Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 404

Mortgages Banks Equity Land 404

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 381

Mortgages Inspection Principal Development 381

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. million security backed by non-QM mortgages. among others.

Mortgages 381

Mortgages Principal Banks Equity 381

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

MARCH 6, 2024

They also come as the mortgage industry is making efforts to adopt artificial intelligence solutions to improve productivity and better assist customers. Follette, who joined Pennymac 12 years ago, became the company’s senior managing director and chief mortgage operations officer in 2022.

Technology 414

Technology Principal Commercial Mortgages 414

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 393

Mortgages Loan Officer Lending Principal 393

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. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

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 483

Mortgages Principal Loans Finance 483

Housing Wire

MARCH 27, 2024

In a letter submitted to Bell on Monday, the CHLA called on the VA to expedite regulatory change that would allow veterans and active-duty service members to fund buyer-broker commissions when purchasing a home with a VA mortgage. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 442

VA loan Loans Principal Mortgages 442

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

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Investor Bankruptcy Finance Equity 414

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.

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Technology Development Title Lending 442

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. This change triggered controversy.

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FHA loan Mortgages Loans Principal 382

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 382

FHA loan Mortgages Loan Officer VA loan 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. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

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Loans Principal Mortgages Real-estate owned 488

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 370

Mortgages Banks Marketing Residential 370

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 370

Principal Development Finance Industrial 370

Housing Wire

JULY 12, 2023

BlackFin Group announced on Wednesday the appointment of Christopher Call as the principal consultant on the BlackFin Group Professional Services team. Throughout his career, Call has held similar positions at Mortgage Cadence , Source Point Mortgage Solutions , and Argent Mortgage.

Principal 369

Principal Technology Banks Mortgages 369

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 381

Loans Principal Technology Development 381

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 404

Principal Finance Mortgages Loans 404

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).

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Lending Principal Finance Loans 404

Housing Wire

MARCH 23, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). New home sales increased in February for the third straight month, in a sign that the market may be stabilizing,” Kelly Mangold, the principal of RCLCO Real Estate Consulting , said in a statement. “As New home sales continued to rise in February, jumping 1.1%

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Sales Principal MLS Mortgages 404

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 450

VA loan Agents Seller concession FHA loan 450

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 424

Lending Bankruptcy Mortgages Principal 424

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 million, with an average loan size of $153,097 and an average mortgage note rate of 4.62%. million that was divided into two separate pools. BofA Securities Inc.

Loans 370

Loans Purchase and sale agreement Sales Principal 370

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 413

Sales Loan Officer Principal Loans 413

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). Change sued the CDFI Fund in late August, complaining about the Fund’s analysis.

Lending 413

Lending Principal Finance Loans 413

Housing Wire

SEPTEMBER 16, 2022

LLC (PIMCO) for Pool 1, DLJ Mortgage Capital Inc. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. “All Fannie Mae last year put on the market some 100,000 reperforming loans across five offerings with an aggregate unpaid principal balance of $14.5

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Sales Principal Loans Banks 393

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 Gordon said, however, that the agency is “not done yet.”

Industrial 382

Industrial Principal Loans Mortgages 382

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 433

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 393

Banks Principal Finance Equity 393

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. There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. The loan must be secured by a principal residence.

Principal 488

Principal Loans Banks Closing costs 488

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. billion in unpaid principal balance (UPB) in 2023, down 9% year over year.

Technology 404

Technology Loans Principal Mortgages 404

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 382

Banks Bankruptcy Loans Investor 382

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 450

Finance Seller concession Loan Officer Loans 450

Housing Wire

DECEMBER 21, 2021

HousingWire Editor-in-Chief Sarah Wheeler had the opportunity to catch up with Autumn Barkhuff, CoreLogic Principal of Program Management, to talk about potential housing market trends in 2022 and how real estate analytics can enable decision making. “So But it’s not just the data that sets CoreLogic apart in the industry, she explained.

Principal 393

Principal Development Industrial Marketing 393

Housing Wire

MAY 31, 2021

His list of accomplishments includes being the principal drafter of the mortgage forbearance program enacted through the CARES Act, which reshaped the mortgage industry and enabled more than 4 million homeowners to hit the pause button on their mortgage. Senate Finance Committee.

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Principal Banks Finance Mortgages 401

Housing Wire

AUGUST 9, 2021

1, according to a survey from the Mortgage Bankers Association. The percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased four basis points to 3.63%, and the percentage of loans in forbearance for depository servicers decreased 10 basis points to 3.49%. Per MBA’s estimate, 1.7

Principal 424

Principal Loans Staging Mortgages 424