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. In return, Hometap receives an agreed-up percentage of the sale price or current appraised value. “We

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Housing Wire

NOVEMBER 10, 2023

While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. But it’s not all grim news.

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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.

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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. Equity Unlocker is currently available in Florida, New York and Washington state.

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Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads.

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Housing Wire

MAY 14, 2024

Steve Resch, vice president of retirement strategies at leading reverse mortgage industry lender Finance of America , knows a lot about the intersection between the interests of financial planning professionals and reverse mortgage industry members. And I’m curious how this combines with what you do for Finance of America.

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Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. Launched in 2021, Splitero’s main focus is on home equity investments (HEI), which differs from home equity lines of credit (HELOC). Clients must retain a stake of at least 20% in their homes.

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Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S.

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Housing Wire

JULY 12, 2022

San Francisco-based Unison is extending its reach in the heartland by expanding its shared-equity loan program to homeowners in Nebraska. billion in equity-sharing agreements with some 9,000 homeowners across 29 states and the District of Columbia. Prioritizing home equity solutions in a rising rate environment.

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Housing Wire

MAY 17, 2024

The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024 term. Scarpati expressed excitement for his new role.

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Housing Wire

JANUARY 24, 2023

California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means. Homeowners can convert their equity to cash by selling their homes to EasyKnock and staying on as renters.

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Housing Wire

FEBRUARY 7, 2022

San Francisco-based fintech firm Unison plans several securitization deals to market in 2022, with private label offerings backed by home-equity assets. Unison, through an REA contract, advances the homeowner a portion of the equity in the property in exchange for a lien position and a share of the home’s future appreciation.

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Housing Wire

OCTOBER 31, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach reduced employee headcount by at least 20 this month as the industry struggles to stay afloat amid mortgage lenders rightsizing during one of the most challenging times. Sales Boomerang and Mortgage Coach declined to comment on the size and reason for the layoffs.

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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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Inman

JANUARY 30, 2024

Volatile interest rates have trapped over 9 million homeowners from accessing their home equity, with limited refinancing or loan options. The white paper proposes sale-leaseback, highlighting EasyKnock's Sell & Stay program as a flexible solution, while fintech leaders explore broader alternatives for equitable housing finance.

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Housing Wire

FEBRUARY 7, 2024

Census Bureau data on housing inventory estimates details two cycles this decade – the onset of the pandemic and the rise of interest rates – that have been catastrophic for the nation’s for-sale housing inventory. The number of owner-occupied homes skyrocketed, quickly depleting the number of vacant for-sale homes.

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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.

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Housing Wire

MAY 15, 2024

The sale is expected to close in the third quarter of 2024. market share, according to Inside Mortgage Finance (IMF) estimates. On March 6, the company received $1 billion in equity investment , led by former U.S. Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital.

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Housing Wire

SEPTEMBER 14, 2021

Point, a shared equity reverse mortgage firm that gives homeowners the ability to sell a small fraction of their equity, recently announced that it has raised over $1 billion in new capital commitments from real estate and mortgage-backed securities (MBS) investors. Redwood is excited to partner with Point.”.

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HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

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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?). This is done through using the equity on your existing home as a down payment.

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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.

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Housing Wire

APRIL 30, 2024

Gain-on-sale margins marginally recovered to 1.29% in the first quarter, up from 1.23% in the previous quarter. Chief financial officer Nick Santoro told analysts the company had a “strong momentum” on non-agency products and home equity. Meanwhile, the origination business notched a $42.3 million in pretax income in the first quarter.

Mortgages 386

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Housing Wire

NOVEMBER 7, 2023

And yet, it would also undermine the institutions that will need to fill the vacuum, independent mortgage banks, by making it more expensive for banks to provide them financing or a market for their primary asset, mortgage-servicing rights. There is a lot here to unpack, so we’ll take it piece by piece.

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HomeLight

NOVEMBER 29, 2023

In a market where inventory is limited, and prices are high, syncing the timing and finances of both transactions becomes a significant challenge. You can then make a strong offer on your next home with no home sale contingency. But there’s an alternative that might just be the solution you’re looking for: a bridge loan.

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Housing Wire

AUGUST 30, 2023

Freddie Mac on Wednesday announced that company veteran Peter Lillestolen will serve as vice president, production and sales of Targeted Affordable Housing (TAH) at Freddie Mac Multifamily. Most recently, Lillestolen led the Low Income Housing Tax Credit (LIHTC) Equity and Seniors Housing businesses while also co-leading TAH.

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HomeLight

DECEMBER 7, 2023

Enter the bridge loan – a short-term financing option. Bridge loans allow you to purchase a new home before selling your current residence, alleviating pressure and uncertainty while unlocking the equity in your current home. You can then make a strong offer on your next home with no home sale contingency.

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HomeLight

NOVEMBER 30, 2023

This short-term financing option is designed to bridge the gap, allowing you to purchase your new home in New Jersey before you’ve sold your old one. You can then make a strong offer on your next home with no home sale contingency. The key here is leveraging the equity in your existing home.

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Equity Loans Debt-to-income ratio Home sale contingency 102

HomeLight

NOVEMBER 30, 2023

In a market where inventory is limited, and prices are high, syncing the timing and finances of both transactions becomes a significant challenge. You can then make a strong offer on your next home with no home sale contingency. But there’s an alternative that might just be the solution you’re looking for: a bridge loan.

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Equity Loans Debt-to-income ratio Home sale contingency 95

HomeLight

DECEMBER 15, 2023

Lining up the sale of your current home while trying to close the deal on a new one, particularly in a competitive market where inventory is low, may feel impossible. A bridge loan is a short-term financing solution, giving you the necessary income to purchase a new home, even before you’ve sold your current one.

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Equity Loans Debt-to-income ratio Home sale contingency 97

Housing Wire

OCTOBER 31, 2023

The finances at nonbank mortgage companies will remain under pressure in 2024, despite some relief in mortgage rates , according to a new Fitch Ratings report. The data includes Rocket Mortgage , United Financial Mortgage , Pennymac Financial Services (PFSI), loanDepot , Finance of America and Pennymac Mortgage Investment Trust.

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HomeLight

NOVEMBER 29, 2023

Especially in today’s market, where inventory levels are low, and prices are soaring, aligning the timing and finances of both transactions can be particularly challenging. You can then make a strong offer on your next home with no home sale contingency. Bridge loans are sometimes referred to as gap financing or swing loans.

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Equity Loans Debt-to-income ratio Home sale contingency 98

HomeLight

DECEMBER 13, 2023

Balancing limited time and finances may feel impossible in a market where inventory is tight and prices continue to rise. Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home.

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HomeLight

NOVEMBER 29, 2023

A bridge loan is a short-term financing solution designed to bridge the gap, allowing you to purchase your new Hawaiian dream home before you’ve sold your current one. You can then make a strong offer on your next home with no home sale contingency. But what if there was a smoother way to transition?

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HomeLight

NOVEMBER 30, 2023

Selling your home in Missouri and buying a new one often involves a tricky dance of timing and finances. Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home.

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Housing Wire

NOVEMBER 21, 2023

Shamrock ‘s chief growth officer Kurt Noyce and president Rod Correia will lead the team of sales and support professionals, which will remain in their current locations. Its portfolio includes construction to perm, renovation financing, builder programs and home equity line of credits , among others. year over year.

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HomeLight

JANUARY 30, 2024

It’s a common dilemma: you must sell to finance your next home, but where do you live? This short-term financing tool could be the very thing you need to bridge the gap, allowing you to purchase your new Denver home before you’ve sold your old one. But a potential solution to this buy-sell conundrum is a bridge loan.

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Equity Loans Debt-to-income ratio Home sale contingency 94