Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And Turning point A turning point for the home equity investment market came with the closing of the first rated securitization of notes backed by HEAs in September 2023.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 370

Finance Equity Mortgages Principal 370

Housing Wire

FEBRUARY 13, 2025

The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans. It also launched a new construction financing product for builders. The company closed multiple RTL securitizations last year, including a $350 million transaction in the first quarter.

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Land Investor Principal New Construction 259

Housing Wire

JUNE 11, 2024

And Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. The debt extension is expected to close on June 18 if 85% of the eligible bondholders agree with conditions. million in aggregate principal of 2028 senior notes held by Artemis Management LLC.

Principal 486

Principal Mortgages Finance Investor 486

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

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Loans Title Finance Lending 476

Housing Wire

OCTOBER 2, 2023

Rithm’s deal with Computershare will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance (UPB) to the company. Following the deal’s closing, Specialized Loan Servicing portfolio and operations will be under Newrez, the 8th largest U.S. Computershare Loan Services was No.

Mortgages 435

Mortgages Loans Principal Finance 435

Housing Wire

NOVEMBER 1, 2024

Last but not least, real estate agents prepare documents such as closing documents, purchase agreements, and leases while ensuring that the transaction is in compliance with local laws and their client’s terms are met. An agent may also be present at closings to review closing documents and help guide their client through the final steps.

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Agents Brokerage Purchase and sale agreement Commercial 448

Housing Wire

AUGUST 15, 2024

In a call with analysts, UBS chief financial officer Todd Tuckner said the deal, expected to close in the first quarter of 2025, benefits the bank by reducing $250 million in annualized costs and lowering risk-weighted assets by $1.3 According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. 36 in the IMF ranking.

Investor 476

Investor Mortgages Banks Principal 476

Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. In a flash, millions of Americans lost their jobs and incomes.

Mortgages 504

Mortgages Principal Loans Finance 504

Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. These clients are typically low on funds, which is why they need this type of financing. “But agent commissions have never been a closing cost from a buyer perspective. points from the 7.5%

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VA loan Agents Seller concession FHA loan 482

Housing Wire

MAY 8, 2024

According to Inside Mortgage Finance (IMF) estimates, Newrez was the fifth-largest mortgage lender in the country in the first quarter of 2024. billion in unpaid principal balance (UPB) in the first quarter, down 1.5% The job cuts were imposed on analysts, coordinators and senior employees, among others. quarter over quarter and 44.9%

Loan Officer 448

Loan Officer Principal Loans Mortgages 448

Housing Wire

OCTOBER 11, 2023

The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. Following the transaction’s closing, which is expected to happen in the first quarter of 2024, SLS will operate under NewRez, the eighth-largest U.S. 10-12 at the Hyatt Lost Pines.

Principal 493

Principal Loans Finance Investor 493

Housing Wire

MARCH 28, 2023

Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments. Homeowners who are making monthly mortgage payments to Rocket Mortgage can use their card points to receive 2% of their card spending toward their unpaid principal balance.

Closing costs 435

Closing costs Finance Principal Mortgages 435

Housing Wire

AUGUST 1, 2024

“The transaction would include a reverse mortgage servicing portfolio, which is currently subserviced by PHH Mortgage , with a projected unpaid principal balance of approximately $3 billion,” Onity announced. The deal is still subject to regulatory approval but is expected to close sometime in the second half of 2024. “We

Principal 444

Principal Mortgages Lending Closing 444

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. According to the brokerage, 6.5%

Mortgages 516

Mortgages Principal Brokerage Finance 516

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. Market conditions have certainly trended downward for residential or commercial real estate.

Commercial 448

Commercial Brokerage Due diligence Title 448

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. million in unpaid principal balance; pool 2 is at $342.5 The reperforming-loan sale is slated to close by late October 2022, after due-diligence period. million; and pool 3, $312.9

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

SEPTEMBER 10, 2024

Rocket Mortgage ranked as the third-largest lender in the country during the first half of this year, per data from Inside Mortgage Finance. billion in unpaid principal balance (UPB) at the end of the second quarter. Rocket originated $42.3 billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

JULY 21, 2022

With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples.

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Bankruptcy Banks Pre-approval Principal 418

Housing Wire

MARCH 27, 2024

An official from the VA previously told HousingWire that the department is working closely with the Department of Justice (DOJ) to determine any potential implications for veteran borrowers and is committed to ensuring that veterans are neither disadvantaged in the homebuying process nor overcharged.

VA loan 476

VA loan Loans Principal Mortgages 476

Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. This deal is also accompanied by seller-provided financing, and it is accretive to both earnings per share and cash. The company intends to issue $51.7 An inquiry to Waterfall was not immediately returned. “We

Mortgages 434

Mortgages Equity Principal Finance 434

Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

Finance 448

Finance Residential Principal Development 448

Housing Wire

AUGUST 4, 2022

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The loan must be secured by a principal residence. The change could give nonbank lenders a way to guard against redlining accusations. Fannie Mae did not respond to a request to comment.

Loans 508

Loans Principal Banks Closing costs 508

Housing Wire

MAY 10, 2023

Mr Cooper also estimates a tangible book value increase of about $1 per share at closing. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. “The The deal is subject to customary closing conditions and regulatory approvals, the companies said. Mr. Cooper had 4.1 billion in 2022, a 71.6%

Equity 418

Equity Principal Loans Mortgages 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. One expert in the MSR sector, who asked not to be named, said the bidding for the offering appears to have closed in late February or early March. to 5.25.

Principal 448

Principal Loans Banks Mortgages 448

Housing Wire

JANUARY 8, 2021

This year, eClosings surged as remote online notarization became more popular and consumers looked for alternative ways to close on a home. Moving forward, the Mortgage Industry Standards Maintenance Organization , a not-for-profit subsidiary of the Mortgage Bankers Association , will continue to focus on digital closings.

Development 482

Development Technology Industrial Principal 482

Housing Wire

SEPTEMBER 17, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later.

Commercial 432

Commercial Finance Branding Principal 432

Housing Wire

JULY 26, 2024

Coinciding with the effective date for a previously announced reverse stock split, the price for shares of leading reverse mortgage lender Finance of America (FOA) stood well above the minimum threshold the New York Stock Exchange (NYSE) requires to maintain trading activity. at the end of trading on Thursday to $7.19

Principal 447

Principal Finance Investor Mortgages 447

Housing Wire

OCTOBER 12, 2021

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. Additionally, the lawsuit claims that PNC’s practices violated the Maryland Consumer Protection Act (MCPA).

Banks 397

Banks Principal Loans Lending 397

Housing Wire

JUNE 28, 2022

Kiavi , formerly LendingHome , recently closed a $218 million private-label securitization of unrated short-term mortgages — described as “residential transition loans” (RTLs) by the lender, which serves the fix-and-flip market. billion in originations, up nearly 78% from 2020, according to a recent report by Inside Mortgage Finance (IMF).

Investor 393

Investor Principal Loans Lending 393

Housing Wire

JANUARY 4, 2024

Amid an already challenging operating environment observed throughout 2023, both HECM endorsement volume and HECM-backed Securities (HMBS) issuance closed out the year on a low note, with both metrics falling lower from the month before, according to data from RMI and New View Advisors. HMBS issuance in 2023 came out to $6.5

Mortgages 476

Mortgages Bankruptcy Principal Industrial 476

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 476

Technology Title Development Lending 476

Housing Wire

APRIL 6, 2022

An announcement by the Federal Housing Finance Agency on Wednesday notified servicers that they must halt foreclosure activities for up to 60 days if a borrower with a GSE-backed mortgage applied for assistance from the Treasury’s Homeowner Assistance Fund (HAF). Under the American Rescue Plan Act of 2021, HAF provides close to $9.96

Homeowner’s association 397

Homeowner’s association Principal Mortgages Finance 397

Housing Wire

MAY 4, 2023

“We believe this engagement will help grow our market share in purchase, as well as lower our client acquisition cost, meaningfully lift conversion from lead to close, increase retention and extend client lifetime value,” Brown added. The unpaid principal balance in its servicing book declined to $524.8 Rocket reported $8.1

Principal 418

Principal Closing costs Mortgages Closing 418

Housing Wire

APRIL 24, 2024

The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lender, and it is spearheaded by Ryan Schmidt, FAR’s vice president of partner engagement. With the right ambassador, that task is made simpler.

Mortgages 447

Mortgages Loan Officer Loans Principal 447

Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 million in fourth-quarter 2023.

Mortgages 448

Mortgages Marketing Equity Finance 448

Housing Wire

AUGUST 4, 2022

Hernandez will be joined by by Faith Schwartz, the CEO and founder of Housing Finance Strategies , a strategic advisory firm that serves banks, mortgage companies, nonprofits and fintech companies. million loans with an unpaid principal balance of more than $1.2

Principal 435

Principal Title Industrial Mortgages 435