Housing Wire

SEPTEMBER 4, 2024

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. One-quarter of these lenders offered accelerated closing options, including two lenders that advertised home equity funding in as little as one week.

Equity 399

Equity Lending Banks Loans 399

Housing Wire

JUNE 20, 2024

Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. NFM loan officers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling.

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Lending Loans Loan Officer Equity 410

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

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Lending Banks Mortgages Loan Officer 420

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 445

Equity VA loan FHA loan Mortgages 445

Housing Wire

JUNE 6, 2024

Mortgage lending in the U.S. reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% All major mortgage lending categories sustained losses, the report said. Home-equity credit lines slipped 9%, to 222,000.

Lending 426

Lending Mortgages Residential Loans 426

Housing Wire

NOVEMBER 20, 2024

However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market. Jonathan Scarpati: I started with Senior Lending Network out of New York.

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Equity Finance Marketing Lending 300

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.

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Lending Mortgages Equity Loan Officer 362

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents. billion.

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Equity Purchase and sale agreement Marketing Lending 405

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

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Lending Banks Equity Technology 381

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. 1, NerdWallet is paying $1 million in cash for the outstanding equity interests of Next Door. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door.

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Lending Mortgages Loan Officer Principal 400

Housing Wire

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”.

Lending 447

Lending Mortgages Marketing Loans 447

Housing Wire

AUGUST 2, 2024

HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

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Lending Branding Loan Officer Technology 358

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. This increased interest is being led by private equity investors and insurance companies.

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Residential Equity Mortgages Purchase and sale agreement 436

Housing Wire

APRIL 11, 2024

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners.

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Lending Technology Equity Loans 318

Housing Wire

MAY 3, 2024

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. Compare that with $30 trillion in financeable equity — it dwarfs it. You have to think about how you monetize that equity,” Deitch said. You have to think about how you monetize that equity,” Deitch said. “So,

Equity 358

Equity Technology Loans Lending 358

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. With our home equity program, we want to make sure that we’re offering our broker partners a product they can win in this market and help their clients.”

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Equity Loans Mortgages Finance 398

Housing Wire

DECEMBER 23, 2024

While some forward lending companies have gone out of their way to acquire and incorporate reverse mortgage lending divisions into their ongoing operations, others have bolstered their existing reverse mortgage divisions. And some reverse-only companies have aimed to establish firmer ties with the much larger forward mortgage industry.

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Lending Mortgages Industrial Finance 307

Housing Wire

JANUARY 8, 2024

There is currently a lack of guardrails to prevent the formation of monopolies in the mortgage lending industry, and this is where regulators have a prominent role to play. Many first-time homebuyers can be barred from the entire lending process due to outdated and antiquated methodologies, including credit reporting.

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Equity Lending Technology Banks 447

Housing Wire

JUNE 28, 2024

a provider of shared equity financing products, announced Thursday that it hired Paul Giangrande as a corporate executive vice president and president of its mortgage division. San Jose -based EquiFi Corp. , And he will oversee development and implementation of the firm’s marketing strategy and distribution processes.

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Equity Purchase and sale agreement Mortgages Finance 307

Housing Wire

JANUARY 4, 2024

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. “If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” ” Molinsky told NextAvenue.

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Equity Renovation Lending Finance 333

Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

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Lending Loans Equity Banks 335

Housing Wire

OCTOBER 10, 2024

Mortgage lenders can also benefit from these projects through a variety of products, including home equity lines of credit (HELOCs). The vast amount of home equity accumulated across the country could be a path to addressing these issues. And there are now 32 million borrowers who have at least $100,000 in tappable equity.

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Renovation Equity Lending Banks 465

Housing Wire

OCTOBER 19, 2023

We are paying off her current mortgage balance of $280,000 while maintaining more than $200,000 in home equity,” said Anderson, who runs the mortgage broker shop Rancho Capital Home Loans. But for some low FICO borrowers who need a lump sum of cash, a cash-out refinance can be a sensible option, thanks to their accrued home equity.

Mortgages 496

Mortgages FHA loan Equity Loans 496

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 trillion year over year. “At

Equity 451

Equity Lending Fixed-rate mortgage Loans 451

Housing Wire

OCTOBER 23, 2024

Mortgage data and workflow solutions provider FirstClose is launching a new feature for its automated home equity point-of-sale system. Borrowers can determine down payment amounts, monthly payment limits, and interest rates for home equity lines of credit ( HELOCs ) or home equity loans with a five- to 10-day closing process.

Equity 376

Equity Loan Officer Lending Loans 376

Housing Wire

JANUARY 11, 2024

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

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Lending Bankruptcy Mortgages Banks 397

Housing Wire

AUGUST 26, 2024

HousingWire reported that in June 2022, the company raised $115 million — $60 million in equity and $55 million in debt — while acquiring Denver-based lending startup Accept.inc. In 2019, HomeLight acquired Eave , a digital mortgage lending startup. That was the company’s third acquisition. according to HomeLight.

Equity 385

Equity Loan Officer Lending Investor 385

Housing Wire

OCTOBER 31, 2024

This is in line with some other proprietary reverse mortgages and seven years lower than the age requirement for the Home Equity Conversion Mortgage (HECM) program offered by the Federal Housing Administration (FHA). But FOA contends that HomeSafe Second represents a better value proposition than a traditional HELOC.

Mortgages 346

Mortgages Equity Loan Officer Loans 346

Housing Wire

SEPTEMBER 7, 2022

Relatedly, tappable home equity is expected to pull back in the third quarter as equity-rich markets already saw declines in July. . trillion in the second quarter of 2022, Black Knight expects tappable equity to drop in the third quarter, marking the first decline in three years. loanDepot and New Residential Investment Corp.

Equity 450

Equity Marketing Lending Loans 450

Housing Wire

MARCH 19, 2024

The bank will rely on ICE’s loan origination and servicing platforms, Encompass and MSP , to handle both its first-lien and home equity products. It can be used as a channel for mortgage holders to seek assistance in times of distress, or as a platform for lenders to advertise opportunities for equity-based loans or refinancing. “At

Technology 429

Technology Banks Mortgages Equity 429

Housing Wire

JANUARY 10, 2023

Kleber Santos , CEO of consumer lending since his appointment in July, said the bank will continue to be the primary mortgage lender to Wells Fargo bank customers and minority homebuyers through its mortgage retail team. “We In practice, the bank’s portfolio on correspondent lending was already in free fall.

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Closing Lending Banks Equity 501

Housing Wire

MARCH 27, 2024

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , took another step this week to become a public company, just one week after announcing a reorganization of its enterprise structure. Securities and Exchange Commission (SEC) regarding the proposed initial public offering of its equity securities.

Technology 407

Technology Lending Equity Investor 407

Housing Wire

AUGUST 30, 2021

Or that Americans who recently purchased homes are going to get all their equity wiped out when housing prices take a nosedive. This is one of the risks of “late-cycle lending.” The latest messaging is that the Federal Reserve is creating a housing bubble by keeping rates so low that prices can skyrocket.

Equity 540

Equity Lending Mortgages Marketing 540

Housing Wire

JULY 9, 2024

The increased interest in EasyKnock began in December of 2023 , when Massachusetts Attorney General Andrea Joy Campbell announced that she had entered into a settlement with EasyKnock for what her office alleged was deceptive practices that stripped consumers of their home equity. EasyKnock was founded in 2016 and is based in New York City.

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Purchase and sale agreement Equity Lending Investor 389

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. Peter Sciandra, executive vice president of reverse lending and secondary marketing at Fairway Independent Mortgage Corp., Others are taking a more nuanced approach to the increase.

Mortgages 338

Mortgages Equity Lending Loans 338

Housing Wire

JANUARY 13, 2023

“The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. billion, is upping its bet on home equity products. BofA’s home equity originations increased to $2.6 In 2022, home equity volumes increased to $9.6

Mortgages 426

Mortgages Banks Equity Lending 426

Housing Wire

FEBRUARY 12, 2024

The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. If home prices and lending costs moderate in 2024, significant demand could flow into the market.

Mortgages 441

Mortgages Lending Loans Equity 441