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

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 418

Loans FHA loan Principal Marketing 418

Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” I think, as a whole, the industry is reacting pretty favorably to this.

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Development Industrial Mortgages Fixed-rate mortgage 458

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said.

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Industrial Mortgages Principal Loans 418

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

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Loan Officer Loans Mortgages Industrial 435

Housing Wire

MARCH 20, 2024

“Although the timing of the cuts and when they will commence is still an open question, the fact that the recent uneven inflation data did not appear to alter the Fed’s projection of three rate cuts in 2024 is reason for optimism,” said Marty Green, principal at Polunsky Beitel Green.

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Industrial Mortgages Banks Principal 468

Housing Wire

FEBRUARY 24, 2023

That’s why industry leaders are working on new solutions to the loss mitigation toolkit, including successors for the Covid-19 partial claim options. We know that the loan modification as we know at the Covid recovery model, every other type of loan modification, relies on a rate and term.

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Industrial Principal Loans Mortgages 397

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

NOVEMBER 2, 2022

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. We have lenders coming to us asking about the potential impact of a mortgage loan closing should the NFIP lapse. The NFIP’s authority to operate must be periodically renewed by Congress.

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Industrial Seller disclosure Mortgages Principal 418

Housing Wire

OCTOBER 31, 2022

“The increased M&A activity to-date has been fueled primarily by two factors: 1) pent-up demand for retirement by aged owners who achieved lifetime net worth objectives, and 2) the current industry challenges with more storm clouds on the horizon,” David Hrobon, principal at Stratmor wrote in its October Insights Report.

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Industrial Mortgages Principal Loans 396

Housing Wire

MARCH 22, 2022

New York-based Mortgage Industry Advisory Corp. MIAC) is in the market with two whole-loan offerings of nonperforming Ginnie Mae-insured mortgages that combined are valued at more than $1.2 The two deals involve nonperforming loans that are eligible for early buyouts (EBOs) from Ginnie Mae loan pools.

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Loans Marketing Principal Mortgages 367

Housing Wire

FEBRUARY 2, 2021

Ginnie Mae announced its first guarantee of a mortgage-backed security backed by digital pools, or pools of loans that consist entirely of eNotes. The MBS were loans closed by Rocket Mortgage in December, are issued as of Jan. The total principal value of the digital pools came to about $24 million.

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Principal Closing Loans Mortgages 511

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

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Industrial Banks Loans Design 397

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. A housing recession is here, Marty Green, principal at Polunsky Beitel Green , emphasized. . As of September, the median home price was $384,800 for existing homes of all types, an 8.4%

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Industrial Mortgages Fixed-rate mortgage Principal 435

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 3, 2024

The transaction involves the loan insurance firm Securent Risk Retention Group along with its data, brokerage and services business, Risk and Insurance Services. He previously worked with VineLight’s principals, Bryan Binder and Jason Garmise, at CastleLine , a provider of mortgage data and insurance products.

Mortgages 447

Mortgages Principal Residential Brokerage 447

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 464

Mortgages Seller concession Principal Loans 464

Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said.

Industrial 418

Industrial Mortgages Purchase and sale agreement Banks 418

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And industry experts say it’s not a systemic threat.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Banks 370

Housing Wire

APRIL 24, 2024

The Rising Stars award recognizes the emerging leaders in the industry who have demonstrated rapid career growth and an ability to lead, achieving remarkable milestones all before the age of 40. HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate.

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Principal Due diligence Lending Title 459

Housing Wire

FEBRUARY 28, 2022

The FHFA would also eliminate the non-performing loan charge, which industry stakeholders had complained was procyclical, the agency wrote. The charge currently assesses a 200 basis point charge after the share of a servicer’s non-performing loans goes over 6%. But the FHFA’s proposed requirements contain some tradeoffs.

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Principal Loans Industrial Banks 418

Housing Wire

MARCH 5, 2024

Sanjiv Vas, former CEO of Caliber Home Loans , has joined the board of directors at Two Harbors Investment Corp , a Minnesota-based real estate investment trust that expects to launch a mortgage originations platform in the second quarter of 2024. Before joining Pagaya, Vas was CEO of Caliber Home Loans.

Principal 440

Principal Commercial Loans Mortgages 440

Housing Wire

MARCH 17, 2022

These multiple market pressures have fueled rate volatility and accompanying pricing-execution pressures that have led to a difficult beginning of the year for the private-label securities (PLS) market, according to market experts, and, as a side effect, sparked a more robust market for whole-loan sales — with loans often being sold at a discount.

Loans 416

Loans Marketing Due diligence Residential 416

Housing Wire

MAY 10, 2023

That’s the entire mortgage industry shouting, “hip, hip hooray!” ” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%. Did you hear that sound?

FHA loan 539

FHA loan Loans Principal Mortgages 539

Housing Wire

AUGUST 29, 2024

-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans , the parties announced on Thursday. home loans. home loan program.” mortgage industry.”

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Principal Loans Loan Officer Mortgages 432

Housing Wire

JANUARY 22, 2024

Lux’s career includes positions at Freddie Mac where he was executive vice president and chief information officer for seven years, and principal at Towers Watson , a global professional services company, where he was responsible for leading teams in the delivery of commercial risk modeling technology for the insurance industry.

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Technology Principal Commercial Loans 442

Housing Wire

NOVEMBER 18, 2024

by a number of industry players. Department of Veterans Affairs (VA) and the Federal Home Loan Banks (FHLBs) in New York, Chicago and San Francisco. The initiative comes as the mortgage industry prepares for mandatory adoption of VantageScore 4.0 These include the U.S. now or risk losing access to key mortgage GSEs.”

Mortgages 412

Mortgages Principal Banks Loans 412

Housing Wire

APRIL 7, 2021

These results are notable considering the sheer speed and impact the pandemic had on the mortgage finance industry. The servicing industry had to do this even while shifting its own workforce out of the office and into their homes. In a flash, millions of Americans lost their jobs and incomes. million Americans enter forbearance plans.

Mortgages 504

Mortgages Principal Loans Finance 504

Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan 448

VA loan Principal Residential Loans 448

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 Meanwhile, Rocket’s servicing portfolio, including subserviced loans, had a UPB of $534.6 million loans, generating about $1.4 billion in market value as of June 30. billion as of June 30. Annaly was No.

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Closing Principal Loans Finance 433

Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit.

Mortgages 447

Mortgages VA loan Principal Loans 447

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. VA loans are probably the best loans on the market.

VA loan 476

VA loan Loans Principal Mortgages 476

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. for the week ending January 6, compared to the week earlier, when the 30-year rates for conforming loans ($647,200 or less) went from 6.58% to 6.42%. ” Gano’s experiences reflect what happened in the market overall.

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Seller concession Mortgages Loan Officer Loans 529

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Layoffs, LOs leaving the industry for good. over asking price. High octane stuff.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

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Principal Loans Investor Banks 468

Housing Wire

OCTOBER 24, 2024

Mutual of Omaha Mortgage ’s reverse division has launched a new program, “Broker Protect,” that aims to offer what it calls industry-first protections to brokers doing business with the company. We see this program as a way to show our broker and principal agent partners that we are aligned with their success.”

Principal 448

Principal Branding Investor Mortgages 448

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. So, I’m really continuing to focus on the active adult market for what we call the “lifestyle home loan,” commonly known as HECM for Purchase.” My outlook is very positive.

Mortgages 459

Mortgages Principal Loans Loan Officer 459