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 448

Loans FHA loan Principal Finance 448

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

NOVEMBER 8, 2024

Side filed a temporary restraining order on Wednesday against Tal and Oren Alexander, accusing the brothers of moving the underlying collateral on a loan that Side extended to Official Partners prior to the rape accusations against the Alexanders.

Loans 370

Loans Principal Brokerage 370

Housing Wire

MARCH 5, 2024

With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Why are there two HECM interest rates used with HECM loans?

Principal 459

Principal Mortgages Loans Equity 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

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

MAY 25, 2022

One of the largest loan-servicing companies in the nation, Lakeview Loan Servicing LLC , is facing at least a dozen civil lawsuits, all seeking class-action status, in the wake of a major cyberattack that compromised the personal data of the mortgage borrowers the company serves. of all agency loans being serviced — with a $374.8

Loans 459

Loans Banks Mortgages Principal 459

Housing Wire

APRIL 4, 2024

This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). For such a critical number, little has been written about the expected rate and its impact on HECM loans. When looking up the borrower’s principal limit factor, we would use 6.75%. Example With a 2.5%

Principal 443

Principal Mortgages Loans Equity 443

Housing Wire

DECEMBER 17, 2024

The Federal Housing Finance Agency (FHFA) on Tuesday released an update about the sales of non-performing loans (NPLs) through the government-sponsored enterprises (GSEs), saying the data has shown a steady drop in mortgage delinquencies since the start of COVID-19 pandemic. These loans had an average delinquency rate of 2.8

Loans 397

Loans Sales Principal Design 397

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 448

Investor Principal Mortgages Residential 448

Housing Wire

MAY 29, 2024

The government-sponsored enterprises (GSEs) are now targeting a 20% reduction in principal and interest (P&I) payments to keep borrowers facing permanent financial stress in their homes. “The In a lender letter , Fannie Mae said that the updates expand eligibility by revising the mark-to-market loan-to-value-based requirements.

Principal 466

Principal Loans Mortgages Finance 466

Housing Wire

FEBRUARY 21, 2024

Regarding other initiatives, Gordon said the FHA is “also hoping soon to put out our servicing defect taxonomy ” and, in the near future, will be releasing a mortgagee letter for the 203(k) renovation loan program. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae.

Principal 459

Principal Loans Mortgages Renovation 459

Housing Wire

OCTOBER 10, 2024

According to the BofA report, there are 833,268 mortgages originated in the affected regions and securitized into residential mortgage-backed securities (RMBS), totaling $96 billion in unpaid principal balance (UPB). Most of them are in Florida (53%), followed by North Carolina (19%), South Carolina (18%), Georgia (8%) and Virginia (3%).

Loans 375

Loans Equity Principal Residential 375

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 The average loan balance in the reference pool is $315,272, with the maximum balance at $1.56

Principal 448

Principal Loans Investor Residential 448

Housing Wire

MAY 20, 2022

The transaction, CIRT 2022-5 involved a covered loan pool of 67,700 single-family mortgages with a total unpaid principal balance of about $21 billion. The loans in the pool are fixed-rate mortgages with mostly 30-year terms and loan-to-value ratios ranging from 80.1% If that $136.2 million effective as of April 1.

Principal 448

Principal Fixed-rate mortgage Loans Mortgages 448

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. After all, older ages and lower interest rates generally yield higher principal limits. To the novice, this may appear to be the right choice.

Mortgages 459

Mortgages Principal Equity Loans 459

Housing Wire

OCTOBER 18, 2024

HOME EQUITY CONVERSION MORTGAGE (HECM): The HECM allows homeowners age 62+ the ability to leverage a portion of their home’s value without a required monthly principal and interest mortgage payment.* Monthly principal and interest mortgage payments are also required. Let’s define and compare them.

Mortgages 448

Mortgages Principal Equity Loans 448

Housing Wire

OCTOBER 22, 2024

It can improve loan production and acquisitions but hurt their servicing portfolios. In total, loan acquisitions and originations had an unpaid principal balance (UPB) of $31.7 At the same time, our servicing portfolio — now near $650 billion in unpaid principal balance and nearly 2.6 million from July to September.

Principal 435

Principal Loans Mortgages Lending 435

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.”

Principal 434

Principal Loans Loan Officer Mortgages 434

Housing Wire

MAY 25, 2021

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.),

FHA loan 493

FHA loan VA loan Loans Loan Officer 493

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.

Principal 459

Principal Due diligence Lending Title 459

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Pool 1 was composed of 1,790 loans valued at $337.8 acting as advisor.

Sales 418

Sales Principal Loans Banks 418

Housing Wire

MARCH 1, 2024

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions.

Closing 458

Closing Investor Principal Residential 458

Housing Wire

JULY 29, 2024

Under the program’s guidelines, the maximum loan amount is determined based on “80 percent of the FHA-determined value of the home,” Cohen said. The maximum loan amount is $150,000. It’s a first-lien position, so they pay off the first loan, if there is one.” The borrower receives a monthly payment.

Mortgages 448

Mortgages Principal Loans Industrial 448

Housing Wire

MARCH 24, 2022

The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association. Conventional loans’ national median mortgage payment went from $1,582 in January to $1,749 in February. in the prior month.

FHA loan 518

FHA loan Fixed-rate mortgage Loan Officer Principal 518

Housing Wire

OCTOBER 11, 2023

allows the company to improve its fee-based income as the deal includes the purchase of Specialized Loan Servicing LLC (SLS). “The The deal will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance to Rithm. CEDAR CREEK, Texas — Real estate investment trust Rithm Capital Corp.’s

Principal 493

Principal Loans Investor Finance 493

Housing Wire

JANUARY 2, 2025

to 2,392 loans for the month, according to data compiled by Reverse Market Insight (RMI). They are issued by HUD once a HECM loan application has been submitted to the agency. Case number assignments and loan volume yields can ultimately diverge, but the former can often be predictive for the latter. They jumped by 11.3%

Mortgages 417

Mortgages Equity Principal Loans 417

Housing Wire

APRIL 19, 2024

The government mortgage bond guarantor incorporated expanded its payment default status (PDS) reporting, including loan default information, any mitigation actions taken and the timing of these actions. Additionally, subservicers that collaborate with Ginnie Mae issuers will be subject to this mandate, according to National Mortgage News.

Principal 447

Principal Loans Residential Mortgages 447

Housing Wire

MAY 30, 2024

for the third month in a row, up slightly from March 2023, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. of all mortgages in February, up from 1.1% in March 2023. in March 2023.

Mortgages 476

Mortgages Staging Principal Loans 476

Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week.

Principal 416

Principal Finance Banks Loans 416

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

APRIL 26, 2024

The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

Mortgages 501

Mortgages Staging Principal Loans 501

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

Housing Wire

NOVEMBER 4, 2022

Purchase loans accounted for 82.7% Since the start of Game On, we’ve had thousands of loan officers try us for the first time, experiencing our technology, our services and quickly realizing that partnering with UWM can help them win in any market.”. UWM originated $33.5 billion in production. UWM reported a profit of $325.6

Principal 87

Principal Loan Officer Loans Mortgages 87

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 445

Principal Commercial Loans Mortgages 445

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.

Seller concession 529

Seller concession Mortgages Loan Officer Loans 529

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 476

VA loan Loans Principal Mortgages 476