Housing Wire

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. Mortgage, home equity volumes BofA’s mortgage originations totaled $5.6 Mortgage, home equity volumes BofA’s mortgage originations totaled $5.6

Mortgages 335

Mortgages Banks Equity Lending 335

Housing Wire

JANUARY 18, 2022

Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. And the company claims that there is already a waitlist for the product. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said.

Mortgages 481

Mortgages Pre-qualification Pre-approval Lending 481

Housing Wire

APRIL 4, 2023

Add Moon Mortgage to the list of fintechs offering crypto-backed mortgages. Since 2021, other fintechs have launched crypto mortgage products, including Toronto-based Ledn and Miami-based Milo. Moon’s crypto mortgage product has a minimum loan amount of $1 million. Six months after raising $3.5

Mortgages 353

Mortgages Investor Banks Loans 353

Housing Wire

SEPTEMBER 7, 2022

Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. The new product comes amid mortgage rates around 6.25% and declining home sales. “We But interest-only 40-year mortgage products are relatively rare.

Mortgages 437

Mortgages Loans Equity Finance 437

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgages 392

Mortgages Equity Loans Seller concession 392

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Are you currently thinking about buying a home or refinancing your existing mortgage?

Mortgages 427

Mortgages VA loan Loans Loan Officer 427

Housing Wire

AUGUST 17, 2022

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. Staying nimble in a fast-paced market with the right mortgage technology.

Seller concession 407

Seller concession Mortgages Fixed-rate mortgage Loans 407

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 417

Mortgages Lending Banks Investor 417

Housing Wire

OCTOBER 17, 2022

That was not the case for the depository lender’s mortgage business. However, like its peers, the bank has felt the blow of surging interest rates, especially in the mortgage space. Mortgage originations totaled $8.7 Bank of America had $229 billion in outstanding residential mortgages on its books through Sept.

Banks 345

Banks Mortgages Equity Loans 345

Housing Wire

MAY 10, 2022

The nation’s largest wholesale lender, United Wholesale Mortgage (UWM), in the first quarter of 2022 posted an increase in margins and profits over the prior quarter, increasing its purchase volumes to record levels. First quarter earnings were buoyed by a $172 million increase in the fair value of mortgage servicing rights (MSRs).

Mortgages 382

Mortgages Loan Officer Loans Principal 382

Housing Wire

NOVEMBER 8, 2021

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. An ‘important’ component to product diversity, smaller does not always mean ‘niche’. Kathryn Amor. “We

Finance 322

Finance Mortgages Lending Equity 322

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. “We had a great quarter for our micro products (…) We have positive returns there. below the $16.4

Banks 320

Banks Mortgages Equity Loans 320

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage. Presented by: MCT.

Finance 394

Finance Mortgages Loans Staging 394

Housing Wire

OCTOBER 25, 2022

Recession is coming, according to the Mortgage Bankers Association. . The economic dislocation will bring mortgage originations down to $2.05 The economic dislocation will bring mortgage originations down to $2.05 “The slowdown in housing activity and higher mortgage rates will quickly cut the rate of home-price growth.

Mortgages 316

Mortgages Industrial Equity Banks 316

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgages 343

Mortgages VA loan Loans Technology 343

Housing Wire

MARCH 2, 2021

Rocket Mortgage is making a big play for the legion of self-employed borrowers who have been frustrated by a lack of mortgage options and overwhelming red tape: a new jumbo mortgage product offered through its Rocket Pro TPO channel. 28 averaged about 3.32% for a 30-year fixed-rate product. Presented by: Angel Oak.

Mortgages 365

Mortgages Lending Loans Banks 365

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. HousingWire: What are some potentially overlooked products that originators could add to their portfolios to grow their businesses in the rising rate environment?

Mortgages 367

Mortgages Equity Finance Technology 367

Housing Wire

SEPTEMBER 1, 2021

The reverse mortgage industry is perhaps overly familiar with having a need to fact-check certain claims about the product category made by financial commentators, some of which are very well-known by the general public while others are simply ubiquitous enough to warrant the need for competing educational materials.

Mortgages 335

Mortgages Finance Industrial Loans 335

Housing Wire

JULY 1, 2022

For those borrowers historically underserved in the traditional mortgage industry, Deephaven Mortgage has proven that its expertise in the non-QM space can benefit both brokers and borrowers. Our brokers know we stand by our terms and commitments. That’s where Deephaven comes in.

Mortgages 347

Mortgages Lending Loans Development 347

Housing Wire

JUNE 30, 2021

During this period of significant opportunity for purchase transactions and refinances, brokers and wholesale correspondents (non-delegated) need to align to wholesale lenders that provide deep industry expertise, comprehensive products and efficient operational support to support their clients’ strategies. 1 VA, FHA and GNMA lender.”.

Mortgages 196

Mortgages Finance Technology Industrial 196

Housing Wire

APRIL 25, 2024

Independent mortgage banks ( IMBs ) and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2022, according to data released Thursday by the Mortgage Bankers Association (MBA). On average, production volume was $1.9

Banks 352

Banks Loans Mortgages Industrial 352

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgages 365

Mortgages Loan Officer Banks Lending 365

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

Lending 343

Lending Mortgages Technology Banks 343

Housing Wire

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. I was wondering if you guys could explain reverse mortgages,” the listener asked the group.

Mortgages 419

Mortgages Equity Title Loans 419

Housing Wire

APRIL 23, 2024

New York-based multichannel lender US Mortgage Corporation previously announced that it was renewing its efforts in the reverse mortgage industry, having hired industry veteran Ken Krajewski to serve as managing director and head of reverse mortgage lending. Proprietary product offerings are on the table as well. “We

Mortgages 319

Mortgages Loan Officer Investor Lending 319

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). Loan production expenses averaged around $7,389 per loan. in Q1 2024 before falling to 6.6%

Loans 416

Loans Banks Mortgages Sales 416

Housing Wire

APRIL 23, 2024

For investment professionals, the rule will also aim to ensure a level playing field, rather than individuals being hindered by a system that may have unclear requirements for advisers based on the products they choose to recommend, DOL stated.

Investor 348

Investor Lending Mortgages Design 348

Housing Wire

APRIL 9, 2024

Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. To get a better idea of what motivated the survey and its desire to learn more about reverse mortgages, RMD sat down with WSFS Mortgage President Jeffrey Ruben.

Mortgages 349

Mortgages Equity Banks Brokerage 349

Housing Wire

APRIL 22, 2024

Earlier this month, California-based multichannel mortgage lender CMG Financial announced that it had acquired Norcom Mortgage ’s retail assets to expand its operations in the Northeast. Duffy said this also helps demonstrate the need for the reverse mortgage product. And I was offered a wonderful opportunity at CMG. “And

Lending 362

Lending Mortgages Loans Land 362

Housing Wire

APRIL 25, 2024

Photo credit: AJ Canaria Reverse mortgages became an unexpectedly prominent topic during certain parts of The Gathering by HousingWire , held earlier this week in Scottsdale, Arizona. Reverse mortgages for purchase are taking up more conversation on the reverse side of the business recently.

Mortgages 304

Mortgages Finance Equity Lending 304

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. Most recently, NAF acquired $2 billion Chicago-based retail shop Draper & Kramer Mortgage Corp.

Loan Officer 365

Loan Officer Loans Finance Mortgages 365

Housing Wire

APRIL 17, 2024

One planner solicited for input thinks that a reverse mortgage could be a worthy consideration, among other options, according to a new blog. “I I used to dislike reverse mortgages. A 2023 study published by Mutual of Omaha Mortgage suggested that misunderstandings about reverse mortgages remain rampant.

Mortgages 415

Mortgages Equity Loans As-is 415

Housing Wire

APRIL 26, 2024

ML 2024-06 details the particulars of the policy revisions, changes to particular regulations and added that the “model HECM fixed and adjustable rate mortgage payment plans and model Exhibit II – Schedule of Closing Costs have been modified to align with the provisions of this ML.” Still, I’ll take what we got.”

Closing costs 399

Closing costs Development Equity Mortgages 399

Housing Wire

APRIL 1, 2024

In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.

Loan Officer 366

Loan Officer Loans Mortgages Equity 366

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officer 375

Loan Officer Lending Technology Loans 375

Housing Wire

APRIL 25, 2024

Nathan Knottingham, COO at Vetted VA , announced the launch of a new mortgage continuing education provider, MLO Force , from the stage at HousingWire’s The Gathering this week. The aim is to leverage the pair’s experience in content, training and digital production to make required NMLS training more fun, Knottingham said.

Industrial 335

Industrial Mortgages Lending Staging 335

Housing Wire

APRIL 24, 2024

“Strong volume increases in our consumer and broker direct channels drove continued profitability in our production segment.” The company’s loan production pretax income was $35.9 Production revenue totaled $184.7 Production revenue totaled $184.7 Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6

Lending 378

Lending Loans Principal Equity 378