Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 352

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Housing Wire

JANUARY 17, 2024

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Yet staggeringly few are aware of its existence. What is reverse purchase financing?

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Finance Seller concession Loan Officer Loans 436

Housing Wire

FEBRUARY 1, 2024

As the principal limit has been increasing, the percentage of endorsements with an MCA over $417,000 has increased steadily since 2012.” Changes in financial markets, retirement needs, and long-term care needs will affect borrowers’ participation in the HECM program, how they use HECM loans, and the innovation in product design.

Mortgages 344

Mortgages Principal Loans Equity 344

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.”

Development 366

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Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 346

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Housing Wire

JUNE 26, 2024

The first is for up to $200 million in aggregate principal of senior secured first-lien notes due in 2026, while the second is for up to $150 million in aggregate principal of exchangeable senior first-lien notes due in 2029. This is the latest move undertaken by FOA to improve the financial posture of the company.

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Finance Principal Commercial Equity 306

Housing Wire

AUGUST 12, 2024

California -based HighTechLending , a top-10 lender in the reverse mortgage industry, recently announced that it was rebranding its wholesale channel to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

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Housing Wire

JULY 31, 2024

Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0.

Development 326

Development Principal Industrial Mortgages 326

Housing Wire

JULY 11, 2024

” Under the settlement terms, within six months, the foundation will establish the “Pathways to Success Scholarship Fund,” designed for aspiring appraisers to attend the Practical Applications of Real Estate Appraisal (PAREA) program, which is a way to fulfill their required experience.

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Housing Wire

JULY 3, 2024

In mid-June, an FOA filing with the SEC indicating that the company was preparing to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price. The company and noteholders agreed to “an exchange of any and all of the outstanding 2025 unsecured notes” into two new secured tranches.

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Principal Finance Equity Mortgages 289

Housing Wire

JULY 10, 2024

The first is for up to $200 million in aggregate principal of senior secured first-lien notes due in 2026 (with an option to extend it to 2027 if the company elects to do so), while the second is for up to $150 million in aggregate principal of exchangeable senior first-lien notes due in 2029.

Principal 350

Principal Finance Mortgages Equity 350

Housing Wire

SEPTEMBER 17, 2024

FOA also advised that any investors who participate could receive “a cash fee equal to 0.25% of the aggregate principal amount of outstanding 2025 unsecured notes that are exchanged,” according to the announcement. Anyone with potential interest in the agreement must signal their intent to participate by 5 p.m.

Commercial 315

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Housing Wire

JULY 7, 2021

The sale is expected to reduce Mr. Cooper’s overall servicing portfolio by $16 billion in unpaid principal balance (UPB), and will also decrease its balance sheet by approximately $5 billion in Home Equity Conversion Mortgage (HECM) servicing rights (MSRs) and other unspecified assets.

Sales 396

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Housing Wire

DECEMBER 13, 2024

Importantly, the association said that the recent development of Ginnie Maes new, complementary Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) product known as HMBS 2.0 is designed to enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement.

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Bankruptcy Loans Investor Banks 271

Housing Wire

APRIL 28, 2022

He added: “For Mr. Cooper, this kind of environment demonstrates the benefits of our balanced business model, which by design includes a much higher contribution from servicing than most of our peers.” ” In fact, Mr. Cooper had $96 million pretax operating income in the first quarter of 2022.

Principal 320

Principal Mortgages Equity Closing 320

HomeLight

DECEMBER 31, 2021

Homeowners with mortgages saw their home equity blossom 31% in 2021, according to a report from CoreLogic, a remarkable increase for such a short period of time. As you map out your plans for 2022, you may be thinking of ways to keep building more equity or use what you’ve recently acquired. What is home equity in simple terms?

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Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity.

Principal 87

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HomeLight

JULY 27, 2024

If you’re a homeowner aged 62 or older, you may have accumulated substantial equity in your home, potentially owning it outright. As everyday living costs increase, it’s understandable to consider using some of that equity to cover your daily expenses. Reverse mortgages are loans designed for seniors and retiring homeowners.

Mortgages 115

Mortgages Equity Principal Loans 115

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. trillion unpaid principal balance (UPB). Conversely, other companies seized the opportunity to expand their portfolios, securing the future right to get the inside track on refinancings when rates eventually drop.

Mortgages 358

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Housing Wire

SEPTEMBER 10, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. When something is seamlessly designed into the experience, you’re more likely to use it,” he said. Patrick Conroy, principal at Washington, D.C.-based

Title 223

Title Branding Principal Loans 223

Housing Wire

FEBRUARY 8, 2022

To Dana Dillard, principal advisor at Housing Finance Strategies and a 25-year mortgage industry veteran, the ghosting problem happens, among other reasons, because homeowners deny the reality or feel overwhelmed with their debts — especially if they lost a relative or friend due to COVID-19 or are unemployed for a while.

Loans 325

Loans Pre-approval Mortgages Principal 325

Realty Biz

SEPTEMBER 27, 2023

Your payment goes to principal and interest each month following an amortization schedule. A monthly mortgage payment includes principal, interest, and other fees such as property tax and private mortgage insurance (PMI). First-time home buyers may not understand that they only own the equity — not the home. Take this example.

Principal 112

Principal Staging Loans Equity 112

HomeLight

AUGUST 26, 2020

Use the equity in your home. The real estate market is always changing, and if your home has increased in value , you may want to consider refinancing and tap into the equity in your home. However, if you only have 10% equity, they’re likely to make a market analysis comparison to determine if an appraisal is necessary.”.

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HomeLight

JULY 25, 2024

Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Here are the main points: Short-term loan: Hard money loans are designed to be short-term, usually six months to a few years, unlike a 30-year mortgage.

Hard money loan 115

Hard money loan Home sale contingency Loans Investor 115

HomeLight

JULY 30, 2024

Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Potential for interest-only payments: Some lenders offer interest-only payments during the loan term, with the principal due at the end.

Hard money loan 115

Hard money loan Home sale contingency Loans Investor 115

HomeLight

AUGUST 28, 2024

Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

Finance 116

Finance Hard money loan Home sale contingency Loans 116

HomeLight

AUGUST 27, 2024

Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. This makes it important for borrowers to fully understand the terms and costs before moving forward.

Hard money loan 115

Hard money loan Loans Home sale contingency Investor 115

HomeLight

AUGUST 28, 2024

Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

Hard money loan 110

Hard money loan Home sale contingency Loans Finance 110

Norada Real Estate

FEBRUARY 7, 2023

A reverse mortgage (or home equity conversion, as it is sometimes called) involves selling the equity in a home while retaining the right to live in that home until death (a life estate). It turns a home's equity into regular cash payments. Reverse mortgages work like traditional mortgages, only in reverse.

Mortgages 95

Mortgages Equity Loans Principal 95

RIS Media

APRIL 28, 2022

You will have to make monthly payments that will include principal and interest. This can be a good option if you don’t have a significant amount of home equity and can’t qualify for a home equity loan or home equity line of credit. . Even if you do have a lot of equity, you might prefer to take out a personal loan.

Loans 81

Loans Equity Principal Finance 81

HomeLight

OCTOBER 24, 2022

Upgrading your countertops not only transforms your kitchen’s design, but also boosts your home value. Top real estate Douglas Huebner , who specializes in buyer-focused renovations as the CEO and principal designer of The Habitatilist in Newark, NJ, details an easy makeover: “A minor remodel could be something easy for a homeowner to do.

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Renovation Loans Equity Design 124

RIS Media

AUGUST 19, 2021

Many affluent and high-net-worth individuals own their own business, earn bonuses or commission, get paid in equity, pay taxes in multiple states or some even earn income in other non-traditional streams. Click here to learn more about what it’s like to become a member and what’s required to eventually earn your designation.

Design 98

Design Principal Equity Mortgages 98

Realtor.com

APRIL 26, 2021

People refinance for many reasons—namely to save money or tap in to their home equity—but whether this decision is in your interests depends on your own personal circumstances. The relief program is designed to help people who are underwater by offering more affordable mortgages with lower monthly payments. But is a refi right for you?

Mortgages 109

Mortgages Fixed-rate mortgage Loans Equity 109

HomeLight

JUNE 30, 2021

In that time, the market has gone up and up and up — and now you have substantial equity in that property. This type of loan is most typically for homeowners ages 62 or older who have substantial equity in their home. And that can whittle down equity fast. You’re 65 years old, and you’ve been in your home for 25 years.

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Mortgages Equity Loans As-is 105

HomeLight

OCTOBER 11, 2021

In addition to your mortgage loan interest and principal, lenders also collect money each month that they put into escrow to pay your homeowners insurance. You also can’t drop FHA mortgage insurance when you reach 20% equity like you can with a conventional loan. At 22% equity, the mortgage insurance automatically drops off.

FHA loan 104

FHA loan Loans Debt-to-income ratio Closing costs 104

Realty Biz

NOVEMBER 7, 2022

A reverse mortgage is a home loan designed to financially support borrowers who are 62 and older. In this type of home loan, the homeowner (or homeowners, if it is owned jointly) surrenders equity in their home without having to sell their home or pay additional mortgage payments — but specific rules apply. What is a Reverse Mortgage?

Mortgages 105

Mortgages Loans Principal Equity 105

HomeLight

JUNE 30, 2021

Principal and interest. The majority of your mortgage payment will go toward principal and interest. The principal is the amount of money you’ve borrowed, while interest is essentially the fee you pay in order to borrow that money. Over the life of the loan, this shifts to more of your payments being allocated to your principal.

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Mortgages Principal Loans Homeowner’s association 80