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. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million; and pool 3, $312.9

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

MAY 10, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $300 million unrated securitization of residential transition loans (RTLs), the company announced on Friday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 396

Closing Principal Investor Residential 396

Housing Wire

JUNE 3, 2024

And industry experts have pointed out that many ARM loans have reset — or will soon reset —at higher rates. They are closely watching the risks of defaults but don’t expect a scenario like the financial crisis of the late 2000s to unfold. million ARM loans in the lead-up to the Great Financial Crisis. million in May 2022.

Closing 457

Closing Industrial Loans Principal 457

Housing Wire

AUGUST 14, 2024

billion in unpaid principal balance (UPB). servicing business, expected to close in the first quarter of 2025, benefits the bank by reducing costs and lowering risk for its balance sheet. billion), and 26,500 agency and owned loans ($4.4 million loans, the companies said in an announcement of the deal.

Banks 435

Banks Closing Principal Residential 435

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 418

Loans FHA loan Principal Marketing 418

Housing Wire

NOVEMBER 11, 2021

With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.).

Loans 476

Loans Title Finance Lending 476

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). ” In a conference call with analysts, loanDepot executives said the company plans to fund the remaining wholesale pipeline of approximately $1 billion in loans by the end of October.

Closing 497

Closing Principal Lending Loans 497

Housing Wire

APRIL 7, 2022

Fannie Mae is marketing its 25th sale of reperforming loans since its first offering six years ago and its second sale so far in 2022. The offering is comprised of 7,600 mortgages with total unpaid principal balance of $1.49 The transaction involves three loan pools — with pool 1 composed of loans with about $603.5

Loans 370

Loans Sales Principal Due diligence 370

Housing Wire

JANUARY 21, 2025

This could negate any profit potential from increased loan volume. To combat this, lenders should retain their servicing rights to collect the maximum amount of revenue throughout the loan’s life. Effective loan servicing positions servicers as reliable advisors for the homeowner.

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. Bill Mitchell For the six months that Mitchell worked closely with RV, he described it as a good time and became far more familiar with the reverse mortgage industry.

Mortgages 397

Mortgages Technology Principal Industrial 397

Housing Wire

FEBRUARY 13, 2025

San Francisco-based private lender Kiavi announced on Thursday that it has secured $300 million in capital after another securitization of its residential transition loans (RTLs). The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans.

Land 259

Land Investor Principal New Construction 259

Housing Wire

FEBRUARY 4, 2025

It would provide notice of mortgagor’s right and responsibilities under reverse mortgage loans issued under the [HECM] program of the federal Department of Housing and Urban Development (HUD), and it would require every authorized lender in the state to provide copies of these summaries no less than five days before the closing of a HECM loan.

Mortgages 360

Mortgages Loans Equity Principal 360

Housing Wire

JUNE 14, 2022

Fannie Mae has chosen the winning bidder for its inaugural nonperforming loan sale of 2022, a deal involving 3,223 loans with an unpaid principal balance of $477.2 The nonperforming loans involved in the deal, dubbed FNMA 2022-NPL1 , were divided into two pools, with MCLP the winning bidder for both pools.

Loans 370

Loans Purchase and sale agreement Sales Principal 370

Housing Wire

FEBRUARY 2, 2021

Ginnie Mae announced its first guarantee of a mortgage-backed security backed by digital pools, or pools of loans that consist entirely of eNotes. The MBS were loans closed by Rocket Mortgage in December, are issued as of Jan. The total principal value of the digital pools came to about $24 million.

Principal 513

Principal Closing Loans Mortgages 513

Housing Wire

MARCH 5, 2024

With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Why are there two HECM interest rates used with HECM loans?

Principal 459

Principal Mortgages Loans Equity 459

Housing Wire

NOVEMBER 14, 2024

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. With several top 10 reverse mortgage lenders now active in some form within the U.S. In the case of FOA — the current industry leader — the earnings results were robust.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

NOVEMBER 9, 2022

Similarly, news broke this week revealing that independent mortgage bank (IMB) New American Funding had culled its employee ranks by 240 — followed by news that non-QM lender Athas Capital Group was closing its doors and laying off more than 200 employees. Charting the loan officer exit. Bureau of Labor Statistics data shows.

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

MAY 1, 2023

We’ve asked Phillip McCall, president and chief operating officer at ACES Quality Management , how lenders can keep up with new and upcoming regulations to maintain loan quality in this very competitive environment. Ensuring that creativity doesn’t compromise compliance takes serious research and constant QC system updating.

Loans 397

Loans Lending Technology Principal 397

Housing Wire

MARCH 22, 2022

MIAC) is in the market with two whole-loan offerings of nonperforming Ginnie Mae-insured mortgages that combined are valued at more than $1.2 The two deals involve nonperforming loans that are eligible for early buyouts (EBOs) from Ginnie Mae loan pools. The largest of the two EBO whole-loan offerings is valued at $1.1

Loans 369

Loans Marketing Principal Mortgages 369

Housing Wire

AUGUST 13, 2024

Kiavi , a San Francisco-based lender for residential real estate investors , announced on Tuesday the closing of a $400 million rated securitization of residential transition loans (RTLs) in an “oversubscribed” transaction. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Investor 448

Investor Principal Mortgages Residential 448

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

Loans 437

Loans Marketing Residential Due diligence 437

Housing Wire

JULY 1, 2022

The mortgage-servicing rights (MSR) market continued to defy gravity and remained upward bound as June came to a close. The portfolio is being offered by a mortgage company that originates loans with a concentration in California.”. The percentage of Fannie- and Freddie-backed loans in the package is split evenly by value — at 39.3%

Closing 370

Closing Marketing Loans Mortgages 370

Housing Wire

AUGUST 29, 2024

-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans , the parties announced on Thursday. home loans. home loan program.”

Principal 434

Principal Loans Loan Officer Mortgages 434

Housing Wire

OCTOBER 11, 2023

allows the company to improve its fee-based income as the deal includes the purchase of Specialized Loan Servicing LLC (SLS). “The The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 493

Principal Loans Finance Investor 493

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

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 418

Sales Principal Loans Banks 418

Housing Wire

OCTOBER 2, 2023

The deal includes the purchase of Specialized Loan Servicing LLC. 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. Computershare Loan Services was No. for about $720 million, the companies announced Monday.

Mortgages 435

Mortgages Loans Principal Finance 435

Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. 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.

Mortgages 434

Mortgages Equity Principal Loans 434

Housing Wire

MAY 8, 2024

mortgage lender Newrez , owned by asset manager Rithm Capital , is imposing a round of layoffs to its workforce following the acquisitions of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). The layoffs include mortgage professionals such as processors, underwriters and loan officers.

Loan Officer 448

Loan Officer Principal Loans Mortgages 448

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 476

VA loan Loans Principal Mortgages 476

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 billion in unpaid principal balance (UPB). primary mortgage servicer at the end of June, handling $166.7

Investor 476

Investor Mortgages Banks Principal 476

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . Unused funds at the time the borrower refinances go against their loan balance as a principal reduction.

Seller concession 529

Seller concession Mortgages Loan Officer Loans 529

Housing Wire

JULY 29, 2024

Under the program’s guidelines, the maximum loan amount is determined based on “80 percent of the FHA-determined value of the home,” Cohen said. The maximum loan amount is $150,000. It’s a first-lien position, so they pay off the first loan, if there is one.” The borrower receives a monthly payment.

Mortgages 448

Mortgages Principal Loans Industrial 448

Housing Wire

MARCH 10, 2022

Lakeview Loan Servicing , one of the nation’s largest issuers of Ginnie Mae securities, is making a play in the private-label securities market by sponsoring an offering backed by a pool of 2,192 Federal Housing Administration -guaranteed mortgages valued at $423.6 A fourth such transaction, a $370.7

Mortgages 396

Mortgages Principal Loans FHA loan 396

Housing Wire

APRIL 7, 2021

According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. We also fought to ensure loans in forbearance remained eligible for sale, providing certainty and removing marketplace risk. In less than 10 weeks, mortgage servicers successfully helped 4.3

Mortgages 504

Mortgages Principal Loans Finance 504

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.

Principal 448

Principal Loans Banks Mortgages 448