article thumbnail

Master planned communities post strong new home sales numbers in 2023

Housing Wire

According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. And in 2023, each of the top 50 communities sold at least 368 homes, although that’s fewer than the 2021 record of 460 sales per community.

Sales 411
article thumbnail

Announcing the 2024 Class of Rising Stars!

Housing Wire

Take a look below to see this year’s list of honorees. Congratulations to the 2024 Rising Stars! Name Job Title Company Name A.T.

Principal 423
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae.

Principal 361
article thumbnail

NAR magazine devotes space to reverse mortgages and seniors

Housing Wire

Describing reverse mortgages as originating in 1961 before coming to greater prominence through the establishment of the HECM program during the Reagan administration, one of two recent NAR articles dealing with reverse mortgage-related subject matter stated that home sales and purchases are becoming a more common topic within HECM circles.

Mortgages 419
article thumbnail

Freddie Mac launches 9th STACR series offering in 2022

Housing Wire

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 billion, according to a presale report by Kroll Bond Rating Agency (KBRA). billion for the $12.2 million.

Principal 399
article thumbnail

Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM). The sale of Champion. in a deal valued at $500 million in cash and retained interest.

Sales 380
article thumbnail

HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit.

Mortgages 331