Housing Wire

MAY 12, 2022

Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. of mortgaged residential properties in the first quarter of 2022 had at least 50% equity in their property, according to ATTOM.

Equity 450

Equity Mortgages Residential Marketing 450

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Despite downturns in the mortgage origination market, Americans’ tappable home equity surged to a historic-high of $27.8 Guaranteed Rate , UWM , loanDepot and New Residential Investment Corp.

Equity 385

Equity Loans Banks Title 385

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. The survey showed that 30.4%

Lending 419

Lending Banks Mortgages Loan Officer 419

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 381

Equity Loans Lending Banks 381

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

Mortgages 419

Mortgages Staging Principal Loans 419

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

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. rebranded as Rithm Capital ). Toohig said Raymond James finished the year with some $1.1 billion in 2021 to $9.6

Equity 363

Equity Marketing Debt-to-income ratio Lending 363

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 351

Equity Lending Loans Banks 351

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.

Equity 344

Equity Loans Lending Residential 344

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. A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. trillion under management.

Equity 338

Equity Investor Marketing Title 338

Housing Wire

FEBRUARY 16, 2023

The overall national mortgage delinquency rate rose in the fourth quarter of 2022, due in part to a weaker economy and ongoing inflationary pressures. For the past 15 years, mortgage delinquencies have tracked very closely with employment conditions, Marina Walsh, MBA’s vice president of industry analysis, noted. by the end of 2023.

Mortgages 401

Mortgages Equity VA loan FHA loan 401

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 407

Equity Investor Loans Residential 407

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.

Mortgages 354

Mortgages VA loan Principal Loans 354

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 decision will not impact the commercial mortgage business. Inside Mortgage Finance reported that Santander residential production totaled $2.7

Banks 433

Banks Mortgages Fixed-rate mortgage Equity 433

Housing Wire

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. Mortgage, home equity volumes BofA’s mortgage originations totaled $5.6 The home equity portfolio was $25.6 Top-20 U.S. decline from $5.9

Mortgages 333

Mortgages Banks Equity Lending 333

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 367

Mortgages Banks Equity Residential 367

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.

Equity 289

Equity Marketing Investor Finance 289

Housing Wire

NOVEMBER 30, 2023

The Consumer Financial Protection Bureau (CFPB) wants to address mortgage issues, including affordability and servicing challenges. However, persistently high mortgage rates currently straining affordability prospects will limit what the Bureau can accomplish. House of Representatives Financial Services Committee on Wednesday.

Mortgages 383

Mortgages Lending Loans Equity 383

Housing Wire

MARCH 14, 2022

Mortgage origination activity took a major hit in February, with rate hikes squeezing out refinance activity , both for rate-term refis and cash-outs. from January, according to the latest monthly Mortgage Monitor report from Black Knight. The post Cash-out refis starting to slow despite equity gains appeared first on HousingWire.

Equity 378

Equity Lending Loans Mortgages 378

RIS Media

FEBRUARY 8, 2024

of mortgaged residential properties were deemed equity-rich, meaning that nearly half of homeowners outright own a notable amount of their properties in comparison to the outstanding mortgage or debts associated with them, according to ATTOM’s fourth quarter 2023 U.S. Home Equity & Underwater Report.

Equity 119

Equity Residential Mortgages Industrial 119

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. Banks also reported stronger demand for residential real estate loans over the second quarter, with significant demand for QM and non-QM jumbo mortgages.

Mortgages 464

Mortgages Lending Banks Residential 464

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.

Equity 367

Equity Loan Officer Residential Commercial 367

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

Mortgages 310

Mortgages Banks Equity Residential 310

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. This, in turn, has made business brutal, Yopko explained.

Mortgages 368

Mortgages Loans Residential Equity 368

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). billion in the home equity space from $9.6

Mortgages 384

Mortgages Banks Lending Equity 384

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. Mortgage originations totaled $3.9 billion in home equity loans. below the $16.4

Banks 322

Banks Mortgages Equity Loans 322

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. mortgage lender by volume, originated $14.6

Mortgages 406

Mortgages Banks Equity Lending 406

Housing Wire

JULY 18, 2022

However, like its peers, the bank is not immune to surging interest rates: Gains in the consumer banking division declined during the second quarter and mortgage origination volume was down dramatically. Mortgage originations from the bank totaled $14.5 The home equity portfolio went from $30.5 Bank of America posted a $2.88

Banks 343

Banks Mortgages Equity Residential 343

Housing Wire

FEBRUARY 7, 2024

According to a Bloomberg report, the bank has already started to offer its mortgage assets to investors in order to transfer the portfolio risks. Bloomberg, citing anonymous sources, reported that NYCB has contacted investors to finance a large portfolio of residential mortgages held by Flagstar Bank. It also had $84.3

Mortgages 374

Mortgages Banks Marketing Commercial 374

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9

Banks 397

Banks Mortgages Lending Commercial 397

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgages 390

Mortgages Equity Loans Seller concession 390

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.

Lending 348

Lending Banks Mortgages Loan Officer 348

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. How mortgage lenders are qualifying the value of fintech solutions. The company earned $71.8 The company earned $71.8

Mortgages 380

Mortgages Lending Technology Banks 380

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. billion in consumer loans, residential real estate loans took up 46% of the total volume at $46.8

Equity 423

Equity Residential Banks Loans 423

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 357

Sales Mortgages Principal Equity 357

Housing Wire

MARCH 8, 2024

Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. trillion in residential mortgage debt as of first-quarter 2023. According to the Federal Deposit Insurance Corp. FDIC), banks held $2.78

Banks 453

Banks Commercial Lending Residential 453

Housing Wire

MARCH 25, 2022

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. Freedom Mortgage Bank of America Homepoint Guaranteed Rate. The two top lenders, Rocket Mortgage and United Wholesale Mortgage , each maintained their positions.

Mortgages 424

Mortgages Lending Residential Banks 424