Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

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Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. Blend went public on July 16 and closed its first day of trading at $20.90 The stock price hit a closing low of $17.26

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Equity Lending Banks Development 410

Housing Wire

DECEMBER 9, 2021

During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Total operating income for the industry was up 53.3% Today, borrowers expect to close fast. The industry has paid out $352.5 The American Land Title Association saw a 32.5%

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Housing Wire

AUGUST 25, 2023

Closing the gap is paramount to uplifting individuals and households from underserved communities. We have a responsibility as a mortgage and financial services industry to drive meaningful change and create a more equitable path to homeownership. Inclusion cannot happen in a vacuum.

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Closing Equity Mortgages Industrial 370

Housing Wire

AUGUST 9, 2022

The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). The contribution from the digital home equity line of credit (HELOC) to increase revenues in 2022 will be “modest,” as it will be launched by the fourth quarter, Martell said.

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Closing Principal Lending Loans 479

Housing Wire

MARCH 25, 2021

The private mortgage insurance industry also supported $600 billion in mortgage originations. The mortgage insurance industry also updated its guides and processes to align with the Federal Housing Finance Agency (FHFA) and the GSEs’ policies to implement nationwide forbearance programs. The result was approximately $1.3

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Industrial Mortgages FHA loan Finance 544

Housing Wire

JUNE 14, 2021

ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. ” In the past year, DocMagic has made headlines in the digital closing space. Digital mortgage platform DocMagic Inc.

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Technology Closing Lending Mortgages 397

Housing Wire

MARCH 17, 2021

Lovell Minnick Partners , a private equity firm that acquired ATTOM Data Solutions in 2019, announced Wednesday morning that it’s diving further in to the housing space with the acquisition of UniversalCIS. Steve Ozonian, an advisor to Lovell Minnick and an industry veteran, will also join the board.

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Equity Technology Lending Title 384

Housing Wire

JULY 8, 2021

Private equity firms Flexpoint Ford and Vestar Capital Partners have bought Lereta LLC , a provider of real estate tax and flood solutions for mortgage servicers, the companies announced this week. The transaction is expected to close within a month. Financial details of the transaction were not disclosed.

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Equity Commercial Technology Loans 397

Housing Wire

FEBRUARY 7, 2022

San Francisco-based fintech firm Unison plans several securitization deals to market in 2022, with private label offerings backed by home-equity assets. Unison, through an REA contract, advances the homeowner a portion of the equity in the property in exchange for a lien position and a share of the home’s future appreciation.

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Equity Marketing Investor Finance 368

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. Curtis Mangus.

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Loans Closing Mortgages Equity 520

Housing Wire

SEPTEMBER 6, 2023

Pro-competitive, pro-consumer local MLS broker marketplaces ensure equity, efficiency, transparency and market-driven pricing options for home buyers and sellers,” Mantill Williams, NAR’s vice president of communications, wrote in an email to HousingWire.

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Industrial MLS Agents Equity 421

Housing Wire

APRIL 29, 2024

A reverse mortgage is a type of home equity loan extended, in most cases, to those who are 62 years of age or older,” the announcement stated. “It A lender makes monthly payments to you based on the equity in your home, using your home as collateral.

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Mortgages Equity Loans Closing 421

Housing Wire

JANUARY 10, 2023

As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”. Wells Fargo’s future in mortgages has been the subject of widespread industry speculation for years.

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Closing Lending Banks Equity 485

Housing Wire

JULY 30, 2021

This is according to Shelley Giordano, head of enterprise integration at Mutual of Omaha Mortgage and co-founder of the Academy for Home Equity in Financial Planning at the University of Illinois Urbana-Champaign. “So, Our industry has never, ever recovered from not being able to sit shoulder-to-shoulder at bank branches and share clients.

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Industrial Mortgages Loan Officer Banks 410

Housing Wire

JULY 14, 2022

As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. Older Americans are sitting on a record $10 trillion in home equity.

Equity 370

Equity Mortgages Lending As-is 370

Housing Wire

APRIL 28, 2022

Cost to originate a loan: In the manufacturing industry, it’s common to analyze standard costs. Input costs can vary but typically include credit reports, tax verifications, flood certifications, closed-loan fees, labor costs, commissions, etc. Additionally, each function in mortgage operations is a specific labor component.

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Industrial Mortgages Loans Equity 370

Housing Wire

JUNE 24, 2022

HousingWire reached out to Cherry to hear more about her career trajectory, industry updates and what upcoming projects she’s most excited about. Amanda Cherry : Macro trends continue to point to the need for people 55+ to have access to their home equity. The post Nominations for HW Insiders Close Today!

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Closing Lending Equity Mortgages 384

Housing Wire

JANUARY 22, 2021

Citing anonymous sources, Bloomberg reported that CoStar Group and a private equity group led by Warburg Pincus are currently competing for the data provider, though it is unclear if either have made an offer yet. If CoStar were to close the deal, it would be the largest acquisition the Washington, D.C.-based billion market cap.

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Equity Bankruptcy Investor Commercial 384

Housing Wire

MAY 10, 2022

KPI – Cost to originate a loan: In the manufacturing industry, it’s common to analyze standard costs. Input costs can vary but typically include credit reports, tax verifications, flood certifications, closed-loan fees, labor costs, commissions, etc. Driven by data. To this end, conducting a DuPont Analysis could prove helpful.

Industrial 397

Industrial Mortgages Loans Equity 397

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence. They’re using it to help shape the process going forward.

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Mortgages Closing costs Equity Construction 418

Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”.

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Equity Finance Loans Development 370

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

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Closing costs Development Equity Mortgages 466

Housing Wire

DECEMBER 17, 2021

As we approach 2022, some concerning headwinds confront the mortgage origination industry. This includes focusing on capital/equity to ensure the foundation is strong, covenants are met and operational flexibility is maintained. The post Headwinds confronting the mortgage industry in 2022 appeared first on HousingWire.

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Industrial Mortgages Development Loans 410

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

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Equity Loan Officer Residential Commercial 397

Housing Wire

FEBRUARY 6, 2024

The original promissory notes were secured by tangible assets of [ Finance of America Equity Capital ], excluding pledges of equity interests, and certain pledged risk retention securities held by MM Risk Retention LLC , a wholly owned subsidiary of FOA Equity,” the filing reads. over the prior 30 trading-day period.”

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Equity Finance Industrial Mortgages 421

Housing Wire

SEPTEMBER 2, 2022

The OWNS ETF is still small by industry standards and struggling to grow and improve returns. We can’t close the racial-wealth gap and [expand] homeownership without access.”. The post OWNS ETF taps capital markets to close racial-wealth gap appeared first on HousingWire. per share — with a year-to-date return of -8.44%.

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Closing Marketing Investor Banks 458

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as severe as the one in wholesale.

Mortgages 430

Mortgages Equity Loans Industrial 430

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

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Equity Marketing Loans Bankruptcy 527

Housing Wire

FEBRUARY 16, 2023

“As expected, the overall national mortgage delinquency rate increased in the fourth quarter of 2022 from its previous quarterly survey low,” Marina Walsh, MBA’s vice president of industry analysis, said. Tappable equity — the share of equity that could be withdrawn while still maintaining an 80% or lower loan-to-value ratio — fell by $1.8

Mortgages 421

Mortgages Equity VA loan FHA loan 421

Housing Wire

JUNE 30, 2021

Home values have increased over the past several months and consumers are realizing there is more equity in their homes than anticipated. This realization has increased demand for wholesale lenders and brokers as borrowers look to refinance, cash-out refinance or otherwise take advantage of the equity in their homes.

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Closing Title Lending Inspection 221

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% to 3,237,” according to the commentary accompanying RMI’s March data.

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Mortgages Seller concession Loans Equity 431

Housing Wire

JANUARY 22, 2024

After a year of challenge in the reverse mortgage industry, the major lenders in the industry look a bit different for calendar year 2023 when compared with recent years past. Reduced volume, a challenging mortgage rate environment and industry consolidation has contributed to some of the broader changes.

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Mortgages Finance Industrial Equity 432

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). Meetings will be conducted regularly via conference call. Overall, HELOCS accounted for 20.7%

Equity 368

Equity Lending Finance Loans 368

Housing Wire

MARCH 29, 2024

The Consumer Financial Protection Bureau (CFPB) this week released its 2023 Consumer Response Annual Report , offering an overview of consumer complaints in a variety of industries overseen by the bureau. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%). As of March 1, 2024, less than 0.1%

Mortgages 429

Mortgages VA loan FHA loan Lending 429

Housing Wire

APRIL 24, 2023

Home equity is also the primary source of wealth for most Americans. Despite efforts by some in the housing industry, the minority homeownership gap has barely improved in the last 30 years. Wealth can be used to start a business or educate children. The overall U.S. homeownership rate stood at 65.8% and Hispanics come in at 48.6%.

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Closing New Construction Loans Equity 384

Housing Wire

JANUARY 17, 2024

The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). And after years of advertisements and TV commercials promoting the benefits of better-known reverse mortgage loan uses like continuing to live in your current home while tapping your home equity, 4 who could blame them?

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Finance Seller concession Loan Officer Loans 458