Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 370

Finance Equity Mortgages Principal 370

Housing Wire

APRIL 22, 2025

His brother, Jeffrey Finn, serves as principal broker, Richmond BizSense reported. His brother, Jeffrey Finn, serves as principal broker, Richmond BizSense reported. Terms of the cash deal were not disclosed, although John Finn said it was backed by third-party acquisition financing.

Brokerage 221

Brokerage Principal Agents Finance 221

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. …

Investor 448

Investor As-is Commercial Equity 448

Housing Wire

AUGUST 9, 2023

billion in the unpaid principal balance of MSRs as of June 30, 2023, compared to $297.9 “Unlike others that are more reactive to cyclical market conditions, we will continue to be aggressive in our technology and product investments. UWM originated $31.8 billion in the first quarter of 2023 and $22.4 billion in the second quarter of 2022.

As-is 370

As-is Principal Mortgages Loans 370

Housing Wire

MAY 29, 2024

The government-sponsored enterprises (GSEs) are now targeting a 20% reduction in principal and interest (P&I) payments to keep borrowers facing permanent financial stress in their homes. “The Fannie Mae and Freddie Mac on Wednesday announced an update to one of their loss-mitigation solutions known as Flex Modification.

Principal 467

Principal Loans Mortgages Finance 467

Housing Wire

FEBRUARY 13, 2025

The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans. The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans. billion since 2019. million received a 21.8%

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Land Investor Principal New Construction 259

Housing Wire

JUNE 11, 2024

And Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. million in aggregate principal of 2028 senior notes held by Artemis Management LLC. The new debt will pay 8.75% — an incremental 0.5% The debt extension is credit positive, giving them now two more years.

Principal 486

Principal Mortgages Finance Investor 486

Housing Wire

NOVEMBER 1, 2024

Whether you’re looking to start a career in real estate, already have one or are involved in real estate transactions, you may find yourself wondering about industry terminology and job titles. The industry acronyms alone look like alphabet soup. So, let’s start with the basics: What is a real estate broker vs. an agent? Let’s dive in!

Agents 448

Agents Brokerage Purchase and sale agreement Commercial 448

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Homesellers, who now have many offers to choose from, are not likely to look favorably on anything that entails more complicated financing.

FHA loan 493

FHA loan VA loan Loans Loan Officer 493

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. (The How Freddie Mac is addressing affordable housing challenges. Presented by: Freddie Mac.

Loans 476

Loans Title Finance Lending 476

Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

Loans 476

Loans Fixed-rate mortgage Principal Renovation 476

Housing Wire

APRIL 19, 2022

The administration said that the new loss mitigation option could be an alternative for borrowers who cannot reduce their principal and interest payments by 25% through FHA’s existing 30-year mortgage modification with a partial claim. Comments from the mortgage industry are due by May 31.

Loans 508

Loans Principal Mortgages Real-estate owned 508

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Loans 448

Loans FHA loan Principal Finance 448

Housing Wire

AUGUST 27, 2024

The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months). The 203(k) offering has two separate programs. Updates have been made to both variations.

Loans 448

Loans Renovation Finance Principal 448

Housing Wire

MAY 13, 2024

McCain, HUD’s principal deputy secretary for fair housing and equal opportunity, said in a statement. Rocket will also provide fair lending training to its employees and improve outreach regarding the financing options available for properties within the boundaries of Native American reservations.

Lending 442

Lending Land Principal Finance 442

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Annaly has $75 billion in assets invested across its agency mortgage-backed securities (MBS), residential credit and MSR strategies. billion as of June 30.

Closing 434

Closing Principal Loans Finance 434

Housing Wire

JUNE 7, 2024

year over year, according to Inside Mortgage Finance (IMF) estimates. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March. Newrez, a top-five U.S. mortgage lender, originated $10.8

Bankruptcy 465

Bankruptcy Loan Officer Principal Loans 465

Housing Wire

AUGUST 15, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. billion in unpaid principal balance (UPB). Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. 36 in the IMF ranking.

Investor 476

Investor Mortgages Banks Principal 476

Housing Wire

MARCH 2, 2023

Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. He joined Ginnie in March 2022 following a stint as supervising attorney advisor for the Federal Housing Finance Agency (FHFA). The position is based in Washington, D.C.

Principal 397

Principal Finance Loans Mortgages 397

Housing Wire

JUNE 3, 2021

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. of the GSE’s total securitized unpaid principal balance. The options to put off debt payments for federally-backed multifamily properties had been slated to expire at the end of June.

Principal 497

Principal Finance Loans Equity 497

Housing Wire

JUNE 28, 2024

The Federal Housing Finance Agency (FHFA) on Thursday named the inaugural members of its newly created advisory committee on affordable, equitable and sustainable housing. The FHFA began soliciting applications for the committee in September 2023.

Lending 418

Lending Principal Finance Land 418

Housing Wire

OCTOBER 11, 2023

The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. mortgage lender in the first half of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 493

Principal Loans Finance Investor 493

Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025.

Principal 448

Principal Finance Mortgages Equity 448

Housing Wire

JULY 21, 2022

“With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples. “As

Bankruptcy 418

Bankruptcy Banks Pre-approval Principal 418

Housing Wire

MARCH 5, 2024

Effective immediately, issuers of Ginnie Mae mortgage-backed securities must notify Ginnie Mae of any cybersecurity incident within 48 hours of its detection. This new requirement is an important step in further enhancing our cybersecurity framework to meet current and future needs.”

Principal 459

Principal Finance Investor Mortgages 459

Housing Wire

SEPTEMBER 30, 2024

It also sold MSRs of low-coupon originations from the 2020 and 2021 vintages, bringing its total unpaid principal balance (UPB) to $114 billion on June 30 compared to $142 billion on March 31. loanDepot said this is the 10th time it has closed a transaction of this kind.

Closing 435

Closing Principal Residential Finance 435

Housing Wire

SEPTEMBER 29, 2023

And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306 , according to Black Knight ’s mortgage monitor report.

Mortgages 516

Mortgages Principal Brokerage Finance 516

Housing Wire

MAY 8, 2024

According to Inside Mortgage Finance (IMF) estimates, Newrez was the fifth-largest mortgage lender in the country in the first quarter of 2024. billion in unpaid principal balance (UPB) in the first quarter, down 1.5% Top-five U.S. The layoffs include mortgage professionals such as processors, underwriters and loan officers.

Loan Officer 448

Loan Officer Principal Loans Mortgages 448

Housing Wire

JULY 19, 2024

The new term sheet details several differences from the current HMBS program, including a reduction in the HMBS pool size to 95% of the loan’s total unpaid principal balance (UPB). To get a better idea of the potential impact that HMBS 2.0 Wong is also a member of the company’s investment committee.

Development 459

Development Industrial Mortgages Fixed-rate mortgage 459

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

Investor 448

Investor Bankruptcy Finance Equity 448

Housing Wire

MARCH 5, 2024

“Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. Kasnet, chairman of Two Harbors, said in a statement.

Principal 446

Principal Commercial Loans Mortgages 446

Housing Wire

AUGUST 1, 2024

The transaction would include a reverse mortgage servicing portfolio, which is currently subserviced by PHH Mortgage , with a projected unpaid principal balance of approximately $3 billion,” Onity announced. This deal is also accompanied by seller-provided financing, and it is accretive to both earnings per share and cash.

Principal 444

Principal Mortgages Lending Closing 444

Housing Wire

MAY 21, 2024

You generally pay off the mortgage when the home is no longer your principal residence.” But the core issue of the way that retirement financing is structured in the U.S. Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need.

Equity 459

Equity Mortgages Principal Finance 459

Housing Wire

FEBRUARY 28, 2022

The Federal Housing Finance Agency (FHFA) proposed some key changes to requirements for single-family seller servicers that do business with the enterprises. The lowest minimum liquidity requirement — for those servicers who are only obligated to pay whatever interest and principal the borrower pays — would be set at 3.5 basis points.

Principal 418

Principal Loans Industrial Banks 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. million in unpaid principal balance; pool 2 is at $342.5 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time.

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

SEPTEMBER 10, 2024

Rocket Mortgage ranked as the third-largest lender in the country during the first half of this year, per data from Inside Mortgage Finance. billion in unpaid principal balance (UPB) at the end of the second quarter. Rocket originated $42.3 billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 billion so far in 2022. billion, according to a presale report by Kroll Bond Rating Agency (KBRA).

Principal 448

Principal Loans Investor Residential 448