Housing Wire

NOVEMBER 1, 2024

We’re excited to share that the FHFA ( Federal Housing Finance Agency ) pilot is expanded to all sellers who do business with Freddie Mac. This interview has been edited for length and clarity. The conversation kicks off with a deep dive into Freddie Mac’s new option to reduce loan buybacks. Mittal: We’ve already saved $1.6

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Loans Principal Finance Closing 373

Housing Wire

JUNE 6, 2025

The new program has $100 million behind it, according to reporting from CBS News , and will be managed by the California Housing Finance Agency (CalHFA). 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.

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Mortgages Finance Principal Loans 248

Housing Wire

DECEMBER 17, 2024

The Federal Housing Finance Agency (FHFA) on Tuesday released an update about the sales of non-performing loans (NPLs) through the government-sponsored enterprises (GSEs), saying the data has shown a steady drop in mortgage delinquencies since the start of COVID-19 pandemic. billion through the end of June 2024.

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Loans Sales Principal Design 381

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. according to Inside Mortgage Finance (IMF). according to Inside Mortgage Finance (IMF).

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Loans Equity Principal Mortgages 363

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.

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Finance Equity Mortgages Principal 370

Housing Wire

OCTOBER 31, 2024

Prior to joining the company, Valverde worked for agencies including the Federal Housing Finance Agency (FHFA) and the U.S. He became principal EVP in 2023 before being named acting president upon McCargo’s resignation. As you know, we requested $67 million for salaries and expenses for fiscal year 2025,” he said. “I’m

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Principal Finance Mortgages Industrial 416

Housing Wire

APRIL 1, 2024

In exchange for providing homeowners a lump sum of cash, they receive a share of the home’s future value or future appreciation. “In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The annual investment volume in the U.S.

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Equity Finance Purchase and sale agreement Investor 440

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. …

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Investor As-is Commercial Equity 419

Housing Wire

AUGUST 9, 2023

billion in the unpaid principal balance of MSRs as of June 30, 2023, compared to $297.9 “Unlike others that are more reactive to cyclical market conditions, we will continue to be aggressive in our technology and product investments. UWM originated $31.8 billion in the first quarter of 2023 and $22.4 billion in the second quarter of 2022.

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As-is Principal Mortgages Loans 370

Housing Wire

NOVEMBER 1, 2024

Whether you’re looking to start a career in real estate, already have one or are involved in real estate transactions, you may find yourself wondering about industry terminology and job titles. The industry acronyms alone look like alphabet soup. So, let’s start with the basics: What is a real estate broker vs. an agent? Let’s dive in!

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Agents Brokerage Purchase and sale agreement Commercial 421

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Homesellers, who now have many offers to choose from, are not likely to look favorably on anything that entails more complicated financing.

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FHA loan VA loan Loans Loan Officer 473

Housing Wire

APRIL 22, 2025

His brother, Jeffrey Finn, serves as principal broker, Richmond BizSense reported. His brother, Jeffrey Finn, serves as principal broker, Richmond BizSense reported. Terms of the cash deal were not disclosed, although John Finn said it was backed by third-party acquisition financing.

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Brokerage Principal Agents Finance 199

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. (The How Freddie Mac is addressing affordable housing challenges. Presented by: Freddie Mac.

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Loans Title Finance Lending 450

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.

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Mortgages Principal Equity Loans 237

Housing Wire

MAY 29, 2024

The government-sponsored enterprises (GSEs) are now targeting a 20% reduction in principal and interest (P&I) payments to keep borrowers facing permanent financial stress in their homes. “The Fannie Mae and Freddie Mac on Wednesday announced an update to one of their loss-mitigation solutions known as Flex Modification.

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Principal Loans Mortgages Finance 430

Housing Wire

JUNE 11, 2024

And Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. million in aggregate principal of 2028 senior notes held by Artemis Management LLC. The new debt will pay 8.75% — an incremental 0.5% The debt extension is credit positive, giving them now two more years.

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Principal Mortgages Finance Investor 454

Housing Wire

APRIL 19, 2022

The administration said that the new loss mitigation option could be an alternative for borrowers who cannot reduce their principal and interest payments by 25% through FHA’s existing 30-year mortgage modification with a partial claim. Comments from the mortgage industry are due by May 31.

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Loans Principal Mortgages Real-estate owned 496

Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

Loans 450

Loans Fixed-rate mortgage Principal Renovation 450

Housing Wire

FEBRUARY 13, 2025

The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans. The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans. billion since 2019. million received a 21.8%

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Land Investor Principal New Construction 210

Housing Wire

AUGUST 27, 2024

The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months). The 203(k) offering has two separate programs. Updates have been made to both variations.

Loans 419

Loans Renovation Principal Finance 419

Housing Wire

MARCH 2, 2023

Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. He joined Ginnie in March 2022 following a stint as supervising attorney advisor for the Federal Housing Finance Agency (FHFA). The position is based in Washington, D.C.

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Principal Finance Loans Mortgages 381

Housing Wire

JUNE 3, 2021

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. of the GSE’s total securitized unpaid principal balance. The options to put off debt payments for federally-backed multifamily properties had been slated to expire at the end of June.

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Principal Finance Loans Equity 479

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

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Loans FHA loan Principal Finance 415

Housing Wire

AUGUST 15, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. billion in unpaid principal balance (UPB). Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. 36 in the IMF ranking.

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Investor Mortgages Banks Principal 449

Housing Wire

OCTOBER 11, 2023

The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. mortgage lender in the first half of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

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Principal Loans Finance Investor 471

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Annaly has $75 billion in assets invested across its agency mortgage-backed securities (MBS), residential credit and MSR strategies. billion as of June 30.

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Closing Principal Loans Finance 404

Housing Wire

APRIL 21, 2025

Amid inflation worries, political turmoil and ripple effects from new federal spending cuts , Americans are growing increasingly pessimistic about the economy, housing market and their personal finances, according to a new consumer sentiment survey. director of research and a managing principal at John Burns. Only 34% of U.S.

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Principal Renovation Branding Finance 198

Housing Wire

JUNE 28, 2024

The Federal Housing Finance Agency (FHFA) on Thursday named the inaugural members of its newly created advisory committee on affordable, equitable and sustainable housing. The FHFA began soliciting applications for the committee in September 2023.

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Lending Principal Finance Land 396

Housing Wire

SEPTEMBER 29, 2023

And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306 , according to Black Knight ’s mortgage monitor report.

Mortgages 508

Mortgages Principal Brokerage Finance 508

Housing Wire

JULY 21, 2022

“With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples. “As

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Bankruptcy Banks Pre-approval Principal 397

Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025.

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Principal Finance Mortgages Equity 416

Housing Wire

MARCH 5, 2024

Effective immediately, issuers of Ginnie Mae mortgage-backed securities must notify Ginnie Mae of any cybersecurity incident within 48 hours of its detection. This new requirement is an important step in further enhancing our cybersecurity framework to meet current and future needs.”

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Principal Finance Investor Mortgages 427

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. million in unpaid principal balance; pool 2 is at $342.5 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time.

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Loans Purchase and sale agreement Principal Due diligence 384

Housing Wire

SEPTEMBER 30, 2024

It also sold MSRs of low-coupon originations from the 2020 and 2021 vintages, bringing its total unpaid principal balance (UPB) to $114 billion on June 30 compared to $142 billion on March 31. loanDepot said this is the 10th time it has closed a transaction of this kind.

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Closing Principal Residential Finance 405

Housing Wire

JULY 19, 2024

The new term sheet details several differences from the current HMBS program, including a reduction in the HMBS pool size to 95% of the loan’s total unpaid principal balance (UPB). To get a better idea of the potential impact that HMBS 2.0 Wong is also a member of the company’s investment committee.

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Development Industrial Mortgages Fixed-rate mortgage 428

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

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Investor Bankruptcy Finance Equity 421

Housing Wire

FEBRUARY 28, 2022

The Federal Housing Finance Agency (FHFA) proposed some key changes to requirements for single-family seller servicers that do business with the enterprises. The lowest minimum liquidity requirement — for those servicers who are only obligated to pay whatever interest and principal the borrower pays — would be set at 3.5 basis points.

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Principal Loans Industrial Banks 396