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.”

Equity 448

Equity Loans Mortgages Finance 448

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 446

Lending Mortgages Equity Loan Officer 446

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. Before that, he spent six years at Quicken Loans. As part of the deal that closed Oct. It is also offering $3.5

Lending 489

Lending Mortgages Loan Officer Principal 489

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. HELOCs accounted for $53.6

Equity 459

Equity Lending Banks Loans 459

Housing Wire

AUGUST 5, 2024

trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 On top of that, tappable home equity reached a new high of $11.5 roughly three in five — now have at least $100,000 in tappable home equity, which refers to the amount of equity they can access while maintaining a stable 20% equity “cushion.”

Equity 459

Equity Loans Mortgages Lending 459

Housing Wire

MARCH 20, 2024

Figure Lending LLC is now operating under the umbrella of Figure Technology Solutions , independent of CEO Mike Cagney ’s Figure Technologies. to take its lending division, LendCo , public. CMG Financial , CrossCountry Mortgage , Fairway Independent Mortgage and The Loan Store are Figure’s private-label partners.

Lending 447

Lending Equity Technology Banks 447

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. A decline in MCAI, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase in the index suggests a loosening of credit. billion in 2022 from last year’s $4.4

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

AUGUST 25, 2022

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. In the last five years alone, homeowners have gained, on average, $125,000 in equity on their properties.

Lending 416

Lending Equity Loans Technology 416

Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived.

Equity 448

Equity Lending Closing costs Mortgages 448

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 497

Residential Lending Banks Mortgages 497

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.

Lending 496

Lending Banks Mortgages Loan Officer 496

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. Purchase-loan activity went down another 9.9%

Lending 492

Lending Mortgages Residential Loans 492

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 468

Equity VA loan FHA loan Mortgages 468

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

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.

Lending 416

Lending Technology Equity Loans 416

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. Figure originated $900 million in loans and generated $2.7 JP Morgan Chase & Co. for the IPO.

Lending 458

Lending Banks Equity Technology 458

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.

Equity 448

Equity Purchase and sale agreement Marketing Lending 448

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 445

Equity Technology Loans Lending 445

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. The funding timeline of five business days assumes closing the loan with Figure’s remote online notary, Figure said.

Lending 370

Lending Technology Pre-approval Equity 370

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.

Lending 445

Lending Branding Loan Officer Technology 445

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital. “In

Construction 459

Construction Development Loans Lending 459

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. The current stress in the CRE and C&I loan markets further highlights the advantages of residential mortgages.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

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. The Austin -based company has added the Digital Loan Product Wizard to the system, according to a recent announcement. Early trials of the feature yielded a 10% increase in applicant conversion rates.

Equity 435

Equity Loan Officer Lending Loans 435

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. At AmeriCash, he oversaw more than 300 employees and helped the company close more than $18 billion in home loans. San Jose -based EquiFi Corp. ,

Equity 394

Equity Purchase and sale agreement Mortgages Finance 394

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Equity 488

Equity Purchase and sale agreement Loan Officer Lending 488

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

Equity 418

Equity Loans Banks Title 418

Housing Wire

JUNE 12, 2024

Figure Technology Solutions , the parent company of Figure Lending LLC , has launched a blockchain-based marketplace to connect buyers and sellers of private credit loans, promising to reduce settlement timelines and create greater pricing certainty.

Loans 440

Loans Lending Technology Equity 440

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. On March 6, the company received $1 billion in equity investment , led by former U.S.

Loans 467

Loans Mortgages Due diligence Banks 467

HomeLight

AUGUST 6, 2024

homeowner is sitting on roughly $200,000 worth of equity. However, nearly half of homeowners don’t meet home equity loan requirements. What do lenders expect before they’ll approve you for an equity-backed loan? We’ll also provide real-world loan examples and a list of alternative options that might work for you.

Equity 115

Equity Loans Lending Finance 115

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 397

Equity Lending Loans Banks 397

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 397

Equity Loans Lending Banks 397

Housing Wire

NOVEMBER 28, 2023

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

FHA loan 497

FHA loan Loans Finance Lending 497

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

Loans 435

Loans Lending Equity Mortgages 435

Housing Wire

OCTOBER 31, 2024

The interest rate on the loan has been lowered from 9.99% to 9.49%. Interest rates on second-lien loans tend to be higher when compared to first liens, reflecting the higher amount of risk to the lender. It will also be available in four new states, bringing the total to 10 with more planned for 2025.

Mortgages 432

Mortgages Equity Loan Officer Loans 432

Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? The list of potential obstacles across the Black housing journey — it’s long,” said Katrina Jones, Fannie Mae’s vice president of racial equity strategy and impact. “The

Equity 448

Equity Lending Closing costs Development 448

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

HomeLight

SEPTEMBER 16, 2024

As a result, you might be sitting on a significant amount of home equity, and you’re not alone — U.S. homeowners collectively hold around $32 trillion in equity. If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?”

Equity 110

Equity Loans Loan Officer Lending 110