Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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Housing Wire

DECEMBER 29, 2022

Sales fall. The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year.

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Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Smart Rate marked Strauss’s return to the mortgage market after abruptly shuttering Sprout Mortgage in July 2022. Mortgage tech platform Modex shows that Strauss, the only mortgage loan officer at Smart Rate, originated $5.56

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Housing Wire

NOVEMBER 15, 2022

While originations are down due to a volatile mortgage market, the population of underserved borrowers who require non-QM products is on the rise. Credit Challenges: Borrowers who have recovered from a foreclosure or bankruptcy do not have wait seven years to get a mortgage.

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Housing Wire

JUNE 22, 2023

The days on market are back to a teenager level in the existing home sales market, which means I can officially say we are back to a savagely unhealthy housing market! Credit channels and inventory channels both changed after 2010 because of the qualified mortgage laws and the 2005 bankruptcy reform laws. million in May.

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Housing Wire

AUGUST 11, 2022

Likewise, Atlanta-based A ngel Oak Mortgage Inc. , a real estate investment trust focused on nonqualified mortgages, or non-QM, recently announced that it was struggling with red ink — recording a net loss of $52.1 a long-term player in the non-QM mortgage market. Redwood Trust Inc. , The Angel Oak Cos.

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Housing Wire

OCTOBER 12, 2023

Within mortgage companies, even those that have huge scale versus small scale, they’re offering really the same borrower experience and the same loan officer experience. SW: How does that impact you as a mortgage lender CEO? RW: For 95% of mortgage companies, the answer is buy and integrate and optimize. Well, then what?

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Housing Wire

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). The problem: They did not qualify for the loans.

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Realty Biz

JULY 12, 2021

In other ways, the pandemic helped a little because I was able to take advantage of some financial help that became available, including the mortgage forbearance program that suspended mortgage payments. I’m thinking that bankruptcy might be my only option. What’s important for me to know about filing bankruptcy as a homeowner?

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Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

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Housing Wire

AUGUST 3, 2023

Black Knight reported slimmer profits and slowing organic growth in the second quarter, largely due to weaker mortgage volume from clients as well as near-term effects from the proposed merger deal with Intercontinental Exchange (ICE). The company’s profit dropped 61% quarter over quarter to $55.3 million in Q2 2023. million in Q1 2023.

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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. LLC , recently announced that it is exploring a potential company sale or merger in the wake of posting a $22.4

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Housing Wire

MARCH 26, 2021

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo, the largest depository mortgage lender in America, has been plagued by scandals in recent years.

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Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. The report defines a critical defect as one that “would result in the loan being uninsurable or ineligible for sale.”

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Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. billion in mortgages in 2021. billion in the first six months of 2022, down 42.7%

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Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The firm will focus on the non-qualified residential mortgages in the wholesale and correspondent channels. and purchase mortgages accounted for 53.6%. . The lender originated $2.32

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Housing Wire

JULY 11, 2023

The Westchester County District Attorney announced on Friday that it has indicted a group of six individuals and a corporation for allegedly stealing property deeds from distressed homeowners, fraudulently accessing mortgage loans, and evading state taxes. They ultimately defaulted on the mortgages, the district attorney claimed.

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Housing Wire

AUGUST 30, 2022

From the index : I know it seems strange, but existing home sales are falling, and the monthly supply of new homes is at 10.9 months even if the last existing home sales report showed home price growth of near 11% year over year. However, we haven’t had a credit sales boom like the one we saw from 2002-2005.

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Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. over asking price. High octane stuff.

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HomeLight

FEBRUARY 29, 2024

Whether your decision is motivated by job changes, financial needs, or family matters, sometimes a fast home sale is inevitable. Let’s dive in and find out how to turn your San Antonio property into a successful and speedy sale. Receive your offer in 24 hours and close in as few as 10 days.

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Realty Biz

AUGUST 29, 2022

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? Are there any benefits of short sales compared to other options?

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Housing Wire

FEBRUARY 28, 2023

In its Q4 earnings statement on Tuesday, mortgage technology giant Black Knight remained tight-lipped regarding the Politico report that the U.S. We remain focused on winning new clients, expanding and extending our relationships with existing clients through cross-sales and contract renewals, and delivering innovative new solutions.”

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Housing Wire

SEPTEMBER 8, 2022

When mortgage rates fall, the majority of homebuyers (including homeowners who need to sell to buy another home) are mostly employed, so lower rates greatly benefit them, and housing demand increases. million homes for sale, but in 2022 we got as low as 870,000 in total inventory.

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Inman

AUGUST 29, 2023

Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after the court ruled collection of upfront fees violated the Telemarketing Sales Rule.

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Housing Wire

MAY 26, 2022

As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. We had roughly 300,000 more existing home sales in 2020 than in 2019 and 800,000 more in 2021. If I take existing home sales from 2017 levels, it’s roughly, on average, just 300,000. I don’t believe housing inventory below 1.52

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Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

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Housing Wire

NOVEMBER 2, 2020

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. Black Knight is a proven mortgage industry leader in servicing technology. Secondary Marketing. Added Value to Clients.

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Housing Wire

DECEMBER 29, 2021

Retail sales have been off the charts, job openings are at 11 million, GDP growth picked up big time and jobless claims hit a level last seen in 1969. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. In short, we made American mortgage debt great again !

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Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Housing Wire

JULY 1, 2022

Three former employees are suing First Guaranty Mortgage Corporation (FGMC) and financial backer Pacific Investment Management Company (PIMCO), alleging they were discriminated against on the basis of their gender and then retaliated against for complaining. . FGMC filed for Chapter 11 bankruptcy protection in Delaware on Thursday, June 30.

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Housing Wire

APRIL 10, 2023

In December, HousingWire spoke to Flueid about the concept of instant title and why it is a misnomer for mortgage lenders. HousingWire: HousingWire recently spoke to Flueid about the concept of instant title and why it’s a misnomer for mortgage lenders. That’s much too late in the process.

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Housing Wire

DECEMBER 20, 2021

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. The 10-year yield and mortgage rates. That range dictated that mortgage rates would roughly stay between 3.5%-4.75%.

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HomeLight

AUGUST 16, 2021

The mortgage loan process is pretty messy! Follow the list, and you’ll save yourself a lot of headaches and make the mortgage loan process a lot smoother. Businesses have expenses, which eat into how much you take home and have available to spend on a mortgage. Source: (Mangostar / ShutterStock). Loan application.

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Housing Wire

JULY 22, 2022

Non-QM lender First Guaranty Mortgage Corp. FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Sprout Mortgage imploded in early July, leaving its employees out in the cold.

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Housing Wire

DECEMBER 8, 2021

My biggest concern for housing in the years 2020-2024 was that if the demographic push in demand picks up and total home sales get over 6. million new and existing home sales combined. This type of sales growth — which couldn’t happen from 2008-2019, as I have often stated — is coming with a hefty price tag.

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Housing Wire

OCTOBER 10, 2023

“I think folks tend to get creative and take a bit more risk than they might be willing to take in a market where rates are lower,” Holly Bunting, a partner at Mayer Brown in the areas of residential mortgage banking and consumer finance, said in an interview. However, the Freedom case represented a “wakeup call.”

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Housing Wire

MAY 25, 2022

The most affordable manufactured homes are financed with private loans with higher interest rates, shorter terms and fewer consumer protections than mortgage loans. The GSEs, which back mortgages on traditional site-built homes, currently do not provide financing for chattel. That means the 17.5 A little bit jumbled.

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