Housing Wire

AUGUST 1, 2024

Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity. of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the estimated market value of those homes. in the first quarter of 2024 to 2.4%. points), Missouri (7.2

Equity 456

Equity Mortgages Loans Marketing 456

Housing Wire

OCTOBER 25, 2024

In prior conversations with HousingWire ’s Reverse Mortgage Daily (RMD), leaders of equity sharing companies contend that their products are different from reverse mortgages largely because they are not debt-based instruments. First, that it is a reverse mortgage under the state’s Consumer Loan Act.

Equity 416

Equity Mortgages Loans As-is 416

Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco -based Unison calls its new offering the Equity Sharing Home Loan. home equity by the end of this year.

Equity 388

Equity Loans Debt-to-income ratio Renovation 388

Housing Wire

OCTOBER 4, 2024

Homeowners 62 and older saw their collective home equity levels rise in the second quarter of 2024 by roughly $600 billion, increasing to a total of $14 trillion and continuing a streak of forward momentum observed in the first quarter. billion) increase in senior-held mortgage debt. There was an estimated 3.97% (or $624.6

Equity 416

Equity Mortgages As-is Marketing 416

Housing Wire

DECEMBER 8, 2024

mortgage holders experienced a home equity increase in the third quarter of 2024 up 2.5% But that was down from 8% growth in the second quarter, and negative equity also ramped up for the first time in two years, according to a CoreLogic report. But CoreLogic noted that negative equity actually declined by 3% from Q3 2023.

Equity 276

Equity Mortgages Closing 276

Housing Wire

NOVEMBER 20, 2024

In today’s economy, mortgage rates and housing expenses have consistently risen. However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market.

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Equity Finance Marketing Lending 300

Housing Wire

JULY 15, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , announced Monday that it has decided to waive the $795 origination fee charged to broker partners on home equity loans. However, as we all know, borrowers don’t want to touch their first mortgages because they have lower interest rates, which is completely understandable.

Equity 398

Equity Loans Mortgages Finance 398

Housing Wire

SEPTEMBER 4, 2024

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. Non-depository lenders in the study included Freedom Mortgage , loanDepot , Rate and Rocket Mortgage. Bank and Wells Fargo.

Equity 399

Equity Lending Banks Loans 399

Housing Wire

NOVEMBER 19, 2024

Homeowners are sitting on a record level of about $35 trillion in home equity — more than double the equity levels recorded prior to the financial crisis and housing market collapse of the late 2000s. But a major indicator of the ability for a homeowner to be able to feasibly tap their equity centers on age. homeowners.

Equity 397

Equity Mortgages Finance Marketing 397

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. Stated differently, you are dealing with individuals that may be in an equity prison.

Equity 449

Equity Loans Bankruptcy As-is 449

Housing Wire

SEPTEMBER 5, 2024

This is one reason why home equity can be a notable difference-maker and should be part of the conversation. Long-term care should be a key consideration, and one potential way to address these costs and other spending goals is to incorporate home equity, according to Block.

Equity 406

Equity Finance Mortgages As-is 406

Housing Wire

NOVEMBER 12, 2024

Cornerstone Financing , a venture co-founded by former Reverse Mortgage Funding (RMF) CEO Craig Corn, has secured $285 million in financing through global investment firms Aquiline Capital Partners LP and Nomura. The product operates similarly to a shared equity investment. 31 of that year.

Equity 273

Equity Finance Mortgages Bankruptcy 273

Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. But some financial advisers are hesitant to recommend the strategy.

Equity 422

Equity Loans Finance Mortgages 422

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. FHFA Director Sandra Thompson explained that such options are needed in the current mortgage rate environment.

Closing 512

Closing Mortgages Equity Loans 512

Housing Wire

MARCH 1, 2024

They may also see the equity in their homes as a “financial reserve” and are generally confident in their retirement plans, but they are far less interested in employing their home equity in retirement. By and large, homeowners who are 60 and older love where they live and have a preference to age in place.

Equity 452

Equity Mortgages As-is 452

Housing Wire

DECEMBER 4, 2024

But some existing homeowners and investors may feel differently as a trend of home equity growth was found across 45 states. Home equity solutions provider Unison released its 2024 Home Equity Report on Tuesdsay. ” Home equity also grew based on higher prices, reaching $35 trillion at the end of the second quarter.

Equity 321

Equity Investor Marketing Mortgages 321

Housing Wire

MARCH 22, 2024

Home equity levels among homeowners aged 62 and older are at record levels following the end of the pandemic. As a result, reverse mortgages may no longer be considered a “loan of last resort” as financial planners aim to highlight their uses as part of a comprehensive financial plan in retirement. The beneficiaries can get more.

Mortgages 465

Mortgages Equity Finance Loans 465

Housing Wire

DECEMBER 16, 2024

Homeowners have generally done well over the last few years in accumulating home equity wealth. Since the onset of the pandemic, average equity per borrower increased by about $117,000 nationally, totaling almost $312,000 per mortgaged borrower. Aggregated across borrowers with a mortgage, home equity adds up to almost $17.5

Equity 293

Equity Mortgages Loans Design 293

Housing Wire

SEPTEMBER 17, 2024

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. The product, which rolled out on Tuesday, combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. Unison has more than $1.8

Equity 337

Equity Loans Finance Mortgages 337

Housing Wire

FEBRUARY 6, 2024

The survey showed that nearly 15% net share of banks reported having tightened standards on non-qualified-mortgage (QM) jumbo residential loans (14.6%) and QM jumbo loans (15.4%) in the fourth quarter. A 50%-plus net share of all U.S. The survey showed that a net 25.5% of banks reported weaker demand for HELOCs.

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Residential Lending Banks Mortgages 486

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 475

Mortgages Equity Sales Marketing 475

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. 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.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

NOVEMBER 13, 2024

Reverse mortgage educators Dan Hultquist and Jim McMinn brought their “Rules of the Game” presentation back to this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego. Wilson,” began McMinn to a hypothetical reverse mortgage customer. The whistle blew immediately.

Equity 285

Equity Mortgages Principal Loans 285

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 346

Mortgages Equity Loan Officer Loans 346

Housing Wire

APRIL 15, 2024

Caregiving challenges can be compounded if there’s only one child in the family, but a reverse mortgage could offer a solution, according to a column published by Reuters. Industry educators have long aimed to position a reverse mortgage as a financial planning tool for retirement. The beneficiaries can get more.

Mortgages 463

Mortgages Equity Loans As-is 463

Housing Wire

JUNE 21, 2024

The Federal Housing Finance Agency (FHFA) on Friday announced that it has given conditional approval for Freddie Mac to begin purchasing closed-end second mortgages through a pilot program. The program is only for primary residences and the first mortgage must have a minimum seasoning period of 24 months. Thompson said in a statement.

Mortgages 435

Mortgages Equity Closing Loans 435

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.

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FHA loan Mortgages Equity Loans 324

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgages 436

Mortgages Loan Officer Brokerage Lending 436

Housing Wire

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. I was wondering if you guys could explain reverse mortgages,” the listener asked the group.

Mortgages 439

Mortgages Equity Title Loans 439

Housing Wire

AUGUST 6, 2024

The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. Several reported that mortgage rates rose again on Tuesday due to weaker mortgage-backed securities prices.

Mortgages 491

Mortgages Loans Lending Equity 491

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. Origination volume forecast for 2024 Fannie Mae forecasts the total single-family mortgage originations volume to be $1.98 million in Q4 2023.

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. The recently announced increase to the HECM limit is exciting news for reverse mortgage borrowers,” she told RMD in a statement.

Mortgages 338

Mortgages Equity Lending Loans 338

Housing Wire

JANUARY 9, 2024

One potential product that could assist in paying for LTC and its insurance could be a reverse mortgage, according to personal finance publication Kiplinger. This is where a reverse mortgage could become a viable option for certain retirees, he explained. “[A population grows older in the coming years.

Mortgages 500

Mortgages Equity Finance Industrial 500

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 445

Mortgages Principal Equity Loans 445

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 376

Mortgages Equity Loans Principal 376

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 309

Equity Lending Loans Renovation 309

Housing Wire

OCTOBER 16, 2024

United Wholesale Mortgage (UWM) announced on Wednesday that it’s offering a conventional cash-out loan product with a loan-to-value (LTV) ratio of up to 90% and no mortgage insurance. The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 was $766,550. The offering has some limitations.

Mortgages 407

Mortgages Equity Loans Banks 407