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.

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Closing Principal Loans Finance 432

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 unpaid principal balance of the servicing portfolio increased 1.2% loanDepot shares closed at $1.84 per share on Tuesday, dropping 4.66% from the previous closing.

Closing 497

Closing Principal Lending Loans 497

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 391

Closing Principal Investor Residential 391

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. According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. primary mortgage servicer at the end of June, handling $166.7

Banks 435

Banks Closing Principal Residential 435

Housing Wire

JUNE 3, 2024

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

Closing 449

Closing Industrial Loans Principal 449

Housing Wire

FEBRUARY 24, 2023

before the door closes! Take a look at a few highlights from last year’s class of winners from both Rising Stars and RT Emerging Leaders or click here to see the full list.

Closing 395

Closing Principal Mortgages Marketing 395

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. Its refinance recapture rate in 2024 when including closed-end second-lien loans was 52%, up from 41% two years earlier. That marked a substantial turnaround from the $87.5

Loans 394

Loans Equity Principal Mortgages 394

Housing Wire

JANUARY 15, 2025

Home Experts Realty president and principal broker Clyde Corle believes the deal will have a strong impact on real estate in southwest Ohio. “Theyve built a brokerage that values its agents like family, and we are thrilled to welcome them into ours.

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Closing Brokerage Principal Agents 370

Housing Wire

MARCH 5, 2024

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. Conversely, when expected rates are lower at origination, borrowers are offered more principal.

Principal 458

Principal Mortgages Loans Equity 458

Housing Wire

DECEMBER 20, 2024

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. In late 2021, Mitchell was hired by the parent company of reverse LOS ReverseVision (RV) and Joe Langner, its leader at the time.

Mortgages 397

Mortgages Technology Principal Industrial 397

Housing Wire

FEBRUARY 2, 2021

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. In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae-backed loan as part of a pilot program. .

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Principal Closing Loans Mortgages 510

Housing Wire

NOVEMBER 14, 2024

To get a better idea of what investors might be most closely interested in with these results, along with the outlook for these companies and the industry, HousingWire ’s Reverse Mortgage Daily (RMD) sat down with UBS equity research analyst Douglas Harter. They also mentioned the proprietary product suite at their company as a bright spot.

Investor 369

Investor Mortgages Bankruptcy Equity 369

Housing Wire

MAY 10, 2024

Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs. This will now be changed, according to provisions of the law as analyzed by the committee.

Principal 435

Principal Mortgages Closing costs Closing 435

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 481

Principal Mortgages Finance Investor 481

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. There is a short-term (monthly) float of around 13 days between the average on-time payment of principal and interest to the day of remittance to the investor. The post MSR market closes June on $5.2B

Closing 369

Closing Marketing Loans 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 notes are backed by 659 mortgage loans with a total principal balance of approximately $168 million.

Investor 447

Investor Principal Mortgages Residential 447

Housing Wire

JUNE 4, 2024

RE/MAX will no longer have a principal operating officer and Smith’s responsibilities will be absorbed by other executives, the company disclosed Friday in a filing with the Securities and Exchange Commission ( SEC ). He noted that the average RE/MAX agent closed 11.8

Principal 485

Principal Brokerage Branding Investor 485

Housing Wire

JANUARY 21, 2025

On the flip side, transferring servicing removes direct access to these borrowers and closes the window into their mortgage activity. They also manage Principal and Interest (P&I) and Taxes and Insurance (T&I) advances and recoveries. Of course, customers arent the only ones that benefit from in-house servicing.

Mortgages 369

Mortgages Investor Loans Principal 369

Housing Wire

FEBRUARY 19, 2025

In the fourth quarter of 2024, Compass reported a 26% year-over-year increase in revenue and a 24% increase in closed transaction sides. Its agent count continues to rise sharply, as the number of principal agents grew from 14,683 at the end of 2023 to 17,752 at the end of 2024. While the firm’s revenue grew to $1.4

MLS 258

MLS Brokerage Principal Agents 258

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.

Agents 448

Agents Brokerage Purchase and sale agreement Commercial 448

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 337

Mortgages Loans Equity Principal 337

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. The company closed multiple RTL securitizations last year, including a $350 million transaction in the first quarter. It also launched a new construction financing product for builders.

Land 213

Land Investor Principal New Construction 213

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

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. Meanwhile, Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. that is payable semiannually. The senior notes are due on Aug.

Principal 482

Principal Banks Investor Mortgages 482

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

APRIL 7, 2022

The offering is comprised of 7,600 mortgages with total unpaid principal balance of $1.49 In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”. million; and pool 3, $367.4

Loans 370

Loans Sales Principal Due diligence 370

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 418

Loans FHA loan Principal Marketing 418

Housing Wire

DECEMBER 18, 2024

SUCCESS Real Estate in the Greater Boston area suddenly closed up shop this week. Over the weekend, broker-owner Steve Webster sent a note to his agents informing them that the brokerage was closing, according to a report by Boston 25 News. As the article notes, no one has been accused of a crime at this time.

Earnest money deposit 374

Earnest money deposit Principal Closing costs Brokerage 374

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 431

Principal Mortgages Lending Closing 431

Housing Wire

OCTOBER 13, 2023

The Connecticut-based Beinfield Team returned to Compass , the company announced on Tuesday. “This transition is all about securing the future success of my team,” Liz Beinfield, the team’s principal agent, said in a statement. They made the leap back to Compass in October.

Principal 459

Principal Brokerage Technology Agents 459

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 475

Investor Mortgages Banks Principal 475

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

JANUARY 16, 2025

Treasury Inflation-Protected Securities are designed to repay principal and interest of a bond investment but are adjusted to CPI. In other words, the market isnt buying what Jay and team are selling. The second chart represents the 2-and 5-Year TIPS. The hashed vertical line is September 18 th , the day the Fed began cutting the FFR.

Bankruptcy 370

Bankruptcy Land Mortgages Principal 370

Housing Wire

AUGUST 29, 2024

The monthly payment before the refinancing included principal, interest, taxes, and insurance, while the monthly payment after the transaction would include only principal and interest. According to mortgage tech platform Modex , the lender has produced $1.25 billion in mortgages over the last 12 months, more than 86% of which are V.A.

Principal 432

Principal Loans Loan Officer Mortgages 432

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. The lender closed the channel and laid off staffers earlier this year after incurring a $223 million loss in the second quarter.

Sales 456

Sales Mortgages Principal Equity 456

Housing Wire

SEPTEMBER 10, 2024

billion in unpaid principal balance (UPB) at the end of the second quarter. We are committed to $45 billion in unpaid principal balance, or about 150,000 new clients to our servicing portfolio, and these clients are prime candidates for recapture.” The lender has been retaining servicing rights since 2011. The company held $534.6

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

JULY 25, 2024

Right now, with the principal limit factors where they are, especially with younger borrowers (in their 60s to mid-70s), you run the numbers for people and they see that principal limit. Department of Housing and Urban Development ] need to look at this and find a way to bump up the principal limit factors.

Mortgages 431

Mortgages Principal Development Industrial 431