Housing Wire

APRIL 19, 2024

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. “The proposed activity is intended to provide homeowners with a cost-effective alternative for accessing the equity in their homes,” FHFA Director Sandra Thompson said in an announcement of the proposal.

Equity 488

Equity Finance Loans Banks 488

Housing Wire

AUGUST 1, 2024

Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the estimated market value of those homes. Between Q1 and Q2, the share of equity rich homes increased in 48 states.

Equity 482

Equity Mortgages Loans Marketing 482

Housing Wire

AUGUST 5, 2024

trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 On top of that, tappable home equity reached a new high of $11.5 roughly three in five — now have at least $100,000 in tappable home equity, which refers to the amount of equity they can access while maintaining a stable 20% equity “cushion.”

Equity 459

Equity Loans Mortgages Lending 459

Housing Wire

JULY 15, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , announced Monday that it has decided to waive the $795 origination fee charged to broker partners on home equity loans. With our home equity program, we want to make sure that we’re offering our broker partners a product they can win in this market and help their clients.”

Equity 448

Equity Loans Mortgages Finance 448

Housing Wire

DECEMBER 16, 2024

Homeowners have generally done well over the last few years in accumulating home equity wealth. Since the onset of the pandemic, average equity per borrower increased by about $117,000 nationally, totaling almost $312,000 per mortgaged borrower. Aggregated across borrowers with a mortgage, home equity adds up to almost $17.5

Equity 369

Equity Mortgages Loans Design 369

Housing Wire

MAY 15, 2024

This provides homeowners with a cost-effective alternative for accessing the equity in their homes.” Last month, Freddie Mac announced a plan to begin purchasing single-family closed-end second (CES) mortgages from lenders, a proposal now subject to a public comment review period before adoption. Morgan and Saluda Grade.

Equity 491

Equity Loans Investor Mortgages 491

Housing Wire

JULY 29, 2024

Home equity lending in 2023 grew by only 1.5% The data includes total originations of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans. Home equity originations were relatively flat in 2023 compared to 2022,” Walsh said in a statement. billion per company in 2023, compared with $2.1

Equity 445

Equity Lending Loans Renovation 445

Housing Wire

SEPTEMBER 5, 2024

This is one reason why home equity can be a notable difference-maker and should be part of the conversation. Long-term care should be a key consideration, and one potential way to address these costs and other spending goals is to incorporate home equity, according to Block.

Equity 459

Equity Finance Mortgages As-is 459

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. Homeowners benefiting from these subsidies are more capable of meeting their payment obligations, thus reducing the credit risk for lenders.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

SEPTEMBER 17, 2024

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. The product, which rolled out on Tuesday, combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. Unison has more than $1.8

Equity 430

Equity Loans Finance Mortgages 430

Housing Wire

DECEMBER 2, 2024

Older renters and homeowners of color endure “much higher housing costs,” while Molinsky’s 2023 report on housing trends indicated that older Black homeowners “had less than half the home equity of older white homeowners.” A separate survey from Redfin also found that homeownership tenures in the same house are rising significantly.

As-is 418

As-is Equity Land Mortgages 418

Housing Wire

NOVEMBER 12, 2024

The funding will go to support the company’s specialty home equity-tapping product known as the Cornerstone Home Equity Insurance/Investment Funding Solutions (CHEIFS). The product operates similarly to a shared equity investment. CHEIFS is currently available in four states: Arizona , California , Florida and Pennsylvania.

Equity 366

Equity Finance Mortgages Bankruptcy 366

Housing Wire

OCTOBER 25, 2024

In prior conversations with HousingWire ’s Reverse Mortgage Daily (RMD), leaders of equity sharing companies contend that their products are different from reverse mortgages largely because they are not debt-based instruments. But a court case playing out in the U.S. The plaintiffs brought action against the company in 2022.

Equity 448

Equity Mortgages Loans As-is 448

Housing Wire

NOVEMBER 13, 2024

In today’s challenging market, higher interest rates and home values have created a unique opportunity for lenders to grow their home equity lending business. Despite the recent interest rate reduction , the demand for home equity products remains strong. According to ICE’s Mortgage Monitor , tappable home equity has grown by $5.5

Equity 370

Equity Lending Loans Renovation 370

Housing Wire

NOVEMBER 1, 2024

According to Davis, rising home prices have led homeowners to tap into their equity for purposes such as debt consolidation , home renovation and student loan repayment. Investors, meanwhile, are leveraging the option to expand their property portfolios. Its closed-end second-lien product goes up to $500,000 with an 80% LTV cap.

Equity 393

Equity Debt-to-income ratio Mortgages Investor 393

Housing Wire

NOVEMBER 13, 2024

But some misconceptions about how the credit line is impacted by partial Home Equity Conversion Mortgage ( HECM ) prepayments was called out by Hultquist and McMinn. “Yes, Relationship between debt and equity McMinn continued with the next misconception, speaking again to a hypothetical borrower. The whistle blew immediately.

Equity 368

Equity Mortgages Principal Loans 368

Housing Wire

DECEMBER 5, 2024

As consumer debt reaches all-time highs and the cost of living continues to escalate, home equity investment fintech Splitero on Thursday announced a purchase commitment from funds managed by asset manager Blue Owl Capital. trillion in equity, of which $11.2 At the end of third-quarter 2024, U.S. mortgage holders held $17.2

Equity 380

Equity Technology Brokerage Mortgages 380

Housing Wire

OCTOBER 31, 2024

This is in line with some other proprietary reverse mortgages and seven years lower than the age requirement for the Home Equity Conversion Mortgage (HECM) program offered by the Federal Housing Administration (FHA). The product also has a minimum age requirement of 55.

Mortgages 432

Mortgages Equity Loan Officer Loans 432

Housing Wire

JULY 10, 2024

With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week , and now the FHFA National Mortgage Database Aggregate Statistics , we have a lot of visibility into the financial position of the American homeowner. When a person finds themselves no longer able to afford their mortgage payments (No.

Equity 545

Equity Loans Mortgages Sales 545

Housing Wire

APRIL 17, 2024

This would offer borrowers an alternative way to access their home equity without surrendering a first mortgage with a more favorable interest rate than is currently available. FHFA Director Sandra Thompson explained that such options are needed in the current mortgage rate environment.

Closing 529

Closing Mortgages Equity Loans 529

Housing Wire

JULY 1, 2024

By 2024, in addition to owning more than double their share of all real estate, the Top 20% of incomes held 87% of all corporate equities and mutual funds. Equity management firm Carta found that most employees do not exercise stock because of cost and financial risk.

Equity 531

Equity Banks Investor Finance 531

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgages 448

Mortgages Equity Loans Principal 448

Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. It’s the ninth straight year that the limit will increase based on home-price appreciation levels, which feeds into a single, national limit for all HECM loans.

Mortgages 397

Mortgages Equity Lending Loans 397

Housing Wire

OCTOBER 24, 2024

The rest are saving their equity with us by either selling to us or allowing us to list.” “I knew things were going down, but I didn’t know how bad it was until people started knocking on our door.” She wants to offer those homeowners the resources and care that her mom and stepdad didn’t experience. “I There is a lot of fear.”

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

JULY 12, 2024

A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status.

Equity 488

Equity Loans Commercial Mortgages 488

Housing Wire

DECEMBER 20, 2024

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.

FHA loan 346

FHA loan Mortgages Equity Loans 346

Housing Wire

SEPTEMBER 23, 2024

Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments.

Lending 446

Lending Mortgages Equity Loan Officer 446

Housing Wire

OCTOBER 18, 2024

When older homeowners wish to access a portion of their equity, there are multiple options. The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement.

Mortgages 447

Mortgages Principal Equity Loans 447

Housing Wire

JULY 9, 2024

The increased interest in EasyKnock began in December of 2023 , when Massachusetts Attorney General Andrea Joy Campbell announced that she had entered into a settlement with EasyKnock for what her office alleged was deceptive practices that stripped consumers of their home equity.

Purchase and sale agreement 448

Purchase and sale agreement Equity Lending Investor 448

Housing Wire

AUGUST 12, 2024

Piggybacks are a type of home equity loan taken out as a separate , additional loan from the borrower’s first mortgage. meaning they are left with zero or negative equity. This is according to a CoreLogic report published on Monday. In the same period, the piggyback share increased from 2.2%

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

SEPTEMBER 3, 2024

Leaning on education Shannon Robinson Shannon Robinson, senior vice president of the reverse mortgage division at New American Funding (NAF), said the company remains committed to the prospect of borrower education regarding its full range of home equity products. This would go doubly in a more favorable rate environment.

Mortgages 468

Mortgages Equity Finance Lending 468

Housing Wire

JUNE 17, 2024

These observations fueled my commitment to developing “Beyond Our Walls,” WakeMed’s health equity curriculum, which explores how issues like housing are pivotal factors in public health. The Raleigh Area Land Trust (RALT) is working to serve as a solution for needy families by mitigating housing instability and promoting health equity.

Land 499

Land Equity Development As-is 499

Housing Wire

JUNE 5, 2024

Our core focus is on creating a modern retirement that centers on home equity, and we will continue to make decisions that strengthen our platform and our ability to deliver for our customers, teammates, and investors,” she said. “Our It was not specified how many employees nor which specific divisions were impacted.

Finance 481

Finance Sales Equity Mortgages 481

Housing Wire

JULY 19, 2024

The association said that Gordon will touch on “noteworthy achievements thus far in 2024” for the Home Equity Conversion Mortgage (HECM) program, along with other priorities in the reverse lending space. Gordon will deliver a keynote address to begin the conference on Sept. 24 at the Hard Rock Hotel.

Equity 439

Equity Lending Mortgages Development 439

Housing Wire

NOVEMBER 12, 2024

It also wants to widely deploy refreshed marketing strategies that are designed to both educate and appeal to older homeowners about the use of home equity in retirement. It also wants to widely deploy refreshed marketing strategies that are designed to both educate and appeal to older homeowners about the use of home equity in retirement.

Mortgages 360

Mortgages Equity Lending Design 360

Housing Wire

OCTOBER 23, 2024

Cash-out refis have gained popularity due to record-high home equity levels in recent years. As for the product’s mortgage rates, Elezaj said they are more competitive than HELOCs (home equity lines of credit), traditionally a market dominated by credit unions and depository banks. Is the juice worth the squeeze?

Equity 448

Equity Loans Mortgages Loan Officer 448

Housing Wire

OCTOBER 18, 2024

Sellers can tap into their current home equity in a bid to buy another property without coming up with cash for a down payment. Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Calque also offers buyers a guaranteed offer on their current home to reduce risk. “It

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Equity Finance 448