Housing Wire

MAY 22, 2024

Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its share of total HECM endorsements in 2023 rise to its highest level since 2019. Still, signs of new life have emerged over the past seven months. That’s not saying all that much.

Mortgages 334

Mortgages Loan Officer Lending Loans 334

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement.

Mortgages 367

Mortgages Bankruptcy Loans Equity 367

Housing Wire

APRIL 22, 2024

Even homeowners who have paid off their mortgage may be finding that their available equity is not enough to downsize, according to a story published Saturday by The New York Times. The article also notes that reverse mortgages are a potentially valuable tool for seniors in the current housing environment.

Equity 387

Equity Mortgages Development Loans 387

Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 HECM market share of HECM-backed Securities (HMBS) on the issuer league tables compiled by New View Advisors.

Mortgages 327

Mortgages Marketing Equity Finance 327

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., As far as the interest in reverse mortgages, it has been steady,” he said.

Mortgages 363

Mortgages Principal Loans Loan Officer 363

Housing Wire

JANUARY 29, 2024

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. FAR Longbridge +1 3 PHH Mortgage 16.3% PHH Mortgage TMAC +2 6 Guild Mortgage 2.7% 1 position.

Mortgages 360

Mortgages Finance Equity Design 360

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. The obvious culprit is still rates.

Mortgages 387

Mortgages Bankruptcy Principal Finance 387

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate.

Mortgages 359

Mortgages Loan Officer Fixed-rate mortgage Loans 359

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. HW: Some borrowers are under the impression that reverse mortgages are a last resort.

Mortgages 391

Mortgages Equity Loans Lending 391

Housing Wire

JANUARY 17, 2024

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? 1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade.

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Finance Seller concession Loan Officer Loans 419

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officer 386

Loan Officer Mortgages Loans Closing costs 386

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. HousingWire: What are some potentially overlooked products that originators could add to their portfolios to grow their businesses in the rising rate environment?

Mortgages 352

Mortgages Equity Finance Technology 352

Housing Wire

SEPTEMBER 24, 2021

Another bill joined the fray, and its sponsors propose creating a new 20-year-fixed-rate mortgage program through Ginnie Mae. The move could “allow qualified homebuyers to build equity-and wealth- at twice the rate of a conventional 30-year mortgage.”. The bill is sponsored by Sens.

Mortgages 493

Mortgages Equity Fixed-rate mortgage Development 493

Housing Wire

JANUARY 24, 2023

California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means. The majority of its revenue comes from rents, set at market rates by using third-party data.

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Sales Equity Loan Officer Finance 320

Housing Wire

APRIL 12, 2024

For one, the mortgage servicing industry adopted some COVID-era, rescue-type packages where a house does not go into immediate foreclosure. foreclosure rate at 0.3% in early 2022 — the lowest foreclosure rate recorded since 1999. Also, following that surge, the foreclosure rate has declined in Texas over the last year.

Mortgages 344

Mortgages Equity Construction As-is 344

Housing Wire

APRIL 26, 2024

A Mortgagee Letter (ML) detailing the particulars of the policy changes has been released in conjunction with a new entry in the Federal Register. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

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Closing costs Development Equity Closing 413

Housing Wire

JANUARY 2, 2024

While most have their eyes on the horizon, HousingWire’s dedicated reverse-centric publication, Reverse Mortgage Daily (RMD), will look back one more time at a year of challenge. However, the business continued to feel the ongoing impact of RMF’s collapse throughout 2023, and it will likely persist well into the new year.

Mortgages 338

Mortgages Lending Industrial Loans 338

Housing Wire

MARCH 20, 2024

In a speech given at Stupak Community Center in Las Vegas on Tuesday, President Joe Biden continued to pitch his administration’s new housing proposals , which he and others have claimed will bring down housing costs , bolster supply and eliminate “junk fees” that he says have played people for “suckers.”

Equity 396

Equity Title Construction Renovation 396

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% That was down 3.6%

Mortgages 341

Mortgages Seller concession Principal Loans 341

Housing Wire

APRIL 14, 2022

economy, it doesn’t appear that mortgage rates will be dropping below that mark anytime soon. Purchase mortgages this week averaged 5%, up 28 basis points from 4.72% a week ago , according to the latest Freddie Mac PMMS. A year ago at this time, rates were at 3.13%. Jumbos on Wednesday were locked at 4.69%.

Mortgages 413

Mortgages Fixed-rate mortgage Banks Renovation 413

Housing Wire

JULY 8, 2022

Institutional players in the single-family rental (SFR) market have been expanding their reach into select American neighborhoods since the global financial crisis of 2008, but they now find themselves in an uncomfortable limelight. . The ability of SFR companies to purchase homes with cash provides a competitive advantage.”. “The

Equity 392

Equity Residential Investor As-is 392

Housing Wire

MARCH 20, 2023

It is often said that the Fed raises interest rates until something breaks. The collapses were inevitable given their unconventional funding makeup against the Fed’s misguided policy of overly aggressive interest rate hikes over the last 12 months. In 2021, mortgage originations hit a record high of $4.4 trillion in 2023.

Banks 359

Banks Mortgages Fixed-rate mortgage Loans 359

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 312

Mortgages Title Marketing Lending 312

Housing Wire

AUGUST 1, 2023

From leading mortgage companies and real estate firms to spearheading groundbreaking initiatives and driving policy reforms, these honorees are making an indelible impact on housing.

Lending 370

Lending Title Mortgages Equity 370

Housing Wire

NOVEMBER 17, 2021

Not doing so is resulting in overcharging first-time homebuyers and especially African American and Hispanic borrowers, the segments of our housing population needing the greatest support. Written by an independent third-party auditing firm, the study produces a net present value of the total FHA forward and reverse mortgage portfolios.

Mortgages 385

Mortgages FHA loan Loans Equity 385

Housing Wire

APRIL 26, 2022

HousingWire recently spoke to Jonathan Scarpati, Senior Vice President of Wholesale Lending at Finance of America Reverse, about tapping into the reverse mortgage market in light of the changing market. . By 2050, 20% of Americans will be 65 or older. And they’re sitting on an estimated $10 trillion in home equity.

Mortgages 349

Mortgages Marketing Equity Loans 349

Housing Wire

FEBRUARY 15, 2024

And that’s how Saller’s clients — siblings in their early 20s — can close on a $335,000, three-bedroom condominium in Jackson, New Jersey, early in March. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). said Michael Ullmann, a producing branch leader at Movement Mortgage.

FHA loan 438

FHA loan Loans Closing costs Loan Officer 438

Housing Wire

AUGUST 13, 2021

Divvy Homes , the prop-tech startup that buys homes on behalf of renters and guides them to eventual ownership, announced Friday a new round of funding that nearly quadrupled its valuation to $2 billion. Tiger Global Management in particular has been a heavy hitter when it comes to funding Divvy’s homeownership goals.

Pre-qualification 404

Pre-qualification Pre-approval Equity Finance 404

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Based in Missouri, OptiFunder had a three-year growth rate of 4,767%. Another Missouri-based company, Transactly had a three-year growth rate of 3,852%. million in a Series A funding round in 2022.

Equity 350

Equity Technology Investor Lending 350

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Recruiting battles for LOs remain fierce, mortgage executives and LOs told HousingWire.

Mortgages 441

Mortgages Banks Brokerage Loans 441

Housing Wire

JULY 12, 2021

Venture capital-backed mortgage lender Better.com is going international. The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. Trussle’s investors include American bank Goldman Sachs and Amsterdam-based venture capital fund Finch Capital.

Brokerage 360

Brokerage Mortgages Loan Officer Banks 360

Housing Wire

JUNE 30, 2021

HW Community, Today we are thrilled to announce that HW Media has acquired Reverse Mortgage Daily (RMD) – the reverse mortgage industry’s premier independent source for news, commentary and analysis. According to the Urban Institute , the homeownership rate for seniors ages 65 and older is close to 80%.

Mortgages 351

Mortgages Branding Equity Industrial 351

Housing Wire

DECEMBER 27, 2022

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. million in mortgages valued at $1.7 Delinquency rates rise again.

FHA loan 468

FHA loan Loans Mortgages Equity 468

Housing Wire

SEPTEMBER 2, 2022

The Impact Shares Affordable Housing MBS ETF, also known as OWNS, is an exchange-traded fund with the ambitious mission of seeking to tap the capital markets to address long-standing affordable-housing and racial-wealth gap issues in U.S. In the case of OWNS, it is traded through the New York Stock Exchange.

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Closing Marketing Investor Banks 404

Housing Wire

MAY 16, 2023

” At that time, historically low rates spurred the mortgage market to $4 trillion in volume — and the perception among the rank-and-file was that Home Point Capital ‘s wholesale lending business Homepoint was a great place to work. Its private equity backers planned to raise $250 million by selling 12.5

Mortgages 358

Mortgages Loans Lending Equity 358

Housing Wire

MAY 3, 2021

The 2021 winners demonstrated their worth in the crucible of 2020 — navigating through shut-down orders and liquidity concerns before pivoting quickly to respond to record-low interest rates. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders.

Finance 392

Finance Lending Title Mortgages 392