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. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., As far as the interest in reverse mortgages, it has been steady,” he said.

Mortgages 427

Mortgages Principal Loans Loan Officer 427

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% No pressure, really — the Ginnie Mae market is very liquid,” he said.

Mortgages 436

Mortgages Seller concession Principal Loans 436

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 383

Mortgages Marketing Loans Banks 383

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 437

Mortgages Banks Loans Industrial 437

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 435

Sales Banks Principal Loans 435

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.

Industrial 395

Industrial Mortgages Purchase and sale agreement Banks 395

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 395

Industrial Mortgages Principal Loans 395

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 446

Mortgages Bankruptcy Principal Finance 446

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. to 2.0%.

Marketing 369

Marketing Banks Principal Loans 369

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 383

Sales Mortgages Loans Loan Officer 383

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. million security backed by non-QM mortgages. among others.

Mortgages 382

Mortgages Principal Banks Equity 382

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” But the housing market in the second half of 2022? “The By September, a full-fledged housing market recession had set in.

Equity 525

Equity Marketing Loans Bankruptcy 525

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. In those offering, 100% of the FHA loans involved are delinquent — with about a quarter of the mortgages in each deal in active foreclosure. in active foreclosure.

Loans 395

Loans FHA loan Principal Marketing 395

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.

Marketing 383

Marketing Principal Banks Loans 383

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% Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 417

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 417

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. The average U.S.

Mortgages 536

Mortgages Principal Loans Banks 536

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 395

Mortgages Loan Officer Lending Principal 395

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. 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

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 417

Marketing Fixed-rate mortgage Loan Officer Pre-approval 417

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. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

Investor 379

Investor Sales Mortgages Loan Officer 379

Housing Wire

FEBRUARY 3, 2022

Incenter Mortgage Advisors was flooded with a surge of mortgage-servicing rights business in January — with bulk MSR sales approaching in one month what the firm normally tallies in an entire year. The big trigger was we had a half-point increase in the 30-year par rate [for a mortgage] in January,” he said in a recent interview.

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

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. trillion and to nearly $9.3

Marketing 383

Marketing Banks Mortgages Investor 383

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 370

Mortgages Lending Loans Banks 370

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. The mortgage industry has been going through these cycles since the 1980s.

Industrial 446

Industrial Mortgages Principal Technology 446

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 395

Marketing Bankruptcy Loans Principal 395

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 370

Mortgages VA loan Loans Technology 370

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 417

Fixed-rate mortgage Principal Banks Loans 417

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). Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.”

Marketing 417

Marketing Lending Loans Principal 417

Housing Wire

APRIL 3, 2023

Declining mortgage rates could have improved affordability for buyers in the housing market in February, but instead spurred a demand that, combined with a persistent lack of inventory across the U.S., In total, 39 of the 50 largest markets saw home prices increase on an adjusted basis in February. In February, it took 33.2%

Principal 395

Principal Banks Mortgages Equity 395

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.

Principal 417

Principal Loans Banks Mortgages 417

Housing Wire

APRIL 1, 2024

“And with rising home prices and the growing burden of traditional mortgage debt, homeowners are looking to tap into their home equity without taking on additional debt.” The home equity investment is a new concept for many homeowners and is still small compared to the size of the traditional mortgage market.

Equity 437

Equity Finance Purchase and sale agreement Investor 437

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 379

Principal Banks Loans Residential 379

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 505

Banks Lending Loans Principal 505

Housing Wire

JULY 27, 2023

Although the performance was propelled by its servicing portfolio – as occurred in previous quarters – mortgage production returned to profitability. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. of the loan servicing market, 2.6% The company reported on Thursday its net income came in at $58.3

Banks 368

Banks Principal Loans Commercial 368

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulatta, based in Charlotte, will work to build the lender’s presence with mortgage brokers on non-agency products. Before joining Deephaven, Heitzmann was principal at LGH Consulting.

Sales 383

Sales Lending Principal Banks 383

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 383

Banks Bankruptcy Loans Investor 383

Housing Wire

SEPTEMBER 16, 2022

LLC (PIMCO) for Pool 1, DLJ Mortgage Capital Inc. The reperforming-loan pools were marketed with Citigroup Global Markets In c. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. “In The transaction is slated to close by October 26.

Sales 395

Sales Principal Loans Banks 395