Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. Assuming he put 3.5%

Equity 466

Equity Purchase and sale agreement Loans Mortgages 466

Housing Wire

JULY 22, 2024

San Francisco -based private lender Kiavi announced Monday that it has closed another multimillion-dollar securitization of residential transition loans (RTLs), bringing its six-month volume of issuances to nearly $1 billion. “This securitization furthers our capital advantage, bringing our half-year issuance to nearly $1 billion.

Loans 437

Loans Closing Investor Principal 437

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Besides closing subservicing deals, Rocket has been actively acquiring servicing assets at higher coupon rates to create refinance and home equity origination opportunities. billion in market value as of June 30.

Closing 422

Closing Principal Loans Finance 422

Housing Wire

AUGUST 9, 2022

The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). The contribution from the digital home equity line of credit (HELOC) to increase revenues in 2022 will be “modest,” as it will be launched by the fourth quarter, Martell said.

Closing 497

Closing Principal Lending Loans 497

Housing Wire

APRIL 1, 2024

“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 464

Equity Finance Purchase and sale agreement Investor 464

Housing Wire

MARCH 6, 2024

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. EST, up 18% compared to the previous closing. on Wednesday around 3 p.m.

Equity 407

Equity Mortgages Banks Commercial 407

Housing Wire

APRIL 1, 2025

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 254

Mortgages Principal Equity Loans 254

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. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This has caused HECM principal limits to drop for new applications.

Principal 450

Principal Mortgages Loans Equity 450

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 306

Equity Principal Mortgages As-is 306

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

JULY 30, 2024

Once the transaction is closed, which is expected on Aug. The deal is expected to close in the fourth quarter of 2024. ” According to the agency, Mr. Cooper’s leverage — calculated as debt to tangible equity — was 2.1 that is payable semiannually. The senior notes are due on Aug. million customers, to Mr. Cooper.

Principal 482

Principal Banks Investor Mortgages 482

Housing Wire

JULY 9, 2024

Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance. Otherwise, the servicer could close the reverse mortgage, which would also close the LOC. ’ Yes.

Mortgages 419

Mortgages Equity Principal Loans 419

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 444

Sales Mortgages Principal Equity 444

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year.

Equity 370

Equity Loans Residential Banks 370

Housing Wire

MAY 10, 2023

Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return on equity with an estimated 10% increase to operating earnings in the first year. Mr Cooper also estimates a tangible book value increase of about $1 per share at closing. Mr. Cooper had 4.1

Principal 418

Principal Equity Loans Mortgages 418

Housing Wire

JUNE 3, 2022

The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports. Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2

Loans 417

Loans FHA loan Principal Marketing 417

Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. Our intent is that, on close, we use the proceeds to further reduce corporate debt by an anticipated amount of $40 million.“ The company intends to issue $51.7 An inquiry to Waterfall was not immediately returned. “We

Mortgages 421

Mortgages Equity Principal Finance 421

Housing Wire

DECEMBER 7, 2023

According to the company , the offering size was increased from the previously announced $650 million aggregate principal amount of notes. Pennymac’s offering is expected to close on Dec. 11, subject to customary closing conditions. Pennymac’s offering is expected to close on Dec. A total of $1.8

Principal 374

Principal Equity Investor Mortgages 374

Housing Wire

SEPTEMBER 3, 2024

Leaning on education Shannon Robinson Shannon Robinson, senior vice president of the reverse mortgage division at New American Funding (NAF), said the company remains committed to the prospect of borrower education regarding its full range of home equity products. This would go doubly in a more favorable rate environment.

Mortgages 466

Mortgages Equity Finance Lending 466

Housing Wire

JULY 29, 2024

Additionally, lump sum advances are available at loan closing, and up to $10,000 is available for payment of prior mortgages, liens and pledges or for accessibility improvements and other home repairs.” The borrower receives a monthly payment.

Mortgages 444

Mortgages Principal Loans Industrial 444

Housing Wire

DECEMBER 11, 2023

It’s too early to tell December figures but we closed about 5% more transactions last month compared to November 2022. We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There is a lot more inquiry for home equity line credit.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

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. ” It’s tough. I think our friends at HUD [the U.S.

Mortgages 409

Mortgages Principal Development Industrial 409

Housing Wire

SEPTEMBER 16, 2022

Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest. In August and September, Rocket Mortgage and Rocket Pro TPO announced the offering of home equity loans to capitalize on record home equity levels.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

AUGUST 1, 2024

Leaders at the Detroit-based Rocket Companies say they will continue to invest in artificial intelligence (AI) to gain operational efficiency and grow their servicing portfolio, creating opportunities for refinances and home equity loans down the road. They will also keep chasing purchase market share. “We’re Rocket serviced 2.6

Marketing 431

Marketing Equity Loans Principal 431

Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 434

Mortgages Marketing Equity Finance 434

Housing Wire

JULY 15, 2021

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. The company is currently licensed in 36 states and Washington D.C.,

Principal 397

Principal Loans Equity Mortgages 397

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

JULY 28, 2023

Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. The mortgage transaction is expected to close by late 2023 or early 2024 when the merger is scheduled to be completed, Reuters reported.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

FEBRUARY 3, 2022

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. Another private-equity player in the MSR space is St.

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

MARCH 10, 2022

The offering, via a conduit called Lakeview Trust 2022-EBO1, is a rare transaction involving mostly delinquent mortgages, according to Kroll Bond Rating Agency ’s (KBRA’s) report on the offering, which is slated to close March 15. The benefit of this a [the lender] immediately stops advancing the principal and interest each month. “If

Mortgages 375

Mortgages Principal Loans FHA loan 375

Housing Wire

MARCH 5, 2024

Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 In addition, NYCB is also responsible for a subservicing portfolio close to $300 billion in UPB, comprehending about 1 million loans, per KBW analysts’ estimate. “We to assist with capital generation.

Sales 446

Sales Banks Principal Loans 446

Housing Wire

APRIL 24, 2024

PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release. That was less than the $38.1

Lending 447

Lending Loans Principal Mortgages 447

Housing Wire

OCTOBER 25, 2023

The firm also had a $39 million loss associated with equity investments primarily related to the sale of its title business in 2021. Executives said the company has over $100 billion in deals scheduled to close and onboard in the first quarter of 2024, as well as $80 billion in subservicing related to a contract signed recently.

Purchase and sale agreement 427

Purchase and sale agreement Equity Principal Banks 427

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” But New View has been warning for virtually the entirety of 2023 that the year’s issuance levels would not come close to those record-breaking levels.

Mortgages 473

Mortgages Bankruptcy Principal Industrial 473

Housing Wire

JULY 31, 2024

This resulted from $645 billion in unpaid principal balance (UPB), which grew from $587 billion in the previous quarter. The acquisition of Computershare Mortgage Services , which brought Specialized Loan Servicing (SLS) into the mix, added $154 billion in UPB after the deal closed in May. million in the previous quarter.

Principal 417

Principal Mortgages Loans Equity 417

Housing Wire

MARCH 2, 2021

The transaction is expected to provide up to $645 million in cash proceeds and a fully committed private investment in public equity (PIPE) of $300 million. Generally accepted accounting principal (GAAP) revenues are expected to be around $226.4 Up to $345 million of cash will be held in Capitol’s trust account. million in 2021.

Title 410

Title Equity Principal Branding 410

Housing Wire

AUGUST 29, 2022

billion in equity as of the second quarter, plus technology that can close loans faster than most competitors, aggressive pricing is a “multibillion dollar decision investment,” as Ishbia put it. His tangible net worth ratio (a proxy of how much equity you have relative to your total assets) is just under 30%.

Loan Officer 435

Loan Officer Loans Equity Mortgages 435