Housing Wire

FEBRUARY 16, 2024

Coming out of COVID, we saw our competitors getting very active, either buying companies or extending huge signing bonuses. We felt it made more sense to wait and get through the trough, so we weren’t active at all with an acquisition strategy. SW: Are you planning more acquisitions? That’s why we started NAF Cash.

Loan Officer 406

Loan Officer Loans Technology Mortgages 406

Housing Wire

OCTOBER 2, 2023

With the equity market unattractive at this point, issuing debt is the ideal option to raise capital for public and private businesses. “With profitability starting to improve – and it looks like we have at least hit the bottom with respect to profitability – the markets opened up. billion in about 24 hours.

Mortgages 401

Mortgages Marketing Investor Lending 401

Housing Wire

JULY 25, 2023

Only the well-capitalized lenders are projected to survive the headwinds because it allows them to increase market share as other smaller lenders in the space pull back. F2 Finance funds its own loans and has “quite a bit of capital lined up to lend into this space” with the investors who had previously backed its UK and Irish businesses.

Finance 353

Finance Marketing Lending Loans 353

Housing Wire

DECEMBER 13, 2023

The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 370

Mortgages Marketing Banks Investor 370

Housing Wire

SEPTEMBER 2, 2022

The company confirmed workforce reductions on Wednesday and Thursday are in line with the company’s “openness to get smaller as an organization to effectively counter severe market pressures,” according to a spokesperson on Thursday. We’re not afraid to get smaller as an organization.”.

Lending 421

Lending Loans Mortgages As-is 421

Housing Wire

JANUARY 10, 2023

“All of our production is down, the industry volume is off considerably and I think there’s an opportunity for well-positioned, well-capitalized lenders,” Lowman said. A former branch manager had told HousingWire that APM bought AmeriFirst Financial in December and APM “started rolling out the APM network.”.

Mortgages 364

Mortgages Loan Officer Loans Finance 364

Housing Wire

JULY 31, 2023

Mike Cagney’s Figure Technologies laid off 20% of its staff and plans to take its profitable lending business public next year, Bloomberg reported. That market capitalization, along with the company’s other assets “should put us comfortably ahead of last round price” Cageny said, referring to Figure’s latest $3.2

Lending 329

Lending Equity Banks Loans 329

Housing Wire

OCTOBER 5, 2023

This is a watershed moment for many different reasons as now these [HEAs] can start to become more of a mainstream asset class that a significant number of investors will want to participate in. “That will be the first-ever rated securitization of home equity agreements,” said Ryan Craft, CEO of Saluda Grade. billion. “And

Equity 409

Equity Purchase and sale agreement Marketing Lending 409

Housing Wire

MARCH 15, 2022

While substantial, the capital we raised is much less than what we set out to raise in our IPO, requiring us to rightsize the business, including the difficult decision to part ways with many of our beloved Knockstars,” Black writes. Then, “the Delta variant started raging” sending “the stock market into a tailspin.”.

Title 401

Title Loan Officer Finance Staging 401

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. We’re following the tried-and-true VC [venture capital] path,” Kasle said.

Lending 397

Lending Brokerage Mortgages Banks 397

Housing Wire

MARCH 8, 2024

Because it is not a one-to-one exchange rate, we do get a little bit of extra ownership for every dollar that we put in, so that does provide a little bit of protection on the downside in case home prices depreciate. The third part is the structure [of the deal]. Kim: There are a handful of home equity investment firms in the market.

Equity 356

Equity Marketing Investor Loans 356

Housing Wire

JULY 12, 2021

Venture capital-backed mortgage lender Better.com is going international. Trussle’s investors include American bank Goldman Sachs and Amsterdam-based venture capital fund Finch Capital. since early 2020, with plans to usurp the traditional mortgage brokerages that dominate the U.K.’s ’s $1.5

Brokerage 400

Brokerage Mortgages Loan Officer Banks 400

Housing Wire

MARCH 18, 2021

Savor the irony: A blank-check company started by Spencer Rascoff is bringing an iBuyer, Offerpad, public. Offerpad’s experienced tech and real estate leadership team created a highly efficient ibuying business, while raising less capital than competitors,” the release reads.

Loan Officer 431

Loan Officer Technology Equity Brokerage 431

Housing Wire

JULY 12, 2022

When we started, the idea was to obtain exterior photos as fast as possible, at a time when Uber, Lyft and marketing technology was advancing, and anyone with a smartphone could get exterior photos,” said Tomaszewski, who worked to turn his idea into ProxyPics. Then they submit an order to us and the appraiser gets it the next day.

Inspection 410

Inspection Technology Loans Mortgages 410

Housing Wire

FEBRUARY 2, 2024

The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. NAF] is just a different culture of business, and a lot of people don’t like working with a huge company because then they get lost,” the LO said. and NFM Lending. He spoke anonymously for fear of retaliation. “[NAF]

Loan Officer 399

Loan Officer Loans Lending Mortgages 399

Housing Wire

NOVEMBER 30, 2023

Editor in Chief Sarah Wheeler sat down with Kenon Chen, executive vice president of strategy and growth at Clear Capital , to talk about appraisal modernization and how technology is just part of the solution. SW: Getting accurate square footage and floor plans has been a thorn in the side of the GSEs and agencies for years.

Loans 429

Loans Technology Days on market Investor 429

Housing Wire

JANUARY 25, 2023

Fueling the rumor in this case is Wells Fargo’s recently announced plans to reduce its MSR portfolio, valued on its books at $9.3 As of the start of this year, Wells Fargo’s all-agency MSR portfolio included some $608 billion in loans serviced based the unpaid principal balance, or 7.3% billion as of the end of 2022, U.S.

Banks 356

Banks Loans Mortgages Sales 356

Housing Wire

APRIL 3, 2023

Reffkin doesn’t shy away from the fact that the brokerage has received billions in venture capital and debt. Proptech companies, many of which have relied heavily on venture capital funding , have struggled mightily over the last 12 months. “As At the same time, venture capital investment slowed across all sectors.

Banks 335

Banks Brokerage Closing As-is 335

Housing Wire

AUGUST 16, 2022

372) and ASTAR Home Capital (no. With about 35% of its customers being first-time real estate investors, Trius is hopeful to get repeat customers as it keeps its losses to a minimum, Shein added. “We MortgageOne (no. 284) came in second place for top mortgage lenders, growing 1,952% in the past three years. Zap Mortgage (no.335),

Mortgages 369

Mortgages Lending Investor Loans 369

Housing Wire

MAY 17, 2023

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. It’s really going to take a piece out of your return when you start to calculate your carrying cost on that property [while the renovations are happening].”

Finance 365

Finance Marketing Lending Investor 365

Housing Wire

NOVEMBER 9, 2022

Similarly, news broke this week revealing that independent mortgage bank (IMB) New American Funding had culled its employee ranks by 240 — followed by news that non-QM lender Athas Capital Group was closing its doors and laying off more than 200 employees. Director and head of trading at mortgage capital trading. How bad will it get?

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

Housing Wire

JULY 22, 2022

Thomas Yoon, president and CEO of Excelerate Capital , a full-service non-QM lender, said the move essentially means Flagstar now will “monitor every loan because they don’t want [to fund loans] that will be hard to sell in the open market, and then they’re stuck with that loan.”. The same cannot necessarily be said for non-QM.”.

Lending 378

Lending Banks Bankruptcy Loans 378

Housing Wire

MARCH 30, 2023

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. Connie Kim: You had a long run at Wyndham Capital Mortgage dating back to 2011.

Loans 380

Loans Mortgages Loan Officer Lending 380

Housing Wire

OCTOBER 25, 2022

I’d much rather have two consecutive quarters of recession and get it over. I hope that’s where Jay (Jerome Powell) ends up planning this. “Lenders have started to shrink excess capacity by reducing staffing levels, exiting less profitable channels or exiting the business entirely.” trillion and $1.7

Mortgages 334

Mortgages Industrial Equity Banks 334

Housing Wire

MARCH 12, 2021

Reports show 63% of millennial home shoppers plan to purchase a home because of their new remote work status. As you start the real estate process, saving for a down payment—often while paying off debt in tandem—can feel like a big hurdle. Start Working With Professionals. Start Your Home Buying Journey.

Loans 441

Loans Design Finance Mortgages 441

Housing Wire

JANUARY 31, 2021

Whether they’re working with borrowers on forbearance plans or helping them refinance their homes, servicers are handling incredibly high call volumes. Not to mention, it can be difficult for servicers to identify collateral that needs a more in-depth look at the start of the loan process, which can lead to additional obstacles.

Loans 247

Loans Technology Development Inspection 247

Housing Wire

FEBRUARY 8, 2022

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. Borrowers started to reach out knowing that foreclosure processes would soon resume, said Bymel. An army of door-knockers.

Loans 363

Loans Pre-approval Mortgages Principal 363

Housing Wire

OCTOBER 12, 2023

You would get phone calls constantly from tech vendors during that period, and they’d talk about 30%, 40% ROI and how much tech would decrease turn times. The second problem is that in a tightening margin environment , you could have per-unit vendor costs that are more than the revenue that you’re getting in. Where did we land?

Mortgages 418

Mortgages Technology Loans Loan Officer 418

HomeLight

APRIL 30, 2024

Get Started Disclaimer: This post is for educational purposes and is not intended to be construed as tax advice. This step also involves getting a proper release of responsibility for the seller. As you plan the assumption, you’ll want to research the potential property tax ramifications.

Purchase and sale agreement 90

Purchase and sale agreement Mortgages VA loan Loans 90

Housing Wire

SEPTEMBER 8, 2020

17, stockholders of CoreLogic will get to cast their vote on whether to replace the current board of directors with nominees proposed by Cannae Holdings and Senator Investment Group at a special meeting. Jay” Winship, president and founder of Pacific Point Capital , a real estate investment firm. The vote on Nov.

Principal 307

Principal Investor Banks As-is 307

Housing Wire

FEBRUARY 11, 2022

We know that refinance volume is declining, Agency business will shrink and get more expensive and an increasing number of borrowers will not qualify under Agency guidelines. Changes From The GSEs Will Drive More Borrowers And Originators To Private Capital . Do you have a plan to add non-QM to your loan mix this year?

Loans 356

Loans Banks Mortgages Closing 356

Housing Wire

JANUARY 10, 2023

If we can get past Q1 then things start looking up for the rest of the year, with rates expected to get down to 5.2%. There is no federally funded wind at our back to drive consumer demand and no more cheap capital available to fund every good idea. No more clipboards with notes that stakeholders will never see.

Industrial 374

Industrial Finance Mortgages Equity 374

Housing Wire

JUNE 9, 2022

We started to see a pretty precipitous drop [in loan prices for lower-rate notes] down to 90 or 91 [below par]. “… It’s exceedingly unusual to see that deep of a discount on fully performing, relatively young loans,” Toohig added. or 5.25% current rate coupons [into the system] so we can get back to [a new normal],” Toohig said.

Marketing 378

Marketing Loans Technology Bankruptcy 378

HomeLight

FEBRUARY 26, 2024

It can be a way to keep a treasured home in the family or help an adult child get a good start in life. Get a ballpark estimate from HomeLight’s free Home Value Estimator. Get Estimate Disclaimer: This post is for educational purposes. How Much Is Your Home Worth Now? How much is your current home worth now?

Title 104

Title As-is Mortgages Sales 104

Housing Wire

MARCH 8, 2021

So, while demand is high now, savvy lenders are planning for the next valley. Technology is often easier and faster to scale up or down versus human capital. Credit is one of the top reasons potential borrowers don’t qualify for mortgages or don’t get the best possible deal, according to Home Mortgage Disclosure Act Data (HMDA) data.

Lending 348

Lending Loan Officer Technology Development 348

HomeLight

OCTOBER 31, 2023

It takes a lot of money and manpower to transform an outdated house into a showplace home — especially if you plan to profit when you resell the property. Looking To Start Your House Flipping Journey? Connect with a top agent today to get started. New flippers aren’t the only ones facing thin profit margins.

House Flipping 112

House Flipping Construction Investor Agents 112

Housing Wire

APRIL 14, 2022

Without that being built, I was starting from scratch. And the rates started to go the wrong way. Tens of thousands of workers were hired, new technologies were piloted and operational processes implemented to capitalize on what was a historic moment for the industry. It just has not gone well.”. Origination volumes eclipsed $4.3

Mortgages 522

Mortgages Marketing Lending Loans 522