Housing Wire

OCTOBER 22, 2024

The third-quarter financials for Pennymac Financial Services illustrate the double-edged sword of declining interest rates for mortgage companies. With lower rates and more opportunities to refinance mortgages, Pennymac generated a pretax income of $108 million in Q3 2024 in its production segment, up from $41.3 million in Q3 2023.

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Housing Wire

JANUARY 21, 2025

After years of high interest rates, and price spikes, mortgage lenders are optimistic heading into 2025. Fannie Mae predicts a 28% increase in mortgage originations to $2.1 The Mortgage Bankers Association (MBA) also predicts that total origination volume will increase by 28.5%

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Housing Wire

APRIL 1, 2025

The current reverse mortgage industry market leader, Mutual of Omaha Mortgage , announced on Tuesday that it has launched a new proprietary reverse mortgage product, with initial availability in California and Florida. The product line, known as SecureEquity, is available to homeowners as young as age 55.

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Housing Wire

MARCH 4, 2025

In an environment of high home prices and elevated mortgage rates , older homeowners taking a closer look at less expensive areas to make their money go further is not an isolated phenomenon. Make sure you research your options, said gerontologist Nancy Schier-Anzelmo, principal in Alzheimers Care Associates in an interview with Yonder.

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Housing Wire

OCTOBER 30, 2024

New York-based asset manager Rithm Capital , the owner of multichannel lender Newrez , reported a 58% increase in refinances to $3 billion in the third quarter of 2024 after mortgage rates dropped due to the Federal Reserve ’s 50 basis-point rate cut. billion in mortgages in Q3 2024, higher than the figures of $14.6 billion in Q3 2023.

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Housing Wire

APRIL 21, 2025

The principal investigator of the study is Mariana Amorim, an associate professor in the department of sociology at Washington State University. The companies offering them have often aimed to contrast these offerings with reverse mortgages, or other more traditional home equity tapping products like a home equity line of credit ( HELOC ).

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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. According to conventional wisdom, homeowners should hold off on getting a reverse mortgage until they need it or until interest rates decrease.

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Housing Wire

FEBRUARY 6, 2025

Rithm Capital , which owns multichannel mortgage lender Newrez , built upon its success in 2023 with net income of $835 million in 2024. according to Inside Mortgage Finance (IMF). 3 among the nations largest primary mortgage servicers, according to IMF, and its UPB jumped 32% year over year in the fourth quarter to reach $844 billion.

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Housing Wire

MARCH 7, 2025

The report also states that the idea is being championed by Irving Dennis, HUDs new chief financial officer and principal deputy. Dennis, the agencys new principal deputy chief financial officer, is a former partner at the global consulting giant EY , also commonly known by its original name, Ernst & Young , the report said.

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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. Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs. Why are there two HECM interest rates used with HECM loans?

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Housing Wire

MAY 10, 2024

Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs. This will now be changed, according to provisions of the law as analyzed by the committee.

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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 Perotti added that the company’s total lock volumes of $36 billion were down 7% from the prior quarter due to higher mortgage rates. It’s an about-face for PennyMac after it posted a net loss of $36.8

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Housing Wire

MARCH 11, 2025

is expanding into the residential mortgage business, and it’s picked up Sterling Point Advisors ‘ Jeff Juliane and Brett Ludden to lead the effort. Ludden and Juliane will focus on providing comprehensive advisory services to mortgage lenders, servicers and investors. Global consulting and actuarial firm Milliman Inc.

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Housing Wire

NOVEMBER 5, 2024

Chief financial officer David Hayes said in a statement that in the third quarter, there was a “modest improvement in the mortgage market, coupled with the company’s positive operating leverage,” which fueled the return to profitability. “As Costs may increase as the company continues to add loan officers and operations team members.

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Housing Wire

OCTOBER 18, 2024

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. Monthly principal and interest mortgage payments are also required. Let’s define and compare them.

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Mortgages Principal Equity Loans 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.

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Mortgages Principal Equity Loans 482

Housing Wire

NOVEMBER 6, 2024

the parent company of Guild Mortgage , sustained a $66.9 Schmidt added that a “clear differentiator” the company has is “the realization of the growth platform” stemming from its acquisitions, which included Academy Mortgage at the beginning of the year. billion in unpaid principal balance (UPB), but it recorded a net loss of $74.6

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Housing Wire

APRIL 3, 2025

A lawsuit over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender has been brought to an end with a summary judgment, but the plaintiffs in the case have vowed to appeal the decision. Congress granted extinguishment power over mortgages, he wrote. It chose mortgages.

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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. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).

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Principal Mortgages Loans Equity 444

Housing Wire

OCTOBER 3, 2024

SitusAMC has struck a deal to sell a majority stake of two subsidiaries focused on mortgage risk management to investment firm VineLight Venture. It comes as Securent seeks capital to invest in rising-demand products, especially in the residential mortgage-backed securities (RMBS) space. The terms of the agreement were not disclosed.

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Mortgages Principal Residential Brokerage 448

Housing Wire

JANUARY 25, 2025

In this informative conversation, the duo touch on Newrez’s growth and acquisition strategies, the use of technology and artificial intelligence for client retention, and finding balance between mortgage servicing and origination activities. Sanchez: Newrez has a giant servicing business with $755 billion in unpaid principal balance.

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Housing Wire

AUGUST 15, 2024

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. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

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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%

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Housing Wire

MARCH 7, 2024

And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. My guess is we’ll do 10 or 11 deals this year in the $5.5

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Housing Wire

MAY 30, 2024

In March 2024, the national delinquency rate for residential mortgages stood at 2.8% The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due) accounted for 1.5% in March 2023. in March 2023.

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Mortgages Staging Principal Loans 476

Housing Wire

JULY 29, 2024

Officials in Montana continue to promote the specialized Reverse Annuity Mortgage (RAM) program for the state’s seniors, with one official saying that it could be a big difference-maker for those in Montana looking to age in place while gaining access to additional cash. It is serviced by the state. They hold the paper.

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Mortgages Principal Loans Industrial 448

Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7 Rocket originated $42.3

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Housing Wire

APRIL 21, 2025

director of research and a managing principal at John Burns. As in prior surveys, mortgage rates remain a critical factor. Nearly four of five consumers (78%) still believe mortgage rates will return to the historically low levels seen in recent years. households. DOGE Service is already taking a measurable toll.

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Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

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Mortgages Principal Equity Loans 468

Housing Wire

DECEMBER 6, 2023

In September 2022, the 30-year fixed mortgage rate averaged 6.1%, according to Freddie Mac data. But compare mortgage delinquencies over the same period: 2.8% CoreLogic principal economist Molly Boesel attributes much of the stability in the low delinquency rate to low unemployment over the period. in September 2022, 2.8%

Mortgages 504

Mortgages Principal Staging Loans 504

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

JULY 25, 2024

Jim Cullen spent nearly 20 years in the reverse mortgage profession and recently decided that it was time to retire. Chris Clow/RMD: Jim, you were a real estate agent and then a forward mortgage professional before jumping into the reverse arena. I made the switch into reverse mortgages, quite honestly, not due to anything I initiated.

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Mortgages Principal Development Industrial 444

Housing Wire

JULY 11, 2024

Rocktop — a software-as-a-service (SaaS) company that works to improve yields for institutional investors , asset managers and other participants in the fixed-income and mortgage markets — has now placed more than $60 billion in unpaid principal balance (UPB) on its data management platform. billion in UPB. “The

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Housing Wire

JANUARY 10, 2025

Incenter Lender Services , a group of companies that help nonbank and depository mortgage lenders nationwide, announced this week the hiring of two new vice presidents. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.

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Housing Wire

MAY 21, 2024

Traditional equity-tapping methods — such as selling the home or taking out a home equity loan — could present lifestyle challenges, which is where alternative options like reverse mortgages can come into play. Interest rates also further complicate matters if the homeowner has a more beneficial mortgage rate than is available today.

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Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0

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Housing Wire

FEBRUARY 27, 2025

When we talked about affordability, we talked about mortgage rates and supply and demand, but never insurance, because that was considered a constant. Now, affordability increasingly depends on non-mortgage components of a total monthly payment, Hepp said. That has changed. The first is the frequency and severity of natural disasters.

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