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 388

Sales Mortgages Loan Officer Principal 388

Housing Wire

JANUARY 30, 2024

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 362

Marketing Principal Banks Loans 362

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 365

Marketing Loans Principal Mortgages 365

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 312

Mortgages Investor Loan Officer Principal 312

Housing Wire

MARCH 6, 2023

of the median household income to make the monthly principal and interest payments on the average home purchase. Both purchase and refinance lending are expected to reach their floor in the first quarter of 2023 before trending modestly higher through the year, Black Knight projected. With 30-year rates at 6.5%

Marketing 390

Marketing Equity Principal Mortgages 390

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 306

Investor Sales Mortgages Loan Officer 306

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Cooper had 4.1 But the servicing portfolio is expected to grow.

Principal 363

Principal Banks Equity Loans 363

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 459

Banks Lending Loans Principal 459

Housing Wire

JULY 22, 2022

The bank calls out 16 non-QM lenders in the text message, indicating it is ramping up scrutiny of its loan reviews, prior to advancing warehouse funding. The Flagstar text message leaked to the media in mid-July confirmed, going forward, funding advances for non-QM mortgages will require advance approval by the lender’s warehouse lending arm.

Lending 375

Lending Banks Bankruptcy Loans 375

Housing Wire

NOVEMBER 17, 2022

Government and conforming loans held for sale would have a 20% risk weight. Other loans held for sale would have a 50% risk weight. Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” ” Executives refute this explanation.

Marketing 388

Marketing Lending Loans Principal 388

Housing Wire

JUNE 28, 2023

According to Mr. Cooper, the offer is conditioned to certain conditions, including consent from state mortgage regulators, the Government Mortgage Association , the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association. million customers and $853 billion in unpaid principal balance (UPB) at the end of March.

Principal 267

Principal Equity Loans Mortgages 267

Housing Wire

AUGUST 9, 2022

. “We are exiting our wholesale channel consistent with our strategy of becoming a more purpose-driven organization with direct customer engagement throughout the entire lending process,” Frank Martell , president and chief executive officer of loanDepot, said in a news release.

Closing 471

Closing Principal Lending Loans 471

Realtor.com

APRIL 5, 2021

It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA.

Loans 122

Loans Mortgages Principal Equity 122

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 102

Equity Finance Loans Closing costs 102

Housing Wire

APRIL 8, 2021

When you make a mortgage payment, part of that money goes toward the principal balance. Should the property increase in value over time, then you, in turn, will have built up more equity. The equity built from owning a home can extend far beyond the homeowners themselves.

Equity 401

Equity Fixed-rate mortgage Principal Mortgages 401

Calculated Risk Real Estate

SEPTEMBER 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 124

Closing Equity Principal Short sale 124

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. . . Not a one-size fits all”.

Fixed-rate mortgage 366

Fixed-rate mortgage Mortgages Loans Loan Officer 366

Keeping Current Matters

APRIL 12, 2021

6% paid off their loan in full. Lending institutions don’t want the headaches of managing foreclosed properties. Home retention options include temporary forbearances, repayment plans, loan modifications, or partial loan deferrals. Today, almost all lending institutions are working with their borrowers.

Equity 255

Equity Banks Loans Lending 255

Calculated Risk Real Estate

MARCH 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. Mortgage debt is up $2.36

Closing 67

Closing Equity Principal Short sale 67

Calculated Risk Real Estate

DECEMBER 7, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 69

Closing Equity Principal Short sale 69

Housing Wire

JULY 26, 2023

The result included, among other things, a mark-to-market of $61 million, a cost related to the acquisition of Rushmore Loan Management Services of $6 million and a $1 million charge due to severance. million customers and $882 billion in unpaid principal balance (UPB) at the end of June, compared to $853 billion at the end of March.

Loans 347

Loans Principal Banks Closing 347

HomeLight

DECEMBER 27, 2023

Unlock Your Equity Faster With a Cash Offer Consider going through HomeLight’s Simple Sale platform to access the equity of your existing home quickly. Get your loan payoff amount to find out how much you still owe on your mortgage Most of the time, homeowners sell their house before paying their full mortgage.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Realty Biz

AUGUST 12, 2023

Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Principal : The amount of money you borrowed to buy the home. Over time, you'll pay down the principal and interest. Interest : The cost of borrowing money, expressed as a percentage of the loan amount.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

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 335

Marketing Debt-to-income ratio Loans Mortgages 335

Housing Wire

NOVEMBER 3, 2022

Purchase loans are simply harder to market and convert, harder to process, and they generate lower revenues and higher expenses.”. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor. The same downward production shift holds true on the high end of the loan-production scale.

Banks 393

Banks Mortgages Loans Equity 393

Realtor.com

OCTOBER 29, 2020

If you’re a homeowner, you have options that involve tapping into your home equity —the difference between what your home is worth and how much you owe on your mortgage. There are three main ways to tap into home equity, but sorting through those options can be confusing. The costs can range from 2% to 5% of your loan amount.

Equity 76

Equity Loans Closing costs Principal 76

Realty Biz

MAY 14, 2021

Getting a loan for your investment property can be tricky but it doesn’t have to be impossible. Read our blog for a simple guide on how to get your investment loan. Concept of loan with icons on wooden cubes. Below is a basic guide to understanding what it takes to get a loan to invest in real estate. Home equity.

Hard money loan 82

Hard money loan Loans Equity Banks 82

Housing Wire

FEBRUARY 8, 2022

We service their loans. Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. The company serves a $50 billion loan portfolio. We know who the borrowers are.

Loans 362

Loans Pre-approval Mortgages Principal 362

Housing Wire

FEBRUARY 1, 2023

It varies a little bit based on loan amount and interest rate but … a pretty good rule of thumb is a [2-1] buydown will typically cost the seller about 2.25 percentage points of the loan amount,” Nunziata said.

Marketing 404

Marketing FHA loan Loans Mortgages 404

Housing Wire

JANUARY 25, 2023

Wells Fargo officials have not commented on the rumors, so speculation is likely to persist over whether the lending giant is about to launch a potentially market-disrupting MSR offering. Wells Fargo also could simply allow the MSRs to run off its books as the loans being serviced expire. of the entire $8.4

Banks 353

Banks Loans Mortgages Sales 353

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. Reverse mortgage penetration remains stubbornly low. “But,

Mortgages 294

Mortgages Loans Equity Industrial 294

Housing Wire

JULY 7, 2021

The sale is expected to reduce Mr. Cooper’s overall servicing portfolio by $16 billion in unpaid principal balance (UPB), and will also decrease its balance sheet by approximately $5 billion in Home Equity Conversion Mortgage (HECM) servicing rights (MSRs) and other unspecified assets.

Sales 392

Sales Mortgages Branding Principal 392

Housing Wire

SEPTEMBER 10, 2020

Existing backers FirstMark , Navitas , Accomplice and Juxtapose also participated in the financing, which exactly doubles the New York-based startup’s total equity raised since its September 2017 inception to $138 million. And in July, it announced its formal launch of Orchard Home Loans. Knock this year shifted into lending ).

Title 252

Title Branding Principal Loans 252

Redfin

DECEMBER 15, 2023

While this might sound like a small difference, it can translate into substantial savings over time including lower monthly payments, paying off the mortgage quicker, and even allowing homeowners to tap into their home equity for other expenses. on a home in Tampa, FL, your monthly interest, and principal payment will be $1,812.

Fixed-rate mortgage 66

Fixed-rate mortgage Mortgages Title search Equity 66

Realty Biz

OCTOBER 18, 2022

Homeowners looking to tap into their equity by refinancing are seeing a national average 30-year refinance rate of 7.07% in mid-October. The data suggests refinancable home equity probably peaked in May. The housing market was so hot that lenders assumed appreciating values were the underlying security for the loans.

Mortgages 88

Mortgages Marketing Equity Loans 88

Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You’re on the hook for mortgage insurance for the life of the loan.

FHA loan 91

FHA loan Loans Inspection Renovation 91

Calculated Risk Real Estate

DECEMBER 13, 2023

A year ago, the payment on a $500,000 house, with a 20% down payment and 6.28% 30-year mortgage rates, would be around $2,471 for principal and interest. In December 2021, the payment on a $500,000 house, with a 20% down payment and 3.17% 30-year mortgage rates, would be around $1,728 for principal and interest.

Marketing 107

Marketing Principal Mortgages Real-estate owned 107