Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents. LOs on average get about 1%.)

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

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. ” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on loan applications are stored.

Loans 435

Loans Loan Officer Lending Mortgages 435

Housing Wire

DECEMBER 27, 2024

That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. But despite challenges posed by rates, industry professionals continue to find a way forward. I think that’s true from an industry standpoint.

Industrial 397

Industrial Mortgages Principal Lending 397

Housing Wire

OCTOBER 9, 2024

In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. The second myth addressed involves what they call the unnecessary adoption of 30-year mortgages in the housing industry.

Industrial 434

Industrial Mortgages Loan Officer Loans 434

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

SEPTEMBER 27, 2024

Those in attendance told HousingWire ’s Reverse Mortgage Daily (RMD) that the event provided ample opportunity for networking and educational content while boosting hopes that the industry can grow in the coming years. But others, including longtime industry veterans, also said they detected an energy at the event.

Industrial 448

Industrial Mortgages Loans Title 448

Housing Wire

SEPTEMBER 18, 2024

If the past few years have taught us anything, even the veterans must find ways to adapt, and anything can happen in our industry. Earlier this year, I found myself scrolling through social media, and every post seemed to be loan officers living the high life, with what seemed like endless closings, all while hosting event after event.

Industrial 459

Industrial Mortgages Loan Officer Loans 459

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As And even those offerings generally do not convert into actual savings for clients.”

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Loans Loan Officer Mortgages Closing costs 482

Housing Wire

MAY 7, 2024

Government data from HMDA shows borrowers are saving, on average, over $9,400 over the life of a loan. Second, nearly 20,000 loan officers moved into the wholesale channel in 2023. So, what exactly does this mean for the industry? Similar to consumer awareness, retail LO’s are learning the benefits of being independent.

Industrial 476

Industrial Loan Officer Marketing Loans 476

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. Nearly 90% of VA-backed loans are made with no down payment.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

OCTOBER 31, 2024

A tri-merge report that a couple years ago was $20 is around $60 right now, one industry pro told HousingWire. Though mortgage lenders don’t want to charge borrowers upfront, many have had to because the pull-through rate on loans makes it economically infeasible otherwise, especially for refis. What will it cost?

Industrial 468

Industrial Mortgages Closing costs Lending 468

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. billion in 2023.

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Loans Title Commercial Residential 476

Housing Wire

JULY 19, 2024

Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We 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. now known as Rithm Capital.

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Construction Development Loans Lending 459

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. Rocket claims that its home equity loans are clear to close in an average of 15 days. “There’s a ton of demand when it comes to looking for cash out.

Equity 448

Equity Loans Mortgages Finance 448

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. And more increases are yet to come.

As-is 482

As-is Industrial Mortgages Loans 482

Housing Wire

SEPTEMBER 20, 2024

Kevin Wilzbach : Without question, the growth in the use of AI and particularly GenAI has been transformational for the banking industry. Kevin Wilzbach: While the industry awaits relief in the form of interest rate reductions, there’s no quick fix to the associated high costs of housing in the near term.

Lending 459

Lending Industrial Mortgages Technology 459

Housing Wire

OCTOBER 28, 2024

The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.

Loans 397

Loans Mortgages Technology Development 397

Housing Wire

OCTOBER 27, 2024

The mortgage industry has long been promised a technological revolution to streamline workflows, reduce operational costs, and enhance efficiency. Yet, despite significant investments in new technologies, the cost to originate loans has dramatically increased. Continuous improvement and updates keep systems relevant and effective.

Technology 448

Technology Industrial Mortgages Development 448

Housing Wire

OCTOBER 2, 2024

Department of Housing and Urban Development (HUD), addressed industry attendees at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego last week. But that has also illuminated some of the need for additional flexibilities on an issue like counseling modalities.

Industrial 448

Industrial Mortgages Finance Development 448

Housing Wire

SEPTEMBER 20, 2024

Additionally, loan officers have lots of questions about processing, underwriting , operations and servicing , which is a continual theme. Clow: Is there anything I haven’t asked you about that you think our industry audience should keep in mind? But I’m not telling you who the recipients are.

Industrial 468

Industrial Mortgages Loan Officer Lending 468

Housing Wire

DECEMBER 20, 2024

The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? Four months later, the branch was still struggling, and worse, my top loan officer now the branch manager quit.

Industrial 394

Industrial Loan Officer Mortgages Loans 394

Housing Wire

SEPTEMBER 11, 2024

In an email to partners on Tuesday, ICE said that it will be closing down the Encompass SDK (Software Development Kit) on the same day it sunsets the program’s Technology Partner Network, Total Quality Loan Services, PSDK and ePass.

Industrial 459

Industrial Mortgages Technology Development 459

Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. JB: I think our industry is turning a corner. I literally want to push a button.

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Loan Officer Loans Technology Mortgages 370

Housing Wire

JANUARY 2, 2025

to 2,392 loans for the month, according to data compiled by Reverse Market Insight (RMI). But after additional data about the month of October was released, one metric of reverse mortgage industry performance HECM case number assignments from the Federal Housing Administration (FHA) saw a surprising increase at that time.

Mortgages 417

Mortgages Equity Principal Loans 417

Housing Wire

JANUARY 3, 2025

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. Continuing this momentum into 2025 is a priority for many in the reverse mortgage space, according to conversations with leaders at various industry lenders. One key is to bolster connections between a companys forward and reverse divisions.

Mortgages 418

Mortgages Lending Loan Officer Loans 418

Housing Wire

JUNE 14, 2024

Recent stagnation in refinancing loans, coupled with supply and demand discrepancies in housing, means originators still find themselves in an increasingly competitive landscape despite having expectations of the worst being over. Furthermore, elevated interest rates have made it more difficult for borrowers to obtain personal loans.

Loans 448

Loans Banks Equity Development 448

Housing Wire

OCTOBER 23, 2024

Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study. About 58% of respondents still relied on loan officers to guide them through the process.

Mortgages 459

Mortgages Loan Officer Loans Technology 459

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 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

JULY 29, 2024

It maintains interest rates that have been described by reverse mortgage industry professionals as potentially more beneficial than what the industry itself can provide to area seniors under federally sponsored programs. The maximum loan amount is $150,000. The borrower receives a monthly payment.

Mortgages 448

Mortgages Principal Loans Industrial 448

Housing Wire

OCTOBER 18, 2024

To open the conversation, Sanchez asks Jacobson to explain how Fairway harnesses the power of positive recommendations to boost production for the company’s loan officers. He explains that speed and customer service rule every aspect of business, including the mortgage industry. As consumers, we expect instant everything.

As-is 448

As-is Loan Officer Loans Mortgages 448

Housing Wire

OCTOBER 23, 2024

In its announcement, the company explained that Rate Intelligence has been working behind the scenes for the past two years to help originate billions of dollars in loans. Victor Ciardelli: There is a profound shift taking place in the mortgage industry. billion across more than 40,000 loans using this technology.

Mortgages 435

Mortgages Technology Loans Development 435

Housing Wire

JULY 12, 2024

Half of loans in loss-mitigation status at the time of the survey were expected to “permanently perform“ and avoid foreclosure status, Auction.com reported. This included 58% of conforming loans purchased by Fannie Mae and Freddie Mac , 49% of government-backed loans and 34% of nonagency loans.

Equity 488

Equity Loans Commercial Mortgages 488

Housing Wire

OCTOBER 9, 2024

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. decline in purchase loan demand. 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2%

VA loan 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

MAY 21, 2024

VA policy states that while a veteran is allowed to use a buyer broker to purchase a home using their VA loan benefit, they “may not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Agents Loans MLS 523

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

SEPTEMBER 26, 2024

New York-based Simplist Technologies , which has developed a consumer-facing mortgage platform, introduced a new software solution on Thursday for mortgage professionals that combines a loan origination system (LOS) with a point-of-sale system (POS).

Mortgages 448

Mortgages Loans Technology Branding 448

Housing Wire

OCTOBER 16, 2024

Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. “As the mortgage industry prepares for volume to increase, we wanted to help lenders handle that volume much more efficiently,” Reggora CEO Brian Zitin said.

FHA loan 435

FHA loan Mortgages Loans Technology 435