Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 346

Mortgages Seller concession Principal Loans 346

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

Seller concession 523

Seller concession Mortgages Loan Officer Loans 523

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.

Mortgages 321

Mortgages Loan Officer Principal Loans 321

Housing Wire

AUGUST 4, 2022

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. million premium.

Mortgages 328

Mortgages Pre-approval Principal Loans 328

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. According to the brokerage, 6.5%

Mortgages 496

Mortgages Principal Brokerage Finance 496

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 303

Equity Mortgages Banks Commercial 303

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. Aimee Quinn, president of Nations Direct Mortgage, said his experience will be put toward expansion across the U.S. .

Sales 343

Sales Mortgages Principal Equity 343

Housing Wire

MAY 8, 2024

mortgage lender Newrez , owned by asset manager Rithm Capital , is imposing a round of layoffs to its workforce following the acquisitions of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). The layoffs include mortgage professionals such as processors, underwriters and loan officers.

Loan Officer 350

Loan Officer Principal Loans Mortgages 350

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. New Wave filed the lawsuit Monday in the U.S.

Due diligence 354

Due diligence Mortgages Principal Lending 354

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. New Wave filed the lawsuit Monday in the U.S.

Due diligence 352

Due diligence Mortgages Principal Lending 352

Housing Wire

JUNE 4, 2024

According to mortgage tech platform Modex , it originated $3.3 “The Debtor, however, was not immune from the consequences of the Federal Reserve’s policy to curb inflation, which hit the mortgage industry in 2022,” Hometown’s attorneys said in court filings. billion in 2022, compared to $5.5

Bankruptcy 320

Bankruptcy Banks Investor Principal 320

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Mortgages 449

Mortgages Fixed-rate mortgage Loans Loan Officer 449

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 392

Mortgages Seller concession Fixed-rate mortgage Loans 392

Housing Wire

JANUARY 5, 2022

The most wonderful time of the year, as the song would have us believe, comes to a close with Epiphany, the 12 th day of Christmas, Jan. So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. Think technology and service providers, too — a smaller mortgage market affects everyone.

Industrial 441

Industrial Mortgages Principal Technology 441

Housing Wire

JULY 1, 2022

The mortgage-servicing rights (MSR) market continued to defy gravity and remained upward bound as June came to a close. On the last day of the month, the New York-based Mortgage Industry Advisory Corp. (or billion Fannie Mae , Freddie Mac and Ginnie Mae mortgage-servicing portfolio,” the offering documents state.

Closing 301

Closing Marketing Loans Mortgages 301

Housing Wire

APRIL 22, 2021

Mortgage executives have a hard time forgetting 2018. In a bid to gain market share, some of the biggest mortgage originators priced loans aggressively to keep production up and attract loan originators. The post As profit margins shrink, mortgage execs look at LO comp appeared first on HousingWire. told the panelists. .

Mortgages 381

Mortgages Principal Loans Closing 381

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well. trillion portfolio of MBS.

Mortgages 402

Mortgages Banks Loans Industrial 402

Housing Wire

APRIL 7, 2021

While overall complaints were up 54% year-over-year, complaints against mortgage companies were up just 7.5%, and complaints against mortgage servicers were actually down, by 3.5%. These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry.

Mortgages 420

Mortgages Principal Loans Finance 420

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

FHA loan 366

FHA loan Mortgages Loan Officer VA loan 366

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 404

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 404

Housing Wire

OCTOBER 31, 2022

This is projected to be a record year for consolidation among mortgage lenders, largely due to the dramatic shift from a refinance boom to a purchase mortgage market and the total origination volume, which has shrunk to about half the size from 2021. Most recently, Guild Mortgage expressed interest in acquisitions.

Industrial 319

Industrial Mortgages Principal Loans 319

HomeLight

APRIL 25, 2024

Buying a home involves a flurry of paperwork, but perhaps the most important document is the closing disclosure, also known as a CD in real estate. This guide will break down what a CD includes, why it’s so important, and the most common mistakes to watch for so your closing doesn’t get delayed.

Closing 76

Closing Principal Loans Mortgages 76

Housing Wire

MARCH 27, 2024

In a letter submitted to Bell on Monday, the CHLA called on the VA to expedite regulatory change that would allow veterans and active-duty service members to fund buyer-broker commissions when purchasing a home with a VA mortgage. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 441

VA loan Loans Principal Mortgages 441

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 334

Mortgages Marketing Banks Investor 334

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

Loans 376

Loans Purchase and sale agreement Principal Due diligence 376

Housing Wire

APRIL 7, 2022

The offering is comprised of 7,600 mortgages with total unpaid principal balance of $1.49 The offering is part of Fannie’s ongoing efforts to reduce the size of its retained mortgage portfolio, the agency said. million in unpaid principal balance; pool 2 is at $514.5 million; and pool 3, $367.4

Loans 358

Loans Sales Due diligence Principal 358

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns. million in the previous quarter.

Loans 392

Loans Principal Mortgages Closing 392

Housing Wire

NOVEMBER 2, 2022

In light of that, HW Media Managing Editor of Content Solutions Maleesa Smith sat down with Scott Gibson, principal of product compliance at CoreLogic, to discuss the future of the NFIP, as well as potential reforms that could help the industry be more prepared for the next disaster. People are looking for answers,” Gibson said. “We

Industrial 340

Industrial Seller disclosure Mortgages Principal 340

Bigger Pockets

DECEMBER 22, 2023

If you don’t meet the loan terms you agreed to when you closed on your mortgage, you are in mortgage default. The most common way is to miss your monthly principal and interest payments.

Mortgages 116

Mortgages Principal Loans Closing 116

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. Stratmor predicts that by year’s end, nearly 50 M&A transactions involving IMBs will have been announced or closed.

Banks 389

Banks Mortgages Loans Equity 389

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. Other mortgage companies also faced high demand for debt issued this year. In September, Freedom Mortgage raised $1.3 Pennymac’s offering is expected to close on Dec.

Principal 289

Principal Equity Investor Mortgages 289

Housing Wire

SEPTEMBER 9, 2021

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. Why should the mortgage process be any different? For many homebuyers, their confidence diminishes the closer they get to the closing table. if the option was available to them.

Mortgages 382

Mortgages Technology Inspection Closing 382

Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. Texas followed closely with a 34% share of sales, marking an increase of 10 percentage points from the previous year. As a point of comparison, in the benchmark year of 2019, 31,000 new homes were purchased in the top 50 master planned communities.

Sales 419

Sales Principal Staging Construction 419

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago. in 2005, the MBA said.

Fixed-rate mortgage 354

Fixed-rate mortgage Mortgages Loans Loan Officer 354

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 441

VA loan Agents Seller concession FHA loan 441

Housing Wire

MAY 9, 2024

the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs). billion in mortgages in the first quarter, higher than the $24.3 UWM Holdings Corp. , ” UWM originated $27.6

Sales 238

Sales Principal Loans Mortgages 238

Housing Wire

OCTOBER 11, 2023

s $720 million acquisition of Computershare Mortgage Services Inc. The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. mortgage lender in the first half of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data.

Principal 402

Principal Loans Investor Finance 402