Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower. “I

Marketing 371

Marketing Principal Banks Loans 371

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 350

Sales Mortgages Loans Loan Officer 350

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 394

Equity Fixed-rate mortgage Principal Mortgages 394

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank.

Banks 391

Banks Principal Finance Equity 391

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. The correspondent channel fell to $1.7

Purchase and sale agreement 376

Purchase and sale agreement Equity Principal Banks 376

Housing Wire

FEBRUARY 3, 2022

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. Another private-equity player in the MSR space is St.

Purchase and sale agreement 365

Purchase and sale agreement Marketing Equity Banks 365

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 430

Mortgages Bankruptcy Principal Finance 430

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 432

Mortgages Banks Loans Industrial 432

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 409

Lending Bankruptcy Mortgages Principal 409

Housing Wire

JUNE 3, 2022

The major market dynamic making EBO deals attractive now, according to KBRA, is a changing of seasons in the mortgage industry, marked by fast-rising rates , high housing prices and a turn toward a competitive purchase-mortgage market. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure. million to $13.2

Loans 384

Loans FHA loan Principal Marketing 384

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna has more than 20 years of experience in the real estate industry and a background that spans both real estate law and business. Williams has decades of experience in the real estate industry.

Principal 86

Principal Development Brokerage Residential 86

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 312

Investor Sales Mortgages Loan Officer 312

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Equity can be used for any number of purposes, including home improvements.

Mortgages 357

Mortgages VA loan Loans Technology 357

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, as of December 6, 2021, Recursion’s data show banks controlled 33.2% You just never know. market share. and 6.2%; J.P.

Marketing 377

Marketing Principal Banks Loans 377

Housing Wire

MAY 6, 2022

The firm’s earnings were driven by its servicing portfolio and about $520 billion in unpaid principal balance, said David Spector, chairman and chief executive officer of PennyMac in an earnings call. billion in unpaid principal balance, down 36% from the previous quarter and 32% from the first quarter of 2021. million, down from $106.5

Principal 352

Principal Loans Technology Mortgages 352

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 102

Equity Finance Loans Closing costs 102

Housing Wire

NOVEMBER 17, 2022

Mortgage industry executives are echoing the sentiment that Ginnie Mae’s risk-based capital requirement is currently the main concern for companies holding mortgage servicing rights (MSR). According to industry leaders, the rule can force a sell-off wave, reduce values and put some lenders and services in a difficult spot.

Marketing 397

Marketing Lending Loans Principal 397

Keeping Current Matters

APRIL 12, 2021

The Banks Don’t Want the Houses Back. Banks have learned lessons from the crash of 2008. 5% were granted a loan deferral where a borrower does not have to pay the lender interest or principal on a loan for an agreed-to period of time. Homeowners have record levels of equity today. 9% were given a loan modification.

Equity 254

Equity Banks Loans Lending 254

Housing Wire

FEBRUARY 10, 2023

The performance was impacted by a mark-to-market of $58 million, adjustments related to severance and property consolidation of $23 million, and equity investment losses of $10 million. trillion in unpaid principal balance (UPB) that needs to be sold in the market. The estimate is for $3.9 trillion from 2023 to 2025. ”

Principal 315

Principal Mortgages Lending Equity 315

RIS Media

SEPTEMBER 21, 2021

The average American household has about $8,800 in the bank. We’re out there each and every day participating in a real estate marketplace that advances small businesses and promotes equity for consumers. Principal Broker at Phipps Realty Inc. And we know that these savings go a long way. Ron Phipps.

Equity 111

Equity Marketing Principal Banks 111

Keeping Current Matters

JULY 28, 2021

million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the overwhelming fear was the pandemic would decimate the housing industry in a similar way. Most of the 1.86M in forbearance have enough equity to sell their home.

Short sale 264

Short sale Equity Principal Mortgages 264

Housing Wire

JULY 22, 2022

Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. The bank calls out 16 non-QM lenders in the text message, indicating it is ramping up scrutiny of its loan reviews, prior to advancing warehouse funding.

Lending 379

Lending Banks Bankruptcy Loans 379

Housing Wire

JUNE 15, 2022

. “Rates are materially, definitely increasing faster than we were anticipating,” Saket Nigam, senior vice president of capital markets at Spring EQ , a home equity lender, said. ” At Spring EQ, demand for home equity loans continues to grow as home prices still increase, and borrowers struggle financially due to inflation.

Mortgages 384

Mortgages Loans Investor Equity 384

Housing Wire

NOVEMBER 16, 2022

trillion in volume, according to industry forecasters. But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. With such a drastic downturn, the pressure for industry consolidation increases dramatically. trillion to $1.7

Banks 409

Banks Mortgages Loan Officer Due diligence 409

Housing Wire

MARCH 3, 2023

Employees who left the company received a package with several months of salary, a portion of their banked time off, benefits coverage through 2022 and career transition services. In a statement issued to HousingWire, a spokesperson said that 2022 was challenging for the housing and mortgage industry. billion.

Loans 304

Loans Mortgages Principal Title 304

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated.

Banks 389

Banks Mortgages Fixed-rate mortgage Loans 389

McKissock

FEBRUARY 13, 2023

He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Jeff is also a member of the Appraisal Foundation’s Diversity, Equity, and Inclusion committee and the Industry Advisory Council (IAC) taskforce. View upcoming Pro-Series webinars. Did you know?

VA loan 85

VA loan Principal Development Title 85

Housing Wire

JANUARY 13, 2021

As part of its Flood Services business, CoreLogic completes flood zone determinations for banks and mortgage companies to support their compliance with the mandatory purchase requirements. The industry will need to come up with ways to help these consumers experience a “soft landing.” The NFIP provides stability for the housing market.

Mortgages 450

Mortgages Investor Loans Technology 450

Housing Wire

SEPTEMBER 10, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. Patrick Conroy, principal at Washington, D.C.-based Register for the FinLedger Daily Newsletter.

Title 254

Title Branding Principal Loans 254

Realty Biz

OCTOBER 9, 2022

We are pleased to sponsor our latest acquisition in the Bloomington-Normal market," said Adriel Deller, Principal at Placemaker Real Estate. million equity investment and a $3.6 million loan from Morton Community Bank. The property was acquired in an off-market transaction direct with the seller for $5 million. "We

Principal 88

Principal Investor Property Management Equity 88

McKissock

FEBRUARY 13, 2023

He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Jeff is also a member of the Appraisal Foundation’s Diversity, Equity, and Inclusion committee and the Industry Advisory Council (IAC) taskforce. View upcoming Pro-Series webinars. Did you know?

VA loan 52

VA loan Principal Development Title 52

Realtor.com

JULY 5, 2021

The epic surge in home prices has people looking to save money on monthly payments anywhere they can,” says Matt Graham , chief of operations at the industry publication Mortgage News Daily. That’s where people get in trouble, if they’re not paying down principal and building equity,” says Phillips.

Mortgages 121

Mortgages Fixed-rate mortgage Principal Loans 121

Housing Wire

APRIL 24, 2024

Additionally, its return on tangible common equity rose to 14.5% The company has started the year with excellent momentum, including return on tangible common equity rising to 14.5%,” Chairman and CEO Jay Bray said in a statement. billion in unpaid principal balance (UPB). in Q1 2024, up from 12.5% in the fourth quarter of 2023.

Equity 328

Equity Lending Principal Technology 328

Housing Wire

SEPTEMBER 20, 2023

That demand means now is an opportune time for smaller, struggling independent mortgage banks (IMBs) to sell MSRs to manage cash flow and their balance sheets as pricing is likely at a high point in the market. “I Typically, we see for the industry average about 30% [MSR] retention and 70% released [or sold].

Banks 391

Banks Loans Principal Investor 391

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

Principal 378

Principal Banks Loans Lending 378

Housing Wire

DECEMBER 29, 2023

Jon Overfelt, director of sales and principal at American Security Mortgage Corp. Home equity is really a no-brainer today. The rate and term and cash-out refinance market will rely on rates decreasing, but even if they move to 6% next year, the industry will struggle with refinances.

Mortgages 450

Mortgages Loan Officer Loans Equity 450