Housing Wire

NOVEMBER 20, 2024

In today’s economy, mortgage rates and housing expenses have consistently risen. Mortgage professionals must keep up with the new demand for home equity products in the new market. HousingWire: How did you get into Finance of America and the industry? Also, many loan originators go against the grain.

Equity 368

Equity Finance Marketing Lending 368

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. Daniel McCoy McCoy leads the construction-focused McCoy Mortgage Team , which has previously affiliated with companies like MVB Mortgage , Intercoastal Mortgage and Cardinal Financial.

Residential 370

Residential Construction Loans Mortgages 370

Housing Wire

NOVEMBER 27, 2024

wholesale lender United Wholesale Mortgage (UWM) has taken another aggressive move related to its product set, underscoring its strong commitment to government-backed loans. On Wednesday, the company announced the removal of all loan-level pricing adjustments (LLPAs) on government loans, albeit with some limitations.

Loans 418

Loans Finance Mortgages VA loan 418

Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco -based Unison calls its new offering the Equity Sharing Home Loan. Borrowers can repay the loan early without penalty.

Equity 457

Equity Loans Debt-to-income ratio Renovation 457

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. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

Construction 459

Construction Development Loans Lending 459

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 18, 2024

Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. Additionally, all loans currently locked must be funded by the lock expiration date. Relatedly, Fannie Mae and Freddie Mac have blacklisted a number of condo buildings in South Florida that it won’t back loans for. PST on Oct.

Mortgages 524

Mortgages Marketing Lending Finance 524

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. The mortgage firm, which has been in business since 1998, is a subsidiary of Luminate Bank.

Loans 432

Loans Closing Banks Lending 432

Housing Wire

JUNE 5, 2024

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National Mortgage News. As of late-day trading on Wednesday, the price currently sits at $0.59.

Finance 478

Finance Sales Equity Mortgages 478

Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This could make the overall cost to entry — which is already low — more digestible.

Construction 487

Construction Finance Development Marketing 487

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 434

Loans Loan Officer Lending Mortgages 434

Housing Wire

AUGUST 12, 2024

Piggyback mortgages — those involving a first and second lien at origination — are on the rise among first-time and low- to moderate-income borrowers who face affordability challenges. for conventional purchase loans backed by Fannie Mae and Freddie Mac. This is according to a CoreLogic report published on Monday.

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

AUGUST 27, 2024

The Federal Housing Administration (FHA) announced late last week that the previously detailed updates and expansions to its 203(k) Rehabilitation Mortgage Insurance Program will be incorporated into updates for the FHA Connection (FHAC) portal. Department of Housing and Urban Development (HUD).

Loans 446

Loans Renovation Principal Finance 446

Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger.

Mortgages 543

Mortgages Loans Banks Finance 543

Housing Wire

JULY 23, 2024

Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. The rate for 15-year conforming loans averaged 6.66% on Tuesday, compared to 6.79% a week ago. Fannie also upwardly revised its forecast for purchase mortgage origination volume to $1.22

Mortgages 511

Mortgages MLS Finance Loans 511

Housing Wire

AUGUST 29, 2024

Richelle Hopkins of Mutual of Omaha Mortgage has been a reverse mortgage professional for 20 years, moving to Arizona in 2006. At a recent WIFS Phoenix event, Hopkins was able to bring a discussion about reverse mortgages to attendees and sat down with HousingWire ’s Reverse Mortgage Daily (RMD) to share details about the experience.

Finance 435

Finance Mortgages Equity Development 435

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.

Residential 487

Residential Equity Mortgages Purchase and sale agreement 487

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 252

Loans Mortgages Finance Lending 252

Housing Wire

JULY 15, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , announced Monday that it has decided to waive the $795 origination fee charged to broker partners on home equity loans. However, as we all know, borrowers don’t want to touch their first mortgages because they have lower interest rates, which is completely understandable.

Equity 448

Equity Loans Mortgages Finance 448

Housing Wire

SEPTEMBER 13, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , upped its agency conforming loan limits to $802,650 in 48 states, ahead of an announcement by the Federal Housing Finance Agency (FHFA) that is expected in November. We’re able to hold these loans on a book for quite some time. National home prices rose by 4.3%

Loans 448

Loans Mortgages Finance 448

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This is specifically designed to benefit consumers during the high rate environment, the agency said. “In

Closing 529

Closing Mortgages Equity Loans 529

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We experienced an inflation rate of 3.1% billion AUD, or roughly $1.2

Mortgages 447

Mortgages Banks Finance Branding 447

Housing Wire

SEPTEMBER 17, 2024

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. The product, which rolled out on Tuesday, combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. Unison has more than $1.8

Equity 424

Equity Loans Finance Mortgages 424

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

FHA loan 473

FHA loan Mortgages Loan Officer Loans 473

Housing Wire

AUGUST 1, 2024

Mortgage servicer and lender Planet Home Lending is acquiring the retail division assets of employee-owned Axia Home Loans , HousingWire has learned. Last year, it acquired the majority of Platinum Home Mortgage Corp.’s Executives at Planet Home Lending were also on the call. ’s origination staff and branches.

Lending 468

Lending Loans Mortgages Finance 468

Housing Wire

NOVEMBER 18, 2024

The Federal Housing Finance Agency (FHFA) on Monday announced that it will raise the 2025 multifamily loan caps for purchases by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to $73 billion each.

Loans 457

Loans Finance Mortgages Marketing 457

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 442

Finance Residential Investor Lending 442

Housing Wire

NOVEMBER 11, 2024

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. billion in purchase mortgage business, not far off a top 50 spot on the mortgage leaderboard. That’s an annualized $3.2

Mortgages 459

Mortgages Loan Officer Loans Agents 459

Housing Wire

JULY 30, 2024

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. Mortgage Insurers (USMI). trillion in mortgages. The vast majority of this total ($1.4

Mortgages 459

Mortgages Finance Loans Industrial 459

Housing Wire

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. According to the USMI, private mortgage insurers held more than $26.8 Companies will have two years to fully implement the changes.

Mortgages 457

Mortgages Loans Commercial Finance 457

Housing Wire

NOVEMBER 27, 2024

Mortgage applications rose 6.3% 22, driven by a 12% increase in demand for purchase loans, according to data released Wednesday by the Mortgage Bankers Association (MBA). It is the third straight weekly increase for applications — a good sign for mortgage lenders heading into the typically slow Thanksgiving holiday.

Mortgages 369

Mortgages VA loan FHA loan Fixed-rate mortgage 369

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. The interest rate on the loan has been lowered from 9.99% to 9.49%. The interest rate on the loan has been lowered from 9.99% to 9.49%.

Mortgages 428

Mortgages Equity Loan Officer Loans 428

Housing Wire

AUGUST 13, 2024

Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. The CFPB has found that investors are targeting people of faith with predatory mortgage products that set the borrower up to fail,” CFPB Director Rohit Chopra said in a statement. among subprime loans.

Mortgages 479

Mortgages Land Lending Finance 479

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.

Mortgages 493

Mortgages Lending Finance Industrial 493

Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. It’s the ninth straight year that the limit will increase based on home-price appreciation levels, which feeds into a single, national limit for all HECM loans.

Mortgages 396

Mortgages Equity Lending Loans 396

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. The analysis includes first-lien mortgage originations.

Lending 484

Lending Mortgages Loan Officer Principal 484

Housing Wire

OCTOBER 18, 2024

The mortgage industry today demands speed, accuracy, and satisfied customers. ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. This digital mortgage setup focuses on turning manual tasks into automated ones.

Technology 429

Technology Mortgages Marketing Loans 429