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.

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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.

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Industrial Mortgages Loan Officer Loans 434

Housing Wire

JANUARY 10, 2025

Industry responses to the disaster In its weekly email update to members, the National Reverse Mortgage Lenders Association (NRMLA) advised its members to urge borrowers to immediately contact their servicers. “Assistance options may include postponement of monthly payments, repayment plans, or loan modifications.

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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.

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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.

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Industrial Mortgages Loan Officer Loans 459

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.

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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?

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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.

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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.

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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.

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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.

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Technology Industrial Mortgages Development 448

Housing Wire

SEPTEMBER 19, 2024

But the increase itself was relatively modest and the share of loans with defects now stands at 1.58%, according to a report released Thursday by ACES Quality Management. The company’s Mortgage QC Industry Trends Report analyzes post-closing quality control data taken from its Quality Management & Control software platform.

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Loans Mortgages FHA loan Industrial 424

Housing Wire

OCTOBER 1, 2024

With interest rates trending downward and refinances picking up, the industry is preparing for an upswing. However, the most recent ACES Mortgage QC Industry Trends Report found critical defect rates jumped up in the first quarter (Q1) of this year.

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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.

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Housing Wire

JANUARY 30, 2025

Sage Home Loans Corp. “We are thrilled to welcome Bijoy John as the new Senior VP of Marketing at Sage Home Loans Corporation,” Sage Home Loans’ CEO Mike Malloy said in an email. Sage Homes Loans is based in Fort Mill, South Carolina. John will reportedly focus on leading borrower retention efforts.

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Loans Marketing Lending Banks 361

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.

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Industrial Mortgages Loan Officer Lending 467

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.

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Industrial Loan Officer Mortgages Loans 391

Housing Wire

FEBRUARY 6, 2025

In addition to all of these challenges, economic factors outside of housing are making it harder for potential buyers to acquire qualifying mortgage loans. Most lenders focus on offering traditional mortgage loans to clients, choosing to shy away from unconventional options in the market. Finance a loan, and you may lose money.

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Housing Wire

OCTOBER 7, 2024

Photo courtesy of Willie & Kim Photography) Mortgage industry leaders expect more mergers and acquisitions (M&A) in 2025, fueled by declining interest rates and renewed market confidence after two years of what they describe as “modest activity.”

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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.

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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

SEPTEMBER 17, 2024

The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. DTIs on Fannie- and Freddie-backed loans have also risen, he said.

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Debt-to-income ratio Loans Lending Finance 433

Housing Wire

FEBRUARY 12, 2025

Entering the mortgage industry as a loan officer can be both exciting and overwhelming. Ive spent years in the industry , and as my son prepares to take his NMLS exam, these are the key expectations I will share with him to navigate his first year in the business. How you dress reflects how seriously you take your role.

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Loan Officer Loans Industrial Development 265

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.

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Mortgages Loan Officer Loans Technology 459

Housing Wire

FEBRUARY 6, 2025

New data released Thursday by the Mortgage Bankers Association (MBA) revealed that the delinquency rate for mortgages on one- to four-unit residential properties increased to a seasonally adjusted rate of 3.98% of all loans outstanding at the end of 2024. Department of Veterans Affairs loans. And likewise, it’s gone up for VA.

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VA loan FHA loan Debt-to-income ratio Loans 393

Housing Wire

FEBRUARY 6, 2025

The housing benefits pushed more than 28 million home loans for Veterans over the last 80 years. The number of financial institutions servicing home loans has declined. However, I’ve observed that many of todays service members are unaware of the VA benefits theyve earned.

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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%.

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Mortgages Equity Loan Officer Loans 433

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.

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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.

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Mortgages Technology Loans Development 435

Housing Wire

JANUARY 23, 2025

billion in total or as much as $1,692 per loan. According to the release, Nigrinis and Zywicki analyzed how much widespread use of automated title risk assessments would lower consumer costs, promote greater transparency and increase industry competition. The pilot program is slated to run through May of 2026.

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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.

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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%

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VA loan Mortgages FHA loan Loans 457

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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Housing Wire

JANUARY 27, 2025

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

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Equity Mortgages Loans Residential 369

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.

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Mortgages Marketing Lending Finance 524

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.

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FHA loan Mortgages Loans Technology 435

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).

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