Housing Wire

FEBRUARY 17, 2021

But in 2018, a private equity firm, Charlottesville, Virginia-based Quad-C Management, took a stake in the company. In exchange, @Properties is offering its marketing department, their proprietary technology @platform, and potential financial assistance in a firm’s expansion. billion in 2019 sales, according to RealTrends.

Brokerage 410

Brokerage Principal Technology Equity 410

Housing Wire

JUNE 6, 2024

ADUs create new housing opportunities in existing neighborhoods, expanding the housing supply while building homeowner equity,” David Driskell, principal at CPC, said in a statement. Last month, a Las Vegas-based housing technology startup received approval to sell factory-built ADUs in California.

Construction 468

Construction Principal Design Equity 468

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 475

Technology Title Development Lending 475

Housing Wire

OCTOBER 13, 2021

has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform.

Mortgages 387

Mortgages Loan Officer Investor Loans 387

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

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 serviced 2.6

Marketing 432

Marketing Equity Loans Principal 432

Housing Wire

OCTOBER 2, 2023

While the average unpaid principal balance of borrowers entering a refinance has fallen from $319K in early 2020 to $183K in August 2023, it is even lower ($165K) among cash-outs specifically. Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Mortgages 448

Mortgages Equity Lending Principal 448

Housing Wire

MARCH 7, 2024

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination volume on a dollar amount basis in the months ahead.

Mortgages 435

Mortgages Marketing Equity Finance 435

Housing Wire

OCTOBER 26, 2021

million in equity and $24 million in debt – valued the company at $450 million. Tom Richardson, head of strategic capital principal technology investments at Wells Fargo Strategic Capital, said in a statement that the capital “will help them achieve their business goals and continue to expand their product offering.”.

Mortgages 396

Mortgages Loans Principal Investor 396

Housing Wire

JULY 23, 2024

“PennyMac Financial generated strong earnings in the second quarter with an annualized operating return on equity of 16%,” chairman and CEO David Spector said in prepared remarks. billion in unpaid principal balance (UPB) at the end of June, up 2% on a quarterly basis and up 10% on a yearly basis.

Technology 444

Technology Loans Principal Mortgages 444

Housing Wire

MARCH 2, 2021

The transaction is expected to provide up to $645 million in cash proceeds and a fully committed private investment in public equity (PIPE) of $300 million. Doma, founded in 2016, says its patented machine-learning technology reduces title processing time from five days to five minutes. ” Doma saw revenues of $179.8

Title 412

Title Equity Principal Branding 412

Housing Wire

JULY 15, 2021

In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. Cofounder Nora Apsel said Morty’s funding came entirely in the form of equity, and that the company has raised more than $38 million to date. For repeat buyers purchasing single-unit homes, the minimum down payment is 5%.

Principal 397

Principal Loans Equity Mortgages 397

Housing Wire

FEBRUARY 13, 2023

“I’m excited to help us innovate our operations and leverage technologies to build on that advantage…” Prior to joining Deephaven, Drago was the chief operations officer for the Southeast and Mountain West divisions of Guaranteed Rate. among others. million security backed by non-QM mortgages.

Mortgages 386

Mortgages Principal Banks Equity 386

Housing Wire

MAY 6, 2022

The firm’s earnings were driven by its servicing portfolio and about $520 billion in unpaid principal balance, said David Spector, chairman and chief executive officer of PennyMac in an earnings call. billion in unpaid principal balance, down 36% from the previous quarter and 32% from the first quarter of 2021. million, down from $106.5

Principal 368

Principal Loans Technology Mortgages 368

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. Both firms will maintain their existing brands and teams.

Investor 366

Investor Sales Mortgages Loan Officer 366

Housing Wire

JULY 31, 2024

Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0. The HMBS program is extremely critical for originations and to fund growth for issuers. program over time.”

Development 433

Development Principal Industrial Mortgages 433

Housing Wire

AUGUST 26, 2022

HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Equity can be used for any number of purposes, including home improvements. HW: Mortgage technology is accelerating quickly and originators are rushing to keep pace. Lee Smith: Definitely.

Mortgages 369

Mortgages VA loan Loans Technology 369

Housing Wire

AUGUST 7, 2023

In addition, Compass also reported an increase of 429 principal agents compared to a year ago and a retention rate of over 90%. “We Greg Hart, Compass’ chief operating officer, added: “We continue to grow our principal agent count since we eliminated cash and equity sign on incentives last summer. Maryland and Virginia.

Brokerage 370

Brokerage Principal Title Equity 370

Housing Wire

DECEMBER 29, 2023

Strategies for 2024 I’m heavily focused on recruiting , improving technology and marketing, empowering the loan officers — by giving them the same technology and marketing support. Jon Overfelt, director of sales and principal at American Security Mortgage Corp. Home equity is really a no-brainer today.

Mortgages 476

Mortgages Loan Officer Loans Equity 476

Housing Wire

JANUARY 5, 2022

billion in unpaid principal balance (UPB). This transaction will facilitate AAG making disciplined investments into the core of our business, namely: technology, expansion of key initiatives, and the customer experience, as our customers are the heart and soul of what drives us at AAG,” he said.

Mortgages 416

Mortgages Loans Principal Industrial 416

Housing Wire

OCTOBER 28, 2020

CNBC reported on Wednesday that multiple parties were interested in pursuing a deal with CoreLogic, and that these include private equity firms. The Company does not intend to comment further on market speculation or disclose further developments unless and until it deems further disclosure to be appropriate or required.”.

Principal 370

Principal Investor Equity Technology 370

Housing Wire

JANUARY 12, 2024

Principal among these are: Invested capital “requires” the highest return. Optimize technology to create innovative financing options for first-time housing buyers at lower rates and prices, sacrificing per-unit economics for volume and community-building. This area is a failure of proptech, abject to be sure. Why is this the case?

Finance 442

Finance Principal Residential Development 442

Housing Wire

JANUARY 13, 2021

With deferral plans, servicers are required to combine the borrower’s missed payments, including principal, interest and escrow, and report the total sum – not a breakdown – to investors. The technology will also need to facilitate quick decisioning, while helping servicers remain complaint. But here’s the dilemma.

Mortgages 486

Mortgages Investor Loans Technology 486

Housing Wire

FEBRUARY 9, 2024

trillion of unpaid principal balance (UPB) in mortgage servicing rights (MSR) by the end of March, a target announced in July 2021 when the portfolio was at $650 billion. You have to build and invest in technology. Dallas-based Mr. Cooper is expected to reach $1.1 It ’s a scale business. The key for us is sustainability.

Loans 433

Loans Principal Equity Banks 433

Housing Wire

MAY 5, 2021

The decline in profit during the first quarter came partly as a result of the lender’s IPO, which resulted in $59 million in stock grants to its private equity backers and leadership. The unpaid principal balance of our servicing portfolio increased by 26% to $129.7

Marketing 349

Marketing Technology Branding Loans 349

Housing Wire

NOVEMBER 17, 2022

Of those issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.” ” A multiple is a measure of the price of an MSR loan pool, which is expressed as a percentage of the unpaid principal balance divided by the servicing fee.

Marketing 445

Marketing Lending Loans Principal 445

Housing Wire

AUGUST 29, 2022

billion in equity as of the second quarter, plus technology that can close loans faster than most competitors, aggressive pricing is a “multibillion dollar decision investment,” as Ishbia put it. His tangible net worth ratio (a proxy of how much equity you have relative to your total assets) is just under 30%.

Loans 435

Loans Loan Officer Equity Mortgages 435

Housing Wire

MARCH 12, 2024

The reduction was impacted by its exit of the wholesale channel in 2022, and it was partially offset by growth in servicing income and home equity lines of credit (HELOCs), as well as higher margins. loanDepot’s unpaid principal balance in its servicing portfolio increased to $145 billion as of Dec. billion in 2023. 31, up from $143.9

Principal 437

Principal Mortgages Equity Technology 437

Housing Wire

APRIL 28, 2022

Mr. Cooper sold certain intellectual property rights related to its cloud-based technology platform for Sagent and received a minority equity stake in the fintech company. . Mr. Cooper ended the first quarter with $796 billion in unpaid principal balance (UPB), a 12% increase quarter-over-quarter and a 27% growth year-over-year.

Principal 370

Principal Mortgages Equity Closing 370

Housing Wire

FEBRUARY 10, 2023

The performance was impacted by a mark-to-market of $58 million, adjustments related to severance and property consolidation of $23 million, and equity investment losses of $10 million. trillion in unpaid principal balance (UPB) that needs to be sold in the market. Cooper expects a cycle-wide opportunity for MSR acquisitions this year.

Principal 352

Principal Mortgages Lending Equity 352

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. trillion unpaid principal balance (UPB). Mr. Cooper must maintain high retention rates to drive more business, an achievement that requires investment in technology and product development.

Mortgages 446

Mortgages Banks Debt-to-income ratio Loans 446

Housing Wire

NOVEMBER 16, 2022

David Hrobon, a principal with the Colorado-based mortgage advisory firm the Stratmor Group , in a recent report projected that some 50 merger or acquisition deals will be announced or closed by year’s end, which is 50% more transactions than in 2018 — the prior high-water mark for lender consolidations over the past three decades.

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

JANUARY 7, 2021

Webhooks take automation one step further and deliver up-to-date, relevant details directly to the user,” said Scott Happ, president, Black Knight Secondary Marketing Technologies. Though that need may have started long before the pandemic. The investor had previously dropped $20 million on the Utah-based software developer in 2018.

Mortgages 278

Mortgages Lending Loans Investor 278

Housing Wire

JUNE 15, 2022

. “Rates are materially, definitely increasing faster than we were anticipating,” Saket Nigam, senior vice president of capital markets at Spring EQ , a home equity lender, said. Six months ago, at a rate of 2.87%, borrowers would pay $2,497 per month for principal, interest, taxes and insurance on a $450,000 house.

Mortgages 397

Mortgages Loans Investor Equity 397

Realty Biz

JULY 1, 2022

NYSE: COMP), a leading technology-enabled residential real estate brokerage, today announced the appointment of Dawanna Williams to its board of directors effective July 1, 2022. Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Compass, Inc. About Compass.

Principal 87

Principal Development Brokerage Residential 87

Housing Wire

SEPTEMBER 10, 2020

Existing backers FirstMark , Navitas , Accomplice and Juxtapose also participated in the financing, which exactly doubles the New York-based startup’s total equity raised since its September 2017 inception to $138 million. Patrick Conroy, principal at Washington, D.C.-based

Title 291

Title Branding Principal Loans 291

The Close

NOVEMBER 7, 2024

You also want to add overhead expenses like filing your business entity, advertising costs, real estate commissions and finder’s fees, taxes, and mortgage principal and interest. Cash Flow Projections As part of your business planning, you want to create a cash flow forecast based on the property’s income, expenses, and current vacancy rates.

Hard money loan 98

Hard money loan Purchase and sale agreement Investor Due diligence 98