Housing Wire

MARCH 1, 2024

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. He declined to comment further.

Loans 411

Loans Loan Officer Commercial Brokerage 411

Housing Wire

MARCH 18, 2024

will move its servicing operations to the industry-leading MSP loan servicing system from ICE Mortgage Technology , ICE announced on Monday. With Lennar already leveraging ICE’s loan origination system, Encompass , the company will benefit from a seamless, digital mortgage ecosystem, the news release stated.

Loans 406

Loans Mortgages Technology Finance 406

Housing Wire

FEBRUARY 7, 2024

Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Hardiman first joined Embrace Home Loans in 2008 as a project manager, the news release stated. In his new role, Hardiman will lead its lending and fulfillment operations. “We

Loans 375

Loans Lending Sales Mortgages 375

Housing Wire

JANUARY 31, 2024

Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We We are thrilled to welcome the Montana team to our Evergreen family,” Robert Lipston, the company’s executive vice president of production, said in a statement.

Loans 368

Loans Mortgages As-is 368

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. Ultimately, the FHFA announced a 12.21% increase in loan limits for 2023. Virgin Islands.

Loans 533

Loans Finance Mortgages Land 533

Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct. This represents a 3.2%

Loans 430

Loans VA loan Finance Mortgages 430

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. Anchor Loans was acquired by investment firm Pretium in November 2021.

Loans 432

Loans Investor Banks Finance 432

Housing Wire

MARCH 28, 2024

million in new grant and loan awards under the Green and Resilient Retrofit Program (GRRP), which brings the level of total funding awarded under it to $544 million, now comprising more than 50% of the full allocation. Department of Housing and Urban Development (HUD) on Thursday announced $173.8 million grant under the GRRP program.

Loans 353

Loans Renovation Development 353

Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. FHA rates were at 6.759% and rates for jumbo loans were even higher, at 7.333%.

Loans 392

Loans VA loan FHA loan Mortgages 392

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 412

FHA loan Loans Finance Mortgages 412

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 355

VA loan Loans Loan Officer FHA loan 355

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

Lending 369

Lending Banks Loans Renovation 369

Housing Wire

FEBRUARY 5, 2024

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. In a statement, Hecht expressed his enthusiasm about joining OneTrust Home Loans. Hecht has a reputation for building high-performing teams and driving production growth, the company’s news release states.

Loans 375

Loans Lending Construction Banks 375

Housing Wire

OCTOBER 7, 2023

United Wholesale Mortgage , the country’s top mortgage lender, announced an enhancement to its PA+ service on Saturday, allowing brokers and their processors to choose which part of the loan process they would like a lender’s loan coordinator to handle. That’s the most time-consuming part of the loan process.

Loans 429

Loans Mortgages Closing Agents 429

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Loans 446

Loans FHA loan Equity Mortgages 446

Housing Wire

SEPTEMBER 19, 2023

Alterra Home Loans , a Nevada headquartered retail lender and a Panorama Mortgage Group company, has promoted Fernando Ospina to president. He originated more than $46 million in loans in 2022, the company said. billion across 3,900 loans in 2022, data from mortgage data platform Modex showed. The company originated $1.23

Loans 414

Loans Lending Residential Mortgages 414

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

VA loan 421

VA loan Loans Loan Officer Brokerage 421

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

Loan Officer 402

Loan Officer Loans Mortgages Agents 402

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 402

Loans Due diligence Loan Officer Mortgages 402

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. In theory, this means loan officers provide the same service and pricing on loans, reducing the risk of steering.

Loan Officer 454

Loan Officer Loans Lending Mortgages 454

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

Loans 381

Loans Lending Equity Mortgages 381

Housing Wire

FEBRUARY 22, 2024

The product is limited to conventional loans, primary residences and buyers who are represented by a real estate agent. “In The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies.

Loans 360

Loans Mortgages Finance Agents 360

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So

FHA loan 441

FHA loan Loans Loan Officer Mortgages 441

Housing Wire

JUNE 28, 2023

United Wholesale Mortgage (UWM) announced this week that it has added four bank statement loan offerings for self-employed borrowers. To qualify for loans of up to $3 million with up to 90% loan-to-value (LTV), self-employed borrowers can now provide bank statements to verify income rather than tax returns, W2s or pay stubs.

Banks 355

Banks Loans Lending Mortgages 355

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 502

Loans Debt-to-income ratio Lending Banks 502

Housing Wire

NOVEMBER 9, 2022

Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. What is a home equity loan? Home equity loans have a fixed interest rate and a set schedule of fixed payments for the life of the loan. Read on to find out. Pros and cons.

Equity 531

Equity Loans Principal Pre-approval 531

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

Loans 385

Loans Mortgages Development As-is 385

Housing Wire

SEPTEMBER 25, 2023

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept.

Loans 398

Loans Mortgages Bankruptcy Residential 398

Housing Wire

MARCH 1, 2024

From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loan officers in a new book titled, “Rethink Everything: You ‘Know’ About Being A Next-Gen Loan Officer.”

Loan Officer 370

Loan Officer Loans Marketing Title 370

Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the first to provide either a 2-1 rate buydown or a 1-0 rate buydown on a DPA program.

FHA loan 360

FHA loan Loans Mortgages Finance 360

Housing Wire

OCTOBER 10, 2023

Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. According to Amor, raising the loan limits lets G-Rate “move closer to the general market.” “But

Loans 360

Loans Banks Mortgages Finance 360

Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

Loans 542

Loans VA loan FHA loan Finance 542

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 loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 379

Loans Debt-to-income ratio Banks Mortgages 379

Housing Wire

SEPTEMBER 28, 2023

Jim Anderson Colorado-based lender Loan Simple brought on Jim Anderson as its new chief marketing officer. Prior to Finance of America, Anderson held CMO positions at Stearns Lending and Certainty Home Loans. Loan Simple originated $411 million in production volume across 1,293 loans in 2022, according to mortgage data platform Modex.

Loans 375

Loans Marketing Lending Finance 375

Housing Wire

JUNE 5, 2023

Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.

Loan Officer 378

Loan Officer Loans Mortgages FHA loan 378

Housing Wire

DECEMBER 5, 2023

California-based Pennymac Financial Services ’s broker division, Pennymac TPO , launched a home equity loan product as tappable home equity nears its 2022 peak. A home equity loan — also known as a second mortgage — enables a homeowner to borrow money by leveraging equity in a home. Pennymac’s home equity loan for brokers comes as U.S.

Equity 374

Equity Loans Mortgages Technology 374

Housing Wire

JUNE 30, 2023

The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2023-14 this week, which increases the threshold from $75 million to $120 million for multifamily loans to be considered large loans. FHA’s other requirements in the MAP Guide related to Large Loans remain unchanged.”

Loans 378

Loans Development Finance Design 378