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. As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” What does it mean for buyers, sellers?

Industrial 395

Industrial Mortgages Purchase and sale agreement Banks 395

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement.

Industrial 407

Industrial Mortgages Fixed-rate mortgage Principal 407

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% compared to the prior month.

Mortgages 394

Mortgages Finance Equity Principal 394

Housing Wire

NOVEMBER 2, 2022

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. We have lenders coming to us asking about the potential impact of a mortgage loan closing should the NFIP lapse. The NFIP’s authority to operate must be periodically renewed by Congress.

Industrial 395

Industrial Seller disclosure Mortgages Principal 395

Housing Wire

OCTOBER 31, 2022

This is projected to be a record year for consolidation among mortgage lenders, largely due to the dramatic shift from a refinance boom to a purchase mortgage market and the total origination volume, which has shrunk to about half the size from 2021. Most recently, Guild Mortgage expressed interest in acquisitions.

Industrial 383

Industrial Mortgages Principal Loans 383

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 427

Mortgages Principal Industrial Sales 427

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 427

Mortgages Principal Lending Loans 427

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 436

Mortgages Seller concession Principal Loans 436

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 417

Mortgages VA loan Principal Loans 417

Housing Wire

FEBRUARY 24, 2023

Housing sector leaders acknowledge that some borrowers are still struggling to pay their mortgages after being hit by layoffs and other issues caused by the Covid-19 pandemic. That’s why industry leaders are working on new solutions to the loss mitigation toolkit, including successors for the Covid-19 partial claim options.

Industrial 383

Industrial Principal Loans Mortgages 383

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S.,

Mortgages 427

Mortgages Principal Loans Loan Officer 427

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. Beyond that will depend on what happens to rates.” This represents $15.6

Mortgages 446

Mortgages Bankruptcy Principal Finance 446

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 416

Mortgages Loan Officer Principal Loans 416

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). to 358 loans).

Mortgages 427

Mortgages Loans Equity Principal 427

Housing Wire

JUNE 15, 2023

​​The Federal Reserve ‘s (Fed) interest rate hike pause will give the housing industry a cautious sigh of relief, but observers are already nervous that the rate-induced pain train won’t come to a complete stop for a while longer and volatility will remain. The industry wants a complete stop.

As-is 383

As-is Industrial Fixed-rate mortgage Mortgages 383

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 525

Seller concession Mortgages Loan Officer Loans 525

Housing Wire

JULY 1, 2022

Most industry observers predicted that the national foreclosure rate would rise once foreclosure moratoriums ended on July 31, 2021. were “combination modifications,” where interest rate reductions and term extensions are applied to a loan to help bring down a borrowers mortgage payment. year-over-year to 2,410, the OCC found.

Banks 383

Banks Mortgages Principal Short sale 383

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 383

Industrial Banks Loans Design 383

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 437

Mortgages Banks Loans Industrial 437

Housing Wire

FEBRUARY 27, 2024

parent company of PHH Mortgage Corp. and its subsidiary Liberty Reverse Mortgage , posted a $64 million loss in 2023 but sees a generally positive trajectory for its reverse mortgage origination and servicing businesses. Ocwen Financial Corp.,

Principal 417

Principal Mortgages Industrial As-is 417

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.

Mortgages 406

Mortgages Banks Equity Land 406

Housing Wire

JUNE 28, 2022

Mortgage fintechs Sales Boomerang and Mortgage Coach have merged, roughly six months after a Philadelphia-based private equity firm bought a controlling stake in each company. A unified name has not yet been determined and Sales Boomerang and Mortgage Coach will continue to operate as distinct brands, for now, the companies said.

Sales 395

Sales Mortgages Loan Officer Principal 395

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 383

Sales Mortgages Loans Loan Officer 383

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 383

Mortgages Pre-approval Principal Loans 383

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. New Wave filed the lawsuit Monday in the U.S.

Due diligence 383

Due diligence Mortgages Principal Lending 383

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. New Wave filed the lawsuit Monday in the U.S.

Due diligence 370

Due diligence Mortgages Principal Lending 370

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.

Mortgages 383

Mortgages Principal Lending Investor 383

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% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 417

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 417

Housing Wire

APRIL 7, 2021

While overall complaints were up 54% year-over-year, complaints against mortgage companies were up just 7.5%, and complaints against mortgage servicers were actually down, by 3.5%. These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry.

Mortgages 487

Mortgages Principal Loans Finance 487

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgages 395

Mortgages Loan Officer Lending Principal 395

Housing Wire

JANUARY 5, 2022

Reverse Mortgage Funding, LLC (RMF) has acquired a portfolio of mortgage servicing rights (MSRs) and other assets from industry-leading lender American Advisors Group (AAG), which consists of more than 75,000 loans totaling $12.1 billion in unpaid principal balance (UPB).

Mortgages 395

Mortgages Principal Loans Industrial 395

Housing Wire

MARCH 6, 2024

They also come as the mortgage industry is making efforts to adopt artificial intelligence solutions to improve productivity and better assist customers. Follette, who joined Pennymac 12 years ago, became the company’s senior managing director and chief mortgage operations officer in 2022.

Technology 417

Technology Principal Commercial Mortgages 417

Housing Wire

MAY 9, 2024

Guild Holdings Company , parent company of Guild Mortgage , recorded a 6% increase in mortgage originations and much higher revenue levels in the first quarter of 2024 than in 2023. The company’s unpaid principal balance (UPB) in its servicing portfolio also grew by two percent to $86.3 Net revenue sharply increased to $231.8

Principal 381

Principal Technology Mortgages Loans 381

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 417

Investor Bankruptcy Finance Equity 417

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Mortgages 454

Mortgages Fixed-rate mortgage Loans Loan Officer 454

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021. Time to eat the minnows?

Banks 395

Banks Mortgages Loans Equity 395

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. Concerns over the existing VA policies have been echoed among mortgage professionals.

VA loan 446

VA loan Loans Principal Mortgages 446