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Point, Redwood Trust issue $139M home equity investment securitization

Housing Wire

Redwood Trust and home equity fintech lender Point have closed on a $139 million bond secured by 1,577 home equity investment (HEI) contracts. The rating agency, which was the first to provide a rating for the asset class, published a new methodology for HEIs in July 2023. Nomura Securities International Inc.

Equity 360
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Home equity products light up a dark housing market

Housing Wire

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. homeowners saw home equity increase 1.7%

Equity 375
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Point, Atalaya Capital close on $141M securitization

Housing Wire

Home equity fintech lender Point , in collaboration with its long-time financing partner Atalaya Capital Management , has successfully closed a $141 million rated asset-backed securities transaction. Point originated all of the home equity investments (HEIs) involved in the securitization and will continue to service the assets.

Closing 333
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Opinion: How regulators can reduce costs and increase equity

Housing Wire

Many first-time homebuyers can be barred from the entire lending process due to outdated and antiquated methodologies, including credit reporting. However, the benefits go beyond just cost savings. For decades, lenders would turn to credit scores as the “North Star” for a lender’s credit worthiness.

Equity 416
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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

Amid protests set off by George Floyd’s death, Fannie Mae ’s CEO issued a public statement about its commitment to racial equity. I told him, ‘We have this serious racial equity issue still pending, and I hope Fannie Mae is serious about it.’” Our role in housing finance brings important responsibilities.”.

Equity 369
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What a tech entrepreneur has discovered about reverse mortgages

Housing Wire

Some customers she spoke to explained that after looking at the origination fee structure and the mortgage insurance premium, a home equity line of credit seemed more beneficial to them. Certain customers also reported a prolonged origination process, which is partially driven by underwriting guidelines and counseling. reverse mortgage space.

Mortgages 382
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AAG Survey: 92% of Seniors Want to Age in Place, Majority See the Home as ‘Most Valuable Asset’

Housing Wire

When asked if they had paid off their mortgage and are living in a free-and-clear home, 55% of respondents answered affirmatively, though a minority of respondents – 40% – indicated that they would entertain the prospect of drawing on their home’s equity if it could eliminate a monthly mortgage payment.

Equity 388