Housing Wire

MARCH 7, 2024

Federal Reserve Chair Jerome Powell indicated in recent congressional testimony that interest rate hikes are now likely at the “ peak for the current tightening cycle ,” after signaling in November of last year that the Fed was close to the end of its war on inflation. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investor 364

Investor As-is Commercial Equity 364

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor. in 2021 to $433 billion.

Finance 372

Finance Renovation Loans Lending 372

Housing Wire

AUGUST 4, 2022

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout. Spreads on both agency and non agency mortgages increased to new highs in a matter of weeks,” Johan Gericke, CFO of Finance of America, told analysts. on Thursday, down 1.5%

Finance 388

Finance Commercial Mortgages Closing 388

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 340

Finance Equity Mortgages Principal 340

Housing Wire

AUGUST 23, 2023

New York-based digital lender Better.com announced Wednesday the closing of its business combination with the special purpose acquisition company (SPAC) Aurora Acquisition Corp , , ending a two-year journey to make the business public. Meanwhile, Harit Talwar will be the chairman of the board of directors at Better Home & Finance.

Closing 360

Closing Pre-approval Finance Title 360

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs. Those borrowers are eligible to receive an additional 0.5%

Closing costs 388

Closing costs Closing Agents Mortgages 388

Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . “We don’t expect interest rates to return to the level we’ve seen earlier in the year.” To manage the business during the storm, FoA has reduced its headcount.

Finance 360

Finance Commercial Mortgages Investor 360

Housing Wire

MAY 30, 2023

The decision is part of UBS’s strategy to focus more on financing mortgage originators , the outlet said, citing an anonymous source discussing non-public information who asked not to be identified. “We The number of positions affected by the closure is unclear. UBS didn’t respond to HousingWire ‘s request for comments.

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Closing Mortgages Banks Lending 352

Housing Wire

JANUARY 11, 2022

Unlike other HousingWire awards, Finance Leaders focuses specifically on corporate finance, secondary marketing, capital markets or strategic finance executives within mortgage banking or a real estate brokerage only. The post Nominations for HousingWire’s Finance Leaders award are now open!

Finance 340

Finance Residential Title Mortgages 340

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 369

Finance Lending Mortgages Renovation 369

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 new product, called EquityAvail, funds at closing and requires that the borrower make payments for 10 years but at a reduced amount, Finance of America Reverse said this week.

Finance 392

Finance Mortgages Loans Staging 392

HomeLight

MAY 8, 2024

Real estate attorneys are not considered essential for closing in the state of Louisiana Real estate transfer taxes? Selling a house “as is” in Louisiana? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes you may just want to skip repairs, get a fair cash offer for your property, and move on.

As-is 88

As-is Inspection Finance Residential 88

BAM Media

MAY 9, 2024

Real estate transactions can be complex, especially when traditional financing isn’t the best option. This is where creative financing strategies like seller financing and subject to come into play. Seller Financing: The seller acts as the bank, creating a new financing agreement with the buyer. What is Subject To?

Finance 105

Finance Banks Investor Loans 105

Housing Wire

NOVEMBER 22, 2023

Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. For the fourth consecutive month , homebuilder confidence sank in November, according to the National Association of Home Builders /Wells Fargo Housing Market Index published last week.

Closing 417

Closing Closing costs Sales Mortgages 417

Housing Wire

APRIL 17, 2023

As the COVID-19 national emergency draws to a close, the forbearance rate has decreased month over month, according to a report from the Mortgage Bankers Association (MBA) on Monday. The total number of loans in forbearance in March decreased five basis points from February, dropping to 0.55% from 0.60% of servicers’ portfolio volume.

Closing 362

Closing Mortgages Loans Staging 362

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . year-over-year, according to Inside Mortgage Finance. The company ranked no. 33 among the top U.S.

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Closing Finance Commercial Mortgages 424

Housing Wire

JANUARY 12, 2022

The email explained that the last day to register a loan is January 12, while the last day for closing a transaction is February 28. increase compared to 2020, according to Inside Mortgage Finance. The post Guaranteed Rate closes Stearns wholesale channel appeared first on HousingWire.

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Closing Loan Officer Loans Lending 382

Housing Wire

MARCH 23, 2022

As the housing market continues to move from last year’s refinance boom, lenders’ ability to identify customers and maintain consumer relationships has become more important than ever in not only securing loans but also ensuring they make it to close. Homebuyers often search for financing online before engaging a Realtor.

Finance 271

Finance Loan Officer Loans Lending 271

Housing Wire

JUNE 1, 2022

One avenue to reduce cost and streamline the closing process is to offer digital closings. Lenders and title agents also reported they can close more loans faster with the same or fewer people, and improve overall loan quality by reducing critical errors, avoiding missed signatures and unnecessary rework. About half of U.S.

Closing 380

Closing Title Loans Technology 380

Housing Wire

SEPTEMBER 4, 2020

Wheeler has worked closely with the executive team at Opendoor over the last year, helping them refine their financial model and navigate the onset of COVID-19. The post People movers: realtor.com, Opendoor, Finance of America and FormFree appeared first on HousingWire. billion in funded loan volume during the first year.

Finance 387

Finance Branding Title Lending 387

Housing Wire

APRIL 4, 2022

million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. The post Redfin closes $138M deal for mortgage lender appeared first on HousingWire. The purchase price “represents a $72.5

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Closing Mortgages Loan Officer Pre-approval 368

Housing Wire

JUNE 22, 2023

billion owned mortgage servicing portfolio, according to Inside Mortgage Finance (IMF) estimates. In May, Planet closed a $150 million increase to its conventional MSR facility because, “Naturally, companies need bigger lines as they grow,” Dubeck said. The volume in Q1 2023 was 68.3% “We bought $12.5

Closing 309

Closing Lending Loans Commercial 309

Housing Wire

DECEMBER 9, 2020

“They are nearly impossible to finance, thus not worth my team’s time currently. Get $75 off your initial membership with coupon code “intro75” The post Why 28% of mortgage applicants never close the loan appeared first on HousingWire. We can’t be chasing rabbits all over the park right now. Already a member?

Loans 502

Loans Closing Loan Officer Mortgages 502

Housing Wire

MAY 17, 2023

So, now, not only does the investor need to come in with more money to close the deal, but they also are paying a much higher interest rate … and then you have home prices coming down or flattening out [as renovations are underway] … so it’s harder to make that deal work today.” How long that can continue is hard to say.”

Finance 357

Finance Marketing Lending Investor 357

Housing Wire

APRIL 30, 2024

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule itself goes into effect 60 days after its publication in the Federal Register.

Lending 347

Lending Finance Closing costs Closing 347

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. From January to September, Wells Fargo originated $37 billion in the space, down 27% compared to the same period in 2021, according to Inside Mortgage Finance data.

Closing 477

Closing Lending Banks Equity 477

Housing Wire

FEBRUARY 19, 2021

Title insurance upstart States Title announced this week $150 million in debt financing from HSCM Bermuda , which will go towards developing a more modern home closing experience. The debt financing will go towards product development, investment in go-to-market growth, and the refinance of debt to Lennar Corp.,

Title 230

Title Closing Finance Technology 230

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. We now have a time clock of about six months.

Closing 397

Closing Mortgages Industrial Loan Officer 397

Housing Wire

JUNE 24, 2022

Honorees like 2021 HW Insider Amanda Cherry , associate product manager at Finance of America Reverse , represent an exceptional class of housing professionals who continuously drive their team to achieve excellence in a number of different facets of housing. The post Nominations for HW Insiders Close Today!

Closing 332

Closing Lending Equity Mortgages 332

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market. That’s our biggest issue in Boston.”

Loans 334

Loans Pre-approval Closing Marketing 334

Broke Agent Media

JANUARY 31, 2023

Fannie Mae multifamily financing provided over $69 billion in 2022 to expand nationwide access to affordable housing. billion in 2021 Green Financing : $9.1 billion in 2021 Clarifying some terms Multifamily Affordable Housing loans provide financing for rent-restricted properties and those receiving other federal and state subsidies.

Finance 98

Finance Closing Equity Commercial 98

Housing Wire

MAY 16, 2024

As a result, brokers no longer need to deal with a title company or settlement agent to close a refi. It said TRAC+ will allow the lender to “manage title review, closing, and disbursement.” United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. The top U.S.

Title 385

Title Loans Mortgages Closing 385

HomeLight

JANUARY 22, 2024

Skip repairs and close in as few as 10 days. Real estate attorneys are not considered essential for closing in the state of Virginia Real estate transfer taxes? Looking to sell a house “as is” in Virginia? The second reason we come across is speed and convenience. Yes Is a real estate attorney required?

As-is 90

As-is Inspection Equity Renovation 90

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. NAR has also reached out to the U.S.

Agents 527

Agents Seller concession VA loan Finance 527

Housing Wire

SEPTEMBER 15, 2020

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Electronic closings supported by remote online notarization (RON) offer advantages to notaries, borrowers and lenders.

Closing 461

Closing Loans Banks Investor 461

Housing Wire

APRIL 21, 2021

We reached out to Martin to discuss her latest digital mortgage closing initiatives and what she sees for the next generation of leaders in housing. Martin: COVID catalyzed digital mortgage closings by creating a renewed sense of urgency. What advances are you seeing being made and how has adoption changed over the past year?

Closing 308

Closing Mortgages Development Industrial 308

Housing Wire

FEBRUARY 5, 2021

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. Modern construction finance requires new infrastructure altogether. and Canada.

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Technology Closing Construction Commercial 242