Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week. Before joining FHFA, Valverde served at the U.S. from Yale Law School.

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Housing Wire

JUNE 11, 2024

And Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. million in aggregate principal of 2028 senior notes held by Artemis Management LLC. The new debt will pay 8.75% — an incremental 0.5% It reported a cash balance of $604 million at the end of March.

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Principal Mortgages Investor Finance 475

Housing Wire

MAY 23, 2024

.” Knag has an extensive resume, having served in several financial leadership roles in the media, telecommunications, technology and finance sectors. James Grout, Offerpad’s senior vice president of finance, had been serving as the firm’s interim principal financial officer. million.

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Principal Finance Banks Technology 436

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Homesellers, who now have many offers to choose from, are not likely to look favorably on anything that entails more complicated financing.

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Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. I have really enjoyed getting to know Next Door Lending’s principals, Doug [Liska] and Jonathon, through this process,” Chen said. As part of the deal that closed Oct.

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Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. The post FHA’s manufactured housing loan program gets a facelift appeared first on HousingWire.

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Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

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Loans Fixed-rate mortgage Principal Renovation 476

Housing Wire

NOVEMBER 28, 2023

year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. house price growth continued to accelerate in the third quarter, appreciating more than in each of the previous four quarters,” Anju Vajja, principal associate director in FHFA ’s division of research and statistics, said in a statement.

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Housing Wire

APRIL 19, 2022

The administration said that the new loss mitigation option could be an alternative for borrowers who cannot reduce their principal and interest payments by 25% through FHA’s existing 30-year mortgage modification with a partial claim.

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Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

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Housing Wire

MARCH 5, 2024

There have been at least half a dozen cybersecurity attacks that were successful within housing finance in the last several months; we’ve had to deal with some of those issues directly ourselves and to others we work with,” Sam Valverde, principal executive vice president at Ginnie Mae, said during a regulatory session at the conference.

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Principal Investor Finance Mortgages 454

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.

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Housing Wire

MARCH 2, 2023

Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. He joined Ginnie in March 2022 following a stint as supervising attorney advisor for the Federal Housing Finance Agency (FHFA).

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Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

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Housing Wire

AUGUST 15, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. billion in unpaid principal balance (UPB). The Swiss bank added SPS to its division that is focused on non-core and legacy businesses. primary mortgage servicer at the end of June, handling $166.7 36 in the IMF ranking.

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Housing Wire

OCTOBER 2, 2023

Rithm’s deal with Computershare will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance (UPB) to the company. mortgage lender in the first six months of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data. Computershare Loan Services was No. Rithm had 1.8

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Mortgages Loans Principal Finance 435

Housing Wire

JUNE 28, 2024

The Federal Housing Finance Agency (FHFA) on Thursday named the inaugural members of its newly created advisory committee on affordable, equitable and sustainable housing.

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Housing Wire

JUNE 3, 2021

The Federal Housing Finance Agency (FHFA) has extended forbearance options for multifamily properties through the end of September. of the GSE’s total securitized unpaid principal balance. The options to put off debt payments for federally-backed multifamily properties had been slated to expire at the end of June.

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Housing Wire

APRIL 24, 2024

Take a look below to see this year’s list of honorees. Congratulations to the 2024 Rising Stars! Name Job Title Company Name A.T.

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Housing Wire

JUNE 7, 2024

year over year, according to Inside Mortgage Finance (IMF) estimates. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March. Newrez, a top-five U.S. mortgage lender, originated $10.8 billion in mortgages in first-quarter 2024, up 55.2%

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Bankruptcy Loan Officer Principal Loans 448

Housing Wire

SEPTEMBER 30, 2024

It also sold MSRs of low-coupon originations from the 2020 and 2021 vintages, bringing its total unpaid principal balance (UPB) to $114 billion on June 30 compared to $142 billion on March 31. It follows other strategies to strengthen its financial position, including selling mortgage servicing rights (MSRs) and extending debt.

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Closing Principal Residential Finance 430

Housing Wire

NOVEMBER 18, 2024

by October 2025, as required by the Federal Housing Finance Agency (FHFA). “An immediate transition ensures lenders remain well-positioned to continue doing business with Fannie Mae and Freddie Mac, as well as the other principal GSEs that can accept VantageScore mortgages right now,” Hutchinson said in a statement.

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Mortgages Principal Banks Loans 405

Housing Wire

OCTOBER 1, 2024

It has built an MSR platform with 608,000 loans, representing $192 billion in unpaid principal value (UPB) and $2.8 Inside Mortgage Finance ranked Rocket as the eighth-largest U.S. Annaly has $75 billion in assets invested across its agency mortgage-backed securities (MBS), residential credit and MSR strategies. billion as of June 30.

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Closing Principal Loans Finance 428

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. Market conditions have certainly trended downward for residential or commercial real estate.

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Commercial Brokerage Due diligence Title 448

Housing Wire

MAY 17, 2021

A Federal Housing Finance Agency (FHFA) report highlighted the perils of low-rates for Fannie Mae and Freddie Mac ’s single-family Credit Risk Transfers. By the end of 2020, Freddie Mac’s overall proportion of risk transfer to unpaid principal balance had surpassed December 2019 levels.

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Principal Investor Mortgages Finance 398

Housing Wire

JULY 21, 2022

With respect to nonagency loans and non-QM loans, warehouse lenders will finance between 90% and 95% of the original principal amount of the loan, which requires [FGMC] to use working capital to fund the remaining portion of the principal balance of the mortgage loans,” states a declaration filed with the court by FGMC CEO Aaron Samples.

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Bankruptcy Banks Pre-approval Principal 418

Housing Wire

OCTOBER 11, 2023

The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. mortgage lender in the first half of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data. 10-12 at the Hyatt Lost Pines.

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Principal Loans Investor Finance 490

Housing Wire

MAY 8, 2024

According to Inside Mortgage Finance (IMF) estimates, Newrez was the fifth-largest mortgage lender in the country in the first quarter of 2024. billion in unpaid principal balance (UPB) in the first quarter, down 1.5% The job cuts were imposed on analysts, coordinators and senior employees, among others. quarter over quarter and 44.9%

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Loan Officer Principal Loans Mortgages 445

Housing Wire

MARCH 5, 2024

Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. Kasnet, chairman of Two Harbors, said in a statement. “We

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Principal Commercial Loans Mortgages 431

Housing Wire

SEPTEMBER 10, 2024

Rocket Mortgage ranked as the third-largest lender in the country during the first half of this year, per data from Inside Mortgage Finance. billion in unpaid principal balance (UPB) at the end of the second quarter. Rocket originated $42.3 billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. According to Black Knight , servicers have advanced almost $19 billion in unpaid principal and interest to investors in the past year. In a flash, millions of Americans lost their jobs and incomes.

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Mortgages Principal Loans Finance 502

Housing Wire

FEBRUARY 6, 2023

He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. UWM originated $128 billion in 2022, per Inside Mortgage Finance estimates. Hubacker said in a statement he will enhance the CFO role and capabilities of UWM’s finance team as a “strategic business partner to the company.”

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Principal Finance Mortgages Loans 433

Housing Wire

JULY 8, 2024

year over year, according to Inside Mortgage Finance (IMF) estimates. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March. In early June, another 317 employees received notification of layoff in Colorado, with their expected separation dates beginning on Aug. Newrez originated $10.8

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Loan Officer Principal Finance Mortgages 425

Housing Wire

SEPTEMBER 29, 2023

And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306 , according to Black Knight ’s mortgage monitor report.

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Mortgages Principal Brokerage Finance 516

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 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time.

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Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

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Finance Principal Residential Development 446

Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025.

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Principal Finance Mortgages Equity 442