Housing Wire

OCTOBER 29, 2021

The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Seniors’ response to alternative equity tapping since COVID-19 onset. Eoin Matthews, CBO and co-founder of Point.

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Equity Mortgages Principal As-is 418

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Keeping Current Matters

JUNE 23, 2021

In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

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Equity Principal Mortgages Loans 311

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. A group of investors led by the former U.S. to assist with capital generation.

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Equity Mortgages Banks Commercial 443

Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. From NAR: Total existing-home sales waned 7.7%

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Sales Mortgages Short sale Principal 531

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

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Keeping Current Matters

DECEMBER 21, 2021

But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb , your equity does too.

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Equity Principal Loans As-is 311

Housing Wire

MARCH 5, 2024

Its owned servicing portfolio reached $78 billion in unpaid principal value (UPB) at the end of 2023, with a carrying value of $1.1 We estimate that an MSR sale could benefit CET 1 by 10-15 bp.” Measured by its common equity tier 1 (CET1) ratio, the bank’s capitalization fell to 9.1% to assist with capital generation.

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Sales Banks Principal Loans 467

Keeping Current Matters

JANUARY 6, 2021

This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”. To estimate your equity, subtract your mortgage balance from the market value of your home.

Equity 306

Equity Principal Mortgages As-is 306

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. Lisa Moriello is the National Reverse Sales Manager at loanDepot.

Mortgages 482

Mortgages Principal Equity Loans 482

Housing Wire

JULY 7, 2021

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM). The sale of Champion. in a deal valued at $500 million in cash and retained interest.

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Sales Mortgages Branding Principal 418

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

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Marketing Equity Loans Bankruptcy 529

Housing Wire

AUGUST 6, 2024

Its pull-through gain-on-sale margin was 3.22% in Q2 2024, compared to 2.74% in Q1 2024 and 2.85% in Q2 2023. We opportunistically took advantage of strong market conditions and monetized approximately $29 billion of unpaid principal balance of our mortgage servicing rights.

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Purchase and sale agreement Principal Loan Officer Mortgages 448

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgages 468

Mortgages Principal Equity Loans 468

Housing Wire

APRIL 30, 2024

At the end of March, Rithm had $587 billion in unpaid principal balance, relatively unchanged from the end of December and up 15% year over year. Gain-on-sale margins marginally recovered to 1.29% in the first quarter, up from 1.23% in the previous quarter. million in pretax income. This is not a race to get bigger.

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Mortgages Equity Principal Finance 468

Housing Wire

OCTOBER 19, 2023

This positions our associates to adapt and thrive in the market from both a business growth and technology innovation standpoint,” Matthew Mullin, principal and founder of The Mullin Blankfeld Group, said in a statement. “It It ranked 8th for residential sales volume, with a total of $46,687,375. The Blankfeld Group came in No.

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Principal Technology Equity Residential 435

Housing Wire

JUNE 26, 2024

The first is for up to $200 million in aggregate principal of senior secured first-lien notes due in 2026, while the second is for up to $150 million in aggregate principal of exchangeable senior first-lien notes due in 2029. 1 lender in the country with 7,784 endorsements in the 12-month period ending on May 31, 2024.

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Housing Wire

JULY 1, 2024

Devon Bevis Senior Vice President Correspondent & Co-Issue Sales Mr. Cooper Dionna Hall Chief Executive Officer Broward, Palm Beaches & St.

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Housing Wire

MARCH 6, 2023

About 25% fewer homes were listed for sale in January than normal, which is why inventory fell last month, despite home sales hitting more than a seven-year low. of the median household income to make the monthly principal and interest payments on the average home purchase. Months of supply stagnated at about 3.1

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Marketing Equity Principal Mortgages 418

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. million in fourth-quarter 2023.

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Housing Wire

AUGUST 1, 2024

Leaders at the Detroit-based Rocket Companies say they will continue to invest in artificial intelligence (AI) to gain operational efficiency and grow their servicing portfolio, creating opportunities for refinances and home equity loans down the road. They will also keep chasing purchase market share. “We’re Rocket originated $24.6

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Marketing Equity Loans Principal 447

Housing Wire

FEBRUARY 3, 2022

Incenter Mortgage Advisors was flooded with a surge of mortgage-servicing rights business in January — with bulk MSR sales approaching in one month what the firm normally tallies in an entire year. In fact, five of the deals involved MSRs pegged to loan pools that exceeded $10 billion in unpaid principal balance. million to $23.7

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Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

JUNE 14, 2022

Other contributing factors to the decline were rising home prices and the resulting equity gains providing alternative options to those who may be coming out of forbearance or facing foreclosures, said CoreLogic’s report. . About 2.7% of all mortgages in the U.S. were delinquent in March, dropping 2.2 percentage points from the 4.9%

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Mortgages Staging Principal Equity 370

Housing Wire

SEPTEMBER 3, 2024

Leaning on education Shannon Robinson Shannon Robinson, senior vice president of the reverse mortgage division at New American Funding (NAF), said the company remains committed to the prospect of borrower education regarding its full range of home equity products. This would go doubly in a more favorable rate environment.

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Mortgages Equity Finance Lending 468

Housing Wire

FEBRUARY 17, 2021

Alexander, now rebranded as @properties , is a four-year-old firm with 45 agents and $120 million in 2020 sales volume that has so far focused on downtown Detroit. billion in 2019 sales, according to RealTrends. But in 2018, a private equity firm, Charlottesville, Virginia-based Quad-C Management, took a stake in the company.

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Brokerage Principal Technology Equity 418

Keeping Current Matters

NOVEMBER 10, 2020

In a simple equation, the National Association of Realtors (NAR) explains how the combination of paying your mortgage and home price appreciation grow overall wealth: Principal Payments + Price Appreciation Gains = Housing Wealth Gain. As home values increase and you make payments toward your home loan, you’ll gain wealth through equity.

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Equity Principal Finance Loans 345

Housing Wire

DECEMBER 11, 2023

We locked in rates probably 25% more during that same period,” said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “We There is a lot more inquiry for home equity line credit. We’ve already seen there is more of a focus on home equity lines of credit and cash out refinances.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

OCTOBER 10, 2024

According to the BofA report, there are 833,268 mortgages originated in the affected regions and securitized into residential mortgage-backed securities (RMBS), totaling $96 billion in unpaid principal balance (UPB). Most of them are in Florida (53%), followed by North Carolina (19%), South Carolina (18%), Georgia (8%) and Virginia (3%).

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Loans Equity Principal Residential 375

Housing Wire

AUGUST 9, 2022

The gain-on-sale margin also nosedived to 1.16% in the second quarter, down from 1.96% in the previous quarter. The contribution from the digital home equity line of credit (HELOC) to increase revenues in 2022 will be “modest,” as it will be launched by the fourth quarter, Martell said. billion and $10.5 in cash on hand.

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Closing Principal Lending Loans 497

Housing Wire

FEBRUARY 13, 2023

In April 2022, Deephaven appointed Anthony Gulotta to lead its wholesale sales on the East Coast and in June, Paul Howarth as its regional vice president of wholesale sales, to expand the firm’s non-QM footprint in the western half of the country. among others. million security backed by non-QM mortgages.

Mortgages 397

Mortgages Principal Banks Equity 397

Housing Wire

SEPTEMBER 16, 2022

Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest. In August and September, Rocket Mortgage and Rocket Pro TPO announced the offering of home equity loans to capitalize on record home equity levels. billion from $53.8

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

JANUARY 17, 2024

For real estate professionals, this option presents an opportunity to capture more sales. But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Mr. Cooper had 4.1 ” Acquisition mode for Mr. .”

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Principal Banks Equity Loans 397

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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Technology Title Development Lending 476

Housing Wire

MAY 3, 2022

Continued home price growth, which Fannie Mae predicts will decelerate from 19% year-over-year in 2021, to around 11% in 2022, increases borrowers equity. That increase can reduce the risk of loan impairment — since borrowers with more equity are less likely to default — and lead to new cash-out refis for even higher principal amounts.

Mortgages 397

Mortgages Marketing Equity Loans 397

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages 448

Mortgages VA loan Principal Loans 448

Housing Wire

DECEMBER 29, 2023

Matt Weaver , VP of mortgage sales at CrossCountry Mortgage I recently got licensed in the state of Ohio because that’s where I’m from. We look at all that and then we look at the size of the sales team, who we’ve recruited, what we think how much business will pick up. Home equity is really a no-brainer today.

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Mortgages Loan Officer Loans Equity 476