Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

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Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

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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

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Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement?

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Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period. The annual investment volume in the U.S. billion have been completed.

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HomeLight

JANUARY 17, 2024

Buying a house is a major milestone, but what happens when you have second thoughts, or you can’t fulfill the agreement you signed? Backing out of a home purchase isn’t a decision made lightly, yet it’s a scenario that buyers might face. But what’s the real meaning of backing out of a home purchase?

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HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. What types of loans are assumable?

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Housing Wire

APRIL 9, 2021

In Lender Letters issued on Thursday, Fannie Mae and Freddie Mac confirmed that loans purchased by the GSEs with application dates on and after July 1, 2021, must meet the standards of the Consumer Financial Protection Bureau’s Revised Qualified Mortgage Rule.

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HomeLight

OCTOBER 20, 2021

Whether you sell your home FSBO (for sale by owner) or with the help of a top real estate agent , you will enter into a purchase agreement that will come from the buyer or buyer’s agent. Missteps or misunderstandings in this important contract can delay the sale of your home or even box you into a bad deal.

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HomeLight

DECEMBER 12, 2023

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. A mortgage contingency is a clause in a real estate contract that makes the purchase contingent , or dependent, on the buyer securing a mortgage loan. Securing the loan: During the specified period, you must obtain a mortgage that meets these terms.

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Housing Wire

FEBRUARY 13, 2024

Our for-sale growth pillars mark the pathway to meeting our goals to grow customer transaction share from 3% to 6% by the end of 2025 and grow revenue alongside that transaction share growth,” Jeremy Wacksman, Zillow’s chief operating officer, said. The law went into effect at the start of 2024.

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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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%

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Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. Lend Smart, a company with 107 active loan originators, is licensed in 29 states and originated $378.8 billion.

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Housing Wire

APRIL 27, 2022

“Gain on sale revenue was under significant pressure throughout the quarter as the velocity of the increase in mortgage rates rose at the fastest rate this century,” Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, said in a statement. Meanwhile, refinances fell significantly, from $9.8 billion in Q1 2022.

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Housing Wire

OCTOBER 6, 2021

The loss was primarily driven by a “decrease in overall funding activities in the mortgage market” that resulted in a “significant” decline quarter-over-quarter of the company’s gain on sale margin. The filing revealed that refi loans made up 85% of funded loan volume for Better.com in last six months, while purchase volume was close to 15%.

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Toronto Realty Blog

NOVEMBER 13, 2023

Peter tells John, “I wanted to let you know that I am going to list the condo for sale.” The property is listed for sale and ends up selling after about three weeks. Bob the Buyer is a young man who is purchasing his first home, and is excited to move into the condo in the fall. And what does Bob the Buyer do?

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Housing Wire

NOVEMBER 2, 2023

Just a couple years ago there was incredible momentum building around alternative ways to purchase, sell and extract value from residential properties. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete. homeowners. According to the latest Q2 report from the St.

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Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

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Housing Wire

FEBRUARY 19, 2024

That’s because the unpaid loan balance continues to grow for delinquent mortgages due to unpaid interest, property taxes and insurance. While the average value of the 80,000 properties analyzed increased 3% between the first and last scheduled foreclosure auction date, the average unpaid loan balance increased by 6 percent.

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Housing Wire

APRIL 25, 2022

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . It has about 350 loan officers and roughly 100 retail branches. . It provides purchases, refinances, and home equity products.

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Housing Wire

AUGUST 1, 2023

The lender made focused efforts to target the purchase market in 2021 and set up dedicated teams to cultivate relationships with real estate agents. What is clear here is that their long-held view that when rates went up, they could simply change their focus to purchase mortgages is not holding up.

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Housing Wire

JULY 6, 2022

PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. billion in MSR sales and purchases, according to KBRA. Subsidiaries of Pennymac Financial Services Inc.

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Housing Wire

AUGUST 28, 2023

on Thursday — funded a loan volume of $1.7 billion across 4,768 loans in the first six months of 2023. In Q2, Better’s origination volume was $900 million across 2,421 loans, compared to production of $800 million across 2,347 loans funded in Q1. Better’s funded loan volume of $1.7

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HomeLight

APRIL 30, 2024

When you’re considering buying a home, one option might be to assume the seller’s mortgage instead of obtaining a new loan. We’ll also break down the concept of mortgage assumption, clarify what loan types might qualify, and provide tips about this growing homeownership trend. Are all mortgage loans assumable?

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Housing Wire

APRIL 4, 2023

Mortgage analysts expect to see consolidation if the deal were to go through, but also forecast that strong players in the servicing and loan origination system side will emerge. Prior to the FTC’s suit, Black Knight announced the sale of its Empower business to a subsidiary of Canada’s Constellation Software Inc.

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Realty Biz

AUGUST 22, 2022

In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer. I’m thinking this could be my way to get out of the purchase agreement so that I can wait a few more months until prices come down further. Now I have buyer’s regret.

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Housing Wire

MAY 26, 2021

will acquire 178,000 loans sold to or securitized by Fannie Mae and Freddie Mac , boosting its overall total servicing portfolio by about 16%. Ocwen’s acquisition of the MSR portfolio is expected to close later in the second quarter, with the underlying loans transferring in September. Ocwen’s subsidiary PHH Mortgage Corp.

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Housing Wire

NOVEMBER 5, 2021

The purchase comes amid questions of whether iBuying is a viable business model following Zillow’s announcement Tuesday that the company is winding down its iBuying arm. Opendoor began Opendoor Home Loans in 2019, and the mortgage loan originator operates today in 26 markets and eight states. Opendoor has $25.4 Opendoor has $25.4

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Housing Wire

MARCH 31, 2021

Presented by: Proctor Loan Protector. The flexible standards allowed for more appraisal options on certain qualifying primary residence loans, including desktop appraisals and exterior-only appraisals. How this will affect the reporting of delinquent loans, is yet to be delineated.

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Housing Wire

DECEMBER 1, 2021

Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused. Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips.

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Housing Wire

SEPTEMBER 6, 2023

Networks that have earliest visibility at the consumer points of intention will capture the data to win loans, provide servicing, create content and build a loyal audience. Portals will authenticate identity, validate content, facilitate standard agreements, and ensure timely payments between buyers and sellers of homes and service providers.

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Realtor.com

JANUARY 7, 2021

First, let’s talk about why a home buyer might not be approved for a loan. Still, pre-approval is not a guarantee that a buyer will get a loan. The most likely reasons for a loan being shot down include the following: The buyer’s credit score isn’t as high as the lender requires.

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Housing Wire

OCTOBER 4, 2023

Sarah Pierce , former executive vice president for customer experience, sales and operations, filed a lawsuit on June 8, 2022, in the New York federal court, including Better Holdco, its founder Vishal Garg and general counsel Nicholas Calamari as defendants. per share.

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Housing Wire

MARCH 24, 2021

Technology has given consumers the power of choice and expedited the entire real estate purchasing process. Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors.

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Housing Wire

OCTOBER 25, 2023

The earnings included, among other things, a $67 million gain from the collapse of a securitization trust and a $96 million preliminary bargain purchase gain related to the Home Point Capital acquisition. The firm also had a $39 million loss associated with equity investments primarily related to the sale of its title business in 2021.

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Housing Wire

FEBRUARY 3, 2022

Incenter Mortgage Advisors was flooded with a surge of mortgage-servicing rights business in January — with bulk MSR sales approaching in one month what the firm normally tallies in an entire year. In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. million to $23.7

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