Housing Wire

NOVEMBER 9, 2022

Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. What is a home equity loan? Home equity loans have a fixed interest rate and a set schedule of fixed payments for the life of the loan. Read on to find out. Pros and cons.

Equity 531

Equity Loans Principal Pre-approval 531

Housing Wire

APRIL 9, 2025

The sole outlier, according to the online database, is related to a settlement between HUD and MetLife Home Loans reached in 2018, stemming from allegations that the lender and a reverse mortgage borrowers son failed to comply with HECM loan requirements from the Federal Housing Administration (FHA).

Mortgages 324

Mortgages Principal Loans Equity 324

Housing Wire

JANUARY 2, 2025

to 2,392 loans for the month, according to data compiled by Reverse Market Insight (RMI). They are issued by HUD once a HECM loan application has been submitted to the agency. Case number assignments and loan volume yields can ultimately diverge, but the former can often be predictive for the latter. They jumped by 11.3%

Mortgages 389

Mortgages Equity Principal Loans 389

Housing Wire

DECEMBER 27, 2024

We’ll have those loans that come in where we have to look at every opportunity that we can to save that deal and help that client. Reverse mortgage business and mortgage business generally is not where people want it to be. Peter Sciandra, who serves as EVP of reverse lending secondary marketing at Fairway Independent Mortgage Corp.

Industrial 384

Industrial Mortgages Principal Lending 384

Housing Wire

MAY 21, 2025

The rising cost of homeowners insurance coupled with the rising regularity of weather-related natural disasters is serving to erode the longstanding barrier between mortgage lenders and loan losses, according to a new report published by First Street. Indirect economic pressures also pose serious risks. billion by 2035.

Principal 288

Principal Equity Banks Mortgages 288

Housing Wire

JUNE 12, 2025

National lender HomeXpress specializes in nonqualified mortgages (non-QMs), business-purpose loans for real estate investors and other nonagency mortgage products. billion in unpaid principal balance in 2024 and $1.2 The lender, which has been originating loans for nine years, has reported profitability each year since its founding.

Loan Officer 272

Loan Officer Principal Loans Mortgages 272

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. The administration added that some loans funded through mortgage revenue bonds may not qualify for the new loss mitigation option. Comments from the mortgage industry are due by May 31.

Loans 496

Loans Principal Mortgages Real-estate owned 496

Housing Wire

FEBRUARY 6, 2025

billion in consumer loans from Goldman Sachs while also closing a deal to purchase Sculptor Capital Management and its $33 billion in assets under management. In total, its funded loan volume jumped from $8.9 Its refinance recapture rate in 2024 when including closed-end second-lien loans was 52%, up from 41% two years earlier.

Loans 363

Loans Equity Principal Mortgages 363

Housing Wire

JUNE 11, 2025

Meanwhile, Ventura described Fairway’s 2015 entrance into the reverse mortgage industry as a principal agent — and how the larger company aims to leverage its robust forward mortgage operations in its reverse pursuits. Of that number, just under 300,000 were rejected for the loan they applied for. Last year, more than 1.1

Mortgages 337

Mortgages Debt-to-income ratio Lending Staging 337

Housing Wire

JANUARY 21, 2025

This could negate any profit potential from increased loan volume. To combat this, lenders should retain their servicing rights to collect the maximum amount of revenue throughout the loan’s life. Effective loan servicing positions servicers as reliable advisors for the homeowner.

Mortgages 367

Mortgages Loans Investor Principal 367

Housing Wire

JULY 8, 2024

Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. billion of single-family residential loans at a discount. The bank entered into an agreement to buy $1.8

Loans 406

Loans Principal Banks Residential 406

Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. 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

JUNE 10, 2025

2 industry player in reverse-backed securities issuance and one of the top two providers of proprietary reverse mortgage loans, is expanding its product suite beyond government-backed and proprietary reverse mortgages while remaining focused on older customers. Reverse mortgage lender and servicer Longbridge Financial , a no.

Equity 358

Equity Principal Development Technology 358

Housing Wire

DECEMBER 20, 2024

At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. The lender chose LoanPASS to provide its software-as-a-service (SaaS) product and pricing engine in its reverse lending operations.

Mortgages 384

Mortgages Technology Principal Industrial 384

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

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

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

NOVEMBER 12, 2024

billion in loans during the period — up 28% year over year. Refinancing opportunities are largely coming from Rocket’s servicing portfolio, which reached an unpaid principal balance (UPB) of $546.1 million loans, Rocket’s servicing operations generated approximately $1.5 It originated $28.5 months to 4.3 billion as of Sept.

Purchase and sale agreement 384

Purchase and sale agreement Mortgages Principal Loans 384

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. While Ellington’s results were softer in comparison , company leaders remain bullish on profitability prospects for Longbridge and the wider industry.

Investor 368

Investor Mortgages Bankruptcy Equity 368

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​​.

Loans 415

Loans FHA loan Principal Finance 415

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. All the while, companies like Mr. Cooper and Lakeview Loan Servicing have expanded their portfolios.

Mortgages 367

Mortgages Equity Loans Principal 367

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 6, 2024

billion in unpaid principal balance (UPB), but it recorded a net loss of $74.6 Our servicing portfolio continues to be a valuable source for ongoing cash flow, future opportunities for loan recapture, and it reinforces our customers-for-life strategy,” Kramer said. The company’s servicing portfolio grew to $91.4

Principal 352

Principal Mortgages Loans As-is 352

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.

Mortgages 248

Mortgages Finance Principal Loans 248

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

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings.

Loans 416

Loans Mortgages Industrial Technology 416

Housing Wire

AUGUST 9, 2023

billion in mortgage loans in the second quarter of 2023 “despite a historic decline in industry-wide origination volume during 2023,” according to Ishbia. The wholesale lender originated $28 billion in purchase loans in the second quarter, an increase from $19.2 UWM originated $31.8 billion in the first quarter of 2023 and $22.4

As-is 370

As-is Principal Mortgages Loans 370

Housing Wire

MARCH 7, 2025

The report also states that the idea is being championed by Irving Dennis, HUDs new chief financial officer and principal deputy. Dennis, the agencys new principal deputy chief financial officer, is a former partner at the global consulting giant EY , also commonly known by its original name, Ernst & Young , the report said.

Technology 264

Technology Principal Industrial As-is 264

Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. .” Charting the loan officer exit.

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

Housing Wire

MAY 1, 2023

We’ve asked Phillip McCall, president and chief operating officer at ACES Quality Management , how lenders can keep up with new and upcoming regulations to maintain loan quality in this very competitive environment. Why do you think that is? Both are highly regulated at both the state and federal level.

Loans 382

Loans Lending Technology Principal 382

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 384

Loans Debt-to-income ratio Banks Mortgages 384

Housing Wire

APRIL 21, 2025

The principal investigator of the study is Mariana Amorim, an associate professor in the department of sociology at Washington State University. It is not technically a loan but an option agreement. Yet, from the consumers perspective they are seen as akin to existing mortgage loans, Amorim said.

Equity 259

Equity Principal Loans Mortgages 259

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

JANUARY 4, 2024

If passed, House Bill 809 and its companion Senate Bill 1070 would bar insurance carriers from placing a coverage limit on a home that would include the value of the land the house sits on, and it would require insurance companies to offer policies that cover only the unpaid principal on a mortgage.

Principal 522

Principal Mortgages Land Loans 522

Housing Wire

JANUARY 10, 2025

Brown also served as managing director of sales for mortgage technology firm Black Knight , as chief revenue officer for Lift Strategic Partners and as principal for Brown Derby Consulting. Brown expressed excitement over his new role and said he intends to continue serving customers with new solutions.

Principal 370

Principal Lending Development Mortgages 370

Housing Wire

APRIL 30, 2025

The Pontiac, Michigan-based wholesale lender also announced it has selected ICE Mortgage Technology s MSP loan servicing system as its servicing platform, with a strategic focus on boosting recapture and referral business through its broker network. billion deal to sell to rival Rocket Mortgage. Pennymac , the third-largest U.S.

Mortgages 214

Mortgages Principal Technology Loans 214

Housing Wire

MARCH 5, 2024

With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Why are there two HECM interest rates used with HECM loans?

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Principal Mortgages Loans Equity 428