Housing Wire

OCTOBER 7, 2024

In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. This approach integrates QC principles throughout the lending process, from application to servicing.

Lending 459

Lending Mortgages Technology Loans 459

Housing Wire

DECEMBER 17, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

Loans 393

Loans Mortgages Finance Lending 393

Housing Wire

DECEMBER 10, 2024

OneTrust Home Loans , a DBA of CalCon Mutual Mortgage LLC based in San Diego , Calif., announced this week the appointment of Gabe Bodner to the head of its 55-plus lending division which includes its reverse mortgage business. and Cherry Creek Mortgage prior to its acquisition by Guild Mortgage.

Lending 368

Lending Loans Mortgages Technology 368

Housing Wire

OCTOBER 22, 2024

Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls’ prior experience spans several companies — including Movement Mortgage and WR Starkey Mortgage.

Lending 423

Lending Mortgages Loan Officer Development 423

Housing Wire

AUGUST 30, 2024

Mortgage banking executive and industry mergers & acquisitions advisor Rick Roque has taken a new executive position at NFM Lending. ” Roque’s arrival at NFM comes just a few months after he joined Sierra Pacific Mortgage as executive vice president of retail. . NFM is licensed in 49 states and Washington, D.C.

Lending 435

Lending Land Banks Loans 435

Housing Wire

JANUARY 6, 2025

GVC Mortgage announced the hiring of Jen Peachman as vice president of strategic lending, a move that Peachman confirmed on LinkedIn. ” With more than 20 years of experience in mortgage and financial services, Peachman formerly served as national director of origination sales for Lenders One Mortgage Cooperative. .”

Lending 418

Lending Mortgages Loans Sales 418

Housing Wire

APRIL 29, 2024

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning.

Lending 482

Lending Commercial Residential Loans 482

Housing Wire

JANUARY 6, 2025

Vanderbilt Mortgage & Finance , part of Warren Buffetts conglomerate Berkshire Hathaway , has been accused by the Consumer Financial Protection Bureau (CFPB) of manipulating underwriting standards and setting borrowers up to fail in manufactured home loans. After paying their mortgage, one family was left with $57.78

Loans 448

Loans Finance Lending Mortgages 448

Housing Wire

MAY 17, 2024

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , Meanwhile, the Consumer Financial Protection Bureau (CFPB) is targeting “ junk fees” in mortgage origination and borrower-paid lender title policies.

Lending 474

Lending Closing Banks Commercial 474

Housing Wire

AUGUST 2, 2024

HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

Lending 444

Lending Branding Loan Officer Technology 444

Housing Wire

JULY 29, 2024

Home equity lending in 2023 grew by only 1.5% in the same time period, according to a study released Monday by the Mortgage Bankers Association (MBA). The data includes total originations of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans. billion per company in 2023, compared with $2.1

Equity 444

Equity Lending Loans Renovation 444

Housing Wire

AUGUST 2, 2024

is acquiring Garden State Home Loans Inc. Garden State had 34 sponsored loan officers and two active branches—in Medford (New Jersey) and Maitland (Florida)—as of Friday, per the Nationwide Multistate Licensing System (NMLS). The company, founded in 2011 as a mortgage broker, transitioned to a mortgage lender in 2017.

Banks 463

Banks Loans Loan Officer Lending 463

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

SEPTEMBER 30, 2024

The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 has surged by 20-30%, with more than 5,000 lenders originating mortgages in 2023. James Keegan is a Senior Loan Originator at New Silver Lending.

Lending 433

Lending Technology Banks Loans 433

Housing Wire

OCTOBER 25, 2024

Minneapolis -based mortgage lender Luminate Home Loans has decided to shutter its NEO Home Loans division, which transitioned to the firm two years ago, the company announced on Friday. The mortgage firm, which has been in business since 1998, is a subsidiary of Luminate Bank.

Loans 434

Loans Closing Banks Lending 434

Housing Wire

FEBRUARY 3, 2025

Nationwide direct mortgage lender US Mortgage Corporation announced the appointment of Alana Dorbandt as its new vice president and division lending manager. “We are confident that her leadership will positively impact the overall growth and success of US Mortgage.” million.

Lending 308

Lending Mortgages Loan Officer Sales 308

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital. “In

Construction 459

Construction Development Loans Lending 459

Housing Wire

JULY 11, 2024

The efficiency and reliability of property appraisals are the linchpin to the success of a steady flow of mortgage transactions. This acceleration allows lenders to close loans faster, improving overall customer satisfaction and enhancing competitiveness in the market.

Lending 463

Lending Technology Industrial Loans 463

Housing Wire

DECEMBER 5, 2024

Highlands Residential Mortgage announced that Daniel McCoy is joining the company as a regional construction loan manager for the Southeast. Daniel McCoy McCoy leads the construction-focused McCoy Mortgage Team , which has previously affiliated with companies like MVB Mortgage , Intercoastal Mortgage and Cardinal Financial.

Residential 377

Residential Construction Loans Mortgages 377

Housing Wire

FEBRUARY 11, 2025

Our economy faces many challenges persistent high mortgage interest rates , a declining rate of existing home sales, elevated costs for basic goods and services, labor market imbalances, and rising health care costs to name just a few. The availability of funding at the local level is the driving force in building stronger communities.

Lending 382

Lending Development Banks Loans 382

Housing Wire

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates. Our veterans deserve better. Click Here

Lending 435

Lending VA loan Loans Mortgages 435

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

OCTOBER 11, 2024

in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% CoreLogic’s risk index rose 8.3%

Mortgages 516

Mortgages Sales Loans Lending 516

Housing Wire

OCTOBER 18, 2024

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. 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. PST on Oct.

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

FEBRUARY 4, 2025

Cornerstone Capital Bank , a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. ” The Community Lending Division will offer mortgage programs and products tailored to benefit underserved borrowers.

Lending 300

Lending Banks Mortgages Loans 300

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

FHA loan 474

FHA loan Mortgages Loan Officer Loans 474

Housing Wire

JANUARY 2, 2025

Rising mortgage rates suppressed applications in the Mortgage Bankers Association (MBA) final mortgage applications survey index of 2024, released on Thursday. Mortgage demand declined 21.9% Rates for 30-year conforming loans averaged 7.10% on Thursday, up 21 basis points (bps) in the past two weeks.

FHA loan 468

FHA loan Mortgages VA loan Loans 468

Housing Wire

JUNE 5, 2024

Mortgage demand keeps on falling. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. Department of Veterans Affairs (VA) loan applications. the previous week.

VA loan 472

VA loan Mortgages Fixed-rate mortgage Loans 472

Housing Wire

JANUARY 8, 2025

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. At HousingWire s Mortgage Rates Center on Wednesday, the 30-year fixed rate averaged 7.11%, clouding the housing market outlook for 2025.

Equity 434

Equity Loans Lending Investor 434

Housing Wire

OCTOBER 28, 2024

Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement.

Loans 396

Loans Mortgages Technology Development 396

Housing Wire

OCTOBER 28, 2024

Mortgage tech firm Ocrolus has introduced Inspect, a new solution within its artificial intelligence -driven mortgage document automation technology, which the company said will improve efficiency and scalability in loan origination. Currently, Ocrolus supports more than 95% of mortgage document types.

Inspection 447

Inspection Mortgages Technology Lending 447

Housing Wire

FEBRUARY 3, 2025

The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. Department of Veterans Affairs (VA) loans, which made up 10%, according to purchase loan lock data from Optimal Blue.

Debt-to-income ratio 371

Debt-to-income ratio Loans VA loan FHA loan 371

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 431

Mortgages Equity Loan Officer Loans 431

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash. Finance a loan, and you may lose money.

Loans 295

Loans Mortgages Equity Construction 295

Housing Wire

JULY 12, 2024

Wells Fargo , JPMorgan Chase and Citi opened the second-quarter earnings season in the mortgage space on Friday by showing strong increases in sales volumes from April to June compared to the previous quarter. But it was not enough to bring home loan originations to year-ago levels. It reached $5.3 billion in Q2 2024, up from $8.6

Mortgages 454

Mortgages Lending Banks Principal 454

Housing Wire

AUGUST 6, 2024

The downward movement in mortgage rates over the past few months accelerated last week as a cooler-than-expected jobs report and indications of a Federal Reserve rate cut led to a steep drop in loan pricing. Depending on the loan scenario, originators across the country are offering even lower prices to borrowers.

Mortgages 505

Mortgages Loans Lending Equity 505