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 432

Loans Principal Banks Residential 432

Housing Wire

FEBRUARY 6, 2025

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 total, its funded loan volume jumped from $8.9 Its refinance recapture rate in 2024 when including closed-end second-lien loans was 52%, up from 41% two years earlier.

Loans 386

Loans Equity Principal Mortgages 386

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 451

Loans Closing Investor Principal 451

Housing Wire

DECEMBER 27, 2024

We’ll have those loans that come in where we have to look at every opportunity that we can to save that deal and help that client. We’re expanding our reach, becoming a principal agent in a lot of states, Moriello said. Were seeing market headwinds, and not really seeing a lot of release in the rates.

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Industrial Mortgages Principal Lending 397

Housing Wire

MARCH 3, 2025

Name Job Title Company Name Alejandro Franco Vice President of Finance and Controller Cairn Real Estate Holdings Allyson Jackson Executive Vice President Finance and Treasury Planet Home Lending Amit Arora Chief Investment Officer Opendoor Andrey Gunin Chief Financial Officer A&D Mortgage Bill Warden Chief Financial Officer Dark Matter Brandon (..)

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Finance Lending Principal MLS 372

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 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 447

Loans Renovation Principal Finance 447

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 443

Loans Mortgages Industrial Principal 443

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 443

Loans FHA loan Principal Finance 443

Housing Wire

JANUARY 21, 2025

This could negate any profit potential from increased loan volume. To combat this, lenders should retain their servicing rights to collect the maximum amount of revenue throughout the loan’s life. Effective loan servicing positions servicers as reliable advisors for the homeowner.

Mortgages 367

Mortgages Investor Loans Principal 367

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

JANUARY 31, 2025

And the company’s servicing portfolio, measured by unpaid principal balance (UPB), rose 10% during the year to $665.8 For 2024 as a whole, the California -based lender earned a profit of $311.4 million, up from $144.7 million in 2023. Its net revenue grew from $1.4 billion to $1.6 Pretax income for the final quarter of 2024 was $129.4

Principal 349

Principal Lending Equity Mortgages 349

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.

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Loan Officer Loans Mortgages Industrial 435

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. Ensuring that creativity doesn’t compromise compliance takes serious research and constant QC system updating.

Loans 395

Loans Lending Technology Principal 395

Housing Wire

NOVEMBER 6, 2024

billion in unpaid principal balance (UPB), but it recorded a net loss of $74.6 Our servicing portfolio continues to be a valuable source for ongoing cash flow, future opportunities for loan recapture, and it reinforces our customers-for-life strategy,” Kramer said. The company’s servicing portfolio grew to $91.4

Principal 354

Principal Mortgages Loans As-is 354

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 1, 2025

It offers adjustable- and fixed-rate options with a maximum loan amount of $4 million. This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities.

Mortgages 258

Mortgages Principal Equity Loans 258

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 456

Principal Mortgages Loans Equity 456

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 445

Investor Principal Mortgages Residential 445

Housing Wire

NOVEMBER 14, 2024

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. With several top 10 reverse mortgage lenders now active in some form within the U.S. In the case of FOA — the current industry leader — the earnings results were robust.

Investor 368

Investor Mortgages Bankruptcy Equity 368

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 458

Principal Loans Mortgages Finance 458

Housing Wire

JANUARY 4, 2024

If passed, House Bill 809 and its companion Senate Bill 1070 would bar insurance carriers from placing a coverage limit on a home that would include the value of the land the house sits on, and it would require insurance companies to offer policies that cover only the unpaid principal on a mortgage.

Principal 526

Principal Mortgages Land Loans 526

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

MARCH 7, 2025

The report also states that the idea is being championed by Irving Dennis, HUDs new chief financial officer and principal deputy. Dennis, the agencys new principal deputy chief financial officer, is a former partner at the global consulting giant EY , also commonly known by its original name, Ernst & Young , the report said.

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Technology Principal Industrial As-is 266

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 427

Principal Mortgages Loans Equity 427

Housing Wire

APRIL 3, 2025

At the core of the dispute was collateral stemming from HECM-backed Securities ( HMBS ) tails the issuance of additional securities backed by the remaining unpaid principal balance of a HECM loan after it has been securitized into an HMBS pool. Tails are not from new loans, but they do represent new amounts lent.

Banks 244

Banks Principal Mortgages Lending 244

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

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 458

Mortgages Principal Equity Loans 458

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 458

Principal Loans Mortgages Renovation 458

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 (..)

Lending 283

Lending Technology Title Development 283

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 446

Mortgages Principal Equity Loans 446

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 429

Principal Loans Loan Officer Mortgages 429

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

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

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 447

Mortgages Principal Loans Industrial 447