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

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. That’s 20 basis points higher than the international standard.

Mortgages 367

Mortgages Banks Marketing Residential 367

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 441

Technology Development Title Lending 441

Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Principals of the private holding company StoicLane led the round, the firms said on Wednesday. The holding company will invest in finance, insurance, and real estate businesses. The post Interfirst Mortgage raises $175 million appeared first on HousingWire.

Mortgages 349

Mortgages Investor Loan Officer Principal 349

Housing Wire

OCTOBER 31, 2022

This is projected to be a record year for consolidation among mortgage lenders, largely due to the dramatic shift from a refinance boom to a purchase mortgage market and the total origination volume, which has shrunk to about half the size from 2021. Presented by: Selene Finance.

Industrial 373

Industrial Mortgages Principal Loans 373

Housing Wire

APRIL 24, 2024

billion in unpaid principal balance (UPB), down 19% on a quarterly basis and 5% below year-ago levels. During an earnings call on Wednesday, chief financial officer Daniel Perotti said that “Pennymac maintained its dominant position in correspondent lending in the first quarter” as it acquired $18 billion in volume.

Lending 412

Lending Loans Principal Mortgages 412

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

Loans 442

Loans Title Finance Lending 442

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 450

VA loan Agents Seller concession FHA loan 450

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Loans 488

Loans Principal Mortgages Real-estate owned 488

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Realtor.com expects mortgage rates to reach 7.1% by the year-end.

Mortgages 414

Mortgages Residential Principal Lending 414

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. He also contends in his court pleadings that the amounts advanced under the warehouse lines are secured by “mortgage loans, cash and related collateral.”. Creating an invincible lending strategy refresh amid chaos. Financial Group LLC.

Bankruptcy 393

Bankruptcy Banks Pre-approval Principal 393

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 393

Banks Mortgages Loans Equity 393

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 392

Marketing Principal Banks Loans 392

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 489

Banks Lending Loans Principal 489

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics. So, it may start to come down.

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Principal Loans Lending Finance 370

Housing Wire

MARCH 7, 2024

“And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investor 407

Investor As-is Commercial Equity 407

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 380

Banks Principal Loans Lending 380

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. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago. in 2005, the MBA said.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

AUGUST 11, 2022

Mortgage lender loanDepot , based in Orange County, California, has more bad news tucked away in its latest quarterly earnings report filed with the U.S. We generate a sizeable portion of our revenues from refinance and purchase mortgages,” loanDepot’s SEC filing states. “As million, following on the heels of $91.3 billion.

Loans 393

Loans Principal Lending Mortgages 393

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 379

Principal Lending Loans Technology 379

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 343

Investor Principal Loans Lending 343

Housing Wire

MAY 1, 2023

With lenders stretching the credit box and originating unfamiliar products, all in a rising rate environment, the potential of originating high-cost mortgages and higher-priced mortgage loans becomes more prevalent as well. Both are highly regulated at both the state and federal level. And not just at the federal level.

Loans 373

Loans Lending Technology Principal 373

Housing Wire

NOVEMBER 2, 2023

Amid the most challenging mortgage market in decades, Rocket Companies , the parent of Rocket Mortgage , remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels. billion of unpaid principal balance to its portfolio. By channel, Rocket reported $11.9

Principal 414

Principal Loans Technology Mortgages 414

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 363

Technology Lending Principal Loans 363

Housing Wire

SEPTEMBER 9, 2021

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. From ordering food to buying goods to managing their finances, consumers can do it all from the palm of their hand, without ever having to leave their house. Why should the mortgage process be any different?

Mortgages 413

Mortgages Technology Inspection Closing 413

Housing Wire

AUGUST 8, 2023

The California-based mortgage lender had its second consecutive double-digit revenue gain amid increasing origination volumes and margins. Changes in leadership came with the decision to consolidate LDI Digital, including mellohome, into its existing production channels, under the direction of LDI Mortgage President Jeff Walsh.

FHA loan 361

FHA loan Principal Lending Loans 361

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. Creditors who use complex algorithms — including artificial intelligence or machine learning technologies — to engage in credit decisions must still provide a notice that discloses the specific, principal reasons for taking adverse actions,” CFPB said in a news release.

Lending 414

Lending Principal Technology Mortgages 414

HomeLight

DECEMBER 27, 2023

Speaking with a mortgage lender — or several — before you buy a home shows that you’re a serious consumer, but talking with one of these experts before you sell a house also has several benefits. That starts with determining what it will take to pay off your mortgage. Learn More 1.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

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

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns. million in the previous quarter.

Loans 414

Loans Principal Mortgages Closing 414

Housing Wire

JULY 29, 2022

HousingWire: With rising rates and dramatically lower refi volume, mortgage companies across the industry now have to do more with less to be profitable and competitive. What’s a potentially overlooked opportunity for lenders to stand out in their origination offerings and increase efficiencies?

Principal 391

Principal Branding Lending Mortgages 391

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. That total has been rising every year since 2018, with specialist nonbank mortgage lenders gaining prominence as depository lenders pull back. The top 25 lenders grew to 43.9% in 2020, the CFPB report found.

Marketing 370

Marketing Loans Principal Mortgages 370

HomeLight

NOVEMBER 6, 2023

Skyrocketing mortgage interest rates can make homeownership seem like an elusive dream. For some home shoppers, there’s a potential solution: assumable mortgages. Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate. VA funding fee.

FHA loan 103

FHA loan VA loan Mortgages Marketing 103

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. It is possible that the 30-year fixed mortgage rate may settle down at 5.5%

Marketing 302

Marketing Loan Officer Mortgages Lending 302

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept. As of Sept.

Fixed-rate mortgage 410

Fixed-rate mortgage Principal Banks Loans 410

Housing Wire

MAY 13, 2024

Rocket Mortgage , the third largest U.S. mortgage lender, has entered into a conciliation agreement with the U.S. Consequently, the borrowers got a mortgage from another lender on less favorable terms and higher interest rates. McCain, HUD’s principal deputy secretary for fair housing and equal opportunity, said in a statement.

Lending 364

Lending Land Principal Finance 364