Housing Wire

FEBRUARY 13, 2024

Boston-based fintech company Hometap has deployed more than $1 billion in home equity investment (HEI) products since its launch in 2017, the company announced on Tuesday. homeowners with outstanding mortgages, or some 63% of all homes, equity tied up in real estate jumped by 6.8%

Equity 333

Equity Renovation Loans Investor 333

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Equity 415

Equity Lending Banks Loans 415

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years.

Equity 430

Equity Purchase and sale agreement Loans Mortgages 430

Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads. “The

Equity 400

Equity Mortgages Banks Loans 400

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. How could they ever justify walking away from a loan with this low of an interest rate ?

Equity 431

Equity Loans Bankruptcy New Construction 431

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

Equity 368

Equity Lending Title search Title 368

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% Loan production in the home equity arena was $1.8 from the $3.9

Mortgages 413

Mortgages Banks Equity Commercial 413

Housing Wire

APRIL 15, 2024

Caregiving challenges can be compounded if there’s only one child in the family, but a reverse mortgage could offer a solution, according to a column published by Reuters. Industry educators have long aimed to position a reverse mortgage as a financial planning tool for retirement. The beneficiaries can get more.

Mortgages 450

Mortgages Equity Loans As-is 450

Housing Wire

FEBRUARY 21, 2024

An affiliate of Paceline Equity Partners LLC , a private equity manager based in Texas, completed a debt investment in a subsidiary of Constellation Software Inc. trillion in mortgage locking and trading transactions per year. Optimal Blue integrates with all the loan origination systems (LOSs).

Equity 350

Equity Loans Mortgages Finance 350

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Equity 414

Equity Purchase and sale agreement Marketing Lending 414

Housing Wire

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. I was wondering if you guys could explain reverse mortgages,” the listener asked the group.

Mortgages 429

Mortgages Equity Title Loans 429

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Loans 460

Loans FHA loan Equity Mortgages 460

Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

Technology 420

Technology Banks Mortgages Equity 420

Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Kim: There are a handful of home equity investment firms in the market. Based on the notion that far too many U.S.

Equity 368

Equity Marketing Investor Loans 368

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 479

Residential Lending Banks Mortgages 479

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgages 438

Mortgages Brokerage Loan Officer Lending 438

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Despite downturns in the mortgage origination market, Americans’ tappable home equity surged to a historic-high of $27.8 Guaranteed Rate , UWM , loanDepot and New Residential Investment Corp.

Equity 396

Equity Loans Banks Title 396

Housing Wire

JANUARY 30, 2024

Atlanta-based nonqualified mortgage (non-QM) lender Angel Oak Mortgage Solutions is tapping into the home equity line of credit (HELOC) market amid elevated equity levels. Borrowers can qualify for this loan with owner-occupied homes, second homes or investment properties. from $490 billion in the second quarter.

Mortgages 439

Mortgages Equity Banks Loans 439

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization.

Mortgages 398

Mortgages Equity Lending Industrial 398

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 374

Equity Lending Loans Banks 374

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA

VA loan 381

VA loan Loans Loan Officer FHA loan 381

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 382

Equity Marketing Fixed-rate mortgage Finance 382

Housing Wire

JULY 11, 2023

American homeowners currently have more tappable home equity than ever — a net $30 trillion in home equity that can be tapped right now, according to HousingWire lead analyst Logan Mohtashami. There’s more tappable equity here than any other time in history, maybe.” It’s an exciting time for home equity, for sure.”

Equity 354

Equity Lending Loans Mortgages 354

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

Loans 399

Loans Lending Equity Mortgages 399

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgages 479

Mortgages FHA loan Equity Loans 479

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 384

Equity Loans Lending Banks 384

Housing Wire

APRIL 17, 2024

One planner solicited for input thinks that a reverse mortgage could be a worthy consideration, among other options, according to a new blog. “I I used to dislike reverse mortgages. A 2023 study published by Mutual of Omaha Mortgage suggested that misunderstandings about reverse mortgages remain rampant.

Mortgages 403

Mortgages Equity Loans As-is 403

Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. “The status quo is broken,” Garg said.

Equity 383

Equity Pre-approval Loans Finance 383

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs. DSCR loans are always a popular option.

Debt-to-income ratio 396

Debt-to-income ratio Mortgages Banks Investor 396

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). Toohig said Raymond James finished the year with some $1.1

Equity 369

Equity Marketing Debt-to-income ratio Lending 369

Housing Wire

JUNE 8, 2023

Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline recorded since early 2012, according to CoreLogic ’s Homeowner Equity Report (HER). properties.

Equity 344

Equity Mortgages Loans Closing 344

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% to 185 loans, while the Southwest increased 15% to 230 loans.

Mortgages 400

Mortgages Seller concession Loans Equity 400

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Equity 466

Equity Purchase and sale agreement Loan Officer Lending 466

Housing Wire

MARCH 18, 2022

When Curtis Mangus of Premier Mortgage Resources in Meridian, Idaho looked into pivoting into reverse after serving decades in the traditional mortgage business, he asked his managing partner at the lender about its reverse mortgage department. You are the reverse mortgage department,” he said. The partner smiled. “

Loans 495

Loans Closing Mortgages Equity 495

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgages 375

Mortgages VA loan FHA loan Lending 375

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

Lending 454

Lending Banks Mortgages Loan Officer 454