Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 million in fourth-quarter 2023.

Mortgages 321

Mortgages Marketing Equity Finance 321

Housing Wire

APRIL 24, 2024

Thanks to our strategic emphasis on technology, including years of investment in AI and the cloud, Mr. Cooper is well positioned to provide our customers with world-class service, operate as a trusted counterparty for our industry stakeholders, and grow and sustain investor returns.” billion in unpaid principal balance (UPB).

Equity 282

Equity Lending Principal Technology 282

Housing Wire

NOVEMBER 2, 2023

This was the first earnings delivered by Rocket’s new CEO, Varun Krishna , who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business. Rocket’s servicing book unpaid principal balance, which includes subserviced loans, was $506 billion as of Sept.

Principal 395

Principal Loans Technology Mortgages 395

Housing Wire

FEBRUARY 22, 2024

It’s scary out there,” a technology leader at a top lender said anonymously, adding that there were recent cyberattack attempts at his company. But they acknowledge that they keep a vast amount of customer data and some players may be vulnerable amid a shrinking market. Training their workforce is also crucial, they said.

Industrial 367

Industrial Mortgages Investor Technology 367

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 407

Technology Development Title Lending 407

Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

Finance 338

Finance Principal Residential Development 338

Housing Wire

MARCH 5, 2024

“Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. A mortgage industry veteran, Das has served since October 2023 as the president of tech company Pagaya Technologies Ltd.,

Principal 195

Principal Commercial Loans Mortgages 195

Housing Wire

FEBRUARY 6, 2023

He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. billion and injected $925 million into UWM to develop new technology and grow the broker channel. UWM originated $128 billion in 2022, per Inside Mortgage Finance estimates. Forrester served as UWM’s CFO for 10 years.

Principal 337

Principal Finance Mortgages Loans 337

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 As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase.

Loans 371

Loans Purchase and sale agreement Principal Due diligence 371

Housing Wire

AUGUST 21, 2023

In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. She was also appointed as RE/MAX’s new principal accounting officer. Denver -based real estate giant RE/MAX announced that it was laying off 7% of its staff on Friday.

Principal 363

Principal Technology Agents Design 363

Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Department of Housing and Urban Development (HUD) and principal executive vice president of Ginnie Mae.

Principal 315

Principal Development Finance Industrial 315

Housing Wire

NOVEMBER 7, 2023

The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. That’s a 4% year-over-year increase of 511 principal agents since Q3 2022 and a 3% increase of 422 agents compared to the second quarter of 2023. Revenue decreased by 10% year over year to $1.34 Revenue was revised down to $241.20

Principal 324

Principal MLS Agents Brokerage 324

Housing Wire

DECEMBER 15, 2021

The Bitcoin-backed mortgage product accepts Bitcoins and properties as collateral for loans to clients that want to purchase new real estate or finance a property they already own. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

Mortgages 411

Mortgages Lending Banks Investor 411

Housing Wire

SEPTEMBER 1, 2023

primary mortgage servicers in the second quarter of 2023 , according to Inside Mortgage Finance data. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Pennymac Loan Services was ranked No. 5 five among the top U.S. Its servicing portfolio grew to $576.5 The company estimates its market share at 4.3%

Principal 311

Principal Loans Mortgages Finance 311

Housing Wire

AUGUST 4, 2022

Hernandez will be joined by by Faith Schwartz, the CEO and founder of Housing Finance Strategies , a strategic advisory firm that serves banks, mortgage companies, nonprofits and fintech companies. million loans with an unpaid principal balance of more than $1.2 million loans with an unpaid principal balance of more than $1.2

Principal 372

Principal Title Mortgages Industrial 372

Housing Wire

OCTOBER 26, 2021

A source told Bloomberg that the latest financing – split between $28.5 Tom Richardson, head of strategic capital principal technology investments at Wells Fargo Strategic Capital, said in a statement that the capital “will help them achieve their business goals and continue to expand their product offering.”.

Mortgages 334

Mortgages Principal Loans Investor 334

Housing Wire

AUGUST 7, 2023

In addition, Compass also reported an increase of 429 principal agents compared to a year ago and a retention rate of over 90%. “We Greg Hart, Compass’ chief operating officer, added: “We continue to grow our principal agent count since we eliminated cash and equity sign on incentives last summer. Compass is going the other direction.

Brokerage 329

Brokerage Principal Title Equity 329

Housing Wire

MAY 1, 2023

For instance, with higher-priced mortgages, lenders need to verify the consumer’s ability to repay, ensure there is no prepayment penalty and make sure escrow taxes and insurance payments are paid each month along with the loan’s principal and interest. Why do you think that is? Both are highly regulated at both the state and federal level.

Loans 306

Loans Lending Technology Principal 306

Housing Wire

JULY 15, 2021

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. The company is currently licensed in 36 states and Washington D.C.,

Principal 376

Principal Loans Equity Mortgages 376

Housing Wire

JANUARY 10, 2022

PennyMac Financial Services announced today that it’s launching a new technology platform for its broker channel, and it has rebranded its broker division from PennyMac Broker Direct to Pennymac TPO. ” The timeline for the platform’s launch has not been made public. As of Sept. As of Sept.

Principal 329

Principal Lending Loans Technology 329

Housing Wire

OCTOBER 13, 2021

has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform.

Mortgages 278

Mortgages Investor Loan Officer Principal 278

Housing Wire

MAY 31, 2021

Senate Finance Committee. His list of accomplishments includes being the principal drafter of the mortgage forbearance program enacted through the CARES Act, which reshaped the mortgage industry and enabled more than 4 million homeowners to hit the pause button on their mortgage. This content is exclusively for HW+ members.

Principal 290

Principal Banks Finance Mortgages 290

Housing Wire

MAY 9, 2024

” UWM has focused on other ways to help brokers, such as investing in technology, he said. billion in unpaid principal balance (UPB), compared to $299.5 ” One thing UWM has tried to improve is its jumbo offerings. The firm’s jumbo production strongly increased in the first quarter to $2.4 million in cash.

Sales 238

Sales Principal Loans Mortgages 238

Housing Wire

JANUARY 8, 2021

Department of Housing and Urban Development and as the principal executive vice president of Ginnie Mae. This year, eClosings surged as remote online notarization became more popular and consumers looked for alternative ways to close on a home. Before starting as president of MISMO on Dec. In the computer industry you have USB functionality.

Development 445

Development Industrial Technology Principal 445

Housing Wire

DECEMBER 11, 2023

We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There’s been increased activity in the last two weeks [more] than the last two months. When interest rates hovered around 8%, it really hurt affordability,” Steinway said.

Mortgages 449

Mortgages Fixed-rate mortgage Equity Loans 449

Housing Wire

MAY 27, 2022

The CFPB issued a statement to warn creditors that technology being “too complicated” is not an excuse for noncompliance. There is no exception,” it added. The bureau also urged whistleblowers in the tech field to come forward with information about companies violating ECOA. The CFPB did not immediately respond to a request for comment.

Lending 410

Lending Principal Technology Mortgages 410

Housing Wire

SEPTEMBER 9, 2021

Lenders that may have been holding out on embracing automation and technology were forced to adapt at breakneck speed to continue to serve customers. Technology that had long been available, but never saw the level of adoption the industry would have hoped for, was now in high demand. Technology as the new table stakes.

Mortgages 371

Mortgages Technology Inspection Closing 371

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

Equity 287

Equity Inspection Lending Finance 287

Housing Wire

AUGUST 3, 2023

Rocket’s share of the purchase business jumped to 55% in the first three months of 2023, according to data from Inside Mortgage Finance (IMF). Rocket posted a $33 million adjusted net income loss in the second quarter, following a $111 million loss in Q1. Purchase volume in the first quarter came in at $9.4

Loans 296

Loans Mortgages Loan Officer Principal 296

Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises. You build the home to code.

Industrial 332

Industrial Banks Loans Design 332

Housing Wire

SEPTEMBER 30, 2022

Effective natural language processing technologies extract deeper meaning from unstructured data to make a difference in the lives of countless would-be homebuyers who are credit invisible or have not had the ability to obtain access to affordable housing finance. A year ago at this time, rates averaged 3.01%. Presented by: FormFree.

Mortgages 448

Mortgages Fixed-rate mortgage Loans Loan Officer 448

Housing Wire

DECEMBER 29, 2023

Strategies for 2024 I’m heavily focused on recruiting , improving technology and marketing, empowering the loan officers — by giving them the same technology and marketing support. After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over.

Mortgages 437

Mortgages Loan Officer Loans Equity 437

Housing Wire

OCTOBER 31, 2022

The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report. “The

Industrial 306

Industrial Mortgages Principal Loans 306

Housing Wire

FEBRUARY 24, 2022

Purchase volume grew 76% year-over-year due to focus on a “technology-driven client experience,” the company said. Regarding the servicing book, the unpaid principal balance increased 35% year-over-year to $552 billion as of December 31. In 2020, Rocket’s parent company notched $9.4 Rocket’s net income fell 69.5%

Mortgages 370

Mortgages Principal Loans Branding 370

Housing Wire

MARCH 2, 2021

The SPAC news comes just weeks after DOMA announced $150 million in debt financing, which founder and CEO Max Simkoff said would help Doma “wipe the system clean” and build an efficient, digital homebuying system from scratch. Generally accepted accounting principal (GAAP) revenues are expected to be around $226.4 million in 2021.

Title 298

Title Equity Principal Branding 298

App Folio

NOVEMBER 18, 2020

In the past year, the multifamily industry has turned to technology to overcome the unique obstacles brought on by COVID-19. We reached out to several real estate executives to find out how they have adapted their operations during the pandemic and how they are using technology to drive net operating income (NOI).

Technology 105

Technology Property Management Pre-approval Inspection 105

Housing Wire

OCTOBER 2, 2023

While the average unpaid principal balance of borrowers entering a refinance has fallen from $319K in early 2020 to $183K in August 2023, it is even lower ($165K) among cash-outs specifically. There is modest opportunity in the refinance market although it is defying traditional analysis, according to ICE’s mortgage monitor report.

Mortgages 376

Mortgages Equity Lending Principal 376