Housing Wire

JULY 26, 2023

United Wholesale Mortgage (UWM), the country’s largest wholesale lender, expanded its debt service coverage ratio (DSCR) loan options to four after launching its first product in March. With the expanded options, investors could get loans starting as little as $50,000 and up to $2 million. UWM originated $38.8

Investor 370

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Housing Wire

SEPTEMBER 26, 2023

Cooper was completed in August, Home Point Capital agreed to settle for $5 million a class action lawsuit filed in 2021 by investors claiming the company made false and misleading statements related to its initial public offering (IPO). According to them, the settlement eliminates risks and costs inherent in any litigation.

Investor 409

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Housing Wire

JANUARY 5, 2023

California-based Loan America, Inc. Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders. According to the lawsuit, Loan America and Sprout would agree on prices and rates for any loan that Sprout was interested in purchasing.

Loans 432

Loans Due diligence Loan Officer Mortgages 432

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

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Loan Officer Loans Mortgages Agents 421

Housing Wire

AUGUST 10, 2022

Securities and Exchange Commission (SEC) alleging that the company misled investors about the delinquency rates in a 2018 private-label securitization involving fix-and-flip loans. Shortly after the [securitization] deal closed, loan delinquency rates increased unexpectedly,” the SEC alleges. has agreed to pay $1.75

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Investor Renovation Loans Principal 384

Housing Wire

NOVEMBER 17, 2022

released a new marketplace for co-issue loan sales this week. Co-issue loan sales, also known as flow-based mortgage servicing rights sales, are three-way transactions involving the sale of loans to one of the agencies, with a simultaneous sale of the MSRs to a separate third party.

Loans 368

Loans Sales Investor Mortgages 368

Housing Wire

APRIL 7, 2023

Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store , the company announced on Friday. Arizona-based The Loan Store, also a pure wholesale lender, will be led by Phil Shoemaker, Homepoint’s president of originations.

Loans 522

Loans Equity Investor Mortgages 522

Housing Wire

NOVEMBER 1, 2023

Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. He added that Splitero was looking for other investors and hinted that the company would have some good news to share soon. During a phone interview with HousingWire on Oct.

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Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. and government loans were up 13% last week, according to the MBA estimates.

Loans 384

Loans Fixed-rate mortgage Mortgages Loan Officer 384

Housing Wire

JUNE 15, 2023

National mortgage loan subservicer Cenlar FSB announced on Thursday that it has named the Thomas Donatacci as its investor relations officer. He is expected to strengthen Cenlar’s relationships with stakeholders in this role, including agency investors, shareholders, clients, and rating agencies. territories.

Investor 369

Investor Due diligence Banks Loans 369

Housing Wire

JANUARY 9, 2024

Ohio-based mortgage lender CrossCountry Mortgage has adopted the updated credit scoring model FICO Score 10 T to support origination of non-conforming loans and issue mortgage-backed securities (MBS), the company announced on Tuesday.

Loans 441

Loans Investor Mortgages Lending 441

Housing Wire

JUNE 27, 2023

A former high-ranking employee at nonbank The Change Company CDFI (TCC) filed a lawsuit in California accusing the company of retaliation after he notified executives of employees “mischaracterizing loans” to apparently skirt federal reporting requirements. Department of Treasury.

Loans 370

Loans Investor Banks Lending 370

Housing Wire

NOVEMBER 8, 2022

Mortgage Capital Trading (MCT) announced the appointment of Jennifer Kennelly as the new senior director of its investor services team. MCT aims to utilize Kennelly’s experience in the mortgage industry and capital markets to grow its Bid Auction Manager Marketplace, an open mortgage loan exchange platform launched in 2020.

Investor 370

Investor Loans Technology Mortgages 370

Housing Wire

JANUARY 19, 2023

As financial institutions weather this shift in the market, every loan opportunity becomes more critical than the last. The survival tactic lenders too often miss is doubling down on loan quality to ensure immediate salability to investors or long-term servicing performance.

Loans 397

Loans Lending Investor Mortgages 397

Housing Wire

MAY 16, 2022

HousingWire recently caught up with Steven Schwalb, managing partner of Angel Oak Lending, about the changes investor appetite has gone though for non-QM. HousingWire: What is the investor appetite for non-QM and how has that changed over the past few years? Do they need a pre-closing investor review?

Investor 370

Investor Pre-approval Loans Lending 370

Housing Wire

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

Loans 384

Loans Purchase and sale agreement Investor Finance 384

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 in unpaid principal balance; pool 2 is at $342.5

Loans 384

Loans Purchase and sale agreement Principal Due diligence 384

Housing Wire

NOVEMBER 16, 2021

The Newport Beach, California company has so far this year issued three-private-label transactions backed by home equity lines of credit and home-equity loans tied to a mix of performing and reperforming loans. The loans are serviced by Rushmore Loan Management Services.”. As of the end of September, it had some $2.2

Equity 409

Equity Investor Marketing Title 409

Housing Wire

APRIL 18, 2024

The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). Those who have adopted non-QM are seeing additional loans closed each month they otherwise wouldn’t have procured.

Marketing 416

Marketing Loans Investor Banks 416

Housing Wire

OCTOBER 1, 2022

In the mortgage industry, the time between when a hopeful borrower submits their loan application and the loan actually closing is 50 days on average, according to the Origination Insight Report by ICE Mortgage Technology. During this period, a borrower’s credit profile may change drastically. to recover every $1 of fraud.

Loans 395

Loans Investor Closing Lending 395

Housing Wire

AUGUST 17, 2022

Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”. million profit during the same period in 2021.

Loans 421

Loans Investor Mortgages Title 421

Housing Wire

DECEMBER 16, 2021

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

Due diligence 397

Due diligence Loans Investor Mortgages 397

Housing Wire

MARCH 23, 2023

The bank crisis has also reduced the spread between conforming and jumbo loan rates. Mortgage industry experts believe the current turbulence has potential to hit the jumbo space harder, mainly due to a reduced investor appetite in the secondary market and banks’ tightened financial conditions for borrowers.

Loans 432

Loans Mortgages Banks Fixed-rate mortgage 432

Housing Wire

MAY 22, 2023

Top-producing loan officer Christopher Keelin has taken his 80+person team over to CrossCountry Mortgage to “take advantage” of the lender’s technology while scaling his business. Another strategy Keelin advises his team members is to have a diversified portfolio, targeting both first-time buyers and investors.

Loan Officer 370

Loan Officer Loans Investor Technology 370

Housing Wire

OCTOBER 10, 2022

The latest jobs cut was at Angel Oak Home Loans , which reduced its headcount by 57 employees, comprising 15% of the total, a spokesperson told HousingWire. Angel Oak Home Loans continues to serve homebuyers across the country and maintains staffing levels to meet the changing dynamics of the residential mortgage market.”.

Loans 397

Loans Loan Officer Mortgages Residential 397

Housing Wire

JUNE 28, 2022

Roughly a year ago, the Austin-based fintech began to sell its loans to First Guaranty Mortgage Corporation (FGMC), a lender and investor that specializes in non-qualified mortgage loans and is controlled by behemoth investment management firm Pacific Investment Management Company (PIMCO). . ” . Mispricing at FGMC? .

Loans 384

Loans Due diligence Fixed-rate mortgage Lending 384

Bigger Pockets

APRIL 8, 2024

As most house flippers or BRRRR landlords will tell you, paying for hard money—with high interest rates and points tacked on top—can take huge chunks of profit out of a project. For landlords, extra expenses […]

Hard money loan 118

Hard money loan Loans Investor 118

Housing Wire

OCTOBER 19, 2021

The historic mortgage boom spurred by the pandemic hasn’t just been a blessing for lenders – the slew of mortgage loan-trading platforms have also reaped the rewards of historic origination volume. On these platforms, originators can lock down the best loan price from various buyers, typically asset managers and institutional investors.

Loans 383

Loans Due diligence Mortgages Investor 383

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

SEPTEMBER 21, 2023

The credit risk analytics will combine ICE’s physical climate risk data and DeltaTerra’s climate analytics, financial risk models, and market data to deliver risk impact estimates for investors in the residential and commercial mortgage-backed securities markets. municipalities, MBS pools, and related fixed income securities.

Investor 234

Investor Commercial Residential Finance 234

Housing Wire

AUGUST 11, 2022

In an additional note of caution looking forward, the lender’s SEC filing indicates that it cannot guarantee requests for future loan-covenant amendments or waivers will be agreed to by its lenders, “in which case we would be in default under these agreements.”. ” The lender wrote in its SEC filing that as of June 30, it had $90.8

Loans 397

Loans Principal Lending Mortgages 397

Housing Wire

JUNE 28, 2022

Fannie Mae has announced the winning bidder for the final mortgage pool that was part of its inaugural nonperforming loan sale of 2022 — and it’s nineteenth sale since the i na ugural offering in 2015. The loan pool, dubbed the Community Impact Pool (CIP), includes 120 loans with an unpaid principal balance of $36.3

Loans 384

Loans Purchase and sale agreement Sales Principal 384

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

Loans 441

Loans Banks Residential Finance 441

Bigger Pockets

SEPTEMBER 22, 2023

Is a jumbo loan a good option for real estate investors? We'll explain what is a jumbo loan and provide some pros and cons for this financing option.

Investor 114

Investor Loans Finance Mortgages 114

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The transaction includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Of the total volume, conventional loans accounted for 85.7%

Loans 306

Loans Bankruptcy Loan Officer Lending 306

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

Investor 381

Investor Sales Mortgages Loan Officer 381

Housing Wire

JANUARY 5, 2022

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

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Loans Finance Mortgages Title 520