Housing Wire

OCTOBER 31, 2022

This is projected to be a record year for consolidation among mortgage lenders, largely due to the dramatic shift from a refinance boom to a purchase mortgage market and the total origination volume, which has shrunk to about half the size from 2021. Presented by: Selene Finance.

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Industrial Mortgages Principal Loans 397

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? “The The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. By September, a full-fledged housing market recession had set in. over asking price.

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Equity Marketing Loans Bankruptcy 529

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. This is according to data compiled by Reverse Market Insight (RMI). compared to the prior month.

Mortgages 417

Mortgages Finance Equity Principal 417

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

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Mortgages Marketing Banks Investor 435

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

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VA loan Loans Principal Mortgages 476

Housing Wire

NOVEMBER 7, 2023

The brokerage’s national quarterly market share grew by 26 basis points year over year, reaching 4.4% The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. Compass outperformed the industry in Q3 Compass agents were involved in 48,134 transactions in the third quarter, a 12% decline year-over-year.

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Principal MLS Agents Brokerage 435

Housing Wire

JANUARY 12, 2024

The numbers are staggering so it is no surprise that residential proptech is a heady market, capturing the imagination of entrepreneurs and institutions alike. As a marketer by profession, I tend to put these companies into categories to create a narrative and to develop brand specificity. Of these, category 2 is the most established.

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Finance Principal Residential Development 448

Housing Wire

JUNE 5, 2024

Its technology also provides scale to navigate the ups and downs of the mortgage market. according to Inside Mortgage Finance, with about $19 billion in production from January to March. “We are in a regulated industry, so we need to do this responsibly and ethically.” billion in mortgages in the period. .”

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Mortgages Loan Officer Technology Loans 459

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

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Principal Loans Investor Industrial 468

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. ” However, the regulatory proposal comes amid a shrinking jumbo market.

Mortgages 370

Mortgages Banks Marketing Residential 370

Housing Wire

APRIL 24, 2024

Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. After learning about his path into the business , RMD sat down with Schmidt to learn more about his approach for enlisting new partners at FAR and across the wider industry.

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Mortgages Loan Officer Principal Loans 447

Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Mortgages 459

Mortgages Loans Equity Principal 459

Housing Wire

FEBRUARY 1, 2023

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. In terms of acceptance in the secondary market of these TRBLs, which is key to ensuring lender liquidity, the jury is still out.

Marketing 435

Marketing FHA loan Loans Mortgages 435

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 476

Mortgages Bankruptcy Principal Finance 476

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. million in unpaid principal balance; pool 2 is at $342.5 The loan offering is being marketed with assistance from Citigroup Global Markets Inc. million; and pool 3, $312.9

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. “VA loans are probably the best loans on the market.

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VA loan Agents Seller concession FHA loan 482

Housing Wire

MARCH 28, 2023

Rocket Companies has rolled out its first credit card in order to attract potential homebuyers and existing homeowners into its ecosystem amid one of the most challenging mortgage markets in decades. Rocket suffered a $197 million adjusted net income loss in the fourth quarter after it reported a $166 million loss in the third quarter.

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Closing costs Finance Principal Mortgages 435

Housing Wire

SEPTEMBER 19, 2022

A perfect lending storm spurred by the pandemic resulted in an absolutely stunning year for the mortgage industry in 2020. Top lenders who were able to quickly build capacity and take advantage of near-zero interest rates were rewarded with an increase in market share. overall market share in 2021, up from 38.9%

Marketing 370

Marketing Loans Principal Mortgages 370

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 to 72% across the three deals in a market with fast-rising home prices.

Marketing 397

Marketing Debt-to-income ratio Loans Mortgages 397

Housing Wire

JUNE 4, 2024

. “The Debtor, however, was not immune from the consequences of the Federal Reserve’s policy to curb inflation, which hit the mortgage industry in 2022,” Hometown’s attorneys said in court filings. ” The lender closed on October 13, 2023, amid a challenging mortgage market.

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Bankruptcy Banks Investor Principal 446

Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. “The

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Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

NOVEMBER 15, 2023

With so much uncertainty surrounding the real estate industry today, it’s never been more important to have a leader who thoroughly knows us and understands business at the highest level,” said Keller. He takes over at a critical point in the real estate industry. That’s Mark Willis.”

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Brokerage Principal Industrial Agents 459

Housing Wire

NOVEMBER 8, 2023

The purchase-focused lender with a distributed retail model emphasized its growth strategy of gaining purchase market share through acquisitions and bringing on high-performing originators as the industry continues to see muted demand for mortgages. billion in unpaid principal balance as of Sep. Guild reported a $54.2

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Principal Loans Mortgages Industrial 448

Housing Wire

NOVEMBER 7, 2023

In a recent interview with HousingWire, CEO Frank Martell said the most likely period for a trajectory to profitability “is the spring selling season, as we get into next year and the market provides some lift. Servicing loanDepot’s unpaid principal balance increased to $143.9 Right now, it’s ultra-low.”

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Principal Loans Sales Mortgages 448

Housing Wire

APRIL 14, 2023

They [Wells Fargo] may have other deals in the market too,” the expert added, “but I’m not as familiar with that since they have been very selective about who these deals get shown to.” billion based on the unpaid principal balance (UPB), down from $679.2 billion — down by some $500 million. billion as of yearend 2022.

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Principal Loans Banks Mortgages 448

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

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Mortgages Loan Officer Lending Principal 418

Housing Wire

MAY 5, 2023

In January, the Federal Housing Finance Agency (FHFA) made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. The industry had already consumed these fees for weeks,” Shemi explained. “So,

Principal 418

Principal Industrial Mortgages Finance 418

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 468

Mortgages Banks Loans Industrial 468

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. ” The Fed’s short-term rate does not directly impact long-term mortgage rates but it does steer market activity to create higher rates and reduce demand.

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Loan Officer Loans Mortgages Industrial 435

Housing Wire

JANUARY 8, 2021

Moving forward, the Mortgage Industry Standards Maintenance Organization , a not-for-profit subsidiary of the Mortgage Bankers Association , will continue to focus on digital closings. MBA President and CEO Bob Broeksmit explained that Appleton was brought on in order to usher MISMO and the housing industry into the digital future.

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Development Technology Industrial Principal 482

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. What is a Turnkey Rental Property?

Finance 96

Finance FHA loan Investor Loans 96

RIS Media

MAY 9, 2022

Several hundred REALTORS ® attended Wednesday’s Emerging Business Issues and Technology Forum, which provided insight into the top emerging tech trends that are expected to have the biggest impact on the real estate industry in the coming years. sold cryptocurrency to help finance a down payment in 2021, up from 8.8% in 2020 and 4.6%

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Industrial Technology Finance Principal 98

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

Loans 433

Loans Marketing Due diligence Residential 433

Housing Wire

APRIL 29, 2022

While the mortgage industry experienced record high origination volumes in recent years and resources were scaled up to meet consumer demand, the industry now faces higher interest rates leading to lower originations volume ,” a spokesperson for Mr. Cooper Group said in a statement. Cooper Group originated $11.6

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Principal Loans Mortgages Land 370

RIS Media

DECEMBER 6, 2020

Federal Housing Finance Agency (FHFA) Director Mark Calabria issued a statement at the Financial Stability Oversight Council Principals meeting. “As the annual report describes, strong labor markets and house price appreciation created a solid foundation under America’s mortgage finance system at the start of 2020.

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Principal Finance Banks Loans 63

Housing Wire

AUGUST 9, 2023

Unlike others that are more reactive to cyclical market conditions, we will continue to be aggressive in our technology and product investments. We are hiring right now, whereas the industry as a whole is continuing to cut back on capacity,” Mat Ishbia, chairman and CEO, said in a statement. UWM originated $31.8 UWM originated $31.8

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As-is Principal Mortgages Loans 370