Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

VA loan 441

VA loan Loans Principal Mortgages 441

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. million in unpaid principal balance; pool 2 is at $342.5 The reperforming-loan sale is slated to close by late October 2022, after due-diligence period.

Loans 377

Loans Purchase and sale agreement Principal Due diligence 377

Housing Wire

APRIL 30, 2024

At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year. Gain-on-sale margins marginally recovered to 1.29% in the first quarter, up from 1.23% in the previous quarter. million in pretax income. This is not a race to get bigger.

Mortgages 370

Mortgages Equity Principal Finance 370

Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. These clients are typically low on funds, which is why they need this type of financing. It would be a disaster for FHA and VA homebuyers,” Evan Potter, branch production manager at Revolution Mortgage.

VA loan 443

VA loan Agents Seller concession FHA loan 443

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.”. How Freddie Mac is addressing affordable housing challenges.

Loans 441

Loans Title Finance Lending 441

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 421

Technology Development Title Lending 421

Housing Wire

NOVEMBER 2, 2023

However, gain-on-sale margins posted for the third quarter of 2023 were 276 points, up from the previous quarter’s 267 points. “We This was the result of strong execution and continued expansion in the gain-on-sale margin.” billion of unpaid principal balance to its portfolio. Rocket generated $22.2 billion in Q2 2023.

Principal 404

Principal Loans Technology Mortgages 404

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 326

Mortgages Loan Officer Principal Loans 326

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. The report was based on unnamed sources and indicated the sales were being handled “inhouse.” billion based on the unpaid principal balance (UPB), down from $679.2

Principal 401

Principal Loans Banks Mortgages 401

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. Sixteen percent of home modifications in Q1 were modifications with principal forbearance, the report said.

VA loan 340

VA loan FHA loan Fixed-rate mortgage Principal 340

Housing Wire

MAY 4, 2023

Through Rocket’s “Buy+ program, clients who obtain purchase financing from Rocket Mortgage and find a home with a Rocket Homes partner real estate agent, will receive a credit equal to 1.5% Gain-on-sale margins posted in the first quarter were 239 basis points, up from 217 basis points in the previous quarter. Rocket reported $8.1

Principal 379

Principal Closing costs Mortgages Closing 379

Housing Wire

NOVEMBER 7, 2023

loanDepot had “lower pull through weighted lock volume partially offset by higher pull through weighted gain-on-sale margin.” The pull-through gain-on-sale margin was 2.93% in the third quarter, better than the 2.85% registered in the previous quarter. Servicing loanDepot’s unpaid principal balance increased to $143.9

Principal 402

Principal Loans Sales Mortgages 402

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

AUGUST 4, 2022

There are, however, a number of additional caveats for a mortgage loan with a lender-funded grant to be eligible for sale to Fannie Mae. The loan must be secured by a principal residence. The borrower must make a 3% contribution from other sources of funding. Fannie Mae did not respond to a request to comment.

Principal 488

Principal Loans Banks Closing costs 488

Housing Wire

JANUARY 30, 2024

“There are some [smaller] companies that have sold a lot of their MSRs and now have to turn that corner to real profitability, and they don’t have that piggybank to draw from,” said Charley Clark , a senior vice president and mortgage warehouse finance executive at EverBank (formerly known as TIAA Bank ).

Marketing 338

Marketing Principal Banks Loans 338

Housing Wire

FEBRUARY 23, 2024

“Our decision to offboard a significant number of unproductive agents during the fourth quarter resulted in a decrease in our agent count quarter-over-quarter, the retention of our most productive agent cohorts remained excellent,” Kent Cheng, principal financial officer at eXp World Holding, said.

Agents 373

Agents Principal Residential Sales 373

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 359

Principal Loans Lending Finance 359

Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. In a flash, millions of Americans lost their jobs and incomes.

Mortgages 425

Mortgages Principal Loans Finance 425

Housing Wire

NOVEMBER 8, 2023

California lender Guild M o rtgage reported an increased profit in the third quarter despite high mortgage rates and limited home sales inventory. But the gain-on-sale margin on originations rose 22% to 377 in Q3, up from 310 over Q2. “We billion in unpaid principal balance as of Sep. million net income in the previous quarter.

Principal 380

Principal Loans Mortgages Industrial 380

Housing Wire

SEPTEMBER 16, 2022

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. billion during that same period and the gain-on-sale margin also fell to 2.92% from 3.01%. in the first year of their loan, Rocket said. Loan origination volume dropped to $34.5

Mortgages 392

Mortgages Seller concession Fixed-rate mortgage Loans 392

Housing Wire

AUGUST 8, 2023

million in the previous quarter, “primarily driven by higher pull through weighted lock volume and gain on sale margin,” the company told investors. The gain-on-sale margin came in at 2.85% in the second quarter, better than the 2.26% registered in the previous quarter. Total revenues increased to $271.8 million in Q1 2023.

FHA loan 311

FHA loan Principal Lending Loans 311

Housing Wire

SEPTEMBER 22, 2022

Marty Green, principal with mortgage law firm Polunsky Beitel Green , described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”. The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies.

Mortgages 406

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 406

Housing Wire

MAY 6, 2022

“Origination volumes and gain on sale margins were compressed compared to prior quarters, consistent with broader industry trends,” Mary Ann McGarry, Guild’s CEO , said during a call with analysts on Friday morning. billion in unpaid principal balance, up 3% quarter over quarter and 16% year over year.

Mortgages 361

Mortgages Principal Finance Loans 361

Housing Wire

AUGUST 7, 2023

billion, which the brokerage attributed to a 19% year-over-year decrease in transaction sides to 54,207, combined with a decrease in the average home sale price, as the brokerage’s gross transaction value dropped 26% year over year to $56.8 Compass’ free cash flow win came despite a 26% annual drop in revenue to $1.5

Brokerage 344

Brokerage Principal Title Equity 344

Housing Wire

AUGUST 9, 2023

The company’s total gain-on-sale margins decreased to 88 basis points in Q2 2023, compared to 92 bps in Q1 2023 and 99 basis points in Q2 2022. Gain-on-sale margins are expected to be between 75 bps and 100 bps. billion in the unpaid principal balance of MSRs as of June 30, 2023, compared to $297.9 UWM had $294.9

As-is 370

As-is Principal Mortgages Loans 370

Housing Wire

APRIL 29, 2022

The Gain-on-sale margin somewhat surprisingly increased to 1.53% in the first quarter, compared to 1.41% in the previous three months. Meanwhile, Ethan Elzen landed as executive vice president of business development and operational finance. But what if you had an unfair advantage in this climate? Presented by: Teraverde.

Principal 369

Principal Loans Mortgages Land 369

Housing Wire

OCTOBER 31, 2022

“The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report.

Industrial 324

Industrial Mortgages Principal Loans 324

Housing Wire

MAY 5, 2022

You can use that time to prepare for the sale, and when the lease ends, you start the process. In the best-case scenario, the renter wants to buy the home, has a down payment, and qualifies for standard financing. You can conduct the sale as you would with any other buyer, selling the house in a decent amount of time.

Due diligence 352

Due diligence Finance Principal Sales 352

Housing Wire

APRIL 24, 2024

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. billion in unpaid principal balance (UPB), down 19% on a quarterly basis and 5% below year-ago levels.

Lending 380

Lending Loans Principal Mortgages 380

Housing Wire

AUGUST 3, 2023

Gain-on-sale margins posted for the second quarter of 2023 was 267 points, up from the previous quarter’s 239 points. Rocket’s share of the purchase business jumped to 55% in the first three months of 2023, according to data from Inside Mortgage Finance (IMF). Rocket generated $22.3 By channel, Rocket reported $12.4

Loans 313

Loans Mortgages Loan Officer Principal 313

Housing Wire

NOVEMBER 3, 2022

Rocket, which has fashioned itself as a fintech since its march toward the August 2020 IPO , acquired the personal finance app Truebill in December 2021. The unpaid principal balance in its servicing book rose 2% year-over-year to $531 billion as of September 31. Rocket has 2.5 billion in recurring servicing fee income.

Principal 381

Principal Mortgages Closing costs Title 381

Housing Wire

JUNE 5, 2023

of the median household income to make principal and interest (P&I) payments on the median-priced home purchased with 20% down and a 30-year fixed-rate mortgage. The combination of lower supply and demand in April led to both slowing sales and firming prices,” Walden said. In turn, the 100 largest U.S. It now takes 34.2%

Fixed-rate mortgage 384

Fixed-rate mortgage Principal Mortgages Marketing 384

Realtor.com

MARCH 15, 2021

This mandated seller financing package appears to me to be like subprime lending even though my wife and I have 750 and above credit scores and could qualify for today’s low mortgage rates. We are basically paying mostly all-interest payments and only reducing the principal balance by only about $1,160 during the whole first year.

Finance 70

Finance Due diligence Fixed-rate mortgage Lending 70

Keeping Current Matters

NOVEMBER 10, 2020

In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner: “…a primary home accounts for 90% of the total wealth of a family in the U.S.”. As of September 2020, the median sales price of existing home sales was $311,800, a 35% gain since July 2006 when prices peaked at $230,000.”.

Equity 271

Equity Principal Finance Loans 271

Housing Wire

NOVEMBER 10, 2022

The company’s gain-on-sale margin attributable to correspondent and wholesale channels, before the impact of capital markets and other activity, was 51 basis points in the third quarter of 2022, compared to 60 bps in the previous quarter and 73 bps in the same quarter in 2021. quarter-over-quarter and 25.2% year-over-year.

Principal 340

Principal Finance Loans Mortgages 340

HomeLight

AUGUST 31, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Because it’s an installment loan, the couple receives all the funds upfront and pays back principal and interest on a pre-set schedule, usually over five to 15 years.

Equity 99

Equity Finance Loans Closing costs 99

Housing Wire

DECEMBER 13, 2023

Those figures reflect a substantial reduction in new and existing-home sales and refinancing as interest rates ballooned past 7% over the period, driven by the Federal Reserve’s aggressive monetary-tightening policy. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgages 339

Mortgages Marketing Banks Investor 339