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. He had a particular focus on residential developers and homebuilders.

Finance 439

Finance Residential Investor Lending 439

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. Anchor Loans was acquired by investment firm Pretium in November 2021.

Loans 468

Loans Investor Banks Finance 468

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

Loans 468

Loans Banks Residential Finance 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 444

Loans Renovation Principal Finance 444

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.

Loans 430

Loans Finance Residential Renovation 430

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

Finance 418

Finance Lending Title Mortgages 418

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 478

FHA loan Loans Finance Mortgages 478

Housing Wire

SEPTEMBER 16, 2022

Another single-family rental (SFR) securitization deal sponsored by a large institutional player, Progress Residential , is slated to hit the private-label market this month, bringing the total securitization-deal count for Progress to seven so far this year. billion; FirstKey Homes , $10 billion; Amherst Residential , $6.3

Residential 397

Residential Loans Principal Mortgages 397

Housing Wire

JUNE 21, 2022

New Residential Investment Corp. Last year, the company closed the acquisition of Caliber Home Loans and Genesis Capital LLC. New Residential will start trading on the NYSE as “RITM” on or about August 1, 2022. The post New Residential to internalize management, change name to Rithm Capital?

Residential 396

Residential Investor Loans Finance 396

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 385

Loans Lending Finance Renovation 385

Housing Wire

JULY 8, 2024

Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. billion of single-family residential loans at a discount. The bank entered into an agreement to buy $1.8

Loans 429

Loans Principal Banks Residential 429

Housing Wire

JULY 18, 2024

“Waltz fundamentally reshapes the investment experience in residential real estate for foreign nationals,” Tomer Diara, general partner at Aleph, said in a statement. ” Foreign investors can purchase or refinance property through Waltz for a loan-to-value ratio of up to 70%. residential real estate is low.

Finance 425

Finance Investor Banks Residential 425

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. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million in unpaid principal balance; pool 2 is at $342.5

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

MARCH 3, 2022

Finance of America Companies on Wednesday told investors that it managed to increase in originations in 2021, but a more competitive landscape reduced margins and, consequently, the company’s net income. Finance of America funded $35.6 Finance of America shares were trading at $3.39 On paper, the company posted a $1.17

Finance 397

Finance Investor Mortgages Commercial 397

Housing Wire

OCTOBER 5, 2023

Das, a former CEO of Caliber Home Loans , will begin his new role on Oct. Das spent six years as CEO of Caliber Home Loans — a NewRez -owned residential mortgage lending company — until January 2022. Pagaya also offers personal loans, auto loans, credit cards and point-of-sale (POS) financing.

Technology 434

Technology Loans Lending Residential 434

Housing Wire

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings. Breaking it down There was a total of $335.6

Loans 439

Loans Mortgages Industrial Principal 439

Housing Wire

JULY 31, 2023

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations.

Loans 365

Loans Residential Finance Renovation 365

Housing Wire

JANUARY 24, 2022

Sanjiv Das, CEO of Caliber Home Loans , is stepping down as CEO of the company, less than one year after New Residential Investment Corp. In a memo sent Monday morning, Michael Nierenberg, CEO of New Residential Investment Corp., according to Inside Mortgage Finance.

Loans 370

Loans Residential Mortgages Finance 370

Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans.

Loans 476

Loans Title Commercial Residential 476

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans 459

Loans FHA loan Mortgages Loan Officer 459

Housing Wire

DECEMBER 16, 2021

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

Due diligence 416

Due diligence Loans Investor Mortgages 416

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

Loan Officer 448

Loan Officer Loans Mortgages As-is 448

Housing Wire

SEPTEMBER 24, 2024

Roemanu , the holding company for Toorak Capital Partners and Merchants Mortgage , announced on Tuesday that it has hired former Finance of America executive Charles Macintosh as its chief operating officer. Founded in 2016, it connects small-balance residential and commercial mortgage originators with institutional capital.

Residential 424

Residential Commercial Finance Loans 424

Housing Wire

AUGUST 29, 2024

million residential mortgage originations in the second quarter of 2024, an increase of 23.2% The increase in overall lending in Q2 came amid the Spring homebuying season and lower mortgage interest rates that dipped downward after months of increases, according to Attom ’s Q2 residential property mortgage origination report.

Mortgages 415

Mortgages Fixed-rate mortgage Lending Residential 415

Housing Wire

MAY 17, 2023

A year ago for us, fix and flip [loan interest] was probably 6.5%, but today, you’re probably getting between 10% and 12%,” Lind said. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

Finance 370

Finance Marketing Lending Renovation 370

Housing Wire

JANUARY 19, 2024

Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. It also says it processes, underwrites and funds loans in-house. More than 50 mortgage loan officers were let go. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A.

Mortgages 477

Mortgages FHA loan Loan Officer Loans 477

Housing Wire

OCTOBER 6, 2023

But people need homes,” said Kenny Deen, senior account executive at the independent mortgage banker and residential home lender Paramount Residential Mortgage Group. Then, we have all the traditional financing options, including jumbo.” “We’re people who have been around for a while.

Mortgages 493

Mortgages VA loan Finance Renovation 493

Housing Wire

AUGUST 15, 2024

Fitch Ratings said in a report that SPS has been servicing residential mortgages since 1989 and residential mortgage-backed securities (RMBS) transactions since 2000. According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. million loans, the companies said in an announcement of the deal.

Investor 473

Investor Mortgages Banks Principal 473

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. They establish limits for assets backed by residential or commercial real estate and mitigate the impact if the assets lose value.

Mortgages 456

Mortgages Commercial Loans Finance 456

Housing Wire

JULY 23, 2024

Established in 2021, the company provides short-term bridge loans, fix-and-flip loans and construction financing for residential and multifamily investment properties. The company recently added Tuan Pham as its chief marketing officer and Steve Huff as senior vice president of asset management and servicing.

Lending 425

Lending Banks Residential Construction 425

Housing Wire

AUGUST 14, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. Salt Lake City-based SPS has been servicing residential mortgages since 1989 and residential mortgage-backed securities (RMBS) transactions since 2000, according to Fitch Ratings. billion), and 26,500 agency and owned loans ($4.4 In the U.S.,

Banks 435

Banks Closing Principal Residential 435

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). 3, indicating a voluntary surrender.

Loan Officer 468

Loan Officer Bankruptcy Loans Residential 468

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. in 2021, according to the association.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

FEBRUARY 21, 2024

The industry side of the board includes Eddy Perez, CEO of Equity Prime Mortgage (EPM) ; Phil Shoemaker , CEO of The Loan Store ; Chris Vinson, CEO of Windsor Mortgage ; and Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group (PRMG). Additionally, mortgage broker Jerry Robinson from 1st Choice Mortgage Co.

Lending 435

Lending Finance Loans Mortgages 435

Housing Wire

JULY 23, 2024

According to data at HousingWire ’s Mortgage Rates Center , the average rate for 30-year conforming loans was at 7.01% on Tuesday, down 5 basis points from one week ago and 10 basis points lower than two weeks ago. The rate for 15-year conforming loans averaged 6.66% on Tuesday, compared to 6.79% a week ago. Data from the U.S.

Mortgages 511

Mortgages MLS Finance Loans 511

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates. In the mortgage space, TD Bank was a top-35 U.S.

Banks 434

Banks Lending Loans Finance 434

Housing Wire

FEBRUARY 12, 2024

residential mortgage market and housing-related assets. It also has a niche in construction and manufactured home loan programs. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. AFR offers agency, nonagency and government lending products.

Lending 438

Lending New Construction Construction Finance 438