Housing Wire

OCTOBER 15, 2024

The deal includes Home Equity Conversion Mortgages (HECMs) and mortgage servicing rights (MSRs) with an estimated $3 billion in unpaid principal balance (UPB). The deal is expected to close in the fourth quarter of 2024, subject to certain conditions, including approvals from Ginnie Mae.

Principal 419

Principal Equity Mortgages Investor 419

Housing Wire

APRIL 4, 2025

The Peak variation also updated seasoning requirements for Platinum-to-Platinum or proprietary-to-Platinum to 24 months, from one closing date to the next. The new variation will also allow Longbridge partners to reengage with borrowers who may have previously been short to close.

Mortgages 268

Mortgages Principal Loans Equity 268

Housing Wire

JUNE 18, 2024

Real estate investment trust Redwood Trust is expected to close on Monday on the offering of $85 million in debt, following on the heels of other companies in this space. million in aggregate principal amount available for 30 days to cover over-allotments. The offering can be increased by $12.75

Closing 403

Closing Principal Lending Equity 403

Housing Wire

OCTOBER 24, 2024

Two days later, Onity announced final details of the transaction that included a price revision to $500 million and an aggregate principal amount of senior notes at 9.875% due in 2029. The price to investors will be 99.556% of the principal amount of the notes.

Principal 408

Principal Investor Mortgages Equity 408

Housing Wire

APRIL 9, 2025

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) related to the Home Equity Conversion Mortgage ( HECM ) program, there are four open recommendations according to a review by HousingWire ‘s Reverse Mortgage Daily (RMD). On an online database tracking a series of issues the U.S.

Mortgages 324

Mortgages Principal Loans Equity 324

Housing Wire

JULY 22, 2024

San Francisco -based private lender Kiavi announced Monday that it has closed another multimillion-dollar securitization of residential transition loans (RTLs), bringing its six-month volume of issuances to nearly $1 billion. “This securitization furthers our capital advantage, bringing our half-year issuance to nearly $1 billion.

Loans 422

Loans Closing Investor Principal 422

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

Equity 441

Equity Purchase and sale agreement Loans Mortgages 441

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.

Closing 479

Closing Principal Lending Loans 479

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Besides closing subservicing deals, Rocket has been actively acquiring servicing assets at higher coupon rates to create refinance and home equity origination opportunities. billion in market value as of June 30.

Closing 404

Closing Principal Loans Finance 404

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 440

Equity Finance Purchase and sale agreement Investor 440

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. EST, up 18% compared to the previous closing. on Wednesday around 3 p.m.

Equity 394

Equity Mortgages Banks Commercial 394

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 310

Equity Principal Mortgages As-is 310

Housing Wire

APRIL 28, 2025

billion in unpaid principal balance (UPB), up 2% from the end of 2024 and 10% higher compared to March 2024. We’ve also been seeing ramp production and closed-end seconds , home equity loans, and we think that’s a great untapped opportunity for the channel.” “[PennyMac] is well-rounded.

Marketing 361

Marketing Principal Loans Mortgages 361

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This has caused HECM principal limits to drop for new applications.

Principal 428

Principal Mortgages Loans Equity 428

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. SecureEquity allows us to serve our clients beginning to end; from origination to servicing, ensuring a seamless experience.

Mortgages 237

Mortgages Principal Equity Loans 237

Housing Wire

OCTOBER 31, 2024

He became principal EVP in 2023 before being named acting president upon McCargo’s resignation. Alanna and I worked very closely together and shared a common vision,” he said. “We He first joined Ginnie Mae in March 2022 as executive vice president and chief operating officer. We were true partners.

Principal 416

Principal Finance Mortgages Industrial 416

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

Marketing 526

Marketing Equity Bankruptcy Loans 526

Housing Wire

JULY 30, 2024

Once the transaction is closed, which is expected on Aug. The deal is expected to close in the fourth quarter of 2024. ” According to the agency, Mr. Cooper’s leverage — calculated as debt to tangible equity — was 2.1 that is payable semiannually. The senior notes are due on Aug. million customers, to Mr. Cooper.

Principal 458

Principal Banks Investor Mortgages 458

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year.

Equity 370

Equity Loans Residential Banks 370

Housing Wire

JULY 9, 2024

Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance. Otherwise, the servicer could close the reverse mortgage, which would also close the LOC. ’ Yes.

Mortgages 402

Mortgages Equity Principal Loans 402

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 425

Sales Mortgages Principal Equity 425

Housing Wire

MAY 10, 2023

Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return on equity with an estimated 10% increase to operating earnings in the first year. Mr Cooper also estimates a tangible book value increase of about $1 per share at closing. Mr. Cooper had 4.1

Principal 397

Principal Equity Loans Mortgages 397

Housing Wire

JUNE 3, 2022

The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports. Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. Our intent is that, on close, we use the proceeds to further reduce corporate debt by an anticipated amount of $40 million.“ The company intends to issue $51.7 An inquiry to Waterfall was not immediately returned. “We

Mortgages 404

Mortgages Equity Principal Finance 404

Housing Wire

DECEMBER 7, 2023

According to the company , the offering size was increased from the previously announced $650 million aggregate principal amount of notes. Pennymac’s offering is expected to close on Dec. 11, subject to customary closing conditions. Pennymac’s offering is expected to close on Dec. A total of $1.8

Principal 372

Principal Equity Investor Mortgages 372

Housing Wire

SEPTEMBER 3, 2024

Leaning on education Shannon Robinson Shannon Robinson, senior vice president of the reverse mortgage division at New American Funding (NAF), said the company remains committed to the prospect of borrower education regarding its full range of home equity products. This would go doubly in a more favorable rate environment.

Mortgages 441

Mortgages Equity Finance Lending 441

Housing Wire

JULY 29, 2024

Additionally, lump sum advances are available at loan closing, and up to $10,000 is available for payment of prior mortgages, liens and pledges or for accessibility improvements and other home repairs.” The borrower receives a monthly payment.

Mortgages 420

Mortgages Principal Loans Industrial 420

Housing Wire

DECEMBER 11, 2023

It’s too early to tell December figures but we closed about 5% more transactions last month compared to November 2022. We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There is a lot more inquiry for home equity line credit.

Mortgages 458

Mortgages Fixed-rate mortgage Equity Loans 458

Housing Wire

JULY 25, 2024

But as a longtime industry professional who recognizes the potential value of the Home Equity Conversion Mortgage Program (HECM), Cullen previously explained to HousingWire ’s Reverse Mortgage Daily (RMD) that he made the transition from industry professional to customer. ” It’s tough. I think our friends at HUD [the U.S.

Mortgages 396

Mortgages Principal Development Industrial 396

Housing Wire

AUGUST 1, 2024

Leaders at the Detroit-based Rocket Companies say they will continue to invest in artificial intelligence (AI) to gain operational efficiency and grow their servicing portfolio, creating opportunities for refinances and home equity loans down the road. They will also keep chasing purchase market share. “We’re Rocket serviced 2.6

Marketing 412

Marketing Equity Loans Principal 412

Housing Wire

JULY 28, 2023

Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. The mortgage transaction is expected to close by late 2023 or early 2024 when the merger is scheduled to be completed, Reuters reported.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

SEPTEMBER 16, 2022

Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest. In August and September, Rocket Mortgage and Rocket Pro TPO announced the offering of home equity loans to capitalize on record home equity levels.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

Housing Wire

FEBRUARY 3, 2022

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. Another private-equity player in the MSR space is St.

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

MARCH 10, 2022

The offering, via a conduit called Lakeview Trust 2022-EBO1, is a rare transaction involving mostly delinquent mortgages, according to Kroll Bond Rating Agency ’s (KBRA’s) report on the offering, which is slated to close March 15. The benefit of this a [the lender] immediately stops advancing the principal and interest each month. “If

Mortgages 373

Mortgages Principal Loans FHA loan 373

Housing Wire

JULY 15, 2021

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. The company is currently licensed in 36 states and Washington D.C.,

Principal 384

Principal Loans Equity Mortgages 384

Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 414

Mortgages Marketing Equity Finance 414

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 458

Finance Seller concession Loan Officer Loans 458