Housing Wire

DECEMBER 9, 2024

Department of Housing and Urban Development (HUD) on Monday announced the disbursement of $72.6 million in new funding under the Indian Community Development Block Grant (ICDBG) program, adding up to $2 million to 38 individual community recipients to bolster housing development , expansion and preservation.

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Housing Wire

MARCH 7, 2025

Department of Housing and Urban Development (HUD) is considering employing cryptocurrency and blockchain technology to monitor the employment of agency grants, which some staffers believe could be a trial run for wider deployment of the technology across the federal government. This is according to a report published Friday by ProPublica.

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Housing Wire

APRIL 1, 2025

These standout professionals all 40 years old or younger are driving innovation, transforming their organizations, and shaping the future of real estate, mortgage, and fintech. Each year, HousingWires Rising Stars award recognizes the next generation of leaders making a significant impact on the industry.

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Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).

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Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs. Why are there two HECM interest rates used with HECM loans?

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Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. “The Meanwhile, the company’s total revenues reached $314.6

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Housing Wire

JANUARY 10, 2025

Incenter Lender Services , a group of companies that help nonbank and depository mortgage lenders nationwide, announced this week the hiring of two new vice presidents. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.

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Housing Wire

JULY 25, 2024

Jim Cullen spent nearly 20 years in the reverse mortgage profession and recently decided that it was time to retire. Chris Clow/RMD: Jim, you were a real estate agent and then a forward mortgage professional before jumping into the reverse arena. I made the switch into reverse mortgages, quite honestly, not due to anything I initiated.

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Housing Wire

APRIL 7, 2021

While overall complaints were up 54% year-over-year, complaints against mortgage companies were up just 7.5%, and complaints against mortgage servicers were actually down, by 3.5%. These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry.

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Housing Wire

JANUARY 5, 2022

Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. 21 letter that a number of mortgage servicers employed by FHA-approved lenders failed to adequately implement loan modification options the FHA introduced in July.

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Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. Department of Housing and Urban Development (HUD) Handbooks.

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Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

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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.

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Housing Wire

JUNE 5, 2024

Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. ” Jason Bressler, executive vice president and chief technology officer at United Wholesale Mortgage (UWM), said. billion in mortgages in the period. .

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Housing Wire

AUGUST 13, 2024

Onity Group , parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage , will acquire reverse mortgage assets from Mortgage Assets Management, LLC (MAM), a subsidiary of investment funds managed by Waterfall Asset Management. Onity became involved in reverse mortgage servicing with a $12.4

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Mortgages Equity Principal Finance 434

Housing Wire

MARCH 10, 2022

Lakeview Loan Servicing , one of the nation’s largest issuers of Ginnie Mae securities, is making a play in the private-label securities market by sponsoring an offering backed by a pool of 2,192 Federal Housing Administration -guaranteed mortgages valued at $423.6 A fourth such transaction, a $370.7 Department of Agriculture.

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Mortgages Principal Loans FHA loan 395

Housing Wire

APRIL 24, 2024

HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected.

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Housing Wire

MARCH 25, 2024

California-based multichannel mortgage lender HighTechLending appointed reverse mortgage industry veteran Brian Boccia to serve as a senior account executive in its third-party origination (TPO) channel. He joins the company after prior experience at companies like Mutual of Omaha Mortgage and Reverse Mortgage Funding (RMF).

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Mortgages Principal As-is Sales 459

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

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Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

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Housing Wire

FEBRUARY 2, 2021

Ginnie Mae announced its first guarantee of a mortgage-backed security backed by digital pools, or pools of loans that consist entirely of eNotes. 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. “The

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Principal Closing Loans Mortgages 513

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development.

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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.” Department of Housing and Urban Development (HUD) set the HECM limit at $625,500, an increase from $417,000. in 2009 to about 12-14% during Fiscal Years 2010 through 2014. In 2009, the U.S.

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Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

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Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. million security backed by non-QM mortgages. among others.

Mortgages 397

Mortgages Principal Banks Equity 397

Housing Wire

JUNE 22, 2023

Mortgage rates declined again this week following the Federal Reserve ‘s recent pause on monetary tightening. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.67% as of June 22, down from last week’s 6.69%.

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Mortgages Principal Loans Residential 418

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan. This change triggered controversy.

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Housing Wire

FEBRUARY 21, 2024

Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration ’s (FHA) payment supplement partial claim. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae. million COVID-19 loss-mitigation actions.

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Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit.

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VA loan Principal Residential Loans 448

Housing Wire

MAY 13, 2024

Rocket Mortgage , the third largest U.S. mortgage lender, has entered into a conciliation agreement with the U.S. Department of Housing and Urban Development (HUD) to resolve allegations of discriminatory housing practices, the parties announced on Monday. billion in mortgages in Q1 2024. Rocket originated $20.2

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Housing Wire

AUGUST 26, 2024

When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. trillion unpaid principal balance (UPB). Cooper estimates it will hold about $132 billion in mortgages at 6% or higher once the acquisition is finalized.

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

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Mortgages Banks Land Equity 435

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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Technology Title Development Lending 476

Housing Wire

JANUARY 22, 2024

Rob’s unique background in mortgage includes extensive technology prowess with leading large servicing operations,” Ranieri added. Uniondale, New York-based Ranieri Solutions brought on Rob Lux as its CEO to spearhead the company’s go-to-market efforts for its cloud-native servicing platform.

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Technology Principal Commercial Loans 458

Housing Wire

NOVEMBER 13, 2024

Reverse mortgage educators Dan Hultquist and Jim McMinn brought their “Rules of the Game” presentation back to this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego. Wilson,” began McMinn to a hypothetical reverse mortgage customer. The whistle blew immediately.

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Equity Mortgages Principal Loans 370

Housing Wire

JULY 8, 2024

Top-five mortgage lender Newrez , owned by asset manager Rithm Capital , has imposed another round of layoffs affecting 265 employees in Colorado and Arizona, per documents sent to state authorities. billion in mortgages in first-quarter 2024, up 55.2% year over year, according to Inside Mortgage Finance (IMF) estimates.

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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 million single-family mortgages. billion for the $12.2

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