Housing Wire

JANUARY 31, 2025

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 “PennyMac maintained its dominant position in correspondent lending in the fourth quarter, with total acquisitions of $28 billion, up from $26 billion in the prior quarter, he said. million, up from $144.7

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Principal Lending Equity Mortgages 362

Housing Wire

NOVEMBER 11, 2021

With renewed attention towards the manufactured housing space, the FHA moved this week to provide updated guidance to its Title I loan program, making it easier to understand and use for lenders. The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.).

Loans 476

Loans Title Finance Lending 476

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

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Lending Principal Finance Loans 435

Housing Wire

NOVEMBER 16, 2023

Nonbank originator Change Lending and the U.S. A Barron’s investigation found that Change failed to meet its underserved lending requirements in 2022, resulting in the lender being removed from the CDFI Fund’s list of certified program lenders in August. On Wednesday, the parties notified Judge James Selna of the U.S

Lending 447

Lending Principal Finance Loans 447

Housing Wire

SEPTEMBER 30, 2021

The Department of Veterans Affairs announced this week that it is extending the timeframe for borrowers to request loan deferment. According to the VA’s circular, servicers may continue offering loan deferment until July 1, 2023, thus pushing the deadline nearly two additional years.

Loans 435

Loans Principal Lending Industrial 435

Housing Wire

NOVEMBER 5, 2024

It has an emphasis on first-time homebuyers ; purchase loans through an expanded geographic footprint and partnerships; servicing portfolio scale and retention; operating leverage quality to drive down turn times; and recruiting, developing and retaining the best talent available. Meanwhile, the company’s total revenues reached $314.6

Purchase and sale agreement 397

Purchase and sale agreement Equity Loan Officer Principal 397

Housing Wire

DECEMBER 20, 2024

At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. The lender chose LoanPASS to provide its software-as-a-service (SaaS) product and pricing engine in its reverse lending operations.

Mortgages 397

Mortgages Technology Principal Industrial 397

Housing Wire

AUGUST 14, 2020

A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology. Lessinger is a founding principal and broker/owner of RE/MAX Realty in Nevada, having built a team of 130 agents in three offices over the span of 22 years.

Lending 384

Lending Principal Industrial Development 384

Housing Wire

APRIL 21, 2022

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead. So I say keep the guidance coming, because we are building it and we hope the lending community will come.”. Notwithstanding all of the guidance, we still hear concerns of legality from lenders,” Perry said. “So

Lending 435

Lending Finance Principal Development 435

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. That’s up 5.5% compared to the current limit of $726,200.

Loans 447

Loans FHA loan Principal Finance 447

Housing Wire

APRIL 1, 2025

Name Job Title Company Name Aaron Heidorn Director of Software Engineering & Infrastructure Cloudvirga Aaron Smith Director, Sales CubiCasa Adrian Provost Chief Executive Officer Realty ONE Group Terminus Ana LeBlanc Human Resources Director InterLinc Mortgage Annie Lemon Producing Branch Manager Gold Star Mortgage Financial Anthony Russo Diamond (..)

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Lending Technology Title Development 304

Housing Wire

AUGUST 11, 2022

In an additional note of caution looking forward, the lender’s SEC filing indicates that it cannot guarantee requests for future loan-covenant amendments or waivers will be agreed to by its lenders, “in which case we would be in default under these agreements.”. ” The lender wrote in its SEC filing that as of June 30, it had $90.8

Loans 418

Loans Principal Lending Mortgages 418

Housing Wire

APRIL 3, 2025

In return for lending money to Reverse Mortgage Funding (RMF), TCB said it received a first priority lien on certain HECM collateral. Tails are not from new loans, but they do represent new amounts lent. The bank described it as critically important since without it, the only collateral TCB could rely on was a bankrupt company.

Banks 264

Banks Principal Mortgages Lending 264

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.

Loans 448

Loans Renovation Principal Finance 448

Housing Wire

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings. Breaking it down There was a total of $335.6

Loans 447

Loans Mortgages Industrial Principal 447

Housing Wire

MAY 1, 2023

We’ve asked Phillip McCall, president and chief operating officer at ACES Quality Management , how lenders can keep up with new and upcoming regulations to maintain loan quality in this very competitive environment. Our team has literally gone through the alphabet soup of lending regulations to fully apply them within our technology.

Loans 397

Loans Lending Technology Principal 397

Housing Wire

AUGUST 17, 2023

Bank of America (BofA) prevailed in a court case brought against it by Cook County , Illinois , which sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago area. Cook County, the judge said, was too far removed from the alleged predatory lending scheme to be considered the proper plaintiff.

Banks 370

Banks Lending Principal Loans 370

Housing Wire

JANUARY 10, 2025

Brown also served as managing director of sales for mortgage technology firm Black Knight , as chief revenue officer for Lift Strategic Partners and as principal for Brown Derby Consulting. Brown expressed excitement over his new role and said he intends to continue serving customers with new solutions.

Principal 370

Principal Lending Development Mortgages 370

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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Principal Due diligence Lending Title 459

Housing Wire

NOVEMBER 9, 2022

Garth Graham, senior partner and manager of merger and acquisition activities for the Stratmor Group , said many of the layoffs in the IMB industry so far have involved employees working in support positions, with loan officer jobs being the last to be jettisoned. Charting the loan officer exit.

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

JANUARY 11, 2024

Ginnie Mae: loans are our ‘absolute property’ In a filing to the court submitted on Wednesday, Ginnie Mae — using its official acronym “GNMA” in court filings — said that TCB cannot challenge the authority the company maintains over the reverse mortgage securities program. TCB’s interest, Ginnie Mae said, “derived entirely from RMF.”

Lending 459

Lending Bankruptcy Mortgages Principal 459

Housing Wire

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. On July 24, the CFPB announced consent orders against Sovereign Lending Group, Inc.,

VA loan 501

VA loan Mortgages Loans Lending 501

Housing Wire

JULY 12, 2024

But it was not enough to bring home loan originations to year-ago levels. Wells Fargo is focused on purchase loans, which accounted for 87% of the total volume in the period. “Credit performance during the second quarter was consistent with our expectations,” Wells Fargo CEO Charlie Scharf told analysts. It reached $5.3

Mortgages 457

Mortgages Lending Banks Principal 457

Housing Wire

OCTOBER 12, 2021

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. Additionally, the lawsuit claims that PNC’s practices violated the Maryland Consumer Protection Act (MCPA).

Banks 397

Banks Principal Loans Lending 397

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 516

Banks Lending Loans Principal 516

Housing Wire

JANUARY 10, 2022

Currently, the lender ranks sixth place among the top wholesale lenders in the nation, though its rebranding could signal that PennyMac is looking to increase its market share in the wholesale lending space. In the wholesale lending space, there has been a notable push to entice brokers to come onboard. As of Sept.

Principal 397

Principal Lending Technology Loans 397

Housing Wire

APRIL 12, 2024

The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. All of its production in Q1 2024 came from its retail branches and was mainly focused on purchase loans. billion in Q1 2024.

Mortgages 468

Mortgages Banks Fixed-rate mortgage Lending 468

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb.

Due diligence 397

Due diligence Mortgages Principal Lending 397

Housing Wire

AUGUST 12, 2024

California -based HighTechLending , a top-10 lender in the reverse mortgage industry, recently announced that it was rebranding its wholesale channel to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

Lending 459

Lending Loan Officer Branding Principal 459

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 448

Mortgages Lending Banks Investor 448

Housing Wire

APRIL 24, 2024

The company’s loan production pretax income was $35.9 Pennymac reported that the quarterly increase in production revenue was primarily tied to higher net gains on loans held for sale at fair value due to higher volumes in its direct-to-consumer channel. The total value of its loan acquisitions and originations dropped to $21.7

Loans 448

Loans Lending Principal Mortgages 448

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.

Industrial 418

Industrial Mortgages Principal Loans 418

Housing Wire

MARCH 1, 2021

With low interest rates and a booming refinance market, it is natural that loan officers and brokers are focused on agency loans and also a thriving purchase market. The guidelines for QM [loans] are pretty stringent,” he said. “We We are that next outlet for people who have complicated scenarios. Flexible Programs.

Lending 417

Lending Banks Loans Investor 417

Housing Wire

JANUARY 7, 2021

In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Now, it says the market is set to see widespread eClosings of Ginnie Mae loans by the end of this year. Leveraging eClosings to effectively manage increased loan volumes.

Closing 516

Closing Mortgages Loans Title 516

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270. 20, 2022, to Feb.

Due diligence 370

Due diligence Mortgages Principal Lending 370

Housing Wire

JUNE 28, 2024

The purpose of the committee is to provide nonbinding advice to the agency on how Fannie Mae , Freddie Mac and the Federal Home Loan Banks can achieve their goals as a “reliable and responsible source of liquidity and funding“ across the single-family and multifamily housing sectors.

Lending 418

Lending Principal Finance Land 418

Housing Wire

AUGUST 4, 2022

Jay Farner, vice chairman and CEO of Rocket Companies, said the company introduced new lending programs, forged new mortgage partnerships, launched the solar business and expanded the brand to Canada during the quarter. billion in closed loans from April to June, down from $83.7 The company originated $34.5

Principal 435

Principal Lending Branding Mortgages 435