Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 367

Mortgages Banks Marketing Residential 367

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 395

Mortgages Marketing Banks Investor 395

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks.

Mortgages 394

Mortgages Loan Officer Lending Principal 394

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 436

Mortgages Banks Loans Industrial 436

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

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Principal Loans Banks Mortgages 417

Housing Wire

MAY 31, 2021

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. Senate Finance Committee.

Principal 369

Principal Banks Finance Mortgages 369

Housing Wire

MARCH 23, 2022

We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. The loans may include interest-only , 40-year terms or other creative financing features often designed to lower monthly payments.

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Banks Bankruptcy Loans Investor 382

Housing Wire

DECEMBER 15, 2021

The Bitcoin-backed mortgage product accepts Bitcoins and properties as collateral for loans to clients that want to purchase new real estate or finance a property they already own. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

Mortgages 417

Mortgages Lending Banks Investor 417

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.

Equity 524

Equity Marketing Loans Bankruptcy 524

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. The CSBS liquidity requirements also conform to the requirements the Federal Housing Finance Agency already has. basis points of total servicing unpaid principal balance.

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Principal Banks Mortgages Loans 370

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. In servicing, Pennymac delivered a pretax income of $101.2 million in Q3 2023, up from $46.5 million in Q2 2023.

Fixed-rate mortgage 414

Fixed-rate mortgage Principal Banks Loans 414

RIS Media

DECEMBER 6, 2020

Federal Housing Finance Agency (FHFA) Director Mark Calabria issued a statement at the Financial Stability Oversight Council Principals meeting. “As the annual report describes, strong labor markets and house price appreciation created a solid foundation under America’s mortgage finance system at the start of 2020.

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Principal Finance Banks Loans 82

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% About 9.1%

Mortgages 417

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 417

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.

Loan Officer 407

Loan Officer Loans Mortgages Industrial 407

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

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Finance FHA loan Investor Loans 96

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%. The residential real estate industry faces an interesting dynamic of rising mortgage rates while, at the same time, homeowners have record equity in their homes.

Equity 395

Equity Fixed-rate mortgage Principal Mortgages 395

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%. The residential real estate industry faces an interesting dynamic of rising mortgage rates while, at the same time, homeowners have record equity in their homes.

Equity 383

Equity Fixed-rate mortgage Principal Loans 383

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. million to $23.7

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

RIS Media

NOVEMBER 30, 2020

The Mortgage Bankers Association (MBA) recently announced the members of its Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) for 2021. “MBA boasts a strong leadership group of professionals from all facets of commercial real estate finance. – Gregg Gerken, TD Bank. – Jack Gay, Nuveen.

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Commercial Finance Principal Investor 82

Housing Wire

MARCH 3, 2022

The dossier unveils everything from CEO Robert Reffkin’s ability to soon control 67% of the company to an all-you-can-eat buffet of details on an up to $600 million revolving line of credit provided by Barclay’s Bank. Compass has made agent productivity a calling card – the firm’s principal agents do 2.7 Agent productivity.

Brokerage 369

Brokerage Principal Agents Staging 369

HomeLight

AUGUST 31, 2022

To help you examine your equity’s potential to enhance your financial situation, we’ve asked industry experts to explain the options. If you meet eligibility requirements, many banks, credit unions, and other financial institutions have loans that allow homeowners to convert part of their equity to cash.

Equity 102

Equity Finance Loans Closing costs 102

Keeping Current Matters

APRIL 12, 2021

The Banks Don’t Want the Houses Back. Banks have learned lessons from the crash of 2008. As an example, about 50% of all mortgages are backed by the Federal Housing Finance Agency (FHFA). Just like the banks, homeowners learned a lesson from the housing crash too. “In 9% were given a loan modification.

Equity 255

Equity Banks Loans Lending 255

Housing Wire

FEBRUARY 7, 2023

Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. Driving home the concern over MSR pricing declines is a recent advisory bulletin issued by the Federal Housing Finance Agency (FHFA), which overseas Fannie Mae and Freddie Mac.

Investor 304

Investor Finance Loans Mortgages 304

Housing Wire

FEBRUARY 14, 2023

Fortunately, today’s modern mortgage software and web applications make it easier for servicers to provide the tools and exceptional communication that borrowers — and the Consumer Finance Protection Bureau — expect. Additionally, borrowers can log into online banking to view their statements electronically.

Loans 367

Loans Investor Mortgages Principal 367

Toronto Realty Blog

NOVEMBER 10, 2023

Short history lesson here, but the Financial Crisis, which I’m electing to capitalize, was a learning experience for Canada’s mortgage industry. As a result, the Bank of Canada then took significant steps to strengthen the already strong Canadian mortgage industry, implementing several important changes.

Mortgages 77

Mortgages Principal Banks Loans 77

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 362

Banks Debt-to-income ratio Lending Loans 362

Housing Wire

JUNE 15, 2022

“The industry was already trying to rightsize from a $4 trillion market to a $2.5 trillion market, but now, just given the spike in rates, it’s going to be lower than that,” said Mike Fratantoni, Mortgage Bankers Association’s chief economist and senior vice president of research and industry technology.

Mortgages 383

Mortgages Loans Investor Equity 383

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.

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Loans Mortgages Principal Title 338

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. Orchard has also raised a total of $220 million in debt financing since its September 2017 inception. Patrick Conroy, principal at Washington, D.C.-based

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RIS Media

MARCH 3, 2022

A creator of large-scale data and applied science solutions, he brings to zavvie three decades of diverse industry experience from a wide range of industries: e-commerce and banking and finance, telecommunications and logistics.

Technology 98

Technology Brokerage Principal Industrial 98

Housing Wire

MAY 23, 2022

These include expected prepayment rates, expectations of net supply to the market, and drivers of net demand from different investors including banks, Fannie Mae and Freddie Mac (the GSEs), asset managers, global investors, and in recent times, the Federal Reserve. The secondary market entities face a different challenge.

Loans 395

Loans Mortgages Investor Industrial 395

Housing Wire

MARCH 14, 2022

As the principal broker for a RE/MAX franchise in coastal Cannon Beach, Oregon, Alaina Giguiere’s typical responsibilities include marketing homes for sellers, touring homes with buyers, generating new business leads, managing client relationships, and drafting and reviewing contracts with buyers and sellers.

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Industrial Title Commercial Banks 407

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

MARCH 17, 2022

Similarly, the Federal Housing Finance Agency ’s [FHFA’s] suspension of the cap on agency purchases of investment properties and second homes this past September has continued to create a drag on those deals flowing into the PLS market. “The Pelka agrees that the PLS market is under pressure. “In That’s not a good combination,” Toohig added.

Loans 350

Loans Marketing Due diligence Residential 350

RIS Media

SEPTEMBER 21, 2021

The average American household has about $8,800 in the bank. Most lenders don’t allow real estate broker commissions to be financed. Principal Broker at Phipps Realty Inc. Phipps is principal broker of Phipps Realty, a family business started by his mother in 1976. Ron Phipps.

Equity 111

Equity Marketing Principal Banks 111

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

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Commercial Brokerage Due diligence Title 414

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]. trillion, up some 92%.

Banks 403

Banks Loans Principal Investor 403