Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

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Industrial Mortgages Purchase and sale agreement Banks 418

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021. Time to eat the minnows?

Banks 418

Banks Mortgages Loans Equity 418

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 369

Banks Debt-to-income ratio Lending Loans 369

Housing Wire

MARCH 14, 2022

As the principal broker for a RE/MAX franchise in coastal Cannon Beach, Oregon, Alaina Giguiere’s typical responsibilities include marketing homes for sellers, touring homes with buyers, generating new business leads, managing client relationships, and drafting and reviewing contracts with buyers and sellers.

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Industrial Title Commercial Banks 435

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 397

Industrial Banks Loans Design 397

Housing Wire

JUNE 15, 2023

​​The Federal Reserve ‘s (Fed) interest rate hike pause will give the housing industry a cautious sigh of relief, but observers are already nervous that the rate-induced pain train won’t come to a complete stop for a while longer and volatility will remain. The industry wants a complete stop.

As-is 397

As-is Industrial Fixed-rate mortgage Mortgages 397

Housing Wire

NOVEMBER 18, 2024

by a number of industry players. Department of Veterans Affairs (VA) and the Federal Home Loan Banks (FHLBs) in New York, Chicago and San Francisco. The initiative comes as the mortgage industry prepares for mandatory adoption of VantageScore 4.0 These include the U.S. now or risk losing access to key mortgage GSEs.”

Mortgages 412

Mortgages Principal Banks Loans 412

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 When the company shut down, loans were sold to investors, except those remaining with Flagstar Bank and First Horizon.

Bankruptcy 441

Bankruptcy Banks Investor Principal 441

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually.

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Principal Investor Banks Mortgages 482

Housing Wire

MARCH 5, 2024

A mortgage industry veteran, Vas has served since October 2023 as the president of tech company Pagaya Technologies Ltd., a KKR -owned company; Citibank ’s mortgage division; Morgan Stanley ; American Express ; and Bank of America. The company has hired industry veteran Kyle Kilpatrick to lead the newly created division.

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Principal Commercial Loans Mortgages 439

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

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Commercial Brokerage Due diligence Title 448

Housing Wire

JANUARY 30, 2024

But the MSR market also appears to be in the midst of a rebalancing act marked by the growth of third-party private capital and an overall consolidation of market players, according to some industry experts. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower. “I

Marketing 433

Marketing Principal Banks Loans 433

Housing Wire

FEBRUARY 28, 2022

The FHFA would also eliminate the non-performing loan charge, which industry stakeholders had complained was procyclical, the agency wrote. 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 417

Principal Loans Industrial Banks 417

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible.

Mortgages 434

Mortgages Banks Equity Land 434

Housing Wire

JULY 25, 2024

But as a longtime industry professional who recognizes the potential value of the Home Equity Conversion Mortgage Program (HECM), Cullen previously explained to HousingWire ’s Reverse Mortgage Daily (RMD) that he made the transition from industry professional to customer. Our industry, in the grand scheme of things, is pretty small.

Mortgages 431

Mortgages Principal Development Industrial 431

Housing Wire

APRIL 8, 2022

“I believe that non-QM/non-agency lending represents the next phase of the mortgage industry, and I’m excited to influence it at Deephaven,” Gulotta said in a statement. This is the company that helped pioneer today’s non-QM market, and they continue to advance the industry.”. Presented by: Angel Oak.

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Sales Lending Principal Banks 397

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages 463

Mortgages Seller concession Principal Loans 463

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 468

Principal Loans Investor Banks 468

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank.

Banks 418

Banks Principal Finance Equity 418

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. including the states of California, Washington, Florida, Wisconsin and South Carolina.

Mortgages 459

Mortgages Principal Loans Loan Officer 459

Housing Wire

MAY 31, 2021

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. Senate Finance Committee.

Principal 422

Principal Banks Finance Technology 422

Housing Wire

SEPTEMBER 20, 2023

That demand means now is an opportune time for smaller, struggling independent mortgage banks (IMBs) to sell MSRs to manage cash flow and their balance sheets as pricing is likely at a high point in the market. “I Typically, we see for the industry average about 30% [MSR] retention and 70% released [or sold]. trillion, up some 92%.

Banks 435

Banks Loans Principal Investor 435

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

Principal 397

Principal Banks Loans Lending 397

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed rates would be slashed to a median 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels.

Banks 488

Banks Mortgages Principal Investor 488

Housing Wire

AUGUST 4, 2022

Angel Hernandez, vice president of industry and regulatory affairs at Stavvy , is moderating the panel and will tap into his background in housing policy and regulation to ask the questions you need to know to strategically drive your business forward. million loans with an unpaid principal balance of more than $1.2

Principal 435

Principal Title Banks Industrial 435

Housing Wire

JULY 12, 2023

BlackFin Group announced on Wednesday the appointment of Christopher Call as the principal consultant on the BlackFin Group Professional Services team. Founded in 2019, BlackFin Group is a management consulting firm specializing in strategic guidance, operational expertise, and innovative solutions for the banking and mortgage industries.

Principal 366

Principal Technology Banks Mortgages 366

Housing Wire

JUNE 2, 2022

NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 418

Mortgages Loan Officer Lending Principal 418

Housing Wire

AUGUST 26, 2024

Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. trillion unpaid principal balance (UPB).

Mortgages 456

Mortgages Banks Debt-to-income ratio Loans 456

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 448

Principal Loans Banks Mortgages 448

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

AUGUST 14, 2020

Ivanoski has 17 years of experience in the financial services industry, including time at State Street Corporation and Santander Bank. A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology.

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Lending Principal Industrial Development 370

Housing Wire

JUNE 17, 2024

After first entering the housing business to sell real estate , Jim Cullen transitioned into the mortgage industry in 1997. Even with the lower principal limits, I’m fortunate that I don’t have a mortgage to pay off. If you had an opportunity to tell the industry something, what would you like to say?

Mortgages 458

Mortgages Equity Principal Banks 458

Housing Wire

MARCH 23, 2022

We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. REMICs are tax exempt under federal law, although the income earned by investors is taxable. “We

Bankruptcy 397

Bankruptcy Banks Loans Investor 397

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 370

Principal Banks Mortgages Loans 370

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. Overall, as of December 6, 2021, Recursion’s data show banks controlled 33.2% billion agency MSR portfolio and a 6.2% market share.

Marketing 397

Marketing Banks Principal Loans 397

Housing Wire

JUNE 14, 2022

Fannie Mae’s new index provides two measures: volume of unpaid principal balance in dollars and a loan count. “The RALI has been a strong leading indicator for prepayment activities, and we believe the additional transparency it brings industry participants will improve prepayment modeling performance.”

Principal 370

Principal Loans Mortgages Banks 370

Housing Wire

JUNE 3, 2022

The major market dynamic making EBO deals attractive now, according to KBRA, is a changing of seasons in the mortgage industry, marked by fast-rising rates , high housing prices and a turn toward a competitive purchase-mortgage market. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure. million to $13.2

Loans 418

Loans FHA loan Principal Marketing 418