Housing Wire

JUNE 28, 2024

The Federal Housing Finance Agency (FHFA) on Thursday named the inaugural members of its newly created advisory committee on affordable, equitable and sustainable housing. Stacie Young, president and CEO, Community Investment Corp.

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Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance. million in fourth-quarter 2023.

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Housing Wire

AUGUST 27, 2024

Department of Housing and Urban Development (HUD). The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months).

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Housing Wire

APRIL 21, 2022

Perry said that despite statements from banking regulatory agencies, the Federal Housing Finance Agency , the Department of Housing and Urban Development and the Consumer Financial Protection Bureau to reassure lenders that targeted lending programs do not violate fair lending laws, mortgage lenders remain hesitant.

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Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

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Housing Wire

JULY 8, 2024

” Jobs were cut across the company, including activities related to application, customer support, quality assurance, and software development, among others. year over year, according to Inside Mortgage Finance (IMF) estimates. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March.

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Housing Wire

JULY 31, 2024

Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the construction of affordable housing in the U.S. Beyond HUD, the university and the city of Nome, other partners include the Alaska Housing Finance Corp. ,

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Housing Wire

FEBRUARY 6, 2023

He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. billion and injected $925 million into UWM to develop new technology and grow the broker channel. UWM originated $128 billion in 2022, per Inside Mortgage Finance estimates. Forrester served as UWM’s CFO for 10 years.

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Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

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Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. In a flash, millions of Americans lost their jobs and incomes.

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Housing Wire

NOVEMBER 10, 2020

Several state-level real estate initiatives and urban development policies were voted on in the Nov. The “yes” vote also means that inherited homes not used as principal residences may be reassessed at market value when transferred. People 55 years or older with disabilities can also transfer their tax assessments.

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Housing Wire

OCTOBER 24, 2024

Mutual of Omaha approved brokers and principal agents will have access to five core protections, including a promise that the lender “will not solicit borrowers established within the broker network.” We see this program as a way to show our broker and principal agent partners that we are aligned with their success.”

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Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

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Housing Wire

JANUARY 12, 2024

As a marketer by profession, I tend to put these companies into categories to create a narrative and to develop brand specificity. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes. Principal among these are: Invested capital “requires” the highest return.

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Housing Wire

APRIL 21, 2022

Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Cooper Group Inc.,

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Housing Wire

NOVEMBER 16, 2023

Department of the Treasury have agreed to settle a lawsuit in which the lender claims “flawed analysis and mathematical errors” led to its decertification as a Community Development Financial Institution (CDFI). But at least 60% of a lender’s financing must target these borrowers.

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Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Congressman Blaine Luetkemeyer, assistant secretary for policy development and research with the U.S.

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Housing Wire

MARCH 27, 2024

VA borrowers will be the hardest hit if they have to shoulder buyer-side commissions, said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “VA They’re 100% financing, they don’t require a downpayment and the guidelines are tilted toward helping the [borrower] get in the home,” Overfelt said. “I

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Housing Wire

DECEMBER 1, 2023

Department of Housing and Urban Development (HUD) on Friday published a proposal that would require public housing agencies (PHA) to provide 30 days’ notice before filing an eviction notice in court for nonpayment of rent.

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Housing Wire

MAY 31, 2021

Senate Finance Committee. His list of accomplishments includes being the principal drafter of the mortgage forbearance program enacted through the CARES Act, which reshaped the mortgage industry and enabled more than 4 million homeowners to hit the pause button on their mortgage.

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Housing Wire

JULY 26, 2023

Department of Housing and Urban Development (HUD) this week announced a new notice of funding opportunity (NOFO) to examine the intricacies of converting office space into residential living units. I have a name for the buildup of that stuff,” said Phil Wharton, a New York-based developer to the Times. “I I call it the kludge.”

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Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. These clients are typically low on funds, which is why they need this type of financing. It would be a disaster for FHA and VA homebuyers,” Evan Potter, branch production manager at Revolution Mortgage.

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Housing Wire

NOVEMBER 3, 2023

Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI). The CDFI certification is a designation given by the Treasury Department CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing.

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Lending Principal Finance Loans 435

Housing Wire

AUGUST 4, 2022

According to Fannie Mae’s guidance , “The lender must have a documented program that provides grants for low- to moderate-income borrowers, community development, equitable housing initiatives, or similar initiatives.” The loan must be secured by a principal residence. Fannie Mae did not respond to a request to comment.

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Housing Wire

JANUARY 8, 2021

1, he served as the assistant secretary of policy development and research for the U.S. Department of Housing and Urban Development and as the principal executive vice president of Ginnie Mae. USB drive developed from standards organizations. Before starting as president of MISMO on Dec. Telecommunication, same thing.

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Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 billion, according to a presale report by Kroll Bond Rating Agency (KBRA). billion for the $12.2

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Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

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Housing Wire

SEPTEMBER 17, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later.

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Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. This deal is also accompanied by seller-provided financing, and it is accretive to both earnings per share and cash. The company intends to issue $51.7 Onity became involved in reverse mortgage servicing with a $12.4

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Housing Wire

DECEMBER 8, 2023

Department of Housing and Urban Development (HUD) believes housing has a role to play in combating the opioid overdose epidemic. On Friday, HUD issued a joint letter co-written with the U.S. Housing can help fight the epidemic that killed an estimated 70,601 people in 2021, according to the National Institutes of Health (NIH), HUD said.

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Housing Wire

JUNE 2, 2022

The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021.

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Housing Wire

JULY 15, 2021

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. The company is currently licensed in 36 states and Washington D.C.,

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Principal Loans Equity Mortgages 397

Housing Wire

DECEMBER 13, 2024

The Mortgage Bankers Association (MBA) this week published a proposal for Ginnie Mae to develop a new mortgage securitization product that could boost the availability of private capital liquidity sources into the market, particularly in periods of stress for the U.S. could serve as a logistical template for such a product.

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Housing Wire

JUNE 5, 2024

billion in volume, has developed its technology in-house with “very few partners,” a method it used to “control the product,” Bressler said. according to Inside Mortgage Finance, with about $19 billion in production from January to March. . “The answer is: AI will not replace your job.

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Mortgages Loan Officer Technology Loans 458

Housing Wire

APRIL 24, 2024

Bray also reintroduced Pyro , Mr. Cooper’s patented mortgage-centric AI platform that the company has been developing since 2019 in partnership with Google. billion in unpaid principal balance (UPB). Barker’s hiring for the role of senior vice president of corporate finance is effective immediately. This included $1.4

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Housing Wire

JUNE 6, 2024

ADUs create new housing opportunities in existing neighborhoods, expanding the housing supply while building homeowner equity,” David Driskell, principal at CPC, said in a statement. The ADU Plans Gallery is the newest offering from CPC through ADUAccelerator.org , which offers services for local governments in the ADU development process.

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Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

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