Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This has caused HECM principal limits to drop for new applications.

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Principal Mortgages Loans Equity 364

Keeping Current Matters

DECEMBER 21, 2021

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. So, as home values climb , your equity does too.

Equity 261

Equity Principal Loans Sales 261

Housing Wire

SEPTEMBER 6, 2023

According to Black Knight’s mortgage monitor report, the average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter.

Equity 408

Equity Mortgages Principal Loans 408

Housing Wire

MARCH 19, 2024

New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award.

Equity 320

Equity Loan Officer Principal Loans 320

Housing Wire

APRIL 4, 2024

Announced by Marion McFadden, HUD principal assistant secretary for community planning, at a Habitat for Humanity event in Nashville, the $13.5 million in “sweat equity grants” will go to support four nonprofit housing providers. The Colorado recipient, Tierra Del Sol Housing Corp. will receive $1 million.

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Equity Principal Development Construction 291

Keeping Current Matters

JANUARY 6, 2021

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.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 247

Equity Principal Mortgages As-is 247

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. On home equity , Boesel noted that home-price growth should pick up over the next year.

Mortgages 395

Mortgages Staging Equity Principal 395

Housing Wire

OCTOBER 2, 2023

While the average unpaid principal balance of borrowers entering a refinance has fallen from $319K in early 2020 to $183K in August 2023, it is even lower ($165K) among cash-outs specifically. Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Mortgages 396

Mortgages Equity Lending Principal 396

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. million in fourth-quarter 2023.

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Investor Bankruptcy Finance Equity 382

Housing Wire

AUGUST 7, 2023

Rising home prices also boosted homeowner equity levels. The average mortgage holder now has $199,000 in equity, up from $185,000 in the first quarter, but down from $207,000 at the same time last year. Strong equity positions are one element of today’s historically strong mortgage performance, the report said.

Equity 363

Equity Marketing Principal Mortgages 363

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

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Equity Marketing Loans Bankruptcy 502

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 trillion year over year. “At

Equity 428

Equity Lending Fixed-rate mortgage Loans 428

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 351

Mortgages VA loan Principal Loans 351

Housing Wire

DECEMBER 7, 2023

According to the company , the offering size was increased from the previously announced $650 million aggregate principal amount of notes. The company’s debt-to-equity ratio was 2.6 The debt being replaced has maturity in 2025 and a 5.357% interest rate. Other mortgage companies also faced high demand for debt issued this year.

Principal 295

Principal Equity Investor Mortgages 295

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 384

Equity Fixed-rate mortgage Principal Mortgages 384

Housing Wire

DECEMBER 6, 2023

The California-based company announced on Wednesday it intends to offer a $650 million aggregate principal amount of senior notes due in 2029. At the end of September, Pennymac had a debt-to-equity ratio of 2.6 Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. In total, $1.8

Principal 358

Principal Equity Mortgages Investor 358

Housing Wire

OCTOBER 19, 2023

This positions our associates to adapt and thrive in the market from both a business growth and technology innovation standpoint,” Matthew Mullin, principal and founder of The Mullin Blankfeld Group, said in a statement. “It It enables us to level up skills and support, ensuring our associates and clients are prepared for the future.”

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Principal Technology Equity Residential 384

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Mortgages 359

Mortgages Loans Equity Principal 359

Realty Biz

SEPTEMBER 25, 2021

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). For instance, if the remaining balance on your mortgage is $195,000 and the market value is $295,000, you have $100,000 of equity in your home. Your equity increases in two ways.

Equity 108

Equity Loans Bankruptcy Mortgages 108

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity. .”

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Principal Development Brokerage Residential 97

Housing Wire

MAY 10, 2023

In total, Mr. Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return on equity with an estimated 10% increase to operating earnings in the first year. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. Mr. Cooper had 4.1

Equity 374

Equity Principal Mortgages Loans 374

Housing Wire

FEBRUARY 9, 2024

Night and day’ difference When posed with the simple question about how business is going so far this year, David Heilman — principal for HomeGrown Financial in Mount Pleasant, South Carolina — characterized the difference between early 2024 business and the same time last year as “night and day.” “I

Mortgages 380

Mortgages Principal Loans Loan Officer 380

Housing Wire

MARCH 5, 2024

Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 Measured by its common equity tier 1 (CET1) ratio, the bank’s capitalization fell to 9.1% NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

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Sales Banks Principal Loans 353

Housing Wire

MARCH 6, 2023

of the median household income to make the monthly principal and interest payments on the average home purchase. Rising interest rates are the predominant driver as such rate increases have made it more expensive to access home equity and have simultaneously incentivized borrowers to withdraw equity via second lien products instead.

Marketing 385

Marketing Equity Principal Mortgages 385

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 322

Sales Mortgages Loans Loan Officer 322

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Mr. Cooper had 4.1 ” Acquisition mode for Mr. .”

Principal 344

Principal Banks Equity Loans 344

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

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Sales Mortgages Principal Equity 354

Housing Wire

JUNE 3, 2022

Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2 Key to EBO offerings is the fact that the FHA guarantees 100% of the principal balance on the loans it insures. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure.

Loans 363

Loans FHA loan Principal Marketing 363

Housing Wire

AUGUST 7, 2023

In addition, Compass also reported an increase of 429 principal agents compared to a year ago and a retention rate of over 90%. “We Greg Hart, Compass’ chief operating officer, added: “We continue to grow our principal agent count since we eliminated cash and equity sign on incentives last summer.

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Brokerage Principal Title Equity 343

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 103

Equity Finance Loans Closing costs 103

Realty Biz

MAY 25, 2022

A Home Equity Loan and a Home Equity Line of Credit (HELOC) are not the same thing. In general, a home equity loan is a better financial tool for most consumers. Both are ways to finance large expenses by borrowing against the equity in your home minus closing costs. Especially a HELOC. This is seldom a good idea.

Equity 95

Equity Loans Principal Finance 95

Housing Wire

MARCH 6, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Low issuance is caused by higher interest rates, resulting in lower Principal Limit Factors (PLFs), combined with the high upfront Mortgage Insurance Premium (MIP),” Kelly explained. Until the upfront MIP is restructured, it will keep origination volume down.

Mortgages 358

Mortgages Seller concession Principal Loans 358

Housing Wire

FEBRUARY 3, 2022

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. Another private-equity player in the MSR space is St.

Purchase and sale agreement 351

Purchase and sale agreement Marketing Equity Banks 351

Housing Wire

JUNE 14, 2022

Other contributing factors to the decline were rising home prices and the resulting equity gains providing alternative options to those who may be coming out of forbearance or facing foreclosures, said CoreLogic’s report. . About 2.7% of all mortgages in the U.S. were delinquent in March, dropping 2.2 percentage points from the 4.9%

Mortgages 335

Mortgages Staging Principal Equity 335

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 435

Finance Seller concession Loan Officer Loans 435

Housing Wire

FEBRUARY 15, 2024

While he only has access to the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) product, that doesn’t dampen the possibilities. So, preserving other assets by utilizing home equity is the other big thing.” They ask, ‘Am I going to run out of money? And then what am I going to do?’

Mortgages 353

Mortgages Banks Equity Land 353