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. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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Loan Officer Loans Finance Mortgages 356

Housing Wire

MARCH 18, 2024

will move its servicing operations to the industry-leading MSP loan servicing system from ICE Mortgage Technology , ICE announced on Monday. With Lennar already leveraging ICE’s loan origination system, Encompass , the company will benefit from a seamless, digital mortgage ecosystem, the news release stated.

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Loans Mortgages Technology Finance 391

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In

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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.

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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.

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Title Industrial Land Closing costs 364

Housing Wire

SEPTEMBER 28, 2023

Jim Anderson Colorado-based lender Loan Simple brought on Jim Anderson as its new chief marketing officer. Anderson brings nearly seven years of experience in the mortgage industry with his latest stint as CMO at FoA. Prior to Finance of America, Anderson held CMO positions at Stearns Lending and Certainty Home Loans.

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Loans Marketing Lending Finance 362

Housing Wire

MARCH 25, 2021

Private mortgage insurance helped over 2 million low downpayment borrowers secure mortgage financing in 2020, a 53% increase from 2019, according to data from the government sponsored entities. The private mortgage insurance industry also supported $600 billion in mortgage originations. Presented by: Proctor Loan Protector.

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Industrial Mortgages FHA loan Finance 544

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.

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Housing Wire

MAY 2, 2022

Looking at the housing industry from a bird’s eye view in 2021, it’s easy to see the fast-paced housing market and the record-setting surge in volume. HousingWire’s Housing Finance Leaders. VP, Capital Markets & Finance. Altitude Home Loans. Embrace Home Loans. Anchor Loans. SVP, Finance.

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Housing Wire

SEPTEMBER 12, 2023

MBA cannot control macroeconomic forces, but what we can do is make sure the actions of policymakers help our industry instead of hindering it at a crucial time,” Broeksmit said at the organization’s Compliance and Risk Management Conference this week in Washington, D.C. John Rose (R-TN)’s effort to curb trigger leads, he said.

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Industrial Banks Finance Commercial 381

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.

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Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). Loan production expenses averaged around $7,389 per loan.

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Loans Banks Mortgages Sales 407

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. House of Representatives ‘ Financial Services Subcommittee on Housing and Insurance.

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Industrial Banks Residential Lending 315

Housing Wire

JUNE 30, 2023

The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2023-14 this week, which increases the threshold from $75 million to $120 million for multifamily loans to be considered large loans. Revising the threshold, which is almost a decade old, is an important step for us and for the industry,” he said. “We

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Housing Wire

MARCH 11, 2024

I have been in the mortgage industry for more than two decades and have been working with reverse mortgages for about 12 of those years. What happened There are so many reasons that homeowners may seek out a reverse mortgage: funding retirement , sending kids to college, financing large purchases during retirement and the list goes on.

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Industrial Mortgages Loans Lending 428

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. billion in 2023.

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Loans Title Commercial Closing 433

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. a competing model that also incorporates trended credit bureau data.

Loans 386

Loans Mortgages Lending Finance 386

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.

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Industrial Mortgages Loans Closing 412

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.

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Loans Closing costs Development Finance 414

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.

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Loan Officer Loans Mortgages Industrial 403

Housing Wire

SEPTEMBER 11, 2023

The Federal Housing Finance Agency (FHFA) on Monday announced that it will offer additional opportunities for public engagement as it considers the transition to updated credit score models and credit report requirements for loans acquired by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

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Industrial Finance Loans Mortgages 370

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.

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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. In theory, this means loan officers provide the same service and pricing on loans, reducing the risk of steering.

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Loan Officer Loans Lending Mortgages 443

Housing Wire

NOVEMBER 18, 2022

These trends have exacerbated industry overcapacity, leading to continual layoffs. This week, American Financing Corporation reduced employee headcount by almost two thirds and power buyer Homeward slashed 25% of its workforce as the companies faced headwinds. American Financing Corporation originated $4.13 PenFed originated $5.74

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Industrial Loan Officer Loans Lending 398

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.

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VA loan Loans Title Land 382

Housing Wire

JANUARY 25, 2024

Finance of America Companies (FOA) Chief Marketing Officer Chris Moschner found himself working for the lender in the wake of its acquisition of American Advisors Group (AAG), and Moschner previously told RMD about his journey to the position and the “intoxicating” opportunity he sees in the reverse mortgage space. So, that’s really it.”

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Industrial Mortgages Marketing Finance 351

Housing Wire

MARCH 16, 2023

The Federal Housing Finance Agency ’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. Though it’s undoubtedly a victory for the industry, it’s a partial one.

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Industrial Mortgages Finance Loans 373

Housing Wire

JANUARY 20, 2023

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. The changes include updates to pricing for second homes, high-balance loans and cash-out refinances that were first announced in 2022.

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Debt-to-income ratio Industrial Mortgages Loans 540

BAM Media

MAY 9, 2024

Real estate transactions can be complex, especially when traditional financing isn’t the best option. This is where creative financing strategies like seller financing and subject to come into play. Seller Financing: The seller acts as the bank, creating a new financing agreement with the buyer. What is Subject To?

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Housing Wire

MARCH 3, 2022

Finance of America Companies on Wednesday told investors that it managed to increase in originations in 2021, but a more competitive landscape reduced margins and, consequently, the company’s net income. Finance of America funded $35.6 Finance of America shares were trading at $3.39 On paper, the company posted a $1.17

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Finance Investor Mortgages Commercial 367

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. But not every manufactured home owner owns the land. billion in the second quarter from $53.8 billion in the first quarter.

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Loans Mortgages Land Finance 378

Housing Wire

SEPTEMBER 4, 2020

realtor.com named Bob Evans vice president of industry relations, where he will lead the company’s long-standing efforts to engage and support its industry partners. Prior to joining the company, Anderson has led marketing teams at Stearns Lending , Certainty Home Loans , Accenture , CNN and The Weather Channel.

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Finance Branding Title Lending 385

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 377

Loans Purchase and sale agreement Investor Finance 377

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 While Citywide Home Loans denies liability for the incident, it is still settling the lawsuit to end the claims. Ultimately, Citywide Home Loans will pay valid claims for economic losses due to the data breach up to $5,000 and lost time up to $200.

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Loans Technology Lending Banks 330

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

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Loans Banks Residential Finance 432

Housing Wire

JANUARY 5, 2022

The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio.

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Loans Finance Mortgages Title 516

Housing Wire

AUGUST 3, 2021

Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. The program provides more flexible guidelines compared to a traditional cash-out refinances, and has a loan-to-value (LTV) ratio as high as 97%, Rocket said.

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