Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership.

Finance 321

Finance Equity Mortgages Principal 321

Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 HECM market share of HECM-backed Securities (HMBS) on the issuer league tables compiled by New View Advisors.

Mortgages 323

Mortgages Marketing Equity Finance 323

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 322

Marketing Principal Banks Loans 322

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. Charting the loan officer exit. Last night, my Uber driver was a loan officer.”

Loan Officer 402

Loan Officer Loans Mortgages Industrial 402

Housing Wire

MAY 8, 2024

mortgage lender Newrez , owned by asset manager Rithm Capital , is imposing a round of layoffs to its workforce following the acquisitions of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). The layoffs include mortgage professionals such as processors, underwriters and loan officers.

Loan Officer 339

Loan Officer Principal Loans Mortgages 339

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 440

VA loan Loans Principal Mortgages 440

Housing Wire

APRIL 24, 2024

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 422

Principal Due diligence Lending Title 422

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

Equity 487

Equity Marketing Loans Bankruptcy 487

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 323

Mortgages Marketing Banks Investor 323

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 435

VA loan Agents Seller concession FHA loan 435

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

Loans 282

Loans Marketing Due diligence Residential 282

Housing Wire

MAY 3, 2022

Fannie Mae’s net income decrease was mainly due to the expense of managing credit risk on mortgage loans. And, as mortgage terms lengthen, so too does the cost of possible loan impairment or credit loss. That’s because as fixed-term mortgage rates rise, borrowers are less likely to prepay, or refinance, their mortgages.

Mortgages 363

Mortgages Marketing Equity Loans 363

Housing Wire

OCTOBER 11, 2023

allows the company to improve its fee-based income as the deal includes the purchase of Specialized Loan Servicing LLC (SLS). “The The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 391

Principal Loans Investor Finance 391

Housing Wire

MARCH 27, 2023

The deals, which include over $31 billion in single-family mortgage loans, are designed to reduce risk to taxpayers by increasing the role of private capital in the mortgage market. The loans in the pool are primarily fixed-rate, 30-year term, fully amortizing mortgages. These are the second and third CIRT deals of 2023.

Loans 270

Loans Principal Mortgages Design 270

Housing Wire

FEBRUARY 1, 2023

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. percentage points of the loan amount,” Nunziata said. The second year you’re going to save $250 a month as opposed to $60.

Marketing 404

Marketing FHA loan Loans Mortgages 404

Housing Wire

MAY 7, 2024

Finance of America Companies (FOA), which controls the outgoing brands Finance of America Reverse (FAR) and American Advisors Group (AAG), recorded a net loss under generally accepted accounting principles (GAAP) of $16 million in Q1 2024 and an adjusted net loss of $7 million for the quarter, according to a recently released earnings report.

Branding 350

Branding Finance Principal Loans 350

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 337

Mortgages Loans Equity Principal 337

Housing Wire

APRIL 24, 2024

Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. After I transitioned into wholesale marketing, we had very few resources. I knew the first thing we needed to do was to combine our training and marketing approach,” he said.

Mortgages 312

Mortgages Loan Officer Principal Loans 312

Housing Wire

SEPTEMBER 10, 2022

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 The average loan balance in the reference pool is $315,272, with the maximum balance at $1.56

Principal 398

Principal Loans Investor Mortgages 398

Housing Wire

MAY 9, 2024

This is according to data compiled by Reverse Market Insight (RMI). The refi market continues to be anemic as higher rates are persisting, with refi volume dropping 3.4% HMBS issuance The top HMBS issuer for April was Finance of America Reverse (FAR), which will soon consolidate under the overarching Finance of America brand.

Mortgages 292

Mortgages Finance Equity Principal 292

Housing Wire

SEPTEMBER 29, 2023

In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. According to the brokerage, 6.5% the month prior. The median U.S.

Mortgages 492

Mortgages Principal Brokerage Finance 492

Housing Wire

APRIL 30, 2024

At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year. Rithm’s MSRs mark to market contributed $194.5 The first quarter’s earnings were mainly due to the servicing portfolio, which delivered $219.9 million in pretax income. The company lost $48.6

Mortgages 355

Mortgages Equity Principal Finance 355

Housing Wire

SEPTEMBER 19, 2022

Top lenders who were able to quickly build capacity and take advantage of near-zero interest rates were rewarded with an increase in market share. overall market share in 2021, up from 38.9% In terms of demographics, in a more competitive marketplace, minority borrowers grew in their share of total loans closed.

Marketing 345

Marketing Loans Principal Mortgages 345

Housing Wire

APRIL 15, 2024

A particularly acute concern to Nevadans is the housing market, which is reeling from the combined effects of high inflation and interest rates,” Lombardo said in the letter dated April 11. down payment through a [FHA] loan (principal/interest only) in January 2021, the monthly payment on a median home would have been $1,363.00

FHA loan 370

FHA loan Land Principal Development 370

Housing Wire

JULY 20, 2023

The consensus is that the change would primarily affect the shrinking jumbo market (loans greater than $726,200) and hurt regional banks , sources said. According to George, the rule would impact only the jumbo market, a very high credit quality market.

Mortgages 313

Mortgages Banks Marketing Residential 313

Housing Wire

NOVEMBER 2, 2023

Amid the most challenging mortgage market in decades, Rocket Companies , the parent of Rocket Mortgage , remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels. billion in sold loans through its direct-to-consumer channel, down from $12.4 The company produced $10.3

Principal 396

Principal Loans Technology Mortgages 396

Housing Wire

SEPTEMBER 1, 2023

Pennymac Loan Services and RoundPoint Mortgage Servicing reported this week their customers were exposed to a data breach through the Sovos Compliance software , per filings with the Attorney General in California. Pennymac Loan Services was ranked No. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31.

Principal 312

Principal Loans Mortgages Finance 312

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 393

Principal Loans Investor Industrial 393

Housing Wire

MAY 10, 2023

” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!”

FHA loan 537

FHA loan Loans Principal Mortgages 537

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A UWM is riding that wave.

Marketing 294

Marketing Debt-to-income ratio Loans Mortgages 294

Housing Wire

APRIL 8, 2024

The elevated rate environment has made future refinancing options less clear for borrowers entering the market today, but CFPB also expressed concern over the disproportionate application discount points have on borrowers with lower credit scores. “The GSEs added LLPAs to additional loan types and credit score bands,” he said.

Debt-to-income ratio 410

Debt-to-income ratio Loans Principal Investor 410

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. Economic conditions, however, are opening up space for new entrants eyeing market share. Their retreat opens up opportunities for rival firms to grab market share. Part I explains the jumbo market’s decline.) Part I explains the jumbo market’s decline.)

Banks 301

Banks Marketing Loans Mortgages 301

Housing Wire

APRIL 14, 2023

They [Wells Fargo] may have other deals in the market too,” the expert added, “but I’m not as familiar with that since they have been very selective about who these deals get shown to.” Wells Fargo’s total portfolio of loans serviced as of the end of the first quarter of 2023 totaled $666.8 billion — down by some $500 million.

Principal 391

Principal Loans Banks Mortgages 391

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

Mortgages 308

Mortgages Marketing Loans Banks 308

Housing Wire

JANUARY 12, 2024

The numbers are staggering so it is no surprise that residential proptech is a heady market, capturing the imagination of entrepreneurs and institutions alike. As a marketer by profession, I tend to put these companies into categories to create a narrative and to develop brand specificity. Of these, category 2 is the most established.

Finance 340

Finance Principal Residential Development 340

Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. million to $23.7

Purchase and sale agreement 340

Purchase and sale agreement Marketing Equity Banks 340

Housing Wire

APRIL 24, 2024

“By picking the right partner for cloud and technology, we were able to reallocate resources to other strategically important projects, including building proprietary tools for customer retention, loan modification and onboarding portfolios,” Bray said. Mr. Cooper funded 11,599 loans in the first quarter, totaling approximately $2.9

Equity 283

Equity Lending Principal Technology 283