Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8

Sales 393

Sales Principal Loans Banks 393

Housing Wire

APRIL 1, 2024

In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the UPB has diminished right.

Sales 382

Sales Loan Officer Principal Loans 382

Housing Wire

MARCH 5, 2024

Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 In addition, NYCB is also responsible for a subservicing portfolio close to $300 billion in UPB, comprehending about 1 million loans, per KBW analysts’ estimate. billion put even more pressure.

Sales 392

Sales Banks Principal Loans 392

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. A unified name has not yet been determined and Sales Boomerang and Mortgage Coach will continue to operate as distinct brands, for now, the companies said.

Sales 392

Sales Mortgages Loan Officer Principal 392

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.” In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 362

Sales Mortgages Loans Loan Officer 362

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 392

Sales Mortgages Principal Equity 392

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

OCTOBER 21, 2021

An offering of Fannie Mae and Freddie Mac mortgage servicing rights (MSR) linked to a loan pool valued at nearly $2.2 The MSR offering involves a loan pool of 4,201 Fannie Mae loans with an unpaid principal balance of $1.15 The post Rising rates, tax questions driving MSR sales surge appeared first on HousingWire.

Sales 351

Sales Principal Loans Mortgages 351

Housing Wire

FEBRUARY 21, 2024

Regarding other initiatives, Gordon said the FHA is “also hoping soon to put out our servicing defect taxonomy ” and, in the near future, will be releasing a mortgagee letter for the 203(k) renovation loan program. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae.

Principal 411

Principal Loans Mortgages Renovation 411

Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit.

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

Housing Wire

AUGUST 10, 2022

That’s a healthy showing, considering over the same period UWM’s loan-origination volume dipped from $59.2 Rising interest rates have crimped loan production for virtually all mortgage lenders as more and more borrowers are forced to forestall home purchases or have no incentive to refinance. billion to $29.9 million to $348 million.

Sales 393

Sales Purchase and sale agreement Loans Mortgages 393

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

VA loan 442

VA loan Loans Principal Mortgages 442

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

Investor 327

Investor Sales Mortgages Loan Officer 327

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I

Sales 378

Sales Lending Principal Banks 378

Housing Wire

MAY 7, 2024

Describing reverse mortgages as originating in 1961 before coming to greater prominence through the establishment of the HECM program during the Reagan administration, one of two recent NAR articles dealing with reverse mortgage-related subject matter stated that home sales and purchases are becoming a more common topic within HECM circles.

Mortgages 433

Mortgages Principal Equity Loans 433

Housing Wire

NOVEMBER 2, 2023

However, gain-on-sale margins posted for the third quarter of 2023 were 276 points, up from the previous quarter’s 267 points. “We This was the result of strong execution and continued expansion in the gain-on-sale margin.” billion in sold loans through its direct-to-consumer channel, down from $12.4 Rocket generated $22.2

Principal 414

Principal Loans Technology Mortgages 414

Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit.

Mortgages 388

Mortgages VA loan Principal Loans 388

Housing Wire

MAY 9, 2024

“I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in originations, market share gains, and the addition of more than 600 licensed loan originators,” said Terry Schmidt, Guild CEO. Net revenue sharply increased to $231.8 million from only $57.2

Principal 335

Principal Technology Mortgages Loans 335

Housing Wire

APRIL 24, 2024

The company’s loan production pretax income was $35.9 Pennymac reported that the quarterly increase in production revenue was primarily tied to higher net gains on loans held for sale at fair value due to higher volumes in its direct-to-consumer channel. The total value of its loan acquisitions and originations dropped to $21.7

Lending 408

Lending Loans Principal Mortgages 408

Housing Wire

NOVEMBER 7, 2023

loanDepot had “lower pull through weighted lock volume partially offset by higher pull through weighted gain-on-sale margin.” loanDepot’s loan origination volume came in at $6.1 The pull-through gain-on-sale margin was 2.93% in the third quarter, better than the 2.85% registered in the previous quarter.

Principal 413

Principal Loans Sales Mortgages 413

Housing Wire

JULY 1, 2022

Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8% were “combination modifications,” where interest rate reductions and term extensions are applied to a loan to help bring down a borrowers mortgage payment. decrease from the previous quarter.

Banks 382

Banks Mortgages Principal Short sale 382

Housing Wire

SEPTEMBER 29, 2023

homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. According to the brokerage, 6.5% the month prior. The median U.S.

Mortgages 502

Mortgages Principal Brokerage Finance 502

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. The report was based on unnamed sources and indicated the sales were being handled “inhouse.” billion based on the unpaid principal balance (UPB), down from $679.2

Principal 413

Principal Loans Banks Mortgages 413

Housing Wire

APRIL 30, 2024

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. Gain-on-sale margins marginally recovered to 1.29% in the first quarter, up from 1.23% in the previous quarter. million in pretax income. This is not a race to get bigger.

Mortgages 412

Mortgages Equity Principal Finance 412

Housing Wire

NOVEMBER 8, 2023

California lender Guild M o rtgage reported an increased profit in the third quarter despite high mortgage rates and limited home sales inventory. We have remained consistent with our strategy of growing market share in the retail purchase mortgage market while retaining the servicing of those loans. Guild had a net income of $7.2

Principal 408

Principal Loans Mortgages Industrial 408

Housing Wire

FEBRUARY 22, 2024

Gain-on-sale margins posted for Q4 2023 were 268 points, down from the previous quarter’s 276 points. billion in closed loan volume, down from $133.1 billion in closed loans through its direct-to-consumer channel and $8.5 The unpaid principal balance in its servicing book increased to $509 billion as of Dec. Rocket has 2.5

Mortgages 423

Mortgages Principal Lending Loans 423

Housing Wire

JANUARY 30, 2024

For at least the past five years, according to market data, the MSR sector has been increasingly dominated by nonbanks — with a good portion of the loan balance they service at historically low legacy rates. In 2019, total agency MSRs outstanding, based on agency loan balances serviced, stood at $6.219 trillion, Recursion data shows.

Marketing 380

Marketing Principal Banks Loans 380

Housing Wire

FEBRUARY 28, 2024

mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. billion in closed loan volume last year , down from $133.1 billion in home loans, compared to $29.7 Most of UWM’s volume was purchase loans, representing $93.8 billion in the previous year.

Loans 412

Loans Principal Mortgages Closing 412

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% 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%

VA loan 449

VA loan Agents Seller concession FHA loan 449

Housing Wire

JULY 18, 2023

Garza is joining The Agency after nine years at Rogers Healy Associates , where she closed $20 million in sale volume last year. He has a background in managing sales operations and brokering transactions between clients in the U.S. In 2022, he recorded a sales volume of $30 million. and Mexico.

Agents 369

Agents Loan Officer Principal Brokerage 369

Housing Wire

MARCH 20, 2024

I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. It just seems like the morale is better out there, for sure.” ‘I

Development 420

Development Industrial Mortgages Loans 420

Housing Wire

JULY 7, 2021

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM). The sale of Champion. in a deal valued at $500 million in cash and retained interest.

Sales 393

Sales Mortgages Branding Principal 393

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

Loans 329

Loans Marketing Due diligence Residential 329

Housing Wire

APRIL 24, 2024

Engagement team goals Schmidt explained that, considering the size of the reverse mortgage business relative to the forward side, finding a way to bring the broader community of loan originators into the fold is a priority. “I Technically, it encompasses brokers, principal agents and closed loan sellers,” he said. “We

Mortgages 371

Mortgages Loan Officer Principal Loans 371

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. for the week ending January 6, compared to the week earlier, when the 30-year rates for conforming loans ($647,200 or less) went from 6.58% to 6.42%. ” Gano’s experiences reflect what happened in the market overall.

Seller concession 523

Seller concession Mortgages Loan Officer Loans 523

Housing Wire

JANUARY 17, 2024

For real estate professionals, this option presents an opportunity to capture more sales. But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance.

Finance 447

Finance Seller concession Loan Officer Loans 447

Housing Wire

MARCH 25, 2024

To get a better understanding of all the dynamics in play, RMD sat down with Boccia and Eric Ellsworth, HighTechLending’s executive vice president of national sales. Ellsworth also credits Boccia’s energy as an intangible element that can help lift the entire sales team, he said. Brian has the ability to elevate that with a team.

Mortgages 422

Mortgages Principal Industrial Sales 422