Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans. of transactions.

Loans 444

Loans Title Commercial Closing 444

Housing Wire

MARCH 18, 2022

Since H4P volume is only a small fraction of the total business done in the reverse mortgage industry based on 2021 data , Mangus sat down with RMD to discuss his approach in successfully cultivating H4P business. I closed 28 H4P transactions last year, over 1% of the national total. 1% of the national HECM for Purchase total.

Loans 488

Loans Closing Mortgages Equity 488

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 501

Loans Debt-to-income ratio Lending Banks 501

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. Steinway, who closed more than $1.5 Steinway also expects NAF’s “expansive” product mix, such as NAF Cash , will help him achieve more production volume in a highly competitive market.

Loan Officer 388

Loan Officer Loans Finance Mortgages 388

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. And more increases are yet to come.

As-is 450

As-is Industrial Mortgages Loans 450

Housing Wire

NOVEMBER 3, 2020

The mortgage industry is no stranger to disruption since the onset of the COVID-19 pandemic. As the premier provider of software, data and analytics solutions to the mortgage and capital markets industries, Black Knight further strengthened its position as a market leader with the acquisition of Optimal Blue in September 2020.

Industrial 386

Industrial Closing Loans Lending 386

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As And even those offerings generally do not convert into actual savings for clients.”

Loans 454

Loans Loan Officer Mortgages Closing costs 454

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 372

VA loan Loans Loan Officer FHA loan 372

Housing Wire

APRIL 21, 2023

It’s been delayed, but that’s not enough for the mortgage industry. 1, 2023, with the regulator saying the DTI charges wouldn’t affect any loans purchased by Fannie Mae or Freddie Mac in 2023. A borrower’s income and expenses can change several times throughout the loan application and underwriting process.

Industrial 417

Industrial Mortgages Loans Closing 417

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

Loan Officer 453

Loan Officer Loans Lending Mortgages 453

Housing Wire

DECEMBER 20, 2021

The automated loan document preparation and eMortgage services provider claims the new platform delivers a clear-cut, highly accurate decision telling users exactly how far they can take their closing digitally based on the unique attributes of the loan transaction and the county-level eRecording acceptance.

Closing 441

Closing Loans Investor Title 441

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. Soham Bhonsle, an analyst at BTIG, shares a similar outlook.

Title 396

Title Industrial Land Closing costs 396

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. Marquis, whose production volume dropped by nearly one-third to $351 million in 2022 from the previous year’s $951 million, is cautiously optimistic about the mortgage industry. How has business been in the Boston market?

Loans 362

Loans Pre-approval Closing Marketing 362

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 379

Lending Industrial Mortgages Loans 379

Housing Wire

JUNE 1, 2022

According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. This was up from $9,140 per loan in the third quarter as the market transitioned from a rate-term refinancing market to a purchase and cash-out refinancing market.

Closing 398

Closing Title Loans Technology 398

Housing Wire

MARCH 25, 2021

The private mortgage insurance industry also supported $600 billion in mortgage originations. The mortgage insurance industry also updated its guides and processes to align with the Federal Housing Finance Agency (FHFA) and the GSEs’ policies to implement nationwide forbearance programs. “The Presented by: Proctor Loan Protector.

Industrial 544

Industrial Mortgages FHA loan Finance 544

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

Loans 398

Loans Mortgages Development As-is 398

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 417

Loans Closing costs Development Finance 417

Housing Wire

OCTOBER 20, 2022

on Wednesday announced that it has released an Attorney Opinion Letter (AOL) product for VA direct and VA-backed home loans as a compliant alternative to title insurance. Voxtur previously announced this year that it had produced an AOL for Fannie Mae loans. The title insurance industry has spoken out forcefully against AOLs.

VA loan 393

VA loan Loans Title Land 393

Housing Wire

JANUARY 10, 2022

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HW: How can lenders help homebuyers avoid closing delays?

Closing 484

Closing Loans Inspection Technology 484

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 378

Loans Purchase and sale agreement Due diligence Industrial 378

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 382

Loans Debt-to-income ratio Banks Mortgages 382

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

Loan Officer 407

Loan Officer Loans Mortgages Industrial 407

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. The originators who are weathering the industry headwinds told HousingWire that a significant decline in mortgage rates is no longer expected.

Loan Officer 410

Loan Officer Loans Mortgages Agents 410

Housing Wire

JANUARY 12, 2022

Guaranteed Rate will continue to thrive and win market share by having a laser focus on leveraging our industry-leading purchase platform augmented by the best loan officers in the business,” Guaranteed Rate CEO Victor Ciardelli wrote in an email to brokers that HousingWire reviewed.

Closing 383

Closing Loan Officer Loans Lending 383

Housing Wire

APRIL 17, 2023

As the COVID-19 national emergency draws to a close, the forbearance rate has decreased month over month, according to a report from the Mortgage Bankers Association (MBA) on Monday. The total number of loans in forbearance in March decreased five basis points from February, dropping to 0.55% from 0.60% of servicers’ portfolio volume.

Closing 390

Closing Mortgages Loans Staging 390

Housing Wire

AUGUST 9, 2022

The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). ” In a conference call with analysts, loanDepot executives said the company plans to fund the remaining wholesale pipeline of approximately $1 billion in loans by the end of October.

Closing 475

Closing Principal Lending Loans 475

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. Maybe you’re on a mortgage loan shopping site.

Closing 418

Closing Mortgages Industrial Loan Officer 418

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 383

Loans Purchase and sale agreement Principal Due diligence 383

Housing Wire

JANUARY 12, 2022

Joel Kan, associate vice president of economic and industry forecasting at the MBA, said in a statement that the increase in mortgage rates is curtailing refinance activity. Mortgage rates increased significantly across all loan types last week as the Federal Reserve ’s signaling of tighter policy ahead pushed U.S.

Loans 437

Loans Fixed-rate mortgage Mortgages VA loan 437

Housing Wire

JUNE 22, 2023

Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. The deal with Village consists of 45,000 home loans securitized by Ginnie Mae.

Closing 335

Closing Lending Loans Commercial 335

Housing Wire

SEPTEMBER 28, 2023

Having completed the $12 billion acquisition of Black Knight , Intercontinental Exchange (ICE) is confident in evolving into a true life-of-loan platform: powering origination to final settlement, all in one unified digital ecosystem, executives said during its conference call with analysts. “By

Loans 398

Loans Technology Mortgages Development 398

Housing Wire

NOVEMBER 30, 2022

Cloudvirga’s platform solves for both by creating the best experience for borrowers and loan officers. The Cloudvirga team has been able to dramatically improve the experience of the borrower and the loan officer. It focuses on more than just task management and automation. Jason Smith, SVP Sales and Marketing.

Loan Officer 349

Loan Officer Loans Branding Technology 349

Housing Wire

MARCH 30, 2023

Donny Kirby, former vice president of national direct-to-consumer sales at Wyndham Capital Mortgage , spent more than 12 years at Charlotte, North Carolina-based company before leaving to start a mortgage broker shop, Cornerstone Home Loans. Kirby hopes to have a total of 15 LOs and close $50 million in production volume by year-end.

Loans 381

Loans Mortgages Loan Officer Lending 381

Housing Wire

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

Loans 382

Loans Purchase and sale agreement Investor Finance 382

Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.

Closing 340

Closing Mortgages Lending Technology 340

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.

Industrial 282

Industrial Mortgages Technology Loan Officer 282