Housing Wire

MARCH 5, 2024

For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. Why are there two HECM interest rates used with HECM loans?

Principal 388

Principal Mortgages Loans Equity 388

Housing Wire

JUNE 14, 2022

Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 The nonperforming loans involved in the deal, dubbed FNMA 2022-NPL1 , were divided into two pools, with MCLP the winning bidder for both pools.

Loans 367

Loans Purchase and sale agreement Sales Principal 367

Housing Wire

JUNE 28, 2022

Fannie Mae has announced the winning bidder for the final mortgage pool that was part of its inaugural nonperforming loan sale of 2022 — and it’s nineteenth sale since the i na ugural offering in 2015. The loan pool, dubbed the Community Impact Pool (CIP), includes 120 loans with an unpaid principal balance of $36.3

Loans 381

Loans Purchase and sale agreement Sales Principal 381

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 382

Loans Debt-to-income ratio Banks Mortgages 382

Housing Wire

NOVEMBER 11, 2021

With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.).

Loans 450

Loans Title Finance Lending 450

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 344

Loan Officer Principal Loans Mortgages 344

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 316

Loans Marketing Due diligence Residential 316

Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit.

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

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 517

Equity Marketing Loans Bankruptcy 517

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 367

Mortgages Marketing Banks Investor 367

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 450

VA loan Loans Principal Mortgages 450

Housing Wire

MAY 7, 2024

Those who might benefit most are homeowners who want to access capital without affecting their budget or savings, because borrowers have no required principal or interest payments for as long as they are living in the property,” the article said. “A We are firm believers that the H4P product is prime to take off,” McCue told RMD in April.

Mortgages 431

Mortgages Principal Equity Loans 431

Housing Wire

APRIL 26, 2024

The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

Mortgages 441

Mortgages Staging Principal Loans 441

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 365

Marketing Loans Principal Mortgages 365

Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24

Marketing 385

Marketing Bankruptcy Loans Principal 385

Housing Wire

MAY 9, 2024

“I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in originations, market share gains, and the addition of more than 600 licensed loan originators,” said Terry Schmidt, Guild CEO. Net revenue sharply increased to $231.8 million from only $57.2

Principal 296

Principal Technology Mortgages Loans 296

Housing Wire

MARCH 1, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 375

Closing Investor Principal Residential 375

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. Overall, the bulk MSR market should be incredibly robust throughout 2022.”. You just never know. billion, or 8.2%

Marketing 375

Marketing Principal Banks Loans 375

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 383

Mortgages Seller concession Principal Loans 383

Housing Wire

APRIL 24, 2024

“PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release. The company’s loan production pretax income was $35.9

Lending 405

Lending Loans Principal Mortgages 405

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 348

Mortgages Marketing Loans Banks 348

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. So, I’m really continuing to focus on the active adult market for what we call the “lifestyle home loan,” commonly known as HECM for Purchase.” My outlook is very positive.

Mortgages 403

Mortgages Principal Loans Loan Officer 403

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 438

Principal Loans Investor Finance 438

Housing Wire

OCTOBER 4, 2021

The secondary market for mortgage servicing rights, or MSRs, has been heating up recently as interest rates tick up, increasing the value of MSR assets, and as other revenue streams for lenders begin to slow — such as loan refinancing. The post Market for MSRs revs up as year-end approaches appeared first on HousingWire.

Marketing 334

Marketing Principal Loans Mortgages 334

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 384

Mortgages Loans Equity Principal 384

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 397

Sales Principal Loans Banks 397

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 410

Marketing FHA loan Loans Mortgages 410

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Looking ahead, Pennymac’s executives expect the market to decline even further this year as overcapacity remains. Despite their efforts, profits still dropped to $475.5 to 2.0%. “The

Marketing 318

Marketing Banks Principal Loans 318

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 356

Mortgages Loan Officer Principal Loans 356

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 348

Mortgages Banks Marketing Residential 348

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

Marketing 421

Marketing Fixed-rate mortgage Loan Officer Pre-approval 421

Housing Wire

MARCH 6, 2023

“We’ve seen a consistent theme of potential sellers – many with first-lien rates a full 3 percentage points below today’s offerings – pulling back from putting their homes on the market,” Walden said. of the median household income to make the monthly principal and interest payments on the average home purchase. In 2022, about $2.4

Marketing 394

Marketing Equity Principal Mortgages 394

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 418

Principal Loans Technology Mortgages 418

Housing Wire

MARCH 1, 2024

HousingWire is excited to introduce the winners of the 2024 Finance Leaders award, recognizing the top finance executives in housing who are driving financial performance, expanding margins, improving liquidity and helping their businesses access the capital markets. In its 4th year, 40 honorees were recognized.

Finance 403

Finance Principal Construction MLS 403

Housing Wire

MARCH 10, 2022

The company’s unpaid principal balance increased 18% last year to $70.9 In 2021, we retained servicing rights for 84% of total loans sold,” Terry Schmidt , Guild’s president, told analysts. billion of unutilized loan funding capacity as of December 31, 2021. Guild had $243 million in cash and $1.5

Marketing 395

Marketing Loans Principal Mortgages 395

Housing Wire

NOVEMBER 17, 2022

Government and conforming loans held for sale would have a 20% risk weight. Other loans held for sale would have a 50% risk weight. Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” They will depress it (the market).

Marketing 393

Marketing Lending Loans Principal 393

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 335

Marketing Debt-to-income ratio Loans Mortgages 335