Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

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Housing Wire

APRIL 1, 2024

Occupancy rates at private-pay senior care facilities are nearing pre-pandemic levels, according to new data from the National Investment Center for Seniors Housing & Care (NIC). “In But the demographic trends, in addition to favoring the reverse mortgage business, may also swing more older adults into these types of facilities.

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Housing Wire

JANUARY 26, 2024

There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. the parent company of Liberty Reverse Mortgage/PHH.

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Windemere Selling

FEBRUARY 13, 2019

Photo Credit: Rawpixel via Unsplash Few topics cause more division among economists than the age-old debate of whether you’re better off paying off your mortgage earlier, or investing that money instead. For many people, their mortgage is the largest expense they will ever incur in their lives.

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Afford Anything

AUGUST 4, 2020

Natasha has $3,300 per month to either invest or use toward an early mortgage payoff. An anonymous caller and military member, “Molly,” wants to know if she should move money from a USAA brokerage to Vanguard to pay less in fees. Should she only contribute to her TSP up to the match, and invest the rest in rentals?

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Housing Wire

NOVEMBER 21, 2022

Amid surging rates, declining volumes and a reduced appetite from investors in the secondary market, there are a growing number of casualties in the mortgage space, especially in the riskier non-QM segment. First Guaranty Mortgage Corp. Now, business owners can also apply for a mortgage loan as an individual.

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Housing Wire

MARCH 13, 2024

The presiding judge in the bankruptcy case involving Reverse Mortgage Investment Trust (RMIT) — the parent company of former leading reverse mortgage lender Reverse Mortgage Funding (RMF) — has approved a request to transfer the company’s bankruptcy status to Chapter 7 from its current Chapter 11 status.

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Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

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Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

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Housing Wire

SEPTEMBER 22, 2023

” The CFPB describes the latter practice by saying “debt collectors would no longer be able to use the credit reporting system as leverage to pressure consumers into paying questionable debts.” According to the vice president, the issue is important for the White House.

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Loans Design As-is Mortgages 450

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. had an impressive third quarter, with reported earnings of $177.5

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Housing Wire

JUNE 29, 2022

A homeowner’s best investment is the home they live in — far better than the returns we’ve seen from the stock market in 2022, and a great hedge against record-high inflation,” said David Friedman, co-founder and CEO of Knox Financial. . Knox’s expansion comes amid a shrinking mortgage origination market.

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Loans Equity Lending Mortgages 370

Housing Wire

NOVEMBER 8, 2023

Here’s a financial checklist that real estate agents and mortgage professionals should complete before the end of the year for more success and financial security in 2024. Some may require you to activate specific spending categories, so pay attention to bonus offers, and sign up to maximize your rewards.

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Commercial Mortgages Residential Brokerage 450

Housing Wire

APRIL 6, 2023

Mortgage executive Michael Strauss and his company, Smart Rate Mortgage , have appealed a decision from an Illinois regulator to suspend their licenses to operate in the state. HousingWire reported in January that Strauss was ready to start a new mortgage company after he registered Smart Rate in Florida.

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Residential Investor Loans Mortgages 381

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. It makes sense that the investors are asking lenders to ward off as many problems as possible [via QC efforts] before a loan is made. “The

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Housing Wire

JULY 6, 2022

Lender and servicer New Residential Investment Corp. laid off originations staffers last week, sources told HousingWire. The company is paying two weeks of severance per year of service, a former employee said. . billion in mortgages in the first quarter, down from $82.3 The company funded $26.9

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Housing Wire

MARCH 20, 2024

Friday’s bombshell – the National Association of Realtors ‘ proposed $418 million settlement of real estate commission lawsuits – set off a frenzy of trading for stocks in the residential real estate sector. It is a concern Zillow acknowledged in its fourth quarter earnings materials.

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Housing Wire

DECEMBER 16, 2022

For title insurance, a homebuyer only needs to pay a one-time fee at closing, which is typically issued in the amount of the real estate purchase price. For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. Diane Tomb, ALTA CEO Contributor.

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Title Title search Closing costs Closing 473

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.

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Mortgages Pre-approval Principal Loans 384

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. On a home equity loan, the lender disburses a lump sum upfront to the borrower, who then pays the loan back in fixed-rate installments. ” U.S.

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Housing Wire

MAY 17, 2023

Rocket Mortgage ‘s top executives believe the mortgage market is near the bottom, which means a recovery may be on the horizon soon. So yes, we’re toward the bottom in that,” Bob Walters, CEO at Rocket Mortgage and president and COO at Rocket Companies , said. You may get a mortgage once every 10 years.

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Housing Wire

JULY 24, 2023

the real estate investment trust that operates NewRez , Caliber and several other businesses , entered into a definitive agreement to acquire Sculptor Capital Management Inc. Rithm is paying $11.15 Sculptors’ investment and leadership teams will continue in their roles. “We Rithm Capital Corp.,

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Equity Loans Investor Closing 281

Housing Wire

JANUARY 17, 2024

The bankruptcy plan administrator for Reverse Mortgage Investment Trust (RMIT), the parent company of former industry lender Reverse Mortgage Funding (RMF), has filed a court petition to convert from Chapter 11 bankruptcy to Chapter 7 bankruptcy. TCB and Ginnie Mae dispute RMIT filed for Chapter 11 bankruptcy in November 2022.

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Bankruptcy Finance Loans Mortgages 432

Housing Wire

JUNE 28, 2022

Tech-fueled mortgage lender UpEquity just wants answers. . A spokesperson for FGMC, which stopped taking mortgage applications late last week ahead of the mass layoff, declined to answer HousingWire’s questions. “I have done this 30 years and not seen it done this poorly,” he said. Mispricing at FGMC? .

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Loans Due diligence Fixed-rate mortgage Lending 384

Housing Wire

OCTOBER 6, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage decreased four basis points last week to 6.66%, after jumping 40 basis points in the previous week, reflecting volatility due to the ongoing economic uncertainty. The government is trying to choke this off.”. All about the spread.

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Loans Mortgages Marketing Fixed-rate mortgage 370

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. Data show that returning that call within a few hours will get your race off to a good start. Most experts believe that it’s only a matter of time before mortgage rates come down.

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Mortgages Technology Loan Officer Loans 466

Housing Wire

NOVEMBER 16, 2023

HousingWire Editor in Chief Sarah Wheeler sat down with Jason Bressler , CTO at United Wholesale Mortgage (UWM) to talk about how the lender is developing a smart, innovative IT team by giving them a safety net to fail. JB: We are wholly invested in AI right now. And then we just go all in and try to build off of that.

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Technology Mortgages Development As-is 441

Housing Wire

OCTOBER 11, 2022

The mortgage industry needs to face the facts: today’s approach to lead generation is broken. For decades, mortgage lenders have relied on purchased lead lists to ferry in loan revenue. This makes consumers less likely to engage with a lender until they are absolutely certain that they are ready to begin the mortgage process.

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Staging Loans Mortgages Sales 384

Housing Wire

JANUARY 11, 2024

With NAR facing an ever growing pile of copycat commission suits , as well as mounting drama surrounding its leadership , most recently culminating in the resignation of Tracy Kasper , who served as NAR president for just over four months, not to mention having to pay potentially $5.3

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Industrial Agents As-is Mortgages 441

Housing Wire

APRIL 4, 2023

The investment community is still trying to unpack what Intercontinental Exchange (ICE) has in mind with the potential acquisition of Black Knight. 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.

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Purchase and sale agreement Loans Technology Mortgages 384

Housing Wire

MARCH 15, 2022

Knock, a New York City-based company that makes cash offers on behalf of prospective homebuyers, announced Tuesday that it is laying off 46% of its workforce. Knock did not say exactly how many employees will be laid off. It was in December that Knock floated a pay cut for its loan officers, before rolling back the plan.

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Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. This has resulted in the company closing branches and laying off loan officers on the retail side. ” In turn, EPM has closed branches and laid off LOs.

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Housing Wire

JULY 8, 2022

Just two days after it abruptly shut down its operations, non-QM lender Sprout Mortgage became the target of a class-action-seeking lawsuit. Sprout failed to pay their last paychecks. First Guaranty Mortgage Corp. The post Ex-workers sue Sprout Mortgage over unpaid salaries appeared first on HousingWire.

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Mortgages Bankruptcy Loans Investor 432

Housing Wire

MAY 20, 2022

Investment homes often take longer to sell because your audience is other investors. If your house is priced too high, it will turn buyers off, but if it’s too low, people may wonder what’s wrong with it. This often happens with investment properties. The mortgage company will report your debt paid as agreed.

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Short sale Investor Banks Agents 410

Housing Wire

APRIL 28, 2023

Mortgage tech company Blend incurred a whopping $769 million loss in 2022, leading some mortgage tech analysts to question the company’s runway and survivability. ” Read on to learn more about Blend’s priorities, its focus on improving mortgage companies’ business, and the firm’s plan to cut down costs.

Mortgages 384

Mortgages Banks As-is Equity 384

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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FHA loan Bankruptcy Marketing Loans 450

Housing Wire

APRIL 11, 2023

. “We have been through market downturns before…and we believe that the agents who continue to connect with consumers during these tough times and refine their own value proposition and what makes them a good agent, will pay off in spades as the climate improves.”

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