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.

Equity 362

Equity Loans Residential Banks 362

Housing Wire

JUNE 18, 2024

million in aggregate principal amount available for 30 days to cover over-allotments. The company said the proceeds of the debt offering are expected to fund, among other things, the firm’s residential lending business, the acquisition of mortgage-backed securities (MBS), and strategic acquisitions and investments.

Closing 329

Closing Principal Lending Equity 329

Housing Wire

DECEMBER 11, 2023

A top-tier borrower with a 780 FICO score and a 25-30% down payment for a single-family vanilla 30-year fixed-rate mortgage was quoted 6.875% on Thursday, said Larry Steinway, senior vice president of mortgage lending and branch manager of Revolution Mortgage. “We There is a lot more inquiry for home equity line credit.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

JUNE 28, 2024

It initially sought members with expertise in fields such as fair lending, fair housing, civil rights, capital markets, investments, single-family and multifamily lending, community advocacy, Low-Income Housing Tax Credits , research and more. The FHFA began soliciting applications for the committee in September 2023.

Lending 340

Lending Principal Finance Equity 340

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 402

Mortgages Equity Finance Lending 402

Housing Wire

AUGUST 9, 2022

. “We are exiting our wholesale channel consistent with our strategy of becoming a more purpose-driven organization with direct customer engagement throughout the entire lending process,” Frank Martell , president and chief executive officer of loanDepot, said in a news release.

Closing 497

Closing Principal Lending Loans 497

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.

Banks 421

Banks Lending Loans Principal 421

Housing Wire

MARCH 6, 2023

of the median household income to make the monthly principal and interest payments on the average home purchase. Both purchase and refinance lending are expected to reach their floor in the first quarter of 2023 before trending modestly higher through the year, Black Knight projected. With 30-year rates at 6.5%

Marketing 387

Marketing Equity Principal Mortgages 387

Housing Wire

AUGUST 12, 2024

California -based HighTechLending , a top-10 lender in the reverse mortgage industry, recently announced that it was rebranding its wholesale channel to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

Lending 376

Lending Loan Officer Branding Principal 376

Housing Wire

OCTOBER 1, 2024

The Federal Housing Administration (FHA) on Tuesday issued an informational notice to mortgage lenders in which it reiterates various loss-mitigation options afforded to companies and borrowers who are engaged in FHA lending programs in presidentially declared major disaster areas (PDMDAs).

Inspection 417

Inspection Pre-approval Loans Principal 417

Housing Wire

DECEMBER 29, 2023

I’m comfortable with lending there because I know I’m very familiar with the area. Jon Overfelt, director of sales and principal at American Security Mortgage Corp. Home equity is really a no-brainer today. I have a lot of connections in Ohio. So we’re planning for a 20% increase. —

Mortgages 468

Mortgages Loan Officer Loans Equity 468

Housing Wire

APRIL 8, 2021

When you make a mortgage payment, part of that money goes toward the principal balance. Should the property increase in value over time, then you, in turn, will have built up more equity. The equity built from owning a home can extend far beyond the homeowners themselves.

Fixed-rate mortgage 408

Fixed-rate mortgage Equity Principal Mortgages 408

Housing Wire

NOVEMBER 29, 2023

1, 2024, a ‘high balance loan’ is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any up-front mortgage insurance premium) that exceeds the [new] limits,” the company said in a statement. “Under the new definition, effective for pools or loan packages submitted on or after Jan.

Loans 348

Loans FHA loan Principal Finance 348

Housing Wire

OCTOBER 24, 2024

Mutual of Omaha approved brokers and principal agents will have access to five core protections, including a promise that the lender “will not solicit borrowers established within the broker network.” We see this program as a way to show our broker and principal agent partners that we are aligned with their success.”

Principal 382

Principal Branding Investor Mortgages 382

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 299

Equity Lending Principal Technology 299

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 (..)

Technology 431

Technology Title Development Lending 431

Housing Wire

APRIL 24, 2024

PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release. That was less than the $38.1

Loans 388

Loans Lending Principal Mortgages 388

Housing Wire

OCTOBER 30, 2024

That said, we see our direct lending channels, as we continue to basically get momentum through our recapture investments, to continue to improve and increase.” This resulted from a portfolio of $878 billion in unpaid principal balance (UPB), including $755 billion in mortgage servicing rights (MSRs) owned by the company.

Equity 351

Equity Principal Mortgages Lending 351

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. million in fourth-quarter 2023.

Investor 383

Investor Bankruptcy Finance Equity 383

Housing Wire

JANUARY 3, 2023

On December 22, 2021, borrower (loanDepot) executed an eighteenth amended and restated promissory note in the principal amount of $268,000,000 in favor of Lender (NexBank), evidencing the loan,” according to the filing. As of September 30, the lender’s total funding capacity with its lending partners decreased by 42.4%

Lending 67

Lending Principal Loans Mortgages 67

Keeping Current Matters

APRIL 12, 2021

Lending institutions don’t want the headaches of managing foreclosed properties. Today, almost all lending institutions are working with their borrowers. 5% were granted a loan deferral where a borrower does not have to pay the lender interest or principal on a loan for an agreed-to period of time.

Equity 317

Equity Banks Loans Lending 317

Housing Wire

MAY 16, 2022

UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 billion in the unpaid principal balance of MSRs as of March 31, 2022 compared to $221 billion exactly a year earlier. Rocket Companies ($1 billion), United Wholesale Mortgage ($453.2 million) and Homepoint ($11.9

Principal 353

Principal Banks Loans Lending 353

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. The team co-founded several businesses, such as the fintech Enova, real estate investment trusts (REIT) Pangea Properties and New Lake , and the online lending company Avant. Chicago-based mortgage originator Interfirst Mortgage Co.

Mortgages 303

Mortgages Loan Officer Investor Loans 303

Housing Wire

MARCH 7, 2024

Keith Lind , CEO of Acra Lending , a leading non-QM lender, said the PLS market is “fully healthy and functional, and I think it’s going to get better.” “There’s a lot of demand from investors that want to buy these bonds backed by non-QM, but there’s only so many loans to be bought to securitize,” Lind said. “So

Investor 365

Investor As-is Commercial Equity 365

Housing Wire

NOVEMBER 5, 2024

In August, loanDepot added a first-lien home equity line of credit (HELOC) to its product suite, enabling homeowners without a mortgage to borrow from their home equity. In September, it hired military advocate Bryan Bergjans to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. billion on Sept.

Purchase and sale agreement 342

Purchase and sale agreement Equity Loan Officer Principal 342

Housing Wire

AUGUST 29, 2022

billion in equity as of the second quarter, plus technology that can close loans faster than most competitors, aggressive pricing is a “multibillion dollar decision investment,” as Ishbia put it. His tangible net worth ratio (a proxy of how much equity you have relative to your total assets) is just under 30%.

Loan Officer 431

Loan Officer Loans Equity Mortgages 431

Housing Wire

FEBRUARY 8, 2024

Before that, he spent nearly a year as EVP of direct lending at Go Mortgage and served for eight years as president of consumer direct at Lending.com , a Finance of America company. “We ” Two Harbors’ origination business will hedge its servicing portfolio of $216 billion in unpaid principal balance (UPB) as of Dec.

Lending 325

Lending Mortgages Principal Loans 325

Housing Wire

NOVEMBER 17, 2022

Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” According to John Bosley, president of mortgage lending at Planet Home Lending , the idea that 95% of firms will qualify for the new risk-based capital rule is a “little bit disingenuous.”

Marketing 372

Marketing Lending Loans Principal 372

Housing Wire

SEPTEMBER 19, 2022

A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. Cash-out refis continued to increase in 2021, with borrowers taking advantage of surging home prices and record levels of home equity. The consumer watchdog noted that the pace of originations in 2021 slowed to 2.4%

Marketing 334

Marketing Loans Principal Mortgages 334

Housing Wire

JULY 22, 2022

The examples, all within about a month, illustrate a non-QM lending world in disarray, turned upside down in recent months as originators battle an unassailable force over which they have no control: fast-rising interest rates. recalled Keith Lind, CEO of Acra Lending, a leading non-QM lender. “Of Of course we’re not. “…If

Lending 355

Lending Banks Bankruptcy Loans 355

Housing Wire

JUNE 17, 2024

It would be a few more years before he made the jump into the reverse lending space, but once he did, he found a business that he connected with until his retirement this year. Even with the lower principal limits, I’m fortunate that I don’t have a mortgage to pay off. So that’s always been a big thing.

Mortgages 350

Mortgages Equity Principal Banks 350

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 276

Investor Sales Mortgages Loan Officer 276

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Mr. Cooper had 4.1 ” Acquisition mode for Mr. .”

Principal 330

Principal Banks Equity Loans 330

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 347

Mortgages Loans Finance Equity 347

Housing Wire

SEPTEMBER 17, 2024

FOA also advised that any investors who participate could receive “a cash fee equal to 0.25% of the aggregate principal amount of outstanding 2025 unsecured notes that are exchanged,” according to the announcement. Anyone with potential interest in the agreement must signal their intent to participate by 5 p.m.

Commercial 315

Commercial Finance Branding Principal 315

Housing Wire

JULY 7, 2021

The sale is expected to reduce Mr. Cooper’s overall servicing portfolio by $16 billion in unpaid principal balance (UPB), and will also decrease its balance sheet by approximately $5 billion in Home Equity Conversion Mortgage (HECM) servicing rights (MSRs) and other unspecified assets.

Sales 396

Sales Mortgages Branding Principal 396

Housing Wire

DECEMBER 13, 2024

Importantly, the association said that the recent development of Ginnie Maes new, complementary Home Equity Conversion Mortgage ( HECM )-backed Securities ( HMBS ) product known as HMBS 2.0 As the white paper explains, FHA-insured forward mortgages require servicer advances of monthly scheduled principal and interest.

Bankruptcy 271

Bankruptcy Loans Investor Banks 271