Housing Wire

FEBRUARY 12, 2025

California-based mortgage lender loanDepot on Wednesday announced the expansion of its equityFREEDOM portfolio to provide nearly 50 million U.S. homeowners with access to their tappable home equity. loanDepots home equity loan lets customers access the equity in their homes in a lump sum in one of three, fully amortizing loan terms.

Equity 370

Equity Loans Lending Mortgages 370

Housing Wire

NOVEMBER 15, 2024

The statement was enough to raise mortgage rates to an even higher level, a sharp departure from the optimism lenders experienced during the September rally, which now seems like a distant memory. “We At Mortgage News Daily , rates were at 7.02% on Thursday afternoon. We are moving policy over time to a more neutral setting.

Mortgages 531

Mortgages Equity Sales Marketing 531

Housing Wire

MARCH 13, 2025

Home equity increased nationally by $281.9 year over year, according to the latest CoreLogic Homeowner Equity Report (HER), released Thursday. But the report also noted rising negative equity in some sunbelt states, along with Oregon and Washington, D.C. The average borrower had $303,000 in home equity at the end of 2024.

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Equity Mortgages Residential As-is 278

Housing Wire

DECEMBER 20, 2024

House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans.

FHA loan 418

FHA loan Mortgages Equity Loans 418

Housing Wire

OCTOBER 18, 2024

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in.

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Equity Finance 448

Housing Wire

JANUARY 24, 2025

Business-purpose residential mortgage lender Dunmor announced Thursday that it has received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. According to Dunmor, the investment is an extension of an original partnership initiated in June 2024.

Equity 367

Equity Lending Residential Branding 367

Housing Wire

OCTOBER 29, 2024

Employment data for October is set to be released Friday, and it will go a long way in determining the path for mortgage rates, which have surged upward in the past month. At HousingWire’s Mortgage Rates Center on Tuesday, the average rate for 30-year conforming loans was 6.72%. This equated to homes being 9.2% renter population.

Mortgages 448

Mortgages Equity Loans Marketing 448

Housing Wire

OCTOBER 29, 2024

Economists pointed to lower mortgage rates as the reason for slower growth. Despite the Federal Reserve’s half-point interest rate cut in September, rates for 30-year conforming loans have climbed back up to 6.7%, according to HousingWire ’s Mortgage Rates Center. gain year over year, less than the 4.8% gain from July.

Mortgages 487

Mortgages MLS Equity Loans 487

Housing Wire

APRIL 7, 2025

Wade Pfau, a professor of retirement income at the American College of Financial Services and an expert who has advocated for the strategic employment of reverse mortgages in retirement planning, told the Times that short-term tumult in close proximity to the actual retirement date can have an impact on the stability of a portfolio.

Mortgages 360

Mortgages Equity Marketing As-is 360

Housing Wire

NOVEMBER 12, 2024

Finance of America (FOA), the leading reverse mortgage lender, presented a robust outlook last week in its third-quarter 2024 earnings and is aiming to hit the ground running with business in 2025. The product was first introduced in 2018, marking the industry’s first-ever second-lien reverse mortgage option.

Mortgages 370

Mortgages Equity Lending Design 370

Housing Wire

OCTOBER 24, 2024

Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. It is utilizing a cross-selling strategy that offers additional products to its existing customers in an evolving mortgage landscape.

Mortgages 448

Mortgages Technology Equity Industrial 448

Housing Wire

APRIL 10, 2025

Reverse mortgage professionals have long sought financial advisors as referral sources, but might find that those professionals are not particularly willing to entertain the notion that the product would be right for their clients.

Mortgages 402

Mortgages Marketing Principal Lending 402

Housing Wire

JANUARY 17, 2025

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. That is bad news for banks like WaFd Bank, because it has made the business of originating mortgages for our portfolio unsustainable.

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Lending Banks Mortgages Commercial 397

Housing Wire

APRIL 8, 2025

Fairway Independent Mortgage Corp. announced the incorporation of hybrid e-closings for reverse mortgages on Tuesday, aiming to incorporate its experience with the technology on the forward side of the mortgage business into its reverse mortgage division for the first time. Fairway Independent Mortgage Corp.

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Closing Mortgages Lending Technology 313

Housing Wire

NOVEMBER 21, 2024

Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.

Mortgages 370

Mortgages Loan Officer Equity Lending 370

Housing Wire

NOVEMBER 7, 2024

Guild Mortgage CEO Terry Schmidt said during a third-quarter earnings call on Wednesday that Guild’s reverse mortgage division continues to contribute to companywide strategies, and that additional interest in reverse has been observed. The aging and demographics [provide] great opportunity.

Mortgages 370

Mortgages Equity Lending Branding 370

Housing Wire

APRIL 9, 2025

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) related to the Home Equity Conversion Mortgage ( HECM ) program, there are four open recommendations according to a review by HousingWire ‘s Reverse Mortgage Daily (RMD). Three of them, however, are largely centered on the same issue.

Mortgages 388

Mortgages Principal Loans Equity 388

Housing Wire

FEBRUARY 11, 2025

The Oregon state senates Committee on Housing Development held a hearing last week on a piece of proposed legislation that seeks to limit the amount of equity a reverse mortgage lender can receive after the sale or transfer of a property. Senate Bill (SB) 534 is positioned primarily as a consumer protection measure.

Mortgages 321

Mortgages Equity Industrial Loans 321

Housing Wire

JANUARY 3, 2025

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.

Mortgages 418

Mortgages Lending Loan Officer Loans 418

Housing Wire

DECEMBER 5, 2024

As consumer debt reaches all-time highs and the cost of living continues to escalate, home equity investment fintech Splitero on Thursday announced a purchase commitment from funds managed by asset manager Blue Owl Capital. mortgage holders held $17.2 trillion in equity, of which $11.2 At the end of third-quarter 2024, U.S.

Equity 391

Equity Technology Brokerage Mortgages 391

Housing Wire

OCTOBER 10, 2024

Mortgage lenders can also benefit from these projects through a variety of products, including home equity lines of credit (HELOCs). The vast amount of home equity accumulated across the country could be a path to addressing these issues. And there are now 32 million borrowers who have at least $100,000 in tappable equity.

Renovation 476

Renovation Equity Lending Banks 476

Housing Wire

DECEMBER 27, 2024

Reverse mortgage business and mortgage business generally is not where people want it to be. That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. I think that’s true from an industry standpoint.

Industrial 397

Industrial Mortgages Principal Lending 397

Housing Wire

FEBRUARY 3, 2025

There is constant movement in the mortgage industry with the desire for growth and expansion. Thus, it has never been more important to focus on due diligence in analyzing a mortgage industry acquisition target. Regulatory compliance The mortgage industry is heavily regulated and subject to scrutiny by both State and Federal agencies.

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Due diligence Purchase and sale agreement Industrial Mortgages 418

Housing Wire

NOVEMBER 14, 2024

With several top 10 reverse mortgage lenders now active in some form within the U.S. 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.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

DECEMBER 23, 2024

Over the past year, members of the reverse mortgage industry have been making a more concerted effort to connect with their counterparts in the forward mortgage space. And some reverse-only companies have aimed to establish firmer ties with the much larger forward mortgage industry.

Lending 396

Lending Mortgages Industrial Finance 396

Housing Wire

NOVEMBER 13, 2024

Founder and CEO Vishal Garg made a eye-popping statement when he opined that “in the next 10 years, 99% of the (mortgage) tasks will be completed by bots and 1% by humans.” “The bulk of the tasks that are required to process a mortgage are going to be performed by AI bots over the next 10 years,” Garg said in an interview with HousingWire.

Mortgages 370

Mortgages Loan Officer Loans Technology 370

Housing Wire

DECEMBER 9, 2024

Although no person can truly predict mortgage rates for there are several factors involved; Industry forecasts predict interest rates will hover between 5.5% Get prepped early: Speak with a mortgage professional now to position yourself for success when the right home hits the market. A Mortgage Agency. Around 7.5%.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

Housing Wire

FEBRUARY 7, 2025

A bill introduced into the Oregon Senate that seeks to limit the amount of equity a reverse mortgage lender can receive after the sale or transfer of a property could potentially halt the availability of proprietary product offerings in the state. The proposal was introduced by Sen. Deb Patterson (D-Salem) and is co-sponsored by Sen.

Mortgages 327

Mortgages Equity Lending Commercial 327

Housing Wire

FEBRUARY 6, 2025

Interestingly, Batey noted that he and his office have observed a higher level of interest in reverse mortgages from seniors in the area. They’ve got a lot of equity , and so they’re able to tap into that to help with living expenses. And that situation is not unlike countless others from coast to coast.

Mortgages 441

Mortgages Staging Equity Loans 441

Housing Wire

SEPTEMBER 12, 2024

Home equity continued to rise in the second quarter of 2024 as residential properties with mortgages collectively gained $1.3 trillion in equity over the past year. But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. million homes.

Equity 508

Equity Mortgages Residential As-is 508

Housing Wire

APRIL 1, 2025

An alternative home equity-tapping product backed by former executives from a reverse mortgage lender has been rolled out to several additional states, following an earlier move that secured hundreds of millions of dollars in financing. In 2013, Corn and his partners launched RMF , which became a leading reverse mortgage lender.

Equity 234

Equity Finance Mortgages Design 234

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash.

Loans 333

Loans Mortgages Equity Construction 333

Housing Wire

APRIL 4, 2025

Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. Platinum Peak is now available in at least two reverse mortgage loan origination systems (LOS) for brokers.

Mortgages 327

Mortgages Principal Loans Equity 327

Housing Wire

JUNE 7, 2024

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. home equity over the past year brought total net equity to more than $17 trillion at the end of Q1 2024.

Equity 518

Equity Residential Mortgages Closing 518

Housing Wire

MARCH 10, 2025

A reverse mortgage could have benefits for a qualifying borrower, but anyone considering these loans should also be mindful of the potential risks. A reader who asked Weston to weigh in on the product relayed the story of their 94-year-old mother, who took out a reverse mortgage in her late 60s thinking she would not live past her 80s.

Mortgages 311

Mortgages Equity Loans Finance 311

Housing Wire

APRIL 8, 2025

Empower Mortgage , part of the Equity Prime Mortgage family of brands, has appointed Rogelio Goertzen as its chief growth officer. Goertzen, the founder of Hispanic Organization of Mortgage Experts (HOME), said in a statement that for many first-generation Americans, homeownership represents more than just buying a house.

Mortgages 300

Mortgages Equity Branding Loans 300

Housing Wire

MARCH 31, 2025

Rocket Companies is buying Mr. Cooper , America’s largest mortgage servicer, in a market-shattering deal that could reshape the mortgage industry for years to come. billion , is paying an equity value of $9.4 That’s one out of every six mortgages in America. trillion, spread across nearly 10 million clients.

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Finance Title Mortgages Equity 468