Housing Wire

APRIL 19, 2022

Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. For now, only borrowers financially impacted by the pandemic can opt for the loss mitigation option, and it may only be used in combination with a partial claim option.

Loans 488

Loans Principal Mortgages Real-estate owned 488

Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. These clients are typically low on funds, which is why they need this type of financing.

VA loan 450

VA loan Agents Seller concession FHA loan 450

Housing Wire

JULY 21, 2022

With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples.

Bankruptcy 393

Bankruptcy Banks Pre-approval Principal 393

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 393

Mortgages Loan Officer Lending Principal 393

Housing Wire

JUNE 28, 2022

The offering includes a two-year revolving term during which principal payoffs on the underlying loans can be reinvested in purchasing additional newly originated loans. billion in originations, up nearly 78% from 2020, according to a recent report by Inside Mortgage Finance (IMF). billion, according to IMF.

Investor 378

Investor Principal Loans Lending 378

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 502

Banks Lending Loans Principal 502

Housing Wire

JANUARY 10, 2022

Currently, the lender ranks sixth place among the top wholesale lenders in the nation, though its rebranding could signal that PennyMac is looking to increase its market share in the wholesale lending space. In the wholesale lending space, there has been a notable push to entice brokers to come onboard. As of Sept.

Principal 382

Principal Lending Loans Technology 382

Housing Wire

DECEMBER 13, 2023

Net issuance in MBS represents new securities issued less the decline in outstanding securities due to principal paydowns or prepayments. The unit does warehouse and MSR lending “and really anything that relates to lending to IMBs [independent mortgage banks],” according to Clark.

Mortgages 404

Mortgages Marketing Banks Investor 404

Housing Wire

MARCH 3, 2022

. “Whether it is a natural disaster, a job loss, or an illness, forbearance is wildly effective,” John Lawrence, executive vice president of the Texas-based servicer Selene Finance , said last week during the Mortgage Bankers Association (MBA) Servicing Conference in Orlando. So, it may start to come down.

Principal 370

Principal Loans Lending Finance 370

Housing Wire

OCTOBER 2, 2023

Purchase loans comprised about 82% of overall mortgage lending in 2023 and ICE forecasts purchase lending to continue to dominate the market through next year. The high-interest rate environment continues to put downward pressure on mortgage origination activity.

Mortgages 414

Mortgages Equity Lending Principal 414

Housing Wire

AUGUST 11, 2022

Our lenders could elect to declare outstanding amounts due and payable, terminate their commitments, require the posting of additional collateral and enforce their interests against existing collateral, as well as triggering cross-default provisions under other financing facilities,” loanDepot’s SEC filing states. billion.

Loans 393

Loans Principal Lending Mortgages 393

Housing Wire

OCTOBER 12, 2021

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. Additionally, the lawsuit claims that PNC’s practices violated the Maryland Consumer Protection Act (MCPA).

Banks 382

Banks Principal Loans Lending 382

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

APRIL 27, 2023

Lending and servicing organizations turn to EarnUp to reduce risk and streamline operations. EarnUp’s suite of products include a smart financial wellness program with a digital user experience that enables borrowers to schedule loan payments to sync with their payday and accelerate payments to principal.

Technology 381

Technology Lending Principal Loans 381

Housing Wire

AUGUST 8, 2023

“While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said. million.

FHA loan 370

FHA loan Principal Lending Loans 370

Housing Wire

JANUARY 30, 2024

“There are some [smaller] companies that have sold a lot of their MSRs and now have to turn that corner to real profitability, and they don’t have that piggybank to draw from,” said Charley Clark , a senior vice president and mortgage warehouse finance executive at EverBank (formerly known as TIAA Bank ).

Marketing 404

Marketing Principal Banks Loans 404

Housing Wire

MAY 1, 2023

For instance, with higher-priced mortgages, lenders need to verify the consumer’s ability to repay, ensure there is no prepayment penalty and make sure escrow taxes and insurance payments are paid each month along with the loan’s principal and interest. That’s a lot of calculations and obligations just for federal compliance.

Loans 382

Loans Lending Technology Principal 382

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. The holding company will invest in finance, insurance, and real estate businesses. Chicago-based mortgage originator Interfirst Mortgage Co. Since 2004, they claim to have created $4 billion in equity value to investors.

Mortgages 396

Mortgages Investor Loan Officer Principal 396

Housing Wire

MARCH 7, 2024

Keith Lind , CEO of Acra Lending , a leading non-QM lender, said the PLS market is “fully healthy and functional, and I think it’s going to get better.” “There’s a lot of demand from investors that want to buy these bonds backed by non-QM, but there’s only so many loans to be bought to securitize,” Lind said.

Investor 414

Investor As-is Commercial Equity 414

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 86

Finance FHA loan Investor Loans 86

Housing Wire

MAY 13, 2024

McCain, HUD’s principal deputy secretary for fair housing and equal opportunity, said in a statement. Rocket will also provide fair lending training to its employees and improve outreach regarding the financing options available for properties within the boundaries of Native American reservations.

Lending 407

Lending Land Principal Finance 407

Housing Wire

NOVEMBER 2, 2023

Rocket’s servicing book unpaid principal balance, which includes subserviced loans, was $506 billion as of Sept. billion of unpaid principal balance to its portfolio. AI will be at the center of how clients buy, sell and finance homes,” Krishna said. Rocket’s liquidity improved in Q3 to $8.7 billion from $8.6

Principal 414

Principal Loans Technology Mortgages 414

Housing Wire

OCTOBER 31, 2022

“The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report.

Industrial 382

Industrial Mortgages Principal Loans 382

Housing Wire

MAY 27, 2022

“Creditors who use complex algorithms — including artificial intelligence or machine learning technologies — to engage in credit decisions must still provide a notice that discloses the specific, principal reasons for taking adverse actions,” CFPB said in a news release. There is no exception,” it added.

Lending 414

Lending Principal Technology Mortgages 414

Housing Wire

JULY 20, 2023

Inside Mortgage Finance (IMF) estimates lenders originated $37 billion in jumbo loans from January to March 2023, down from $58 billion in the previous quarter and $133 billion in the same period last year. Mills particularly worries about the impacts on the MSR market and warehouse lending. trillion in unpaid principal balance.

Mortgages 370

Mortgages Banks Marketing Residential 370

Housing Wire

JULY 29, 2022

Offering these adjacent products also enables additional revenue flow for the mortgage company, which allows them to focus more on enhancing their principal products instead of cutting costs – something everyone benefits from. HW: How can partnering with a nationally recognized insurance company improve borrower engagement for lenders?

Principal 393

Principal Branding Lending Mortgages 393

Realtor.com

MARCH 15, 2021

This mandated seller financing package appears to me to be like subprime lending even though my wife and I have 750 and above credit scores and could qualify for today’s low mortgage rates. We are basically paying mostly all-interest payments and only reducing the principal balance by only about $1,160 during the whole first year.

Finance 70

Finance Due diligence Fixed-rate mortgage Lending 70

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. The data includes closed-end (excluding reverse mortgage) home purchase first-lien mortgages secured by site-built one-to-four-family, principal-residence properties.

Marketing 370

Marketing Loans Principal Mortgages 370

Housing Wire

FEBRUARY 7, 2023

Driving home the concern over MSR pricing declines is a recent advisory bulletin issued by the Federal Housing Finance Agency (FHFA), which overseas Fannie Mae and Freddie Mac. Keith Lind, CEO of Acra Lending Keith Lind, CEO of California-based non-QM lender Acra Lending , the mortgage origination arm of Citadel Servicing Corp.

Investor 302

Investor Finance Loans Mortgages 302

Housing Wire

DECEMBER 14, 2022

Mortgage rates are taking the Fed’s move as a clear indication that the pace of interest rate increases will be moderate, and the market is hopeful that any increases in 2023 will be in the more typical 25 basis point increments, Marty Green, principal at Polunsky Beitel Green , law firm for residential mortgage lenders, said.

Mortgages 414

Mortgages Residential Principal Lending 414

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath.

Marketing 302

Marketing Loan Officer Mortgages Lending 302

HomeLight

DECEMBER 27, 2023

Your monthly mortgage payment has two main components : the principal (the amount you’ve borrowed) plus interest (the lender’s charge for lending you money), according to the Consumer Financial Protection Bureau (CFPB). That starts with determining what it will take to pay off your mortgage.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Housing Wire

JULY 27, 2021

The CSBS liquidity requirements also conform to the requirements the Federal Housing Finance Agency already has. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 370

Principal Banks Mortgages Loans 370

HomeLight

AUGUST 31, 2022

Borrowers can finance closing costs into their new mortgage by increasing the loan amount, or by subtracting the expense from the proceeds of their cash-out refinance. Because it’s an installment loan, the couple receives all the funds upfront and pays back principal and interest on a pre-set schedule, usually over five to 15 years.

Equity 103

Equity Finance Loans Closing costs 103

Housing Wire

FEBRUARY 8, 2022

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. Another possibility consisted of changing rates, principal balance or length of the mortgage via a loan modi?

Loans 370

Loans Pre-approval Mortgages Principal 370

Housing Wire

FEBRUARY 28, 2024

billion in unpaid principal balance (UPB), compared to $312.4 Margins were close to the 99 bps level before the launch of the Game On pricing initiative in June 2022. UWM’s servicing portfolio ended the fourth quarter of 2023 at $299.4 billion in the same quarter of 2022.

Loans 414

Loans Principal Mortgages Closing 414

Housing Wire

NOVEMBER 9, 2022

Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now. In September alone, IMBs slashed some 8,200 jobs, a recent Inside Mortgage Finance analysis of U.S. Some 80% of the volume in our industry is done by about 40% of the LOs. Andrew Rhodes, Sr.

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404