Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans.

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Loans Title Commercial Closing 450

Housing Wire

MARCH 18, 2022

Veteran mortgage executive Bill Dallas has left his position as president of Finance of America Mortgage amid larger changes to the Texas-based nonbank lender’s C-Suite and business lines. His exit was first reported by Inside Mortgage Finance. Presented by: Finance of America. Last year, the lender funded $35.6

Finance 479

Finance Mortgages Commercial Lending 479

Housing Wire

JANUARY 9, 2024

Ohio-based mortgage lender CrossCountry Mortgage has adopted the updated credit scoring model FICO Score 10 T to support origination of non-conforming loans and issue mortgage-backed securities (MBS), the company announced on Tuesday. a competing model incorporating trended credit bureau data.

Loans 441

Loans Investor Mortgages Lending 441

Housing Wire

NOVEMBER 1, 2023

Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. He added that Splitero was looking for other investors and hinted that the company would have some good news to share soon. During a phone interview with HousingWire on Oct.

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Housing Wire

JUNE 15, 2023

National mortgage loan subservicer Cenlar FSB announced on Thursday that it has named the Thomas Donatacci as its investor relations officer. He is expected to strengthen Cenlar’s relationships with stakeholders in this role, including agency investors, shareholders, clients, and rating agencies. territories.

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Investor Due diligence Loans Banks 369

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago for us, fix and flip [loan interest] was probably 6.5%, but today, you’re probably getting between 10% and 12%,” Lind said.

Finance 370

Finance Marketing Lending Investor 370

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. Finance of America, says its collection of companies has originated over $65 billion in loans since 2017. Finance of America operates through retail, wholesale and correspondent channels.

Finance 491

Finance Lending Loans Commercial 491

Housing Wire

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

Loans 384

Loans Purchase and sale agreement Investor Finance 384

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The new product, called EquityAvail, funds at closing and requires that the borrower make payments for 10 years but at a reduced amount, Finance of America Reverse said this week.

Finance 397

Finance Mortgages Loans Staging 397

Housing Wire

JANUARY 19, 2023

As financial institutions weather this shift in the market, every loan opportunity becomes more critical than the last. The survival tactic lenders too often miss is doubling down on loan quality to ensure immediate salability to investors or long-term servicing performance.

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Loans Lending Investor Mortgages 397

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million in unpaid principal balance; pool 2 is at $342.5

Loans 384

Loans Purchase and sale agreement Principal Due diligence 384

Housing Wire

SEPTEMBER 21, 2023

The credit risk analytics will combine ICE’s physical climate risk data and DeltaTerra’s climate analytics, financial risk models, and market data to deliver risk impact estimates for investors in the residential and commercial mortgage-backed securities markets. Our climate risk data can help inform investment decisions of U.S.

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Investor Commercial Residential Finance 234

Housing Wire

AUGUST 17, 2022

Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”. million profit during the same period in 2021.

Loans 421

Loans Investor Mortgages Title 421

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

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Loan Officer Loans Mortgages Agents 421

Housing Wire

MARCH 23, 2023

The bank crisis has also reduced the spread between conforming and jumbo loan rates. Mortgage industry experts believe the current turbulence has potential to hit the jumbo space harder, mainly due to a reduced investor appetite in the secondary market and banks’ tightened financial conditions for borrowers.

Loans 432

Loans Mortgages Banks Fixed-rate mortgage 432

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

Loans 441

Loans Banks Residential Finance 441

Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . Also, purchase loan origination grew 4% quarter over quarter. Finance of America shares closed at $2.46 on Monday, down 1.20% from the previous close.

Finance 370

Finance Commercial Mortgages Investor 370

Housing Wire

JANUARY 5, 2022

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

Loans 520

Loans Finance Mortgages Title 520

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. Because Gastelum’s client started a new job within 30 days, an underwriter at Nova decided that there was no interruption to his income and approved the loan.

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Loan Officer FHA loan Loans Mortgages 397

Housing Wire

DECEMBER 16, 2021

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

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Due diligence Loans Investor Mortgages 397

Housing Wire

APRIL 2, 2021

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. To coincide with the IPO, institutional investors have pledged to make a private investment of $250 million in the company. According to Inside Mortgage Finance, FOA was the 26th largest mortgage originator by volume in 2020.

Finance 361

Finance Closing Investor Mortgages 361

Bigger Pockets

SEPTEMBER 22, 2023

Is a jumbo loan a good option for real estate investors? We'll explain what is a jumbo loan and provide some pros and cons for this financing option.

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Investor Loans Finance Mortgages 106

Housing Wire

AUGUST 11, 2022

In an additional note of caution looking forward, the lender’s SEC filing indicates that it cannot guarantee requests for future loan-covenant amendments or waivers will be agreed to by its lenders, “in which case we would be in default under these agreements.”. ” The lender wrote in its SEC filing that as of June 30, it had $90.8

Loans 397

Loans Principal Lending Mortgages 397

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

FEBRUARY 10, 2023

Black Knight has decided to sell its loan origination software business Empower in a bid to save the $13 billion deal with Intercontinental Exchange Inc (ICE), Reuters reported , citing sources familiar with the matter. lawmakers and trade groups over antitrust issues.

Loans 370

Loans Technology Mortgages Sales 370

Housing Wire

DECEMBER 5, 2023

When individual mortgages are originated by lenders like banks or credit unions , they may bundle groups of these mortgages together into financial vehicles called mortgage-backed securities (MBS) that are then sold to investors on a secondary market. This ensures their bundle retains its credit rating and market value.

Technology 431

Technology Mortgages Loans Investor 431

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 billion in mortgages in 2023.

Mortgages 440

Mortgages Banks Marketing Commercial 440

Housing Wire

JANUARY 29, 2021

Over the past six months, mergers and acquisitions, huge financing rounds and public offerings have dominated headlines across the real estate and housing finance sector. This level of action is keeping finance executives like Jeremy Collett , Executive Director, Capital Markets at Guaranteed Rate busier than ever.

Finance 348

Finance Industrial Mortgages Loans 348

Realty Biz

SEPTEMBER 18, 2021

Hard money lenders generally don’t value real estate in the same ways as most investors and other real estate professionals. Hard money loans can be easier to get, but they can be expensive. Despite the cost, they’re an essential tool for investors. As an investor, you should know your local market inside out.

Hard money loan 132

Hard money loan Finance Loans Investor 132

Bigger Pockets

JANUARY 22, 2024

The program allows you to receive a partial down payment loan with no interest. We'll explain how it all works and if it's a smart move for investors.

Investor 109

Investor Finance Loans 109

Housing Wire

FEBRUARY 12, 2024

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. It also has a niche in construction and manufactured home loan programs. The financials of the deal were not disclosed.

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Lending New Construction Construction Finance 427

Housing Wire

DECEMBER 13, 2023

It also has been a brutal year for the secondary market that creates liquidity for mortgage lenders as greatly reduced mortgage originations, liquidity challenges and interest rate volatility have played havoc in the whole-loan trading as well as the private-label and agency securitization channels. “The

Mortgages 409

Mortgages Marketing Banks Investor 409

Housing Wire

APRIL 23, 2024

Investor interest, product offerings When asked about investor interest, Krajewski said that partners are eager about the prospect of more companies entering the reverse mortgage business — especially firms that are well known to them. Too often, forward loan officers are just focused on their real estate agent partners.

Mortgages 410

Mortgages Loan Officer Investor Lending 410

Bigger Pockets

OCTOBER 30, 2023

As a real estate investor, you should know about all your loan options. Secured and unsecured loans are the main types, and smart investors understand how to use both to their advantage.

Loans 109

Loans Investor Finance Mortgages 109

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. After the merger, Finance of America is slated to receive a $250 million investment from institutional investors. billion valuation.

Finance 261

Finance Lending Commercial Title 261

Inman

JUNE 6, 2023

Bridge loans offer investors a quick and flexible way to finance an investment property, but they come with some disadvantages, writes Luke Babich, chief sales officer at Clever Real Estate.

Loans 147

Loans Investor Finance Sales 147

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

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Loans Marketing Due diligence Residential 395