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 397

Marketing Equity Principal Mortgages 397

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 450

Technology Development Title Lending 450

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

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. The team co-founded several businesses, such as the fintech Enova, real estate investment trusts (REIT) Pangea Properties and New Lake , and the online lending company Avant. Chicago-based mortgage originator Interfirst Mortgage Co.

Mortgages 402

Mortgages Investor Loan Officer Principal 402

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.

Investor 381

Investor Sales Mortgages Loan Officer 381

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 508

Banks Lending Loans Principal 508

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. Mr. Cooper had 4.1 ” Acquisition mode for Mr. .”

Principal 384

Principal Banks Equity Loans 384

Housing Wire

JUNE 28, 2023

Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to its return on equity with an estimated 10% increase to operating earnings in the first year. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. Mr. Cooper had 4.1

Principal 359

Principal Equity Loans Mortgages 359

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. The consumer watchdog noted that the pace of originations in 2021 slowed to 2.4%

Marketing 370

Marketing Loans Principal Mortgages 370

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 479

Closing Principal Lending Loans 479

Housing Wire

NOVEMBER 17, 2022

Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” According to John Bosley, president of mortgage lending at Planet Home Lending , the idea that 95% of firms will qualify for the new risk-based capital rule is a “little bit disingenuous.”

Marketing 421

Marketing Lending Loans Principal 421

Housing Wire

JANUARY 30, 2024

“[Since Covid], the IMB [independent mortgage bank] group has retained a lot of MSRs that they had not retained historically as a group,” said Nick Smith, founder, managing partner and CEO of private-equity firm Rice Park Capital Management (RPCM), an active MSR buyer.

Marketing 409

Marketing Principal Banks Loans 409

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 125

Closing Equity Principal Short sale 125

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 410

Equity Fixed-rate mortgage Principal Mortgages 410

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 104

Equity Finance Loans Closing costs 104

Housing Wire

FEBRUARY 13, 2023

In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. among others. In 2020, the lender shuttered its non-QM operation and laid off workers, but made a return in 2021 and issued a $146.2 million security backed by non-QM mortgages.

Mortgages 384

Mortgages Principal Banks Equity 384

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 70

Closing Equity Principal Short sale 70

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 68

Closing Equity Principal Short sale 68

Housing Wire

FEBRUARY 10, 2023

The performance was impacted by a mark-to-market of $58 million, adjustments related to severance and property consolidation of $23 million, and equity investment losses of $10 million. The direct-to-consumer channel was responsible for 60% of total originations from September to December, with the remainder coming via correspondent lending.

Principal 369

Principal Mortgages Lending Equity 369

Housing Wire

JULY 22, 2022

The examples, all within about a month, illustrate a non-QM lending world in disarray, turned upside down in recent months as originators battle an unassailable force over which they have no control: fast-rising interest rates. recalled Keith Lind, CEO of Acra Lending, a leading non-QM lender. “Of Of course we’re not. “…If

Lending 384

Lending Banks Bankruptcy Loans 384

Keeping Current Matters

APRIL 12, 2021

Lending institutions don’t want the headaches of managing foreclosed properties. Today, almost all lending institutions are working with their borrowers. 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 253

Equity Banks Loans Lending 253

Realty Biz

AUGUST 12, 2023

Principal : The amount of money you borrowed to buy the home. Over time, you'll pay down the principal and interest. Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Fixed-rate mortgage 97

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. You typically can pay extra toward the principal in small chunks without a penalty fee, but it’s always wise to check with your lender whether your mortgage includes these fees.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

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. Home equity loan. Cash-out refinance.

Equity 76

Equity Loans Closing costs Principal 76

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. Like a traditional ARM, an interest-only mortgage has a period—commonly three, five, seven, or 10 years—during which you’re paying only the interest accrued on that principal.

Loans 122

Loans Mortgages Principal Equity 122

Housing Wire

JULY 26, 2023

million customers and $882 billion in unpaid principal balance (UPB) at the end of June, compared to $853 billion at the end of March. Mr. Cooper had strong second-quarter earnings, said a team of equity analysts at Jeffries. Mr. Cooper had 4.3 billion in Q2 2023, compared to $1.3 billion in Q1 2023, due to more rational pricing.

Loans 370

Loans Principal Banks Closing 370

Housing Wire

JUNE 15, 2022

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, created in direct response to the financial crisis, requires lenders to check a buyer’s ability to repay (ATR), which protects them from predatory lending practices. Not a one-size fits all”. million and under. “As

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

NOVEMBER 3, 2022

The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor. To better illustrate what is taking place in the mortgage-lending industry, Sterling’s Ludden provided mortgage-origination estimates for the 1,000 largest IMBs broken down by production tranches.

Banks 397

Banks Mortgages Loans Equity 397

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 397

Sales Mortgages Branding Principal 397

Housing Wire

MARCH 9, 2023

billion in unpaid principal balance as of December 31, 2022, down 5.8% It also had a gain in December 2022 related to the sale of its equity interests in HPAM and its wholly-owned mortgage servicing subsidiary HPMAC. Improving liquidity Home Point’s servicing portfolio totaled $88.7 quarter-over-quarter and 31% year-over-year.

Principal 370

Principal Mortgages Equity Sales 370

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

Marketing 384

Marketing Debt-to-income ratio Loans Mortgages 384

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. Knock this year shifted into lending ). Patrick Conroy, principal at Washington, D.C.-based

Title 351

Title Branding Principal Loans 351

Housing Wire

FEBRUARY 8, 2022

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. Another possibility consisted of changing rates, principal balance or length of the mortgage via a loan modi?

Loans 370

Loans Pre-approval Mortgages Principal 370

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 108

Marketing Principal Mortgages Real-estate owned 108

Housing Wire

APRIL 24, 2024

Additionally, its return on tangible common equity rose to 14.5% The company has started the year with excellent momentum, including return on tangible common equity rising to 14.5%,” Chairman and CEO Jay Bray said in a statement. billion in unpaid principal balance (UPB). in Q1 2024, up from 12.5% in the fourth quarter of 2023.

Equity 395

Equity Lending Principal Technology 395

Housing Wire

JULY 28, 2021

The number of HECMs in servicing portfolios has been trending downward, basically, ever since the 2017 principal limit factor (PLF) changes. Most of their wealth is generally tied up in their home equity.”. But, when we really start to drill into it a little bit, we’re seeing both of the numbers involved here move against us.

Mortgages 295

Mortgages Loans Equity Industrial 295

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. That doesn’t rule out that the banking behemoth might still have a such a deal in the works, however. of the entire $8.4

Banks 384

Banks Loans Mortgages Sales 384