Housing Wire

MARCH 25, 2024

California-based multichannel mortgage lender HighTechLending appointed reverse mortgage industry veteran Brian Boccia to serve as a senior account executive in its third-party origination (TPO) channel. He joins the company after prior experience at companies like Mutual of Omaha Mortgage and Reverse Mortgage Funding (RMF).

Mortgages 432

Mortgages Principal Industrial Sales 432

Housing Wire

MAY 9, 2024

the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs). billion in mortgages in the first quarter, higher than the $24.3 UWM Holdings Corp. , ” UWM originated $27.6

Sales 246

Sales Principal Loans Mortgages 246

Housing Wire

APRIL 7, 2022

Fannie Mae is marketing its 25th sale of reperforming loans since its first offering six years ago and its second sale so far in 2022. The offering is comprised of 7,600 mortgages with total unpaid principal balance of $1.49 million in unpaid principal balance; pool 2 is at $514.5 million; and pool 3, $367.4

Loans 370

Loans Sales Due diligence Principal 370

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. Both firms will maintain their existing brands and teams.

Investor 381

Investor Sales Mortgages Loan Officer 381

Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. But Varun Krishna, CEO and director of Rocket Companies, noted its growth in market share during a difficult year for mortgage lenders. “We Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2

Mortgages 432

Mortgages Principal Lending Loans 432

Housing Wire

NOVEMBER 7, 2023

Newrez has launched a new joint venture mortgage company, Carnegie Mortgage Partners , in collaboration with a top Keller Williams franchise network in Bergen County, New Jersey, the lender announced on Monday. The joint venture mortgage company is led by Margaret Bernabei, a former branch manager at a CrossCountry Mortgage outpost.

Mortgages 410

Mortgages Principal Brokerage Lending 410

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 440

Sales Banks Principal Loans 440

Housing Wire

APRIL 30, 2024

Top executives at Rithm said they continue to evaluate taking the mortgage business public. In its mortgage division, Rithm recorded a total pretax income of $408.1 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.

Mortgages 441

Mortgages Equity Principal Finance 441

Housing Wire

MARCH 23, 2023

New home sales continued to rise in February, jumping 1.1% On a year-over-year basis, however, new home sales are still down 19.0%. New home sales increased in February for the third straight month, in a sign that the market may be stabilizing,” Kelly Mangold, the principal of RCLCO Real Estate Consulting , said in a statement. “New

Sales 410

Sales Principal MLS Mortgages 410

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 420

Sales Loan Officer Principal Loans 420

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 Terms of the sale were not disclosed. million; pool 2, 2,217 loans valued at $338.9

Sales 397

Sales Principal Loans Banks 397

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 421

Mortgages VA loan Principal Loans 421

Housing Wire

FEBRUARY 8, 2022

Fannie Mae this week unveiled its 24th sale of reperforming loans since its first offering in 2016. The current deal is composed of more than 8,000 mortgages with an aggregate unpaid principal balance of $1.3 million in unpaid principal balance; pool 2 is at $622.6 reperforming loan sale appeared first on HousingWire.

Loans 370

Loans Sales Principal Mortgages 370

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. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme.

Mortgages 508

Mortgages Principal Brokerage Finance 508

Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s s reverse division to transition back into a role as a reverse mortgage broker. People are interested in getting reverse mortgages and talking about them,” he said. I really do like that,” Cabe said. “[On

Development 432

Development Industrial Mortgages Loans 432

Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Confused by this? Housing inventory.

Sales 528

Sales Mortgages Principal Short sale 528

Housing Wire

JUNE 14, 2022

Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 million, with an average loan size of $153,097 and an average mortgage note rate of 4.62%. Terms of the sale were not disclosed. BofA Securities Inc.

Loans 370

Loans Purchase and sale agreement Sales Principal 370

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 384

Banks Mortgages Principal Short sale 384

Housing Wire

APRIL 24, 2024

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.

Mortgages 420

Mortgages Loan Officer Principal Loans 420

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

Seller concession 527

Seller concession Mortgages Loan Officer Loans 527

Housing Wire

OCTOBER 14, 2021

Sales of reperforming loans nosedived in 2020 as the pandemic took root in America, but sales volume appears to have recovered with vigor, based on an analysis of RPL offerings for government-sponsored enterprise Fannie Mae. billion — or a bit more than half of the RPL sales volume recorded this year and $5.7 Already a member?

Loans 421

Loans Sales Principal Mortgages 421

Housing Wire

JUNE 28, 2022

Fannie Mae has announced the winning bidder for the final mortgage pool that was part of its inaugural nonperforming loan sale of 2022 — and it’s nineteenth sale since the i na ugural offering in 2015. The loan pool, dubbed the Community Impact Pool (CIP), includes 120 loans with an unpaid principal balance of $36.3

Loans 384

Loans Purchase and sale agreement Sales Principal 384

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 billion is now being marketed by the Prestwick Mortgage Group on behalf of an undisclosed independent mortgage banker, according to a bid document obtained by HousingWire. Become a member today. Already a member?

Sales 384

Sales Principal Loans Mortgages 384

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. Gulatta, based in Charlotte, will work to build the lender’s presence with mortgage brokers on non-agency products. Before joining Deephaven, Heitzmann was principal at LGH Consulting.

Sales 384

Sales Lending Principal Banks 384

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well. For 2023, slightly greater than 1.1

Mortgages 441

Mortgages Banks Loans Industrial 441

Housing Wire

FEBRUARY 21, 2024

The new loss-mitigation alternative resulted from the FHA’s acknowledgment that its toolkit wasn’t enough to support struggling borrowers as mortgage rates surged. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae. million COVID-19 loss-mitigation actions.

Principal 432

Principal Loans Mortgages Renovation 432

Housing Wire

AUGUST 10, 2022

When the sky is falling in the mortgage industry, generally there is something else that is rising. the parent of United Wholesale Mortgage (UWM), what is rising in their favor is the value of mortgage servicing rights (MSRs). UWM, the nation’s largest wholesale mortgage lender, recorded net income of $215.4

Sales 397

Sales Purchase and sale agreement Loans Mortgages 397

Housing Wire

MAY 20, 2024

California -based multichannel lender and servicer PennyMac Financial Services announced on Monday a proposed private offering of a $650 million aggregate principal amount of senior notes that the company says it will pay back with interest by 2030. They will only be sold to certain large investors, according to the announcement.

Principal 447

Principal Investor Loans Mortgages 447

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. NYCB became a large residential mortgage servicer after the acquisition of Flagstar.

Equity 416

Equity Mortgages Banks Commercial 416

Housing Wire

JUNE 14, 2022

Mortgage delinquency rates in March fell below the 3% mark , reaching another historic low as a strong labor market and income growth drove down the number of property owners who are late on their mortgage payments. . of all mortgages in the U.S. All 50 states posted annual declines in their overall mortgage delinquency rate.

Mortgages 370

Mortgages Staging Principal Equity 370

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies.

Mortgages 421

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 421

Housing Wire

AUGUST 4, 2022

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. million premium.

Mortgages 384

Mortgages Pre-approval Principal Loans 384

Housing Wire

JUNE 23, 2022

Homebuyer affordability decreased slightly in May, as new mortgages took up a larger share of a the average person’s income while rates trended higher. High inflation and rising mortgage rates won’t lessen the burden on new home buyers in the coming months. The agency expects some 5.76 million existing homes.

Mortgages 384

Mortgages FHA loan Principal Loans 384

Housing Wire

MAY 4, 2023

Investors haven’t exactly treated publicly traded mortgage companies very kindly over the past 12 months. “With that in mind, we are evaluating alternatives for our mortgage company and will likely file an S1 in the coming month. .” billion at the end of the first quarter. billion at the end of the first quarter.

Mortgages 384

Mortgages Principal Lending Investor 384

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. million security backed by non-QM mortgages.

Mortgages 384

Mortgages Principal Banks Equity 384

Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said. “The As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” What does it mean for buyers, sellers?

Industrial 397

Industrial Mortgages Purchase and sale agreement Banks 397