Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

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Industrial Banks Loans Design 342

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 388

Banks Mortgages Loans Equity 388

Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. Among the major stories in 2023 was Wells Fargo ’s efforts to downsize its mortgage footprint, including its MSR portfolio.

Marketing 331

Marketing Principal Banks Loans 331

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible. So, for me, the HECM is the go-to product.

Mortgages 341

Mortgages Banks Equity Land 341

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

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Principal Loans Investor Industrial 401

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages 345

Mortgages Seller concession Principal Loans 345

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. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 367

Mortgages Principal Loans Loan Officer 367

Housing Wire

JULY 12, 2023

BlackFin Group announced on Wednesday the appointment of Christopher Call as the principal consultant on the BlackFin Group Professional Services team. Founded in 2019, BlackFin Group is a management consulting firm specializing in strategic guidance, operational expertise, and innovative solutions for the banking and mortgage industries.

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Principal Technology Banks Mortgages 286

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

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Mortgages Banks Loans Industrial 400

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 322

Mortgages Banks Marketing Residential 322

Housing Wire

APRIL 8, 2022

I believe that non-QM/non-agency lending represents the next phase of the mortgage industry, and I’m excited to influence it at Deephaven,” Gulotta said in a statement. “I I believe that non-QM/non-agency lending represents the next phase of the mortgage industry, and I’m excited to influence it at Deephaven,” Gulotta said in a statement.

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Sales Lending Principal Banks 350

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. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

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Principal Loans Banks Mortgages 398

Housing Wire

JANUARY 4, 2024

Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume. The obvious culprit is still rates. Beyond that will depend on what happens to rates.”

Mortgages 391

Mortgages Bankruptcy Principal Finance 391

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank. Cooper Group Inc.,

Banks 368

Banks Principal Finance Equity 368

Housing Wire

DECEMBER 13, 2023

It’s purely driven by interest rate risk, and it’s also being driven by a lack of liquidity and a loss of deposits in the banking system [a major purchaser of whole loans and mortgage-backed securities in the past].” percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgages 332

Mortgages Marketing Banks Investor 332

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. Pennymac announced on Thursday a $92.87 million net income in Q3 2023, up from $58.2 However, the profits were down from $145.2

Fixed-rate mortgage 365

Fixed-rate mortgage Principal Banks Loans 365

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Bankruptcy Mortgages Principal 371

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 mortgages were originated at interest rates of 3% or less, and rates now are more than 3 percentage points higher.

Loans 371

Loans Debt-to-income ratio Banks Mortgages 371

Housing Wire

FEBRUARY 15, 2023

The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions. In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

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Sales Mortgages Loans Loan Officer 314

Housing Wire

FEBRUARY 2, 2023

Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018.

Marketing 288

Marketing Banks Principal Loans 288

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna has more than 20 years of experience in the real estate industry and a background that spans both real estate law and business. Williams has decades of experience in the real estate industry. She holds an A.B.

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Principal Development Brokerage Residential 86

Housing Wire

APRIL 1, 2024

Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period. The annual investment volume in the U.S.

Equity 376

Equity Finance Purchase and sale agreement Investor 376

Housing Wire

JUNE 2, 2022

NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks. 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.

Mortgages 365

Mortgages Loan Officer Lending Principal 365

Housing Wire

MARCH 23, 2022

We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. REMICs are tax exempt under federal law, although the income earned by investors is taxable. “We

Banks 354

Banks Bankruptcy Loans Investor 354

Housing Wire

APRIL 27, 2023

Servicing “is a critically important asset and has driven much of the success that we have enjoyed in mortgage banking,” David Spector, chairman and CEO, said in a recorded earnings message. billion in unpaid principal balance (UPB) as of March 31, up 2% from December 31. million in Q1 2023, down from $37.6 trillion to $1.8

Principal 348

Principal Banks Loans Mortgages 348

Housing Wire

FEBRUARY 16, 2023

Seehausen’s professional career spans nearly three decades in the mortgage industry. Prior to joining LauraMac, he served as a principal at LauraMac’s parent company Calterra Capital, where he continues to be an executive advisor to personal holdings. where he will continue to serve in this role.

Loans 292

Loans Principal Technology Development 292

Housing Wire

DECEMBER 15, 2021

According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal. Some banks, lenders, and fintechs are testing the technology, but the lack of regulatory clarity and fears of volatility have kept these currencies from becoming fully integrated into products and services. .

Mortgages 413

Mortgages Lending Banks Investor 413

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. This is nearly three times the monthly average witnessed in 2021,” he added. We closed a $10 billion deal not long ago,” he said.

Marketing 355

Marketing Principal Banks Loans 355

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. Cooper had 4.3

Purchase and sale agreement 336

Purchase and sale agreement Equity Principal Banks 336

Housing Wire

JUNE 3, 2022

The major market dynamic making EBO deals attractive now, according to KBRA, is a changing of seasons in the mortgage industry, marked by fast-rising rates , high housing prices and a turn toward a competitive purchase-mortgage market. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure.

Loans 354

Loans FHA loan Principal Marketing 354

Housing Wire

JUNE 16, 2022

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. mortgage industry to fund $4.1 In early January, rates were as low as 3.4%.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.

Equity 494

Equity Marketing Loans Bankruptcy 494

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Kurt Carlton, President of New Western.

Mortgages 403

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 403

Housing Wire

AUGUST 12, 2022

O’Donoghue has been in mortgage banking for more than 30 years and has been helping and committed to working with Senior Citizens for the last seven years. This story just reiterated my thoughts on how our industry can help change lives in difficult economic conditions. I would expect about 10-15% depreciation.

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Principal Loans Lending Banks 325

Housing Wire

MAY 31, 2021

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. Senate Finance Committee. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 per day.

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Principal Banks Finance Mortgages 299

Housing Wire

OCTOBER 18, 2022

Sprout was founded in 2009 by industry veteran Michael Strauss and became “one of the fastest growing non-QM lenders in the country,” according to the lawsuit. A recent lawsuit claims Sprout Mortgage left its warehouse lender FirstFunding holding over $220 million of its debt when the mortgage lender abruptly closed on July 6.

Loans 365

Loans Principal Mortgages Lending 365

Housing Wire

JANUARY 26, 2022

Policymakers at the central bank said that beginning in mid-February, it will purchase $20 billion in Treasury securities and $10 billion in mortgage backed securities. The previous plan, from January, indicated purchases of $40 billion in Treasury and $20 billion for MBS. The asset tapering program is scheduled to end in early March.

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Principal Mortgages Banks Loans 379