Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. 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. Think technology and service providers, too — a smaller mortgage market affects everyone.

Industrial 450

Industrial Mortgages Principal Technology 450

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 384

Loans Purchase and sale agreement Principal Due diligence 384

Housing Wire

OCTOBER 31, 2022

This is projected to be a record year for consolidation among mortgage lenders, largely due to the dramatic shift from a refinance boom to a purchase mortgage market and the total origination volume, which has shrunk to about half the size from 2021. Most recently, Guild Mortgage expressed interest in acquisitions.

Industrial 351

Industrial Mortgages Principal Loans 351

Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. But Varun Krishna, CEO and director of Rocket Companies, noted its growth in market share during a difficult year for mortgage lenders. “We Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2

Mortgages 429

Mortgages Principal Lending Loans 429

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., My outlook is very positive.

Mortgages 405

Mortgages Principal Loans Loan Officer 405

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement.

Industrial 408

Industrial Mortgages Fixed-rate mortgage Principal 408

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 359

Mortgages Loan Officer Principal Loans 359

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Loans 496

Loans Principal Mortgages Real-estate owned 496

Housing Wire

NOVEMBER 2, 2022

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. We have lenders coming to us asking about the potential impact of a mortgage loan closing should the NFIP lapse. The NFIP’s authority to operate must be periodically renewed by Congress.

Industrial 373

Industrial Seller disclosure Mortgages Principal 373

Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said. As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” What does it mean for buyers, sellers?

Industrial 389

Industrial Mortgages Purchase and sale agreement Banks 389

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). to 358 loans).

Mortgages 386

Mortgages Loans Equity Principal 386

Housing Wire

MARCH 25, 2024

California-based multichannel mortgage lender HighTechLending appointed reverse mortgage industry veteran Brian Boccia to serve as a senior account executive in its third-party origination (TPO) channel. He joins the company after prior experience at companies like Mutual of Omaha Mortgage and Reverse Mortgage Funding (RMF).

Mortgages 427

Mortgages Principal Industrial Sales 427

Housing Wire

FEBRUARY 24, 2023

Housing sector leaders acknowledge that some borrowers are still struggling to pay their mortgages after being hit by layoffs and other issues caused by the Covid-19 pandemic. That’s why industry leaders are working on new solutions to the loss mitigation toolkit, including successors for the Covid-19 partial claim options.

Industrial 366

Industrial Principal Loans Mortgages 366

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 383

Loans FHA loan Principal Marketing 383

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those mortgages were originated at interest rates of 3% or less, and rates now are more than 3 percentage points higher.

Loans 382

Loans Debt-to-income ratio Banks Mortgages 382

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit.

Loan Officer 410

Loan Officer Loans Mortgages Industrial 410

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% Concessions, mortgage rate buydowns save deals. According to a new Redfin report, a record 41.9%

Seller concession 527

Seller concession Mortgages Loan Officer Loans 527

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. Beyond that will depend on what happens to rates.”

Mortgages 428

Mortgages Bankruptcy Principal Finance 428

Housing Wire

JULY 1, 2022

Most industry observers predicted that the national foreclosure rate would rise once foreclosure moratoriums ended on July 31, 2021. were “combination modifications,” where interest rate reductions and term extensions are applied to a loan to help bring down a borrowers mortgage payment. year-over-year to 2,410, the OCC found.

Banks 384

Banks Mortgages Principal Short sale 384

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 431

Mortgages Banks Loans Industrial 431

Housing Wire

MAY 9, 2024

Guild Holdings Company , parent company of Guild Mortgage , recorded a 6% increase in mortgage originations and much higher revenue levels in the first quarter of 2024 than in 2023. The company’s unpaid principal balance (UPB) in its servicing portfolio also grew by two percent to $86.3 Net revenue sharply increased to $231.8

Principal 299

Principal Technology Mortgages Loans 299

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 349

Sales Mortgages Loans Loan Officer 349

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 369

Industrial Banks Loans Design 369

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. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 450

VA loan Loans Principal Mortgages 450

Housing Wire

SEPTEMBER 30, 2021

The Department of Veterans Affairs announced this week that it is extending the timeframe for borrowers to request loan deferment. According to the VA’s circular, servicers may continue offering loan deferment until July 1, 2023, thus pushing the deadline nearly two additional years.

Loans 409

Loans Principal Lending Industrial 409

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. A unified name has not yet been determined and Sales Boomerang and Mortgage Coach will continue to operate as distinct brands, for now, the companies said.

Sales 393

Sales Mortgages Loan Officer Principal 393

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb.

Due diligence 375

Due diligence Mortgages Principal Lending 375

Housing Wire

AUGUST 4, 2022

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. million premium.

Mortgages 359

Mortgages Pre-approval Principal Loans 359

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb.

Due diligence 366

Due diligence Mortgages Principal Lending 366

Housing Wire

MAY 9, 2024

the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs). billion in mortgages in the first quarter, higher than the $24.3 UWM Holdings Corp. , ” UWM originated $27.6

Sales 246

Sales Principal Loans Mortgages 246

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 370

Mortgages Marketing Banks Investor 370

Housing Wire

APRIL 7, 2021

While overall complaints were up 54% year-over-year, complaints against mortgage companies were up just 7.5%, and complaints against mortgage servicers were actually down, by 3.5%. These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry.

Mortgages 457

Mortgages Principal Loans Finance 457

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 419

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 419

Housing Wire

JANUARY 5, 2022

Reverse Mortgage Funding, LLC (RMF) has acquired a portfolio of mortgage servicing rights (MSRs) and other assets from industry-leading lender American Advisors Group (AAG), which consists of more than 75,000 loans totaling $12.1 billion in unpaid principal balance (UPB).

Mortgages 380

Mortgages Principal Loans Industrial 380

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Mortgages 458

Mortgages Fixed-rate mortgage Loans Loan Officer 458

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 369

Marketing Principal Banks Loans 369

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgages 389

Mortgages Loan Officer Lending Principal 389