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FOA lowers rate, expands HomeSafe Second reverse mortgage into new states

Housing Wire

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 434
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Industry reacts to FHA’s loss mitigation changes

Housing Wire

Housing industry pros are largely supportive of the raft of changes the Federal Housing Administration made related to the COVID-19 era loss mitigation waterfall. Together, these safeguards will improve sustainability, protect the FHA insurance fund, preserve borrower equity, and further align FHA with the GSEs.

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The Real Brokerage is banking on ‘pure tech innovation’

Housing Wire

Those additional streams include equity incentives, revenue sharing, and JV opportunities in title services. Learning from industry giants Over the years, real estate firms have shone a pattern of several years of ascent followed by a plateau. Doubling down on tech innovation With dramatic growth comes the next evolution of the firm.

Brokerage 284
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Flagstar Bank makes changes to TPO leadership

Housing Wire

Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. TPO is the bank’s main source of mortgages.

Banks 448
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Here’s how one CRE veteran helps multifamily investors thrive

Housing Wire

It is at the intersection of business, banking, and the economy. Commercial real estate finance is at the forefront of business, banking, and the economy, which excites me about this field. Commercial real estate finance is at the forefront of business, banking, and the economy, which excites me about this field.

Investor 468
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Santander Bank to stop originating mortgages in the United States

Housing Wire

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. mortgage industry are in the past.

Banks 468
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Home-equity lending blossomed in 2023

Housing Wire

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. from $490 billion in the second quarter.

Equity 488