Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings.

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Title Industrial Land Closing costs 424

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In

Equity 433

Equity Finance Purchase and sale agreement Investor 433

Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans. of transactions.

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Loans Title Commercial Closing 442

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. Marquis, whose production volume dropped by nearly one-third to $351 million in 2022 from the previous year’s $951 million, is cautiously optimistic about the mortgage industry. How has business been in the Boston market?

Loans 393

Loans Pre-approval Closing Marketing 393

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. And more increases are yet to come.

As-is 450

As-is Industrial Mortgages Loans 450

Housing Wire

NOVEMBER 3, 2020

The mortgage industry is no stranger to disruption since the onset of the COVID-19 pandemic. As the premier provider of software, data and analytics solutions to the mortgage and capital markets industries, Black Knight further strengthened its position as a market leader with the acquisition of Optimal Blue in September 2020.

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Industrial Closing Loans Lending 393

Housing Wire

APRIL 21, 2023

It’s been delayed, but that’s not enough for the mortgage industry. 1, 2023, with the regulator saying the DTI charges wouldn’t affect any loans purchased by Fannie Mae or Freddie Mac in 2023. A borrower’s income and expenses can change several times throughout the loan application and underwriting process.

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Industrial Mortgages Loans Closing 414

Housing Wire

MARCH 25, 2021

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations. Presented by: Proctor Loan Protector.

Industrial 544

Industrial Mortgages FHA loan Finance 544

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

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Loans Closing costs Development Finance 414

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 498

Loans Debt-to-income ratio Lending Banks 498

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

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Loans Purchase and sale agreement Due diligence Industrial 393

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 total number of loans in forbearance in March decreased five basis points from February, dropping to 0.55% from 0.60% of servicers’ portfolio volume.

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Closing Mortgages Loans Staging 414

Housing Wire

OCTOBER 20, 2022

on Wednesday announced that it has released an Attorney Opinion Letter (AOL) product for VA direct and VA-backed home loans as a compliant alternative to title insurance. Voxtur previously announced this year that it had produced an AOL for Fannie Mae loans. The title insurance industry has spoken out forcefully against AOLs.

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VA loan Loans Title Land 393

Housing Wire

JUNE 22, 2023

Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. The deal with Village consists of 45,000 home loans securitized by Ginnie Mae. billion owned mortgage servicing portfolio, according to Inside Mortgage Finance (IMF) estimates.

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Closing Lending Loans Commercial 370

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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Loan Officer Loans Lending Mortgages 450

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Loan Officer Loans Mortgages Industrial 404

Housing Wire

MARCH 16, 2023

The Federal Housing Finance Agency ’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. Though it’s undoubtedly a victory for the industry, it’s a partial one.

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Industrial Mortgages Finance Loans 382

Housing Wire

JUNE 1, 2022

According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. This was up from $9,140 per loan in the third quarter as the market transitioned from a rate-term refinancing market to a purchase and cash-out refinancing market.

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Closing Title Loans Technology 404

Housing Wire

SEPTEMBER 4, 2020

realtor.com named Bob Evans vice president of industry relations, where he will lead the company’s long-standing efforts to engage and support its industry partners. 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.

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Finance Branding Title Lending 441

Housing Wire

JANUARY 12, 2022

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

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Closing Loan Officer Loans Lending 382

Housing Wire

MAY 10, 2024

Holding company Better Home & Finance hired Chad Smith to be the president and chief operating officer of its mortgage business, it announced on Friday. Before joining Better, industry veteran Smith was the CEO of Mission Loans from December 2020 to May 2024. Better stock closed at $0.43

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Loan Officer Loans Industrial Finance 378

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. But not every manufactured home owner owns the land. billion in the second quarter from $53.8 billion in the first quarter.

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Loans Mortgages Land Finance 393

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

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Loans Mortgages Development As-is 414

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.” Identification of a loan under these conditions is currently optional, the bulletin explained.

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Mortgages Finance Closing costs Loans 424

BAM Media

MAY 9, 2024

Real estate transactions can be complex, especially when traditional financing isn’t the best option. This is where creative financing strategies like seller financing and subject to come into play. Seller Financing: The seller acts as the bank, creating a new financing agreement with the buyer. What is Subject To?

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Finance Banks Investor Loans 105

Housing Wire

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

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Loans Purchase and sale agreement Investor Finance 382

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million in unpaid principal balance; pool 2 is at $342.5

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Loans Purchase and sale agreement Principal Due diligence 382

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.

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Closing Lending Banks Equity 477

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

Loans 457

Loans Technology Mortgages Finance 457

Housing Wire

MARCH 28, 2024

The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications. Yet help might be on the way.

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Title Finance Loans Lending 442

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. The originators who are weathering the industry headwinds told HousingWire that a significant decline in mortgage rates is no longer expected.

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Loan Officer Loans Mortgages Agents 414

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

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Industrial Banks Loans Design 382

Housing Wire

OCTOBER 31, 2022

By the end of 2022, roughly 50 merger or acquisition (M&A) transactions will be announced or closed, which is 50% more than 2018 — the record year for lender consolidation, according to Stratmor Group. The expectation of continued margin compression in 2023 and 2024 has resulted in the onset of industry consolidation,” Hrobon said.

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Industrial Mortgages Principal Loans 382

Housing Wire

JANUARY 3, 2023

Lowrie was most recently the president and CEO of Dytrix , a fintech company that enables secure financial transactions that includes closing agent management and real-time wire/ACH transfer validation for institutions. When Gateway Funding was sold in 2006, the firm had grown to 800 employees with 57 branches and had a loan production of $3.5

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Industrial Mortgages Banks Residential 450

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

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Industrial MLS FHA loan Agents 414

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. Maybe you’re on a mortgage loan shopping site.

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Closing Mortgages Industrial Loan Officer 424

Housing Wire

FEBRUARY 27, 2024

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. Last year, Floify commissioned an independent study of 150 high-performing loan originators (LOs) to gain recruiting and retention insights. You can learn a lot about any industry by asking its top earners what energizes them toward peak performance.

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Finance Technology Loans Industrial 414