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.

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Community, building equity important for young homebuyers

Housing Wire

A homebuyer’s guide to a competitive housing market. The housing market is extremely competitive right now. In the past 12 months, housing markets across the country have seen a heavy influx of new homebuyers as well as existing owners looking to renovate or add square footage.

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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%.

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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 272

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

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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.

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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 215

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. Accept.inc claims its services come with no additional costs or markups beyond the fees of a traditional mortgage offer.

Equity 227

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 108

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.

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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 252

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.

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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

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.”.

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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 223

US home equity levels rose in Q3

Inman

Equity-rich properties made up about 28.3 percent of mortgaged homes in the U.S. during the third quarter, up from 26.7 percent the previous year.

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.

Homeowners are cashing out equity like it’s 2005

Inman

With home values soaring and mortgage rates still near historic lows, homeowners are cashing out home equity at volumes not seen since the height of the housing bubble.

Equity-rich properties make gains in fourth quarter

Inman

The number of equity-rich homes in the U.S. made solid gains at the end of last year, and now account for more than 30 percent of mortgaged properties, according to a new report from Attom Data Solutions.

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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

Average homeowner gained $33,400 in equity last year: CoreLogic

Inman

The average annual equity gain from Q1 2020 to Q1 2021 for homeowners with mortgages is the highest in at least a decade, according to CoreLogic. Analysis Markets & Economy News Brief corelogic CoreLogic Homeowner Equity Report Dr. Frank Nothaft frank martell home equity

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.

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Could online mortgage lenders reduce discrimination against Black homebuyers?

Housing Wire

The housing market is red hot. Differences in home equity account for a large chunk of the wealth gap, with Black families having only about one-eighth the net wealth of white families. The roots of racial disparities in housing and mortgage markets run deep.

CoreLogic: Home Equity Rises Despite the Pandemic

RIS Media

CoreLogic® recently released the Home Equity Report for the second quarter of 2020. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen their equity increase by 6.6 percent of all mortgaged properties.

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.

The growing support for female mortgage executives

Housing Wire

After speaking with several other female mortgage executives in celebration of International Women’s Day, I wanted to take the opportunity to highlight a few women leaders who are making waves. Mortgage servicers take steps to support borrowers amid COVID-19.

United Wholesale Mortgage makes public debut

Housing Wire

After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95. What happens when the markets change?”.

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 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.

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?

COVID-19 remains “wildcard” in 2021 housing market

Housing Wire

Additional lockdowns and quarantines due to COVID-19 could put a dent in housing inventory and sales, potentially slowing down the market and putting increased pressure on buyers, the forecast said. Realtor.com forecasts that 2021 will continue to be a robust seller’s market.

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.

Strong refi business, low rates aren’t growing reverse mortgage audience

Housing Wire

While the reverse mortgage industry has seen strong business numbers for most of the past year with endorsements largely staying above 4,000 loans a month, the amount of Home Equity Conversion Mortgage (HECM)-to-HECM refinance transactions being done alongside other market factors frankly outside of the reverse mortgage industry’s control are doing very little to commensurately expand the penetration rate of the HECM category into the broader mortgage business.

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. 14 – Guild Mortgage. 12 – Crosscountry Mortgage.

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.