Housing Wire

OCTOBER 2, 2023

Real estate investment trust Rithm Capital Corp has entered into a definitive agreement to acquire Computershare Mortgage Services Inc. The deal includes the purchase of Specialized Loan Servicing LLC. It includes $85 billion in third-party servicing and the Specialized Loan Servicing’s MSR portfolio. Rithm had 1.8

Mortgages 403

Mortgages Loans Principal Finance 403

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million; and pool 3, $312.9

Loans 379

Loans Purchase and sale agreement Principal Due diligence 379

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. In its mortgage division, Rithm recorded a total pretax income of $408.1 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.

Mortgages 377

Mortgages Equity Principal Finance 377

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Loans 488

Loans Principal Mortgages Real-estate owned 488

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. Today, roughly $1.5

Finance 342

Finance Equity Mortgages Principal 342

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% compared to the prior month.

Mortgages 313

Mortgages Finance Equity Principal 313

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

Loans 442

Loans Title Finance Lending 442

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.

Mortgages 333

Mortgages Loan Officer Principal Loans 333

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 360

Mortgages Loans Equity Principal 360

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 Reverse mortgages are utilized by approximately 2% of the total addressable market,” she said. “As

Mortgages 345

Mortgages Marketing Equity Finance 345

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 362

Loan Officer Principal Loans Mortgages 362

Housing Wire

APRIL 24, 2024

HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected.

Principal 424

Principal Due diligence Lending Title 424

Housing Wire

MAY 13, 2024

Rocket Mortgage , the third largest U.S. mortgage lender, has entered into a conciliation agreement with the U.S. Consequently, the borrowers got a mortgage from another lender on less favorable terms and higher interest rates. McCain, HUD’s principal deputy secretary for fair housing and equal opportunity, said in a statement.

Lending 310

Lending Land Principal Finance 310

Housing Wire

AUGUST 11, 2022

Mortgage lender loanDepot , based in Orange County, California, has more bad news tucked away in its latest quarterly earnings report filed with the U.S. We generate a sizeable portion of our revenues from refinance and purchase mortgages,” loanDepot’s SEC filing states. “As million, following on the heels of $91.3 billion. “As

Loans 393

Loans Principal Lending Mortgages 393

Housing Wire

MAY 17, 2024

Financial planners are an important referral source for reverse mortgage professionals, and Finance of America (FOA) vice president of retirement strategies Steve Resch has been at the head of the company’s conversations with planners to help them understand how much utility a reverse mortgage could have for improving a client’s retirement.

Mortgages 385

Mortgages Industrial Equity Principal 385

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit. million. .

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgages 441

Mortgages Loan Officer Loans Equity 441

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. 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.

Mortgages 450

Mortgages Fixed-rate mortgage Equity Loans 450

Housing Wire

MAY 1, 2023

We’ve asked Phillip McCall, president and chief operating officer at ACES Quality Management , how lenders can keep up with new and upcoming regulations to maintain loan quality in this very competitive environment. Ensuring that creativity doesn’t compromise compliance takes serious research and constant QC system updating.

Loans 330

Loans Lending Technology Principal 330

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.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.” This represents $15.6

Mortgages 404

Mortgages Bankruptcy Principal Finance 404

Housing Wire

SEPTEMBER 29, 2023

And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306 , according to Black Knight ’s mortgage monitor report.

Mortgages 499

Mortgages Principal Brokerage Finance 499

Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week. Before joining FHFA, Valverde served at the U.S. from Yale Law School.

Principal 305

Principal Finance Banks Loans 305

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. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 441

VA loan Loans Principal Mortgages 441

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained almost unchanged in July, nudging up 0.1 in June, according to CoreLogic ’s Loan Performance Insights. Alaska, New York, Oklahoma and West Virginia posted the biggest improvements on mortgage delinquencies. percentage point to 2.7% Overall U.S. Overall U.S.

Mortgages 394

Mortgages Staging Equity Principal 394

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 346

Mortgages Marketing Banks Investor 346

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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 loan 445

VA loan Agents Seller concession FHA loan 445

Housing Wire

DECEMBER 6, 2023

In September 2022, the 30-year fixed mortgage rate averaged 6.1%, according to Freddie Mac data. But compare mortgage delinquencies over the same period: 2.8% But compare mortgage delinquencies over the same period: 2.8% If the labor market weakens in the coming months, expect further increases in mortgage delinquencies.”

Mortgages 425

Mortgages Principal Staging Loans 425

Housing Wire

MARCH 5, 2024

Sanjiv Vas, former CEO of Caliber Home Loans , has joined the board of directors at Two Harbors Investment Corp , a Minnesota-based real estate investment trust that expects to launch a mortgage originations platform in the second quarter of 2024. Before joining Pagaya, Vas was CEO of Caliber Home Loans.

Principal 327

Principal Commercial Loans Mortgages 327

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well. trillion portfolio of MBS.

Mortgages 411

Mortgages Banks Loans Industrial 411

Housing Wire

MAY 3, 2022

Fannie Mae , the government-sponsored enterprise that backs the majority of conventional mortgages, is not immune to the sharp decline in mortgage refinances. Fannie Mae’s net income decrease was mainly due to the expense of managing credit risk on mortgage loans. The enterprise reported $7.5 billion this quarter.

Mortgages 374

Mortgages Marketing Equity Loans 374

Housing Wire

SEPTEMBER 6, 2023

In the face of spiking interest rates and historically high home prices , $3,000 monthly mortgage payments are common in today’s housing market. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter. That’s before taxes and insurance are factored in (an average of $550 a month).

Equity 403

Equity Mortgages Principal Loans 403

Housing Wire

AUGUST 11, 2022

a real estate investment trust (REIT) based in Mill Valley California that has residential operations focused on nonagency jumbo loans, recently reported a second-quarter 2022 net loss of $100 million, after recording a net gain of $31 million in the prior quarter. Likewise, Atlanta-based A ngel Oak Mortgage Inc. , The Angel Oak Cos.

Mortgages 379

Mortgages Loans Residential Lending 379

Housing Wire

MAY 10, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $300 million unrated securitization of residential transition loans (RTLs), the company announced on Friday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 304

Closing Principal Investor Residential 304

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 deals will transfer a combined $926 million of mortgage credit risk to private insurers and reinsurers. million on CIRT 2023-3.

Loans 287

Loans Principal Mortgages Design 287

Housing Wire

OCTOBER 11, 2023

s $720 million acquisition of Computershare Mortgage Services Inc. 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.

Principal 414

Principal Loans Investor Finance 414

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Mortgages 449

Mortgages Fixed-rate mortgage Loans Loan Officer 449