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Borrowers withdrew $63B in equity in Q2

Housing Wire

Homeowners withdrew $63 billion in equity in the second quarter of 2021, according to the latest numbers from Black Knight , the most in a single quarter in nearly 15 years. There is still $9 trillion in tappable equity, a 37% increase year-over-year.

Equity 374

Homeowners gain over $620 billion in equity in second quarter

Housing Wire

homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic.

Equity 407
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FHFA requires GSEs to submit annual equity plans

Housing Wire

The Federal Housing Finance Agency (FHFA) will require the government sponsored enterprises to submit annual plans to advance equity in housing finance for the next three years. “This is a major step in bringing more equity to the housing finance industry,” said Fudge.

Equity 319

A transparent foreclosure marketplace reveals hidden equity

Housing Wire

billion in potential home equity has been uncovered for distressed homeowners facing foreclosure. A foreclosure sale usually represents the last chance for a distressed homeowner to benefit from any equity in a property being foreclosed,” said Ali Haralson , Auction.com president. “If

Equity 366

Alt equity firm Point says it won’t abandon reverse mortgage space

Housing Wire

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. Point’s primary product offering is a home equity investment, which centers on the sale of a small fraction of a customer’s home equity, typically in the range between 5-10% of the home’s current value.

Equity 157

Compare Your Home Equity Borrowing Options

Realty Biz

Your home equity is the difference between what you owe on your mortgage(s) and what your home is currently worth if you sold it today (the appraised value). Your equity increases in two ways. Second, your equity increases as the market value that you can sell it for increases.

Mortgage lenders deal more purchase loans amid fewer refis

Inman

The latest numbers from Attom Data Solutions show that mortgage lenders issued more purchase loans in the second quarter of the year, but lost ground on the refinancing side.

Loans 139

Loans in forbearance flat ahead of CFPB regulations

Housing Wire

The number of loans in forbearance stood unchanged from last week at 3.25% for the week ending on Aug. According to the latest report from the Mortgage Bankers Association , 1.6 The share of Fannie Mae and Freddie Mac loans in forbearance remained the same, at 1.66%.

Loans 327

Caliber Home Loans plans $2B-plus IPO

Housing Wire

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. That placed Caliber just behind United Wholesale Mortgage.

Loans 323

JPMorgan Chase tightens standards for jumbo loans in Manhattan

Housing Wire

JPMorgan Chase has tightened mortgage terms on jumbo loans for co-operatives and condominiums in Manhattan amid shrinking buyer demand, Bloomberg reported on Friday. Chase announced that, beginning this week, it would limit jumbo loans to 70% of the sale price.

Loans 421

Homeowner Wealth Increases Through Growing Equity This Year

Keeping Current Matters

But home equity – the difference between the value of your home and what you currently owe – isn’t just built through your monthly principal payments. Home price appreciation plays a vital role in growing your equity and, ultimately, your wealth. homeowner equity has reached nearly $1.9

Equity 224

Home Values, Owners’ Equity Rise in 2Q20

Eye on Housing

As the novel coronavirus took hold in the second quarter, households’ market values continued to rise, per second quarter 2020 Federal Reserve Flow of Funds report. In the second quarter, the aggregate value of all household mortgages rose by $80 billion to $10.6

Equity 114

Cash offer startup Accept.inc raises 90M in debt and equity

Housing Wire

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. If the all-cash offer wins, the home is purchased from the seller and reserved until the loan is ready to close.

Equity 307

Rapid home equity growth calms foreclosure crisis fears

Realty Biz

It may sound like a large number, but the prospect of a foreclosure crisis is looking increasingly unlikely thanks to a sharp rise in home prices that has seen homeowner equity grow significantly since one year ago. of all outstanding mortgages in the U.S.

ATTOM: Surging Home Equity Indicator of Healthy Housing Market

RIS Media

Home Equity & Underwater Report shows that 34.4% of mortgaged residential properties in the U.S. were considered equity-rich in the second quarter—this means the combined estimated amount of loans secured by those properties was no more than 50% of their estimated market value.

Ahead of its IPO, Caliber gives its private equity owner $300M in cash

Housing Wire

Lone Star Funds ‘ residential mortgage lender Caliber Home Loans hopes to raise up to $538 million at its highly anticipated public debut next week, according to documents filed with the Securities and Exchanges Commission on Wednesday.

Equity 295

Refinance loans spur 14-year high in lending activity

Inman

The dollar amount of loans distributed during the fourth quarter of 2020 was also the highest quarterly amount distributed since at least 2000.

UWM offering 61 bps on conventional loans through March 8

Housing Wire

To generate buzz for its upcoming independent public offering , United Wholesale Mortgage (UWM) is offering a special deal on conventional mortgage loans to select borrowers for the next two months.

Loans 369

What Can Happen If You Fall Behind on Your Home Equity Loan Payments

RIS Media

A home equity loan can be a convenient and relatively inexpensive way to access money that you can use to pay off credit cards, make home improvements or finance a child’s college education. If you fall behind on home equity loan payments, you will be assessed late fees.

Digital mortgage provider LoanLogics bought by Sun Capital

Housing Wire

announced the acquisition of LoanLogics , a digital mortgage solutions provider and fellow Jacksonville-based company. Inefficiencies in data and workflow are driving rising mortgage market costs, and LoanLogics helps solve this industry challenge.”

3 Ways Home Equity Can Have a Major Impact on Your Life

Keeping Current Matters

There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. Home Equity Report , revealed that 30.2%

Equity 237

Private mortgage insurance industry boomed in 2020

Housing Wire

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations.

Reverse mortgage industry courts financial planners

Housing Wire

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns.

One lender begins targeting Gen X for reverse mortgages

Housing Wire

One of the ways that RMF approached the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team pursuing different options to enhance its offerings, similarly to the way the idea to streamline borrower qualification came about.

Low, low mortgage rates make 19.4 million eligible for refi

Housing Wire

As mortgage rates sta y below 3% for the 17th consecutive week, a Black Knight report released Friday found that the number of “high quality” refinance candidates continues to climb. Looking at current mortgage rates, Black Knight estimates those 19.4

Nonbanks are seizing a “generational opportunity” to go public. But who will actually reap the rewards?

Housing Wire

members of the Federal Reserve’ s Federal Open Market Committee discussed hiking interest rates. billion public offering, citing adverse market conditions and poor valuations for other newly public fintech companies. On Nov.

Equity 342

Reverse mortgage volume drops in August

Housing Wire

The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% This is according to data compiled by Reverse Market Insight (RMI). to 118 loans).

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. Why head into retirement with a mortgage?

Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha

Housing Wire

As more and more mortgage tech companies enter the scene, competition for accessibility and personalization gained speed this week as proptech touched down in more niche submarkets. The post Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha appeared first on HousingWire.

Here are the top 15 mortgage lenders of 2020

Housing Wire

A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. billion loans Percent volume increase from 2019: 226.3%.

Mortgage delinquencies below 6% for first time since March

Housing Wire

For the first time since March 2020, the national mortgage delinquency rate fell below 6% to 5.9% While modest mortgage delinquency improvements have occurred for several months, loans considered seriously delinquent are still five times that of pre-pandemic levels.

Mortgage Tech: Blend, Black Knight and QuestSoft

Housing Wire

Mortgage tech is already off to the races, with companies introducing new digital products early in 2021. Though this isn’t the first time the mortgage tech startup has worked closely with the government entities.

Ginnie Mae will ban LIBOR-based mortgages

Housing Wire

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January.

3 underrated mortgage products to consider

Housing Wire

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. 5 reasons to refinance your mortgage right now.

RoyaleLife CEO Robert Bull Warns of the Dangers of Early Equity Release

Realty Biz

Equity release may seem like a good strategy in the short term, but the CEO of the UK’s largest provider of bungalow living for the over 45’s warns that the practice is, for many people, not the ideal financial strategy. What Is Equity Release? The Disadvantages of Equity Release Plans.