Housing Wire

MARCH 6, 2023

We’ve seen a consistent theme of potential sellers – many with first-lien rates a full 3 percentage points below today’s offerings – pulling back from putting their homes on the market,” Walden said. of the median household income to make the monthly principal and interest payments on the average home purchase. In 2022, about $2.4

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

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Housing Wire

NOVEMBER 7, 2023

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said.

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Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

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Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. Overall, the bulk MSR market should be incredibly robust throughout 2022.”. And, so far, it is.”.

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Housing Wire

MAY 8, 2024

Several departments were affected, including legal, secondary market and quality control. billion in unpaid principal balance (UPB) in the first quarter, down 1.5% Top-five U.S. The layoffs include mortgage professionals such as processors, underwriters and loan officers. A spokesperson at Newrez did not reply to a request for comment.

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Housing Wire

SEPTEMBER 22, 2023

Christie’s International Real Estate is poised to enter the Austin market this fall as it launches a new affiliate. Romeo Manzanilla, a seasoned Austin brokerage leader, was appointed principal, chief operating officer, and broker of record for the new firm. He still serves as its CEO and principal.

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Housing Wire

OCTOBER 4, 2021

The secondary market for mortgage servicing rights, or MSRs, has been heating up recently as interest rates tick up, increasing the value of MSR assets, and as other revenue streams for lenders begin to slow — such as loan refinancing. The post Market for MSRs revs up as year-end approaches appeared first on HousingWire.

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Housing Wire

FEBRUARY 27, 2024

It posted an increase in gains from reverse mortgages while recalculating its valuation methodologies to reflect the realities of the current market. Assessing the market In a question and answer session at the end of the call, corporate leaders were asked about the details of the current state of the reverse mortgage market.

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Principal Mortgages Industrial As-is 365

Housing Wire

DECEMBER 3, 2020

Knock ’s Home Swap solution is now available in three new markets in Florida: Homeowners in Miami, Fort Lauderdale and West Palm Beach can buy their next home before selling their current one. Knock entered the Florida market in October. Now, the solution is available in 14 markets in the U.S.,

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Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 a week earlier.

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Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The federal funds rate doesn’t directly dictate mortgage rates, but it does steer market activity to create higher rates and reduce demand. A less volatile market? The consumer-price index rose 8.6% In early January, rates were as low as 3.4%.

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Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Looking ahead, Pennymac’s executives expect the market to decline even further this year as overcapacity remains. Despite their efforts, profits still dropped to $475.5 in 2022. “The

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Housing Wire

DECEMBER 3, 2020

1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 months worth of supply, according to Keller Williams Realty Boise , and homes typically stay on the market for just five days.

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Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. “The

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Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. to 4.75% range, up from 0.25% a year ago.

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Housing Wire

MARCH 27, 2024

The currency policy will put VA buyers on the sidelines, especially in a market with already tight inventory, Sears pointed out. “In VA borrowers will be the hardest hit if they have to shoulder buyer-side commissions, said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “VA

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Housing Wire

SEPTEMBER 17, 2021

On the flip side, events unrelated to the Fed’s activities can also have a tremendous impact on the market. Despite pressure from some notable economic experts for an increase in the Fed funds rate to combat inflation, the Federal Reserve has held fast to its existing zero interest rate policy, otherwise known as ZIRP.

Marketing 388

Marketing Fixed-rate mortgage Mortgages Principal 388

Housing Wire

MAY 9, 2024

I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in originations, market share gains, and the addition of more than 600 licensed loan originators,” said Terry Schmidt, Guild CEO. Net income in Q1 2024 also recovered substantially to $28.5

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Housing Wire

FEBRUARY 1, 2023

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. The National Association of Home Builders reports that 27% of builders report using temporary rate buydowns as a home-purchase incentive.

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Housing Wire

MARCH 6, 2024

to 1,900 loans in February, a drop telegraphed by lagging case numbers and sluggish endorsement activity in January, according to data compiled by Reverse Market Insight (RMI). There may also be some easy, repeatable practices you can take from higher-volume regions that haven’t been fully explored in smaller markets yet.

Mortgages 366

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Housing Wire

FEBRUARY 9, 2024

So, I’m really continuing to focus on the active adult market for what we call the “lifestyle home loan,” commonly known as HECM for Purchase.” This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 388

Mortgages Principal Loans Loan Officer 388

Housing Wire

MARCH 6, 2024

The California-based lender and servicer promoted Jim Follette to chief digital officer, a new role to pursue opportunities in digital innovations, commercial markets and solutions for homeowners. Hogan joined Pennymac in 2020 and previously served as its managing director of capital markets technology.

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Technology Principal Commercial Mortgages 388

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

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Mortgages Marketing Loans Banks 339

Housing Wire

FEBRUARY 22, 2024

But Varun Krishna, CEO and director of Rocket Companies, noted its growth in market share during a difficult year for mortgage lenders. “We We once again made strides in market share, as our purchase and refinance share grew by double-digits in 2023. … Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2 Rocket has 2.5

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Mortgages Principal Lending Loans 418

Housing Wire

JULY 20, 2023

The consensus is that the change would primarily affect the shrinking jumbo market (loans greater than $726,200) and hurt regional banks , sources said. According to George, the rule would impact only the jumbo market, a very high credit quality market. That’s 20 basis points higher than the international standard.

Mortgages 342

Mortgages Banks Marketing Residential 342

Housing Wire

NOVEMBER 17, 2022

Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” They will depress it (the market). ” The current MSR market. “The MSR market softened considerably,” said Carnes. multiple market. Who is number 13?”

Marketing 380

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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 The loan offering is being marketed with assistance from Citigroup Global Markets Inc. million; and pool 3, $312.9

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Loans Purchase and sale agreement Principal Due diligence 380

Housing Wire

SEPTEMBER 29, 2023

In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research. 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. the month prior.

Mortgages 501

Mortgages Principal Brokerage Finance 501

Housing Wire

NOVEMBER 7, 2023

In a recent interview with HousingWire, CEO Frank Martell said the most likely period for a trajectory to profitability “is the spring selling season, as we get into next year and the market provides some lift. Servicing loanDepot’s unpaid principal balance increased to $143.9 Still, there were financial improvements.

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Principal Loans Sales Mortgages 408

Housing Wire

MAY 9, 2024

This is according to data compiled by Reverse Market Insight (RMI). The refi market continues to be anemic as higher rates are persisting, with refi volume dropping 3.4% The payoff rate for April beat the 12-month average, and when asked how that factors into overall HMBS market health, Kelly explained the benefits.

Mortgages 321

Mortgages Finance Equity Principal 321

Housing Wire

MARCH 10, 2022

The company’s unpaid principal balance increased 18% last year to $70.9 The liquidity, according to executives, may support mergers and acquisitions, mainly targeting businesses that have a decent market share in their areas, so Guild can keep its focus on building local infrastructure. Guild had $243 million in cash and $1.5

Marketing 384

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Housing Wire

FEBRUARY 8, 2022

The current deal is composed of more than 8,000 mortgages with an aggregate unpaid principal balance of $1.3 The sale of reperforming loans (RPLs) is being marketed in collaboration with Citigroup Global Markets , with bids due by March 1, 2022. million in unpaid principal balance; pool 2 is at $622.6

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Loans Sales Principal Mortgages 362

Housing Wire

SEPTEMBER 26, 2023

The team of three, led by principal Liz Quinn, was previously affiliated with Realty Executives. The move comes amid a time of growing demand for second homes and low-tax markets, including those in Wisconsin, according to Compass’s mid-year, ultra-luxury report. Quinn & Co. We are thrilled to welcome Quinn & Co.

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Principal Technology Agents Industrial 380

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. The market can shift, and it could be challenging to add new products or create efficiencies amid legacy structures, he said. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 422

Principal Loans Investor Finance 422

Housing Wire

FEBRUARY 17, 2022

The most recent RMBS Credit Indices report from the Kroll Bond Rating Agency (KBRA) shows that loan pools supporting outstanding private-label residential mortgage-backed securities issuances overall are performing relatively well to date in both the prime and nonprime markets. as of January of this year. in mid-2020 to 0.9% as of last month.

Marketing 357

Marketing Staging Loans Principal 357

Housing Wire

OCTOBER 1, 2021

But for the past 12 months, the metro’s housing market has been in complete chaos. “It The Provo-Orem market is growing at a faster rate per capita than really anywhere else in the state of Utah, including our capital, Salt Lake City.”. above the list price and sat on the market about 11 days before going pending.

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Marketing Land Agents Principal 414