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 458

Equity Loans Debt-to-income ratio Renovation 458

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 361

Equity Finance Mortgages Bankruptcy 361

Housing Wire

AUGUST 5, 2024

trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 On top of that, tappable home equity reached a new high of $11.5 year-over-year increase, according to new data from ICE Mortgage Technology. million mortgage holders have access to $1 million or more. There are 4.6 There are 4.6

Equity 459

Equity Loans Mortgages Lending 459

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 482

Equity Mortgages Loans Marketing 482

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 468

Equity Mortgages As-is Marketing 468

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 448

Equity Mortgages Loans As-is 448

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 458

Equity Lending Banks Loans 458

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 448

Equity Loans Mortgages Finance 448

Housing Wire

MAY 15, 2024

Last month, Freddie Mac announced a plan to begin purchasing single-family closed-end second (CES) mortgages from lenders, a proposal now subject to a public comment review period before adoption. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.” Morgan and Saluda Grade.

Equity 489

Equity Loans Investor Mortgages 489

Housing Wire

JANUARY 8, 2025

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. Through Aspire, launched in September 2023, Redwood directly originates home equity investments (HEIs).

Equity 433

Equity Loans Lending Investor 433

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 426

Equity Loans Finance Mortgages 426

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 459

Equity Finance Mortgages As-is 459

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 418

Equity Mortgages Finance Marketing 418

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 429

Mortgages Equity Loan Officer Loans 429

Housing Wire

JANUARY 8, 2025

Heading into the 2025 housing market, we havent had this many homeowners with mortgage rates over 6% since 2016. of outstanding mortgages, around 8.7 million borrowers, carry a mortgage with an interest rate over 6%. had these cheap mortgages. People with expensive mortgages are more likely to sell their house.

Mortgages 488

Mortgages Finance Loans Equity 488

Housing Wire

JANUARY 10, 2025

in home values and a slight increase in senior-held mortgage debt have led to the total amount of senior-held home equity dropping from its all-time high. The new report states that senior-held equity peaked at a total of $14.09 billion) increase in senior-held mortgage debt, according to the report. home equity.

Equity 358

Equity Mortgages Sales As-is 358

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 370

Equity Mortgages Loans Design 370

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 395

Equity Investor Marketing Mortgages 395

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 529

Closing Mortgages Equity Loans 529

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 530

Mortgages Equity Sales Marketing 530

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

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 369

Equity Lending Loans Renovation 369

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

SEPTEMBER 23, 2024

Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments.

Lending 444

Lending Mortgages Equity Loan Officer 444

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 354

Equity Lending Residential Branding 354

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 446

Mortgages Principal Equity Loans 446

Housing Wire

SEPTEMBER 3, 2024

With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.

Mortgages 468

Mortgages Equity Finance Lending 468

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

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 459

Mortgages Equity Closing Loans 459

Housing Wire

JUNE 20, 2024

The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. Among the provisions established by the TCJA was a mortgage interest deduction for primary residences and second homes.

Mortgages 497

Mortgages Renovation Equity Loans 497

Housing Wire

SEPTEMBER 26, 2024

Extending the traditional 30-year mortgage to 40 or even 50 years. For families earning $91,551, a 30-year mortgage at 6% would require monthly payments exceeding $5,400, consuming more than 70% of their income. Government policies : Programs like mortgage forbearance kept homes off the market, tightening supply (Urban Institute).

Mortgages 488

Mortgages Equity Investor Loans 488

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 482

Mortgages Principal Equity Loans 482

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.

Lending 397

Lending Banks Mortgages Commercial 397

Housing Wire

JUNE 4, 2024

But while a fraud attempt targeting such a famous structure and family would easily make national news, the vast majority of title theft and mortgage fraud schemes do not. An alternative scam is to submit a mortgage application in your name to get cash out of the house.

Title 488

Title Sales Mortgages Equity 488

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 505

Mortgages Loans Lending Equity 505

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 397

Mortgages Equity Lending Loans 397

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 435

Mortgages Equity Loans Banks 435