Housing Wire

FEBRUARY 10, 2023

The deal also includes the operations for affiliated company Rushmore Loan Management Services, LLC. Mr. Cooper expects the deal to close mid-year following regulatory approval, but the plan is to go to market in the second half of 2023. residential markets over the last decade. the company confirmed on Friday.

Closing 369

Closing Investor Residential Loans 369

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. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

Loan Officer 393

Loan Officer Loans Mortgages Agents 393

Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.

Closing 316

Closing Mortgages Lending Technology 316

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 376

Loans Debt-to-income ratio Banks Mortgages 376

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

Lending 369

Lending Loans Equity Mortgages 369

Housing Wire

JUNE 30, 2021

Data analytics giant CoreLogic announced on Wednesday the acquisition of closing cost data and tech provider ClosingCorp. Previously, ClosingCorp integrated CoreLogic’s Property Tax Estimator into its SmartFees service and closing platforms in 2018. Further details of the acquisition were not disclosed.

Closing 364

Closing Closing costs Investor Title 364

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 368

Loans FHA loan Principal Marketing 368

Housing Wire

NOVEMBER 25, 2020

Residential due diligence is an area of the mortgage ecosystem that’s overdue for disruption, according to two industry veterans who want to offer something completely different in the due diligence space through their newly launched company, Canopy. What was done [with the loan] goes on the blockchain and it’s based on verifiable data.

Due diligence 467

Due diligence Residential Industrial Investor 467

Housing Wire

DECEMBER 16, 2021

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

Due diligence 355

Due diligence Loans Investor Mortgages 355

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 340

Loans Equity Lending Mortgages 340

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

Loans 297

Loans Marketing Due diligence Residential 297

Housing Wire

JUNE 11, 2021

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Should the appraisal come in lower than the contract price, the closing process may be impacted.

Inspection 420

Inspection Closing Closing costs Title search 420

Marco Santarelli

FEBRUARY 8, 2024

Commercial Real Estate, Residential Real Estate, and Corporate Credit Commercial Real Estate and Residential Real Estate are identified as key vulnerabilities due to potential strains arising from maturing loans, expiring leases, and weakened demand for office space. Financial Risks: Unveiling Vulnerabilities 3.1

Residential 104

Residential Commercial Lending Loans 104

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement. “We

Mortgages 347

Mortgages Lending Banks Commercial 347

Housing Wire

APRIL 18, 2024

N early 58% of this total was conventional loans and 55% was purchase loans. As of Thursday, the bank had 155 sponsored loan officers, according to the Nationwide Multistate Licensing System (NMLS). Last year, the community bank originated about $435 million in mortgage volume, per mortgage data platform Modex.

Banks 388

Banks Mortgages Loan Officer Loans 388

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. As of Tuesday, Academy had 839 loan officers who will add to another 2,247 at Guild, per the Nationwide Multistate Licensing System (NMLS).

Mortgages 420

Mortgages Loan Officer Loans Finance 420

Housing Wire

AUGUST 25, 2023

AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. The lender also maintained its servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. In 2022, AmeriFirst closed $2.5

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

FEBRUARY 7, 2023

Digital closing platform Snapdocs announced on Tuesday that it has completed its integration with Mortgage Cadence, a cloud-based digital lending platform. This integration will enable lenders to finalize closing documents using Snapdocs within Mortgage Cadence’s loan origination system (LOS).

Mortgages 335

Mortgages Lending Loans Technology 335

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% Mortgage applications decreased 9.4% compared to 0.4%

Mortgages 351

Mortgages VA loan FHA loan Loans 351

Housing Wire

MARCH 21, 2024

I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.” Planet Home Lending is an originator, correspondent lender, servicer and subservicer of agency and nonagency residential and commercial mortgages.

Lending 342

Lending Sales Commercial Loans 342

Housing Wire

SEPTEMBER 24, 2022

Caliber Home Loans , owned by publicly-traded Rithm Capital , issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. At least 38 closer/funder positions were eliminated, five closing managers and 35 underwriters. We are in a tough market.”.

Loan Officer 401

Loan Officer Loans Residential Mortgages 401

Housing Wire

SEPTEMBER 1, 2023

Founded in 1996, Pennsylvania-based Spring EQ offers home equity, HELOCs, refis and purchase loans. The company has 76 active loan officers in four branches, according to Modex. The deal is subject to customary closing conditions and regulatory approvals.

Equity 367

Equity Loan Officer Residential Commercial 367

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. NYCB became a large residential mortgage servicer after the acquisition of Flagstar.

Equity 315

Equity Mortgages Banks Commercial 315

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. The acquisition will bring a majority of DKMC’s loan originators as well as operations and support staff to NAF and enables NAF to fill existing open roles in various departments with experienced personnel from DKMC,” NAF stated in a news release.

Loan Officer 383

Loan Officer Loans Lending Mortgages 383

Housing Wire

FEBRUARY 14, 2024

With the acquisition of Academy, Guild will be onboarding nearly 200 branches and 1,000 new employees, about 600 of which are loan officers. Final decisions on these employees are still being worked out based on the needs to wind down the current pipelines and close out the Academy business, she said.

Mortgages 403

Mortgages Loan Officer Loans Closing 403

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs).

Equity 370

Equity Marketing Fixed-rate mortgage Finance 370

Housing Wire

JUNE 22, 2023

Bowlby noted that AmeriFirst never closed business. The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. Because now what they have to do is they have to go in and charge points to get their loans done,” he said. In 2022, AmeriFirst closed $2.5

Loan Officer 342

Loan Officer Mortgages Loans Lending 342

Housing Wire

JULY 18, 2023

The current jobs cut also comes amid rumors that depositary lenders would see changes to their residential mortgage capital requirements under the Basel III regulations. “At U.S. Under the latest draft proposal, risk weights of 40% to 90% would be assigned for large banks, depending on the loan-to-value ratio.

Banks 370

Banks Mortgages Residential Lending 370

Calculated Risk Real Estate

JUNE 7, 2024

In the first quarter of 2024, the total number of mortgaged residential properties with negative equity decreased by 2.1% However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. trillion since the first quarter of 2023, a gain of 9.6% year over year.

Closing 58

Closing Equity Short sale Banks 58

Housing Wire

JANUARY 31, 2023

First Internet Bancorp , parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for sale in the secondary market. The residential mortgage loan balance for First Internet was $383.9

Banks 396

Banks Mortgages Lending Commercial 396

Housing Wire

FEBRUARY 21, 2023

The deal will offload an FoA subsidiary division that offers residential real estate investment loans. The terms of the deal do not include the FOA commercial vertical’s financial assets, which are comprised of loans and securitizations, according to the 8K filing.

Commercial 321

Commercial Lending Finance Title 321

Housing Wire

FEBRUARY 13, 2024

Setting up systems to handle these complexities takes significant time and effort, but once completed, provide a tailored loan program for a borrower. HousingWire: What are the unique complexities of non-QM lending as compared to QM loans? Many customers may think that the processing of the loan will be similar to a conventional loan.

Lending 302

Lending Loans Technology Development 302

Housing Wire

JANUARY 9, 2024

The popularity of home equity lines of credit (HELOCs) and closed-end second (CES) mortgages last year was reflected in the secondary market as well, where the volume of securitizations rose sevenfold from 2022 levels. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 433

Equity Lending Banks Loans 433

Housing Wire

MAY 24, 2023

Some indexes show the 30-year fixed rate has reached the 7% mark, which has reduced borrowers’ appetite for home loans. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% retail residential mortgage applications. for the week ending May 19 compared to one week earlier.

Mortgages 380

Mortgages Loans Residential Construction 380

Housing Wire

APRIL 13, 2023

The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023. The BNC platform is expected to transition to the First Federal branch within a few months of closing. NMLS showed the bank has 63 registered loan officers. Terms of the transaction were not disclosed.

Banks 365

Banks Mortgages Loan Officer Residential 365

Housing Wire

FEBRUARY 8, 2022

Powerhouse lender and servicer New Residential Investment Corp. has reduced hundreds of job positions in its mortgage division, less than a year after acquiring the multichannel lender Caliber Home Loans. News of the layoffs comes just weeks after Sanjiv Das stepped down as CEO of Caliber Home Loans.

Residential 360

Residential Loans Equity Mortgages 360

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. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 431

Finance Seller concession Loan Officer Loans 431