Housing Wire

APRIL 30, 2024

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The effective date for this provision is Feb. These include having served nearly 2.6

Lending 454

Lending Finance Closing costs Closing 454

Housing Wire

MARCH 21, 2024

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. increase.

Lending 444

Lending Sales Commercial Loans 444

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. As the 12th-largest mortgage lender , Planet Home Lending posted an origination volume of $25 billion in 2023, a 5.3% decline from 2022, according to Inside Mortgage Finance.

Lending 458

Lending Renovation Loans Mortgages 458

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. The Nationwide Multistate Licensing System (NMLS) shows that Michigan-based brokerage firm Next Door had 61 sponsored loan officers as of Thursday, along with four branches in Arizona, Nevada, Ohio and Texas.

Lending 489

Lending Mortgages Loan Officer Principal 489

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Hummel, who previously led the correspondent and Housing Finance Agency (HFA) business at U.S. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release.

Banks 450

Banks Lending Loan Officer Loans 450

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 446

Lending Mortgages Equity Loan Officer 446

Housing Wire

MAY 22, 2024

Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement. “Our

Lending 444

Lending Development Loan Officer Finance 444

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 488

Equity Lending Banks Loans 488

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. The word “trended” is the source of the “T” in the 10 T name. a competing model that incorporates trended credit bureau data.

Lending 434

Lending Mortgages Loans Banks 434

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 497

Residential Lending Banks Mortgages 497

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

Construction 459

Construction Development Loans Lending 459

Housing Wire

NOVEMBER 20, 2024

In an exclusive executive conversation, HousingWire sat down with Jonathan Scarpati, senior vice president of Wholesale Production at Finance of America , to explore home equity products, opportunities for mortgage professionals to leverage them, and more. HousingWire: How did you get into Finance of America and the industry?

Equity 369

Equity Finance Marketing Lending 369

Housing Wire

JULY 10, 2024

The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. Craig Timmins.:

Lending 438

Lending Technology Loans Mortgages 438

Housing Wire

MAY 17, 2024

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , The Federal Housing Finance Agency (FHFA) has added new requirements in its Duty to Serve plans that govern Fannie Mae and Freddie Mac , as well as tweaks to loan-level pricing adjustments (LLPAs).

Lending 476

Lending Closing Banks Closing costs 476

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 496

Lending Banks Mortgages Loan Officer 496

Housing Wire

NOVEMBER 28, 2023

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

FHA loan 497

FHA loan Loans Finance Lending 497

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. A VA loan is a mortgage partially backed by the U.S.

VA loan 468

VA loan Loans Mortgages Lending 468

Housing Wire

AUGUST 2, 2024

HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

Lending 445

Lending Branding Loan Officer Technology 445

Housing Wire

OCTOBER 25, 2024

Minneapolis -based mortgage lender Luminate Home Loans has decided to shutter its NEO Home Loans division, which transitioned to the firm two years ago, the company announced on Friday. Luminate announced in December 2022 that it would transition the Neo Home Loans team, which had more than 200 members, to its structure.

Loans 434

Loans Closing Banks Lending 434

Housing Wire

DECEMBER 17, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

Loans 394

Loans Mortgages Finance Lending 394

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. billion in loans. Let’s be clear.

Loans 447

Loans Mortgages Banks Lending 447

Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

Loans 529

Loans Finance Renovation Equity 529

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 448

Lending Mortgages VA loan Finance 448

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officer 447

Loan Officer Loans Finance Mortgages 447

Housing Wire

SEPTEMBER 4, 2024

Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement. The firm hired Brendan Bosman, a former senior managing director and head of U.S.

Finance 446

Finance Residential Investor Lending 446

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. market share, according to Inside Mortgage Finance (IMF) estimates. billion; 5.7%).

Loans 467

Loans Mortgages Due diligence Banks 467

Housing Wire

JANUARY 6, 2025

HousingWire Vanguard Sarah Gonzalez has taken on a new role at Logan Finance Corporation as chief innovation officer. Logan offers a range of non-QM products, including DSCR, AUS jumbo and bank statement loans. Gonzalez formerly served as Logan’s chief operating officer, a position she started in February 2024.

Finance 399

Finance Lending Loans Banks 399

Housing Wire

OCTOBER 17, 2024

Better Home & Finance, the parent company of digital lender Better.com , launched its voice-based artificial intelligence loan assistant on Thursday. Vishal Garg , founder and CEO of Better, said in a statement that “fulfilling a mortgage loan is labor-intensive and rules-driven, but Betsy automates the process.”

Loans 435

Loans Loan Officer Lending Mortgages 435

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 481

FHA loan Loans Finance Mortgages 481

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

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.

Finance 435

Finance Mortgages Marketing Branding 435

Housing Wire

NOVEMBER 26, 2024

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. Home prices increased by an average of 4.3%

FHA loan 370

FHA loan Loans Finance Lending 370

Housing Wire

OCTOBER 5, 2023

Movement will employ FICO 10 T “to analyze their non-conforming loans, in conjunction with the classic FICO Scores,” the company said in a joint announcement with FICO. “As The word “trended” is the source of the “T” in the 10 T name. a competing model that also incorporates trended credit bureau data.

Loans 448

Loans Mortgages Lending Finance 448

Housing Wire

OCTOBER 15, 2024

Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. billion in home loan production. That was down 18% year over year, per Inside Mortgage Finance estimates. Fairway Independent Mortgage Corp.

Lending 468

Lending Loan Officer Loans Mortgages 468

Housing Wire

AUGUST 27, 2024

The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months). FHA has also updated its FHAC guide to provide details for these changes.

Loans 447

Loans Renovation Principal Finance 447

Housing Wire

DECEMBER 5, 2024

Highlands Residential Mortgage announced that Daniel McCoy is joining the company as a regional construction loan manager for the Southeast. The lending executive’s reviews on Zillow reflect stellar performance in North Carolina. Highlands Residential Mortgage is a retail lender based in Allen, Texas.

Residential 380

Residential Construction Loans Mortgages 380