Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officer 372

Loan Officer Loans Finance Mortgages 372

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing.

Finance 462

Finance Construction Loans Renovation 462

Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The second mortgage requires a monthly payment.

FHA loan 360

FHA loan Loans Mortgages Finance 360

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.

Finance 472

Finance Mortgages Commercial Lending 472

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall.

Loans 533

Loans Finance Mortgages Land 533

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor.

Finance 377

Finance Renovation Loans Lending 377

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

Loan Officer 402

Loan Officer Loans Mortgages Agents 402

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And

Equity 401

Equity Finance Purchase and sale agreement Investor 401

Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct.

Loans 430

Loans VA loan Finance Mortgages 430

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 432

Loans Investor Banks Finance 432

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 412

FHA loan Loans Finance Mortgages 412

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. a competing model that also incorporates trended credit bureau data.

Loans 399

Loans Mortgages Lending Finance 399

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 lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage.

Finance 397

Finance Mortgages Loans Staging 397

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA

VA loan 355

VA loan Loans Loan Officer FHA loan 355

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options.

Lending 369

Lending Banks Loans Renovation 369

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. of transactions.

Loans 428

Loans Title Commercial Closing 428

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. The lender has been pivoting to purchase mortgages and has been introducing products to court more borrowers.

Loans 386

Loans Mortgages Land Finance 386

Housing Wire

MARCH 3, 2022

Finance of America Companies on Wednesday told investors that it managed to increase in originations in 2021, but a more competitive landscape reduced margins and, consequently, the company’s net income. Finance of America funded $35.6 Margins in the mortgage business declined from 3.88% in 2020 to 2.86% in 2021.

Finance 374

Finance Investor Mortgages Commercial 374

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). Loan production expenses averaged around $7,389 per loan.

Loans 422

Loans Banks Mortgages Sales 422

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Industrial 504

Industrial Seller concession Purchase and sale agreement Agents 504

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.

Loan Officer 372

Loan Officer FHA loan Loans Mortgages 372

Housing Wire

NOVEMBER 17, 2023

CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. CBC Mortgage Agency is the provider of Chenoa Fund, a national DPA program that comes in a repayable and forgivable option.

Mortgages 392

Mortgages FHA loan Finance Loans 392

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 424

Loans Mortgages Banks Fixed-rate mortgage 424

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Loans 413

Loans Mortgages Lending Marketing 413

Maximum Exposure Real Estate

MARCH 26, 2024

Would you like to learn some of the best mortgage tips for first-time homebuyers? Considering that most people will finance a home’s purchase for a relatively significant amount, it makes sense to […] The post Home Loan Financing Advice For First Time Buyers appeared first on Maximum Real Estate Exposure.

Finance 122

Finance Loans Mortgages 122

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations.

Mortgages 431

Mortgages Title Loans Lending 431

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. There’s about 8,500 fix-and-flip mortgage lenders in the U.S. Faes & Co has also been involved with building a short-term mortgage lender in Ireland. LendInvest has more than $4.7

Finance 341

Finance Marketing Lending Loans 341

Housing Wire

SEPTEMBER 28, 2023

Jim Anderson Colorado-based lender Loan Simple brought on Jim Anderson as its new chief marketing officer. Anderson brings nearly seven years of experience in the mortgage industry with his latest stint as CMO at FoA. Prior to Finance of America, Anderson held CMO positions at Stearns Lending and Certainty Home Loans.

Loans 375

Loans Marketing Lending Finance 375

Housing Wire

MARCH 20, 2024

About 65 mortgage professionals have not transitioned from AmCap Home Loans to its acquirer, CrossCountry Mortgage (CCM), and rival New American Funding (NAF) has hired the AmCap personnel to expand its business in Texas, the lender announced last week. According to Inside Mortgage Finance , NAF was the 31st largest U.S.

Mortgages 396

Mortgages Loan Officer Loans Finance 396

Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

Technology 414

Technology Banks Mortgages Equity 414

Housing Wire

NOVEMBER 21, 2023

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , announced Monday a promotion related to the loan level pricing adjustment (LLPA) on agency mortgages for non-owner-occupied homes. 20, brokers will see a credit of 25 basis points for non-owner-occupied agency loans. billion in the previous quarter.

Loans 378

Loans Finance Mortgages As-is 378

Housing Wire

OCTOBER 2, 2023

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Monday raised agency conforming loan limits to $750,000, ahead of the Federal Housing Finance Agency’s (FHFA) decision expected in November. in 2024 (the current limit on conventional loans is $726,200). That’s only a 3% or 3.5%

Loans 430

Loans Mortgages Finance Land 430

Housing Wire

DECEMBER 9, 2020

trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while. “I I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado.

Loans 508

Loans Closing Loan Officer Mortgages 508

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. Academy has originated $5 billion in mortgage loans over the last 12 months ended in January, per mortgage tech platform Modex.

Mortgages 431

Mortgages Loan Officer Loans Finance 431

Housing Wire

MAY 2, 2022

HousingWire’s Housing Finance Leaders. Entering its second year, this year’s class spotlights the top finance executives who are driving financial performance and helping their businesses access the capital markets. VP, Capital Markets & Finance. Altitude Home Loans. Embrace Home Loans. Anchor Loans.

Finance 326

Finance Loans Title Lending 326

Housing Wire

MARCH 29, 2024

A passion for technology led her to work in the fintech and blockchain spaces, and she has now turned her attention to the senior finance space by founding a company called Graceful Finance. naturally exposing her more closely to the American reverse mortgage industry. But the problem is they’re cash-flow poor in relative terms.”

Mortgages 412

Mortgages Finance Loan Officer Equity 412

Housing Wire

OCTOBER 10, 2023

Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. It followed the announcement made by Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Oct.

Loans 360

Loans Banks Mortgages Finance 360