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

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. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

Construction 459

Construction Development Loans Lending 459

Housing Wire

NOVEMBER 13, 2024

In today’s challenging market, higher interest rates and home values have created a unique opportunity for lenders to grow their home equity lending business. Despite the recent interest rate reduction , the demand for home equity products remains strong. According to ICE’s Mortgage Monitor , tappable home equity has grown by $5.5

Equity 370

Equity Lending Loans Renovation 370

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. The partner smiled. “

Loans 523

Loans Closing Mortgages Equity 523

Housing Wire

NOVEMBER 1, 2024

According to Davis, rising home prices have led homeowners to tap into their equity for purposes such as debt consolidation , home renovation and student loan repayment. The Deephaven HELOC has a maximum loan size of $400,000 and a max loan-to-value (LTV) ratio of 85%.

Equity 392

Equity Debt-to-income ratio Mortgages Investor 392

Housing Wire

AUGUST 22, 2022

Mortgage startup NFTYDoor plans to launch a home equity platform, promising borrowers “a one-minute online application and funding in as little as three days.” He’s entering a bright space: home equity products have become more popular given the surging value of homes used as collateral. Presented by: ServiceLink.

Equity 370

Equity MLS Renovation Loans 370

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 394

Loans Lending Finance Renovation 394

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

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

Keeping Current Matters

OCTOBER 13, 2021

If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The difference in the cost of a renovation versus a purchase. The great news is that the money you need probably already exists in your current home in the form of equity.

Renovation 324

Renovation Equity Mortgages Design 324

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

FHA loan 368

FHA loan Renovation Equity Loans 368

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 447

Mortgages Equity Loans Principal 447

Housing Wire

OCTOBER 24, 2024

But only about 17,000 delinquent loans completed the foreclosure process in the second quarter of 2024, almost one-third of the nearly 45,000 that completed the foreclosure process in Q1 2020. Often, the best available option for staying in the home is through a loan modification or some other type of repayment plan with the bank.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. So, it’s imperative to speak with a lender.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

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 459

Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

JULY 19, 2024

We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.” ” Our success is driven by our exceptional team and an expansive product portfolio.

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Lending New Construction Banks Renovation 460

Housing Wire

JUNE 14, 2024

Recent stagnation in refinancing loans, coupled with supply and demand discrepancies in housing, means originators still find themselves in an increasingly competitive landscape despite having expectations of the worst being over. However, a record $17 trillion of home equity is still available in the market.

Loans 448

Loans Banks Equity Development 448

Housing Wire

MAY 3, 2022

Nonbank heavyweight loanDepot will unveil a home equity line of credit (HELOC) product in the third quarter of 2022, the first offering of its recently launched mello business unit. ” Prospective borrowers can talk to a licensed loan officer if they prefer during the approval process, however. .

Equity 418

Equity Loan Officer Loans Technology 418

Housing Wire

OCTOBER 23, 2024

On Wednesday, UWM unveiled a new cash-out refinance product —dubbed Cash-Out 90—that allows borrowers to refinance with a loan-to-value ratio of up to 89.99% without requiring mortgage insurance (MI). Loan amounts, however, cannot exceed conforming limits. UWM is simply taking a lower margin, effectively,” he added.

Equity 448

Equity Loans Mortgages Loan Officer 448

Housing Wire

DECEMBER 1, 2022

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday.

Equity 468

Equity Renovation Banks Loans 468

Housing Wire

FEBRUARY 28, 2024

TF: A significant amount of volume could be added to an originator’s bottom line simply by offering Bank Statement loans, DSCR cash flow loans, and a stand-alone second lien product such as our Equity Advantage loan. Our DSCR loan for real estate investors qualifies on the rental cash flow of the subject property.

Debt-to-income ratio 456

Debt-to-income ratio Mortgages Banks Investor 456

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. The group will be branded as Shamrock, Powered by CMG Home Loans. 21, NMLS showed the lender had eight loan officers and 13 branches. year over year.

Loan Officer 447

Loan Officer Lending Loans Finance 447

Housing Wire

SEPTEMBER 19, 2024

Over the course of the past fiscal year, Heartland has seen its reverse mortgage portfolio grow by roughly 20%, with borrowers increasingly open to loans with terms described by the bank as more conservative. Nearly one-third of borrowers (31%) describe “additional income” as the reason for obtaining their loans. billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

Housing Wire

MAY 22, 2024

Some of the chains reporting increased renovation and modification activity include The Home Depot and Lowe’s , two of the largest home improvement retailers in the U.S. This means that renovations of existing homes are likely to become more necessary as time goes on.

Renovation 459

Renovation Equity Design Branding 459

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

JULY 8, 2024

We are pleased to partner with Shawn and the Archwest team to deliver dynamic financing solutions to home builders , renovators and landlords who are expanding and improving the critically undersupplied U.S. Its product mix includes fix-and-flip loans, bridge loans and construction loans.

Residential 435

Residential Lending Finance Investor 435

Housing Wire

AUGUST 27, 2021

Renovations Can Be Beneficial. This means you can potentially increase your home’s equity and lower your loan-to-value ratio. Renovations might make you feel better about putting your home on the market one day. Average cost: $26,214 Average resale value: $18,927 Cost recouped: 72.2%. Sliding Replacement. Bottom Line.

Renovation 459

Renovation Equity Loans Closing 459

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year.

Loans 435

Loans Renovation Construction Mortgages 435

Housing Wire

MAY 5, 2022

million to build and renovate 130 affordable homes in Nashville, Tennessee, bringing the total investment in the city to about $100 million. Amazon Housing Equity Fund will allocate a $7.1 million grant to local nonprofit CrossBridge ‘s 84-unit housing project, where 50 units will be newly built and the other 34 units renovated.

Equity 370

Equity Renovation Loans Development 370

Housing Wire

JANUARY 12, 2024

The original reporting described the amount of the loan as nearly one-fifth higher than the current $4 million limit for “HomeSafe,” the private-label product offered by FOA’s reverse mortgage division Finance of America Reverse (FAR). The company later told RMD, however, that the loan was within current product lending limits.

Mortgages 458

Mortgages Finance Lending Equity 458

Housing Wire

JUNE 20, 2024

The 2017 law also made interest from home equity loans non-deductible except for when the money is applied to home improvements or renovations. The eligible deduction was lowered from total mortgage balances of $1 million under prior law to $750,000.

Mortgages 497

Mortgages Renovation Equity Loans 497

Housing Wire

DECEMBER 2, 2022

Lenders who accurately predict the moment in time when a customer might require access to their home’s equity can act immediately and establish themselves as the ideal choice. The combined volume of home equity lines of credit (HELOCs) and traditional closed-end home equity loans are up 47% from January to May 2022.

Marketing 416

Marketing Equity Loans Renovation 416

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Equity 363

Equity Lending Finance Loans 363

Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

JULY 10, 2024

But when the apartment’s landlord declared that all units in the building would be renovated and force all current tenants out, the clock began ticking for a solution. Ultimately, after gaining a senior living waiver from the state of California , the family sought to find a better arrangement.

Mortgages 476

Mortgages Construction Renovation Loans 476

Housing Wire

MAY 18, 2022

HW: How can a reverse mortgage allow older Americans to take advantage of their existing equity without selling at a loss? CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. HW: Some borrowers are under the impression that reverse mortgages are a last resort.

Mortgages 418

Mortgages Equity Loans Lending 418