Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

Marketing

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgages

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. and former U.S.

Mortgages

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. Yet staggeringly few are aware of its existence. What is reverse purchase financing?

Finance

Housing Wire

AUGUST 6, 2024

Hayes told analysts that the “higher gain-on-sale margin benefited from the reversal of the loss provision, reflecting the strong credit performance of our historical production vintages, as well as growing contributions of higher-margin home equity products.” Purchase loans comprised 72% of loanDepot’s total volume in Q2 2024.

Purchase and sale agreement

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

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

Housing Wire

JUNE 5, 2025

Tools also allow for quick preapproval by calculating the buyers full monthly housing payment including principal, interest, taxes and insurance and matching it to homes within their budget. Tools for real estate professionals For agents and loan officers, Afordal offers customer insights and prioritization tools.

VA loan

Housing Wire

MAY 1, 2023

Name Job Title Company Name Alayna Gardner Director of Sales and Marketing LodeStar Software Solutions Alex Boand Managing Director of Correspondent Group Sales Pennymac Alison Flinn Chief of Staff Development Amherst Amanda Morrow Director of Investor Relations Atlantic Bay Mortgage Company Andres Munar Owner and President Co/LAB Lending Andrew Jewett (..)

Loan Officer

Housing Wire

AUGUST 12, 2024

“When brokers work with American Senior Lending Wholesale Division, they benefit from our internal account executives, who are mostly licensed loan officers. In the last year, we’ve brought on a few principal agent partners, which was a good experience that helped us grow from just [third-party origination (TPO)].”

Lending

Housing Wire

DECEMBER 11, 2023

We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There is a lot more inquiry for home equity line credit. We’ve already seen there is more of a focus on home equity lines of credit and cash out refinances.

Mortgages

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. His tangible net worth ratio (a proxy of how much equity you have relative to your total assets) is just under 30%.

Loan Officer

Housing Wire

MARCH 20, 2024

I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. “And

Development

Housing Wire

MAY 16, 2022

million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first quarter of 2022. UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 million) and Homepoint ($11.9 UWM had $303.4

Principal

Housing Wire

NOVEMBER 16, 2022

If you deliver 5,000 homes a year, that means you had 50,000 people looking for a house walk across your platform who are likely prequalified by your loan officers, and you … have a relationship with them. loan officers] in pods.’”. “The rest of those people are still looking for a house. “If

Banks

Housing Wire

JUNE 15, 2022

Credit Union of Southern California started offering interest-only ARMs last month, in which the borrower delays paying down any principal for a period of time. Available as purchase or refinance loans, the rates are offered in five- and seven-year terms for primary residences $3 million and under, or for second homes for $2.5

Fixed-rate mortgage

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. trillion unpaid principal balance (UPB). Cooper had become the largest U.S. primary servicer—those companies with direct consumer interactions, regardless of who owns the servicing rights—with a $1.2

Mortgages

Housing Wire

JUNE 15, 2022

. “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. ” At Spring EQ, demand for home equity loans continues to grow as home prices still increase, and borrowers struggle financially due to inflation.

Mortgages

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

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

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity

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

Calculated Risk Real Estate

JUNE 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

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

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

HomeLight

SEPTEMBER 30, 2020

Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. I have done many refinances over my career that have saved homeowners hundreds of dollars per month and tens of thousands over the life of the loan.”. Have the loan underwritten and go through closing again. Get the home appraised.

Mortgages

Calculated Risk Real Estate

SEPTEMBER 12, 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. trillion in the second quarter of 2024.

Closing

HomeLight

OCTOBER 11, 2021

In addition to your mortgage loan interest and principal, lenders also collect money each month that they put into escrow to pay your homeowners insurance. She advises having a loan officer run an estimate based on your home budget when deciding where to look for homes. But with a FHA loan, it’s not that simple.

FHA loan

HomeLight

AUGUST 31, 2021

PMI can be dropped when you reach 20% equity by paying down your loan principal. That’s when you talk to a loan officer,” Helali insists. He says a loan officer can give guidance on what type of loan — and the amount — you may qualify for based on your needs and qualifications. Ask questions!”

FHA loan

HomeLight

JUNE 30, 2021

Ah, if only it were as simple as dividing the purchase price by the length of your loan term and calling it a day… Here’s what you need to be aware of when calculating a mortgage payment. Principal and interest. The majority of your mortgage payment will go toward principal and interest. Taxes and insurance.

Mortgages

Calculated Risk Real Estate

JUNE 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. year over year. year over year.

Closing

Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Department of Agriculture (USDA) or U.S.

Debt-to-income ratio

HomeLight

OCTOBER 5, 2020

With a lower down payment, they’re lending more money, and you have less equity in the house. If home values were to suddenly slide, and you defaulted on your mortgage loan, they could end up with a higher mortgage balance due than the home is currently worth. What does this mean?

Mortgages

HomeLight

JUNE 22, 2023

She advises that the sooner you contact an agent, the sooner they can recommend a qualified loan officer that can advise you on your financial situations and steps you might take to save a downpayment or fix issues with your credit which could take up to a year and a half to repair. Q: What’s included in my monthly mortgage payment?

Debt-to-income ratio

HomeLight

JANUARY 31, 2022

Different banks and lenders have different ways of calculating this, but you can safely calculate your mortgage insurance rate to be somewhere between 0.25% and 1% of your mortgage loan amount annually. For FHA loans, however, the mortgage insurance typically lasts for the lifetime of the loan, unless you make a down payment of 10% or higher.

Loans

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. and 1% of your loan amount, annually. to 1% of the loan amount annually. Know your loan types.

Closing costs

HomeLight

MAY 31, 2021

These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? There are several types of home loans out there, and you’ll want to ask any potential lender which ones they offer, as not all lenders support all loan types.

Mortgages