Ransomware imperils title, mortgage industry

Housing Wire

Ransomware attackers hit major title industry cloud services provider Cloudstar , stopping an untold number of loans from closing on Monday. The ramifications for the title and mortgage industry may extend beyond the immediately impacted loan applications.

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Fannie Mae cuts 2022 industry forecast (again)

Housing Wire

The post Fannie Mae cuts 2022 industry forecast (again) appeared first on HousingWire. Fannie Mae lowered its projections of mortgage originations and home sales for 2022 as mortgage rates continue to climb.

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Title industry prepares for changing market conditions

Housing Wire

As mortgage rates rise and home price appreciation continues , employees in the housing industry are hard at work preparing for shifting market conditions. The industry aggregate 2021 risk-adjusted capital (RAC) ratio decreased to 182% from 204% a year prior.

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FHA borrower fee gridlock draws ire of industry

Housing Wire

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. based consultancy Potomac Partners , which specializes in the mortgage finance industry. “To

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State of the mortgage industry half-time report

Housing Wire

We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. For more trends and strategies aggregated from more than 25 of the mortgage industry’s leading experts, see the full report.

Private mortgage insurance industry boomed in 2020

Housing Wire

The private mortgage insurance industry also supported $600 billion in mortgage originations. The mortgage insurance industry also updated its guides and processes to align with the Federal Housing Finance Agency (FHFA) and the GSEs’ policies to implement nationwide forbearance programs.

The housing industry will soon be up in ARMs

Housing Wire

That’s the consensus forecast of a panel of non-agency industry experts who spoke at the Mortgage Bankers Association ’s (MBA’s) Secondary and Capital Markets Conference & Expo in New York City this week. .

Industry uproar over 50 bps fee on GSE securities

Housing Wire

Mortgage industry stakeholders say a new 50 basis point fee on some Fannie Mae and Freddie Mac securities runs counter to the premise of a uniform mortgage backed security. ” Other industry stakeholders, however, see no connection to the subsidization of mission borrowers.

Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. The FHA is currently accepting industry feedback on the proposed rule, but the concept got us thinking.

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Reimagining How Construction Companies Capture Progress Tracking

Speaker: Felipe Engineer-Manriquez, Christopher Gagliardi, George Hedley, and Jason Nichols

Join our esteemed panelists for their discussion on the importance of progress tracking which ultimately touches upon every digital aspect within the construction cycle. Our thought-leaders' years of experience on the job sites can help you build a better future at your company.

Mortgage industry cheers Sandra Thompson’s nomination

Housing Wire

Industry stakeholders and affordable housing advocates welcomed news that the Federal Housing Finance Agency ’s acting director, Sandra Thompson, was nominated for the permanent role. The post Mortgage industry cheers Sandra Thompson’s nomination appeared first on HousingWire.

The appraisal industry’s governance problem

Housing Wire

Imagine if the Consumer Financial Protection Bureau ’s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors.

The growing threat of phishing attacks on the mortgage industry

Housing Wire

Phishing remains the go-to attack for hackers targeting the mortgage and real estate industries. The post The growing threat of phishing attacks on the mortgage industry appeared first on HousingWire.

Rocket Mortgage breaks into the solar industry

Housing Wire

Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. The post Rocket Mortgage breaks into the solar industry appeared first on HousingWire.

Headwinds confronting the mortgage industry in 2022

Housing Wire

As we approach 2022, some concerning headwinds confront the mortgage origination industry. Following a golden era of great profitability for the mortgage origination industry, a critical confluence of issues portends that next year will likely be more challenging.

7 things that have changed forever in the mortgage industry

Housing Wire

The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. The mortgage industry has been forced to respond to the massive and sudden work-from-home mandates.

The appraisal industry’s hidden hand

Housing Wire

Ultimately, DeZarn concluded, “We don’t know where this industry is going.”. But they did not become key players in the home valuation industry until the recent housing bubble.”. It doesn’t exist in the AMC industry.”.

Opinion: Mortgage industry will shed 100K jobs this year

Housing Wire

And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. The mortgage industry has been going through these cycles since the 1980s. And people are this industry’s most important and valuable asset.

The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. But the mortgage industry and HUD don’t see eye-to-eye on how that decision should be taken into account.

Anxiety grips LOs as layoffs sweep the industry

Housing Wire

According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry. Someone with 10 years in the industry, they know the answer to the question—I don’t.”. In 2020, hiring in the mortgage industry surged.

What permanent desktop appraisals mean for the industry

Housing Wire

COVID-19 brought many changes to the housing industry as stay-at-home orders forced companies in the space to re-think the mortgage process. The webinar was attended by nearly a thousand industry participants, including lenders, valuations experts and third-party fintech companies.

Title insurance industry reports best quarter on record

Housing Wire

During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Total operating income for the industry was up 53.3% The industry has paid out $352.5

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Industry groups react to SCOTUS eviction ruling

Housing Wire

The post Industry groups react to SCOTUS eviction ruling appeared first on HousingWire.

Reverse mortgage industry courts financial planners

Housing Wire

Our industry has never, ever recovered from not being able to sit shoulder-to-shoulder at bank branches and share clients. This is why this group maintains an important potential place in allowing the industry to reach its goal of expanding the base of borrowers it serves, she says.

Drone mapping in the real estate industry

Housing Wire

In most cases, the advancements cause disruption— and opportunity—in every industry. Drone mapping is replacing manned aerial flyovers such as Google Earth , a technology the industry has relied on for decades. Seth Thompson, premier land professional.

Housing industry reacts to Yellen’s confirmation

Housing Wire

Industry officials were quick to signal their support for yesterday’s historic U.S. ” For the housing industry , Yellen as Treasury Secretary represents a steady hand at the wheel in a deeply uncertain period.

Blend lays off 200 workers as mortgage industry sputters

Housing Wire

Publicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry. Blend anticipates that the mortgage industry it services will experience a 35% decline in origination volume in 2022, lowering its financial outlook.

Mortgage industry welcomes incoming Biden administration

Housing Wire

The housing industry took the opportunity to welcome the new administration and remind it of its promises. “On We look forward to working with this administration and the new Congress on issues that affect mortgage finance and the broader real estate industry.

Why is our industry still transferring money with paper checks?

Housing Wire

While the real estate industry has witnessed the introduction of a number of spectacular and innovative developments in recent years, we still (sometimes unfairly) get tagged as “old fashioned” or “conservative.” Why is the industry still transferring money the old-fashioned way?

How COVID-19 is driving AI in the mortgage industry

Housing Wire

The shift to AI-powered technology is rapidly taking over the mortgage industry with leaders turning to machine learning to increase efficiency amid COVID-19. If we could get some of these other industries started again, that could ameliorate some of the negative effects.

Title insurance industry volume rises 3.6% in Q1

Housing Wire

The title insurance industry had a record year in 2021 , generating $26.2 Total operating income for the industry was up 3.6% The title industry will continue to innovate and develop products that best serve and protect its customers.”. The post Title insurance industry volume rises 3.6% Despite rising interest rates , higher home prices and a drop in refinance volume , the American Land Title Association recorded $5.89

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Why female leadership is crucial to the mortgage industry

Housing Wire

HousingWire recently spoke with Keri Stichler, Divisional Vice President at Rocket Pro TPO, about why female leadership is crucial in the mortgage industry and how companies can advocate for inclusivity. HousingWire: How common is female leadership across the industry?

Homes for Heroes’ mission to inspire the housing industry

Housing Wire

As one of the largest networks in the real estate and mortgage industry, Homes for Heroes was built to give back to firefighters, EMS, law enforcement, military, healthcare professionals and teachers and provide an easier route for them to buy or sell a home.

Industry to Congress: G-fees aren’t your “piggybank”

Housing Wire

Two dozen industry groups have joined forces to oppose any plan to raise Freddie Mac and Fannie Mae guarantee fees (g-fees) to pay for an infrastructure package. The spectre of raising g-fees horrified industry stakeholders.