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Longbridge has a new addition to its proprietary reverse mortgage suite

Housing Wire

Principal agents and closed loan sellers can ask their LOS administrator to add it to their available product menu, the company said. But the variations available to brokers and principal agents differ. Other lenders active in the proprietary space include University Bank , Smartfi Home Loans and Nationwide Equities.

Mortgages 342
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A closer look at investor attitudes and trends in reverse mortgage stocks

Housing Wire

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.

Investor 370
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NYCB, a struggling $78B resi mortgage servicer, to receive $1B equity investment

Housing Wire

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. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 443
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Mutual of Omaha launches proprietary reverse mortgage product

Housing Wire

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. SecureEquity allows us to serve our clients beginning to end; from origination to servicing, ensuring a seamless experience.

Mortgages 294
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Pennymac’s profits shrink, but its servicing portfolio now stands at a massive $680B

Housing Wire

In our production segment, we acquired or originated nearly $30 billion in unpaid principal balance (UPB) of loans at higher note rates, which strategically positions our consumer direct division for significant growth when interest rates decline. billion in unpaid principal balance, down 19% from the prior quarter and up 33% from Q1 2024.

Principal 304
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Once at the fringes of housing finance, home equity investment companies look to grow their stake

Housing Wire

“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.

Equity 468
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Opinion: The Fed broke the banks. What’s next for mortgage?

Housing Wire

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated.

Banks 418