Housing Wire

MARCH 28, 2024

Department of Housing and Urban Development (HUD) on Thursday announced $173.8 million in new grant and loan awards under the Green and Resilient Retrofit Program (GRRP), which brings the level of total funding awarded under it to $544 million, now comprising more than 50% of the full allocation. million grant under the GRRP program.

Loans 368

Loans Renovation Development 368

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Loans 455

Loans FHA loan Equity Mortgages 455

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

VA loan 421

VA loan Loans Loan Officer Brokerage 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 382

Loans Development Finance Design 382

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

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 398

Loans Mortgages Development As-is 398

Housing Wire

APRIL 27, 2023

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has appointed Brian McKray as the director of product development. The platform offers granular insights into lenders, loan officers, and real estate agents by region or individual transactions.

Development 315

Development Loan Officer Loans Technology 315

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification. “The UWM, which originated $33.5

Construction 397

Construction Loans Loan Officer New Construction 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 397

Loans Technology Mortgages Development 397

Housing Wire

NOVEMBER 16, 2023

CUSO Home Lending rolled out Dark Matter Technologies ’ Empower loan origination system (LOS) for its credit union owners. Dark Matter Technologies, which completed the acquisition of Black Knight ’s Empower and Optimal Blue in September, is prioritizing bringing down origination costs for lenders.

Lending 398

Lending Technology Loans Branding 398

Housing Wire

JUNE 15, 2023

Guild Mortgage announced on Thursday the appointment of Lamont Watson as the company’s first vice president of diverse talent development. Improving talent development processes, including mentorship and career advancement opportunities, will be a key priority to attract and retain diverse talent, the company said.

Development 324

Development Loan Officer Banks Mortgages 324

Housing Wire

JUNE 30, 2023

According to the company’s statement, “The relevant loans, some dating back 15 years, make up less than a half percent of our total federal loans originated during this time frame. Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them.

Loans 382

Loans Mortgages Land Development 382

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

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 376

Loans Purchase and sale agreement Due diligence Industrial 376

Housing Wire

FEBRUARY 2, 2023

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. Prior to his role at Apex Home Loans, Anzoleaga has held roles as a certified local facilitator at Buffini & Company, a senior vice president of residential lending at Draper and Kramer Mortgage Corp.

Lending 363

Lending Residential Loans Mortgages 363

Housing Wire

NOVEMBER 30, 2022

Cloudvirga’s platform solves for both by creating the best experience for borrowers and loan officers. The Cloudvirga team has been able to dramatically improve the experience of the borrower and the loan officer. It focuses on more than just task management and automation.

Loan Officer 345

Loan Officer Loans Branding Technology 345

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 331

Loans Finance Lending Mortgages 331

Housing Wire

MARCH 9, 2023

The Federal Housing Administration ( FHA ) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows mortgagees to increase the maximum term of an FHA-insured mortgage loan modification from 360 to 480 months following a default.

Loans 370

Loans Real-estate owned Mortgages Development 370

Housing Wire

OCTOBER 18, 2023

Department of Housing and Urban Development (HUD), Julia Gordon. The commissioner also discussed the rise in mortgage loan assumptions. The new option allows servicers to use the FHA partial claim to bring borrowers’ home loans current and temporarily reduce their monthly payments for three to five years.

Loans 404

Loans Mortgages Lending Closing 404

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

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 406

Loans Development Mortgages Technology 406

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

JUNE 27, 2023

A former high-ranking employee at nonbank The Change Company CDFI (TCC) filed a lawsuit in California accusing the company of retaliation after he notified executives of employees “mischaracterizing loans” to apparently skirt federal reporting requirements. Department of Treasury.

Loans 341

Loans Investor Banks Lending 341

Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. It remains unclear when the FHA plans to add the 40-year loan modification option to its servicing and loss mitigation handbook.

Loans 421

Loans Industrial Mortgages Real-estate owned 421

Inman

DECEMBER 22, 2023

Colony Ridge, the developer of more than 40,000 lots northeast of Houston, says its clients have no opportunity to get a loan from anyone else and dismisses federal lawsuit as baseless.

Development 164

Development Closing Marketing Loans 164

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 383

Loan Officer FHA loan Loans Mortgages 383

Housing Wire

MARCH 30, 2023

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. I developed a ton of great relationships over that time there.

Loans 380

Loans Mortgages Loan Officer Lending 380

Housing Wire

MARCH 18, 2022

Over the years I ended up teaching classes on renovation loans, mortgage insurance, mortgage mechanics, etc.,” Then about six years ago, I taught a class on government loans and included a class section on reverse mortgages, and things have never been the same.”. In the last six years, my HECM production has steadily grown.”.

Loans 484

Loans Closing Mortgages Equity 484

Housing Wire

JUNE 14, 2022

million to settle claims that they allegedly ran a mortgage loan modification and foreclosure rescue scheme that targeted Hispanic homeowners. Kourouklis ran a company called Summit Development Solutions USA, LLC , which provided mortgage modification services to clients of ALG. and its owners, Jon B. appeared first on HousingWire.

Loans 359

Loans Mortgages Development Closing 359

Housing Wire

JUNE 14, 2022

Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 The nonperforming loans involved in the deal, dubbed FNMA 2022-NPL1 , were divided into two pools, with MCLP the winning bidder for both pools. BofA Securities Inc.

Loans 367

Loans Purchase and sale agreement Sales Principal 367

Inman

MAY 6, 2024

Qualcomm and Intel veteran Shawn Malhotra comes to Rocket from Thomson Reuters where, as head of engineering, he helped the global media giant develop a cloud-based, API-driven generative AI platform.

Development 114

Development Loans Technology Mortgages 114

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. The post Caliber Home Loans plans $2B-plus IPO appeared first on HousingWire.

Loans 371

Loans Lending Mortgages Equity 371

Housing Wire

NOVEMBER 11, 2021

With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.).

Loans 450

Loans Title Finance Lending 450

Housing Wire

JUNE 8, 2021

According to Lind, one way for existing housing stock to be expanded and improved upon is through investors or developers using fix’n’flip loans. A fix’n’flip loan is designed to cover the costs of purchasing a home and renovating it.

Loans 338

Loans Lending Renovation New Construction 338

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officer 406

Loan Officer Mortgages VA loan Lending 406

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

JANUARY 12, 2021

HousingWire: Why did you develop the Jumbo Prime program? Keith Lind: This specific program has been developed to meet the needs of customers in today’s environment. We wanted to introduce a program that provides borrowers with the larger loan amounts they need to purchase or refinance a high-value property.

Loans 297

Loans Lending Development Mortgages 297