Housing Wire

OCTOBER 24, 2024

Mutual of Omaha approved brokers and principal agents will have access to five core protections, including a promise that the lender “will not solicit borrowers established within the broker network.” It will also exclude broker-network borrowers from the company’s outbound marketing campaigns. Broker Protect is viewed as a way to do that.

Principal 421

Principal Branding Investor Industrial 421

Housing Wire

OCTOBER 30, 2024

This resulted from a portfolio of $878 billion in unpaid principal balance (UPB), including $755 billion in mortgage servicing rights (MSRs) owned by the company. Candidly, we have to figure out a way to get our equity price to trade where it should,” Nierenberg told analysts. “So, billion without raising any equity. “As

Equity 408

Equity Principal Mortgages Lending 408

Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. People have looked at the demographics, the under-savings of seniors and the significant amount of home equity seniors hold as a potentially large opportunity,” he said.

Investor 368

Investor Mortgages Bankruptcy Equity 368

Housing Wire

MARCH 4, 2025

Make sure you research your options, said gerontologist Nancy Schier-Anzelmo, principal in Alzheimers Care Associates in an interview with Yonder. This is according to a syndicated article originally published by the Daily Yonder , a national news publication focusing on stories from rural America. This is Mayberry.

Equity 369

Equity Principal Development Staging 369

Housing Wire

DECEMBER 7, 2021

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

Equity 450

Equity Principal Mortgages Closing 450

Housing Wire

MAY 21, 2024

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. With this product, eligible people 62 and older can extract equity in a variety of ways, say through a lump sum. But their equity is also a tool. Homes are trophies, sure.

Equity 431

Equity Mortgages Principal Finance 431

Housing Wire

JANUARY 31, 2025

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 It’s an about-face for PennyMac after it posted a net loss of $36.8 million in Q4 2023. For 2024 as a whole, the California -based lender earned a profit of $311.4 million, up from $144.7 million in 2023.

Principal 348

Principal Lending Equity Mortgages 348

Housing Wire

NOVEMBER 5, 2024

In August, loanDepot added a first-lien home equity line of credit (HELOC) to its product suite, enabling homeowners without a mortgage to borrow from their home equity. Regarding loanDepot’s servicing portfolio, the unpaid principal balance (UPB) increased to $114.9 Meanwhile, the company’s total revenues reached $314.6

Purchase and sale agreement 384

Purchase and sale agreement Equity Loan Officer Principal 384

Housing Wire

APRIL 9, 2025

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) related to the Home Equity Conversion Mortgage ( HECM ) program, there are four open recommendations according to a review by HousingWire ‘s Reverse Mortgage Daily (RMD). Three of them, however, are largely centered on the same issue.

Mortgages 324

Mortgages Principal Loans Equity 324

Housing Wire

FEBRUARY 6, 2025

Around the same time , Rithm also struck a $720 million deal for Computershare Mortgage Services and its subsidiary, Specialized Loan Servicing , which brought $136 billion in unpaid principal balance (UPB) to Rithms servicing book. Sculptor added another $1 billion in assets during the past year, according to the 2024 earnings report.

Loans 363

Loans Equity Principal Mortgages 363

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

Equity 441

Equity Purchase and sale agreement Loans Mortgages 441

Housing Wire

OCTOBER 15, 2024

The deal includes Home Equity Conversion Mortgages (HECMs) and mortgage servicing rights (MSRs) with an estimated $3 billion in unpaid principal balance (UPB). The parties entered into an agreement on Oct. The MSRs are currently subserviced by Onity subsidiary PHH Mortgage Corp. On Tuesday morning, Onity was trading near $30 per share.

Principal 419

Principal Equity Mortgages Investor 419

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 440

Equity Finance Purchase and sale agreement Investor 440

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 315

Equity Principal Mortgages Loans 315

Housing Wire

OCTOBER 29, 2021

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Seniors’ response to alternative equity tapping since COVID-19 onset. Eoin Matthews, CBO and co-founder of Point.

Equity 395

Equity Mortgages Principal As-is 395

Housing Wire

APRIL 10, 2025

So that was the original justification for the [Home Equity Conversion Mortgage ( HECM )] portfolio coordination strategy. In this kind of interest rate environment, you’re looking at probably around 40% of the home value, up to the lending limit as an initial line of credit principal limit, he said.

Mortgages 332

Mortgages Marketing Principal Lending 332

Housing Wire

NOVEMBER 15, 2024

A shift in Rocket Mortgage’s MSR strategy Through the third quarter, Rocket has already acquired or committed to over $70 billion in unpaid principal balance for its servicing portfolio —a 15% increase over year-end 2023. “Our scalable tech platform is what empowers us to navigate dynamic markets with agility.

Mortgages 367

Mortgages Equity Loans Principal 367

Housing Wire

OCTOBER 24, 2024

Two days later, Onity announced final details of the transaction that included a price revision to $500 million and an aggregate principal amount of senior notes at 9.875% due in 2029. The price to investors will be 99.556% of the principal amount of the notes. “The

Principal 408

Principal Investor Mortgages Equity 408

Housing Wire

NOVEMBER 13, 2024

But some misconceptions about how the credit line is impacted by partial Home Equity Conversion Mortgage ( HECM ) prepayments was called out by Hultquist and McMinn. “Yes, Relationship between debt and equity McMinn continued with the next misconception, speaking again to a hypothetical borrower. The whistle blew immediately.

Equity 365

Equity Mortgages Principal Loans 365

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. The leadership is also changing. billion goodwill impairment.

Equity 394

Equity Mortgages Banks Commercial 394

Housing Wire

MARCH 7, 2024

Michael Warden , managing principal and CEO of Invictus Capital Partners — one of the largest players in the nonqualified mortgage (or private-label) securitization space via Verus Securitization Trust — is also quite bullish on the future of private capital in the mortgage market. It’s a matter of speed. …

Investor 419

Investor As-is Commercial Equity 419

Housing Wire

APRIL 28, 2025

billion in unpaid principal balance (UPB), up 2% from the end of 2024 and 10% higher compared to March 2024. We’ve also been seeing ramp production and closed-end seconds , home equity loans, and we think that’s a great untapped opportunity for the channel.” “[PennyMac] is well-rounded. .”

Marketing 361

Marketing Principal Loans Mortgages 361

Housing Wire

JUNE 6, 2025

Tom O’Donoghue, principal with Reverse Loans Now , has multiple clients impacted by the recent wildfires and said the program would help. California Gov. Gavin Newsom (D) on Thursday announced that the CalAssist Mortgage Fund will launch on June 12. The guidelines also extend the qualifying disaster period back from Jan. 1, 2023 to Jan.

Mortgages 248

Mortgages Finance Principal Loans 248

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 310

Equity Principal Mortgages As-is 310

Housing Wire

OCTOBER 18, 2024

When older homeowners wish to access a portion of their equity, there are multiple options. The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement.

Mortgages 418

Mortgages Principal Equity Loans 418

Keeping Current Matters

DECEMBER 21, 2021

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb , your equity does too.

Equity 315

Equity Principal Loans As-is 315

Housing Wire

OCTOBER 31, 2024

He became principal EVP in 2023 before being named acting president upon McCargo’s resignation. Ginnie Mae acting president Sam Valverde has been operating in his current position at the government-owned company for much of 2024. As you know, we requested $67 million for salaries and expenses for fiscal year 2025,” he said. “I’m

Principal 416

Principal Finance Mortgages Industrial 416

Housing Wire

FEBRUARY 27, 2025

CoreLogic data shows that the percentage of mortgage borrowers who pay more for their taxes and insurance than their principal and interest has risen from 2% roughly a decade ago to nearly 10% today. That has changed. When it comes to what’s causing the rapid rise in insurance costs, Hepp sees six key drivers.

Equity 219

Equity Construction Principal Mortgages 219

Housing Wire

SEPTEMBER 10, 2024

In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages ( HECM s) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. After all, older ages and lower interest rates generally yield higher principal limits. 10 to Sept.

Mortgages 430

Mortgages Principal Equity Loans 430

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. The product line, known as SecureEquity, is available to homeowners as young as age 55.

Mortgages 237

Mortgages Principal Equity Loans 237

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. 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 428

Principal Mortgages Loans Equity 428

Housing Wire

AUGUST 16, 2024

Many seniors aren’t aware of a sensible financial tool that could ease their worry and help them thrive during their golden years: the home equity conversion mortgage, also called a reverse mortgage. In my work, I talk with many seniors. Sometimes, the concern is emotional, but more often than not, it’s financial.

Mortgages 458

Mortgages Principal Equity Loans 458

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgages 419

Mortgages Equity Loans Principal 419

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 Marty Green thinks of the housing market in 2022 as two very different movies.

Marketing 526

Marketing Equity Bankruptcy Loans 526

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 432

Equity Lending Fixed-rate mortgage Loans 432

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. On home equity , Boesel noted that home-price growth should pick up over the next year.

Mortgages 440

Mortgages Staging Equity Principal 440

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). we must use the nearest 1/8th percent (0.125%).

Principal 399

Principal Mortgages Loans Equity 399