Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 477

Lending Banks Mortgages Loan Officer 477

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. Rising home prices have pushed tappable home equity near its 2022 peak, but high interest rates have made homeowners reluctant to extract that wealth.

Residential 479

Residential Lending Banks Mortgages 479

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 441

Equity VA loan FHA loan Mortgages 441

Housing Wire

JANUARY 4, 2024

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. “If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” ” Molinsky told NextAvenue.

Equity 399

Equity Renovation Lending Finance 399

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 384

Equity Marketing Fixed-rate mortgage Finance 384

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Presented by: Selene Finance. The post FHFA: GSE servicers must keep fair lending data appeared first on HousingWire.

Lending 384

Lending Loan Officer Finance Loans 384

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic. These loans are also highly secured and collateralized. .”

Banks 366

Banks Lending Finance Investor 366

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 384

Equity Lending Loans Banks 384

Housing Wire

APRIL 23, 2024

Cooper Group named former Wells Fargo Home Lending executive Ranjit Bhattacharjee and former Piper Sandler analyst Kevin Barker to its leadership team on Tuesday. He will be responsible for oversight of capital markets and correspondent lending , reporting directly to chairman and CEO Jay Bray.

Lending 377

Lending Finance Equity Mortgages 377

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 409

Lending Finance Banks Equity 409

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 384

Equity Loans Lending Banks 384

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. Reverse mortgages have been part of our lending solutions toolkit since our founding,” she says.

Finance 380

Finance Mortgages Lending Equity 380

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

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. Presented by: Sutherland.

Lending 441

Lending Banks Loan Officer Loans 441

Housing Wire

MARCH 11, 2022

Current buzzwords in the mortgage industry include affordable, underserved, accessible and equity. With the increasing regulatory focus on expanding affordable lending programs, mortgage lenders need to have a plan to serve the underserved. Finding the ‘why’. Where the rubber meets the roadblock.

Lending 382

Lending Loans Mortgages Industrial 382

Housing Wire

FEBRUARY 21, 2023

Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. FOA announced its intention to exit the forward mortgage originations business in late 2022 by winding down the operations of Finance of America Mortgage.

Commercial 368

Commercial Lending Finance Title 368

Housing Wire

MARCH 19, 2024

The bank will rely on ICE’s loan origination and servicing platforms, Encompass and MSP , to handle both its first-lien and home equity products. It can be used as a channel for mortgage holders to seek assistance in times of distress, or as a platform for lenders to advertise opportunities for equity-based loans or refinancing. “At

Technology 421

Technology Banks Mortgages Equity 421

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The comprehensive MSP servicing system supports all areas of loan servicing for both first mortgages and home equity products.

Lending 410

Lending Bankruptcy Equity Loans 410

Housing Wire

APRIL 25, 2024

Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering by HousingWire on Monday, April 21, 2024. We believe there’s a significant opportunity to bring home equity for retirement into the mainstream.” Obviously, it’s hard to move right now, but people do have a lot of equity,” she said. “So,

Mortgages 382

Mortgages Finance Equity Lending 382

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 429

Mortgages Finance Lending Equity 429

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.

Investor 421

Investor Bankruptcy Finance Equity 421

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

Equity 369

Equity Finance Loans Development 369

Housing Wire

APRIL 2, 2021

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. Led by CEO Patricia Cook and founding chairman Brian Libman, Finance of America has been awfully busy ahead of the merger and IPO. Blackstone Group will retain a 70% ownership stake in the lender-and-servicer.

Finance 341

Finance Closing Investor Mortgages 341

Housing Wire

FEBRUARY 21, 2024

The industry side of the board includes Eddy Perez, CEO of Equity Prime Mortgage (EPM) ; Phil Shoemaker , CEO of The Loan Store ; Chris Vinson, CEO of Windsor Mortgage ; and Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group (PRMG).

Lending 410

Lending Finance Loans Mortgages 410

Housing Wire

NOVEMBER 21, 2023

In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well. The group will be branded as Shamrock, Powered by CMG Home Loans. year over year.

Loan Officer 418

Loan Officer Lending Loans Finance 418

Housing Wire

JULY 14, 2022

As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. Older Americans are sitting on a record $10 trillion in home equity.

Equity 370

Equity Mortgages Lending As-is 370

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 413

Banks Lending Loans Finance 413

Housing Wire

NOVEMBER 7, 2023

The proposal would make it more expensive for large banks to hold, sell or service mortgages, reinforcing their now decade-long retreat from mortgage lending. Banks would be unable to improve the economics of mortgage lending by transferring the risk to a third party, a common practice in the mortgage industry.

Banks 450

Banks Mortgages Marketing Lending 450

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates.

Renovation 384

Renovation Fixed-rate mortgage Equity Finance 384

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Equity 358

Equity Lending Finance Loans 358

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. on average — compared to the average interest rates for home purchase or home equity loans.

Loans 378

Loans Lending Finance Renovation 378

Housing Wire

APRIL 18, 2024

Return to a ‘task force’ The original task force was co-founded in 2012 by Giordano and Security One Lending ’s Torrey Larsen. Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. That’s what we want to continue to do.”

Equity 427

Equity Loan Officer Mortgages Industrial 427

Housing Wire

NOVEMBER 2, 2023

Creative solutions meant to help renters become homeowners and let homeowners tap into their equity without taking on additional debt began to spring up like the California wildflowers I hope last through the fall (is there a fall season in California?). The problem with this process has been complexity and access to lending products.

Purchase and sale agreement 403

Purchase and sale agreement Marketing Equity Finance 403

Housing Wire

FEBRUARY 2, 2024

Department of Housing and Urban Development (HUD) is not reducing its oversight of the housing finance ecosystem, the notice said. With application for all FHA Title I and Title II programs, this rule encompasses both forward mortgage lending and the FHA-sponsored Home Equity Conversion Mortgage (HECM) program.

Mortgages 441

Mortgages Title Loans Lending 441

Housing Wire

OCTOBER 2, 2023

Equity Prime Mortgage (EPM), which shifted to the TPO business after exiting its retail channel in the fall, has embarked on a new chapter. When retail loan originators visit the website, LOs are asked to fill out their names, contact information and comments or questions about wholesale lending. About 16.8%

Loan Officer 410

Loan Officer Lending Loans Equity 410

Housing Wire

FEBRUARY 5, 2024

Under such a scenario, more than half would be homeowners who financed in 2023, with less than 10% coming from 2022-vintage loans. Equity levels Mortgage holders ended 2023 with $16 trillion in equity, the highest year-end total on record, and up $1.6 million to 3.8 trillion, or 11%, compared to the end of 2022.

Debt-to-income ratio 458

Debt-to-income ratio Marketing Equity Loans 458

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”. That was good for no.

Closing 485

Closing Lending Banks Equity 485