Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. What does it mean for buyers, sellers?

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment.

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Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lending.

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HomeLight

JANUARY 17, 2024

Buying a house is a major milestone, but what happens when you have second thoughts, or you can’t fulfill the agreement you signed? Backing out of a home purchase isn’t a decision made lightly, yet it’s a scenario that buyers might face. But what’s the real meaning of backing out of a home purchase?

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Housing Wire

MARCH 7, 2022

Worldwide sales of non-fungible tokens, better known – of course – as NFTs, catapulted from $94.9 For example, purchasing an NFT of a JPEG of a painting transfers the intellectual property rights of the painting. But Ethereum was the first with a blockchain that enabled NFT sales. That’s when a 70-year-old brick home in the St.

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Housing Wire

APRIL 25, 2022

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . Competition will be intense over the next 12 to 24 months, driving gain-on-sale margins down even further, Moody ’s analysts wrote in March.

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Housing Wire

JULY 19, 2023

The dour housing market over the past 18 months has thrust struggling independent mortgage lenders (IMBs) into what seems like a pot of water that is coming slowly to a boil. It’s much harder to track asset sales, he added, because there are limited required public filings. We have calls with lenders every single week in that category.”

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Housing Wire

NOVEMBER 2, 2023

Just a couple years ago there was incredible momentum building around alternative ways to purchase, sell and extract value from residential properties. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete. homeowners. According to the latest Q2 report from the St.

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Housing Wire

MAY 26, 2021

If you have any mortgage servicing rights you’re looking to offload, you may want to give Ocwen Financial a call. A few weeks after striking a deal to buy $14 billion of mortgage servicing rights from Texas Capital Bank , a subsidiary of Ocwen has agreed to buy $48.3 billion of conventional MSR from AmeriHome Mortgage.

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Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

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Housing Wire

SEPTEMBER 6, 2023

The most likely outcomes include: Lenders: Fewer than 50 mortgage lenders will transition to a federated model that enforces the controls necessary for secure cross-industry interoperability. Audience assets will be valued based on transaction volumes and bundles of listings, lending, loan sales and servicing and trading content.

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Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And it just might push some smaller lenders over the cliff.

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Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Down Payment : The amount of money you pay upfront towards the purchase of your home.

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HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. What is an assumable mortgage?

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Housing Wire

AUGUST 1, 2023

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Its parent Rocket Companies rode the wave to a stunning $9.4

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Housing Wire

APRIL 27, 2021

The Consumer Financial Protection Bureau formally delayed the mandatory compliance date of the General Qualified Mortgage final rule – better known as the QM rule – from July 1, 2021 to October 1, 2022 on Tuesday. “This act poses serious risk to mortgage finance and brings potential downstream legal risk to the industry.

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Housing Wire

AUGUST 24, 2023

and created a refi boom for mortgage lenders like Better. But Better’s debut came at a low point in the mortgage market, with mortgage rates at their highest levels in more than two decades and historically low levels of home sales. The agreement reduced SoftBank’s maximum commitment to $550 million.

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Housing Wire

MARCH 31, 2021

In one of its key decisions, the CFPB said it will roll back its leniency on reporting Home Mortgage Disclosure Act data. The CFPB also rolled back leniency on reporting of certain information related to credit card and prepaid accounts under the Truth in Lending Act, Regulation Z, and Regulation E.

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Housing Wire

FEBRUARY 16, 2022

If your state requires a lending license, make sure a the lender is licensed. In comparison to larger banks or even a local credit union, private lending is more reliant on relationships. Establish a private money lending network for real estate. How to Locate a Reputable Private Money Lender. Escrow officers and title agents.

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Housing Wire

AUGUST 5, 2022

During this period of rising rates and general rate volatility, having the cash and credit lines on hand to ride out the rough patches in the market — known as liquidity — can be what separates the winners from the losers in the mortgage industry. Security and Exchange Commission (SEC) shows. billion for the same quarter in 2021.

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Purchase and sale agreement Loans Mortgages Lending 370

Housing Wire

AUGUST 28, 2023

CEO Vishal Garg said in an interview with HousingWire that the company targets mortgage marketplace and white-label technology models. billion in production volume in the first half of 2023, refis accounted for $131 million and purchase loans consisted of $1.6 residential mortgages, the company said. in the same period in 2022.

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Housing Wire

MAY 11, 2021

The parent company of United Wholesale Mortgage (UWM) reported $860 million in net income during the first quarter of 2021, but there are clear signs that the going has already gotten tough. ” UWM’s quarterly earnings statement shows it did in fact increase its purchase business in the first quarter. billion in Q4.

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Housing Wire

JANUARY 12, 2022

Redwood, through its Sequoia Mortgage Trust (SEMT) conduit, brought to the market a total of nine securitization deals in 2021 backed by 4,705 loans valued at nearly $4.2 The first securitization deal of 2022 issued through Redwood’s Sequoia conduit (SEMT 2022-1) involved a loan pool of 751 mortgages valued at $687.2

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Housing Wire

MARCH 24, 2021

A week after the deadline to pick sides in United Wholesale Mortgage ‘s “all-in” ultimatum to mortgage brokers, Fairway Independent Mortgage is speaking out. Technology has given consumers the power of choice and expedited the entire real estate purchasing process. ” Fairway, which did about $3.5

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Purchase and sale agreement Loans Loan Officer Mortgages 378

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. Obviously to anyone in the business that’s a big deal given that FICO is a threshold data point that determines eligibility for a mortgage.

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Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. residential mortgage-backed securities (RMBS) operations.

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Housing Wire

JULY 13, 2021

Guaranteed Rate, the Chicago-based mortgage lender , and Compass, the New York City-headquartered residential real estate brokerage , “entered into a definitive agreement to form OriginPoint , a new mortgage origination company,” according to a press release Tuesday. billion in mortgages last year. Guaranteed Rate’s $73.9

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Housing Wire

APRIL 9, 2021

In Lender Letters issued on Thursday, Fannie Mae and Freddie Mac confirmed that loans purchased by the GSEs with application dates on and after July 1, 2021, must meet the standards of the Consumer Financial Protection Bureau’s Revised Qualified Mortgage Rule.

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Toronto Realty Blog

APRIL 18, 2022

by WATA, which not only sold for $870,000 last year, but which is now being offered for sale again at a reasonable $1,305,000. Because it’s a shot across the bow to anybody that is going to suggest an assumable mortgage is not a commodity that can, or will, be bought and sold with regularity in the coming months.

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Housing Wire

NOVEMBER 20, 2020

Beyond any political views of the election and the ensuing drama, industry is asking: What will a Biden regime mean to housing and mortgages? For that reason, I do not expect the aggressive regulatory posture overseeing mortgage lenders to be like it was under Obama. With home sales being a bright spot in the U.S.

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Purchase and sale agreement Banks Mortgages Finance 521

HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. Purchase mortgages today are taking over 40 days to close on average.

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Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. But it turns out there are a few paths you can still take.

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Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

HomeLight

AUGUST 16, 2021

And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. Though short sales aren’t as prevalent today as they were following the Great Recession , they’re not impossible to find, and good deals for buyers can still be had. What exactly is a short sale? It’s a long sale.

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HomeLight

OCTOBER 1, 2020

But for some buyers, that excitement can quickly turn to anxiety when it comes time to sign the purchase contract. Once you and the seller sign the purchase agreement, things start to get real. They’re protective clauses you put in your contract with the seller that allow you an out if certain conditions of the sale aren’t met.

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HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Source: Ice Mortgage Technologies , Data for Sept. Average time to close.

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Realty Biz

JULY 1, 2023

Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Step 1: Initiating the Transaction Learning about escrow and initiating the process is an important step that occurs once the buyer and seller have agreed upon the terms of the home purchase.

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Realty Biz

OCTOBER 20, 2023

This value is based on a variety of factors, including the property's location, size, condition, and comparable sales in the area. Home appraisals are typically required by lenders when a homebuyer applies for a mortgage loan. Mortgage Financing For many homebuyers, obtaining a mortgage is an integral part of the home-buying process.

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