Housing Wire

NOVEMBER 9, 2022

Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now. In September alone, IMBs slashed some 8,200 jobs, a recent Inside Mortgage Finance analysis of U.S. Charting the loan officer exit. Last night, my Uber driver was a loan officer.”

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. “It points from the 7.5%

VA loan 448

VA loan Agents Seller concession FHA loan 448

Housing Wire

APRIL 24, 2024

The company’s loan production pretax income was $35.9 Pennymac reported that the quarterly increase in production revenue was primarily tied to higher net gains on loans held for sale at fair value due to higher volumes in its direct-to-consumer channel. The total value of its loan acquisitions and originations dropped to $21.7

Lending 399

Lending Loans Principal Mortgages 399

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 434

Technology Development Title Lending 434

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 363

Mortgages Marketing Banks Investor 363

Housing Wire

JULY 21, 2022

With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples.

Bankruptcy 390

Bankruptcy Banks Pre-approval Principal 390

Housing Wire

JANUARY 30, 2024

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 362

Marketing Principal Banks Loans 362

Housing Wire

JUNE 28, 2022

Kiavi , formerly LendingHome , recently closed a $218 million private-label securitization of unrated short-term mortgages — described as “residential transition loans” (RTLs) by the lender, which serves the fix-and-flip market. billion in originations, up nearly 78% from 2020, according to a recent report by Inside Mortgage Finance (IMF).

Investor 305

Investor Principal Loans Lending 305

Housing Wire

APRIL 27, 2023

Financial wellness technology company EarnUp reached a new milestone last quarter, helping millions of Americans schedule mortgage, auto, and student loan payments through its Payday to Payday program and technology. Lending and servicing organizations turn to EarnUp to reduce risk and streamline operations.

Technology 330

Technology Lending Principal Loans 330

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 385

Mortgages Loan Officer Lending Principal 385

Housing Wire

MARCH 3, 2022

. “Whether it is a natural disaster, a job loss, or an illness, forbearance is wildly effective,” John Lawrence, executive vice president of the Texas-based servicer Selene Finance , said last week during the Mortgage Bankers Association (MBA) Servicing Conference in Orlando. So, it may start to come down.

Principal 367

Principal Loans Lending Finance 367

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 459

Banks Lending Loans Principal 459

Housing Wire

JANUARY 10, 2022

Currently, the lender ranks sixth place among the top wholesale lenders in the nation, though its rebranding could signal that PennyMac is looking to increase its market share in the wholesale lending space. In the wholesale lending space, there has been a notable push to entice brokers to come onboard. As of Sept.

Principal 364

Principal Lending Loans Technology 364

Housing Wire

OCTOBER 12, 2021

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. Additionally, the lawsuit claims that PNC’s practices violated the Maryland Consumer Protection Act (MCPA).

Banks 367

Banks Principal Loans Lending 367

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

NOVEMBER 2, 2023

billion in sold loans through its direct-to-consumer channel, down from $12.4 Rocket’s servicing book unpaid principal balance, which includes subserviced loans, was $506 billion as of Sept. million loans serviced at the end of the third quarter, generating $1.4 billion of unpaid principal balance to its portfolio.

Principal 412

Principal Loans Technology Mortgages 412

Housing Wire

AUGUST 8, 2023

“While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said. million.

FHA loan 335

FHA loan Principal Lending Loans 335

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. It’s also made a push to hire teachers and first responders to be loan officers.

Mortgages 312

Mortgages Investor Loan Officer Principal 312

Housing Wire

OCTOBER 2, 2023

Purchase loans comprised about 82% of overall mortgage lending in 2023 and ICE forecasts purchase lending to continue to dominate the market through next year. The high-interest rate environment continues to put downward pressure on mortgage origination activity.

Mortgages 405

Mortgages Equity Lending Principal 405

Housing Wire

OCTOBER 31, 2022

“The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report.

Industrial 347

Industrial Mortgages Principal Loans 347

Housing Wire

JULY 20, 2023

The consensus is that the change would primarily affect the shrinking jumbo market (loans greater than $726,200) and hurt regional banks , sources said. So, even there, George’s team assumes only a few loans would fall into this category of high LTV, ultimately having higher capital requirements.

Mortgages 349

Mortgages Banks Marketing Residential 349

Housing Wire

MARCH 7, 2024

Michael Warden , managing principal and CEO of Invictus Capital Partners — one of the largest players in the nonqualified mortgage (or private-label) securitization space via Verus Securitization Trust — is also quite bullish on the future of private capital in the mortgage market. And future rate cuts mean less return [for investors].

Investor 382

Investor As-is Commercial Equity 382

Housing Wire

SEPTEMBER 19, 2022

A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. In terms of demographics, in a more competitive marketplace, minority borrowers grew in their share of total loans closed. Black borrowers’ share of home purchase loans increased to 7.9% to 7.1%. .

Marketing 365

Marketing Loans Principal Mortgages 365

Housing Wire

FEBRUARY 28, 2024

mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. billion in closed loan volume last year , down from $133.1 billion in home loans, compared to $29.7 Most of UWM’s volume was purchase loans, representing $93.8 billion in the previous year.

Loans 408

Loans Principal Mortgages Closing 408

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

Realty Biz

MARCH 7, 2023

Suppose you’re set on financing your first home in 2023. Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. How do lenders determine your income and eligibility for a loan? Lenders grant loans and mortgages based on your area’s median income!

Loans 74

Loans Debt-to-income ratio Closing costs Lending 74

Housing Wire

MAY 27, 2022

All lenders must explain their rationale when denying credit to loan applicants, the Consumer Financial Protection Bureau affirmed Thursday, after looking into whether companies claiming exemption because they rely on “complex algorithms” were in violation of federal anti-discrimination law. There is no exception,” it added.

Lending 414

Lending Principal Technology Mortgages 414

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 335

Marketing Debt-to-income ratio Loans Mortgages 335

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. .

Fixed-rate mortgage 366

Fixed-rate mortgage Mortgages Loans Loan Officer 366

Housing Wire

OCTOBER 26, 2023

New York-based Rithm Capital’s profits declined in the third quarter of 2023, when the real estate investment trust got involved in a dispute for Sculptor Capital Management and announced the acquisition of Specialized Loan Servicing. ” Expectations for servicing Loan servicing contributed $444.5 million in Q2.

Principal 385

Principal Loans Mortgages Banks 385

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Loan production Spector told analysts that the company’s multichannel approach to production enables consistent access to the origination market in the current high-rate environment. Pennymac’s total loan acquisitions and originations reached $25.1 million in Q2 2023.

Fixed-rate mortgage 392

Fixed-rate mortgage Principal Banks Loans 392

Housing Wire

MAY 13, 2024

The complaint filed by a couple alleges that the company and a mortgage banker denied a mortgage loan application based on race for a single-family home located within the boundaries of the Flathead Indian Reservation in Saint Ignatius, Montana. The effective date for the new rule is June 18.

Lending 326

Lending Land Principal Finance 326

Housing Wire

FEBRUARY 7, 2023

Driving home the concern over MSR pricing declines is a recent advisory bulletin issued by the Federal Housing Finance Agency (FHFA), which overseas Fannie Mae and Freddie Mac. If they sell loans without retaining servicing, the value of the loans sold to aggregators also will decline if MSR values decline.

Investor 298

Investor Finance Loans Mortgages 298

Housing Wire

FEBRUARY 1, 2023

It varies a little bit based on loan amount and interest rate but … a pretty good rule of thumb is a [2-1] buydown will typically cost the seller about 2.25 percentage points of the loan amount,” Nunziata said.

Marketing 404

Marketing FHA loan Loans Mortgages 404

Housing Wire

FEBRUARY 8, 2022

We service their loans. Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. The company serves a $50 billion loan portfolio. We know who the borrowers are.

Loans 362

Loans Pre-approval Mortgages Principal 362

Housing Wire

AUGUST 9, 2023

billion in mortgage loans in the second quarter of 2023 “despite a historic decline in industry-wide origination volume during 2023,” according to Ishbia. The wholesale lender originated $28 billion in purchase loans in the second quarter, an increase from $19.2 UWM originated $31.8 Originations in Q2 2023 came higher than the $22.3

As-is 370

As-is Principal Mortgages Loans 370

Housing Wire

JULY 27, 2021

The CSBS liquidity requirements also conform to the requirements the Federal Housing Finance Agency already has. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 370

Principal Banks Mortgages Loans 370