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 395

Loans Principal Lending Mortgages 395

Housing Wire

MAY 1, 2023

We’ve asked Phillip McCall, president and chief operating officer at ACES Quality Management , how lenders can keep up with new and upcoming regulations to maintain loan quality in this very competitive environment. Ensuring that creativity doesn’t compromise compliance takes serious research and constant QC system updating.

Loans 314

Loans Lending Technology Principal 314

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 405

Loan Officer Loans Mortgages Industrial 405

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 445

VA loan Loans Principal Mortgages 445

Housing Wire

APRIL 24, 2024

The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lender, and it is spearheaded by Ryan Schmidt, FAR’s vice president of partner engagement. With the right ambassador, that task is made simpler.

Mortgages 320

Mortgages Loan Officer Principal Loans 320

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. points from the 7.5%

VA loan 442

VA loan Agents Seller concession FHA loan 442

Housing Wire

OCTOBER 11, 2023

allows the company to improve its fee-based income as the deal includes the purchase of Specialized Loan Servicing LLC (SLS). “The The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 401

Principal Loans Investor Finance 401

Housing Wire

MARCH 21, 2024

to 135 loans in what RMI describes as a “seasonally bad month.” There are loans to be done here, but keep in mind that with how low volume has been the past two years at the higher expected rates, this isn’t something to build your business around.” to 107 loans), Finance of America Reverse (up 17.4% to 358 loans).

Mortgages 346

Mortgages Loans Equity Principal 346

Housing Wire

MARCH 2, 2023

Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. He joined Ginnie in March 2022 following a stint as supervising attorney advisor for the Federal Housing Finance Agency (FHFA).

Principal 311

Principal Finance Loans Mortgages 311

Housing Wire

MAY 25, 2021

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. Loan officers, too, sometimes have reservations about government-financed loans.

FHA loan 469

FHA loan VA loan Loans Loan Officer 469

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 401

Principal Loans Investor Industrial 401

Housing Wire

NOVEMBER 16, 2023

The CDFI certification is given by the Treasury Department CDFI Fund to lenders providing financial services to low-income communities and people who lack financing. But at least 60% of a lender’s financing must target these borrowers. On Wednesday, the parties notified Judge James Selna of the U.S

Lending 328

Lending Principal Finance Loans 328

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 360

Lending Loans Principal Equity 360

Housing Wire

NOVEMBER 3, 2023

The CDFI certification is a designation given by the Treasury Department CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 354

Lending Principal Finance Loans 354

Housing Wire

SEPTEMBER 1, 2023

Pennymac Loan Services and RoundPoint Mortgage Servicing reported this week their customers were exposed to a data breach through the Sovos Compliance software , per filings with the Attorney General in California. Pennymac Loan Services was ranked No. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31.

Principal 319

Principal Loans Mortgages Finance 319

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 402

Principal Loans Technology Mortgages 402

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 378

Bankruptcy Banks Pre-approval Principal 378

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 330

Marketing Principal Banks Loans 330

Realty Biz

DECEMBER 22, 2023

has just released its EMI Calculator, an efficient solution to simplify loan repayment planning. This tool benefits individuals and financial professionals, providing a simple method to compute monthly loan repayments. Prepayment Analysis : EMI calculators allow borrowers to evaluate the impact of prepayments on their loans.

Loans 90

Loans Principal Finance Banks 90

Bigger Pockets

FEBRUARY 5, 2023

Calculating the principal and interest on your loan helps you identify the actual cost of a property. If you have a $400,000 loan at a 30-year fixed rate of 5%, […]

Principal 85

Principal Mortgages Loans Finance 85

Housing Wire

SEPTEMBER 29, 2023

And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306 , according to Black Knight ’s mortgage monitor report.

Mortgages 497

Mortgages Principal Brokerage Finance 497

Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans.

VA loan 331

VA loan FHA loan Fixed-rate mortgage Principal 331

Housing Wire

FEBRUARY 6, 2023

He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. UWM originated $128 billion in 2022, per Inside Mortgage Finance estimates. Hubacker said in a statement he will enhance the CFO role and capabilities of UWM’s finance team as a “strategic business partner to the company.”

Principal 346

Principal Finance Mortgages Loans 346

Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Department of Housing and Urban Development (HUD) and principal executive vice president of Ginnie Mae.

Principal 321

Principal Development Finance Industrial 321

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.

Loans 288

Loans Marketing Due diligence Residential 288

Housing Wire

APRIL 14, 2023

During the first quarter, we successfully marketed mortgage servicing rights for approximately $50 billion of loans serviced for others that we expect to close later this year,” Santomassimo said. “We Wells Fargo’s total portfolio of loans serviced as of the end of the first quarter of 2023 totaled $666.8 billion as of yearend 2022.

Principal 398

Principal Loans Banks Mortgages 398

Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

Finance 348

Finance Principal Residential Development 348

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The government-sponsored enterprise will start accepting such loans immediately. The loan must be secured by a principal residence. Fannie Mae did not respond to a request to comment.

Principal 492

Principal Loans Banks Closing costs 492

Housing Wire

MAY 10, 2023

Rumors that Mr. Cooper was interested in Ann Arbor, Michigan-based Home Point spread prior to the latter selling its wholesale origination business to The Loan Store on April 7 and were amplified after. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. Mr. Cooper had 4.1 billion in 2022, a 71.6%

Equity 365

Equity Principal Mortgages Loans 365

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 417

Technology Development Title Lending 417

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 391

Loans Principal Mortgages Closing 391

Housing Wire

JUNE 3, 2021

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. Presented by: Computershare Loan Services. As of Freddie Mac’s most recent report , there are 1,154 securitized loans in forbearance, representing about 2.1%

Principal 475

Principal Finance Loans Equity 475

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 353

Principal Loans Lending Finance 353

Housing Wire

JANUARY 4, 2024

Endorsement volume falls slightly While not a pronounced drop, HECM endorsements fell 3% to end the month with 2,190 loans, but that general drop came with a few notable exceptions according to RMI. million of [unpaid principal balance (UPB)] that may not otherwise have been issued in December.” This represents $15.6

Mortgages 391

Mortgages Bankruptcy Principal Finance 391

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

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 331

Mortgages Marketing Banks Investor 331

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