Housing Wire

MARCH 6, 2024

In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3

Equity 398

Equity Mortgages Banks Commercial 398

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 consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397

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 367

Investor Sales Mortgages Loan Officer 367

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower.

Marketing 407

Marketing Principal Banks Loans 407

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 397

Industrial Mortgages Purchase and sale agreement Banks 397

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. The report was based on unnamed sources and indicated the sales were being handled “inhouse.” Wells Fargo & Co. billion as of the end of 2022, U.S.

Principal 421

Principal Loans Banks Mortgages 421

Housing Wire

FEBRUARY 13, 2023

In April 2022, Deephaven appointed Anthony Gulotta to lead its wholesale sales on the East Coast and in June, Paul Howarth as its regional vice president of wholesale sales, to expand the firm’s non-QM footprint in the western half of the country. among others. million security backed by non-QM mortgages.

Mortgages 380

Mortgages Principal Banks Equity 380

Housing Wire

APRIL 26, 2023

million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. ” Meanwhile, performance in the originations segment “was a welcome surprise to the upside after several quarters of tightening gain-on-sale margins and declining volumes.”

Principal 384

Principal Banks Equity Loans 384

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 407

Mortgages Marketing Banks Investor 407

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. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes.

Fixed-rate mortgage 421

Fixed-rate mortgage Principal Banks Loans 421

Housing Wire

AUGUST 4, 2022

There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. The loan must be secured by a principal residence. For banks, there is a potential incentive for making targeted programs. Fannie Mae did not respond to a request to comment.

Principal 496

Principal Loans Banks Closing costs 496

Housing Wire

APRIL 3, 2023

In February, the number of homes available for sale fell for the fifth consecutive month, and new listings ran 27% below pre-pandemic levels. In addition, 47 of 50 markets saw their active listing count decline that month. On the bright side, homeowners with mortgages still had $9.3 Meanwhile, refinance volumes remained low at 12.5%

Principal 397

Principal Banks Mortgages Equity 397

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 450

Technology Development Title Lending 450

Housing Wire

FEBRUARY 16, 2022

Bill Shirreffs, head of MSR services and sales operations at San Diego-based Mortgage Capital Trading , agrees with Carnes’ bullish assessment of the MSR market. Incenter completed a dozen bulk MSR sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2

Marketing 384

Marketing Principal Banks Loans 384

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity. .”

Principal 86

Principal Development Brokerage Residential 86

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. I think there were only two or three sales last month in LA County over $5 million.

Mortgages 383

Mortgages Marketing Loans Banks 383

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. For 2023, slightly greater than 1.1

Mortgages 441

Mortgages Banks Loans Industrial 441

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 408

Purchase and sale agreement Equity Principal Banks 408

Housing Wire

OCTOBER 26, 2023

Gain-on-sale margins improved to 1.28% in Q3, up from 1.23% in Q2. The company’s mortgage servicing rights portfolio (MSRs) totaled $595 billion in unpaid principal balance (UPB) as of Sept. Originations delivered only $7 million in profits, compared to $8.7 million in Q2. billion the previous quarter.

Principal 409

Principal Loans Mortgages Banks 409

Housing Wire

JULY 26, 2023

Mr. Cooper’s chairman and CEO, Jay Bray , said the company delivered “strong margins in both servicing and operations, while Xome generated higher sales this quarter.” million customers and $882 billion in unpaid principal balance (UPB) at the end of June, compared to $853 billion at the end of March.

Loans 370

Loans Principal Banks Closing 370

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. 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

Housing Wire

MARCH 20, 2024

That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” Consumers are more motivated and more energized, even though rates are still up and principal limits are down. And so even without a lot of effort, that means that there’s something going on.

Development 431

Development Industrial Mortgages Loans 431

Housing Wire

JANUARY 25, 2023

Market speculation that Wells Fargo is contemplating a huge bulk sale of mortgage servicing rights (MSRs) may well be a case of a rumor that is all hat and no cattle. That doesn’t rule out that the banking behemoth might still have a such a deal in the works, however. Or it could signal a future MSR-market stampede. of the entire $8.4

Banks 383

Banks Loans Mortgages Sales 383

Housing Wire

AUGUST 9, 2022

LLC , recently announced that it is exploring a potential company sale or merger in the wake of posting a $22.4 That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date. million loss in the first quarter. WMC, with some $2.8 and a low of $11.00.The

Marketing 397

Marketing Bankruptcy Loans Principal 397

Housing Wire

SEPTEMBER 22, 2022

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% The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies. Existing home sales are down 19.9%

Mortgages 421

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 421

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 421

Marketing Fixed-rate mortgage Loan Officer Pre-approval 421

Housing Wire

JUNE 15, 2023

For instance, the retail sales report and jobless claims this week will be an indication as to which direction the bond market and mortgage rates will move, Cohn noted. “If Where mortgage rates will go will depend on how the markets react to new economic data, Melissa Cohn, regional vice president of Wlliam Raveis , said.

As-is 384

As-is Industrial Fixed-rate mortgage Mortgages 384

Housing Wire

FEBRUARY 14, 2024

In the article, Moody’s said they anticipate an increase in MSR sales in 2024, which will result in a short-term gain in liquidity at the expense of a weaker franchise in the future. Additionally, borrowers can log into online banking for up-to-date information and to view their statements electronically.

Investor 399

Investor Loans Mortgages Principal 399

Housing Wire

MARCH 1, 2023

That reflects a substantial reduction in new and existing-home sales and refinancing. Net issuance represents new securities issued less the decline in outstanding securities due to principal paydowns or prepayments. The effective supply the private market sees is organic net issuance plus Fed runoff/sales,” the Amherst report states.

Marketing 384

Marketing Banks Mortgages Investor 384

Housing Wire

APRIL 1, 2024

In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period. From a consumer protection standpoint, it’s a bit of a Wild West,” said Jenny Song, principal at Navitas Capital , a real estate and construction technology-focused venture capital firm.

Equity 440

Equity Finance Purchase and sale agreement Investor 440

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. According to Bosley, the top 20 or 25 issuers control most of Ginnie Mae’s servicing, and banks are already not excited about servicing these loans. . “It’s a scary situation.”

Marketing 420

Marketing Lending Loans Principal 420

Calculated Risk Real Estate

SEPTEMBER 8, 2023

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 125

Closing Equity Principal Short sale 125

Housing Wire

AUGUST 26, 2022

HousingWire recently spoke with Lee Smith and John Gibson at Flagstar Bank about what originators can do to align their mortgage products and services with the ebb and flow of the housing market and what Flagstar is doing to help clients remain at the top of their game during this turbulent time.

Mortgages 370

Mortgages VA loan Loans Technology 370

Calculated Risk Real Estate

MARCH 7, 2024

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 68

Closing Equity Principal Short sale 68

Housing Wire

MAY 3, 2022

The MSR portfolio totaled $626 billion in unpaid principal balance in March, compared to $629 billion in December. The total gain-on-sale margin declined to 1.53% in the first quarter, from 1.65% in the last three months of 2021. The main contribution came from the servicing portfolio. Income from servicing before taxes totaled $906.3

Residential 367

Residential Principal Loans Mortgages 367

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. Shant Banosian, executive vice president of sales at Guaranteed Rate , laid off about 50% of his team, and Thuan Nguyen, CEO of Loan Factory , reduced his company size by half this year. non-Bank financial institutions at Fitch Ratings.

Equity 526

Equity Marketing Loans Bankruptcy 526

Realty Biz

SEPTEMBER 18, 2023

This legal document enables someone to handle property matters on behalf of another person when the principal cannot manage real estate affairs or deal with transactions from a distance. In certain situations, a power of attorney for real estate becomes necessary. When selling a home while out of state, people commonly utilize it.

Principal 114

Principal Property Management Title Inspection 114