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. Last year, the lender funded $35.6

Finance 465

Finance Mortgages Commercial Lending 465

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. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire.

Finance 345

Finance Marketing Lending Loans 345

Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

Loans 542

Loans VA loan FHA loan Finance 542

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 321

Loans Lending Finance Renovation 321

Housing Wire

JULY 12, 2023

Three veteran sales executives at Movement Mortgage have parted ways with the South Carolina-based lender to join the competitor Summit Funding, sources told HousingWire. Deran Pennington, who spent the last 15 years at Movement and until June 2023 held a national sales director position, is joining Summit as a divisional leader in Charlotte.

Sales 370

Sales Lending Loans Finance 370

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million; and pool 3, $312.9

Loans 380

Loans Purchase and sale agreement Principal Due diligence 380

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

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

Loans 380

Loans Purchase and sale agreement Investor Finance 380

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 364

Loans Purchase and sale agreement Due diligence Industrial 364

Housing Wire

AUGUST 4, 2022

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout. Spreads on both agency and non agency mortgages increased to new highs in a matter of weeks,” Johan Gericke, CFO of Finance of America, told analysts. on Thursday, down 1.5%

Finance 390

Finance Commercial Mortgages Closing 390

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. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

Loan Officer 398

Loan Officer Loans Mortgages Agents 398

Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. division Chris Shelton parted ways after more than a decade working at the company to join Summit. Shelton declined to comment. million in unpaid compensation.

Loan Officer 335

Loan Officer Sales Loans Mortgages 335

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. In the past year, there was roughly $12 billion in sales of manufactured homes. billion in the second quarter from $53.8

Loans 384

Loans Mortgages Land Finance 384

Housing Wire

OCTOBER 31, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach reduced employee headcount by at least 20 this month as the industry struggles to stay afloat amid mortgage lenders rightsizing during one of the most challenging times. Sales Boomerang and Mortgage Coach declined to comment on the size and reason for the layoffs.

Sales 394

Sales Mortgages Loan Officer Loans 394

Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . Meanwhile, gain-on-sale margins declined from 3.41% in Q1 2021 to 2.52% in Q4 2021 and then to 2.11% in Q1 2022. Also, purchase loan origination grew 4% quarter over quarter.

Finance 364

Finance Commercial Mortgages Investor 364

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

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago for us, fix and flip [loan interest] was probably 6.5%, but today, you’re probably getting between 10% and 12%,” Lind said.

Finance 362

Finance Marketing Lending Investor 362

Housing Wire

FEBRUARY 10, 2023

Black Knight has decided to sell its loan origination software business Empower in a bid to save the $13 billion deal with Intercontinental Exchange Inc (ICE), Reuters reported , citing sources familiar with the matter. to explore the sale of Empower, which received the green light from ICE, according to the outlet.

Loans 353

Loans Technology Mortgages Sales 353

Housing Wire

JUNE 12, 2023

Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. While rate locks on purchase loans rose from April, they also dipped to their lowest level yet relative to 2018 and 2019 averages as rates rose late in the month,” Andy Walden , vice president of enterprise research at Black Knight, said.

Loans 408

Loans Mortgages Lending Marketing 408

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 543

Loans Banks Equity Closing costs 543

Eye on Housing

AUGUST 3, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% Conventional loans financed 73.7%. in the second quarter of 2023. Read More ›

FHA loan 96

FHA loan Loans Sales Finance 96

Housing Wire

MAY 9, 2024

The quarter’s positive performance was supported by increased origination volumes at improved margins and servicing sales, which resulted in a non-GAAP net income of $141 million from January to March, compared to a $361 million loss in the previous quarter. billion in closed loan volume from January to March.

Sales 238

Sales Principal Loans Mortgages 238

Housing Wire

DECEMBER 16, 2021

It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. Glenn sent an email to loan officers stating that their base salaries would, in fact, not be reduced.

Loan Officer 371

Loan Officer Loans Lending Mortgages 371

Housing Wire

MAY 18, 2023

On average, IMBs reported a net loss of $1,972 on each loan originated from January to March, a 35% improvement from the reported loss of $2,812 per loan in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA). It’s not all bad news, however.

Loans 372

Loans Banks Mortgages Industrial 372

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. “I’ve always been passionate about helping loan officers grow their business to serve more families in our communities.

Sales 335

Sales Loan Officer Lending Residential 335

HomeLight

MAY 8, 2024

Are you considering a hard money loan to fast-track your next real estate investment? Whether you’re planning to flip a house or purchase a rental property, a streamlined hard money loan can be a helpful option. You can then make a strong offer on your next home with no home sale contingency. What is a hard money loan?

Hard money loan 101

Hard money loan Loans Home sale contingency Finance 101

Housing Wire

AUGUST 17, 2023

Independent mortgage banks (IMB) reported an average net loss of $534 on each loan originated from April to June, down from $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association (MBA). The volume by count per IMB averaged 1,553 loans in Q2, an increase from 1,264 loans in Q1.

Loans 360

Loans Mortgages Banks Industrial 360

Housing Wire

JANUARY 24, 2022

Sanjiv Das, CEO of Caliber Home Loans , is stepping down as CEO of the company, less than one year after New Residential Investment Corp. NRIC noted in their earnings that channel diversification and the combination of Caliber and Newrez LLC, the REITs other mortgage arm, propelled gain-on-sale margins by 30 basis points.

Loans 368

Loans Residential Mortgages Finance 368

Housing Wire

JANUARY 24, 2023

About a quarter of American homeowners are unable to access the equity in their homes because of strict lending standards, and EasyKnock said the partnership will “improve housing stability for our mutual customers, providing them liquidity, flexibility and control in their finances.” The lender originated $14.9 Licensed in Washington, D.C.

Sales 345

Sales Equity Loan Officer Finance 345

Housing Wire

DECEMBER 2, 2020

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday. billion in closed loans during the third quarter, an 81% increase from the $29.9 from Q2 2020).

FHA loan 471

FHA loan Loans Mortgages Loan Officer 471

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. His goal is to bring his sales numbers up to $450 to $500 million, with origination coming from different states, and potentially capitalizing on a little refinance boom in the latter part of 2023. It’s a conundrum.

Loans 345

Loans Pre-approval Closing Marketing 345

Housing Wire

SEPTEMBER 28, 2023

Having completed the $12 billion acquisition of Black Knight , Intercontinental Exchange (ICE) is confident in evolving into a true life-of-loan platform: powering origination to final settlement, all in one unified digital ecosystem, executives said during its conference call with analysts. “By

Loans 380

Loans Technology Mortgages Development 380

Inman

JANUARY 30, 2024

Volatile interest rates have trapped over 9 million homeowners from accessing their home equity, with limited refinancing or loan options. The white paper proposes sale-leaseback, highlighting EasyKnock's Sell & Stay program as a flexible solution, while fintech leaders explore broader alternatives for equitable housing finance.

Sales 162

Sales Equity Finance Loans 162

Housing Wire

AUGUST 3, 2022

South Carolina-based Movement Mortgage has hired two executives away from rival Fairway Independent Mortgage to boost the growth and development of its distributed retail sales team. The nonbank lender named the 34-year veteran Sarah Middleton to the new position of chief growth officer to attract, onboard and develop sales leaders.

Sales 382

Sales Development Mortgages Residential 382

Housing Wire

FEBRUARY 7, 2024

Census Bureau data on housing inventory estimates details two cycles this decade – the onset of the pandemic and the rise of interest rates – that have been catastrophic for the nation’s for-sale housing inventory. Prospective homebuyers were armed with low interest rates, paused student loan payments and stimulus checks.

Sales 405

Sales Mortgages Equity Marketing 405

Eye on Housing

APRIL 26, 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8

Finance 138

Finance Sales Loans Mortgages 138

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 447

VA loan Agents Seller concession FHA loan 447