Housing Wire

NOVEMBER 13, 2024

After starting with the importance of focused information and certain reverse mortgage product features , the pair went deeper into other longstanding elements that some industry participants might be misinformed about. Jones, a reverse mortgage is a ‘rising debt, falling equity’ loan,” he said. “As Industry regulators — including U.S.

Equity 370

Equity Mortgages Principal Loans 370

Housing Wire

FEBRUARY 4, 2025

A bill introduced in January to the New York state Senate is seeking to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product, as well as the obligations that a borrower assumes when engaging with the industry. PLFs were reduced in 2009, 2010, 2013 and 2017.

Mortgages 352

Mortgages Loans Equity Principal 352

Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s Cabe has similar feelings as his colleagues in different parts of the country, and he is generally optimistic about the state of the industry in early 2024. “I I think things have definitely picked up,” he said.

Development 459

Development Industrial Mortgages Loans 459

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. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. over asking price.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. 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. trillion in 2021.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

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.

Mortgages 468

Mortgages Equity Finance Lending 468

Housing Wire

AUGUST 13, 2024

The assets have “a projected unpaid principal balance of approximately $3 billion,” Onity announced in its Q2 report. Wong added that from Waterfall’s perspective, this deal is illustrative of the company’s desire to grow its presence inside the reverse mortgage industry. The company intends to issue $51.7

Mortgages 434

Mortgages Equity Principal Finance 434

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

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.

VA loan 448

VA loan Principal Residential Loans 448

Housing Wire

JULY 30, 2024

Cooper’s leverage — calculated as debt to tangible equity — was 2.1 Meanwhile, Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. times in the second quarter of 2024, compared to 1.9 times at the end of 2023.

Principal 482

Principal Investor Banks Mortgages 482

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 Rocket said that its recapture rate, which includes purchase and refinance loans, is at 85%, triple the industry average. billion in market value as of June 30. billion as of June 30. Annaly was No. 14 in the ranking.

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Closing Principal Loans Finance 434

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. 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. trillion in 2021.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

MARCH 19, 2024

Lewisville, Texas-based property services company MCS announced last week that it acquired Five Brothers Asset Management Solutions , a deal which brings MCS into the reverse mortgage industry for the first time, according to an announcement by the company. Five Brothers, headquartered in Warren, Mich.,

Mortgages 448

Mortgages Principal Commercial Real-estate owned 448

Housing Wire

JULY 29, 2024

It maintains interest rates that have been described by reverse mortgage industry professionals as potentially more beneficial than what the industry itself can provide to area seniors under federally sponsored programs. The borrower receives a monthly payment. I’m excited to have the knowledge around this,” he said.

Mortgages 448

Mortgages Principal Loans Industrial 448

Housing Wire

AUGUST 1, 2024

Despite some recent relief from mortgage rates , top executives at the parent of Rocket Mortgage continue to expect a challenging landscape for the industry in the coming months, mainly due to regulatory changes, low affordability levels and consolidation. What will be their playbook? They will also keep chasing purchase market share. “We’re

Marketing 447

Marketing Equity Loans Principal 447

Housing Wire

JULY 25, 2024

But as a longtime industry professional who recognizes the potential value of the Home Equity Conversion Mortgage Program (HECM), Cullen previously explained to HousingWire ’s Reverse Mortgage Daily (RMD) that he made the transition from industry professional to customer. ” It’s tough.

Mortgages 441

Mortgages Principal Development Industrial 441

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.

Equity 414

Equity Lending Technology Principal 414

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 447

Housing Wire

JUNE 26, 2024

Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), FOA was the No.

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Finance Principal Commercial Equity 416

Housing Wire

JUNE 3, 2021

Job losses in the service industry sector severely impacted renters, while those who have been able to maintain their jobs remotely have fared much better. of the GSE’s total securitized unpaid principal balance. In a prepared statement, FHFA director Mark Calabria drew attention to the uneven pandemic recovery.

Principal 497

Principal Finance Loans Equity 497

Housing Wire

JULY 1, 2024

Many of this year’s winners mentor women in the industry, paving the way for a new generation of leaders. Others lead volunteer programs for their employees or serve on advisory boards that shape industry practices. This year marks the 15th year of this award program.

Lending 493

Lending Technology Mortgages Equity 493

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgages 468

Mortgages Principal Equity Loans 468

Housing Wire

JULY 31, 2024

Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0. Looking at potential risks A catalyst to the development of HMBS 2.0 When asked about HMBS 2.0’s

Development 447

Development Principal Industrial Mortgages 447

Housing Wire

DECEMBER 11, 2023

The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand. There is a lot more inquiry for home equity line credit. trillion as of Q3 2023, nearing its 2022 peak.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

OCTOBER 19, 2023

. “Working together as one group combines a vast range of industry backgrounds that contribute to expertise in every category of real estate.

Principal 435

Principal Technology Equity Residential 435

Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. per square foot, or 3.5 percent of the $223 per-square-foot average for homes.”

Loans 452

Loans Equity Principal Development 452

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. “The mortgage industry is fragmented and ripe for disruption by tech-enabled, customer-centric platforms,” Al Goldstein, CEO of StoicLane and one of the investors in the round, said in a statement. and former U.S.

Mortgages 422

Mortgages Loan Officer Investor Loans 422

Housing Wire

JUNE 3, 2022

The major market dynamic making EBO deals attractive now, according to KBRA, is a changing of seasons in the mortgage industry, marked by fast-rising rates , high housing prices and a turn toward a competitive purchase-mortgage market. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure.

Loans 418

Loans FHA loan Principal Marketing 418

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.

Mortgages 448

Mortgages VA loan Principal Loans 448

Housing Wire

JULY 11, 2024

The Appraisal Foundation, an industry-run private nonprofit, denies the allegations but agreed with the settlement to conclude the investigation. “We are pleased to have reached this conciliation agreement,” Kelly Davids , president of the foundation since March , said in a statement.

Principal 432

Principal Development Equity Industrial 432

Housing Wire

MARCH 6, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. Most industry growth must come from proprietary loans.”

Mortgages 467

Mortgages Seller concession Principal Loans 467

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3%

Mortgages 416

Mortgages Finance Equity Principal 416

Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 447

Mortgages Marketing Equity Finance 447

Housing Wire

MAY 17, 2024

In this second part of a recent discussion , Resch explains how financial planner conversations about reverse mortgages have evolved in recent years, and how mortgage industry professionals can overcome any intimidation they may feel about approaching planners as potential sources of business. And it’s the exact opposite now.

Mortgages 459

Mortgages Industrial Equity Principal 459

Housing Wire

JUNE 17, 2024

After first entering the housing business to sell real estate , Jim Cullen transitioned into the mortgage industry in 1997. Even with the lower principal limits, I’m fortunate that I don’t have a mortgage to pay off. If you had an opportunity to tell the industry something, what would you like to say?

Mortgages 464

Mortgages Equity Principal Banks 464

Housing Wire

AUGUST 5, 2024

The National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter to Ginnie Mae acting president Sam Valverde, offering their thoughts and perspectives on the government-owned company’s proposed supplemental Home Equity Conversion Mortgage (HECM)-backed Securities ( HMBS ) program.

Principal 439

Principal Development Equity Mortgages 439

Housing Wire

AUGUST 9, 2022

. “Our second quarter results reflect the extremely challenging market environment that continues in our industry, which led to ongoing declines in our mortgage volumes and profit margins,” said Martell, who formerly ran CoreLogic and is known in the industry for cost-cutting. million from the previous quarter.

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Closing Principal Lending Loans 497