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.”

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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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Housing Wire

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. A] reverse mortgage is a loan where you can borrow money against the value of your house,” Woods explained. “So,

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Housing Wire

APRIL 24, 2024

million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 Strong volume increases in our consumer and broker direct channels drove continued profitability in our production segment.” The company’s loan production pretax income was $35.9 million in Q1 2023.

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Housing Wire

JULY 12, 2023

Mike Cagney’s Figure Technologies announced a collaboration with CMG Financial , CrossCountry Mortgage , Fairway Independent Mortgage and The Loan Store as private-label partners. A five business day funding timeline assumes closing the loan with Figure’s remote online notary.

Equity 369

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Housing Wire

MARCH 28, 2024

The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. The lender posted production of $3 billion across 8,569 loans in full year 2023.

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Housing Wire

APRIL 8, 2024

Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). to 185 loans, while the Southwest increased 15% to 230 loans.

Mortgages 430

Mortgages Seller concession Loans Equity 430

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% Home Equity Conversion Mortgage (HECM) endorsements fell 11.8%

Mortgages 438

Mortgages Seller concession Principal Loans 438

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).

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Mortgages Loans Equity Principal 430

Housing Wire

APRIL 23, 2024

According to Martell , the mortgage market’s origination volume totaled $4 trillion in both 2020 and 2021, and “unfortunately” the decline in loan production “is not going to be cured by a 50-basis-point reduction” in mortgage rates. The company now has a digital HELOC offering. Speed is critical.

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Mortgages Technology Equity Renovation 379

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. Temporary rate buydowns have become a popular concession, especially among homebuilders, in which one out of 10 loans feature a seller-paid buydown, said Peter Idziak, senior associate at Polunsky Beitel Green. over asking price. High octane stuff.

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Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. trillion year over year.

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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 HMBS issuance in 2023 came out to $6.5

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Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 We’ll probably trade a little over $1.2

Equity 432

Equity Lending Fixed-rate mortgage Loans 432

Housing Wire

MARCH 18, 2024

A national syndicated columnist has taken a closer look at the reverse mortgage product category after reviewing data from the Consumer Financial Protection Bureau (CFPB) about the industry’s advertising practices , and she says that the product can have utility for older Americans as long as a prospective borrower properly understands it.

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Housing Wire

JANUARY 9, 2024

Importantly, homeowners can also include 50% of their estimated rental income when applying for an FHA renovation loan to construct an ADU, which helps with DTI constraints. Draw structures for loans supporting new construction of ADUs, especially for prefab, are still “clunky.”

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Housing Wire

JANUARY 11, 2023

A handful of companies began offering crypto-backed mortgage products earlier last year after cryptocurrency emerged as a popular asset class. The early entrants into the market — including Milo and Figure Technologies — made loans equal to 100% of the borrower’s cryptocurrency value with no down payment required.

Lending 421

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Housing Wire

APRIL 8, 2024

The provision in state law which permitted these forms of consumer counseling on reverse mortgage loans expired on March 31st via sunset,” the call explained. who has been a critical figure in the advocacy for a permanent solution — said it could happen this time. That exception expired at the end of the day on Mar.

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Mortgages Equity Banks Industrial 402

Housing Wire

FEBRUARY 22, 2023

. “By integrating Roostify’s digital mortgage technology platform with CoreLogic’s robust data, analytics and workflow solutions, clients will gain critical information about borrowers and properties at the beginning of the loan process, saving both time and money,” CoreLogic said in a statement on Wednesday.

Mortgages 384

Mortgages Technology Banks Lending 384

Housing Wire

JUNE 1, 2023

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. We spoke to multiple loan officers and Washington, D.C.-based

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Housing Wire

APRIL 26, 2022

Karl Jacob, CEO and co-founder of LoanSnap , said the cyrpto-mortgage system his company has developed can originate more than just loans that LoanSnap mints. Our system I think is good enough that it can do not just the loans that we originate, but [loans originated by] other people,” Jacob said. It’s an open platform.

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Housing Wire

JANUARY 30, 2024

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

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Housing Wire

MAY 10, 2022

The current volatility, combined with the likelihood of additional rate hikes on the horizon, has caused originators to focus on the purchase market as well as non-agency loan products like non-QM. KPI – Cost to originate a loan: In the manufacturing industry, it’s common to analyze standard costs.

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Housing Wire

FEBRUARY 28, 2021

The lending industry is notorious for its poor customer retention – in fact, only 1 in 5 borrowers return to their original lender for a subsequent loan. trillion in mortgage loans, making 2020 the industry’s biggest year since 2003. Lenders need to figure out now how they will retain borrowers in this increasingly competitive market.

Sales 384

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Housing Wire

APRIL 28, 2022

The current volatility, combined with the likelihood of additional rate hikes on the horizon, has caused originators to focus on the purchase market as well as non-agency loan products like non-QM. Cost to originate a loan: In the manufacturing industry, it’s common to analyze standard costs.

Industrial 370

Industrial Mortgages Loans Equity 370

Housing Wire

MARCH 28, 2022

The figures are drawn from the prime and nonprime (or non-QM) residential mortgage-backed securities deals tracked by Kroll Bond Rating Agency (KBRA). UWM recently rolled out bank statement loans targeting the self-employed as well as investor loans. Several other big nonbanks have investor loan products as well.).

Loans 370

Loans Lending Investor Mortgages 370

Housing Wire

MAY 10, 2022

Loan origination volume dropped 26% to $21.6 While loanDepot doesn’t expect to be profitable this year, the firm plans to generate more purchase volume, hedge its servicing portfolio, and add new products and services. . Rate lock volume in the first three months of 2022 dropped 13.7% to $30 billion from $34.8

Principal 410

Principal Loans Equity Mortgages 410

Housing Wire

NOVEMBER 8, 2021

this past September was minimal in comparison with the numbers of forward mortgage lenders and vendors, on c-level executive of a major mortgage company devoted some of her time on a panel at the event to discussing the importance of reverse mortgages to a fully and diverse product suite. Kathryn Amor. “We

Finance 383

Finance Mortgages Lending Equity 383

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. After dropping from $1.2 That’s it.

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Loan Officer Loans Equity Mortgages 410

Housing Wire

FEBRUARY 8, 2022

In the past, we did 97% of our production in California,” Yoon said. About 85% to 90% of our overall production is non-QM,” Yoon added. Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. A non-prime mortgage is essentially the same as a non-QM loan.

Marketing 370

Marketing Lending Loans Bankruptcy 370

Housing Wire

MARCH 17, 2021

Building brand equity became first and foremost…we really tried to define at the most granular level what our strengths, weaknesses, opportunities, and threats were in order to shape our direction forward.”. As the ominous gloom of 2020 unfolded, almost every company in every industry had to adapt to a new way of doing business.

Marketing 385

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Housing Wire

NOVEMBER 1, 2022

UWM is expected to top that figure, generating $30 billion this quarter. According to Rocket, the lender has more than 100,000 agents who use its two-year-old service, which allows them to check on the status of clients’ loans and get contact information for team members, the Journal reported. . Cash-out refis, new products.

Marketing 432

Marketing Loans Mortgages Finance 432

Housing Wire

JANUARY 27, 2021

They also offer a home equity platform for home equity loan applications and HELOCs under the same umbrella. According to the San Francisco-based startup, the company boasts about 200 lending institutions on its platform, and handles $50 billion in loan volume every month.

Lending 370

Lending Technology Equity Loan Officer 370

Housing Wire

SEPTEMBER 5, 2023

What parts of the mortgage loan process have been the most resistant to digitization up to this point? It’s also helping those borrowers find the right products. Sarah Wheeler: ICE’s acquisition of Black Knight just closed today. What is top of mind for you moving forward?

Technology 397

Technology Mortgages Loans Industrial 397

Housing Wire

FEBRUARY 8, 2021

billion is a healthy number, it’s a far cry from the figure loanDepot floated when it first made noise about an IPO in the fall. billion is a healthy number, it’s a far cry from the figure loanDepot floated when it first made noise about an IPO in the fall. billion valuation later this week. The company generated $1.47

Lending 458

Lending Branding Mortgages Loans 458

Housing Wire

FEBRUARY 1, 2023

They are a very underutilized product,” Nunziata added, “but I think they’re a great product. It varies a little bit based on loan amount and interest rate but … a pretty good rule of thumb is a [2-1] buydown will typically cost the seller about 2.25 percentage points of the loan amount,” Nunziata said. “It

Marketing 410

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Housing Wire

MARCH 3, 2023

“In response to significant increases in interest rates, our loan origination volume in 2022 decreased by 44% and our number of team members decreased by 25% as compared to the prior year end. Reduced borrowing capacity When refinancing business was plentiful in 2021, Rocket originated $351 billion in loans overall.

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Loans Mortgages Principal Title 364