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 416

Industrial Mortgages Banks Principal 416

Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s s reverse division to transition back into a role as a reverse mortgage broker. That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.”

Development 410

Development Industrial Mortgages Loans 410

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. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 379

Loans Debt-to-income ratio Banks Mortgages 379

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. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Most industry growth must come from proprietary loans.”

Mortgages 368

Mortgages Seller concession Principal Loans 368

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 353

Mortgages Marketing Banks Investor 353

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 371

Loans FHA loan Principal Marketing 371

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 363

Sales Banks Principal Loans 363

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. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 354

Industrial Mortgages Principal Loans 354

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well. trillion portfolio of MBS.

Mortgages 420

Mortgages Banks Loans Industrial 420

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 336

Mortgages Banks Marketing Residential 336

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 332

Sales Mortgages Loans Loan Officer 332

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. million. .

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 352

Marketing Principal Banks Loans 352

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. Aimee Quinn, president of Nations Direct Mortgage, said his experience will be put toward expansion across the U.S. .

Sales 364

Sales Mortgages Principal Equity 364

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.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.” This represents $15.6

Mortgages 414

Mortgages Bankruptcy Principal Finance 414

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. What does it mean for buyers, sellers?

Industrial 381

Industrial Mortgages Purchase and sale agreement Banks 381

Housing Wire

MARCH 19, 2024

It also included reduced compensation for loan officers, sources told HousingWire in February. Prior to joining Rithm, he held executive positions at Bank of America Merrill Lynch , J.P. Nierenberg has been the president and CEO of Rithm since November 2013 and chairman since May 2016. Morgan , Bear Stearns , and Lehman Brothers.

Equity 328

Equity Loan Officer Principal Loans 328

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Loans amounts are equal to 50% of the combined value of both Bitcoins and property. dollars for mortgage transactions.

Mortgages 421

Mortgages Lending Banks Investor 421

Housing Wire

OCTOBER 22, 2020

mortgage rate for a 30-year fixed loan fell to 2.8% The average fixed rate for a 15-year mortgage was 2.33%, falling from last week’s 2.35%. After this week’s dip, there have now been 13 consecutive weeks when average mortgage rates have been below 3%, and rates have broken records 11 times this year.

Mortgages 537

Mortgages Principal Loans Banks 537

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. Mortgage rates have nearly doubled to around 6.5% Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage.

Mortgages 416

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 416

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgages 381

Mortgages Loan Officer Lending Principal 381

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. Among mortgage brokers, Cohen ranked first. Kim: You also do a lot of non-QM loans.

Mortgages 334

Mortgages Marketing Loans Banks 334

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Pleadings filed in the case — now pending in U.S.

Bankruptcy 390

Bankruptcy Banks Pre-approval Principal 390

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The lender’s correspondent clients include other banks and mortgage companies.

Mortgages 368

Mortgages Lending Loans Banks 368

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. Think technology and service providers, too — a smaller mortgage market affects everyone.

Industrial 450

Industrial Mortgages Principal Technology 450

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? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgages 344

Mortgages VA loan Loans Technology 344

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The government-sponsored enterprise will start accepting such loans immediately. The loan must be secured by a principal residence. There may be more to come.

Principal 496

Principal Loans Banks Closing costs 496

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 412

Principal Loans Banks Mortgages 412

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. LLR Partners, which led a $26.5

Investor 293

Investor Sales Mortgages Loan Officer 293

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 397

Sales Principal Loans Banks 397

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 393

Lending Bankruptcy Mortgages Principal 393

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept. As of Sept.

Fixed-rate mortgage 386

Fixed-rate mortgage Principal Banks Loans 386

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 421

Principal Loans Investor Industrial 421

Housing Wire

FEBRUARY 14, 2024

Analysts in the mortgage industry are projecting that 2024 will be a better year than 2023 across the board. In a HousingWire report , analyst firm Jeffries said that they believe the worst of the current mortgage cycle is behind us, and Moody’s forecasts that the Federal Reserve will decrease rates three or four times this year.

Investor 328

Investor Loans Mortgages Principal 328

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 367

Banks Bankruptcy Loans Investor 367

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. Mortgage volumes increased to $11 billion in Q3, higher than the $9.9 million in Q2.

Principal 378

Principal Loans Mortgages Banks 378

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. A federal judge sided with Change in September, allowing the originator to continue its mortgage offerings for underserved borrowers until at least December.

Lending 375

Lending Principal Finance Loans 375