Housing Wire

OCTOBER 25, 2024

Mortgage technology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. Loan details needing attention are routed to a professional for a better borrower experience.

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Loans Investor Closing Lending 434

Housing Wire

MARCH 4, 2025

The pace of home sales remains near a 30-year low point as home prices and mortgage rates keep potential borrowers in wait-and-see mode. But mortgage rates have posted an unusually large decline in the past week. Mortgage pricing should be down a tad today, he said. This would be a clear headwind to any further rate cuts.

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Mortgages Sales Finance Closing 481

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash. Finance a loan, and you may lose money.

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Loans Mortgages Equity Construction 321

Housing Wire

MARCH 5, 2025

The newest weekly mortgage applications survey data, released Wednesday by the Mortgage Bankers Association (MBA) included the lowest mortgage rates in months, which created a stir in the number of applications. On-the-ground observations Loan officers say they’re seeing an increase in government loan demand.

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Loan Officer Loans VA loan FHA loan 297

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. The interest rate on the loan has been lowered from 9.99% to 9.49%. The interest rate on the loan has been lowered from 9.99% to 9.49%.

Mortgages 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

MARCH 14, 2025

The mortgage professional of the future goes beyond the transaction. Our mortgage industry is experiencing a fundamental shift. Traditional loan officers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators.

Mortgages 358

Mortgages Loan Officer Marketing Loans 358

Housing Wire

FEBRUARY 3, 2025

There is constant movement in the mortgage industry with the desire for growth and expansion. It is easy to become blinded by the end goal of increasing loan volume and quality origination talent. Thus, it has never been more important to focus on due diligence in analyzing a mortgage industry acquisition target.

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Due diligence Purchase and sale agreement Industrial Mortgages 418

Housing Wire

JANUARY 3, 2025

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.

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Mortgages Lending Loan Officer Loans 418

Housing Wire

JANUARY 10, 2025

Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.

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Industrial Mortgages Loans Finance 396

Housing Wire

JANUARY 24, 2025

There were a total of 298 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2024 that were related to the reverse mortgage industry, according to a database maintained by the bureau. About 13% of all complaints were related to applying for a loan or refinancing an existing one.

Mortgages 417

Mortgages Bankruptcy Short sale Loans 417

Housing Wire

NOVEMBER 13, 2024

Founder and CEO Vishal Garg made a eye-popping statement when he opined that “in the next 10 years, 99% of the (mortgage) tasks will be completed by bots and 1% by humans.” “The bulk of the tasks that are required to process a mortgage are going to be performed by AI bots over the next 10 years,” Garg said in an interview with HousingWire.

Mortgages 370

Mortgages Loan Officer Loans Technology 370

Housing Wire

JANUARY 8, 2025

California -based direct lender AmeriTrust Mortgage announced a new addition to its leadership team. The company welcomed veteran mortgage executive Jett Farrington this week as its new chief operating officer. billion in loans in 2024, according to an Instagram post on the company’s website.

Mortgages 397

Mortgages Loans Industrial Banks 397

Housing Wire

FEBRUARY 3, 2025

The Tech100 Mortgage award recognizes the most innovative and impactful organizations driving the mortgage industry forward. More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending.

Mortgages 416

Mortgages Title Lending Loans 416

Housing Wire

NOVEMBER 26, 2024

In honor of the 2025 Tech100 nomination season, HousingWire asked leaders from last year’s Tech100-winning companies including Flueid , Vesta , Gridbase and MyHome, a Williston Financial Group Company to share some examples of how their technology has helped transform a traditional real estate and mortgage process.

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Title Mortgages Title search Bankruptcy 370

Housing Wire

FEBRUARY 13, 2025

Reverse mortgages were included in the assessment alongside options like Medicaid, Medicare, health savings accounts (HSAs), veterans benefits, LTC insurance and home equity loans. The reverse mortgage industry has aimed in recent years to position itself as a potential avenue to fund LTC directly or pay for LTC insurance.

Mortgages 352

Mortgages Equity Loans Closing costs 352

Housing Wire

NOVEMBER 21, 2024

Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.

Mortgages 370

Mortgages Loan Officer Equity Lending 370

Housing Wire

OCTOBER 25, 2024

Minneapolis -based mortgage lender Luminate Home Loans has decided to shutter its NEO Home Loans division, which transitioned to the firm two years ago, the company announced on Friday. The expectation is that NEO will close by the end of February 2025. The team was previously part of Celebrity Home Loans. “We

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Loans Closing Banks Lending 435

Housing Wire

NOVEMBER 4, 2024

With mortgage rates back into the 7% range and several consecutive weeks of reduced demand , Rocket Mortgage is making what appears to be a volume play. A company spokesperson confirmed that the credit can be used for both purchases and refinances on conventional, VA and FHA loans. 12 third quarter earnings report.

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FHA loan Mortgages Marketing Loans 370

Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. Many sellers are offering to cover 2-3% of closing costs.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

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

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Closing Mortgages Equity Loans 529

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.

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Purchase and sale agreement Pre-approval Brokerage Equity 482

Housing Wire

DECEMBER 20, 2024

The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? Four months later, the branch was still struggling, and worse, my top loan officer now the branch manager quit.

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Industrial Loan Officer Mortgages Loans 394

Housing Wire

DECEMBER 27, 2024

Reverse mortgage business and mortgage business generally is not where people want it to be. That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. But we’ve continued to work through those challenges.

Industrial 397

Industrial Mortgages Principal Lending 397

Housing Wire

JANUARY 21, 2025

After years of high interest rates, and price spikes, mortgage lenders are optimistic heading into 2025. Fannie Mae predicts a 28% increase in mortgage originations to $2.1 The Mortgage Bankers Association (MBA) also predicts that total origination volume will increase by 28.5%

Mortgages 370

Mortgages Investor Loans Principal 370

Housing Wire

DECEMBER 20, 2024

At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. Getting the hang of reverse Mitchell is a 25-year veteran of the mortgage technology space, primarily working for LOS companies. What does the future hold?

Mortgages 397

Mortgages Technology Principal Industrial 397

Housing Wire

FEBRUARY 13, 2025

The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. ACES releases a quarterly report that uses post-closing quality control data that’s derived from the company’s benchmarking system.

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Debt-to-income ratio Mortgages FHA loan Loans 284

Housing Wire

JANUARY 17, 2025

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. The terms of the deal have not been disclosed but it is expected to close by the end of March 2025. billion in loans during this period, up 37.5% year over year.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

OCTOBER 18, 2024

In this week’s episode of the Power House podcast , HousingWire President Diego Sanchez speaks with Steve Jacobson, CEO of Fairway Independent Mortgage Corp. The duo also discusses Fairway’s status as a top 15 mortgage lender even after its decision to leave the wholesale channel. As consumers, we expect instant everything.

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As-is Loan Officer Loans Mortgages 448

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

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Loans Mortgages Due diligence Banks 468

Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. “Every single loan officer has been paid per their compensation agreement. In June, the U.S.

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Closing Mortgages Loan Officer Loans 459

Housing Wire

JANUARY 17, 2025

In a changing real estate market , mortgage lenders face increasing demand. If high mortgage rates and increased liquidity management arent challenging, then regulatory changes, operation inefficiencies, and economic uncertainty are enough. This occurs while they manage the heavy loan of growing origination demand.

Marketing 367

Marketing Residential Commercial Loans 367

Housing Wire

JANUARY 27, 2025

Consumers who chose to take out a cash-out refinance largely used the loans proceeds for paying down existing debts, with notable impacts on credit card and auto loan balances as well as credit utilization rates. One source of debt that was not heavily impacted, according to the data, were student loan balances.

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Loans Closing costs Mortgages Closing 368

Housing Wire

FEBRUARY 4, 2025

A bill introduced in January to the New York state Senate is seeking to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product, as well as the obligations that a borrower assumes when engaging with the industry.

Mortgages 352

Mortgages Loans Equity Principal 352

Housing Wire

JANUARY 12, 2025

During the 10-minute conversation, Pieklo explores his new focus on developing AFR’s wholesale lending strategy, the competitive landscape of the mortgage market, and the company’s unique approach to differentiating itself from other big names in the wholesale space. They didn’t really get into “vanilla loans.”

Mortgages 304

Mortgages Marketing Lending Loans 304

Housing Wire

JANUARY 23, 2025

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. The Federal Housing Finance Agency had previously estimated that the pilot could save consumers between $500 and $1,500 per transaction.

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Title Land Loans Closing costs 468

Housing Wire

MARCH 5, 2025

1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage , the company announced Tuesday. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. 1 mortgage company in America. Shant Banosian, ranked the No.

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Loan Officer Loans Technology Mortgages 435

Housing Wire

NOVEMBER 14, 2024

With several top 10 reverse mortgage lenders now active in some form within the U.S. Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable.

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Investor Mortgages Bankruptcy Equity 370