Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Investment firm Davidson Kempner Capital Management is a co-investor. primary mortgage servicer at the end of June, handling $166.7

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Investor Mortgages Banks Principal 476

Housing Wire

MARCH 20, 2025

fell in 2024, continuing a downward trend as real estate investors grapple with tight profit margins. Home Flipping Report, investors flipped 297,885 single-family homes and condominiums last year. The home-flipping industry saw investors shy away even more in 2024 amid the extended period of languishing profits. a year earlier.

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FHA loan Investor Finance Renovation 329

Housing Wire

OCTOBER 25, 2024

In this HousingWire Executive Conversation, Tom Davis, Chief Sales Officer at Deephaven , discusses the opportunities in the non-QM investor loan space as we head into the new year. Tom Davis: Investor transactions are still close to 28% of the overall purchase market. Many investors prefer to close in the name of an LLC.

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Investor New Construction Construction Loans 448

Housing Wire

NOVEMBER 4, 2024

With mortgage rates back into the 7% range and several consecutive weeks of reduced demand , Rocket Mortgage is making what appears to be a volume play. The announcement comes shortly after United Wholesale Mortgage (UWM) extended its Refi75 incentive through Nov. Rocket’s new offering debuts roughly one a week ahead of its Nov.

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FHA loan Mortgages Marketing Loans 370

Housing Wire

APRIL 28, 2025

The acquisition is expected to generate $200 million in run-rate synergies by 2027 through streamlining operations and expanding cross-sell opportunities in mortgage, title, and real estate services. billion in loans in 2021nearly 10 times Redfins in-house mortgage volume. billion, according to Inside Mortgage Finance data.

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Loan Officer Equity Loans Brokerage 394

Housing Wire

JANUARY 28, 2025

Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. It’s a complete financing solution that helps us ramp up and scale our production in the BPL sector.

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Residential Lending Finance Banks 361

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. But let’s suppose all that occurs. It’s a bad idea.

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Finance Agents FHA loan Closing costs 448

Housing Wire

FEBRUARY 13, 2025

We packaged those loans into mortgage-backed securities (MBS) that attracted investors from around the world to support U.S. Fifty-two percent of the primary home purchases Freddie financed went to first-time homebuyers, and 53% of all the home loans it financed were affordable to low- and moderate-income families.

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Finance Loans Mortgages Investor 398

Housing Wire

MAY 6, 2024

Finance of America Companies (FOA) announced on Monday that its reverse mortgage brands — Finance of America Reverse (FAR) and American Advisors Group (AAG) — will be consolidated under the singular Finance of America brand going forward. That’s the case for employees, wholesale partners and even investors.

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Branding Finance Equity Mortgages 468

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

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Debt-to-income ratio Agents VA loan MLS 321

Housing Wire

JUNE 20, 2024

Finance of America (FOA), the leading U.S. reverse mortgage lender, has received shareholder approval upon recommendation of its board to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price. 1 lender in the country with 7,784 endorsements in the 12-month period ending on May 31, 2024.

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Finance Investor Mortgages Equity 459

Housing Wire

FEBRUARY 10, 2025

Charlotte-based mortgage lender Cardinal Financial on Monday launched a new product suite to help mortgage brokers reach nontraditional borrowers. The lender’s wholesale division is now offering a nonqualified mortgage ( non-QM ) loan product suite aimed at serving consumers who have outside-the-box financial profiles.

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Loans Finance Investor Mortgages 321

Housing Wire

JUNE 5, 2024

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National Mortgage News. As of late-day trading on Wednesday, the price currently sits at $0.59.

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Finance Sales Equity Mortgages 482

Housing Wire

APRIL 14, 2025

Better Home & Finance Holding Co. the parent of digital mortgage lender Better.com has restructured about $534 million of its outstanding debt with SB Northstar , the asset management subsidiary of SoftBank , the company announced on Monday. Better is also making a one-time cash payment of $110 million.

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Equity Loans Finance Investor 325

Housing Wire

JANUARY 30, 2025

In this week’s episode of the Power House podcast, host and HousingWire President Diego Sanchez chats with Tom Davis , chief sales officer at Deephaven Mortgage. Diego: We’ve kicked off 2025 with mortgage rates that haven’t done much except go a little bit higher. A lot of folks were expecting a decline in 2025.

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New Construction Construction Marketing Equity 312

Housing Wire

MARCH 20, 2025

It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. Essentially, it’s the holy grail of mortgage and real estate tech.

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Mortgages Loan Officer Brokerage Loans 261

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.

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Lending Loan Officer Banks Loans 448

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. Moreover, the prolonged high-interest-rate environment is leading to lower refinancing rates, which extends the duration of cash flows that investors can expect from these assets.

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Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

JANUARY 22, 2025

For those who are struggling to repay their mortgages, the process aims to help them avoid foreclosure and retain their home equity. Auction.com has long been a leading platform for bank-owned (REO) and foreclosure sales to real estate investors and others seeking a discount.

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Proof of funds Equity Technology Banks 370

Housing Wire

SEPTEMBER 4, 2024

Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement. The firm hired Brendan Bosman, a former senior managing director and head of U.S.

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Finance Residential Investor Lending 448

Housing Wire

NOVEMBER 21, 2024

After tumbling over the past few months, existing-home sales are giving real estate and mortgage professionals a reason to smile. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.” month over month in October to 3.96

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Sales Finance Investor Mortgages 370

Housing Wire

JULY 18, 2024

launched on Wednesday to serve international investors in U.S. real estate with a fast, digital mortgage process. Investors can partner with a real estate agent , mortgage broker or turnkey provider to locate a property of their choice. Miami -based startup Waltz Inc. A digital U.S.

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Finance Investor Banks Residential 448

Housing Wire

APRIL 1, 2024

Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream. The market, however, is expected to grow as HEI companies seek to partner with mortgage lenders and real estate brokerages.

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Equity Finance Purchase and sale agreement Investor 468

Housing Wire

FEBRUARY 6, 2025

Rithm Capital , which owns multichannel mortgage lender Newrez , built upon its success in 2023 with net income of $835 million in 2024. according to Inside Mortgage Finance (IMF). Rithm delivered strong and consistent performance in each of its core businesses, creating value for investors and shareholders.

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Loans Equity Principal Mortgages 406

Housing Wire

AUGUST 16, 2024

housing market may have slowed during the second quarter of the year, investors did not take their foot off the gas. The number of home purchases by investors rose 3.4% during the same period, which Redfin attributed to elevated mortgage rates and home prices. Although the U.S. In comparison, total U.S. home purchases fell 1.9%

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Investor Lending Equity Mortgages 468

Housing Wire

APRIL 30, 2025

mortgage market.” ” Fannie’s continued profits come as the mortgage industry itself struggles. The Mortgage Bankers Association reported the average IMB reported a pre-tax net loss of $40 on each loan they originated in the fourth quarter. during the quarter, slightly up from 6.6% in the last quarter.

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Loans Mortgages Finance Investor 282

Housing Wire

SEPTEMBER 25, 2024

Meanwhile, sellers who locked in a record-low mortgage rate of 3% or less during the pandemic have been reluctant to sell, limiting supply further and leaving fewer options for would-be buyers. This is an interesting statistic to watch because foreign investors face different barriers to buying than their domestic counterparts.

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Investor New Construction Construction Residential 448

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.

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Investor Bankruptcy Finance Equity 448

Housing Wire

MARCH 21, 2025

’ In a presentation for investors , Rocket outlined how its acquisition of Redfin will help the company create a more seamless and affordable way for consumers to transact real estate, showing how it will take consumers from the home search phase all the way through title and closing. But Zillow has that recognizable consumer brand.

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Loan Officer Loans Mortgages Title 281

Housing Wire

FEBRUARY 28, 2025

Florida-based non-QM lender A&D Mortgage on Friday announced an offering of $458.9 million in residential mortgage-backed securities ( RMBS ), calling it another milestone in the companys commitment to expanding financing solutions for borrowers with diverse income streams.

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Mortgages Loans Residential Banks 231

Housing Wire

MARCH 26, 2024

The risky operating environment has been marked by volatile, high interest rates (with 30-year fixed rates now hovering around 7%), high financing costs and moderating rental rates as an influx of multifamily rental properties continues to come online across the country. million households formed each year.”

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Investor Marketing Construction Loans 482

Housing Wire

MAY 31, 2024

A new report from the Government Accountability Office (GAO) concluded that while institutional investors may have contributed to rising home prices since 2009, the actual impact they have had on homeownership opportunities is more difficult to assess.

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Investor Lending Construction Technology 463

Housing Wire

APRIL 10, 2025

Millions of homeowners are locked into 23% mortgage rates and simply wont sell, creating a chain reaction thats grinding the entire system to a halt. Its the result of a uniquely American mortgage structureone that unintentionally punishes mobility and paralyzes housing supply. Mortgage originations have dropped off a cliff.

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Design Marketing Fixed-rate mortgage Finance 249

Housing Wire

MARCH 4, 2025

Top five reverse mortgage lender Finance of America (FOA) announced on Tuesday the hiring of two new executive leaders to modernize the companys digital and customer experience strategies. “These executive appointments are crucial for Finance of Americas objective to redefine the reverse mortgage experience.

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Technology Equity Finance Mortgages 304

Housing Wire

DECEMBER 10, 2023

Are big Wall Street investors really buying 44% of homes this year? Housing inventory is near all-time lows, but big institutional investors like Invitation Homes or BlackRock aren’t to blame. You can see the percentage of home-buying by big investors — those with 1,000 properties or more — is tiny. of market share in Q2.

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Investor As-is Marketing Closing 544

Housing Wire

NOVEMBER 21, 2024

UBS analyst Douglas Harter recently made waves after he took a closer look at the stock of reverse mortgage industry leader Finance of America (FOA). But on a longer-term basis, there is likely to be more appreciation owing to the demographics working in the reverse mortgage industry’s favor.

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Bankruptcy Finance Equity Mortgages 368

Housing Wire

OCTOBER 25, 2024

Mortgage technology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. Novaprime is starting with post-close quality control functions and working backwards. That adds up.

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Loans Investor Closing Lending 434