Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs. DSCR loans are always a popular option.

Debt-to-income ratio 427

Debt-to-income ratio Mortgages Banks Investor 427

Housing Wire

FEBRUARY 22, 2024

A suspected fraudster nearly brought financial ruin to an elderly resident of London, Ontario in Canada , but an area reverse mortgage professional’s quick thinking is credited with leading to the suspect’s arrest, according to a news release from the London Police Service.

Mortgages 409

Mortgages Renovation Loans As-is 409

Housing Wire

APRIL 23, 2024

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” That’s kind of evaporated,” Martell said on Tuesday morning in a session during The Gathering , HousingWire’s real estate and mortgage conference held in Scottsdale, Arizona.

Mortgages 363

Mortgages Technology Equity Renovation 363

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 473

Mortgages VA loan Finance Loans 473

Housing Wire

JUNE 8, 2021

EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8 EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. EnerBank funds most of its loans on its balance sheet through FDIC -insured brokered CDs; it also charges fees to the contractors.

Banks 415

Banks Renovation Marketing Lending 415

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. FoA) months after it shut down its forward mortgage segment. billion during the same period in 2022, according to Inside Mortgage Finance (IMF).

Mortgages 418

Mortgages Lending Finance Loans 418

Housing Wire

MARCH 13, 2023

Retail lender Guild Mortgage announced the acquisition of Cherry Creek Mortgage , a privately-held Colorado-based lender with 68 branches in 45 states. Established in 1987, Cherry Creek offers a wide range of mortgage products including conventional, FHA, VA USDA, USDA, reverse mortgages and home renovation loans.

Mortgages 370

Mortgages Loan Officer Loans Renovation 370

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Mortgages 429

Mortgages Finance Lending Equity 429

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 397

Mortgages Lending Loan Officer Loans 397

Maximum Exposure Real Estate

APRIL 17, 2021

What Are The Mortgage Options For Home Renovation Loans Are you looking for a home improvement loan? Do you know all the options for home renovation loans? Over the years in my work for a mortgage company, I’ve been asked about the various options for home renovation mortgages numerous times.

Renovation 145

Renovation Loans Mortgages 145

Housing Wire

JULY 1, 2022

Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021. million first-lien residential mortgages with $2.6

Banks 384

Banks Mortgages Principal Short sale 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

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Lending 430

Lending Loans Renovation Mortgages 430

Housing Wire

MARCH 22, 2023

Department of Veterans Affairs (VA) announced on Wednesday that it will lower the VA Native American Direct Loan (NADL) program interest rate from 6% to 2.5% in an effort to make housing loans more affordable for Native American military veterans. interest rate for the life of the loan. from 2012 to 2021.

VA loan 397

VA loan Mortgages Land Loans 397

Keeping Current Matters

OCTOBER 13, 2021

If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The difference in the cost of a renovation versus a purchase. If you decide to renovate, you’ll need to refinance (or take out an equity loan) to access the equity.

Renovation 274

Renovation Equity Mortgages Design 274

HomeLight

MAY 8, 2024

Are you considering a hard money loan to fast-track your next real estate investment? Whether you’re planning to flip a house or purchase a rental property, a streamlined hard money loan can be a helpful option. What is a hard money loan? How does a hard money loan work?

Hard money loan 108

Hard money loan Loans Home sale contingency Finance 108

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. The group will be branded as Shamrock, Powered by CMG Home Loans. 21, NMLS showed the lender had eight loan officers and 13 branches. year over year.

Loan Officer 419

Loan Officer Lending Loans Finance 419

HomeLight

MAY 10, 2024

A home equity loan can be a life-lifting tool for funding home renovations, consolidating debt, or covering unexpected expenses. How long does it take to get a home equity loan? In this guide, we’ll provide insights and tips about home equity loans and how long it takes to access the funds you need.

Equity 95

Equity Loans Renovation Finance 95

Housing Wire

FEBRUARY 21, 2024

The new loss-mitigation alternative resulted from the FHA’s acknowledgment that its toolkit wasn’t enough to support struggling borrowers as mortgage rates surged. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae. Since March 2020, lenders and servicers have provided borrowers with nearly 1.9

Principal 431

Principal Loans Mortgages Renovation 431

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

FHA loan 367

FHA loan Renovation Equity Loans 367

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. I feel bad trying to convince somebody that it’s a good time to buy and get a mortgage. higher than last year.

Mortgages 384

Mortgages Loan Officer Loans Equity 384

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

Mortgages 397

Mortgages Equity Loans Lending 397

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 420

Lending New Construction Construction Finance 420

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation 384

Renovation Fixed-rate mortgage Equity Finance 384

Housing Wire

APRIL 14, 2022

economy, it doesn’t appear that mortgage rates will be dropping below that mark anytime soon. Purchase mortgages this week averaged 5%, up 28 basis points from 4.72% a week ago , according to the latest Freddie Mac PMMS. The GSE’s index accounts for just purchase mortgages reported by lenders over the past three days.

Mortgages 421

Mortgages Fixed-rate mortgage Banks Equity 421

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. In turn, LOs will be fighting for a piece of the mortgage pie with less rate-sensitive mortgage products, just as they did in 2022.

Loans 410

Loans Renovation Construction Mortgages 410

Housing Wire

FEBRUARY 13, 2024

homeowners with outstanding mortgages, or some 63% of all homes, equity tied up in real estate jumped by 6.8% It features tools for data visualization of home value, mortgage debt and current equity, as well as estimates for up to 10 years. The borrower is not required to repay the loan via monthly installments.

Equity 381

Equity Renovation Loans Investor 381

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. Consider this: The average rate on a 30-year fixed mortgage remains above 7%, the highest it’s been in more than 20 years. But it’s not all grim news.

Equity 446

Equity Lending Banks Loans 446

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Under this policy, lenders can include income earned from ADUs when underwriting their mortgage.

Finance 485

Finance Construction Loans Renovation 485

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officer 409

Loan Officer Lending Technology Loans 409

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. billion, according to data from Inside Mortgage Finance. Nearly 92% of U.S.

Loan Officer 370

Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

JULY 14, 2022

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. billion manufactured home purchase mortgages in 2021, according to HMDA data. In 2021, FHA financed 0.5%

Title 382

Title Land Finance Renovation 382

The Mortgage Report

APRIL 21, 2021

Historic home renovations can be expensive. Luckily, there are loans, grants, and tax breaks that can make the renovation process more affordable.

Renovation 119

Renovation Loans Mortgages 119

The Mortgage Report

APRIL 21, 2021

Historic home renovations can be expensive. Luckily, there are loans, grants, and tax breaks that can make the renovation process more affordable.

Renovation 119

Renovation Loans Mortgages 119

Point2Homes

MAY 21, 2021

Below, we’ll review first-time homebuyer loans and programs that will give you a better deal when you purchase a house. In fact, if you choose one of these first-time homebuyer programs , you may even see significant savings compared to a traditional or conventional mortgage. USDA Loans. Fannie Mae & Freddie Mac.

Loans 144

Loans VA loan FHA loan Renovation 144

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.

Investor 384

Investor Renovation Principal Loans 384

Housing Wire

APRIL 20, 2021

“They got their lunch handed to them — it was lose, lose, lose, lose,” said David Snover, the mortgage originator Patrick worked with. After months of slogging through a string of disappointments, Patrick turned to a renovation loan and started looking at fixer-uppers.

Renovation 441

Renovation Loans Construction Finance 441