Housing Wire

OCTOBER 22, 2024

The third-quarter financials for Pennymac Financial Services illustrate the double-edged sword of declining interest rates for mortgage companies. With lower rates and more opportunities to refinance mortgages, Pennymac generated a pretax income of $108 million in Q3 2024 in its production segment, up from $41.3 million in Q3 2023.

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Principal Loans Mortgages Lending 435

Housing Wire

APRIL 1, 2025

The current reverse mortgage industry market leader, Mutual of Omaha Mortgage , announced on Tuesday that it has launched a new proprietary reverse mortgage product, with initial availability in California and Florida. It will also exclude broker-network borrowers from the companys outbound marketing campaigns.

Mortgages 307

Mortgages Principal Equity Loans 307

Housing Wire

JANUARY 21, 2025

After years of high interest rates, and price spikes, mortgage lenders are optimistic heading into 2025. Fannie Mae predicts a 28% increase in mortgage originations to $2.1 The Mortgage Bankers Association (MBA) also predicts that total origination volume will increase by 28.5%

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Mortgages Investor Loans Principal 370

Housing Wire

MARCH 3, 2025

HousingWire is proud to announce the 2025 Finance Leaders, recognizing 40 of the most impactful finance executives in the mortgage and real estate industries. The Finance Leaders award honors executives who are not only advancing financial performance but strengthening liquidity, expanding margins, and enhancing access to capital markets.

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Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7 Rocket originated $42.3

Mortgages 459

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Housing Wire

JANUARY 23, 2025

November’s report tracked SFR price growth in 20 major markets nationwide. Wage growth outpaced single-family rent growth for much of the past two years which kept rent growth in positive territory,”said CoreLogic senior principal economist Molly Boesel. ” Detroit ranked No. 1 for SFR price growth, posting 6.1%

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Principal Marketing Mortgages 397

Housing Wire

APRIL 22, 2025

. “PennyMac Financial delivered solid first quarter financial results, demonstrating our ability to consistently generate strong returns in a volatile market, Pennymac chairman and CEO David Spector said in a statement. billion in unpaid principal balance, down 19% from the prior quarter and up 33% from Q1 2024.

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Housing Wire

APRIL 21, 2025

The principal investigator of the study is Mariana Amorim, an associate professor in the department of sociology at Washington State University. The companies offering them have often aimed to contrast these offerings with reverse mortgages, or other more traditional home equity tapping products like a home equity line of credit ( HELOC ).

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Equity Principal Loans Mortgages 326

Housing Wire

OCTOBER 30, 2024

New York-based asset manager Rithm Capital , the owner of multichannel lender Newrez , reported a 58% increase in refinances to $3 billion in the third quarter of 2024 after mortgage rates dropped due to the Federal Reserve ’s 50 basis-point rate cut. billion in mortgages in Q3 2024, higher than the figures of $14.6 billion in Q3 2023.

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Equity Principal Mortgages Lending 435

Housing Wire

SEPTEMBER 10, 2024

In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages ( HECM s) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. According to conventional wisdom, homeowners should hold off on getting a reverse mortgage until they need it or until interest rates decrease.

Mortgages 459

Mortgages Principal Equity Loans 459

Housing Wire

JANUARY 31, 2025

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 Perotti added that the company’s total lock volumes of $36 billion were down 7% from the prior quarter due to higher mortgage rates. For 2024 as a whole, the California -based lender earned a profit of $311.4

Principal 366

Principal Lending Equity Mortgages 366

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. Why are there two HECM interest rates used with HECM loans?

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Principal Mortgages Loans Equity 459

Housing Wire

NOVEMBER 5, 2024

Chief financial officer David Hayes said in a statement that in the third quarter, there was a “modest improvement in the mortgage market, coupled with the company’s positive operating leverage,” which fueled the return to profitability. “As in after-market hours. year over year. Origination volume was $6.7 billion on Sept.

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Purchase and sale agreement Equity Loan Officer Principal 397

Housing Wire

NOVEMBER 6, 2024

the parent company of Guild Mortgage , sustained a $66.9 Schmidt added that a “clear differentiator” the company has is “the realization of the growth platform” stemming from its acquisitions, which included Academy Mortgage at the beginning of the year. billion in unpaid principal balance (UPB), but it recorded a net loss of $74.6

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Principal Mortgages Loans As-is 367

Housing Wire

AUGUST 16, 2024

What happens if they sell their current home but can’t cover the costs of a new place, especially in a market characterized by record-high home prices? Use a reverse mortgage with her purchase loan to boost her purchasing power without requiring principal and interest payments during her lifetime.

Mortgages 482

Mortgages Principal Equity Loans 482

Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 HECM market share of HECM-backed Securities (HMBS) on the issuer league tables compiled by New View Advisors.

Mortgages 448

Mortgages Marketing Equity Finance 448

Housing Wire

MARCH 7, 2025

Its just introducing another unregulated security into the housing market as though 2008, 2009 didnt happen, the staffer told the outlet. The report also states that the idea is being championed by Irving Dennis, HUDs new chief financial officer and principal deputy. I dont see any way this will help anything.

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Technology Principal Industrial As-is 329

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. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

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Seller concession Mortgages Loan Officer Loans 529

Housing Wire

APRIL 1, 2025

These standout professionals all 40 years old or younger are driving innovation, transforming their organizations, and shaping the future of real estate, mortgage, and fintech. Each year, HousingWires Rising Stars award recognizes the next generation of leaders making a significant impact on the industry.

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Lending Technology Title Development 349

Housing Wire

JANUARY 22, 2024

According to Zillow ’s annual predictions, Indianapolis will be the fourth-hottest real estate market of 2024, thanks to its solid economy, housing inventory, affordability and pent-up demand. The real estate market As of Jan. And the median days on the market was 56 in December , compared to the national median of 43.

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Marketing Principal Land Mortgages 468

Housing Wire

OCTOBER 3, 2024

SitusAMC has struck a deal to sell a majority stake of two subsidiaries focused on mortgage risk management to investment firm VineLight Venture. It comes as Securent seeks capital to invest in rising-demand products, especially in the residential mortgage-backed securities (RMBS) space. The terms of the agreement were not disclosed.

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Mortgages Principal Residential Brokerage 448

Housing Wire

MAY 30, 2024

In March 2024, the national delinquency rate for residential mortgages stood at 2.8% The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due) accounted for 1.5% in March 2023.

Mortgages 476

Mortgages Staging Principal Loans 476

Housing Wire

APRIL 21, 2025

Amid inflation worries, political turmoil and ripple effects from new federal spending cuts , Americans are growing increasingly pessimistic about the economy, housing market and their personal finances, according to a new consumer sentiment survey. director of research and a managing principal at John Burns. Only 34% of U.S.

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Principal Renovation Branding Finance 261

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgages 468

Mortgages Principal Equity Loans 468

Housing Wire

JANUARY 10, 2025

Incenter Lender Services , a group of companies that help nonbank and depository mortgage lenders nationwide, announced this week the hiring of two new vice presidents. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.

Principal 370

Principal Lending Development Mortgages 370

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.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021.

Mortgages 435

Mortgages Marketing Banks Loans 435

Housing Wire

JULY 11, 2024

Rocktop — a software-as-a-service (SaaS) company that works to improve yields for institutional investors , asset managers and other participants in the fixed-income and mortgage markets — has now placed more than $60 billion in unpaid principal balance (UPB) on its data management platform. billion in UPB. billion in UPB.

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Due diligence Mortgages Investor Technology 435

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% CoreLogic principal economist Molly Boesel attributes much of the stability in the low delinquency rate to low unemployment over the period. in September 2022, 2.8%

Mortgages 504

Mortgages Principal Staging Loans 504

Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0

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Development Industrial Mortgages Fixed-rate mortgage 459

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

Mortgages 501

Mortgages Staging Principal Loans 501

Housing Wire

JANUARY 25, 2025

In this informative conversation, the duo touch on Newrez’s growth and acquisition strategies, the use of technology and artificial intelligence for client retention, and finding balance between mortgage servicing and origination activities. Sanchez: Newrez has a giant servicing business with $755 billion in unpaid principal balance.

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Principal Technology Mortgages Industrial 369

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% No pressure, really — the Ginnie Mae market is very liquid,” he said.

Mortgages 467

Mortgages Seller concession Principal Loans 467

Housing Wire

JULY 12, 2024

Wells Fargo , JPMorgan Chase and Citi opened the second-quarter earnings season in the mortgage space on Friday by showing strong increases in sales volumes from April to June compared to the previous quarter. Among the three depositories, JPMorgan was the leader in mortgage production with $10.7 Its retail volume came in at $6.9

Mortgages 458

Mortgages Lending Banks Principal 458

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., As far as the interest in reverse mortgages, it has been steady,” he said.

Mortgages 459

Mortgages Principal Loans Loan Officer 459

Housing Wire

SEPTEMBER 3, 2024

With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.

Mortgages 468

Mortgages Equity Finance Lending 468

Housing Wire

AUGUST 1, 2024

Despite some recent relief from mortgage rates , top executives at the parent of Rocket Mortgage continue to expect a challenging landscape for the industry in the coming months, mainly due to regulatory changes, low affordability levels and consolidation. They will also keep chasing purchase market share. “We’re

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Marketing Equity Loans Principal 447