Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Housing Wire

JANUARY 9, 2024

Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing. These will help on the margin, but we still need smart lenders to help create even more robust financing options for ADUs.

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Housing Wire

MAY 15, 2024

Credit-risk transfer vehicles “would be evaluated in subsequent phases,” according to an outline of the proposed Freddie CES plan issued by its governing body, the Federal Housing Finance Agency (FHFA). This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

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Housing Wire

FEBRUARY 6, 2025

Finance a loan, and you may lose money. Avoid financing, and you risk missing out on a sales growth opportunity. If that isnt spectacular enough, Deephaven offers interest-only options for maximum property cash flow alongside cash-out solutions to consolidate debt and unlock equity. Thats quite the jump in less than a month.

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Housing Wire

JUNE 20, 2024

Finance of America (FOA), the leading U.S. reverse mortgage lender, has received shareholder approval upon recommendation of its board to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price.

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Housing Wire

JANUARY 4, 2024

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. “If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” ” Molinsky told NextAvenue.

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Housing Wire

NOVEMBER 6, 2023

The use of artificial intelligence (AI) is poised to grow amid higher origination costs and greater competition, but without correcting the underlying causes of bias in data, AI models can embed racial equity inequality on a larger scale, a recent report from the Urban Institute concluded. “It

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Housing Wire

JUNE 26, 2024

Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), FOA was the No.

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Housing Wire

OCTOBER 29, 2021

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Seniors’ response to alternative equity tapping since COVID-19 onset. Eoin Matthews, CBO and co-founder of Point.

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Housing Wire

JANUARY 3, 2024

population grows older with each passing year, looking for new and novel ways to fund long-term care for the aging population could include home equity. As the gap between high- and low-income homeowners widens, the equity they’ve built up in their homes could make a difference in the equation. As the U.S.

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Housing Wire

AUGUST 29, 2024

The event had three segments: “creating,” “leveraging” and “securing” wealth through home equity. Over a three-hour period, each of the three sections was covered including the “securing your wealth” segment, where Hopkins was able to discuss the Home Equity Conversion Mortgage (HECM) program. What can we do with this?’

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Housing Wire

DECEMBER 9, 2024

These will ideally allow for the somewhat siloed reverse mortgage industry to more easily collaborate with others in the mortgage finance ecosystem. Because of that, more people in the industry have a better understanding of seniors unique challenges, which could necessitate more products designed for them.

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Housing Wire

SEPTEMBER 14, 2023

” Another opportunity is in the home equity space. Redwood launched in September its in-house home equity investment (HEI) origination platform called Aspire. Nunes: Redwood also launched a home equity platform. For everybody else, unlocking that equity is even more expensive. What is the strategy here?

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Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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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.

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Housing Wire

JUNE 20, 2024

NFM loan officers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling. The product is designed to make buyer offers more attractive to sellers by removing contingencies. They become more competitive buyers and can flip the process to move on their own terms.”

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Housing Wire

JULY 17, 2024

Finance of America brand consolidation When Finance of America announced its intention to acquire then-industry leader American Advisors Group (AAG), the reverse mortgage industry initially reacted with cautious optimism. So far this year, two lenders have made eye-opening moves in their approaches to reverse mortgage messaging.

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Housing Wire

OCTOBER 10, 2024

The Renovation Sells platform focuses on design and construction, while the loans come from HouseAmp. HouseAmp can secure financing of up to $400,000, and the company boasts that it can keep home sellers out of the process of securing a home equity line of credit.

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Housing Wire

APRIL 18, 2024

The Federal Housing Finance Agency (FHFA) this week released its annual Housing Mission Report , offering insights into the actions the agency took in 2023 on a host of issues. These are designed to support homeownership efforts for borrowers in underserved communities. The GSEs also “invested over $1.7

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Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Mortgages 458

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Housing Wire

MAY 23, 2024

But they have also accumulated a good amount of equity over the last few years. How do we allow them to extract equity out of their house in a responsible way?“ On Wednesday, the Federal Housing Finance Agency (FHFA) closed the comment period for the proposal , which was opened in April. DeMarco said in the letter.

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Equity Closing Mortgages Lending 458

Housing Wire

AUGUST 6, 2024

A policy designed for lenders to review and respond to borrower-initiated reconsideration of value (ROV) requests for appraisals — originally scheduled to be implemented between Aug. 29 and Sept. 2 — has been pushed back to Oct. The policy — announced in May by the U.S.

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Housing Wire

JANUARY 31, 2024

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. I once did a 30-year mortgage for a 97-year-old woman,” Michael Becker, branch manager at Sierra Pacific Mortgage in Lutherville, Maryland, told Bankrate. So she was approved.”

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Mortgages Equity Finance Design 435

Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. for $100 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

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Housing Wire

SEPTEMBER 14, 2021

Point, a shared equity reverse mortgage firm that gives homeowners the ability to sell a small fraction of their equity, recently announced that it has raised over $1 billion in new capital commitments from real estate and mortgage-backed securities (MBS) investors. Redwood is excited to partner with Point.”.

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Equity Mortgages Finance Industrial 234

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 445

Mortgages Marketing Equity Finance 445

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. These funds can be utilized to consolidate debts or finance home improvement projects. The Loan Store, Inc.

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Housing Wire

MARCH 22, 2021

million multifamily units we helped finance, and that protection is ongoing for nearly 100,000 families as a result of our multifamily forbearance program.”. HousingWire’s virtual demo days are designed specifically to help mortgage industry decision makers identify the technology solutions they need to operate efficiently and securely.

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Housing Wire

JUNE 13, 2024

Plano, Texas-based Finance of America (FOA), currently the industry leader in the reverse mortgage space, and Paramus, New Jersey-based reverse mortgage lender and servicer Longbridge Financial will be sponsoring the event.

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Mortgages Finance Equity Industrial 468

Housing Wire

JUNE 21, 2024

The Federal Housing Finance Agency (FHFA) on Friday announced that it has given conditional approval for Freddie Mac to begin purchasing closed-end second mortgages through a pilot program. But they have also accumulated a good amount of equity over the last few years. Six out of 10 borrowers are below a 4% mortgage rate.

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Mortgages Equity Closing Loans 459

Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” I do think [HMBS 2.0]

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Development Industrial Mortgages Fixed-rate mortgage 458

Housing Wire

FEBRUARY 8, 2024

This is according to Steve Resch, vice president of retirement strategies at Finance of America Reverse (FAR), in a new column published by The Street. “[C]omparing The standard protocol for accessing equity has been to sell the property,” Resch said.

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Equity Finance Loans Mortgages 448

Housing Wire

JANUARY 5, 2023

The Federal Housing Finance Agency (FHFA) raised the baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac to $726,000 in November, an increase of 12.21% compared to 2022. RMBS at DBRS Morningstar said in a report.

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Housing Wire

SEPTEMBER 8, 2022

The entire system has to be designed to inflate the price over time. For the traditional homeowner who bought a home many years ago and has seen their nested equity position explode higher, this isn’t much of an issue. So, not only do we have 40% plus of homes with no mortgage, the nested equity homeowners have now is almost unfair.

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Housing Wire

MARCH 24, 2021

Pacaso , a company founded by former Zillow executives that is focused on second-home ownership, announced Wednesday they raised $75 million in venture capital financing. The company connects consumers with real estate agents, and Pacaso “sets up a professionally managed LLC uniquely designed for co-ownership,” the firm said.

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Finance Equity Investor Design 418

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. They are Vesta Equity , Oasis Pro Markets and Liquid Mortgage. To date, LoanSnap has originated about $7.3

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Housing Wire

FEBRUARY 1, 2023

Designed specifically with the end-user in mind, Servicing Digital helps servicers deliver an outstanding, convenient and modern customer experience, which enhances growth and retention.” And because the app provides them with relevant information, it can help reduce the volume of consumer calls for the servicer’s customer service center.

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