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 388

Mortgages Lending Finance Loans 388

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. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 464

Mortgages VA loan Finance Loans 464

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 413

Mortgages Loan Officer Loans Closing 413

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

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 448

As-is Industrial Mortgages Loans 448

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. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers.

Loan Officer 404

Loan Officer Mortgages Fixed-rate mortgage Loans 404

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, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgages 368

Mortgages Marketing Lending Construction 368

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. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 393

Mortgages Lending Loan Officer Loans 393

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 441

Mortgages New Construction Construction Sales 441

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

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 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Fixed-rate mortgage 527

Fixed-rate mortgage Mortgages New Construction Construction 527

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 411

Banks Mortgages Lending Commercial 411

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 377

Lending New Construction Construction Finance 377

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. Other indices showed different mortgage rates this week.

Mortgages 421

Mortgages Fixed-rate mortgage Loans Construction 421

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 380

Mortgages Loans Residential Equity 380

Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Industrial 309

Industrial Mortgages Construction MLS 309

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. “The Will Savage, an LO at PMC Mortgage.

Mortgages 414

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 414

Housing Wire

OCTOBER 31, 2022

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Waggoner’s professional career spans 18 years in the mortgage industry. The key to growing in a challenging mortgage market. Her role will focus on technology to drive the company’s growth. Presented by: Polly.

Mortgages 368

Mortgages Loan Officer Loans Technology 368

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. 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 6.81% as of July 27, up from last week ’s 6.78%.

Fixed-rate mortgage 356

Fixed-rate mortgage Mortgages Loans New Construction 356

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. 7, down from last week ’s 7.18%.

Mortgages 436

Mortgages Fixed-rate mortgage Marketing MLS 436

Housing Wire

MAY 30, 2023

New construction could be the beacon of light the housing market desperately needs right now, as home builders are gaining confidence amongst rising sales, hopefully soon to translate to more residential construction breaking ground in the coming months.” Relatedly, the Federal Housing Finance Agency (FHFA) recorded a 4.3%

Mortgages 403

Mortgages Fixed-rate mortgage Construction New Construction 403

Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing. Already a member?

Loans 424

Loans FHA loan Mortgages Construction 424

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Lending 403

Lending Loans Renovation Mortgages 403

Realty Biz

FEBRUARY 24, 2024

While many veterans are familiar with traditional VA home loans, there are additional options that cater to specific needs – VA Jumbo Loans and VA Construction Loans. Insights into VA Home Loans: Before we dive into the specifics of VA Jumbo Loans and VA Construction Loans, let's recap the fundamentals of VA home loans.

Loans 103

Loans Construction VA loan Finance 103

Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications.

Title 435

Title Finance Loans Lending 435

Housing Wire

JUNE 22, 2023

relaunched its forward mortgage originations. It ceased that business in December 2022 after rising mortgage rates wreaked havoc on the housing industry. Of the 400 employees scooped up by American Pacific Mortgage (APM) late last year, about 20 LOs have returned to AmeriFirst Financial. In 2022, AmeriFirst closed $2.5

Loan Officer 362

Loan Officer Mortgages Loans Lending 362

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 432

Loans Investor Banks Finance 432

Housing Wire

DECEMBER 1, 2021

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. United States District Judge Robin Cauthron ordered McCord also serve 8.5

Mortgages 542

Mortgages Lending Banks Loans 542

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. 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.” increase.

Lending 377

Lending Sales Commercial Loans 377

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. Shamrock’s team originated about $300 million so far this year, per the mortgage platform Modex. That’s not the first addition to CMG this year.

Loan Officer 391

Loan Officer Lending Loans Finance 391

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

Mortgages 393

Mortgages Lending Construction Finance 393

Housing Wire

APRIL 5, 2024

Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement. “Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan. .

Pre-approval 427

Pre-approval Marketing New Construction Construction 427

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. The investment in Thrive comes amid a wave of M&A activity in the mortgage lending space.

Mortgages 369

Mortgages Lending Banks Loans 369

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. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

Mortgages 408

Mortgages Marketing Banks New Construction 408

Housing Wire

DECEMBER 22, 2020

Retail lender Movement Mortgage has invested $200 million to expand its nonprofit Movement Foundation , and to accelerate the development of its growing charter school network. Movement Foundation uses dividends from the mortgage company for affordable housing and related projects to support community stability through homeownership.

Mortgages 393

Mortgages Development Construction Finance 393

Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% At the same time, builders also adapted to the needs of today’s home buyers who are navigating higher mortgage rates. After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. Over the past year, the value of the U.S.

Marketing 509

Marketing New Construction Finance Construction 509

Housing Wire

APRIL 28, 2022

Ohio-based Union Home Mortgage is the latest in a string of lenders this week to institute workforce reductions. The multichannel lender, which originated roughly $13 billion in residential mortgage last year, declined to provide any details about the layoffs. The lender’s origination volume increased 25.8% billion, up 65.5%

Mortgages 349

Mortgages Loan Officer Residential Loans 349