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In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. That implies a market size [today] somewhere between $175 billion to maybe $200 billion,” he said. “We MORE
Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years. MORE
has long been a major player in the private-label securitization market, and it sees a looming problem brewing in the housing industry. That issue is about boundaries — specifically, the line drawn between the roles of private industry and the government in the housing market. MORE
The integration will see Polly’s Pricing Engine incorporate Blends POS via API connectivity – giving LOs the capability to capture financial data while simultaneously determining loan pricing and terms. MORE
Sales of reperforming loans nosedived in 2020 as the pandemic took root in America, but sales volume appears to have recovered with vigor, based on an analysis of RPL offerings for government-sponsored enterprise Fannie Mae. MORE
The number of loans in forbearance stood unchanged from last week at 3.25% for the week ending on Aug. The share of Fannie Mae and Freddie Mac loans in forbearance remained the same, at 1.66%. million loans. MORE
While the rate of forbearance increased across all loans and servicer types, for the first time in 25 weeks, the share of Fannie Mae and Freddie Mac loans in forbearance increased to 3.36% — a 1-basis-point gain. The U.S. MORE
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $4,548 on each loan they originated in the second quarter of 2020 – nearly tripling the average first-quarter gain of $1,600 per loan, according to a report by the Mortgage Bankers Association. MORE
Census Bureau reveals that conventional loans financed 75.7% Read More › Economics conventional loans conventional loans market share FHA FHA loans interest rates mortgage financing new home cash purchases new home sales sales by financing sources of financing VA VA backed loans MORE
forbearance rate measuring the share of mortgages with suspended payments fell 16 basis points to 5.67% last week, with four of the five loan types dropping by double-digit basis points, according to the Mortgage Bankers Association. The U.S. MORE
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. MORE
SitusAMC subsidiary Securent is expanding its reach into the private-label market with plans to soon introduce a loan-defect insurance product for residential mortgage-backed securities (RMBS) transactions, according to executives from both companies. SitusAMC CEO Michael Franco. MORE
Mortgage lender Home Point Financial , which does business as Homepoint , is poised to exit the Ginnie Mae mortgage-servicing rights market, according to its CEO and filings with the Securities and Exchange Commission. Home Point Financial President and CEO Willie Newman. MORE
In the decade since Fannie Mae launched the industry’s first multifamily green initiative, the GSEs and FHA have provided over $150 billion in multifamily green loans, conserving energy, water, and reducing carbon emissions in properties across the country. MORE
PennyMac announced this week that it is upping conforming loan limits by almost 14% through broker and correspondent channels. The post PennyMac, UWM raise conforming loan limit ceiling appeared first on HousingWire. MORE
market for mortgages that have been dinged up by the pandemic. The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust , has securitized some 45,000 reperforming loans valued in aggregate at $6.8 MORE
Earlier in the month, PennyMac Financial and United Wholesale Mortgage publicly announced that they are each raising their conforming loan ceilings by 14%, nearly two months ahead of the Federal Housing Finance Agency ‘s official decree. MORE
With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire. MORE
To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. loans per month in Q3 2021, versus an average of 9.0 MORE
For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway. The post Renovation loans get pandemic boost as homeowners want home offices appeared first on HousingWire. MORE
It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. It began 2021 in 14 markets and is now in 70. MORE
The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. The concept is simple: A random sample of loans is selected for due-diligence review from a larger pool of loans that often numbers in the thousands. MORE
JPMorgan Chase has tightened mortgage terms on jumbo loans for co-operatives and condominiums in Manhattan amid shrinking buyer demand, Bloomberg reported on Friday. Chase announced that, beginning this week, it would limit jumbo loans to 70% of the sale price. MORE
Secondly, the coronavirus pandemic has created a critical need to provide timely and compassionate borrower relief in the form of forbearance and loan modifications. Today’s servicers are working in a challenging environment due to several compounding factors. MORE
Morgan Mortgage Trust , so far this year has sponsored 13 private-label securitization offerings backed by jumbo loans valued at $13.8 Morgan has been a dominant force in the jumbo-loan securitization market so far this year. Morgan , through its private label conduit , J.P. MORE
loanDepot announced this week that it will begin servicing Ginnie Mae loans in-house, following a 2021 decision to do the same for Fannie Mae and Freddie Mac -backed loans. The post loanDepot brings Ginnie Mae loan servicing in-house appeared first on HousingWire. MORE
The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. These gains have lifted the year-over-year growth rate, marking an expansion of outstanding loans for home builders. MORE
from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement. MORE
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. Yes, we’re talking about a bridge loan. The post What is a bridge loan? MORE
Given massive year-over-year gains in home prices , the Federal Housing Administration (FHA) is increasing its 2021 loan limit in most of the U.S. to $356,362, an increase of nearly $25,000 over 2020’s loan limit of $331,760. In 125 counties, FHA’s loan limits will remain unchanged. MORE
Sanjiv Das, CEO of Caliber Home Loans , is stepping down as CEO of the company, less than one year after New Residential Investment Corp. The post Caliber Home Loans CEO Sanjiv Das steps down appeared first on HousingWire. MORE
With more borrowers exiting forbearance in the prior week, the share of loans in forbearance declined across all loan types. Approximately 23.95% of total loans in forbearance are in the initial stage, while 74.49% are in a forbearance extension. The U.S. MORE
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. MORE
Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. The post Caliber Home Loans plans $2B-plus IPO appeared first on HousingWire. MORE
The Federal Housing Finance Agency (FHFA) announced on Wednesday that due to “low usage” it is no longer extending expirations on certain temporary loan origination flexibilities for Fannie Mae and Freddie Mac. MORE
has sponsored 18 private-label transactions so far in 2021 backed by more than 20,000 loans valued collectively at $9.9 Goldman Sachs’ string of residential mortgage-backed securities (RMBS) offerings this year were dominated by a dozen prime jumbo-loan deals backed by loan pools valued at $7.7 MORE
Over half of non-homeowning millennials (60%) say student loan debt is delaying them from purchasing a home, making them the population most affected by student debt , according to the National Association of Realtors’ 2021 impact of student loan debt report. MORE
A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday. The survey focuses on conventional, conforming, and fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. MORE
Housing Wire
DECEMBER 20, 2021
has long been a major player in the private-label securitization market, and it sees a looming problem brewing in the housing industry. That issue is about boundaries — specifically, the line drawn between the roles of private industry and the government in the housing market.
Housing Wire
NOVEMBER 3, 2021
market for mortgages that have been dinged up by the pandemic. The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust , has securitized some 45,000 reperforming loans valued in aggregate at $6.8
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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. Yes, we’re talking about a bridge loan. The post What is a bridge loan?
Housing Wire
OCTOBER 1, 2021
PennyMac announced this week that it is upping conforming loan limits by almost 14% through broker and correspondent channels. The post PennyMac, UWM raise conforming loan limit ceiling appeared first on HousingWire.
Housing Wire
OCTOBER 11, 2021
Earlier in the month, PennyMac Financial and United Wholesale Mortgage publicly announced that they are each raising their conforming loan ceilings by 14%, nearly two months ahead of the Federal Housing Finance Agency ‘s official decree.
Housing Wire
JANUARY 19, 2022
from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement.
Housing Wire
DECEMBER 16, 2021
The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. The concept is simple: A random sample of loans is selected for due-diligence review from a larger pool of loans that often numbers in the thousands.
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.
Housing Wire
JANUARY 29, 2021
Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years.
Housing Wire
DECEMBER 16, 2021
It is an eventful week within the Slack channels of Knock , and an anxiety-filled one for the company’s about 50 loan officers. Knock loan officers draw a median salary of about $75,000 a year, according to these company sources. It began 2021 in 14 markets and is now in 70.
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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Housing Wire
OCTOBER 14, 2021
Sales of reperforming loans nosedived in 2020 as the pandemic took root in America, but sales volume appears to have recovered with vigor, based on an analysis of RPL offerings for government-sponsored enterprise Fannie Mae.
Housing Wire
DECEMBER 10, 2021
In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. That implies a market size [today] somewhere between $175 billion to maybe $200 billion,” he said. “We
Housing Wire
JANUARY 24, 2022
Sanjiv Das, CEO of Caliber Home Loans , is stepping down as CEO of the company, less than one year after New Residential Investment Corp. The post Caliber Home Loans CEO Sanjiv Das steps down appeared first on HousingWire.
Housing Wire
NOVEMBER 2, 2020
With more borrowers exiting forbearance in the prior week, the share of loans in forbearance declined across all loan types. Approximately 23.95% of total loans in forbearance are in the initial stage, while 74.49% are in a forbearance extension. The U.S.
Housing Wire
SEPTEMBER 16, 2021
Over half of non-homeowning millennials (60%) say student loan debt is delaying them from purchasing a home, making them the population most affected by student debt , according to the National Association of Realtors’ 2021 impact of student loan debt report.
Housing Wire
NOVEMBER 3, 2021
To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. loans per month in Q3 2021, versus an average of 9.0
Housing Wire
SEPTEMBER 29, 2020
In the decade since Fannie Mae launched the industry’s first multifamily green initiative, the GSEs and FHA have provided over $150 billion in multifamily green loans, conserving energy, water, and reducing carbon emissions in properties across the country.
Housing Wire
JANUARY 4, 2022
loanDepot announced this week that it will begin servicing Ginnie Mae loans in-house, following a 2021 decision to do the same for Fannie Mae and Freddie Mac -backed loans. The post loanDepot brings Ginnie Mae loan servicing in-house appeared first on HousingWire.
Housing Wire
OCTOBER 27, 2021
The integration will see Polly’s Pricing Engine incorporate Blends POS via API connectivity – giving LOs the capability to capture financial data while simultaneously determining loan pricing and terms.
Housing Wire
DECEMBER 9, 2021
has sponsored 18 private-label transactions so far in 2021 backed by more than 20,000 loans valued collectively at $9.9 Goldman Sachs’ string of residential mortgage-backed securities (RMBS) offerings this year were dominated by a dozen prime jumbo-loan deals backed by loan pools valued at $7.7
Housing Wire
NOVEMBER 9, 2020
forbearance rate measuring the share of mortgages with suspended payments fell 16 basis points to 5.67% last week, with four of the five loan types dropping by double-digit basis points, according to the Mortgage Bankers Association. The U.S.
Housing Wire
NOVEMBER 11, 2021
With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.
Housing Wire
NOVEMBER 5, 2021
Morgan Mortgage Trust , so far this year has sponsored 13 private-label securitization offerings backed by jumbo loans valued at $13.8 Morgan has been a dominant force in the jumbo-loan securitization market so far this year. Morgan , through its private label conduit , J.P.
Housing Wire
APRIL 21, 2021
The Federal Housing Finance Agency (FHFA) announced on Wednesday that due to “low usage” it is no longer extending expirations on certain temporary loan origination flexibilities for Fannie Mae and Freddie Mac.
Housing Wire
OCTOBER 2, 2020
Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. The post Caliber Home Loans plans $2B-plus IPO appeared first on HousingWire.
Housing Wire
JANUARY 5, 2022
SitusAMC subsidiary Securent is expanding its reach into the private-label market with plans to soon introduce a loan-defect insurance product for residential mortgage-backed securities (RMBS) transactions, according to executives from both companies. SitusAMC CEO Michael Franco.
Housing Wire
NOVEMBER 9, 2020
JPMorgan Chase has tightened mortgage terms on jumbo loans for co-operatives and condominiums in Manhattan amid shrinking buyer demand, Bloomberg reported on Friday. Chase announced that, beginning this week, it would limit jumbo loans to 70% of the sale price.
Housing Wire
DECEMBER 9, 2021
A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday. The survey focuses on conventional, conforming, and fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Housing Wire
JANUARY 31, 2021
Secondly, the coronavirus pandemic has created a critical need to provide timely and compassionate borrower relief in the form of forbearance and loan modifications. Today’s servicers are working in a challenging environment due to several compounding factors.
Housing Wire
SEPTEMBER 2, 2020
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $4,548 on each loan they originated in the second quarter of 2020 – nearly tripling the average first-quarter gain of $1,600 per loan, according to a report by the Mortgage Bankers Association.
Eyes on Housing
OCTOBER 29, 2021
Census Bureau reveals that conventional loans financed 75.7% Read More › Economics conventional loans conventional loans market share FHA FHA loans interest rates mortgage financing new home cash purchases new home sales sales by financing sources of financing VA VA backed loans
Housing Wire
SEPTEMBER 23, 2020
For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway. The post Renovation loans get pandemic boost as homeowners want home offices appeared first on HousingWire.
Housing Wire
NOVEMBER 8, 2021
Mortgage lender Home Point Financial , which does business as Homepoint , is poised to exit the Ginnie Mae mortgage-servicing rights market, according to its CEO and filings with the Securities and Exchange Commission. Home Point Financial President and CEO Willie Newman.
Housing Wire
AUGUST 30, 2021
The number of loans in forbearance stood unchanged from last week at 3.25% for the week ending on Aug. The share of Fannie Mae and Freddie Mac loans in forbearance remained the same, at 1.66%. million loans.
Housing Wire
DECEMBER 1, 2020
While the rate of forbearance increased across all loans and servicer types, for the first time in 25 weeks, the share of Fannie Mae and Freddie Mac loans in forbearance increased to 3.36% — a 1-basis-point gain. The U.S.
Eyes on Housing
SEPTEMBER 8, 2021
The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. These gains have lifted the year-over-year growth rate, marking an expansion of outstanding loans for home builders.
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