Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

Loans 441

Loans Fixed-rate mortgage Principal Renovation 441

Housing Wire

SEPTEMBER 29, 2023

homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme.

Mortgages 494

Mortgages Principal Brokerage Finance 494

Housing Wire

AUGUST 10, 2022

Ginnie Mae and the Federal Housing Administration are looking to take a bigger bite out of manufactured housing finance. The FHA’s Title I program — currently the only game in town for government-backed financing of manufactured homes titled as personal property — has a maximum loan amount of $93,000 for a manufactured home and land.

Principal 370

Principal Title Finance Loans 370

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

VA loan 440

VA loan Loans Principal Mortgages 440

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. million in unpaid principal balance; pool 2 is at $342.5 The reperforming-loan sale is slated to close by late October 2022, after due-diligence period.

Loans 374

Loans Purchase and sale agreement Principal Due diligence 374

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. Gain-on-sale margins marginally recovered to 1.29% in the first quarter, up from 1.23% in the previous quarter. million in pretax income. This is not a race to get bigger.

Mortgages 358

Mortgages Equity Principal Finance 358

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. Market conditions have certainly trended downward for residential or commercial real estate.

Commercial 361

Commercial Brokerage Due diligence Title 361

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 billion, according to a presale report by Kroll Bond Rating Agency (KBRA). billion for the $12.2 million.

Principal 400

Principal Loans Investor Mortgages 400

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. These clients are typically low on funds, which is why they need this type of financing. It would be a disaster for FHA and VA homebuyers,” Evan Potter, branch production manager at Revolution Mortgage.

VA loan 437

VA loan Agents Seller concession FHA loan 437

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.”. How Freddie Mac is addressing affordable housing challenges.

Loans 441

Loans Title Finance Lending 441

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 411

Technology Development Title Lending 411

Housing Wire

NOVEMBER 2, 2023

However, gain-on-sale margins posted for the third quarter of 2023 were 276 points, up from the previous quarter’s 267 points. “We This was the result of strong execution and continued expansion in the gain-on-sale margin.” billion of unpaid principal balance to its portfolio. Rocket generated $22.2 billion in Q2 2023.

Principal 398

Principal Loans Technology Mortgages 398

Housing Wire

JANUARY 22, 2024

In November of 2019 the number of single-family homes for sale was at 6,000. The market in Indianapolis is very cyclical,” Carrie Holle, Realtor and principal of the Carrie Holle Group with Compass , told HousingWire. Indianapolis is more affordable than much of the country. 19, down from 54.79% on Nov. 10, 2023. “The

Marketing 386

Marketing Principal Land Mortgages 386

Housing Wire

APRIL 24, 2024

The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lender, and it is spearheaded by Ryan Schmidt, FAR’s vice president of partner engagement. With the right ambassador, that task is made simpler.

Mortgages 315

Mortgages Loan Officer Principal Loans 315

Housing Wire

SEPTEMBER 21, 2023

If mortgage rates trend down in 2024 as we anticipate, the combination of more homes for sale and somewhat lower rates should support stronger purchase volume,” Mike Fratantoni, SVP and chief economist at the MBA. MBA’s mortgage finance forecast projected the 30-year fixed mortgage rate to decline to 5.4% in 2024 and 5.1%

Banks 368

Banks Mortgages Principal Commercial 368

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. The report was based on unnamed sources and indicated the sales were being handled “inhouse.” billion based on the unpaid principal balance (UPB), down from $679.2

Principal 394

Principal Loans Banks Mortgages 394

Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. Sixteen percent of home modifications in Q1 were modifications with principal forbearance, the report said.

VA loan 330

VA loan FHA loan Fixed-rate mortgage Principal 330

Housing Wire

JULY 27, 2023

High mortgage rates have triggered a rate lock-in effect across the country – disincentivizing homeowners to move and finance their new home with higher rates. Existing home sales dropped to a seasonally adjusted annual rate of 4.16 Year-over-year, sales dipped 18.90% from 5.13 million in June from the previous month.

Construction 351

Construction Mortgages Sales Banks 351

Housing Wire

MAY 4, 2023

Through Rocket’s “Buy+ program, clients who obtain purchase financing from Rocket Mortgage and find a home with a Rocket Homes partner real estate agent, will receive a credit equal to 1.5% Gain-on-sale margins posted in the first quarter were 239 basis points, up from 217 basis points in the previous quarter. Rocket reported $8.1

Principal 372

Principal Closing costs Mortgages Closing 372

Housing Wire

NOVEMBER 7, 2023

loanDepot had “lower pull through weighted lock volume partially offset by higher pull through weighted gain-on-sale margin.” The pull-through gain-on-sale margin was 2.93% in the third quarter, better than the 2.85% registered in the previous quarter. Servicing loanDepot’s unpaid principal balance increased to $143.9

Principal 394

Principal Loans Sales Mortgages 394

Housing Wire

APRIL 30, 2024

IRS Tells Couple: “You Don’t Own Your Home” After purchasing their home from an individual who had acquired it from an IRS auction, a couple found out the government agency had rescinded the original sale. However, the notion that title insurance is in any way a principal driver of affordability challenges is misguided.

Title 338

Title Due diligence Title search Principal 338

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 Rocket Companies ($1 billion), United Wholesale Mortgage ($453.2

Principal 352

Principal Banks Loans Lending 352

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 90

Finance FHA loan Investor Loans 90

Housing Wire

AUGUST 4, 2022

There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. The loan must be secured by a principal residence. The borrower must make a 3% contribution from other sources of funding. Fannie Mae did not respond to a request to comment.

Principal 488

Principal Loans Banks Closing costs 488

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 325

Marketing Principal Banks Loans 325

Housing Wire

JANUARY 19, 2022

To be eligible for a desktop appraisal, according to Fannie Mae , the loan must be a purchase transaction, secured by a one-unit principal residence and have a loan-to-value ratio of no more than 90%. Desktop appraisals will become an option for some agency-backed loans submitted after March 19.

Inspection 414

Inspection Principal Loans Renovation 414

Housing Wire

AUGUST 2, 2021

More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Finance of America Reverse. Principal and Chair, Financial Instituions Regulatory Practice Group. Head Strategy and Sales. VP, Sales Training.

Title 393

Title Lending Finance Technology 393

Housing Wire

FEBRUARY 23, 2024

“Our decision to offboard a significant number of unproductive agents during the fourth quarter resulted in a decrease in our agent count quarter-over-quarter, the retention of our most productive agent cohorts remained excellent,” Kent Cheng, principal financial officer at eXp World Holding, said.

Agents 362

Agents Principal Residential Sales 362

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 352

Principal Loans Lending Finance 352

Housing Wire

MAY 3, 2022

That increase can reduce the risk of loan impairment — since borrowers with more equity are less likely to default — and lead to new cash-out refis for even higher principal amounts. Increasing home prices also adds to the amount Fannie Mae can recover from the underlying property in a foreclosure sale. trillion in 2021 to $2.82

Mortgages 365

Mortgages Marketing Equity Loans 365

Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. In a flash, millions of Americans lost their jobs and incomes.

Mortgages 413

Mortgages Principal Loans Finance 413

Housing Wire

SEPTEMBER 16, 2022

Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest. billion during that same period and the gain-on-sale margin also fell to 2.92% from 3.01%. in the first year of their loan, Rocket said. Loan origination volume dropped to $34.5

Mortgages 391

Mortgages Seller concession Fixed-rate mortgage Loans 391

Housing Wire

NOVEMBER 8, 2023

California lender Guild M o rtgage reported an increased profit in the third quarter despite high mortgage rates and limited home sales inventory. But the gain-on-sale margin on originations rose 22% to 377 in Q3, up from 310 over Q2. “We billion in unpaid principal balance as of Sep. million net income in the previous quarter.

Principal 369

Principal Loans Mortgages Industrial 369

Housing Wire

SEPTEMBER 22, 2022

Marty Green, principal with mortgage law firm Polunsky Beitel Green , described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”. The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies.

Mortgages 400

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 400

Housing Wire

MAY 6, 2022

“Origination volumes and gain on sale margins were compressed compared to prior quarters, consistent with broader industry trends,” Mary Ann McGarry, Guild’s CEO , said during a call with analysts on Friday morning. billion in unpaid principal balance, up 3% quarter over quarter and 16% year over year.

Mortgages 354

Mortgages Principal Finance Loans 354

Housing Wire

AUGUST 8, 2023

million in the previous quarter, “primarily driven by higher pull through weighted lock volume and gain on sale margin,” the company told investors. The gain-on-sale margin came in at 2.85% in the second quarter, better than the 2.26% registered in the previous quarter. Total revenues increased to $271.8 million in Q1 2023.

FHA loan 299

FHA loan Principal Lending Loans 299

Housing Wire

MARCH 24, 2022

Lopa Kolluri, principal deputy assistant secretary at the FHA, said during the webinar that any approach will include a “thorough dialogue with [Native American tribes].” Down payment assistance programs that housing finance agencies operate are constrained to individual states. ” The murky past of DPA programs.

FHA loan 384

FHA loan Finance Loans Development 384