Redwood Trust plants flag in the massive home equity market

Housing Wire

Part of that vision included finding ways to tap into the nation’s multitrillion-dollar pool of home equity. That is done via what is called a home-equity investment contract, or an HEI. The post Redwood Trust plants flag in the massive home equity market appeared first on HousingWire.

Equity 308

Homeowners gain $2.9 trillion in equity in Q2 2021

Housing Wire

trillion in equity in the second quarter of 2021, a 29.3% The amount of equity for a property is determined by comparting the estimated current value of the property against the mortgage debt outstanding (MDO). In addition, the national aggregate value of negative equity decreased $18.9

Equity 428

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Bond investor PIMCO bets on home-equity market

Housing Wire

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. Learn about the tools lenders should leverage to streamline home equity title and closing.

Equity 292

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 370

Homeowners gain over $620 billion in equity in second quarter

Housing Wire

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. homeowners with mortgages witnessed a 6.6%

Equity 406

How to help homeowners make the most of home equity

Housing Wire

As home equity reached another record high this year, mortgage companies have a big opportunity to help homeowners understand how to better manage or leverage their home’s equity to improve their housing and overall financial outlook. Use home equity to raise home value.

Equity 357

Equity jumps for Black homeowners, but problems remain

Housing Wire

The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021. That $59,000 gain represents a median home equity increase of 197%.

Equity 392

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 , president. “If

Equity 354

Redfin acquires Bay Equity, pink slips 121 staff

Housing Wire

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. Founded in 2007, Corte Madera-based Bay Equity originated a volume at $8.5

Equity 382

Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record.

Equity 375

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 326

Alternate equity companies see a lot of potential in senior citizens

Housing Wire

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Seniors’ response to alternative equity tapping since COVID-19 onset.

Equity 292

As Home Equity Rises, So Does Your Wealth

Keeping Current Matters

This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. This is giving homeowners a significant equity boost. That equity can take you places.

Equity 237

Private equity shop Lovell Minnick acquires UniversalCIS

Housing Wire

Lovell Minnick Partners , a private equity firm that acquired ATTOM Data Solutions in 2019, announced Wednesday morning that it’s diving further in to the housing space with the acquisition of UniversalCIS.

Equity 324

Keller Williams adds Diversity, Equity and Inclusion Committee to leadership council

Housing Wire

Last week, Keller Williams ’ International Agent Leadership Council voted unanimously on a motion to amend its belief system and to add an additional committee, as introduced by Kymber Menkiti and John Clidy, co-chairs of the KW National Social Equity Task Force.

Equity 366

Homeowner Equity Increases an Astonishing $1 Trillion

Keeping Current Matters

In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings: S.

Equity 240

Home equity won’t be enough to prevent foreclosure for some

Housing Wire

Despite record-high home prices, home equity may not save some borrowers in forbearance from foreclosure, according to a Black Knight ’s report published Monday. Since 2010, around 10% of borrowers with more than 120 days in delinquency were referred to foreclosure, regardless of their equity. In a report published last month, Black Knight showed that of homeowners still in forbearance as of mid-August, 98% have at least 10% equity, compared to 28% during the last downturn.

Equity 220

The Average Homeowner Gained $56,700 in Equity over the Past Year

Keeping Current Matters

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan.

Equity 233

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.

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 219

Tax & flood vendor Lereta acquired by private equity firms

Housing Wire

Private equity firms Flexpoint Ford and Vestar Capital Partners have bought Lereta LLC , a provider of real estate tax and flood solutions for mortgage servicers, the companies announced this week. “As a result, we’ve been successful in adding new customers and building market share.

Equity 301

FHFA’s equity plan: Too much or not enough?

Housing Wire

The day after Labor Day, the nation’s top housing regulator announced that its regulated entities, which control half the nation’s $11 trillion housing market, would have to come up with plans to address racial equity. The post FHFA’s equity plan: Too much or not enough?

Equity 266

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. trillion, while the aggregate value of the households’ market values, i.e., that of all owner-occupied real estate.

Equity 114

Home Equity Gives Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.

Equity 168

Cash offer startup raises 90M in debt and equity

Housing Wire

Mortgage startup announced Thursday it raised $90 million in debt and equity. In a fiercely competitive market with limited inventory, a cash offer is hugely appealing to sellers, who can typically close faster than they would with a mortgage-contingent offer.

Equity 284

ATTOM: Surging Home Equity Indicator of Healthy Housing Market

RIS Media

Home Equity & Underwater Report shows that 34.4% 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. ATTOM’s latest U.S.

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 165

Home Equity Give Sellers Options in Today’s Market

Keeping Current Matters

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates.

Equity 149

CoStar and private equity group battle for CoreLogic

Housing Wire

Citing anonymous sources, Bloomberg reported that CoStar Group and a private equity group led by Warburg Pincus are currently competing for the data provider, though it is unclear if either have made an offer yet. billion market cap.

Equity 285

The Importance of Home Equity in Building Wealth

Keeping Current Matters

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”.

Equity 217

How to give and receive a gift of equity: Rules and process

The Mortgage Report

A gift of equity can be a huge help when buying a home. Buying a home Essential Mortgage Miscellany Mortgage Strategy Tax Law For Mortgages appraised value fannie mae gift of equity fha gift of equity Gift Letter gift of equity gift of equity letter gift of equity tax gift tax market value

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.

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 233

Is Strong Equity Enough to Hold Back Foreclosures?

RIS Media

released its latest Mortgage Monitor Report , exploring the relationship between equity positions and downstream foreclosure start rates and, ultimately, distressed liquidations. The post Is Strong Equity Enough to Hold Back Foreclosures?

“Immediate Equity”

The Living Room

As we walked through the home, taking in the gorgeous wainscoting in the dining room and high ceilings throughout, J turned to me to confess she had been watching the Portland market daily, comparing their purchase price to everything else that was out there.

5 predictions for the 2022 housing market

Housing Wire

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years.

Disruptor Roundup: Unison Hopes to Upend Home Equity Access

RIS Media

But now, as more and more homeowners are sitting on growing piles of home equity, Unison has pivoted and hopes to make a splash by allowing people to draw cash from their home without adding to their monthly bills.