Housing Wire

APRIL 12, 2024

Compared to Q1 2023, unpaid principal balance (UPB) decreased by 18%. Mortgage earnings Wells Fargo recorded $864 million in revenues related to its home lending business in Q1 2024, a 3% increase from $839 million in the prior quarter slightly above the $863 million posted in the opening quarter of 2023. billion in Q1 2024.

Mortgages 441

Mortgages Banks Fixed-rate mortgage Lending 441

Housing Wire

NOVEMBER 7, 2023

We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own,” Al Donohue, the operating principal, said in a statement on Monday. “We Newrez has 16 joint venture partners, including Carolina One Mortgage, Milestone Home Lending and Summit Home Mortgage, according to its website.

Mortgages 410

Mortgages Principal Brokerage Lending 410

Housing Wire

FEBRUARY 22, 2024

The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending. The unpaid principal balance in its servicing book increased to $509 billion as of Dec.

Mortgages 432

Mortgages Principal Lending Loans 432

Housing Wire

MARCH 1, 2024

Name Job Title Company Name Alan Tiongson VP of Secondary Marketing and Asset Management Constructive Capital (Constructive Loans) Andrew Stringer EVP, Senior Director of Capital Markets PrimeLending Ben Allison Chief Financial Officer Deephaven Mortgage Bryan Charap Chief Financial Officer Realtor.com Cassie Vosburgh Chief Financial Officer ACES Quality (..)

Finance 441

Finance Principal Construction MLS 441

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 384

Principal Lending Loans Technology 384

Housing Wire

JUNE 28, 2023

“Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 397

Industrial Mortgages Principal Loans 397

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 421

Mortgages Equity Lending Principal 421

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb. Presented by: Polly.

Due diligence 384

Due diligence Mortgages Principal Lending 384

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 384

Banks Principal Loans Lending 384

Housing Wire

DECEMBER 7, 2023

Clayton Collins, CEO, HousingWire Watch Now CEO Playbook: NewRez President Baron Silverstein Speakers: Baron Silverstein, CEO, NewRez Sarah Wheeler, Editor in Chief, HousingWire Watch Now PENNYMAC: building B2B channels to a leadership position Speakers: Kim Nichols, Managing Director, Pennymac TPO Brena Nath, HW+ & Events Director, HousingWire (..)

Principal 410

Principal Title Lending Branding 410

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb. Presented by: Polly.

Due diligence 370

Due diligence Mortgages Principal Lending 370

Housing Wire

APRIL 8, 2022

Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I Non-QM is expected to make a resurgence this year, and originators should look toward non-QM lending to help restimulate their business.

Sales 384

Sales Lending Principal Banks 384

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 384

Technology Lending Principal Loans 384

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 496

Loans Principal Mortgages Real-estate owned 496

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

AUGUST 1, 2023

Their collective expertise spans the entire spectrum of the sector, encompassing areas such as lending, tech, real estate, appraisal, compliance, operations, sales and so much more. The following list of honorees comprises many more examples of exceptional leadership from some of the industry’s most accomplished women.

Lending 370

Lending Title Mortgages Equity 370

Housing Wire

MARCH 20, 2024

“Although the timing of the cuts and when they will commence is still an open question, the fact that the recent uneven inflation data did not appear to alter the Fed’s projection of three rate cuts in 2024 is reason for optimism,” said Marty Green, principal at Polunsky Beitel Green.

Industrial 441

Industrial Mortgages Banks Principal 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 450

Technology Development Title Lending 450

Housing Wire

AUGUST 4, 2022

Jay Farner, vice chairman and CEO of Rocket Companies, said the company introduced new lending programs, forged new mortgage partnerships, launched the solar business and expanded the brand to Canada during the quarter. The company’s servicing book unpaid principal balance reached $538 billion at June 30, 2022, up 6% from June 30, 2021.

Principal 410

Principal Lending Mortgages Loans 410

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance. million in fourth-quarter 2023.

Investor 421

Investor Bankruptcy Finance Equity 421

Housing Wire

NOVEMBER 11, 2021

The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.). This nation is in an affordable housing crisis and manufactured housing will be a key part of the solution,” said Lopa Kolluri, principal deputy assistant secretary for housing and the FHA.

Loans 450

Loans Title Finance Lending 450

Housing Wire

MARCH 25, 2022

Presented by: Acra Lending. Pennymac has said it is making an effort to boost its consumer direct lending business. billion in unpaid principal balance in 2021, up 19% from 2020, its latest earnings report showed. In January, the company announced it would invest $3.9 The nonbank reported a record $234.5

Lending 384

Lending Principal Loans Banks 384

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 421

Mortgages Lending Banks Investor 421

Housing Wire

JUNE 2, 2022

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. Movement mortgage employees will complete additional fair lending training as part of the agreement with HUD.

Mortgages 397

Mortgages Loan Officer Lending Principal 397

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 508

Banks Lending Loans Principal 508

Housing Wire

MAY 4, 2023

Those profits were propelled by the company’s significant servicing portfolio, which, while down 1% from the end of 2022, tallied an unpaid principal balance of $603.0 .” Rithm, one of the largest originators and services in the mortgage industry, saw net income drop 15% from the fourth quarter to $89.9 ”

Mortgages 384

Mortgages Principal Lending Investor 384

Housing Wire

AUGUST 11, 2022

We generate a sizeable portion of our revenues from refinance and purchase mortgages,” loanDepot’s SEC filing states. “As As a result, our revenues have decreased substantially, and we experienced net losses for the six months ended June 30, 2022.”. ” The lender wrote in its SEC filing that as of June 30, it had $90.8

Loans 397

Loans Principal Lending Mortgages 397

Housing Wire

MARCH 3, 2022

Here’s how to proactively maintain fair lending. To offer loan deferment, a servicer must defer payment of the total amount of missed payments, including principal, interest, taxes and insurance to the loan maturity date or until a borrower refinances the loan, transfers the property, or otherwise pays off the loan, the VA said.

VA loan 370

VA loan Pre-approval Principal Loans 370

Housing Wire

JUNE 28, 2022

In January, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment. million investment in eOriginal, a digital platform that aims to securely digitize the lending process from the borrower to the secondary market. Specific terms of the deal were not disclosed.

Sales 397

Sales Mortgages Loan Officer Principal 397

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. After a slowdown in lending due to the pandemic, fix-and-flip lenders came roaring back in 2021, boosting originations by more than 73% year over year, to $18.5

Investor 381

Investor Principal Loans Lending 381

Housing Wire

JANUARY 30, 2024

A January report by Mortgage Capital Trading (MCT) indicates that MSR pricing is holding up in the market, but the dollar size of MSR pools is expected to erode some in the year ahead due to principal paydowns on low-rate legacy loans as well as the trend of many lenders retaining less servicing on new production. “As

Marketing 409

Marketing Principal Banks Loans 409

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 421

Investor As-is Commercial Equity 421

Housing Wire

FEBRUARY 7, 2024

The company also announced a deal to acquire Computershare Mortgage Services , including Specialized Loan Servicing (SLS), adding $136 billion in unpaid principal balance (UPB) of MSR. In 2023, Rithm acquired $1.4 The deal is expected to close in first-quarter 2024. “We

Loan Officer 421

Loan Officer Loans Mortgages Principal 421

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. And not just at the federal level.

Loans 384

Loans Lending Technology Principal 384

Housing Wire

SEPTEMBER 1, 2020

On July 24, the CFPB announced consent orders against Sovereign Lending Group, Inc., 26, the CFPB settled with PHLoans , Inc., for advertisements that misrepresented the credit terms of the advertised mortgage loan by stating credit terms that the company was not actually prepared to offer to the consumers, among other deceptive practices.

VA loan 485

VA loan Mortgages Loans Principal 485

Housing Wire

SEPTEMBER 30, 2021

Under this option, the servicer defers repayment of the arrearages (principal, interest, taxes, and insurance) to the loan maturity date or until the borrower refinances the loan, transfers the property, or pays off the loan, the VA said. The original expiration of this option was supposed to occur on Oct.

Loans 410

Loans Principal Lending Industrial 410

Housing Wire

MARCH 3, 2022

But this is going to become infinitely more complex,” said David Sheeler, executive vice president of correspondent lending and servicing finance at Freedom Mortgage Lending. We have so far successfully utilized prepayments and mortgage payoffs from other clients to fund principal and interest advances relating to forborne loans.

Principal 370

Principal Loans Lending Finance 370