Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product.

Development 421

Development Loans Banks Mortgages 421

Housing Wire

JUNE 30, 2023

The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2023-14 this week, which increases the threshold from $75 million to $120 million for multifamily loans to be considered large loans. FHA’s other requirements in the MAP Guide related to Large Loans remain unchanged.”

Loans 384

Loans Development Finance Design 384

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 421

Loans Closing costs Development Finance 421

Housing Wire

MARCH 22, 2023

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Quo raised $7.2

Finance 384

Finance Loan Officer Loans Development 384

Housing Wire

NOVEMBER 14, 2023

Government sponsored-enterprises (GSEs) Fannie Mae and Freddie Mac will each have a $70 billion cap for multifamily loan purchases in 2024, the Federal Housing Finance Agency (FHFA) announced Tuesday. However, in 2024, loans classified as supporting workforce housing properties are exempt from the volume cap.

Loans 346

Loans Finance Lending Mortgages 346

Housing Wire

MARCH 23, 2022

As the housing market continues to move from last year’s refinance boom, lenders’ ability to identify customers and maintain consumer relationships has become more important than ever in not only securing loans but also ensuring they make it to close. HousingWire: What role are marketers playing in this current?

Finance 366

Finance Loan Officer Loans Lending 366

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 370

Finance Equity Mortgages Principal 370

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 397

Loans Purchase and sale agreement Due diligence Industrial 397

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

Finance 397

Finance Lending Title Mortgages 397

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

Loans 421

Loans Mortgages Development As-is 421

Housing Wire

MAY 1, 2024

This has led to the development of policies by state and local housing finance agencies to aim assistance specifically at this group, particularly for “mortgage eligibility or down payment and closing costs assistance.” Identification of a loan under these conditions is currently optional, the bulletin explained.

Mortgages 421

Mortgages Finance Closing costs Loans 421

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. The administration added that some loans funded through mortgage revenue bonds may not qualify for the new loss mitigation option.

Loans 496

Loans Principal Mortgages Real-estate owned 496

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

Loans 450

Loans Title Finance Lending 450

Propmodo

APRIL 28, 2024

In many of the country’s largest cities, like New York City and Philadelphia, neighborhoods that were once affordable became increasingly unaffordable as development and an influx of new residents sent property values soaring. CBDOs are defined as non-profit organizations that work on community development projects in a specific area.

Development 115

Development Land Lending Finance 115

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. Because Gastelum’s client started a new job within 30 days, an underwriter at Nova decided that there was no interruption to his income and approved the loan.

Loan Officer 397

Loan Officer FHA loan Loans Mortgages 397

Housing Wire

SEPTEMBER 28, 2023

Having completed the $12 billion acquisition of Black Knight , Intercontinental Exchange (ICE) is confident in evolving into a true life-of-loan platform: powering origination to final settlement, all in one unified digital ecosystem, executives said during its conference call with analysts. “By

Loans 431

Loans Technology Mortgages Development 431

Housing Wire

APRIL 14, 2023

In total, the GSE purchased 45 loans with AOLs out of a grand total of 1.151 million loans purchased throughout the year. Fannie Mae estimates that homebuyers who used AOLs as opposed to a traditional title insurance policy saved an average of $1,034 compared to homebuyers in the same states who used traditional title policies.

Loans 370

Loans Title Land Finance 370

Housing Wire

NOVEMBER 8, 2021

Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company. While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex.

Finance 384

Finance Mortgages Lending Equity 384

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

Loans 466

Loans Technology Mortgages Finance 466

Housing Wire

OCTOBER 2, 2020

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. It originated about $36 billion in mortgages during the first half of the year, according to Inside Mortgage Finance.

Loans 430

Loans Lending Mortgages Equity 430

Housing Wire

JANUARY 29, 2021

Over the past six months, mergers and acquisitions, huge financing rounds and public offerings have dominated headlines across the real estate and housing finance sector. This level of action is keeping finance executives like Jeremy Collett , Executive Director, Capital Markets at Guaranteed Rate busier than ever.

Finance 368

Finance Industrial Mortgages Loans 368

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% 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 458

VA loan Agents Seller concession FHA loan 458

Housing Wire

APRIL 30, 2024

We’ve also implemented project management technologies and streamlined processes to improve workflow and turnaround times for loan officer requests, effectively halving the time it takes to fulfill them. HousingWire: The Money Store prides itself on providing easy, efficient, and affordable home financing.

Loan Officer 421

Loan Officer Technology Loans Finance 421

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Industrial 504

Industrial Seller concession Purchase and sale agreement Agents 504

Housing Wire

JANUARY 4, 2022

loanDepot announced this week that it will begin servicing Ginnie Mae loans in-house, following a 2021 decision to do the same for Fannie Mae and Freddie Mac -backed loans. Developing those processes internally can be difficult, however. “It’s

Loans 410

Loans Development Mortgages Technology 410

Housing Wire

MARCH 1, 2024

Mortgage trade groups have commended the moves taken by the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs) to address a spike in loan buybacks — the latest being a new electronic notification made available by Fannie Mae.

Loans 432

Loans Mortgages Construction Finance 432

Housing Wire

JANUARY 19, 2024

6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Mortgages 458

Mortgages FHA loan Loan Officer Loans 458

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations.

Mortgages 441

Mortgages Title Loans Lending 441

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 431

Mortgages Finance Lending Equity 431

Housing Wire

MARCH 7, 2024

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. decline from 2022, according to Inside Mortgage Finance.

Lending 431

Lending Loans Renovation Mortgages 431

Housing Wire

FEBRUARY 12, 2024

Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. It also has a niche in construction and manufactured home loan programs. residential mortgage market and housing-related assets.

Lending 430

Lending New Construction Construction Finance 430

Housing Wire

FEBRUARY 27, 2024

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. Last year, Floify commissioned an independent study of 150 high-performing loan originators (LOs) to gain recruiting and retention insights. This exercise can reveal inherent weaknesses and strengths in the business model.

Finance 421

Finance Technology Loans Industrial 421

Realty Biz

OCTOBER 21, 2023

First-time Spec house builders need to understand the nuances of financing to ensure successful projects. From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Builders may face difficulties obtaining financing due to the higher risks of speculative projects.

Loans 108

Loans Finance Construction Commercial 108

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates. In the mortgage space, TD Bank was a top-35 U.S.

Banks 420

Banks Lending Loans Finance 420

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 450

VA loan Loans Principal Mortgages 450

Eye on Housing

MAY 26, 2023

While mortgage rates were stabilizing in the first quarter of 2023, rates on loans for Acquisition, Development & Construction (AD&C) continued to climb, according to NAHB’s quarterly Survey on AD&C Financing.

Construction 69

Construction Development Loans Finance 69

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.” Founded in 2007, it was the only top 10 national lender to grow its sales volume on a year-over-year basis in the first half of 2023, according to Inside Mortgage Finance data.

Lending 420

Lending Sales Commercial Loans 420