reverse , represent an exceptional class of housing professionals who continuously drive their team to achieve excellence in a number of different facets of housing. The post Nominations for HW Insiders Close Today!

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Housing Wire

MAY 15, 2024

The transaction is subject to due diligence, negotiation of definitive terms and other closing conditions. The sale is expected to close in the third quarter of 2024. market share, according to Inside Mortgage Finance (IMF) estimates. On March 6, the company received $1 billion in equity investment , led by former U.S.

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Housing Wire

JULY 14, 2022

As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. Older Americans are sitting on a record $10 trillion in home equity.

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Housing Wire

MAY 23, 2024

A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and avoid the possibility of foreclosure. It’s acceptable to owe some money on your mortgage, but the balance must be low enough to get paid off when your new reverse mortgage closes.”

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