Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. real estate market consider acquiring an IMB franchise. trillion to $1.7 trillion.

Banks 435

Banks Mortgages Loan Officer Due diligence 435

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. Purchase loans are simply harder to market and convert, harder to process, and they generate lower revenues and higher expenses.”.

Banks 418

Banks Mortgages Loans Equity 418

Housing Wire

JANUARY 14, 2025

If you live in one those states, leveling up your career might mean studying to become a Managing Broker or Principal Broker. Open bank and trust accounts Next, you’ll need to set up all the necessary business banking accounts and Trust accounts. This will be used in your marketing and branding, so be sure its polished.

Brokerage 370

Brokerage Branding Agents Industrial 370

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

Marketing 529

Marketing Equity Loans Bankruptcy 529

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 active foreclosure. million to $13.2

Loans 418

Loans FHA loan Principal Marketing 418

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, the bulk MSR market should be incredibly robust throughout 2022.”. You just never know.

Marketing 397

Marketing Banks Principal Loans 397

Housing Wire

JANUARY 13, 2022

Another large mortgage-servicing rights bulk offering is on the market this week on the heels of a $10 billion MSR package that went out to bid earlier this month. . The latest deal is being marketed by New York-based Mortgage Industry Advisory Corp. , We’re approaching … a peak [in the market] again,” said Piercy. It is a $6.23

Mortgages 435

Mortgages Marketing Loans Principal 435

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgages 435

Mortgages Marketing Banks Investor 435

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

JANUARY 4, 2024

If passed, House Bill 809 and its companion Senate Bill 1070 would bar insurance carriers from placing a coverage limit on a home that would include the value of the land the house sits on, and it would require insurance companies to offer policies that cover only the unpaid principal on a mortgage.

Principal 526

Principal Mortgages Land Loans 526

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 516

Banks Lending Loans Principal 516

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. in 2021 to 15.3%

Marketing 369

Marketing Banks Principal Loans 369

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 ” The lender closed on October 13, 2023, amid a challenging mortgage market. million), investor Freddie Mac ($3.4

Bankruptcy 447

Bankruptcy Banks Investor Principal 447

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 370

Mortgages Banks Marketing Residential 370

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. Economic conditions, however, are opening up space for new entrants eyeing market share. This is because surging mortgage rates , upcoming regulatory changes and regional bank collapses have forced large depositories to pull back. PNC Bank ($7.9

Banks 370

Banks Marketing Loans Mortgages 370

Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. million to $23.7

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 a week earlier.

Marketing 418

Marketing Bankruptcy Loans Principal 418

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 467

Sales Banks Principal Loans 467

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. It’s a two-story housing market in Southern California,” Cohen said. Cohen funded $751.4

Mortgages 397

Mortgages Marketing Loans Banks 397

Housing Wire

JULY 12, 2024

“Consumers have benefited from a strong labor market and wage increases. The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year. The bank had $189 million from servicing revenues in Q2 2024, compared to $144 million in the previous quarter. .” billion in the previous quarter.

Mortgages 458

Mortgages Lending Banks Principal 458

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.

Principal 482

Principal Investor Banks Mortgages 482

Housing Wire

NOVEMBER 17, 2022

Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” According to Bosley, the top 20 or 25 issuers control most of Ginnie Mae’s servicing, and banks are already not excited about servicing these loans. . ” The current MSR market.

Marketing 448

Marketing Lending Loans Principal 448

Housing Wire

OCTOBER 22, 2020

According to Fed data, the central bank has bought over $1 trillion in bonds backed by home loans since then. While purchase loans are seeing record-low rates, the adverse market fee imposed on refinance loans by the FHFA in August make record lows for those loans unlikely. “Costs have changed, risks have changed.

Mortgages 538

Mortgages Principal Loans Banks 538

Housing Wire

MAY 23, 2024

He began his career in investment banking, going on to work for Lehman Brothers and First Albany Corp. James Grout, Offerpad’s senior vice president of finance, had been serving as the firm’s interim principal financial officer. We look forward to his contributions as we continue to drive growth and profitability at Offerpad.“

Principal 447

Principal Finance Banks Technology 447

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? Market conditions have certainly trended downward for residential or commercial real estate. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 448

Commercial Brokerage Due diligence Title 448

Housing Wire

MAY 19, 2023

The company’s unpaid principal balance reached $524.8 Between the acquisition of First Republic Bank and the purchase of Rocket’s MSRs, JPMorgan Chase has acquired approximately $126 billion worth of MSRs in the last two months. The spokesperson did not provide additional details on loan type or characteristics.

Principal 109

Principal Loans Mortgages Banks 109

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. to 4.75% range, up from 0.25% a year ago.

Marketing 397

Marketing Banks Mortgages Investor 397

Housing Wire

NOVEMBER 23, 2021

The MSR sales market is finishing out 2021 at a robust pace that market observers expect will continue into the new year, propelled by a rising-rate environment and anticipated tax-code changes. In early October, HousingWire reported on the details of two other bulk-servicing packages being marketed by Incenter.

Marketing 369

Marketing Loans Banks Principal 369

Housing Wire

DECEMBER 13, 2023

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely.

Banks 488

Banks Mortgages Principal Investor 488

Housing Wire

APRIL 12, 2024

In the first quarter of 2024, the big banks showed a challenging reality for originations. The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. billion in Q1 2024.

Mortgages 468

Mortgages Banks Fixed-rate mortgage Lending 468

Housing Wire

SEPTEMBER 16, 2022

The reperforming-loan pools were marketed with Citigroup Global Markets In c. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”. acting as advisor.

Sales 418

Sales Principal Loans Banks 418

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. Market speculation has been rife since January of this year that Wells Fargo was preparing to sell some sizable MSR packages, HousingWire reported previously.

Principal 448

Principal Loans Banks Mortgages 448

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 Morgan Chase Bank , 6.5%; Rocket Mortgage , 6.4%; and Wells Fargo , 4.7%. Citigroup Global Markets Inc.

Principal 448

Principal Loans Investor Residential 448

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

Industrial 418

Industrial Mortgages Purchase and sale agreement Banks 418

Housing Wire

APRIL 8, 2022

This is the company that helped pioneer today’s non-QM market, and they continue to advance the industry.”. Deephaven, owned by alternate investment firm Pretium , shut down its non-QM operation and laid off all its workers in spring of 2020 when the pandemic sapped the market of liquidity. Presented by: Angel Oak.

Sales 397

Sales Lending Principal Banks 397

Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024.

Industrial 468

Industrial Mortgages Banks Principal 468

Housing Wire

NOVEMBER 17, 2021

Other forms of financial remediation could include borrower refunds, principal reduction, account adjustment or remittances paid to FHA. Industry and housing advocates say the document is unclear, and will not spur the return of depositories that in recent years have abandoned the FHA market. Become a member today. Already a member?

Marketing 370

Marketing Principal Loans Development 370