Housing Wire

NOVEMBER 14, 2024

With several top 10 reverse mortgage lenders now active in some form within the U.S. Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable.

Investor 369

Investor Mortgages Bankruptcy Equity 369

Housing Wire

APRIL 1, 2025

The current reverse mortgage industry market leader, Mutual of Omaha Mortgage , announced on Tuesday that it has launched a new proprietary reverse mortgage product, with initial availability in California and Florida. It offers adjustable- and fixed-rate options with a maximum loan amount of $4 million.

Mortgages 260

Mortgages Principal Equity Loans 260

Housing Wire

FEBRUARY 6, 2025

Rithm Capital , which owns multichannel mortgage lender Newrez , built upon its success in 2023 with net income of $835 million in 2024. billion in consumer loans from Goldman Sachs while also closing a deal to purchase Sculptor Capital Management and its $33 billion in assets under management. In 2023, it acquired $1.4

Loans 390

Loans Equity Principal Mortgages 390

Housing Wire

MARCH 3, 2025

HousingWire is proud to announce the 2025 Finance Leaders, recognizing 40 of the most impactful finance executives in the mortgage and real estate industries.

Finance 377

Finance Lending Principal MLS 377

Housing Wire

NOVEMBER 9, 2022

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. The average mortgage holder is up by more than $92,000 compared to the start of the pandemic. What is a home equity loan? Read on to find out.

Equity 533

Equity Loans Principal Pre-approval 533

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Loans 508

Loans Principal Mortgages Real-estate owned 508

Housing Wire

JULY 8, 2024

Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. billion of single-family residential loans at a discount. The bank entered into an agreement to buy $1.8

Loans 433

Loans Principal Banks Residential 433

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

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs. With a HECM loan, the U.S.

Principal 457

Principal Mortgages Loans Equity 457

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.

Loans 476

Loans Fixed-rate mortgage Principal Renovation 476

Housing Wire

AUGUST 27, 2024

The Federal Housing Administration (FHA) announced late last week that the previously detailed updates and expansions to its 203(k) Rehabilitation Mortgage Insurance Program will be incorporated into updates for the FHA Connection (FHAC) portal. Department of Housing and Urban Development (HUD).

Loans 447

Loans Renovation Principal Finance 447

Housing Wire

JULY 22, 2024

San Francisco -based private lender Kiavi announced Monday that it has closed another multimillion-dollar securitization of residential transition loans (RTLs), bringing its six-month volume of issuances to nearly $1 billion. million in short-term RTLs (aka fix-and-flip loans or bridge loans) across 18 transactions since 2019.

Loans 454

Loans Closing Investor Principal 454

Housing Wire

SEPTEMBER 10, 2024

In the August rate update, I explained why over 99% of Home Equity Conversion Mortgages ( HECM s) are variable interest rate loans and the advantages of this over the fixed-rate counterpart. According to conventional wisdom, homeowners should hold off on getting a reverse mortgage until they need it or until interest rates decrease.

Mortgages 458

Mortgages Principal Equity Loans 458

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. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Loans 444

Loans FHA loan Principal Finance 444

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% Concessions, mortgage rate buydowns save deals. According to a new Redfin report, a record 41.9%

Seller concession 529

Seller concession Mortgages Loan Officer Loans 529

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5% percentage points.

Mortgages 499

Mortgages Staging Principal Loans 499

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 445

Loans Mortgages Industrial Principal 445

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 Perotti added that the company’s total lock volumes of $36 billion were down 7% from the prior quarter due to higher mortgage rates. For 2024 as a whole, the California -based lender earned a profit of $311.4

Principal 352

Principal Lending Equity Mortgages 352

Housing Wire

AUGUST 13, 2024

Kiavi , a San Francisco-based lender for residential real estate investors , announced on Tuesday the closing of a $400 million rated securitization of residential transition loans (RTLs) in an “oversubscribed” transaction. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Investor 446

Investor Principal Mortgages Residential 446

Housing Wire

OCTOBER 18, 2024

The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement. Monthly principal and interest mortgage payments are also required. Let’s define and compare them.

Mortgages 446

Mortgages Principal Equity Loans 446

Housing Wire

MAY 30, 2024

In March 2024, the national delinquency rate for residential mortgages stood at 2.8% for the third month in a row, up slightly from March 2023, according to the latest CoreLogic Loan Performance Insights report. Early-stage delinquencies (mortgages 30 to 59 days past due) accounted for 1.5% in March 2023. in March 2023.

Mortgages 474

Mortgages Staging Principal Loans 474

Housing Wire

NOVEMBER 6, 2024

the parent company of Guild Mortgage , sustained a $66.9 Schmidt added that a “clear differentiator” the company has is “the realization of the growth platform” stemming from its acquisitions, which included Academy Mortgage at the beginning of the year. billion in unpaid principal balance (UPB), but it recorded a net loss of $74.6

Principal 357

Principal Mortgages Loans As-is 357

Housing Wire

JANUARY 5, 2022

Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. 21 letter that a number of mortgage servicers employed by FHA-approved lenders failed to adequately implement loan modification options the FHA introduced in July.

Mortgages 493

Mortgages Loans Principal Development 493

Housing Wire

JULY 29, 2024

Officials in Montana continue to promote the specialized Reverse Annuity Mortgage (RAM) program for the state’s seniors, with one official saying that it could be a big difference-maker for those in Montana looking to age in place while gaining access to additional cash. The maximum loan amount is $150,000. It is serviced by the state.

Mortgages 448

Mortgages Principal Loans Industrial 448

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 475

Investor Mortgages Banks Principal 475

Housing Wire

OCTOBER 3, 2024

SitusAMC has struck a deal to sell a majority stake of two subsidiaries focused on mortgage risk management to investment firm VineLight Venture. The transaction involves the loan insurance firm Securent Risk Retention Group along with its data, brokerage and services business, Risk and Insurance Services.

Mortgages 445

Mortgages Principal Residential Brokerage 445

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).

Principal 431

Principal Mortgages Loans Equity 431

Housing Wire

AUGUST 16, 2024

Many seniors aren’t aware of a sensible financial tool that could ease their worry and help them thrive during their golden years: the home equity conversion mortgage, also called a reverse mortgage. Or, if they are aware of this option, they may view it with skepticism based on longstanding misconceptions.

Mortgages 482

Mortgages Principal Equity Loans 482

Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7 Rocket originated $42.3

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans.

Mortgages 447

Mortgages Equity Loans Principal 447

Housing Wire

JULY 11, 2024

Rocktop — a software-as-a-service (SaaS) company that works to improve yields for institutional investors , asset managers and other participants in the fixed-income and mortgage markets — has now placed more than $60 billion in unpaid principal balance (UPB) on its data management platform. billion in UPB. “Our

Due diligence 435

Due diligence Mortgages Investor Technology 435

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. Charting the loan officer exit. million. .

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

JULY 9, 2024

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. This power is enhanced by higher interest rates.

Mortgages 430

Mortgages Equity Principal Loans 430

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. Aimee Quinn, president of Nations Direct Mortgage, said his experience will be put toward expansion across the U.S. .

Sales 455

Sales Mortgages Principal Equity 455

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained almost unchanged in July, nudging up 0.1 in June, according to CoreLogic ’s Loan Performance Insights. Alaska, New York, Oklahoma and West Virginia posted the biggest improvements on mortgage delinquencies. percentage point to 2.7% Overall U.S. Overall U.S.

Mortgages 468

Mortgages Staging Equity Principal 468

Housing Wire

OCTOBER 2, 2023

Real estate investment trust Rithm Capital Corp has entered into a definitive agreement to acquire Computershare Mortgage Services Inc. The deal includes the purchase of Specialized Loan Servicing LLC. It includes $85 billion in third-party servicing and the Specialized Loan Servicing’s MSR portfolio. Rithm had 1.8

Mortgages 435

Mortgages Loans Principal Finance 435

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. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., My outlook is very positive.

Mortgages 458

Mortgages Principal Loans Loan Officer 458