Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Equity 421

Equity Purchase and sale agreement Marketing Lending 421

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Equity 449

Equity Lending Banks Loans 449

Housing Wire

FEBRUARY 21, 2024

An affiliate of Paceline Equity Partners LLC , a private equity manager based in Texas, completed a debt investment in a subsidiary of Constellation Software Inc. trillion in mortgage locking and trading transactions per year. Optimal Blue integrates with all the loan origination systems (LOSs).

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Equity Loans Mortgages Finance 403

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing.

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Finance Construction Loans Renovation 485

Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

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Technology Banks Mortgages Equity 421

Housing Wire

APRIL 29, 2024

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A

Mortgages 421

Mortgages Equity Loans Closing 421

Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Kim: There are a handful of home equity investment firms in the market. Based on the notion that far too many U.S.

Equity 428

Equity Marketing Investor Loans 428

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. According to Nierenberg, the company hedged most of the of its mortgage servicing rights (MSRs) risk in the first quarter, creating stability and book value on a forward basis. On Tuesday, Rithm announced a $261.6 million in pretax income.

Mortgages 408

Mortgages Equity Principal Finance 408

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

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Equity Lending Title search Title 384

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA

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VA loan Loans Loan Officer FHA loan 409

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

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. “The status quo is broken,” Garg said.

Equity 384

Equity Pre-approval Loans Finance 384

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. The lender has been pivoting to purchase mortgages and has been introducing products to court more borrowers.

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Loans Mortgages Land Finance 397

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 431

Mortgages Finance Lending Equity 431

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations.

Mortgages 441

Mortgages Title Loans Lending 441

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% Loan production in the home equity arena was $1.8 from the $3.9

Mortgages 421

Mortgages Banks Equity Commercial 421

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

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI).

Mortgages 431

Mortgages Loans Equity Principal 431

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. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

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Residential Lending Banks Mortgages 479

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

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. I was wondering if you guys could explain reverse mortgages,” the listener asked the group.

Mortgages 432

Mortgages Equity Title Loans 432

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. HECM for Purchase (H4P) loans dropped by 6.2%

Mortgages 427

Mortgages Equity Loans Industrial 427

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgages 441

Mortgages Brokerage Loan Officer Lending 441

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership. Today, roughly $1.5

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Finance Equity Mortgages Principal 370

Housing Wire

MARCH 29, 2024

A passion for technology led her to work in the fintech and blockchain spaces, and she has now turned her attention to the senior finance space by founding a company called Graceful Finance. naturally exposing her more closely to the American reverse mortgage industry. But the problem is they’re cash-flow poor in relative terms.”

Mortgages 458

Mortgages Finance Loan Officer Equity 458

Housing Wire

NOVEMBER 8, 2021

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. 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.

Finance 383

Finance Mortgages Lending Equity 383

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgages 479

Mortgages FHA loan Equity Loans 479

Housing Wire

NOVEMBER 7, 2023

The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market. 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.

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Banks Mortgages Marketing Lending 450

Housing Wire

NOVEMBER 1, 2023

Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. In September, Redwood launched its in-house home equity investment (HEI) origination platform called Aspire. During a phone interview with HousingWire on Oct.

Equity 421

Equity Investor Loan Officer Finance 421

Housing Wire

JUNE 8, 2023

Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline recorded since early 2012, according to CoreLogic ’s Homeowner Equity Report (HER). properties.

Equity 370

Equity Mortgages Loans Closing 370

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. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 383

Loans Lending Finance Renovation 383

Housing Wire

DECEMBER 28, 2023

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday. The 15-year fixed-rate mortgage averaged 5.93% this week, down from 6.95% one week ago.

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Fixed-rate mortgage Mortgages Finance Equity 491

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. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

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Lending Banks Mortgages Loan Officer 479

Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived. Customer experience.

Equity 421

Equity Lending Closing costs Mortgages 421

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization.

Mortgages 421

Mortgages Equity Lending Industrial 421

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 It also had $84.3

Mortgages 440

Mortgages Banks Marketing Commercial 440

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgages 426

Mortgages VA loan FHA loan Lending 426