Housing Wire

JUNE 15, 2023

​​The Federal Reserve ‘s (Fed) interest rate hike pause will give the housing industry a cautious sigh of relief, but observers are already nervous that the rate-induced pain train won’t come to a complete stop for a while longer and volatility will remain. The industry wants a complete stop.

As-is 361

As-is Industrial Fixed-rate mortgage Mortgages 361

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021. Time to eat the minnows?

Banks 393

Banks Mortgages Loans Equity 393

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 362

Marketing Principal Banks Loans 362

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible.

Mortgages 372

Mortgages Banks Equity Land 372

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages 376

Mortgages Seller concession Principal Loans 376

Housing Wire

JULY 12, 2023

BlackFin Group announced on Wednesday the appointment of Christopher Call as the principal consultant on the BlackFin Group Professional Services team. Founded in 2019, BlackFin Group is a management consulting firm specializing in strategic guidance, operational expertise, and innovative solutions for the banking and mortgage industries.

Principal 318

Principal Technology Banks Mortgages 318

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 422

Principal Loans Investor Industrial 422

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 396

Mortgages Principal Loans Loan Officer 396

Housing Wire

JULY 27, 2023

billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Executives said the channel tends to represent a larger percentage of total industry originations in a low-volume environment because liquidity becomes relevant for many sellers. The servicing segment pretax income was $46.5 million in Q2 2023, down from $57.4

Banks 308

Banks Principal Loans Commercial 308

Housing Wire

APRIL 8, 2022

“I believe that non-QM/non-agency lending represents the next phase of the mortgage industry, and I’m excited to influence it at Deephaven,” Gulotta said in a statement. This is the company that helped pioneer today’s non-QM market, and they continue to advance the industry.”. Presented by: Angel Oak.

Sales 371

Sales Lending Principal Banks 371

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 349

Mortgages Banks Marketing Residential 349

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 392

Fixed-rate mortgage Principal Banks Loans 392

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 4, 2024

Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume. million of [unpaid principal balance (UPB)] that may not otherwise have been issued in December.”

Mortgages 419

Mortgages Bankruptcy Principal Finance 419

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 386

Banks Principal Finance Equity 386

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 422

Mortgages Banks Loans Industrial 422

Housing Wire

FEBRUARY 2, 2023

Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. Therefore, its results portend a challenging quarter for the non-bank mortgage sector,” Kornfeld said. trillion to $1.9

Marketing 320

Marketing Banks Principal Loans 320

Housing Wire

FEBRUARY 15, 2023

The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions. In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 345

Sales Mortgages Loans Loan Officer 345

Housing Wire

FEBRUARY 16, 2023

Seehausen’s professional career spans nearly three decades in the mortgage industry. Prior to joining LauraMac, he served as a principal at LauraMac’s parent company Calterra Capital, where he continues to be an executive advisor to personal holdings. where he will continue to serve in this role.

Loans 324

Loans Principal Technology Development 324

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

Principal 410

Principal Loans Banks Mortgages 410

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 363

Mortgages Marketing Banks Investor 363

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 399

Lending Bankruptcy Mortgages Principal 399

Housing Wire

APRIL 27, 2023

Servicing “is a critically important asset and has driven much of the success that we have enjoyed in mortgage banking,” David Spector, chairman and CEO, said in a recorded earnings message. billion in unpaid principal balance (UPB) as of March 31, up 2% from December 31. million in Q1 2023, down from $37.6 trillion to $1.8

Principal 364

Principal Banks Loans Mortgages 364

Housing Wire

JUNE 2, 2022

NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 385

Mortgages Loan Officer Lending Principal 385

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.

Purchase and sale agreement 367

Purchase and sale agreement Equity Principal Banks 367

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. As of yearend 2022, repurchase requests issued and outstanding to bank and IMB loan sellers and servicers by Freddie stood at $1.3

Loans 380

Loans Debt-to-income ratio Banks Mortgages 380

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. REMICs are tax exempt under federal law, although the income earned by investors is taxable. “We

Banks 373

Banks Bankruptcy Loans Investor 373

Housing Wire

APRIL 1, 2024

Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In From the fintech’s point of view, they are going up against larger players — including the banks in the industry with bigger balance sheets.

Equity 405

Equity Finance Purchase and sale agreement Investor 405

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 370

Principal Banks Mortgages Loans 370

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% billion agency MSR portfolio and a 6.2% market share.

Marketing 374

Marketing Principal Banks Loans 374

RIS Media

DECEMBER 6, 2020

Federal Housing Finance Agency (FHFA) Director Mark Calabria issued a statement at the Financial Stability Oversight Council Principals meeting. In response, we instituted a four-month limit on servicers’ obligations to advance principal and interest payments on loans in forbearance. Source: FHFA.

Principal 67

Principal Finance Banks Loans 67

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 378

Loans FHA loan Principal Marketing 378

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 328

Principal Banks Finance Mortgages 328

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 514

Equity Marketing Loans Bankruptcy 514

Housing Wire

DECEMBER 15, 2021

According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal. Some banks, lenders, and fintechs are testing the technology, but the lack of regulatory clarity and fears of volatility have kept these currencies from becoming fully integrated into products and services. .

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

FEBRUARY 14, 2024

Analysts in the mortgage industry are projecting that 2024 will be a better year than 2023 across the board. Additionally, borrowers can log into online banking for up-to-date information and to view their statements electronically.

Investor 339

Investor Loans Mortgages Principal 339

Housing Wire

FEBRUARY 2, 2024

“2023 was one of the more challenging origination markets in recent history, with industry volumes down approximately 40% from 2022 and unit originations at their lowest level since 1990,” David Spector, chairman and CEO, told analysts during a call on Thursday afternoon. California-based Pennymac delivered a $144.7

Technology 374

Technology Loans Principal Mortgages 374