HomeLight

SEPTEMBER 19, 2024

With home values surging nearly 50% in the last four years, many homeowners are sitting on a significant equity windfall. If you’re considering tapping into this equity, a HELOC or a home equity loan could be the way to go. But when it comes to a HELOC vs. home equity loan, how do you decide which is right for you?

Equity 64

Equity Loans Principal Finance 64

Housing Wire

OCTOBER 18, 2024

When older homeowners wish to access a portion of their equity, there are multiple options. The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement.

Mortgages 448

Mortgages Principal Equity Loans 448

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. That’s up 5.5% compared to the current limit of $726,200.

Loans 448

Loans FHA loan Principal Finance 448

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. billion goodwill impairment. .” billion, with a coverage ratio of 163%.

Equity 435

Equity Mortgages Banks Commercial 435

Housing Wire

DECEMBER 7, 2021

Record home price appreciation in recent years has pushed tappable home equity to new heights. According to a report published by data vendor Black Knight this week, the third quarter of 2021 saw a nearly $250 billion dollar increase in tappable equity—a record. of available equity entering the quarter, the report said.

Equity 477

Equity Principal Mortgages Closing 477

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 419

Loans FHA loan Principal Marketing 419

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 307

Equity Principal Mortgages Loans 307

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgages 449

Mortgages Equity Loans Principal 449

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower.

Principal 460

Principal Mortgages Loans Equity 460

Housing Wire

SEPTEMBER 10, 2024

In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages ( HECM s) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. After all, older ages and lower interest rates generally yield higher principal limits.

Mortgages 460

Mortgages Principal Equity Loans 460

Housing Wire

SEPTEMBER 6, 2023

According to Black Knight’s mortgage monitor report, the average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306. Between 2010 and 2021, mortgage holders withdrew an average 0.92% of available tappable equity each quarter.

Equity 436

Equity Mortgages Principal Loans 436

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 450

Principal Branding Investor Mortgages 450

Housing Wire

OCTOBER 31, 2024

1, NerdWallet is paying $1 million in cash for the outstanding equity interests of Next Door. The Nationwide Multistate Licensing System (NMLS) shows that Michigan-based brokerage firm Next Door had 61 sponsored loan officers as of Thursday, along with four branches in Arizona, Nevada, Ohio and Texas. It is also offering $3.5

Lending 491

Lending Mortgages Loan Officer Principal 491

Keeping Current Matters

DECEMBER 21, 2021

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb , your equity does too.

Equity 310

Equity Principal Loans As-is 310

Housing Wire

OCTOBER 24, 2024

Two days later, Onity announced final details of the transaction that included a price revision to $500 million and an aggregate principal amount of senior notes at 9.875% due in 2029. The price to investors will be 99.556% of the principal amount of the notes.

Principal 436

Principal Investor Mortgages Equity 436

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). we must use the nearest 1/8th percent (0.125%).

Principal 438

Principal Mortgages Loans Equity 438

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 Meanwhile, Rocket’s servicing portfolio, including subserviced loans, had a UPB of $534.6 million loans, generating about $1.4 billion in market value as of June 30. billion as of June 30. Annaly was No.

Closing 435

Closing Principal Loans Finance 435

Housing Wire

AUGUST 16, 2024

Many seniors aren’t aware of a sensible financial tool that could ease their worry and help them thrive during their golden years: the home equity conversion mortgage, also called a reverse mortgage. Or, if they are aware of this option, they may view it with skepticism based on longstanding misconceptions.

Mortgages 483

Mortgages Principal Equity Loans 483

Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. Meanwhile, the company’s total revenues reached $314.6

Purchase and sale agreement 398

Purchase and sale agreement Equity Loan Officer Principal 398

Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance.

Mortgages 434

Mortgages Equity Principal Loans 434

Housing Wire

SEPTEMBER 28, 2023

in June, according to CoreLogic ’s Loan Performance Insights. mortgage delinquencies remained near a record low in July, with the share of homes entering that status or progressing to later stages either unchanged or lower,” said Molly Boesel, principal economist for CoreLogic , in a news release. percentage point to 2.7% Overall U.S.

Mortgages 469

Mortgages Staging Equity Principal 469

Housing Wire

MARCH 19, 2024

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 439

Equity Loan Officer Principal Loans 439

Housing Wire

OCTOBER 1, 2024

The guidance applies to origination and servicing for both traditional forward mortgages as well as Home Equity Conversion Mortgages ( HECMs ) for senior borrowers, the agency said. “In handbook, including inspection and repair escrow environments for loans that have yet to close.

Inspection 477

Inspection Pre-approval Principal Loans 477

Housing Wire

JULY 29, 2024

Under the program’s guidelines, the maximum loan amount is determined based on “80 percent of the FHA-determined value of the home,” Cohen said. The maximum loan amount is $150,000. It’s a first-lien position, so they pay off the first loan, if there is one.” The borrower receives a monthly payment.

Mortgages 450

Mortgages Principal Loans Industrial 450

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. How fast we move past that is up for debate.”

Mortgages 483

Mortgages Fixed-rate mortgage Equity Loans 483

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. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Marketing 529

Marketing Equity Loans Bankruptcy 529

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. recently rebranded as Rithm Capital ).

Equity 370

Equity Loans Residential Banks 370

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 We’ll probably trade a little over $1.2

Equity 461

Equity Lending Fixed-rate mortgage Loans 461

Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. In the case of FOA — the current industry leader — the earnings results were robust.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

MAY 25, 2022

One of the largest loan-servicing companies in the nation, Lakeview Loan Servicing LLC , is facing at least a dozen civil lawsuits, all seeking class-action status, in the wake of a major cyberattack that compromised the personal data of the mortgage borrowers the company serves. of all agency loans being serviced — with a $374.8

Loans 461

Loans Banks Mortgages Principal 461

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 469

Mortgages Equity Finance Lending 469

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. Department of Veterans Affairs (VA) loans.

VA loan 450

VA loan Principal Residential Loans 450

Housing Wire

FEBRUARY 1, 2024

Higher death termination caused by the COVID-19 pandemic was in the data and led to different age composition of the active loan,” the report read. “We We leave this to future research to identify the impact of the COVID-19 pandemic on the composition of surviving loans.

Mortgages 436

Mortgages Principal Loans Equity 436

Housing Wire

JULY 30, 2024

” According to the agency, Mr. 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 483

Principal Investor Banks Mortgages 483

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And it just might push some smaller lenders over the cliff.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Banks 370

Housing Wire

MAY 23, 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. million HECM loans between Oct. A study commissioned by the U.S. 1, 1999, and Sept.

Equity 460

Equity Loans Principal Commercial 460

Housing Wire

APRIL 26, 2024

The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. home equity , which was up by $1.3 home equity , which was up by $1.3

Mortgages 500

Mortgages Staging Principal Loans 500