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FAR parent updates investors on AAG integration, business performance

Housing Wire

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 389
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Rocket lost money last year, so why are its shares up?

Housing Wire

To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. In 2023 alone, the mortgage industry saw a total of 62 merger and acquisition transactions, lender exits and bankruptcies. The BUY+ program provided borrowers a credit equal to 1.5%

Equity 388
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Ginnie Mae to explore new reverse mortgage-backed security product

Housing Wire

Released on Tuesday morning, the move is a further attempt to address the well-documented liquidity challenges that have been plaguing the reverse mortgage business for most of the past year, stemming from the late 2022 bankruptcy of Reverse Mortgage Funding (RMF), the run-up in interest rates and a precipitous drop in loan volume.

Mortgages 392
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HUD IG comments on inquiry into Ginnie Mae’s handling of RMF

Housing Wire

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

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The risk of zero-down loans while the Fed talks recession

Housing Wire

So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand. For the traditional homeowner who bought a home many years ago and has seen their nested equity position explode higher, this isn’t much of an issue.

Loans 543
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Simplify complex lending processes with powerful analytics

Housing Wire

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The comprehensive MSP servicing system supports all areas of loan servicing for both first mortgages and home equity products.

Lending 392
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Real Estate Distress Has Created Opportunities for Rescue Capital

Propmodo

The market’s distress is unwelcome news for most, but it’s leading to opportunities for some investors to go on the offensive. Peebles Corporation is one of those investors. There’s a surge of interest in the market from investors like Willowbrook Partners, who are looking to take advantage of rescue capital transactions.