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

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

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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Investor Bankruptcy Finance Equity 448

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

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Marketing Equity Loans Bankruptcy 529

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

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Loans FHA loan Principal Finance 448

Housing Wire

JUNE 3, 2021

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. More than 11 million Americans are estimated to be behind on their rent, and minorities are at a higher risk for eviction than White renters, according to data from the Private Equity Stakeholder Project.

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Principal Finance Loans Equity 497

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

SEPTEMBER 3, 2024

Leaning on education Shannon Robinson Shannon Robinson, senior vice president of the reverse mortgage division at New American Funding (NAF), said the company remains committed to the prospect of borrower education regarding its full range of home equity products. This would go doubly in a more favorable rate environment.

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Mortgages Equity Finance Lending 468

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Annaly has $75 billion in assets invested across its agency mortgage-backed securities (MBS), residential credit and MSR strategies. billion as of June 30.

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Closing Principal Loans Finance 434

Housing Wire

APRIL 30, 2024

At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year. Chief financial officer Nick Santoro told analysts the company had a “strong momentum” on non-agency products and home equity. million in pretax income. This is not a race to get bigger.

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Mortgages Equity Principal Finance 468

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 An inquiry to Waterfall was not immediately returned. “The

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Mortgages Equity Principal Finance 434

Housing Wire

SEPTEMBER 6, 2023

According to Black Knight’s mortgage monitor report, the average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter.

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Equity Mortgages Principal Loans 435

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 448

Mortgages Marketing Equity Finance 448

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. On home equity , Boesel noted that home-price growth should pick up over the next year.

Mortgages 468

Mortgages Staging Equity Principal 468

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year.

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Equity Loans Residential Banks 370

Housing Wire

APRIL 24, 2024

Additionally, its return on tangible common equity rose to 14.5% The company has started the year with excellent momentum, including return on tangible common equity rising to 14.5%,” Chairman and CEO Jay Bray said in a statement. billion in unpaid principal balance (UPB). in Q1 2024, up from 12.5% in the fourth quarter of 2023.

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Equity Lending Principal Technology 415

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

MAY 10, 2023

In total, Mr. Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return on equity with an estimated 10% increase to operating earnings in the first year. million customers and $853 billion in unpaid principal balance (UPB) at the end of March. Mr. Cooper had 4.1

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Principal Equity Loans Mortgages 418

Housing Wire

MAY 3, 2022

Continued home price growth, which Fannie Mae predicts will decelerate from 19% year-over-year in 2021, to around 11% in 2022, increases borrowers equity. That increase can reduce the risk of loan impairment — since borrowers with more equity are less likely to default — and lead to new cash-out refis for even higher principal amounts.

Mortgages 397

Mortgages Marketing Equity Loans 397

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. The holding company will invest in finance, insurance, and real estate businesses. Since 2004, they claim to have created $4 billion in equity value to investors. Chicago-based mortgage originator Interfirst Mortgage Co.

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Mortgages Loan Officer Investor Loans 426

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.

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Banks Principal Finance Equity 418

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 459

Housing Wire

MARCH 2, 2021

The transaction is expected to provide up to $645 million in cash proceeds and a fully committed private investment in public equity (PIPE) of $300 million. Generally accepted accounting principal (GAAP) revenues are expected to be around $226.4 Up to $345 million of cash will be held in Capitol’s trust account. million in 2021.

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Title Equity Principal Branding 451

Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025.

Principal 448

Principal Finance Mortgages Equity 448

Housing Wire

OCTOBER 2, 2023

While the average unpaid principal balance of borrowers entering a refinance has fallen from $319K in early 2020 to $183K in August 2023, it is even lower ($165K) among cash-outs specifically. Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Mortgages 448

Mortgages Equity Lending Principal 448

Housing Wire

MAY 9, 2024

Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% Equity takeout” cases — meaning endorsements tied to borrowers who had no prior interactions with the reverse mortgage industry — also grew by 9.4%, while HECM for Purchase (H4P) endorsements grew by 18.3% HECM endorsements Overall, case numbers issued grew by 8.2%

Mortgages 417

Mortgages Finance Equity Principal 417

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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Commercial Finance Branding Principal 432

Housing Wire

OCTOBER 3, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell by 2.1% Equity takeout cases — or loans that are from first-time borrowers and not refinances — increased by 6.5% million of [unpaid principal balance] that may not otherwise have been issued in September,” New View explained. “[The Case numbers increased by 7.1%

Mortgages 448

Mortgages Loans Finance Equity 448

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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Banks Lending Loans Principal 516

Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

Finance 448

Finance Residential Principal Development 448

Keeping Current Matters

NOVEMBER 10, 2020

In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner: “…a primary home accounts for 90% of the total wealth of a family in the U.S.”. As home values increase and you make payments toward your home loan, you’ll gain wealth through equity. How do homeowners gain wealth?

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Equity Principal Finance Loans 345

Housing Wire

SEPTEMBER 16, 2022

Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest. In August and September, Rocket Mortgage and Rocket Pro TPO announced the offering of home equity loans to capitalize on record home equity levels.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Mortgages 459

Mortgages Loans Equity Principal 459

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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Technology Title Development Lending 476

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

AUGUST 2, 2021

More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Finance of America Reverse. Principal and Chair, Financial Instituions Regulatory Practice Group. Finance of America Companies. Bay Equity Home Loans.

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