Housing Wire

DECEMBER 11, 2023

The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand. There is a lot more inquiry for home equity line credit. How fast we move past that is up for debate.”

Mortgages 450

Mortgages Fixed-rate mortgage Equity Loans 450

Housing Wire

APRIL 24, 2024

Additionally, its return on tangible common equity rose to 14.5% The company has started the year with excellent momentum, including return on tangible common equity rising to 14.5%,” Chairman and CEO Jay Bray said in a statement. Mr. Cooper funded 11,599 loans in the first quarter, totaling approximately $2.9 This included $1.4

Equity 288

Equity Lending Principal Technology 288

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgages 421

Mortgages Principal Equity Loans 421

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 341

Mortgages Seller concession Principal Loans 341

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 419

Finance Seller concession Loan Officer Loans 419

Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 327

Mortgages Marketing Equity Finance 327

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3%

Mortgages 297

Mortgages Finance Equity Principal 297

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And industry experts say it’s not a systemic threat.

Loans 358

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 358

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). to 358 loans).

Mortgages 342

Mortgages Loans Equity Principal 342

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 310

Sales Mortgages Loans Loan Officer 310

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 363

Mortgages Principal Loans Loan Officer 363

Housing Wire

MAY 17, 2024

In this second part of a recent discussion , Resch explains how financial planner conversations about reverse mortgages have evolved in recent years, and how mortgage industry professionals can overcome any intimidation they may feel about approaching planners as potential sources of business. And it’s the exact opposite now.

Mortgages 368

Mortgages Industrial Equity Principal 368

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%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 380

Equity Fixed-rate mortgage Principal Loans 380

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%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 374

Equity Fixed-rate mortgage Principal Mortgages 374

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. AI can understand the loan status, a loan profile and AI can respond to the consumer.

Mortgages 439

Mortgages Loan Officer Loans Equity 439

Housing Wire

MAY 1, 2023

In its tenth year, this industry award is showcasing the up-and-coming leaders in housing who have had major accomplishments all before the age of 40. They work in any and every area of the housing economy and come from diverse backgrounds but share one common trait — an outsized impact on the industry and within their businesses.

Loan Officer 370

Loan Officer Principal Title Lending 370

Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 327

Marketing Principal Banks Loans 327

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.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 387

Mortgages Bankruptcy Principal Finance 387

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. In January, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 371

Sales Mortgages Loan Officer Principal 371

Housing Wire

FEBRUARY 3, 2022

MSRs gain value as interest rates rise, in part because upward-bound rates cause mortgage refinancing to ebb, which slows prepayment speeds on mortgages — increasing the effective long-term yield of the servicing rights tied to those loans. In fact, the largest MSR deal of the month for Incenter, involving a loan portfolio valued at $23.7

Purchase and sale agreement 344

Purchase and sale agreement Marketing Equity Banks 344

Housing Wire

FEBRUARY 8, 2024

New York-based real estate investment trust Two Harbors has hired industry veteran Kyle Kilpatrick to lead its newly created mortgage originations division, which is part of the company’s strategy to retain borrowers from its servicing portfolio when interest rates drop. “He Meanwhile, the 30-year fixed mortgage rate was 6.9%

Lending 310

Lending Mortgages Principal Loans 310

Housing Wire

SEPTEMBER 19, 2022

A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. Cash-out refis continued to increase in 2021, with borrowers taking advantage of surging home prices and record levels of home equity. Black borrowers’ share of home purchase loans increased to 7.9%

Marketing 348

Marketing Loans Principal Mortgages 348

Housing Wire

SEPTEMBER 20, 2023

Still, there are challenges facing the MSR market related to the staying power of the huge volume of mortgage servicing rights now being traded that are pegged to legacy loans at low interest rates — in the 3% to 4% range. The bulk of MSR trades to date have involved legacy loans with “a sub-4% WAC” [weighted average coupon], Piercy said.

Banks 353

Banks Loans Principal Investor 353

Housing Wire

AUGUST 1, 2023

Through their visionary leadership, they have propelled the industry forward, driving change, fostering inclusivity and taking the reigns as female executives in a traditionally male industry.

Lending 370

Lending Title Mortgages Equity 370

Housing Wire

JUNE 3, 2021

Job losses in the service industry sector severely impacted renters, while those who have been able to maintain their jobs remotely have fared much better. Presented by: Computershare Loan Services. As of Freddie Mac’s most recent report , there are 1,154 securitized loans in forbearance, representing about 2.1%

Principal 471

Principal Finance Loans Equity 471

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 397

Mortgages Banks Loans Industrial 397

Housing Wire

OCTOBER 25, 2023

The firm also had a $39 million loss associated with equity investments primarily related to the sale of its title business in 2021. A team of equity analysts at Jefferies said the third-quarter earnings show the core fundamentals at Mr. Cooper are “solid and improving.” “The The correspondent channel fell to $1.7 billion in Q2 2023.

Purchase and sale agreement 332

Purchase and sale agreement Equity Principal Banks 332

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. It’s also made a push to hire teachers and first responders to be loan officers. and former U.S.

Mortgages 283

Mortgages Investor Loan Officer Principal 283

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 367

Lending Bankruptcy Mortgages Principal 367

Housing Wire

AUGUST 9, 2022

” In a conference call with analysts, loanDepot executives said the company plans to fund the remaining wholesale pipeline of approximately $1 billion in loans by the end of October. As has been the case with other lenders, loan origination volume overall dropped at loanDepot. million from the previous quarter.

Closing 471

Closing Principal Lending Loans 471

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams. LLR Partners, which led a $26.5

Investor 274

Investor Sales Mortgages Loan Officer 274

Housing Wire

JANUARY 5, 2022

Reverse Mortgage Funding, LLC (RMF) has acquired a portfolio of mortgage servicing rights (MSRs) and other assets from industry-leading lender American Advisors Group (AAG), which consists of more than 75,000 loans totaling $12.1 billion in unpaid principal balance (UPB).

Mortgages 345

Mortgages Principal Loans Industrial 345

Housing Wire

MAY 16, 2022

million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first quarter of 2022. UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 Loan origination volume dropped 26% to $21.6

Principal 353

Principal Banks Loans Lending 353

Housing Wire

MAY 6, 2022

The firm’s earnings were driven by its servicing portfolio and about $520 billion in unpaid principal balance, said David Spector, chairman and chief executive officer of PennyMac in an earnings call. billion in unpaid principal balance, down 36% from the previous quarter and 32% from the first quarter of 2021. million, down from $106.5

Principal 320

Principal Loans Technology Mortgages 320

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 101

Equity Finance Loans Closing costs 101

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgages 327

Mortgages VA loan Loans Technology 327

Housing Wire

MARCH 20, 2023

Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated. Today, three of four mortgage loans are issued by independent mortgage companies. The effects of a frozen housing market will be felt far beyond the construction and mortgage industries.

Banks 359

Banks Mortgages Fixed-rate mortgage Loans 359