Housing Wire

SEPTEMBER 25, 2023

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. According to the analysts, job market conditions remain the primary driver of consumer loan performance. in Q2 2023. in Q2 2023.

Loans 421

Loans Mortgages Bankruptcy Residential 421

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 458

FHA loan Loans Finance Mortgages 458

Housing Wire

JULY 31, 2023

The CFPB unveiled its proposal in May to implement a Congressional mandate establishing consumer protections for residential PACE loans under Regulation Z, which implements the Truth in Lending Act (TILA). “In As a result, residential PACE financing should be subject to the same regulations that apply to first-lien mortgages.

Loans 370

Loans Finance Residential Renovation 370

Housing Wire

NOVEMBER 2, 2021

Powerhouse lender/servicer New Residential Investment Corp. According to NRIC’s third quarter earnings released on Tuesday, the growth was spurred mainly by the REITs acquisition of mortgage lender Caliber Home Loans in August. The post New Residential already seeing the benefits of Caliber deal appeared first on HousingWire.

Residential 409

Residential Loans Mortgages Sales 409

Housing Wire

JUNE 21, 2022

New Residential Investment Corp. Last year, the company closed the acquisition of Caliber Home Loans and Genesis Capital LLC. New Residential will start trading on the NYSE as “RITM” on or about August 1, 2022. The post New Residential to internalize management, change name to Rithm Capital?

Residential 384

Residential Investor Loans Finance 384

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

Loan Officer 421

Loan Officer Loans Mortgages Agents 421

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million in unpaid principal balance; pool 2 is at $342.5

Loans 384

Loans Purchase and sale agreement Principal Due diligence 384

Housing Wire

MAY 1, 2023

These loans, which are often used to finance environmentally-minded renovations, like the addition of solar panels, have led to financial instability for some borrowers. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 384

Loans Lending Finance Renovation 384

Housing Wire

APRIL 5, 2023

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. retail residential mortgage applications. But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S.

Loans 410

Loans Mortgages Fixed-rate mortgage Banks 410

Housing Wire

APRIL 26, 2023

Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. retail residential mortgage applications.

Loans 397

Loans Mortgages Fixed-rate mortgage Loan Officer 397

Housing Wire

DECEMBER 23, 2020

LoanDepot and Brookfield Residential announced on Wednesday the creation of a joint venture, BRP Home Mortgage. BRP will deliver a streamlined mortgage experience for Brookfield Residential homebuyers, said Dan Peña, executive vice president of national joint ventures for loanDepot.

Residential 314

Residential Lending Loans Mortgages 314

Housing Wire

OCTOBER 10, 2022

The latest jobs cut was at Angel Oak Home Loans , which reduced its headcount by 57 employees, comprising 15% of the total, a spokesperson told HousingWire. Angel Oak Home Loans continues to serve homebuyers across the country and maintains staffing levels to meet the changing dynamics of the residential mortgage market.”.

Loans 397

Loans Loan Officer Mortgages Residential 397

Housing Wire

JULY 13, 2022

What does ESG’s growth and current ubiquity mean for residential MBS markets? If done responsibly, ESG and RMBS should coexist in a positive, self-reinforcing, meaningful way, and one that establishes the residential mortgage market as a best practices leader in the movement overall.

Residential 384

Residential Mortgages Investor Development 384

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 loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 384

Loans Debt-to-income ratio Banks Mortgages 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

JUNE 10, 2022

Mortgage lenders Doorway Home Loans and Priority Mortgage Thursday announced a merger, the latest of many such deals made during a challenging mortgage market. Both companies have more than 30 years of experience in residential direct lending, but want to expand market reach and create greater efficiency. billion mega-deal.

Loans 384

Loans Mortgages Technology Lending 384

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. In a memo sent Monday morning, Michael Nierenberg, CEO of New Residential Investment Corp., The post Caliber Home Loans CEO Sanjiv Das steps down appeared first on HousingWire.

Loans 370

Loans Residential Mortgages Finance 370

Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase. retail residential mortgage applications. The refinance index increased 9.4%

Loans 384

Loans Fixed-rate mortgage Mortgages Loan Officer 384

Housing Wire

NOVEMBER 10, 2022

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The firm will focus on the non-qualified residential mortgages in the wholesale and correspondent channels. Of the total volume, conventional loans accounted for 85.7% The lender originated $2.32

Loans 306

Loans Bankruptcy Loan Officer Lending 306

Housing Wire

JANUARY 18, 2023

retail and residential market shows how demand for home loans has quickly increased. The Market Composite Index, a measure of mortgage loan application volume, rose 27.9% The MBA measured the 30-year fixed rate for conforming loan balances ($726,200 or less), which decreased to 6.23% this week from 6.42% last week.

Loans 441

Loans Mortgages Residential Marketing 441

Housing Wire

NOVEMBER 3, 2021

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 And they are truly scratch-and-dent loans. Yet, there is a huge demand for these reperforming loans and the securities issued against them.

Loans 380

Loans Marketing Residential Banks 380

Eye 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. during the second quarter, even as the market cooled off strong.

Residential 105

Residential Construction Loans Marketing 105

Housing Wire

JULY 12, 2022

The loan quality of mortgage pools backing private-label securitization (PLS) deals has remained solid this year through the end of June, even as deal volume slowed appreciably between the first and second quarters. . Even with big drop in rates in the first week of July — the sharpest decline since 2008 , to 5.3% billion.

Loans 370

Loans Staging Mortgages Fixed-rate mortgage 370

Housing Wire

MAY 10, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $300 million unrated securitization of residential transition loans (RTLs), the company announced on Friday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 381

Closing Principal Investor Residential 381

Housing Wire

JUNE 29, 2022

Angel Oak Home Loans named Steven Valladares as vice president of correspondent sales, a move that comes as the firm increasingly works to grow its correspondent channel. The correspondent business line is focused on purchasing and servicing home loans in the secondary market.

Loans 370

Loans Sales Lending Mortgages 370

Eye on Housing

MAY 12, 2023

According to the Federal Reserve Board’s April 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the first quarter of 2023—banks reported that lending standards tightened for most residential real estate (RRE) and commercial real estate (CRE) loan categories.

Lending 118

Lending Commercial Residential Loans 118

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

APRIL 29, 2024

The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning. He said Stronghill is in the process of alerting clients whose loans were in the pipeline so they could transition to another lender.

Lending 458

Lending Commercial Residential Loans 458

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

NOVEMBER 25, 2020

Residential due diligence is an area of the mortgage ecosystem that’s overdue for disruption, according to two industry veterans who want to offer something completely different in the due diligence space through their newly launched company, Canopy. What was done [with the loan] goes on the blockchain and it’s based on verifiable data.

Due diligence 485

Due diligence Residential Industrial Investor 485

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

OCTOBER 19, 2021

The historic mortgage boom spurred by the pandemic hasn’t just been a blessing for lenders – the slew of mortgage loan-trading platforms have also reaped the rewards of historic origination volume. On these platforms, originators can lock down the best loan price from various buyers, typically asset managers and institutional investors.

Loans 383

Loans Due diligence Mortgages Investor 383

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 410

Loans Marketing Due diligence Residential 410

Housing Wire

JULY 13, 2022

The two jumbo-loan deals that did make it out of the gate last month were issued by Rocket Mortgage and J.P. Through June of this year, then, Rocket has sponsored a total of four private-label securitizations secured by prime jumbo loans valued at slightly north of $2.2 billion — two involving high loan-to-value prime jumbo-loan pools.

Loans 397

Loans Fixed-rate mortgage Mortgages Residential 397

Housing Wire

DECEMBER 16, 2021

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

Due diligence 397

Due diligence Loans Investor Mortgages 397

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 370

Loans Equity Lending Mortgages 370

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

Lending 479

Lending Banks Mortgages Loan Officer 479