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. Purchase loans are simply harder to market and convert, harder to process, and they generate lower revenues and higher expenses.”.

Banks 390

Banks Mortgages Loans Equity 390

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. Charting the loan officer exit.

Loan Officer 403

Loan Officer Loans Mortgages Industrial 403

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

Mortgages 324

Mortgages Marketing Loans Banks 324

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

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Equity Marketing Loans Bankruptcy 500

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. 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. in 2021 to 15.3%

Marketing 296

Marketing Banks Principal Loans 296

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, the bulk MSR market should be incredibly robust throughout 2022.”. You just never know. billion, or 8.2%

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Marketing Principal Banks Loans 360

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

Loans 292

Loans Marketing Due diligence Residential 292

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 375

Mortgages Principal Loans Loan Officer 375

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. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24

Marketing 366

Marketing Bankruptcy Loans Principal 366

Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024. this year before declining to a range of 6% to 7% in 2025.

Industrial 401

Industrial Mortgages Banks Principal 401

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 392

Sales Principal Loans Banks 392

Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. million to $23.7

Purchase and sale agreement 352

Purchase and sale agreement Marketing Equity Banks 352

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 352

Mortgages Seller concession Principal Loans 352

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. Market speculation has been rife since January of this year that Wells Fargo was preparing to sell some sizable MSR packages, HousingWire reported previously.

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Principal Loans Banks Mortgages 402

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.

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Principal Loans Investor Industrial 407

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. “But we expect more to come from the banks.

Principal 343

Principal Banks Equity Loans 343

Housing Wire

NOVEMBER 17, 2022

Government and conforming loans held for sale would have a 20% risk weight. Other loans held for sale would have a 50% risk weight. Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” They will depress it (the market).

Marketing 366

Marketing Lending Loans Principal 366

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Loan production Spector told analysts that the company’s multichannel approach to production enables consistent access to the origination market in the current high-rate environment. Pennymac’s total loan acquisitions and originations reached $25.1 million in Q2 2023.

Fixed-rate mortgage 372

Fixed-rate mortgage Principal Banks Loans 372

Housing Wire

FEBRUARY 15, 2023

The TrustEngine Borrower Intelligence Platform, as the platform is called, wraps around the entire mortgage tech stack to drive origination volume by “identifying loan opportunities and engagement strategies tailored to each borrower’s needs,” the companies said in a statement Wednesday.

Sales 322

Sales Mortgages Loans Loan Officer 322

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. .

Industrial 342

Industrial Mortgages Principal Loans 342

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

Banks 359

Banks Bankruptcy Loans Investor 359

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. John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 406

Mortgages Banks Loans Industrial 406

Housing Wire

JULY 27, 2023

billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Loan production Regarding the origination segment, Pennymac had $24.4 Loan production Regarding the origination segment, Pennymac had $24.4 Pennymac’s total loan acquisitions and originations reached $24.9 of the loan servicing market, 2.6%

Banks 284

Banks Principal Loans Commercial 284

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 435

Banks Lending Loans Principal 435

Housing Wire

FEBRUARY 16, 2023

LauraMac, a provider of mortgage loan review SaaS technology, has appointed Rick Seehausen as its chief strategy officer. I look forward to working closely with Rick to leverage the success of our Loan Review System, prepare the launch of our Loan Acquisition System, and guide us in the development of new product lines.”

Loans 299

Loans Principal Technology Development 299

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. to 4.75% range, up from 0.25% a year ago.

Marketing 361

Marketing Banks Mortgages Investor 361

Realty Biz

DECEMBER 22, 2023

has just released its EMI Calculator, an efficient solution to simplify loan repayment planning. This tool benefits individuals and financial professionals, providing a simple method to compute monthly loan repayments. Prepayment Analysis : EMI calculators allow borrowers to evaluate the impact of prepayments on their loans.

Loans 90

Loans Principal Finance Banks 90

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. Loan production was $99.4

Technology 352

Technology Loans Principal Mortgages 352

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

Industrial 371

Industrial Mortgages Purchase and sale agreement Banks 371

Housing Wire

OCTOBER 26, 2023

New York-based Rithm Capital’s profits declined in the third quarter of 2023, when the real estate investment trust got involved in a dispute for Sculptor Capital Management and announced the acquisition of Specialized Loan Servicing. ” Expectations for servicing Loan servicing contributed $444.5 million in Q2. .”

Principal 365

Principal Loans Mortgages Banks 365

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The home equity investment is a new concept for many homeowners and is still small compared to the size of the traditional mortgage market. The annual investment volume in the U.S.

Equity 383

Equity Finance Purchase and sale agreement Investor 383

Housing Wire

OCTOBER 8, 2021

The private-label residential mortgage-backed securities market has been resurrected from its near-death following the global financial crisis a decade and a half ago. This year it is on track to securitize loan volume approaching or even exceeding $100 billion, and driving a healthy share of that secondary market business is J.P.

Principal 285

Principal Banks Loans Residential 285

Housing Wire

APRIL 27, 2023

However, Pennymac’s profitability declined compared to the previous quarter amid a still-challenging mortgage market. 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.

Principal 353

Principal Banks Loans Mortgages 353

Housing Wire

DECEMBER 15, 2021

Loan originations in dollars increased by more than 25% since the third quarter of 2020, and 44% of loan clients are in Latin America. 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.

Mortgages 413

Mortgages Lending Banks Investor 413

Housing Wire

APRIL 8, 2022

Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I This is the company that helped pioneer today’s non-QM market, and they continue to advance the industry.”.

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Sales Lending Principal Banks 356

Housing Wire

OCTOBER 22, 2020

mortgage rate for a 30-year fixed loan fell to 2.8% According to Fed data, the central bank has bought over $1 trillion in bonds backed by home loans since then. While purchase loans are seeing record-low rates, the adverse market fee imposed on refinance loans by the FHFA in August make record lows for those loans unlikely.

Mortgages 535

Mortgages Principal Loans Banks 535