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

NOVEMBER 9, 2023

Redwood Trust and home equity fintech lender Point have closed on a $139 million bond secured by 1,577 home equity investment (HEI) contracts. While Americans sit on approximately $32 trillion in home equity , only 50% of homeowners can tap into that wealth. Nomura Securities International Inc.

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Housing Wire

JUNE 28, 2024

a provider of shared equity financing products, announced Thursday that it hired Paul Giangrande as a corporate executive vice president and president of its mortgage division. We are honored to have him lead our expanding mortgage financing efforts,” David Shapiro, EquiFi’s CEO and founder, said in a statement.

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Housing Wire

MAY 15, 2024

As of now, the agency’s proposal calls for keeping the CES loans in portfolio for six to nine months until it can develop a system for issuing second-mortgage guaranteed securities against the loans, which would carry 20-year fixed-rate terms. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

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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

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? Top brass at Fannie Mae, in a Thursday webinar discussing its new equitable housing finance plans, argued it can. More than 40% of those borrowers are Black or Latino, he added.

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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.” To get a better idea of the potential impact that HMBS 2.0 I do think [HMBS 2.0]

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Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

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Housing Wire

NOVEMBER 8, 2021

Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company. While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex.

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Finance Mortgages Lending Equity 396

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

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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

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

FEBRUARY 22, 2023

This means ensuring our work is not limited by department or business unit silos, and that we continue to grow the core case for aligned business outcomes and impact at scale — including driving racial equity, housing stability and climate resilience.” You cannot address climate risk without addressing systemic and pervasive equity issues.

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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

DECEMBER 11, 2024

Department of Housing and Urban Development (HUD)s Office of Policy Development and Research recently published a report that more closely examines the housing needs of older Americans and the pain points that have exacerbated their needs stemming from a national housing crisis. population, on housing demand, according to the report.

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Housing Wire

AUGUST 29, 2024

In 2020, a colleague approached her about establishing a Phoenix-based chapter of Women in Insurance and Financial Services (WIFS), an association of financial services professionals who aim to “attract, develop and advance women in an underrepresented profession,” according to the WIFS National website. What can we do with this?’

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Housing Wire

AUGUST 14, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck.

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Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. That’s all it says.”

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Housing Wire

DECEMBER 18, 2020

With LIBOR slated to be phased out at the end of 2021 , industry trade group Structured Finance Association sent a letter this week to New York Gov. Andrew Cuomo and the state’s legislative leaders asking them to support Secured Overnight Financing Rate (SOFR) index as the standardized benchmark rate. dollar LIBOR.

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Finance Loans Mortgages Equity 363

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

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Finance Equity Mortgages Principal 370

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

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Housing Wire

FEBRUARY 7, 2024

mortgage finance system. The GSEs should “increase certain loan purchases” in Duty to Serve markets; develop new and accessible loan products and programs; and evaluate new business partnership opportunities. Better loan products to serve “high-needs rural regions” should also be developed.

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Housing Wire

MAY 30, 2024

Home equity fintech lender Point , in collaboration with its long-time financing partner Atalaya Capital Management , has successfully closed a $141 million rated asset-backed securities transaction. Point originated all of the home equity investments (HEIs) involved in the securitization and will continue to service the assets.

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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. Things take longer to develop, but the relationships are also typically stickier. Nunes: Redwood also launched a home equity platform.

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Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

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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

JULY 14, 2022

As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. Older Americans are sitting on a record $10 trillion in home equity.

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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.

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Mortgages Finance Lending Equity 459

Housing Wire

APRIL 25, 2024

Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering by HousingWire on Monday, April 21, 2024. We believe there’s a significant opportunity to bring home equity for retirement into the mainstream.” Obviously, it’s hard to move right now, but people do have a lot of equity,” she said. “So,

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Mortgages Finance Equity Lending 430

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 24, 2024

Our latest research report , developed in partnership with Longbridge Financial , equips you with the knowledge to navigate this growing market and serve your clients effectively. With an unprecedented wave of retirements—over 4.1

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Equity Finance Mortgages Development 435

Housing Wire

NOVEMBER 26, 2024

That’s up $59,925 from the current limit of $1,149,825 for Home Equity Conversion Mortgages (HECMs), which equates to an increase of roughly 5%. The Federal Housing Finance Agency (FHFA) on Tuesday announced that conforming limits will increase to $806,500 in 2025. This is a developing story. compared to third-quarter 2023. .

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Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. It’s the ninth straight year that the limit will increase based on home-price appreciation levels, which feeds into a single, national limit for all HECM loans.

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Mortgages Equity Lending Loans 397

Housing Wire

JULY 8, 2024

Global asset manager Bain Capital announced Monday that it has acquired a controlling stake in Archwest Capital , a California -based company that offers financing to residential real estate investors. Archwest provides business-purpose financing for single-family and multifamily homes, as well as mixed-use and commercial properties.

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Housing Wire

APRIL 12, 2022

To help the lowest-income families, who increasingly can’t find affordable housing in today’s market, federal, state, and local governments devote considerable resources to subsidize the development of affordable housing with below market rents. This creates a disjointed system where policies overlap and can be redundant.

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Housing Wire

AUGUST 13, 2024

Influential housing nonprofit Enterprise Community Partners this week submitted a comment letter to the Federal Housing Finance Agency (FHFA) regarding the Duty to Serve (DTS) plans submitted by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

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Housing Wire

MAY 30, 2024

Ginnie Mae is aiming to roll out plans for its new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product by the end of the year, according to acting president Sam Valverde, who spoke at the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in Washington, D.C., on Wednesday.

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