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. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

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Equity Marketing Debt-to-income ratio Lending 353

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 335

Equity Lending Loans Banks 335

Housing Wire

JULY 12, 2022

San Francisco-based Unison is extending its reach in the heartland by expanding its shared-equity loan program to homeowners in Nebraska. billion in equity-sharing agreements with some 9,000 homeowners across 29 states and the District of Columbia. Prioritizing home equity solutions in a rising rate environment.

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Equity Residential Loans Title 305

Housing Wire

MAY 3, 2022

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. The capital will be used to accelerate Point’s growth in the $25 trillion home-equity market, according to the company’s co-founder and CEO Eddie Lim. Point raised about $30.4

Equity 396

Equity Investor Loans Residential 396

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

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Equity Loans Lending Banks 327

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

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Lending Loans Equity Mortgages 367

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. The loans are serviced by Rushmore Loan Management Services.”. Learn about the tools lenders should leverage to streamline home equity title and closing.

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Equity Investor Marketing Title 321

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. branches and agencies of foreign banks.

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Lending Banks Mortgages Loan Officer 403

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

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Loans Equity Lending Mortgages 319

Housing Wire

MAY 1, 2023

These loans, which are often used to finance environmentally-minded renovations, like the addition of solar panels, have led to financial instability for some borrowers. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

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Loans Lending Finance Renovation 296

Housing Wire

MARCH 14, 2022

HousingWire recently spoke with Jon Gerretsen, SitusAMC Managing Director of Residential New Originations and Fulfillment Services, about the home buying boom and how lenders can gain market share and drive profitability in a white-hot purchase mortgage market. “The The refi pull-thru fell to just 68.6%, according to Black Knight.

Equity 363

Equity Lending Loans Mortgages 363

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. Adverse delinquencies (loans 60 to 89 days past due) remained at 0.4%, consistent with February 2023.

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Mortgages Staging Principal Loans 398

Housing Wire

FEBRUARY 7, 2022

San Francisco-based fintech firm Unison plans several securitization deals to market in 2022, with private label offerings backed by home-equity assets. Unison, through an REA contract, advances the homeowner a portion of the equity in the property in exchange for a lien position and a share of the home’s future appreciation.

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Equity Marketing Investor Finance 271

HomeLight

NOVEMBER 17, 2023

However, there’s a strategic solution that might just fit your needs: a bridge loan. As a short-term financing option, bridge loans in Illinois offer a unique opportunity. In this post, we’ll provide insights and helpful tips about bridge loans in Illinois. What is a residential bridge loan?

Equity 95

Equity Loans Debt-to-income ratio Home sale contingency 95

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

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Equity Loan Officer Residential Commercial 352

Housing Wire

OCTOBER 11, 2023

HousingWire was unable to confirm which lines of business were affected, but it follows PNC’s layoffs in July when it made “limited organizational changes” within its mortgage and home equity groups, the spokesperson confirmed. The company reported total consumer loans of $101.8 The company reported total consumer loans of $101.8

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Equity Banks Residential Loans 411

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. Loan production in the home equity arena was $1.8 billion in outstanding residential mortgages on its books through March 31, 2024, down from $228.9 The home equity portfolio was $25.5

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Mortgages Banks Equity Commercial 384

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 352

Loans FHA loan Principal Marketing 352

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. In this guide, we explain the ins and outs of bridge loans in Utah and help you decide if they could be the answer to your property puzzle. How does a bridge loan work in Utah?

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Equity Loans Debt-to-income ratio Home sale contingency 102

Housing Wire

MARCH 8, 2024

banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. FDIC), banks held $2.78

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Banks Commercial Lending Residential 446

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

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Mortgages VA loan Principal Loans 338

Housing Wire

FEBRUARY 16, 2023

The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA). “As

Mortgages 391

Mortgages Equity VA loan FHA loan 391

Housing Wire

AUGUST 31, 2022

Fraud risk is growing as the market shifts away from traditionally low-risk refinances and moves toward a purchase and home equity driven market. FraudGuard’s latest release includes analytics that simplify the review process by streamlining the data collected from the loan application. Enhanced Efficiency.

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Loans Equity Residential Industrial 266

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. mortgage industry are in the past.

Banks 437

Banks Mortgages Fixed-rate mortgage Equity 437

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 We’ll probably trade a little over $1.2

Equity 421

Equity Lending Fixed-rate mortgage Loans 421

Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. trillion year over year.

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Seller concession Equity Loans Mortgages 365

Housing Wire

AUGUST 23, 2023

The Board fined Regions “for its failure to effectively monitor a portfolio of home equity loans for compliance with flood insurance regulations due to changes in loan servicing platforms and third-party service providers,” noting that the bank had a pattern of individual violations of flood insurance regulations.

Banks 302

Banks Equity Loans Residential 302

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. A 40%-plus net share of all U.S.

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Lending Banks Mortgages Loan Officer 332

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates. In the mortgage space, TD Bank was a top-35 U.S.

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Banks Lending Loans Finance 325

Housing Wire

FEBRUARY 21, 2024

The industry side of the board includes Eddy Perez, CEO of Equity Prime Mortgage (EPM) ; Phil Shoemaker , CEO of The Loan Store ; Chris Vinson, CEO of Windsor Mortgage ; and Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group (PRMG).

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Lending Finance Loans Mortgages 374

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. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

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Finance Seller concession Loan Officer Loans 424

Housing Wire

OCTOBER 21, 2020

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. Caliber , based in Coppell, Texas, plans to raise upwards of $423 million by selling over 26.4

Equity 297

Equity Mortgages Loans Residential 297

Realty Biz

MAY 25, 2022

A Home Equity Loan and a Home Equity Line of Credit (HELOC) are not the same thing. In general, a home equity loan is a better financial tool for most consumers. Both are ways to finance large expenses by borrowing against the equity in your home minus closing costs. Credit cards are unsecured loans.

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Equity Loans Principal Finance 79

Housing Wire

JULY 18, 2023

mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. Mortgage, home equity business The new rules would affect BofA’s mortgage originations, which totaled $5.9 BofA had an 11.6%

Mortgages 290

Mortgages Banks Equity Residential 290

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. Residential Lending at TD Bank. Steve Kaminski is head of U.S.

Renovation 357

Renovation Fixed-rate mortgage Equity Finance 357

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. These worries are now showing signs of alleviating , though the virus is resurgent.

Mortgages 469

Mortgages Lending Banks Residential 469

Housing Wire

SEPTEMBER 21, 2023

Loan quality and audit services company QC Ally on Thursday announced the acquisition of third-party due diligence solutions company Inglet Blair. Founded in 2003, Inglet Blair specializes in the analysis of residential mortgage loans and other forms of secured mortgage-related debt, leaning on ratings-agency approved insight. “As

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Due diligence Equity Loans Residential 326