Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. from $490 billion in the second quarter.

Equity 488

Equity Lending Banks Loans 488

Housing Wire

DECEMBER 27, 2024

Reverse mortgage business and mortgage business generally is not where people want it to be. That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. I think that’s true from an industry standpoint.

Industrial 397

Industrial Mortgages Principal Lending 397

Housing Wire

JULY 15, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , announced Monday that it has decided to waive the $795 origination fee charged to broker partners on home equity loans. However, as we all know, borrowers don’t want to touch their first mortgages because they have lower interest rates, which is completely understandable.

Equity 448

Equity Loans Mortgages Finance 448

Housing Wire

SEPTEMBER 25, 2024

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. However, the industry is approaching this cycle with caution. “I’m Image created by AI in Midjourney.)

Industrial 459

Industrial Mortgages Loan Officer Loans 459

Housing Wire

MARCH 15, 2024

Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity from the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

Equity 459

Equity Finance Mortgages Industrial 459

Housing Wire

JULY 29, 2024

Home equity lending in 2023 grew by only 1.5% in the same time period, according to a study released Monday by the Mortgage Bankers Association (MBA). The data includes total originations of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans. billion per company in 2023, compared with $2.1

Equity 444

Equity Lending Loans Renovation 444

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 467

Equity Finance Purchase and sale agreement Investor 467

Housing Wire

MAY 3, 2024

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. The biggest year of mortgage production , from 2021-2022, generated $4.5 Compare that with $30 trillion in financeable equity — it dwarfs it. Compare that with $30 trillion in financeable equity — it dwarfs it.

Equity 444

Equity Technology Loans Lending 444

Housing Wire

MAY 15, 2024

Last month, Freddie Mac announced a plan to begin purchasing single-family closed-end second (CES) mortgages from lenders, a proposal now subject to a public comment review period before adoption. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.” Morgan and Saluda Grade.

Equity 490

Equity Loans Investor Mortgages 490

Housing Wire

AUGUST 28, 2024

Tim Bowler, President of ICE Mortgage Technology, has a clear, specific vision for the future of ICE Mortgage Technology and the mortgage industry. HousingWire: ICE Mortgage Technology has been making significant investments in product innovation. Tim Bowler: Absolutely.

Technology 425

Technology Industrial Mortgages Development 425

Housing Wire

SEPTEMBER 20, 2024

The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. 24-26 in San Diego.

Industrial 466

Industrial Mortgages Loan Officer Lending 466

Housing Wire

JANUARY 10, 2025

Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.

Industrial 394

Industrial Mortgages Loans Finance 394

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.

Equity 367

Equity Mortgages Principal Loans 367

Housing Wire

MARCH 11, 2024

I have been in the mortgage industry for more than two decades and have been working with reverse mortgages for about 12 of those years. Working in this space for so long, I thought I knew the ins and outs of a reverse mortgage, but it wasn’t until I experienced one firsthand that some things really hit home for me.

Industrial 482

Industrial Mortgages Loans Lending 482

Housing Wire

OCTOBER 2, 2024

Department of Housing and Urban Development (HUD), addressed industry attendees at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego last week. David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S.

Industrial 444

Industrial Mortgages Finance Development 444

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 431

Mortgages Equity Loan Officer Loans 431

Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. But some financial advisers are hesitant to recommend the strategy.

Equity 459

Equity Loans Finance Mortgages 459

Housing Wire

NOVEMBER 8, 2024

In the latest episode of the Power House podcast, host Diego Sanchez sits down for a group chat with Fobby Naghmi, senior vice president at Homecomings Mortgage & Equity , and Ginger Bell, founder of Edumarketing. In our industry, we have so many different verticals. As an industry, we must come together and grow as leaders.

Industrial 370

Industrial Mortgages Equity Development 370

Housing Wire

AUGUST 23, 2024

Montana ’s unique Reverse Annuity Mortgage (RAM) program is a state-sponsored reverse mortgage, with lower interest rates and proceeds along with a higher minimum qualifying age that distinguishes it from the Home Equity Conversion Mortgage (HECM) program through the Federal Housing Administration (FHA).

Industrial 418

Industrial Mortgages Loans Title 418

Housing Wire

MAY 15, 2024

Last month, Freddie Mac announced a plan to begin purchasing single-family closed-end second (CES) mortgages from lenders, a proposal now subject to a public comment review period before adoption. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.” Morgan and Saluda Grade.

Equity 442

Equity Marketing Loans Investor 442

Housing Wire

NOVEMBER 20, 2024

Chicago-based multichannel mortgage lender Rate , formerly known as Guaranteed Rate , has announced a shakeup in its reverse mortgage division’s leadership by appointing two longtime industry veterans to lead the company’s efforts with older borrowers. PRMI) and The Federal Savings Bank. “I

Industrial 368

Industrial Mortgages Lending Loan Officer 368

Housing Wire

MARCH 22, 2024

Home equity levels among homeowners aged 62 and older are at record levels following the end of the pandemic. As a result, reverse mortgages may no longer be considered a “loan of last resort” as financial planners aim to highlight their uses as part of a comprehensive financial plan in retirement. The beneficiaries can get more.

Mortgages 482

Mortgages Equity Finance Loans 482

Housing Wire

AUGUST 29, 2024

In the months ahead, with the presidential election approaching and the Federal Reserve eyeing interest rate cuts, originators will scrutinize how shifting fiscal policy could influence the mortgage industry and the economy at large. But how will these changes actually impact mortgage originators and the borrowers they serve?

Industrial 417

Industrial Mortgages Marketing Loans 417

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. Stated differently, you are dealing with individuals that may be in an equity prison.

Equity 459

Equity Loans Bankruptcy As-is 459

Housing Wire

SEPTEMBER 3, 2024

With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.

Mortgages 468

Mortgages Equity Finance Lending 468

Housing Wire

SEPTEMBER 23, 2024

Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments.

Lending 445

Lending Mortgages Equity Loan Officer 445

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 458

Mortgages Loan Officer Banks Equity 458

Housing Wire

JUNE 14, 2024

Consumer and industry advocacy organizations — including the American Land Title Association (ALTA), National Consumer Law Center (NCLC), National Association of Realtors (NAR) and AARP — are sounding the alarm over a rising trend of elder real estate fraud and financial exploitation in a new jointly created issue brief released on Friday.

Industrial 458

Industrial Title Land Equity 458

Housing Wire

OCTOBER 16, 2024

Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank , has been reappointed to a new three-year term as a member of the U.S. Housing counseling is a critical element of the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage ( HECM ) program.

Industrial 431

Industrial Banks Lending Equity 431

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. The recently announced increase to the HECM limit is exciting news for reverse mortgage borrowers,” she told RMD in a statement.

Mortgages 397

Mortgages Equity Lending Loans 397

Housing Wire

APRIL 15, 2024

Caregiving challenges can be compounded if there’s only one child in the family, but a reverse mortgage could offer a solution, according to a column published by Reuters. Industry educators have long aimed to position a reverse mortgage as a financial planning tool for retirement. The beneficiaries can get more.

Mortgages 476

Mortgages Equity Loans As-is 476

Housing Wire

OCTOBER 18, 2024

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in.

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Equity Finance 448

Housing Wire

SEPTEMBER 3, 2024

and an equity research analyst — joins hosts James Dwiggins and Keith Robinson to chat about last month’s major changes for the real estate industry. Campbell says that global equity markets are focused on interest rates more so than any other worldly factors. 17 market and those that still face challenges.

Industrial 448

Industrial Equity Agents Brokerage 448

Housing Wire

JULY 25, 2024

As the numbers of seniors carrying mortgage debt in retirement has increased, so too has the potential financial burden of a regular monthly mortgage payment. “Retirement researchers warn that mortgage debt in retirement can be a trap,” the article explained.

Mortgages 476

Mortgages Equity Finance Loans 476

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization.

Mortgages 447

Mortgages Equity Lending Industrial 447

Housing Wire

SEPTEMBER 19, 2024

Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time. Kristen Sieffert At industry leader Finance of America (FOA), company president Kristen Sieffert said that the impact on both the company and the industry will be very evident.

Mortgages 493

Mortgages Lending Finance Industrial 493

Housing Wire

JANUARY 2, 2025

Home Equity Conversion Mortgage (HECM) endorsements saw a healthy increase in October 2024. But after additional data about the month of October was released, one metric of reverse mortgage industry performance HECM case number assignments from the Federal Housing Administration (FHA) saw a surprising increase at that time.

Mortgages 412

Mortgages Equity Principal Loans 412