Housing Wire

FEBRUARY 21, 2024

Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration ’s (FHA) payment supplement partial claim. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae. million COVID-19 loss-mitigation actions.

Principal 389

Principal Loans Mortgages Renovation 389

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.

Loans 365

Loans Purchase and sale agreement Sales Principal 365

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. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 441

VA loan Loans Principal Mortgages 441

Housing Wire

JANUARY 5, 2022

Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. 21 letter that a number of mortgage servicers employed by FHA-approved lenders failed to adequately implement loan modification options the FHA introduced in July.

Mortgages 464

Mortgages Loans Principal Development 464

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 442

Loans Title Finance Lending 442

Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. The report assessed 533,894 HECM loans originated and terminated during the 20-year study period.

Loans 329

Loans Equity Principal Development 329

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

FHA loan 375

FHA loan Mortgages Loan Officer VA loan 375

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Loans amounts are equal to 50% of the combined value of both Bitcoins and property. dollars for mortgage transactions.

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

APRIL 7, 2021

While overall complaints were up 54% year-over-year, complaints against mortgage companies were up just 7.5%, and complaints against mortgage servicers were actually down, by 3.5%. These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry.

Mortgages 440

Mortgages Principal Loans Finance 440

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. 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 loan 447

VA loan Agents Seller concession FHA loan 447

Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

Mortgages 325

Mortgages Inspection Principal Development 325

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

FHA loan 360

FHA loan Mortgages Loans Principal 360

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development.

Mortgages 380

Mortgages Loan Officer Lending Principal 380

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 430

Technology Development Title Lending 430

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. That’s 20 basis points higher than the international standard.

Mortgages 342

Mortgages Banks Marketing Residential 342

Housing Wire

FEBRUARY 16, 2023

LauraMac, a provider of mortgage loan review SaaS technology, has appointed Rick Seehausen as its chief strategy officer. In his new role, Seehausen will work with the leadership team at LauraMac, overseeing strategic planning and developing new and existing products. “I

Loans 314

Loans Principal Technology Development 314

Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Mortgage Insurers (USMI) as its president in 2023.

Principal 344

Principal Development Finance Industrial 344

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 393

Sales Principal Loans Banks 393

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 417

Principal Loans Investor Industrial 417

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance.

Finance 437

Finance Seller concession Loan Officer Loans 437

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The government-sponsored enterprise will start accepting such loans immediately. The loan must be secured by a principal residence. There may be more to come.

Principal 488

Principal Loans Banks Closing costs 488

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. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

Lending 375

Lending Principal Finance Loans 375

Housing Wire

FEBRUARY 6, 2023

Michigan-based United Wholesale Mortgage (UWM) has named Andrew Hubacker as its chief financial officer, the company announced on Monday. Hubacker joined the mortgage lender in October 2020 as chief accounting officer. He became an interim principal financial officer in July 2022 following the death of Timothy Forrester.

Principal 368

Principal Finance Mortgages Loans 368

Housing Wire

FEBRUARY 24, 2023

Housing sector leaders acknowledge that some borrowers are still struggling to pay their mortgages after being hit by layoffs and other issues caused by the Covid-19 pandemic. And this time, they also have to consider the surging mortgage rates landscape. “We Falcioni, chief of Loan Management at the VA, said during the conference.

Industrial 356

Industrial Principal Loans Mortgages 356

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 391

Lending Bankruptcy Mortgages Principal 391

Housing Wire

FEBRUARY 2, 2024

That’s despite a net loss in the last quarter of the year attributable to the resolution of a long-standing arbitration process with Black Knight regarding its servicing technology and losses in mortgage servicing rights (MSR) fair value. Loan production was $99.4 California-based Pennymac delivered a $144.7

Technology 366

Technology Loans Principal Mortgages 366

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

Sales 352

Sales Loan Officer Principal Loans 352

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

Banks 368

Banks Bankruptcy Loans Investor 368

Housing Wire

NOVEMBER 16, 2023

Department of the Treasury have agreed to settle a lawsuit in which the lender claims “flawed analysis and mathematical errors” led to its decertification as a Community Development Financial Institution (CDFI). The lender, which became a CDFI in 2018, claims it has funded over $25 billion in loans to over 75,000 families.

Lending 350

Lending Principal Finance Loans 350

Housing Wire

AUGUST 9, 2021

1, according to a survey from the Mortgage Bankers Association. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased, falling five basis points to 1.74%, and Ginnie Mae loans decreased 12 basis points to 4.18%. of total loans in forbearance are in the initial plan stage, while 82.9% By stage, 9.7%

Principal 424

Principal Loans Staging Mortgages 424

Housing Wire

FEBRUARY 19, 2024

That’s because the unpaid loan balance continues to grow for delinquent mortgages due to unpaid interest, property taxes and insurance. While the average value of the 80,000 properties analyzed increased 3% between the first and last scheduled foreclosure auction date, the average unpaid loan balance increased by 6 percent.

Equity 407

Equity Purchase and sale agreement Loans Mortgages 407

Housing Wire

MARCH 21, 2022

RESPA has strict rules for real estate and mortgage professionals regarding kickbacks, referrals, and unnecessary fees. Sponsorship of events can also be deemed illegal if the event is used for marketing or publicizing a real estate or mortgage company’s services. The loans that are exempt from RESPA. Loan for vacant land.

Agents 321

Agents VA loan Land Construction 321

Housing Wire

MAY 23, 2022

California-based nonbank mortgage lender Pennymac Financial Services will lay off 207 additional employees in June and July following a workforce reduction filing of more than 230 employees in March. Layoffs of 190 employees at Pennymac were first reported by National Mortgage News. Pennymac reported a pretax income of $234.5

Loan Officer 393

Loan Officer Loans Principal Mortgages 393

Housing Wire

MAY 2, 2022

Six months ago Interfirst Mortgage Co. issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

Loan Officer 367

Loan Officer Principal Loans Mortgages 367

Housing Wire

APRIL 21, 2022

Mortgage originator and servicer Mr. Cooper Group announced on Thursday that it is promoting two of its own into executive vice president roles. Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . billion in mortgages in the fourth quarter, a 13.9% Cooper Group Inc.,

Banks 382

Banks Principal Finance Equity 382

Housing Wire

JULY 28, 2021

This is according to John Lunde, president of Reverse Market Insight (RMI) during a presentation at the National Reverse Mortgage Lenders Association (NRMLA) Virtual Summer Meeting this month. Reverse mortgage penetration remains stubbornly low. Nobody wants to see their market share go down,” Lunde says. “But,

Mortgages 294

Mortgages Loans Equity Industrial 294

Housing Wire

AUGUST 1, 2023

From leading mortgage companies and real estate firms to spearheading groundbreaking initiatives and driving policy reforms, these honorees are making an indelible impact on housing.

Lending 370

Lending Title Mortgages Equity 370