Housing Wire

JANUARY 6, 2025

Vanderbilt Mortgage & Finance , part of Warren Buffetts conglomerate Berkshire Hathaway , has been accused by the Consumer Financial Protection Bureau (CFPB) of manipulating underwriting standards and setting borrowers up to fail in manufactured home loans. The consumer watchdog on Monday filed a lawsuit in a U.S.

Loans 448

Loans Finance Lending Mortgages 448

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. To avoid this, you’d need additional rule changes.

Finance 448

Finance Agents FHA loan Closing costs 448

Housing Wire

MARCH 10, 2025

The deal, which has been approved by the boards of directors of both Rocket Companies and Redfin, is expected to close in the second or third quarter of 2025. Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 billion in equity.

Purchase and sale agreement 482

Purchase and sale agreement Pre-approval Brokerage Equity 482

Housing Wire

SEPTEMBER 4, 2024

Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement. He had a particular focus on residential developers and homebuilders.

Finance 448

Finance Residential Investor Lending 448

Housing Wire

NOVEMBER 15, 2024

Chicago’s offerings include doorbuster deals on Quick Move-In homes, which reduce pricing up to $93,850 if the home closes this year. In Charlotte , borrowers to lock in a lower rate on select Quick Move-In homes that can close by the end of the year. The home builder’s holiday incentives range by location.

Fixed-rate mortgage 418

Fixed-rate mortgage Closing costs Residential Finance 418

Housing Wire

MAY 17, 2024

has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. It also offers a homebuyer grant that distributes up to $7,500 in eligible areas.

Lending 481

Lending Closing Banks Commercial 481

Housing Wire

SEPTEMBER 27, 2024

In a recent episode of “The Loan Officer Podcast,” host Dustin Owen and guest John Coleman explore key tips that all aspiring real estate agents should know when navigating mortgage financing for a potential client. As a result, many condo deals don’t close due to a lack of understanding on the agent’s part.

Finance 448

Finance Agents Mortgages Loan Officer 448

Housing Wire

SEPTEMBER 30, 2024

California-based loanDepot on Monday announced it has closed a $300 million offering of notes backed by a revolving warehouse line of credit and secured by mortgages. loanDepot said this is the 10th time it has closed a transaction of this kind.

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Closing Principal Residential Finance 434

Housing Wire

JUNE 5, 2024

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National Mortgage News.

Finance 482

Finance Sales Equity Mortgages 482

Housing Wire

FEBRUARY 3, 2025

Chris Porter, a senior vice president at the firm and the author of the latest outlook, said this correlates with buyers dedicating more of their income to housing and seeking accessible financing options. It also ties into architects and builders creating smaller, denser homes to help close the affordable housing supply gap.

Debt-to-income ratio 408

Debt-to-income ratio Loans VA loan FHA loan 408

Housing Wire

OCTOBER 25, 2024

The expectation is that NEO will close by the end of February 2025. We made the decision to close the NEO Division to align with our long-term business strategy,” Taryn Reuter, CEO and chairman of Luminate, said in a statement. Inside Mortgage Finance shows Luminate Bank originated $1.26

Loans 435

Loans Closing Banks Lending 435

Housing Wire

OCTOBER 7, 2024

Freiha joins Opendoor after a three-year stint at Alphabet, where he started as Google ’s vice president of finance and oversaw commerce and payments before moving to capital allocations and planning. Prior to that, he worked in similar roles with eBay.

Technology 448

Technology Finance MLS Title 448

Housing Wire

OCTOBER 1, 2024

Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Rocket is committed to the entire homeownership experience from budgeting and credit building, to home search, financing and servicing,“ Bill Banfield, chief business officer of Rocket Companies, said in a statement. “We billion as of June 30. Annaly was No.

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Closing Principal Loans Finance 434

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This is specifically designed to benefit consumers during the high rate environment, the agency said. “In

Closing 529

Closing Mortgages Equity Loans 529

Housing Wire

OCTOBER 25, 2024

Tom Davis: Investor transactions are still close to 28% of the overall purchase market. Many investors prefer to close in the name of an LLC. Agency loans have limitations such as loan amounts, only allowing up to ten financed properties and they don’t accept five to nine units. Non-QM opens doors for real estate investors.

Investor 448

Investor New Construction Construction Loans 448

Housing Wire

DECEMBER 18, 2024

This sector is closely tied to the overall economic cycle and tends to show patterns before every recession observed in recent modern history. As 2024 comes to a close, the Fed has managed to overlook these issues for another year due to the factors mentioned above. We will soon find out.

Construction 511

Construction Residential Sales Mortgages 511

Housing Wire

OCTOBER 22, 2024

“By automating routine tasks and providing instant, personalized service, we empower agents to focus on what truly matters — building relationships and closing deals,” Real President Sharran Srivatsaa said in a statement. This represents the future of real estate — seamless, efficient and client-centered — and we are proud to lead the charge.”

Agents 435

Agents Brokerage Technology Staging 435

Housing Wire

OCTOBER 18, 2024

We have partnered with Calque to provide better options to those customers, including the ability to close immediately on a new home before putting their current home on the market.” Together, we’re changing the way people think about home financing by offering solutions that work for real people in real markets.”

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Equity Finance 448

Housing Wire

JANUARY 23, 2025

The Federal Housing Finance Agency had previously estimated that the pilot could save consumers between $500 and $1,500 per transaction. In their analysis, Nigrinis and Zywicki found that borrowers refinancing their mortgage could save an estimated $2.19 billion in total or as much as $1,692 per loan.

Title 468

Title Land Loans Closing costs 468

Housing Wire

AUGUST 14, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. servicing business, expected to close in the first quarter of 2025, benefits the bank by reducing costs and lowering risk for its balance sheet. They did not provide information related to the buyers’ names or the financial details. In the U.S.,

Banks 435

Banks Closing Principal Residential 435

Housing Wire

JULY 18, 2024

” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. Closing tasks such as appraisal , inspection, title insurance and homeowners insurance are done remotely.

Finance 448

Finance Investor Banks Residential 448

Housing Wire

MARCH 4, 2025

The takeaway from the pending sales numbers is that it takes roughly 35 days on average for sales to close, so homes in contract now will generally close in March, Simonsen wrote. Simonsen noted that the 60,000 pending sales of single-family homes are down 3% year over year even as the 639,000 homes available for purchase are up 28%.

Mortgages 483

Mortgages Sales Finance Closing 483

Housing Wire

OCTOBER 24, 2024

Although completed foreclosure auctions have plateaued in 2024 at less than half of pre-pandemic levels, the number of delinquent mortgages is close to pre-pandemic levels, according to an Auction.com analysis of public record data from ATTOM Data Solutions and survey data from the Mortgage Bankers Association (MBA). There is a lot of fear.”

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

OCTOBER 31, 2024

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. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah.

Mortgages 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

JANUARY 24, 2025

And about 10% of the total share of complaints were related to issues with loan closings. It was followed by Finance of America (27), Longbridge Financial (11) and Mutual of Omaha Mortgage (8). The overwhelming majority of complaints (98%) were responded to in a timely manner, and a similar share were closed with explanation.

Mortgages 417

Mortgages Bankruptcy Short sale Loans 417

Housing Wire

MARCH 25, 2025

Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private real estate lending platform specializing in short-term bridge , fix-and-flip, construction and land development loans.

Lending 274

Lending Equity Banks Construction 274

Housing Wire

NOVEMBER 19, 2024

The Bipartisan Congressional Real Estate Caucus is calling on the Federal Housing Finance Agency (FHFA) to cease its pilot program for title insurance waivers until the program is vetted and the agency seeks public input on it. The caucus expressed this view in a letter written by Reps. Lou Correa (D-Calif.), Mark Alford (R-Mo.),

Title 418

Title Title search Closing costs Loans 418

Housing Wire

MARCH 14, 2025

This was some of the perspective shared this week by Kristen Sieffert , president of Finance of America (FOA) when the company presented its earnings results for the fourth quarter and full year. Kristen Sieffert We also overhauled our data and reporting infrastructure using an A.I.

Branding 352

Branding Equity Lending Finance 352

Housing Wire

JANUARY 28, 2025

Apollo orchestrated this transaction and now our partnership through Newfi provides the financing needed to grow this business and scale it to a higher level. It’s a complete financing solution that helps us ramp up and scale our production in the BPL sector. Could you share how this move puts Dunmor at the forefront of that?

Residential 363

Residential Lending Finance Banks 363

Housing Wire

APRIL 4, 2025

The Peak variation also updated seasoning requirements for Platinum-to-Platinum or proprietary-to-Platinum to 24 months, from one closing date to the next. The new variation will also allow Longbridge partners to reengage with borrowers who may have previously been short to close.

Mortgages 323

Mortgages Principal Loans Equity 323

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

Debt-to-income ratio 321

Debt-to-income ratio Agents VA loan MLS 321

Housing Wire

MARCH 21, 2025

.’ In a presentation for investors , Rocket outlined how its acquisition of Redfin will help the company create a more seamless and affordable way for consumers to transact real estate, showing how it will take consumers from the home search phase all the way through title and closing. But Zillow has that recognizable consumer brand.

Loan Officer 286

Loan Officer Loans Mortgages Title 286

Housing Wire

JANUARY 15, 2025

Gen Z (56%) and Gen X (50%) followed closely behind. This Old House also noted that some projects could force homeowners to get creative when it comes to financing them. And younger generations led the way for home improvement plans, outpacing their older counterparts. Meanwhile, baby boomers were the least likely to renovate at 32%.

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Renovation MLS Finance Closing 418

Housing Wire

JANUARY 22, 2025

Since its launch, the company claims that its AI tool has tripled its conversion rate from website visits to loan closings. With this intuitive platform, we will remove traditional barriers for homebuyers through instant offers, AI-powered financing and Verified Approval Letters.

Staging 370

Staging Design Mortgages Finance 370

Housing Wire

JANUARY 17, 2025

The terms of the deal have not been disclosed but it is expected to close by the end of March 2025. Mr. Cooper had previously acquired the assets in a deal with Flagstar Bank , which was announced in July and closed in November. A&D reported that the two entities being acquired funded more than $10 billion in originations in 2024.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

DECEMBER 11, 2024

Department of Housing and Urban Development (HUD)s Office of Policy Development and Research recently published a report that more closely examines the housing needs of older Americans and the pain points that have exacerbated their needs stemming from a national housing crisis. population, on housing demand, according to the report.

Finance 370

Finance Development Equity Banks 370

Housing Wire

FEBRUARY 6, 2025

billion in consumer loans from Goldman Sachs while also closing a deal to purchase Sculptor Capital Management and its $33 billion in assets under management. according to Inside Mortgage Finance (IMF). Its refinance recapture rate in 2024 when including closed-end second-lien loans was 52%, up from 41% two years earlier.

Loans 409

Loans Equity Principal Mortgages 409