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

Development 430

Development Industrial Mortgages Fixed-rate mortgage 430

Housing Wire

JUNE 27, 2024

The median monthly payment for purchase mortgage applicants decreased to $2,219 in May, down 1.6% from the prior month , according to data released Thursday by the Mortgage Bankers Association (MBA). The median monthly payment for purchase mortgage applicants decreased to $2,219 in May, down 1.6% in May to a reading of 173.9.

FHA loan 396

FHA loan Mortgages Loans As-is 396

Housing Wire

JULY 2, 2024

Mortgage rates rose slightly over the past week, with the U.S. According to HousingWire ‘s Mortgage Rates Center , the average 30-year rate for conforming loans stood at 7.11% on Tuesday, up slightly from 7.08% one week ago. economy continuing to show strength even as home sales remain tepid.

Mortgages 421

Mortgages Loans Investor Sales 421

Housing Wire

MAY 25, 2024

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. 2024 has had healthy inventory growth despite mortgage rates above 7%. When mortgage rates increase, demand falls, and the price-cut percentage grows.

Mortgages 515

Mortgages Banks Finance As-is 515

Housing Wire

JUNE 3, 2024

Mortgage subservicer Dovenmuehle Mortgage announced two promotions within its business development team this week. Founded in 1844, Dovenmuehle is one of America’s largest mortgage subservicers. Krogh joined Dovenmuehle in 2022 from Associated Bank in Chicago.

Mortgages 421

Mortgages Development Banks Technology 421

Housing Wire

DECEMBER 20, 2023

Mortgage demand fell for the first time since November as mortgage rates reached their lowest level since June 2023. 15 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). Total home loan applications decreased by 1.5% for the week ending Dec.

Mortgages 450

Mortgages VA loan FHA loan Loans 450

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 431

Mortgages Loan Officer Banks Equity 431

Housing Wire

JULY 16, 2024

Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. billion in first mortgages from April to June, up 66.3% from the $3.4 from the $5.9 from the $3.4

Banks 400

Banks Mortgages Equity Loans 400

Housing Wire

JULY 11, 2024

Mortgage rates are falling today as the CPI inflation data came in lighter than anticipated. How low can mortgage rates go? It’s critical to break the stubborn level of 4.20% on the 10-year yield if we want to see mortgage rates drop closer to 6.5%. The shelter side of the equation was a big help in today’s report.

Mortgages 450

Mortgages As-is Marketing 450

Housing Wire

JULY 2, 2024

The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) this week released updated loan-level data collected through the National Survey of Mortgage Originations (NSMO), according to a joint announcement. The newest release adds data through 2021 into the available dataset.

Mortgages 394

Mortgages Finance Lending Loans 394

Housing Wire

JULY 10, 2024

Highlands Residential Mortgage announced that Dan Carson recently joined the company as a senior vice president and area manager of its Park Cities branch in Dallas. Carson has spent more than a decade in the mortgage industry, having previously served in leadership positions for OriginPoint , Willow Bend Mortgage Co.

Residential 403

Residential Mortgages Banks Industrial 403

Housing Wire

JULY 5, 2024

Fewer prospective mortgage borrowers pulled the trigger in June, according to a new report from Mortgage Capital Trading. Mortgage rate locks decreased 7.84% in June compared to the previous month.

Mortgages 415

Mortgages 415

Housing Wire

JULY 2, 2024

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% Guild Mortgage also posted a gain of 19.1% Each type of reverse mortgage use case also declined in June.

Mortgages 407

Mortgages Equity Loans Loan Officer 407

Housing Wire

MAY 29, 2024

Calque , a company that partners with lenders to offer non-contingent mortgages to homebuyers, has announced new strategic partnerships with Fancher Mortgage Group and Jones Mortgage Group to extend its Trade-In Mortgage product. The product enables homeowners to prepare their original home for sale after moving.

Mortgages 431

Mortgages Equity Agents Sales 431

Housing Wire

JUNE 6, 2024

Mortgage credit availability saw a slight increase in May, according to an analysis of ICE Mortgage Technology data by the Mortgage Bankers Association (MBA). The Mortgage Credit Availability Index (MCAI) rose by 0.1% The index was initially benchmarked to 100 in 2012. percent, and the Conforming MCAI rose by 0.5

Mortgages 429

Mortgages Lending Technology Loans 429

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 424

Mortgages Lending Banks Principal 424

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. That’s a 0.50% difference in rates.

Mortgages 458

Mortgages Construction Sales Marketing 458

Housing Wire

JUNE 18, 2024

Mortgage rates continued to inch toward the 7% mark following last week’s meeting of Federal Reserve policymakers and new inflation data that showed further cooling of consumer prices. On Tuesday, HousingWire ‘s Mortgage Rates Center showed that the average 30-year rate for conforming loans was 7.08%.

Mortgages 458

Mortgages Loans Sales Marketing 458

Housing Wire

JUNE 20, 2024

Oklahoma -based Adfitech , a mortgage industry partner for quality control and risk management services, has changed its name to Mortgage Connect Risk Solutions. The move reflects the company’s 2022 acquisition by Pennsylvania -headquartered Mortgage Connect LP.

Due diligence 420

Due diligence Mortgages Pre-approval Lending 420

Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. This power is enhanced by higher interest rates.

Mortgages 406

Mortgages Equity Principal Loans 406

Housing Wire

JULY 25, 2024

On a recent episode of the Power House podcast , HousingWire CEO Clayton Collins chatted with Craig Montgomery, chief strategy officer at Lower and former chief production officer at CrossCountry Mortgage. Collins begins the conversation by mentioning Montgomery’s LinkedIn headline , “Shaping The Future of Mortgage Originator Success.”

Mortgages 331

Mortgages Banks As-is Loans 331

Housing Wire

JULY 25, 2024

As the numbers of seniors carrying mortgage debt in retirement has increased, so too has the potential financial burden of a regular monthly mortgage payment. “Retirement researchers warn that mortgage debt in retirement can be a trap,” the article explained.

Mortgages 388

Mortgages Equity Finance Loans 388

Housing Wire

JUNE 5, 2024

Mortgage demand keeps on falling. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. The refinance share of mortgage activity decreased to 31.1% the previous week.

VA loan 450

VA loan Mortgages Fixed-rate mortgage Loans 450

Housing Wire

JUNE 12, 2024

The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year.

Mortgages 420

Mortgages Title Finance Loans 420

Housing Wire

JULY 3, 2024

Mortgage applications declined by 2.6% on a seasonally adjusted basis during the week ending June 28, according to data released Wednesday by the Mortgage Bankers Association (MBA). The trade group cited upward movement in mortgage rates as the key reason why. of all activity.

VA loan 409

VA loan FHA loan Mortgages Loans 409

Housing Wire

JUNE 12, 2024

Mortgage applications shot up 15.6% from one week earlier , according to data from the Mortgage Bankers Association ’s (MBA) weekly application survey for the week ending June 7. The refinance share of mortgage activity increased to 35.2% The adjustable-rate mortgage (ARM) share of activity decreased to 6.3% from 13.2%

Mortgages 445

Mortgages Fixed-rate mortgage Loans Marketing 445

Housing Wire

JULY 22, 2024

Last April, Erik Morin made a return to the reverse mortgage valuation space by joining appraisal and valuation company Atlas VMS. Morin founded Landmark Network in 2007, a company that quickly became a key player on the valuation side of the reverse mortgage space before being acquired by Class Valuation in 2018.

Mortgages 408

Mortgages Industrial As-is Closing 408

Housing Wire

JUNE 1, 2024

Mortgage rates have been a bit more volatile recently due to hawkish Federal Reserve statements and inflation data, which has impacted some of the recent movement in the 10-year yield. So, what does this all mean for the housing market and the future of mortgage rates? Once mortgage rates began rising in 2024, some demand was removed.

Mortgages 512

Mortgages Marketing As-is Closing 512

Housing Wire

MAY 29, 2024

Mortgage applications slumped heading into Memorial Day weekend. on a seasonally adjusted basis during the week ending May 24, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The MBA said the 30-year fixed mortgage rate rose for the first time in four weeks, to 7.05% from 7.01%.

Mortgages 440

Mortgages Loans Sales Marketing 440

Housing Wire

JUNE 6, 2024

Mortgage lending in the U.S. million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. dropped by 6.7% in the first quarter of 2024 to 1.28

Lending 473

Lending Mortgages Residential Loans 473

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. That is where the Freddie Mac second mortgage comes in.

Loans 420

Loans Mortgages Banks Lending 420

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. We haven’t broken either yet.

Mortgages 491

Mortgages As-is Sales Closing 491

Housing Wire

MAY 20, 2024

Mortgage capital markets tech firm Polly announced on Monday its API integration with cloud banking provider nCino to enhance the digital mortgage process for lenders. In August 2022, Polly announced an extension of its API portfolio to better accommodate lenders amid a contracting mortgage environment.

Mortgages 417

Mortgages Loan Officer Technology Banks 417

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgages 441

Mortgages Brokerage Loan Officer Lending 441

Housing Wire

JULY 25, 2024

In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers. And the mortgage industry is also feeling the brunt of these challenges, Madick said.

Industrial 272

Industrial Mortgages Loans As-is 272

Housing Wire

MAY 4, 2024

My model for inventory growth with higher mortgage rates came crashing down last week. After two weeks of significant increases , inventory growth slowed dramatically and is far from my 11,000-17,000 growth model with mortgage rates over 7.25%. When mortgage rates increase, demand falls and the price-cut percentage grows.

Mortgages 484

Mortgages Sales As-is Marketing 484

Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

Mortgages 515

Mortgages Sales As-is Marketing 515