Housing Wire

MARCH 1, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 377

Closing Investor Principal Residential 377

Housing Wire

MARCH 18, 2022

I closed 28 H4P transactions last year, over 1% of the national total. Over the years I ended up teaching classes on renovation loans, mortgage insurance, mortgage mechanics, etc.,” Then about six years ago, I taught a class on government loans and included a class section on reverse mortgages, and things have never been the same.”.

Loans 484

Loans Closing Mortgages Equity 484

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 398

Loans Due diligence Investor Technology 398

Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans. of transactions.

Loans 448

Loans Title Commercial Closing 448

Housing Wire

MAY 14, 2024

Funded loan volumes came in at $661 million, up 25% quarter over quarter. Purchase loans comprised 80% of the funded volume, followed by refinances (12%) and HELOCs (8%). Better also produced more loans via its direct-to-consumer channel (54% of the total) than through business-to-business (46%) in the quarter.

Loans 389

Loans Loan Officer Equity Mortgages 389

Housing Wire

AUGUST 1, 2021

More than ever, borrowers want and expect to close their loans digitally, from the initial loan application through the final review and approval of their loan package. But while eClosings are convenient, it can be challenging to offer the same level of customer service online as with in-person closings.

Closing 370

Closing Loans Closing costs Technology 370

Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Meanwhile, the FHA-insured loan delinquency rate recorded a larger jump during the same period to 10.81%, up from 9.5%, the highest level since Q3 2021.

Industrial 444

Industrial Closing FHA loan Loans 444

Housing Wire

OCTOBER 7, 2023

United Wholesale Mortgage , the country’s top mortgage lender, announced an enhancement to its PA+ service on Saturday, allowing brokers and their processors to choose which part of the loan process they would like a lender’s loan coordinator to handle. That’s the most time-consuming part of the loan process.

Loans 435

Loans Mortgages Closing Agents 435

Housing Wire

MAY 23, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pretax net loss of $645 on each loan they originated in the first quarter of 2024 — a decrease from the average loss of $2,109 per loan in Q4 2023, according to the Mortgage Bankers Association ’s (MBA) newest quarterly performance report.

Loans 405

Loans Mortgages Banks Industrial 405

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. Steinway, who closed more than $1.5 Steinway also expects NAF’s “expansive” product mix, such as NAF Cash , will help him achieve more production volume in a highly competitive market.

Loan Officer 385

Loan Officer Loans Finance Mortgages 385

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. Read on for more about Marquis’s perspective on the housing market, business strategies for 2023, and his take on the loan level pricing adjustment (LLPA) fees. Are you the sole person closing sales?

Loans 359

Loans Pre-approval Closing Marketing 359

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As And even those offerings generally do not convert into actual savings for clients.”

Loans 458

Loans Loan Officer Mortgages Closing costs 458

Housing Wire

JANUARY 5, 2023

California-based Loan America, Inc. is the latest former business partner to sue Sprout Mortgage in a suit filed six months after the mortgage lender abruptly closed its doors. Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders.

Loans 413

Loans Due diligence Loan Officer Mortgages 413

Housing Wire

DECEMBER 20, 2021

The automated loan document preparation and eMortgage services provider claims the new platform delivers a clear-cut, highly accurate decision telling users exactly how far they can take their closing digitally based on the unique attributes of the loan transaction and the county-level eRecording acceptance.

Closing 440

Closing Loans Investor Title 440

Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. FHA rates were at 6.759% and rates for jumbo loans were even higher, at 7.333%.

Loans 407

Loans VA loan FHA loan Mortgages 407

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). The transaction is expected to close in May. “We Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

Lending 383

Lending Banks Loans Renovation 383

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 503

Loans Debt-to-income ratio Lending Banks 503

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

VA loan 421

VA loan Loans Loan Officer Brokerage 421

Housing Wire

APRIL 29, 2024

billion in loans. billion in 2023, with most of it being conventional (74%) and purchase (65%) loans. The bank had 766 loan officers as of Monday, according to the Nationwide Multistate Licensing System (NMLS). Fulton claims that the transaction also reduces its loan-to-deposit ratio from 99% to 92%, improving its liquidity.

Banks 350

Banks Closing Loan Officer Loans 350

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 369

VA loan Loans Loan Officer FHA loan 369

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification. “The UWM, which originated $33.5

Construction 397

Construction Loans Loan Officer New Construction 397

Housing Wire

MARCH 22, 2023

HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. HW: How does working with an insurance agency simplify the closing process?

Debt-to-income ratio 390

Debt-to-income ratio Closing Loans Closing costs 390

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. It was late 2022 and Mike was feeling the pressure. The lower comp rate stung.

Loan Officer 457

Loan Officer Loans Lending Mortgages 457

Housing Wire

AUGUST 25, 2023

Zillow ‘s mortgage arm launched a down payment assistance program where the company will cover 2% of the borrower’s down payment at closing, allowing buyers to pay just 1% upfront. The program is available for eligible borrowers in Arizona and will expand to additional markets, Zillow Home Loans said in a release.

Loans 369

Loans Mortgages Closing Agents 369

Housing Wire

JANUARY 10, 2022

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HW: How can lenders help homebuyers avoid closing delays?

Closing 484

Closing Loans Inspection Technology 484

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

Loans 397

Loans Mortgages Development As-is 397

Housing Wire

MAY 25, 2022

The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. Loan closings could not proceed until the VA issued its approval, which resulted in a drawn-out process.

Pre-approval 431

Pre-approval Loans VA loan Land 431

Housing Wire

APRIL 7, 2023

Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Arizona-based The Loan Store, also a pure wholesale lender, will be led by Phil Shoemaker, Homepoint’s president of originations.

Loans 522

Loans Equity Investor Mortgages 522

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 421

Loans Closing costs Development Finance 421

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Loans 401

Loans Bankruptcy Sales Commercial 401

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

Loan Officer 410

Loan Officer Loans Mortgages Agents 410

Housing Wire

MARCH 1, 2022

Many lenders are familiar with digital closings (eClosings), but they might not know just how valuable they can be to their business. In a recent study , Marketwise and Notarize found that digital closings shorten the time it takes to close, reduce errors and increase ROI — all while improving customer experience.

Closing 375

Closing Loans Title Technology 375

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

Closing 450

Closing Mortgages VA loan FHA loan 450

Housing Wire

MARCH 8, 2023

Chicago-headquartered lender Guaranteed Rate has expanded its program to approve loans within 24 hours nationwide. billion in closed loan volume, according to the lender. billion in closed loan volume, according to the lender. The program first rolled out to a select group of customers in 2022, resulting in $1.1

Loans 377

Loans Closing Closing costs Mortgages 377

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs. Those borrowers are eligible to receive an additional 0.5%

Closing costs 396

Closing costs Closing Agents Mortgages 396

Housing Wire

MAY 11, 2023

This integration allows lenders to access Flueid’s title data and insights during the loan application process, resulting in time savings and a simplified consumer experience. Loan officers and underwriters can now easily check title information and review critical insights to understand the status of a property and consumer.

Loans 371

Loans Title Title search Loan Officer 371

Housing Wire

APRIL 17, 2023

As the COVID-19 national emergency draws to a close, the forbearance rate has decreased month over month, according to a report from the Mortgage Bankers Association (MBA) on Monday. The total number of loans in forbearance in March decreased five basis points from February, dropping to 0.55% from 0.60% of servicers’ portfolio volume.

Closing 388

Closing Mortgages Loans Staging 388