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loanDepot returns to profitability, announces new strategic plan 

Housing Wire

Costs may increase as the company continues to add loan officers and operations team members. 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. Meanwhile, the company’s total revenues reached $314.6

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Rithm Capital restructures CEO’s pay into incentive-friendly deal

Housing Wire

New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award.

Equity 444
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The 2022 housing market: A tale of two halves

Housing Wire

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. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

Marketing 529
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How LOs, mortgage execs are preparing for 2024

Housing Wire

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgages 476
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loanDepot sells MSRs, improves margins in Q2

Housing Wire

Hayes told analysts that the “higher gain-on-sale margin benefited from the reversal of the loss provision, reflecting the strong credit performance of our historical production vintages, as well as growing contributions of higher-margin home equity products.” Purchase loans comprised 72% of loanDepot’s total volume in Q2 2024.

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Interfirst Mortgage raises $175 million

Housing Wire

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. and former U.S.

Mortgages 426
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. Yet staggeringly few are aware of its existence. What is reverse purchase financing?

Finance 482