Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Mortgages 362

Mortgages Finance Lending Equity 362

Housing Wire

JANUARY 29, 2024

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. FAR Longbridge +1 3 PHH Mortgage 16.3% PHH Mortgage TMAC +2 6 Guild Mortgage 2.7% MAM Plaza +1 9 Sun West 0.5%

Mortgages 371

Mortgages Finance Equity Design 371

Housing Wire

APRIL 29, 2024

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A

Mortgages 381

Mortgages Equity Loans Closing 381

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. a competing model that also incorporates trended credit bureau data.

Loans 385

Loans Mortgages Lending Finance 385

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 380

Construction Finance Design Technology 380

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

Closing 348

Closing Mortgages Banks Lending 348

Housing Wire

MARCH 17, 2023

a mortgage artificial intelligence firm focused on automated mortgage underwriting decisions, has conducted layoffs as lenders rush to cut costs. Candor is executing a change in strategy to address the ever-changing mortgage market and to pivot along with client operations,” Tom Showalter, CEO of Candor , said in an e-mailed response.

Mortgages 324

Mortgages Technology Title Lending 324

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Non-qualified mortgages will continue to be the dominant product in the broker channel, the company said.

Mortgages 347

Mortgages Lending Commercial Brokerage 347

Housing Wire

JULY 19, 2022

Miami-based fintech Milo has closed $10 million in cryptocurrency mortgages since unveiling the product earlier this year, the company announced early Tuesday. The lender’s 30-year crypto mortgage is designed to make it easy for investors to use their digital holdings to acquire homes in the U.S. or pursue refinancing.

Mortgages 408

Mortgages Loans Lending Investor 408

Housing Wire

OCTOBER 31, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach reduced employee headcount by at least 20 this month as the industry struggles to stay afloat amid mortgage lenders rightsizing during one of the most challenging times. Sales Boomerang and Mortgage Coach declined to comment on the size and reason for the layoffs.

Sales 383

Sales Mortgages Loan Officer Loans 383

Housing Wire

MAY 16, 2024

United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan. The top U.S. Department of Veteran Affairs (V.A.) loans but only for refinances.

Title 381

Title Loans Mortgages Closing 381

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 351

Banks Mortgages Technology Branding 351

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day. million in Q2 2022.

Banks 375

Banks Mortgages Loans Investor 375

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. CFPB’s probe into mortgage lenders The CFPB’s probe into mortgage lenders was shared back in Fall 2021.

Mortgages 416

Mortgages Lending Loans Loan Officer 416

Housing Wire

APRIL 24, 2024

I am humbled to join Mike and this extremely talented team that is setting a new standard for the finance industry and look forward to leading Figure into its next phase of growth.” Tannenbaum boasts more than 15 years of experience in financial technology and financial services.

Lending 340

Lending Technology Design Finance 340

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.

Title 407

Title Finance Loans Lending 407

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. It’s an open platform. We’re not huge, but we’re not small either.”.

Due diligence 438

Due diligence Mortgages Equity Loans 438

Housing Wire

JANUARY 26, 2022

Tomo , a fintech mortgage startup run by former Zillow executives, is expanding its presence, announcing this week that it will now serve borrowers in Florida, Connecticut and Colorado. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Presented by: Mr. Cooper. the fintech company said.

Mortgages 317

Mortgages VA loan Pre-approval Lending 317

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 98

Finance Debt-to-income ratio FHA loan Mortgages 98

Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage. billion, did not have the required NFIP coverage.

FHA loan 357

FHA loan Mortgages Loans Lending 357

Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. The programs are key to the GSEs’ equitable housing finance plans.

Closing costs 363

Closing costs Finance Lending Development 363

Housing Wire

MAY 15, 2024

Its plan takes aim at liquidity, budget authority, pay scales and other potential flexibilities to more closely align with the value it brings to the government and the broader mortgage market. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

Banks 314

Banks Loans Development Mortgages 314

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 443

VA loan Agents Seller concession FHA loan 443

Housing Wire

AUGUST 28, 2023

The CDFI certification is a designation given by the U.S. Department of Treasury CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 366

Lending Finance Loans Mortgages 366

Housing Wire

JUNE 15, 2021

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Johnson, based in Miami, has also worked at PNC Bank during his career in mortgage banking. Sprout does most of its business through mortgage brokers.

Mortgages 348

Mortgages Lending Banks Residential 348

Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

Title 301

Title Closing Sales Finance 301

Housing Wire

APRIL 23, 2024

Rocket Mortgage launched a new artificial intelligence (AI) tool on Tuesday that allows its client experience teams to analyze sentiment, record behavior patterns, transcribe conversations and create tailored experiences during customer interactions. The lender estimates it will save tens of thousands of hours annually.

Loans 337

Loans Finance Mortgages Lending 337

Housing Wire

OCTOBER 2, 2023

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Monday raised agency conforming loan limits to $750,000, ahead of the Federal Housing Finance Agency’s (FHFA) decision expected in November. Meanwhile, United Wholesale Mortgage followed suit the following day. That’s only a 3% or 3.5% increase.

Loans 420

Loans Mortgages Finance Land 420

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. HW: How has mortgage finance changed in the last few years?

Banks 327

Banks Lending Finance Mortgages 327

Housing Wire

NOVEMBER 17, 2022

This debate comes at a time when mortgage rates have doubled since the beginning of the year, from around 3.5% to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. 1 way most regular Americans build wealth.

Mortgages 257

Mortgages Finance Loans Development 257

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

Mortgages 361

Mortgages Equity Finance Technology 361

Housing Wire

MARCH 28, 2024

Better Home & Finance Holding Co. , Better has been launching digital products with its proprietary technology, including digital VA loans and a one-day mortgage product. About 80% of the mortgages at Better are now being funded as one-day products, Garg noted.

Loan Officer 381

Loan Officer VA loan Loans Technology 381

Housing Wire

NOVEMBER 6, 2023

Policymakers and the mortgage industry must reckon with historical and present-day barriers that lock would-be homebuyers of color out of the market altogether,” according to the report published on Monday. In terms of adopters, government-sponsored enterprises (GSEs), large mortgage lenders and fintech firms have used AI.

Equity 334

Equity Mortgages Finance Development 334

Housing Wire

JULY 28, 2023

Through partnerships with Bubble Insurance Solutions and New American Funding , real estate agents at The Agency will have access to mortgage lending services and insurance services for their clients. Through The Agency’s partnership with New American Funding, the mortgage lender will serve as The Agency’s preferred mortgage lender partner.

Brokerage 336

Brokerage Finance Lending Mortgages 336

Housing Wire

JUNE 4, 2021

Bill Dallas , president of Finance of America Mortgage , will speak at engage.marketing on the panel: Winning in a red-hot purchase market. Dallas is a mortgage industry veteran, building two mortgage companies from the ground up: First Franklin and Ownit Mortgage Solutions , starting in 1981. Not a member?

Finance 355

Finance Loans Mortgages Design 355

Housing Wire

DECEMBER 30, 2020

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries. Quite the opposite. Sales of new homes spiked 18.6% bond market.

Mortgages 545

Mortgages Loans VA loan Investor 545

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 362

Lending Principal Finance Loans 362