Housing Wire

APRIL 13, 2023

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU). On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022.

Finance 359

Finance Homeowner’s association Construction Loans 359

Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200.

Mortgages 451

Mortgages FHA loan Loan Officer Construction 451

Housing Wire

FEBRUARY 28, 2024

It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S. Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs.

Construction 352

Construction Equity Mortgages Finance 352

Housing Wire

NOVEMBER 29, 2023

Homebuilders are also pacing the number of homes they bring to market. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022.

Construction 358

Construction Sales Finance Land 358

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgages 336

Mortgages Marketing Lending Construction 336

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept.

Mortgages 395

Mortgages Fixed-rate mortgage Marketing MLS 395

Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% To boost sales, builders have been offering different concessions such as upgrades or buying down mortgage rates. “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said.

Construction 403

Construction Development MLS Mortgages 403

Housing Wire

SEPTEMBER 27, 2023

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 Fueling this increase is new construction, according to Divounguy, even though the 1.3%

Marketing 497

Marketing New Construction Finance Construction 497

Housing Wire

APRIL 5, 2024

Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest. Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement.

Pre-approval 369

Pre-approval Marketing New Construction Construction 369

Housing Wire

OCTOBER 5, 2021

Finance of America Mortgage (FAM), the multichannel lender, announced today that it is offering a refi product for homeowners with accessory dwelling units (ADUs). Most homeowners finance ADUs through home equity loans, cash-out refinancings and construction/renovation loans.

Finance 352

Finance Construction Loans Renovation 352

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “There is too much distraction in the market; there are some negative folks out there.

Mortgages 462

Mortgages VA loan Finance Loans 462

Housing Wire

SEPTEMBER 5, 2023

Single-family home building slowed across the country during the second quarter of 2023, thanks to higher mortgage rates , and labor and supply shortages , according to the National Association of Home Builder’s (NAHB) Home Building Geography Index. The HBGI is a quarterly measurement of building conditions across the county. in Q2 2023.

Construction 336

Construction Mortgages Development Marketing 336

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

Fixed-rate mortgage 451

Fixed-rate mortgage Mortgages Construction Loans 451

Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release. But some experts believe that financing options for ADUs need to be expanded.

Construction 362

Construction Finance Design Technology 362

Housing Wire

MARCH 26, 2024

Last year might best be described as a risk-prone atmosphere for the single-family rental sector and the related fix-and-flip market. We didn’t call it a bear market, but we did call it a lack of liquidity, which I think is more accurate,” said L.D. In 2023, the landscape for home flipping across the U.S.

Investor 422

Investor Marketing Construction Loans 422

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 389

Mortgages Loan Officer Loans Closing 389

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). in events to garner business. were from the Northeast 16.3%

Mortgages 365

Mortgages Marketing Banks New Construction 365

Housing Wire

NOVEMBER 17, 2023

When market players say housing leads us into a recession, it traditionally means the Federal Reserve raised rates too much, housing slowed down as a result and a job-loss recession isn’t too far off. How did this happen when mortgage rates rose from the lows earlier in the year? But a funny thing happened this year for the U.S.

Marketing 435

Marketing Construction Mortgages As-is 435

Housing Wire

APRIL 8, 2024

The lack of affordable housing in the United States is well-documented in the nation’s urban markets, where it is contributing to the swelling ranks of the homeless. That same dire need for affordable housing for the least prosperous among us, however, also is a serious problem in rural America — home to nearly 70 million Americans.

New Construction 463

New Construction Finance Construction Mortgages 463

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. The lender also brought over 45 former retail branches from Finance of America Companies Inc. FoA) months after it shut down its forward mortgage segment.

Mortgages 329

Mortgages Lending Finance Loans 329

Housing Wire

SEPTEMBER 29, 2023

Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. It’s no longer about just outlasting a bad market for a couple of months. “I There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 401

Loan Officer Mortgages Fixed-rate mortgage Loans 401

Housing Wire

JANUARY 2, 2024

When will the mortgage industry know it has reached the tipping point where innovation is no longer a competitive advantage but an existential need? Any one of these indicators points to a housing finance industry ripe for innovation. housing and economic policy in ways that aren’t always beneficial.

Mortgages 345

Mortgages Finance Lending Industrial 345

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. Where are mortgage rates headed? in second-quarter 2024.

As-is 419

As-is Industrial Mortgages Loans 419

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets. billion in mortgage loans from January to March, with $6.3 The lender originated $6.5

Mortgages 390

Mortgages Lending Loan Officer Loans 390

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. The ESR group expects the annualized pace of existing home sales to move up to 4.5 million in Q4 2023.

Mortgages 540

Mortgages Fixed-rate mortgage Sales Equity 540

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week.

Fixed-rate mortgage 527

Fixed-rate mortgage Mortgages New Construction Construction 527

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 435

Mortgages New Construction Construction Sales 435

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Loans 355

Loans Mortgages Loan Officer Pre-approval 355

Housing Wire

MARCH 1, 2024

Last year was a tough one for the Indiana real estate market. In mid-June 2023, the statewide 90-day average Altos Market Action Index score hit a high for year of 53.99, before sliding down to a trough of 40.03 Altos considers anything above a reading of 30 to be a seller’s market. in mid-January 2024. as of February 29, 2024.

Marketing 390

Marketing New Construction Construction Agents 390

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. The same year, the bank completed a deal to finance an ultra-luxury condo project in Sunny Isles Beach, Florida, with a $558 million construction loan. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

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% We do not see new construction returning in a meaningful way any time soon. Will Savage, an LO at PMC Mortgage.

Mortgages 397

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 397

Housing Wire

SEPTEMBER 21, 2023

Mortgage rates remained well above 7% on Thursday as markets digested Wednesday’s Fed meeting. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.19% as of Sept. 21, up one basis point from last week ’s 7.18%.

Mortgages 386

Mortgages Fixed-rate mortgage Loans Construction 386

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgages 350

Mortgages Loans Residential Equity 350

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Banks 377

Banks Mortgages Lending Commercial 377

Housing Wire

MARCH 12, 2024

The housing priorities outlined by the White House and President Joe Biden last week before and during the State of the Union address are crucial for alleviating a serious burden facing many Americans, and the plan emphasizes actions that can be taken to impact the current housing market. The mortgage relief credit would help more than 3.5

Construction 329

Construction Title Finance Land 329

Housing Wire

APRIL 23, 2024

“This rule strengthens standards by increasing elevations and flood proofing requirements of properties in areas at risk of flooding, where federal funds are used to develop or provide financing for new construction within the now defined FFRMS floodplain,” HUD explained. “It

New Construction 330

New Construction Construction Finance Principal 330

Housing Wire

JANUARY 9, 2023

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. Still, even the single-family rental (SFR) market, including the BFR sector, faces an uncertain future in the year ahead, given the ongoing volatility in interest rates and inflation.

Marketing 544

Marketing Construction Development Investor 544