Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0

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Housing Wire

AUGUST 27, 2024

Department of Housing and Urban Development (HUD). The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months).

Loans 448

Loans Renovation Principal Finance 448

Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. “The Department of Veterans Affairs (VA) space.

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Purchase and sale agreement Equity Loan Officer Principal 397

Housing Wire

MARCH 7, 2025

Department of Housing and Urban Development (HUD) is considering employing cryptocurrency and blockchain technology to monitor the employment of agency grants, which some staffers believe could be a trial run for wider deployment of the technology across the federal government. This is according to a report published Friday by ProPublica.

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Technology Principal Industrial As-is 325

Housing Wire

APRIL 3, 2025

At the core of the dispute was collateral stemming from HECM-backed Securities ( HMBS ) tails the issuance of additional securities backed by the remaining unpaid principal balance of a HECM loan after it has been securitized into an HMBS pool. Tails are not from new loans, but they do represent new amounts lent.

Banks 304

Banks Principal Mortgages Lending 304

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 476

Loans Title Finance Lending 476

Housing Wire

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings.

Loans 448

Loans Mortgages Industrial Principal 448

Housing Wire

APRIL 24, 2025

The HECM Tool a software platform designed to serve as a reverse mortgage sales conversion tool announced this week that it has integrated the proprietary reverse mortgage offering from Smartfi Home Loans into the platforms existing visualization and comparison capabilities.

Mortgages 279

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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.

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Loans Purchase and sale agreement Sales Principal 370

Housing Wire

JANUARY 10, 2025

Brown also served as managing director of sales for mortgage technology firm Black Knight , as chief revenue officer for Lift Strategic Partners and as principal for Brown Derby Consulting. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.

Principal 370

Principal Lending Development Mortgages 370

Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. With several top 10 reverse mortgage lenders now active in some form within the U.S. In the case of FOA — the current industry leader — the earnings results were robust.

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Investor Mortgages Bankruptcy Equity 370

Housing Wire

MARCH 5, 2024

With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Why are there two HECM interest rates used with HECM loans?

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Housing Wire

APRIL 4, 2024

This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). For such a critical number, little has been written about the expected rate and its impact on HECM loans. When looking up the borrower’s principal limit factor, we would use 6.75%. Example With a 2.5%

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Principal Mortgages Loans Equity 444

Housing Wire

FEBRUARY 2, 2021

Ginnie Mae announced its first guarantee of a mortgage-backed security backed by digital pools, or pools of loans that consist entirely of eNotes. The MBS were loans closed by Rocket Mortgage in December, are issued as of Jan. The total principal value of the digital pools came to about $24 million.

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Principal Closing Loans Mortgages 513

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 The average loan balance in the reference pool is $315,272, with the maximum balance at $1.56

Principal 448

Principal Loans Investor Residential 448

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. After the payment supplement period ends, however, the borrower will be responsible for resuming payment of the full monthly principal and interest amount.

Principal 459

Principal Loans Mortgages Renovation 459

Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan 448

VA loan Principal Residential Loans 448

Housing Wire

APRIL 24, 2024

Take a look below to see this year’s list of honorees. Congratulations to the 2024 Rising Stars! Name Job Title Company Name A.T.

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Principal Due diligence Lending Title 459

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.

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Sales Principal Loans Banks 418

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 493

Mortgages Loans Principal Development 493

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.

Loans 508

Loans Principal Banks Closing costs 508

Housing Wire

MAY 13, 2024

Department of Housing and Urban Development (HUD) to resolve allegations of discriminatory housing practices, the parties announced on Monday. McCain, HUD’s principal deputy secretary for fair housing and equal opportunity, said in a statement. Rocket Mortgage , the third largest U.S. The effective date for the new rule is June 18.

Lending 442

Lending Land Principal Finance 442

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 396

Loans Technology Principal Development 396

Housing Wire

JANUARY 22, 2024

Lux’s career includes positions at Freddie Mac where he was executive vice president and chief information officer for seven years, and principal at Towers Watson , a global professional services company, where he was responsible for leading teams in the delivery of commercial risk modeling technology for the insurance industry.

Technology 459

Technology Principal Commercial Loans 459

Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance.

Mortgages 434

Mortgages Equity Principal Loans 434

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 455

Loans Equity Principal Development 455

Housing Wire

JULY 25, 2024

Right now, with the principal limit factors where they are, especially with younger borrowers (in their 60s to mid-70s), you run the numbers for people and they see that principal limit. Department of Housing and Urban Development ] need to look at this and find a way to bump up the principal limit factors.

Mortgages 444

Mortgages Principal Development Industrial 444

Housing Wire

AUGUST 9, 2021

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%. This is the biggest decrease in the share of loans in forbearance in three weeks, noted Mike Fratantoni, MBA senior vice president and chief economist.

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Principal Loans Staging Mortgages 459

Housing Wire

MARCH 10, 2022

Lakeview Loan Servicing , one of the nation’s largest issuers of Ginnie Mae securities, is making a play in the private-label securities market by sponsoring an offering backed by a pool of 2,192 Federal Housing Administration -guaranteed mortgages valued at $423.6 A fourth such transaction, a $370.7 And what am I getting?

Mortgages 396

Mortgages Principal Loans FHA loan 396

Housing Wire

APRIL 7, 2021

According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. We worked with the GSEs to develop better call scripts to ensure at-risk borrowers understood their options.

Mortgages 504

Mortgages Principal Loans Finance 504

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. It examines the quantity and, equally as important, the quality of credit and services provided.

Banks 516

Banks Lending Loans Principal 516

Housing Wire

JULY 8, 2024

That’s the third round this year, following the acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS ) for $720 million in October 2023, which brought some redundancies to its structures. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March.

Loan Officer 445

Loan Officer Principal Finance Mortgages 445

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 448

Mortgages VA loan Principal Loans 448

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 476

VA loan Loans Principal Mortgages 476

Housing Wire

JULY 15, 2024

Department of Housing and Urban Development (HUD) announced on Monday that it has charged lender Rocket Mortgage , two appraisal companies and one appraiser with allegedly issuing a biased valuation and denying a refinance loan to a Black homeowner in Denver.

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Principal Loans Development Mortgages 428

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.

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Principal Loans Investor Industrial 468

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 476

Technology Title Development Lending 476