Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 412

Mortgages Seller concession Principal Loans 412

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). to 358 loans).

Mortgages 411

Mortgages Loans Equity Principal 411

Housing Wire

JANUARY 17, 2024

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. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 457

Finance Seller concession Loan Officer Loans 457

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 370

Sales Mortgages Loans Loan Officer 370

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 423

Mortgages Principal Loans Loan Officer 423

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 392

Marketing Principal Banks Loans 392

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. trillion in 2021.

Equity 397

Equity Fixed-rate mortgage Principal Mortgages 397

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 444

Mortgages Bankruptcy Principal Finance 444

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. In January, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 397

Sales Mortgages Loan Officer Principal 397

Housing Wire

FEBRUARY 3, 2022

MSRs gain value as interest rates rise, in part because upward-bound rates cause mortgage refinancing to ebb, which slows prepayment speeds on mortgages — increasing the effective long-term yield of the servicing rights tied to those loans. In fact, the largest MSR deal of the month for Incenter, involving a loan portfolio valued at $23.7

Purchase and sale agreement 369

Purchase and sale agreement Marketing Equity Banks 369

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. It’s also made a push to hire teachers and first responders to be loan officers. and former U.S.

Mortgages 346

Mortgages Investor Loan Officer Principal 346

Housing Wire

OCTOBER 25, 2023

The firm also had a $39 million loss associated with equity investments primarily related to the sale of its title business in 2021. A team of equity analysts at Jefferies said the third-quarter earnings show the core fundamentals at Mr. Cooper are “solid and improving.” “The The correspondent channel fell to $1.7 billion in Q2 2023.

Purchase and sale agreement 395

Purchase and sale agreement Equity Principal Banks 395

Housing Wire

SEPTEMBER 19, 2022

A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. Cash-out refis continued to increase in 2021, with borrowers taking advantage of surging home prices and record levels of home equity. Black borrowers’ share of home purchase loans increased to 7.9%

Marketing 369

Marketing Loans Principal Mortgages 369

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams. LLR Partners, which led a $26.5

Investor 338

Investor Sales Mortgages Loan Officer 338

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 424

Lending Bankruptcy Mortgages Principal 424

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 439

Mortgages Banks Loans Industrial 439

Housing Wire

AUGUST 1, 2023

Through their visionary leadership, they have propelled the industry forward, driving change, fostering inclusivity and taking the reigns as female executives in a traditionally male industry.

Lending 370

Lending Title Mortgages Equity 370

Housing Wire

JANUARY 5, 2022

Reverse Mortgage Funding, LLC (RMF) has acquired a portfolio of mortgage servicing rights (MSRs) and other assets from industry-leading lender American Advisors Group (AAG), which consists of more than 75,000 loans totaling $12.1 billion in unpaid principal balance (UPB).

Mortgages 393

Mortgages Principal Loans Industrial 393

Housing Wire

JUNE 3, 2021

Job losses in the service industry sector severely impacted renters, while those who have been able to maintain their jobs remotely have fared much better. Presented by: Computershare Loan Services. As of Freddie Mac’s most recent report , there are 1,154 securitized loans in forbearance, representing about 2.1%

Principal 479

Principal Finance Loans Equity 479

Housing Wire

MAY 6, 2022

The firm’s earnings were driven by its servicing portfolio and about $520 billion in unpaid principal balance, said David Spector, chairman and chief executive officer of PennyMac in an earnings call. billion in unpaid principal balance, down 36% from the previous quarter and 32% from the first quarter of 2021. million, down from $106.5

Principal 365

Principal Loans Technology Mortgages 365

Housing Wire

JANUARY 12, 2024

Some companies in this space are better than others, but overall, the industry can give itself at least an A- in this category. Principal among these are: Invested capital “requires” the highest return. Develop “community pools” and shared equity models to break the dependence on intransigent and predatory financial institutions.

Finance 408

Finance Principal Residential Development 408

Housing Wire

AUGUST 9, 2022

” In a conference call with analysts, loanDepot executives said the company plans to fund the remaining wholesale pipeline of approximately $1 billion in loans by the end of October. As has been the case with other lenders, loan origination volume overall dropped at loanDepot. million from the previous quarter.

Closing 479

Closing Principal Lending Loans 479

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgages 367

Mortgages VA loan Loans Technology 367

Housing Wire

NOVEMBER 17, 2022

Mortgage industry executives are echoing the sentiment that Ginnie Mae’s risk-based capital requirement is currently the main concern for companies holding mortgage servicing rights (MSR). According to industry leaders, the rule can force a sell-off wave, reduce values and put some lenders and services in a difficult spot.

Marketing 413

Marketing Lending Loans Principal 413

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Elzen has more than 20 years of experience in the financial services industry. Cooper Group Inc., million in total compensation in 2021.

Banks 396

Banks Principal Finance Equity 396

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.

Equity 103

Equity Finance Loans Closing costs 103

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . .

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

NOVEMBER 3, 2022

We have a number of buy-side and sell-side clients and an even larger stable of industry owners and CEOs that we speak to regularly,” Ludden said. The outlook is not good for large cohorts of the industry.”. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. Wells Fargo’s agency MSR portfolio — including Fannie Mae, Freddie Mac and Ginnie Mae loan servicing — stood at $641.9

Marketing 383

Marketing Principal Banks Loans 383

Housing Wire

MAY 10, 2022

Hsieh noted the environment of shrinking market size and surging mortgage rates “may turn out to be one of the most challenging” that the industry experienced, which were reflected in the firm’s first-quarter earnings. . Loan origination volume dropped 26% to $21.6 Rate lock volume in the first three months of 2022 dropped 13.7%

Principal 410

Principal Loans Equity Mortgages 410

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. “Rates are materially, definitely increasing faster than we were anticipating,” Saket Nigam, senior vice president of capital markets at Spring EQ , a home equity lender, said. The markets have been shaken to the core.

Mortgages 384

Mortgages Loans Investor Equity 384

Keeping Current Matters

JANUARY 13, 2021

Yanling Mayer, Principal Economist at CoreLogic , recently revealed : “A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180+ days past due.”. Though 29.4% What are the experts saying?

Equity 242

Equity Short sale Principal Loans 242

Keeping Current Matters

MAY 6, 2021

If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. Assuming a buyer purchases a $325,000 home this year with a 30-year fixed-rate loan at 3% after making a 10% down payment, their monthly principal and interest payment would be $1,233.

Principal 280

Principal Mortgages Equity Loans 280

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 363

Marketing Debt-to-income ratio Loans Mortgages 363

Housing Wire

JULY 28, 2021

Other factors working against the industry include the amount of loans being assigned to the Federal Housing Administration (FHA), even as the number of age-eligible borrowers continues to increase in an oft-mentioned demographic shift. “But, So, for both of those reasons, we’re actually seeing penetration go down.”.

Mortgages 295

Mortgages Loans Equity Industrial 295

Keeping Current Matters

APRIL 12, 2021

6% paid off their loan in full. Home retention options include temporary forbearances, repayment plans, loan modifications, or partial loan deferrals. 5% were granted a loan deferral where a borrower does not have to pay the lender interest or principal on a loan for an agreed-to period of time.

Equity 254

Equity Banks Loans Lending 254