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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. Read on to find out.

Equity 533
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The biggest challenge for the reverse industry in 2024? Mortgage rates

Housing Wire

With Home Equity Conversion Mortgage (HECM) volume declining on an annual basis, many industry participants cited at least one key factor that couldve driven the decline, but the view was not universal. Peter Sciandra, who serves as EVP of reverse lending secondary marketing at Fairway Independent Mortgage Corp.

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A closer look at investor attitudes and trends in reverse mortgage stocks

Housing Wire

stock market, companies like Finance of America (FOA) and Ellington Financial — the parent of reverse lender Longbridge Financial — have recently released their third-quarter 2024 earnings results. With several top 10 reverse mortgage lenders now active in some form within the U.S.

Investor 370
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Rithm expects ‘normalized’ refi levels to return after Q3 spike

Housing Wire

I think we’re going to get ourselves more to what I’ll say is the market on a normalized basis,” Newrez President Baron Silverstein told analysts in an earnings call on Tuesday. Candidly, we have to figure out a way to get our equity price to trade where it should,” Nierenberg told analysts. “So,

Equity 435
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Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

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 476
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PennyMac’s 2024 performance driven by strong servicing portfolio

Housing Wire

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 For 2024 as a whole, the California -based lender earned a profit of $311.4 million, up from $144.7 million in 2023. Its net revenue grew from $1.4 billion to $1.6 Pretax income for the final quarter of 2024 was $129.4

Principal 366
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loanDepot returns to profitability, announces new strategic plan 

Housing Wire

Chief financial officer David Hayes said in a statement that in the third quarter, there was a “modest improvement in the mortgage market, coupled with the company’s positive operating leverage,” which fueled the return to profitability. “As Regarding loanDepot’s servicing portfolio, the unpaid principal balance (UPB) increased to $114.9