Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% compared to the prior month.

Mortgages 318

Mortgages Finance Equity Principal 318

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% That was down 3.6%

Mortgages 363

Mortgages Seller concession Principal Loans 363

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 385

Mortgages Principal Loans Loan Officer 385

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. Wells Fargo CEO Charlie Scharf told analysts that “credit trends remain generally consistent“ and loan delinquencies continue to perform as forecasted.

Mortgages 387

Mortgages Banks Fixed-rate mortgage Lending 387

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).

Mortgages 365

Mortgages Loans Equity Principal 365

Housing Wire

APRIL 7, 2022

Fannie Mae is marketing its 25th sale of reperforming loans since its first offering six years ago and its second sale so far in 2022. The offering is comprised of 7,600 mortgages with total unpaid principal balance of $1.49 The transaction involves three loan pools — with pool 1 composed of loans with about $603.5

Loans 365

Loans Sales Due diligence Principal 365

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 338

Mortgages Loan Officer Principal Loans 338

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. In its mortgage division, Rithm recorded a total pretax income of $408.1 At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year.

Mortgages 383

Mortgages Equity Principal Finance 383

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 350

Marketing Principal Banks Loans 350

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 billion in closed loan volume, down from $133.1

Mortgages 417

Mortgages Principal Lending Loans 417

Housing Wire

FEBRUARY 8, 2022

Fannie Mae this week unveiled its 24th sale of reperforming loans since its first offering in 2016. The current deal is composed of more than 8,000 mortgages with an aggregate unpaid principal balance of $1.3 The transaction involves three loan pools — with pool 1 composed of loans with about $421.2

Loans 361

Loans Sales Principal Mortgages 361

Housing Wire

MAY 8, 2024

mortgage lender Newrez , owned by asset manager Rithm Capital , is imposing a round of layoffs to its workforce following the acquisitions of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). The layoffs include mortgage professionals such as processors, underwriters and loan officers.

Loan Officer 367

Loan Officer Principal Loans Mortgages 367

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. ” Gano’s experiences reflect what happened in the market overall. .” ” Gano’s experiences reflect what happened in the market overall.

Seller concession 523

Seller concession Mortgages Loan Officer Loans 523

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. That’s 20 basis points higher than the international standard.

Mortgages 339

Mortgages Banks Marketing Residential 339

Housing Wire

MARCH 20, 2024

I don’t expect we’ll see much of a market reaction to the Fed meeting this week because the Fed is waiting for the incoming data, just like the rest of us,” said Danielle Hale, chief economist at Realtor.com. It seems to me they didn’t want to make that same mistake today.” “I

Industrial 410

Industrial Mortgages Banks Principal 410

Housing Wire

DECEMBER 6, 2023

In September 2022, the 30-year fixed mortgage rate averaged 6.1%, according to Freddie Mac data. But compare mortgage delinquencies over the same period: 2.8% But compare mortgage delinquencies over the same period: 2.8% If the labor market weakens in the coming months, expect further increases in mortgage delinquencies.”

Mortgages 430

Mortgages Principal Staging Loans 430

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 377

Loans Debt-to-income ratio Banks Mortgages 377

Housing Wire

JUNE 14, 2022

Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 The nonperforming loans involved in the deal, dubbed FNMA 2022-NPL1 , were divided into two pools, with MCLP the winning bidder for both pools.

Loans 364

Loans Purchase and sale agreement Sales Principal 364

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. The post Fannie Mae’s sales of reperforming loans are on the rise appeared first on HousingWire.

Loans 357

Loans Sales Principal Mortgages 357

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 376

Loans Purchase and sale agreement Sales Principal 376

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

Mortgages 336

Mortgages Marketing Loans Banks 336

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 353

Industrial Mortgages Principal Loans 353

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” But the housing market in the second half of 2022? “The By September, a full-fledged housing market recession had set in.

Equity 508

Equity Marketing Loans Bankruptcy 508

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. million. .

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

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. John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 415

Mortgages Banks Loans Industrial 415

Housing Wire

SEPTEMBER 6, 2023

In the face of spiking interest rates and historically high home prices , $3,000 monthly mortgage payments are common in today’s housing market. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter. That share fell to just 0.4%

Equity 403

Equity Mortgages Principal Loans 403

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 333

Sales Mortgages Loans Loan Officer 333

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 Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.).

Loans 442

Loans Title Finance Lending 442

Housing Wire

SEPTEMBER 29, 2023

In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. According to the brokerage, 6.5% the month prior. The median U.S.

Mortgages 500

Mortgages Principal Brokerage Finance 500

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

FHA loan 374

FHA loan Mortgages Loan Officer VA loan 374

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

Loans 300

Loans Marketing Due diligence Residential 300

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. This is a different situation.” This represents $15.6

Mortgages 409

Mortgages Bankruptcy Principal Finance 409

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. market share and a $380.2

Mortgages 345

Mortgages Pre-approval Principal Loans 345

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 441

VA loan Loans Principal Mortgages 441

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 301

Principal Technology Mortgages Loans 301

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 365

Due diligence Mortgages Principal Lending 365

Housing Wire

OCTOBER 2, 2023

Prices in nearly half of the nation’s 50 largest markets climbed by 0.75% or more. Even on a non-adjusted basis, August’s gain of 0.24% was more than 60% larger than the 25-year average for the month, according to a mortgage monitor report from Intercontinental Exchange, Inc.

Mortgages 398

Mortgages Equity Lending Principal 398