Housing Wire

MARCH 21, 2024

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. increase.

Lending 420

Lending Sales Commercial Loans 420

Housing Wire

MAY 21, 2024

Traditional equity-tapping methods — such as selling the home or taking out a home equity loan — could present lifestyle challenges, which is where alternative options like reverse mortgages can come into play. Interest rates also further complicate matters if the homeowner has a more beneficial mortgage rate than is available today.

Equity 432

Equity Mortgages Principal Finance 432

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. In an interview today with Yahoo Finance , I discussed how home prices are still rising this year.

Sales 491

Sales Investor Finance Marketing 491

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

Loans 429

Loans Mortgages Due diligence Banks 429

Housing Wire

APRIL 22, 2024

Industry veteran Rick Roque has resigned from his position as corporate vice president at retail mortgage lender CrossCountry Mortgage (CCM) to join multichannel player Sierra Pacific Mortgage as executive vice president of retail. Roque, who co-founded M&A and retail mortgage banking firm Menlo Co.

Mortgages 420

Mortgages Loan Officer Loans Banks 420

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 370

Finance Marketing Lending Loans 370

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. Assisting homebuyers and their agents adds more to an LO’s plate.

Industrial 504

Industrial Seller concession Purchase and sale agreement Agents 504

Housing Wire

APRIL 27, 2022

First Community Mortgage ‘s wholesale division named a new regional sales manager in hopes to continue growth for the firm’s mortgage boutique division. The wholesale division provides underwriting and closing services to small banks, credit unions, and mortgage brokers. Presented by: William Mills Agency.

Sales 370

Sales Mortgages Banks Lending 370

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. The traditional mortgage business notched $4.23 The rapidly rising rates and spreads also led to compressed margins for both reverse and commercial mortgages.

Finance 397

Finance Commercial Mortgages Closing 397

Housing Wire

FEBRUARY 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%

Technology 384

Technology Sales Mortgages Lending 384

Housing Wire

NOVEMBER 9, 2023

New York-based digital lender Better Home & Finance Holding Company has partnered with information technology consulting company Infosys on a mortgage-as-a-service platform. Better’s mortgage as a service currently consists roughly 20% of its revenue and the lender aims to grow this business line, Garg said.

Mortgages 410

Mortgages Finance Technology Loans 410

Housing Wire

FEBRUARY 23, 2024

We got a great existing home sales report on Thursday, but is this data already too old? Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%.

Sales 473

Sales Days on market Mortgages Investor 473

Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S.

Title 370

Title Closing Sales Finance 370

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. . The lender’s traditional mortgage business reached $5.1 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.

Finance 370

Finance Commercial Mortgages Investor 370

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. Another national sales director, Ignacio Metcalf, left Movement last year and joined Princeton Mortgage as its national sales director in May.

Sales 370

Sales Lending Loans Finance 370

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. According to Nierenberg, the company hedged most of the of its mortgage servicing rights (MSRs) risk in the first quarter, creating stability and book value on a forward basis. On Tuesday, Rithm announced a $261.6 million in pretax income.

Mortgages 441

Mortgages Equity Principal Finance 441

Housing Wire

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. For more than 10 years, she served as vice president and regional manager for the Southeast at Citizens, formerly Franklin American Mortgage which was acquired in 2018.

Banks 421

Banks Mortgages Finance Sales 421

Housing Wire

FEBRUARY 8, 2024

E-signature company DocuSign laid off 6% of its workforce, or about 400 employees, following reports that the fintech company’s talks in exploring a sale have stalled. A majority of the impacted positions came from the company’s sales and marketing organizations, the company said. DocuSign had 7,336 employees at the end of 2023.

Sales 432

Sales Banks Technology Investor 432

Housing Wire

OCTOBER 31, 2023

The finances at nonbank mortgage companies will remain under pressure in 2024, despite some relief in mortgage rates , according to a new Fitch Ratings report. Regarding the industry’s volumes, Fitch based its report on Mortgage Bankers Association (MBA) data, which shows a $1.9

Mortgages 432

Mortgages Finance Equity Sales 432

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Mortgages 431

Mortgages Finance Lending Equity 431

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’s sales workforce and management will receive job offers and work as a division of Guild. billion in MSRs).

Mortgages 432

Mortgages Loan Officer Loans Finance 432

Housing Wire

NOVEMBER 7, 2023

The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market. The proposal would make it more expensive for large banks to hold, sell or service mortgages, reinforcing their now decade-long retreat from mortgage lending.

Banks 450

Banks Mortgages Marketing Lending 450

Housing Wire

SEPTEMBER 28, 2023

Mirroring the trend for new home sales , pending home sales fell 7.1% Year over year, pending home sales were down 18.7%, an even greater decrease than the 14% annual drop recorded in July. Year over year, pending home sales were down 18.7%, an even greater decrease than the 14% annual drop recorded in July.

Sales 479

Sales MLS Mortgages Closing 479

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.

Mortgages 420

Mortgages Loan Officer Principal Loans 420

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. mortgage lender in the first nine months of 2023, per Inside Mortgage Finance (IMF) estimates. Shelton declined to comment.

Loan Officer 419

Loan Officer Sales Loans Mortgages 419

Housing Wire

DECEMBER 26, 2023

Kyle Joseph, a specialty finance equity research analyst at Jefferies , believes that the worst of the current mortgage cycle may be behind us, a sentiment shared by most analysts covering this industry. Mortgage rates will moderate down to about 6% to 6.25%.” ” The Mortgage Bankers Association (MBA) on Dec.

Mortgages 508

Mortgages Equity Banks Sales 508

Housing Wire

NOVEMBER 30, 2023

Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% As a result, NAR’s Pending Home Sales Index fell to a reading of 71.4, New home sales fell 5.6% down from 72.6 in September. above the previous year’s level.

Sales 479

Sales New Construction Construction Mortgages 479

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 421

Lending Mortgages VA loan Finance 421

Housing Wire

DECEMBER 20, 2023

Sales of existing-homes inched up in November, breaking a streak of five consecutive monthly declines. While sales are still tracking below last year’s levels, the gap between 2022 and 2023 has narrowed considerably. Existing-home sales grew 0.8% Compared to November 2022, existing home sales retreated 7.3%, down from 4.12

Sales 432

Sales Fixed-rate mortgage MLS Mortgages 432

Housing Wire

SEPTEMBER 26, 2023

After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. In August, the sales pace of new homes fell 8.7% On a year-over-year basis, new home sales were up 5.8%. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000.

As-is 500

As-is Sales New Construction MLS 500

Housing Wire

JANUARY 22, 2024

Top-35 mortgage lender New American Funding (NAF) is in negotiations to acquire Chicago-based retail shop Draper & Kramer Mortgage Corp. As part of the deal , NAF would acquire the residential mortgage arm of Draper & Kramer , a property and financial services group established in 1893 by Arthur W. Draper and Adolph F.

Mortgages 346

Mortgages Loan Officer Residential Loans 346

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 421

Mortgages Loan Officer Loans Closing 421

Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. nationally, per Inside Mortgage Finance (IMF) estimates. It won’t be easy. exits and 3.2%

Mortgages 421

Mortgages Bankruptcy Lending Loan Officer 421

Housing Wire

AUGUST 23, 2023

After a slump in June, the sales pace of new homes picked up month over month in July, according to data published on Wednesday by the U.S. In July, the sales pace of new homes climbed 4.4% On a year-over-year basis, new home sales were up 31.5%. On a year-over-year basis, new home sales were up 31.5%. It was up 4.8%

Sales 370

Sales MLS Finance Mortgages 370

Housing Wire

MAY 22, 2024

Kamran is based in Los Angeles and will support Certainty’s strategy and sales performance. Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement. He also held various executive positions at Bank of America for 16 years. “We

Lending 420

Lending Development Loan Officer Finance 420

Housing Wire

OCTOBER 26, 2023

Pending home sales ticked up 1.1% NAR’s Pending Home Sales Index rose to a reading of 72.6 Pending homes sales mirrored the trend in new home sales , which posted a 12.3% Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in September. increase in September.

Sales 410

Sales New Construction Mortgages Construction 410

Housing Wire

FEBRUARY 7, 2024

The stress is leading to the bank to seek the sale of some of its assets to improve its capital position, executives said during a conference call on Wednesday morning. According to a Bloomberg report, the bank has already started to offer its mortgage assets to investors in order to transfer the portfolio risks. It also had $84.3

Mortgages 441

Mortgages Banks Marketing Commercial 441