Housing Wire

JANUARY 2, 2024

When will the mortgage industry know it has reached the tipping point where innovation is no longer a competitive advantage but an existential need? Any one of these indicators points to a housing finance industry ripe for innovation. housing and economic policy in ways that aren’t always beneficial.

Mortgages 352

Mortgages Finance Lending Industrial 352

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 394

Mortgages Loan Officer Loans Closing 394

Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release. But some experts believe that financing options for ADUs need to be expanded.

Construction 369

Construction Finance Design Technology 369

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Fixed-rate mortgage 528

Fixed-rate mortgage Mortgages New Construction Construction 528

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 393

Mortgages Lending Loan Officer Loans 393

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 440

Mortgages New Construction Construction Sales 440

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgages 339

Mortgages Marketing Lending Construction 339

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Banks 383

Banks Mortgages Lending Commercial 383

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. Mortgage rates have nearly doubled to around 6.5% We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western.

Mortgages 402

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 402

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. The same year, the bank completed a deal to finance an ultra-luxury condo project in Sunny Isles Beach, Florida, with a $558 million construction loan. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. 7, down from last week ’s 7.18%.

Mortgages 402

Mortgages Fixed-rate mortgage Marketing MLS 402

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgages 353

Mortgages Loans Residential Equity 353

Housing Wire

OCTOBER 31, 2022

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Waggoner’s professional career spans 18 years in the mortgage industry. The key to growing in a challenging mortgage market. Her role will focus on technology to drive the company’s growth. Presented by: Polly.

Loan Officer 339

Loan Officer Mortgages Loans Technology 339

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 27, up from last week ’s 6.78%.

Fixed-rate mortgage 305

Fixed-rate mortgage Mortgages Loans New Construction 305

Housing Wire

MAY 30, 2023

New construction could be the beacon of light the housing market desperately needs right now, as home builders are gaining confidence amongst rising sales, hopefully soon to translate to more residential construction breaking ground in the coming months.” Relatedly, the Federal Housing Finance Agency (FHFA) recorded a 4.3%

Mortgages 386

Mortgages Fixed-rate mortgage Construction New Construction 386

Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications.

Title 397

Title Finance Loans Lending 397

Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Industrial 270

Industrial Mortgages Construction MLS 270

Housing Wire

DECEMBER 1, 2021

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. United States District Judge Robin Cauthron ordered McCord also serve 8.5

Mortgages 514

Mortgages Lending Banks Loans 514

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Lending 352

Lending Loans Renovation Mortgages 352

Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% Fueling this increase is new construction, according to Divounguy, even though the 1.3% At the same time, builders also adapted to the needs of today’s home buyers who are navigating higher mortgage rates. rise in the average value of U.S.

Marketing 501

Marketing New Construction Finance Construction 501

Housing Wire

JUNE 22, 2023

relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Of the 400 employees scooped up by American Pacific Mortgage (APM) late last year, about 20 LOs have returned to AmeriFirst Financial. In 2022, AmeriFirst closed $2.5

Loan Officer 318

Loan Officer Mortgages Loans Lending 318

Realty Biz

FEBRUARY 24, 2024

While many veterans are familiar with traditional VA home loans, there are additional options that cater to specific needs – VA Jumbo Loans and VA Construction Loans. Insights into VA Home Loans: Before we dive into the specifics of VA Jumbo Loans and VA Construction Loans, let's recap the fundamentals of VA home loans.

Loans 103

Loans Construction VA loan Finance 103

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.”

Lending 323

Lending Sales Commercial Loans 323

Housing Wire

JUNE 17, 2024

Dozens of former employees at Guaranteed Rate say the mortgage lender has fostered a toxic work environment — including verbal abuse, misogyny and bullying — amid the laser focus of its founder and CEO, Victor Ciardelli, on making money and growing the business, according to a report published Saturday by the Chicago Tribune.

HR 270

HR Loan Officer Mortgages Loans 270

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.”

Fixed-rate mortgage 369

Fixed-rate mortgage Mortgages New Construction Loans 369

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset.

Mortgages 341

Mortgages Lending Construction Finance 341

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

Mortgages 371

Mortgages Marketing Banks New Construction 371

Housing Wire

MARCH 1, 2024

Mortgage trade groups have commended the moves taken by the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs) to address a spike in loan buybacks — the latest being a new electronic notification made available by Fannie Mae.

Loans 412

Loans Mortgages Construction Finance 412

Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. The lender’s origination volume increased 25.8%

Mortgages 295

Mortgages Loan Officer Residential Loans 295

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. HW: How has mortgage finance changed in the last few years?

Banks 315

Banks Lending Finance Mortgages 315

Housing Wire

JUNE 5, 2024

Is there new construction in your market? Do the builders have special financing? Know mortgages You don’t have to know what your favorite loan originator does, but you do need to know enough to advise your clients about different types of loans and which lenders may be the best match for them. What’s hot and what’s not?

Pre-approval 315

Pre-approval Fixed-rate mortgage New Construction Loans 315

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. The program is separate from the broader VA loan program that is available to all veterans. interest rate for the life of the loan. “We

VA loan 358

VA loan Mortgages Land Loans 358

Housing Wire

FEBRUARY 6, 2023

Michigan-based United Wholesale Mortgage (UWM) has named Andrew Hubacker as its chief financial officer, the company announced on Monday. Hubacker joined the mortgage lender in October 2020 as chief accounting officer. UWM originated $128 billion in 2022, per Inside Mortgage Finance estimates.

Principal 342

Principal Finance Mortgages Loans 342

The Residential Specialist

FEBRUARY 27, 2024

New home construction can be a profitable niche for real estate professionals who are willing to dedicate the time and effort By Myrna Traylor Most residential real estate professionals enter the real estate field with an eye on the largest market—resales of existing homes. New construction is always seen as much more expensive.

Construction 97

Construction Inspection New Construction Residential 97

Housing Wire

FEBRUARY 24, 2023

The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. Looking ahead, experts are optimistic about the spring selling season for new construction.

Sales 427

Sales New Construction Construction Mortgages 427

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire.

Sales 461

Sales Mortgages Construction As-is 461