Housing Wire

AUGUST 4, 2022

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout. Spreads on both agency and non agency mortgages increased to new highs in a matter of weeks,” Johan Gericke, CFO of Finance of America, told analysts. on Thursday, down 1.5%

Finance 397

Finance Commercial Mortgages Closing 397

Housing Wire

DECEMBER 27, 2023

The systems outage has derailed closings across the country over the holidays for homebuyers and sellers using the company’s title services in more than 2,000 locations. One buyer commented: “We wired in full payment for a home that was supposed to close last week. 20 cybersecurity incident.

Closing 496

Closing Title Technology Mortgages 496

Housing Wire

AUGUST 23, 2023

New York-based digital lender Better.com announced Wednesday the closing of its business combination with the special purpose acquisition company (SPAC) Aurora Acquisition Corp , , ending a two-year journey to make the business public. Meanwhile, Harit Talwar will be the chairman of the board of directors at Better Home & Finance.

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Closing Pre-approval Finance Title 369

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs. Those borrowers are eligible to receive an additional 0.5%

Closing costs 397

Closing costs Closing Agents Mortgages 397

Housing Wire

JANUARY 11, 2022

Unlike other HousingWire awards, Finance Leaders focuses specifically on corporate finance, secondary marketing, capital markets or strategic finance executives within mortgage banking or a real estate brokerage only. The post Nominations for HousingWire’s Finance Leaders award are now open!

Finance 375

Finance Residential Title Mortgages 375

Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . Meanwhile, for the specialty finance and services, the company forecasts $195 million to $215 million in revenues and a 12%-14% margin. It began trading at $10 a share.

Finance 369

Finance Commercial Mortgages Investor 369

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 361

Finance Equity Mortgages Principal 361

Housing Wire

MAY 30, 2023

The decision is part of UBS’s strategy to focus more on financing mortgage originators , the outlet said, citing an anonymous source discussing non-public information who asked not to be identified. “We The mortgage-trading decision comes on the heels of UBS working to integrate the operations of Credit Suisse Group AG.

Closing 382

Closing Mortgages Banks Lending 382

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 370

Finance Lending Mortgages Renovation 370

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The new product, called EquityAvail, funds at closing and requires that the borrower make payments for 10 years but at a reduced amount, Finance of America Reverse said this week.

Finance 397

Finance Mortgages Loans Staging 397

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . year-over-year, according to Inside Mortgage Finance. The company ranked no. 33 among the top U.S.

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Closing Finance Commercial Mortgages 432

Housing Wire

APRIL 17, 2023

As the COVID-19 national emergency draws to a close, the forbearance rate has decreased month over month, according to a report from the Mortgage Bankers Association (MBA) on Monday. The forbearance share for portfolio loans and private-label securities (PLS) also dropped 10 basis points to 0.68%.

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Closing Mortgages Loans Staging 399

Housing Wire

MARCH 23, 2022

As the housing market continues to move from last year’s refinance boom, lenders’ ability to identify customers and maintain consumer relationships has become more important than ever in not only securing loans but also ensuring they make it to close. Homebuyers often search for financing online before engaging a Realtor.

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Finance Loan Officer Loans Lending 303

Housing Wire

SEPTEMBER 4, 2020

Wheeler has worked closely with the executive team at Opendoor over the last year, helping them refine their financial model and navigate the onset of COVID-19. The post People movers: realtor.com, Opendoor, Finance of America and FormFree appeared first on HousingWire.

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Finance Branding Title Lending 426

Housing Wire

NOVEMBER 22, 2023

Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Price cuts are not the only way builders are fighting for sales.

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Closing Closing costs Sales Mortgages 452

Housing Wire

JANUARY 12, 2022

The email explained that the last day to register a loan is January 12, while the last day for closing a transaction is February 28. increase compared to 2020, according to Inside Mortgage Finance. The post Guaranteed Rate closes Stearns wholesale channel appeared first on HousingWire.

Closing 384

Closing Loan Officer Loans Lending 384

Housing Wire

APRIL 30, 2024

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. FHFA explained some of the actions it has taken to address housing inequality.

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Lending Finance Closing costs Closing 388

Housing Wire

JUNE 1, 2022

One avenue to reduce cost and streamline the closing process is to offer digital closings. Lenders and title agents also reported they can close more loans faster with the same or fewer people, and improve overall loan quality by reducing critical errors, avoiding missed signatures and unnecessary rework.

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Closing Title Loans Technology 404

Housing Wire

JUNE 22, 2023

billion owned mortgage servicing portfolio, according to Inside Mortgage Finance (IMF) estimates. In May, Planet closed a $150 million increase to its conventional MSR facility because, “Naturally, companies need bigger lines as they grow,” Dubeck said. The volume in Q1 2023 was 68.3%

Closing 341

Closing Lending Loans Commercial 341

Housing Wire

DECEMBER 9, 2020

“They are nearly impossible to finance, thus not worth my team’s time currently. Get $75 off your initial membership with coupon code “intro75” The post Why 28% of mortgage applicants never close the loan appeared first on HousingWire. We can’t be chasing rabbits all over the park right now.

Loans 508

Loans Closing Loan Officer Mortgages 508

Housing Wire

APRIL 4, 2022

million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. The post Redfin closes $138M deal for mortgage lender appeared first on HousingWire.

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Closing Mortgages Loan Officer Pre-approval 370

Housing Wire

JUNE 24, 2022

Honorees like 2021 HW Insider Amanda Cherry , associate product manager at Finance of America Reverse , represent an exceptional class of housing professionals who continuously drive their team to achieve excellence in a number of different facets of housing. The post Nominations for HW Insiders Close Today!

Closing 364

Closing Lending Equity Mortgages 364

Housing Wire

FEBRUARY 19, 2021

Title insurance upstart States Title announced this week $150 million in debt financing from HSCM Bermuda , which will go towards developing a more modern home closing experience. The debt financing will go towards product development, investment in go-to-market growth, and the refinance of debt to Lennar Corp.,

Title 247

Title Closing Finance Technology 247

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. From January to September, Wells Fargo originated $37 billion in the space, down 27% compared to the same period in 2021, according to Inside Mortgage Finance data.

Closing 485

Closing Lending Banks Equity 485

Broke Agent Media

JANUARY 31, 2023

Fannie Mae multifamily financing provided over $69 billion in 2022 to expand nationwide access to affordable housing. .: $6.2 billion in 2021 Green Financing : $9.1 First Name Email Subscribe The post Fannie Mae Multifamily Financing Closed $69 Billion in 2022 first appeared on BAM. billion Newmark: $4.6

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Finance Closing Equity Commercial 98

Housing Wire

MAY 17, 2023

“A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost. The big thing is the carrying cost that a lot of [smaller] investors don’t realize. “If

Finance 368

Finance Marketing Lending Investor 368

Housing Wire

JANUARY 31, 2023

So that’s a real issue, because as a lender, we offer ways to finance a new home for selling — and it could be a bridge loan, it could be a home equity line of credit. Are you the sole person closing sales? Because really, ultimately, they want to be able to close more business, and you have to be an ally in that process.

Loans 370

Loans Pre-approval Closing Marketing 370

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads.

Closing 424

Closing Mortgages Industrial Loan Officer 424

Housing Wire

APRIL 21, 2021

“In 2021, the potential for margin compression could serve as yet another accelerant towards digital mortgage closings as lenders seek to improve capital efficiency and offer a more competitive experience to borrowers.”. Martin: COVID catalyzed digital mortgage closings by creating a renewed sense of urgency.

Closing 346

Closing Mortgages Development Industrial 346

Housing Wire

FEBRUARY 5, 2021

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. Modern construction finance requires new infrastructure altogether. and Canada. “The

Technology 261

Technology Closing Construction Commercial 261

Housing Wire

SEPTEMBER 15, 2020

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Electronic closings supported by remote online notarization (RON) offer advantages to notaries, borrowers and lenders.

Closing 485

Closing Loans Banks Investor 485

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value.

Agents 530

Agents Seller concession VA loan Finance 530

HomeLight

MARCH 28, 2024

When a home sale closing is delayed, it’s usually the buyer holding up the deal due to financing hiccups, low appraisals, title issues, or problems found during the final walkthrough. But what happens if a seller misses the closing date? The closing date is always in the contract. What happens on a home sale closing date?

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Closing Purchase and sale agreement Title Closing costs 102

Housing Wire

NOVEMBER 9, 2020

One area in the mortgage and real estate industry that has been evolving for nearly two decades is digital closings. Much like efforts to achieve full self-driving vehicles, the road to achieve full digital closings has been bumpy. E-mortgage volume spikes. History of ‘e’. Treasury recommends standardization.

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Closing Title Technology Land 441

Housing Wire

FEBRUARY 16, 2024

Finance of America Companies (FOA), parent company of reverse mortgage industry-leading lender Finance of America Reverse (FAR), was notified for the second time on Feb. ” If the average closing price of a security is less than $1.00 per share according to Google Finance. over a consecutive 30 trading-day period.”

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Finance Closing Industrial Mortgages 374

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.” Intergenerational wealth refers to the financial assets passed by one generation of a family to another.

Mortgages 415

Mortgages Finance Closing costs Loans 415

Housing Wire

NOVEMBER 3, 2020

The post Speed up the closing process with industry-leading solutions appeared first on HousingWire. Sophisticated pooling capabilities can automatically solve for optimal combinations and considerations, allowing users to send multiple auto-commit requests simultaneously.

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Industrial Closing Loans Lending 391