Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” I think, as a whole, the industry is reacting pretty favorably to this. I do think [HMBS 2.0]

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Development Industrial Mortgages Fixed-rate mortgage 455

Housing Wire

OCTOBER 7, 2024

Freiha joins Opendoor after a three-year stint at Alphabet, where he started as Google ’s vice president of finance and oversaw commerce and payments before moving to capital allocations and planning. Opendoor is not just changing real estate; it’s pushing the industry into the future,” Radhakrishna said in a statement.

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Technology Finance MLS Title 445

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. CHEIFS is currently available in four states: Arizona , California , Florida and Pennsylvania. 31 of that year.

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Equity Finance Mortgages Bankruptcy 359

Housing Wire

MARCH 6, 2024

The title insurance and settlement services industry directly generated $30 billion of U.S. economic impact of the title industry. ALTA noted that 90% of the title industry is made up by small businesses. The Lone Star State was also the state with the highest direct total economic activity from the industry at $3.7

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Housing Wire

JULY 30, 2024

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I I absolutely knew that I wanted to remain in the reverse mortgage industry.

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Industrial Loan Officer Loans Lending 448

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% So, what exactly does this mean for the industry? in Q4 2023, the highest number we’ve seen since 2009. This is a true testament to the care, commitment and passion brokers across the country have for their borrowers.

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Industrial Loan Officer Marketing Loans 476

Housing Wire

AUGUST 14, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck.

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Finance Mortgages Marketing Branding 435

Housing Wire

OCTOBER 2, 2024

Department of Housing and Urban Development (HUD), addressed industry attendees at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego last week. David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Our new rule was universally embraced by all stakeholders.

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Industrial Mortgages Finance Development 427

Housing Wire

SEPTEMBER 25, 2024

However, the industry is approaching this cycle with caution. loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. As the hiring landscape in the mortgage industry evolves, so does compensation packages.

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Industrial Mortgages Loan Officer Loans 458

Housing Wire

OCTOBER 9, 2024

In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. The second myth addressed involves what they call the unnecessary adoption of 30-year mortgages in the housing industry.

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Industrial Mortgages Loan Officer Loans 429

Housing Wire

AUGUST 15, 2024

The secondary mortgage market provides billions of dollars in overall funding, making more credit available to borrowers nationwide to promote stable housing financing. John Stocchetti is the EVP and Mortgage Partnership Finance Program Group Head at Federal Home Loan Bank of Chicago.

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Industrial Fixed-rate mortgage Banks Loans 475

Housing Wire

OCTOBER 31, 2024

A tri-merge report that a couple years ago was $20 is around $60 right now, one industry pro told HousingWire. What the mortgage industry’s been told Despite widespread speculation and hints during company earnings calls, FICO has neither confirmed nor denied that cost increases on credit reporting will affect mortgage lenders in 2025.

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Industrial Mortgages Closing costs Lending 466

Housing Wire

JULY 18, 2024

We are proud to support this exceptional multinational team in its vision and look forward to watching Waltz emerge as a category leader in the financial services industry.” ” Foreign investors can purchase or refinance property through Waltz for a loan-to-value ratio of up to 70%.

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Finance Investor Banks Residential 431

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Hagen believes that rates below 6.25% would be supportive of the market.

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As-is Industrial Mortgages Loans 482

Housing Wire

SEPTEMBER 25, 2024

The Federal Housing Finance Agency (FHFA) announced on Wednesday it has changed its proposal to amend the Suspended Counterparty Program (SCP), offering a less severe version after several trade groups raised concerns about its impacts on the mortgage market. housing finance system,” FHFA Director Sandra L.

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Industrial Finance Mortgages Development 431

Housing Wire

AUGUST 23, 2024

In the second part of the interview, Cohen touches on the potential for greater collaboration with the reverse mortgage industry and gives an overview of how “success” is defined for the program. Addressable cohort and reach The RAM program and the HECM program maintain key differences in scale and qualifications.

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Industrial Mortgages Loans Title 412

Housing Wire

AUGUST 28, 2024

Tim Bowler, President of ICE Mortgage Technology, has a clear, specific vision for the future of ICE Mortgage Technology and the mortgage industry. Can you tell us more about these investments and what they mean for the mortgage industry? HW: How do you ensure your products remain ahead of the curve in such a rapidly evolving industry?

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Technology Industrial Mortgages Development 420

Housing Wire

JUNE 14, 2024

Consumer and industry advocacy organizations — including the American Land Title Association (ALTA), National Consumer Law Center (NCLC), National Association of Realtors (NAR) and AARP — are sounding the alarm over a rising trend of elder real estate fraud and financial exploitation in a new jointly created issue brief released on Friday.

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Industrial Title Land Equity 457

Housing Wire

AUGUST 29, 2024

One element of WIFS that she highlights is that despite her involvement in an industry that often has reputational challenges , Hopkins says that other WIFS members have both embraced and supported her.

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Finance Mortgages Equity Development 435

Housing Wire

SEPTEMBER 19, 2024

Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time. Kristen Sieffert At industry leader Finance of America (FOA), company president Kristen Sieffert said that the impact on both the company and the industry will be very evident.

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Mortgages Lending Finance Industrial 493

Housing Wire

APRIL 10, 2024

The most anticipated economic report of the month showed that inflation has not just stalled, but increased. The news almost certainly rules out a rate cut in June, and traders are increasingly skeptical there will be more than a couple cuts in 2024, if any at all. Consumer prices in March were up 3.5% from a year earlier, up from 3.2%

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Industrial Mortgages MLS As-is 480

Housing Wire

JULY 17, 2024

While the performance metrics for the reverse mortgage industry so far this year have not been anywhere near record-breaking, this also breeds ambition for participants to focus on ways they can renew their messaging about the product. So far this year, two lenders have made eye-opening moves in their approaches to reverse mortgage messaging.

Mortgages 444

Mortgages Marketing Finance Equity 444

Housing Wire

JUNE 5, 2024

“Today, HUD is providing new resources for preserving and revitalizing these communities by providing FHA-insured financing to mission-focused groups to buy or refinance and revitalize manufactured homes. The program complements another recent manufactured housing initiative from the department.

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Loans Finance Renovation Equity 529

Housing Wire

AUGUST 19, 2024

Since the 1940s, the DOJ has repeatedly sued the industry to introduce more price competition. Today, price competition has a chance because of their efforts and class action litigation, culminating in a jury decision against the industry. New industry rules prohibit mandatory offers of compensation through multiple listing services.

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Purchase and sale agreement Finance Industrial Agents 459

Housing Wire

OCTOBER 18, 2024

Provident, run by the Pica family, is known in the industry for its conservative approach and sports a better-than-average delinquency rate in its servicing portfolio, so it’s perhaps not a huge surprise it would exit such a choppy space. Messages left with Provident were not immediately returned on Friday.

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Mortgages Marketing Lending Finance 524

Housing Wire

AUGUST 15, 2024

Industry veteran Thanh Roettele , who spent more than 28 years at JPMorgan and was the managing director of its mortgage warehouse finance business, is transitioning to Scotiabank. Inside Mortgage Finance (IMF) and Bloomberg first reported on the topic. finance business, according to a memo reviewed by Bloomberg.

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Mortgages Banks Finance Lending 442

Housing Wire

JULY 19, 2024

Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

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Construction Development Loans Lending 459

Housing Wire

OCTOBER 4, 2024

Mortgage professionals : Lenders primarily consisted of loan originators and mortgage brokers, providing a perspective on financing. Challenges facing the industry The challenges identified by respondents highlight several areas of concern.

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Mortgages Marketing Brokerage Finance 459

Housing Wire

JULY 30, 2024

“Private mortgage insurance continues to help buyers qualify for financing and become homeowners with down payments as low as 3%, and remains one of the most important tools available to first-time and low- and moderate-income buyers in all market cycles,” USMI President Seth Appleton said in a statement. Mortgage Insurers (USMI).

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Mortgages Finance Loans Industrial 459

Housing Wire

JUNE 13, 2024

Plano, Texas-based Finance of America (FOA), currently the industry leader in the reverse mortgage space, and Paramus, New Jersey-based reverse mortgage lender and servicer Longbridge Financial will be sponsoring the event.

Mortgages 466

Mortgages Finance Equity Industrial 466

Housing Wire

JULY 11, 2024

The latest annual report from The Counselors of Real Estate highlights 10 major issues expected to impact the housing industry in 2024, but developers are painfully familiar with at least two of them: labor shortages and skyrocketing capital costs. Energy efficient homes open the door to new and better financing options.

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Development Construction Finance Investor 432

Housing Wire

JULY 5, 2024

The Mortgage Bankers Association (MBA) this week detailed its reasons for opposing a bill in the state of Florida designed “to expand projects eligible for residential Property Assessed Clean Energy ( PACE ) financing,” which was recently signed into law by Gov. Ron DeSantis.

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Loans Finance Residential Renovation 432

Housing Wire

JULY 11, 2024

Despite concerns from housing and mortgage industry trade groups, the Federal Housing Finance Agency (FHFA) on Thursday announced the release of VantageScore 4.0 million new eligible mortgage applicants and originate an additional $1 trillion in loans across the industry. And regulators believe the FICO 10T/VantageScore 4.0

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Finance Loans Mortgages Industrial 448

Housing Wire

JULY 15, 2024

Finance: D- Housing finance has not structurally changed in decades. To the extent that large financial institutions have themselves undergone a sizeable digital transformation, technology certainly impinged on finance, but the basics are the same, untouched by AI. Put simply, AI has not delivered much to the finance process.

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Residential Finance Technology Staging 423

Housing Wire

SEPTEMBER 10, 2024

Diana’s proven track record and vast experience in housing finance, real estate and capital markets make her an excellent choice to further Freddie Mac’s mission-driven work,” said Lance Drummond, the non-executive chair of the company’s board of directors. “I The plan received criticism from industry groups such as the U.S.

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Finance Banks Mortgages Equity 448

Housing Wire

OCTOBER 1, 2024

Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Rocket said that its recapture rate, which includes purchase and refinance loans, is at 85%, triple the industry average. The nation’s largest mortgage lender serviced 2.6 million loans, generating about $1.4 billion in annual fee income in the second quarter.

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Closing Principal Loans Finance 428

Housing Wire

AUGUST 1, 2024

Despite this seminal understanding, the Federal Housing Finance Agency (FHFA) has proposed a significant change in the mortgage finance process that actually runs counter to the stated mission of the GSEs and potentially limits consumers’ access to affordable housing. Of these consumers, 1.7 million to 2.8 million borrowers.

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Finance Loans Investor Mortgages 442