Housing Wire

MAY 21, 2024

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. With this product, eligible people 62 and older can extract equity in a variety of ways, say through a lump sum. But their equity is also a tool. Homes are trophies, sure.

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Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. People have looked at the demographics, the under-savings of seniors and the significant amount of home equity seniors hold as a potentially large opportunity,” he said.

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Investor Mortgages Bankruptcy Equity 370

Housing Wire

DECEMBER 7, 2021

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

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Equity Principal Mortgages Closing 476

Housing Wire

FEBRUARY 6, 2025

Around the same time , Rithm also struck a $720 million deal for Computershare Mortgage Services and its subsidiary, Specialized Loan Servicing , which brought $136 billion in unpaid principal balance (UPB) to Rithms servicing book. Sculptor added another $1 billion in assets during the past year, according to the 2024 earnings report.

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Loans Equity Principal Mortgages 411

Housing Wire

JANUARY 31, 2025

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 It’s an about-face for PennyMac after it posted a net loss of $36.8 million in Q4 2023. For 2024 as a whole, the California -based lender earned a profit of $311.4 million, up from $144.7 million in 2023.

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Principal Lending Equity Mortgages 366

Housing Wire

NOVEMBER 5, 2024

In August, loanDepot added a first-lien home equity line of credit (HELOC) to its product suite, enabling homeowners without a mortgage to borrow from their home equity. Regarding loanDepot’s servicing portfolio, the unpaid principal balance (UPB) increased to $114.9 Meanwhile, the company’s total revenues reached $314.6

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Purchase and sale agreement Equity Loan Officer Principal 397

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

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Equity Purchase and sale agreement Loans Mortgages 468

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. The product line, known as SecureEquity, is available to homeowners as young as age 55.

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Mortgages Principal Equity Loans 307

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

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Equity Finance Purchase and sale agreement Investor 468

Housing Wire

OCTOBER 29, 2021

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Seniors’ response to alternative equity tapping since COVID-19 onset. Eoin Matthews, CBO and co-founder of Point.

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Equity Mortgages Principal As-is 418

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. The leadership is also changing. billion goodwill impairment.

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Equity Mortgages Banks Commercial 443

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

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Equity Principal Mortgages Loans 312

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.

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Equity Mortgages Principal Loans 370

Housing Wire

FEBRUARY 27, 2025

CoreLogic data shows that the percentage of mortgage borrowers who pay more for their taxes and insurance than their principal and interest has risen from 2% roughly a decade ago to nearly 10% today. That has changed. When it comes to what’s causing the rapid rise in insurance costs, Hepp sees six key drivers.

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Equity Construction Principal Mortgages 269

Housing Wire

MARCH 7, 2024

Michael Warden , managing principal and CEO of Invictus Capital Partners — one of the largest players in the nonqualified mortgage (or private-label) securitization space via Verus Securitization Trust — is also quite bullish on the future of private capital in the mortgage market. It’s a matter of speed. …

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Investor As-is Commercial Equity 448

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.

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Mortgages Principal Equity Loans 448

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 307

Equity Principal Mortgages As-is 307

Housing Wire

SEPTEMBER 10, 2024

In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages ( HECM s) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. After all, older ages and lower interest rates generally yield higher principal limits. 10 to Sept.

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Mortgages Principal Equity Loans 459

Keeping Current Matters

DECEMBER 21, 2021

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb , your equity does too.

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Equity Principal Loans As-is 312

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. Why are there two HECM interest rates used with HECM loans?

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Principal Mortgages Loans Equity 459

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.

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Mortgages Equity Loans Principal 448

Housing Wire

AUGUST 16, 2024

Many seniors aren’t aware of a sensible financial tool that could ease their worry and help them thrive during their golden years: the home equity conversion mortgage, also called a reverse mortgage. In my work, I talk with many seniors. Sometimes, the concern is emotional, but more often than not, it’s financial.

Mortgages 482

Mortgages Principal Equity Loans 482

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). we must use the nearest 1/8th percent (0.125%).

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Principal Mortgages Loans Equity 444

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 Marty Green thinks of the housing market in 2022 as two very different movies.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. On home equity , Boesel noted that home-price growth should pick up over the next year.

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Mortgages Staging Equity Principal 468

Housing Wire

JUNE 18, 2024

million in aggregate principal amount available for 30 days to cover over-allotments. BTIG analysts Eric Hagen and Jake Katsikas estimate that the debt offering will bring the company’s total unsecured debt stack to $850 million, supported by about $1 billion in stockholder equity. The offering can be increased by $12.75

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Housing Wire

OCTOBER 2, 2023

While the average unpaid principal balance of borrowers entering a refinance has fallen from $319K in early 2020 to $183K in August 2023, it is even lower ($165K) among cash-outs specifically. Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Mortgages 448

Mortgages Equity Lending Principal 448

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

JULY 30, 2024

” According to the agency, Mr. Cooper’s leverage — calculated as debt to tangible equity — was 2.1 Meanwhile, Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. that is payable semiannually. The senior notes are due on Aug. times at the end of 2023.

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Principal Banks Investor Mortgages 482

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. . About half of its loans were originated in California.

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Housing Wire

JULY 9, 2024

Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. This power is enhanced by higher interest rates.

Mortgages 434

Mortgages Equity Principal Loans 434

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 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. We are excited about today’s announcement and what it means for our ability to continue growing our Home Equity Conversion Mortgage (HECM) activities,” Wong added.

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Mortgages Equity Principal Finance 434

Housing Wire

JUNE 3, 2022

Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2 Key to EBO offerings is the fact that the FHA guarantees 100% of the principal balance on the loans it insures. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure.

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Loans FHA loan Principal Marketing 418

Housing Wire

MAY 23, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. million HECM loans between Oct. 1, 1999, and Sept.

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Equity Loans Principal Commercial 459