Housing Wire

JUNE 9, 2022

Fannie Mae has unveiled its third reperforming loan sale of the year, an offering of nearly 10,000 loans valued at $1.57 A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. Bids for the FNA 2022-RPL3 reperforming loan offering are due by July 7.

Loans 397

Loans Purchase and sale agreement Investor Finance 397

Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million; and pool 3, $312.9

Loans 397

Loans Purchase and sale agreement Principal Due diligence 397

Housing Wire

SEPTEMBER 11, 2023

Proptech firm Flyhomes has entered into an agreement to purchase Innovative Holdings, LLC’s “buy before you sell” platform Home Sale Assured. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships. The terms of the deal were not disclosed.

Debt-to-income ratio 434

Debt-to-income ratio Purchase and sale agreement Sales Loans 434

Housing Wire

NOVEMBER 4, 2024

As a real estate reporter, it was not lost on me that the formal start of my house hunt would coincide almost perfectly with the real estate industry working through the nationwide implementation of the business practice changes outlined in the National Association of Realtors ‘ (NAR) commission lawsuit settlement agreement.

Purchase and sale agreement 435

Purchase and sale agreement Inspection contingency Inspection Title 435

Housing Wire

MARCH 15, 2024

David Peskin, formerly from Senior Lending Network and Reverse Mortgage Funding (RMF), has purchased an ownership stake in top 10 reverse mortgage lender HighTechLending (HTL) and will lead the company’s new pursuits alongside co-owner and COO Erika Macias. Peskin spoke to RMD about the move. HTL offers a whole suite of products.

Purchase and sale agreement 447

Purchase and sale agreement Equity Loan Officer Mortgages 447

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 418

Loans Purchase and sale agreement Due diligence Industrial 418

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations.

Loans 370

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 370

Housing Wire

AUGUST 10, 2022

That’s a healthy showing, considering over the same period UWM’s loan-origination volume dipped from $59.2 Rising interest rates have crimped loan production for virtually all mortgage lenders as more and more borrowers are forced to forestall home purchases or have no incentive to refinance. billion to $29.9

Sales 418

Sales Purchase and sale agreement Loans Mortgages 418

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. NEXA has always been focused on purchase loans , which means some of its LOs do significant business with buyers’ agents.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

APRIL 9, 2021

In Lender Letters issued on Thursday, Fannie Mae and Freddie Mac confirmed that loans purchased by the GSEs with application dates on and after July 1, 2021, must meet the standards of the Consumer Financial Protection Bureau’s Revised Qualified Mortgage Rule.

Loans 353

Loans Purchase and sale agreement Staging Mortgages 353

Housing Wire

JULY 9, 2024

Residential sale-leaseback platform EasyKnock continues to face scrutiny from state regulators and is now under fire from disgruntled consumers. EasyKnock agreed to permanently end its sale-leaseback solution in Massachusetts, and to pay $200,000 to the state as part of the terms of its settlement.

Purchase and sale agreement 448

Purchase and sale agreement Equity Lending Investor 448

Housing Wire

MAY 12, 2022

billion in proceeds from those MSR sales — with UWM accounting for $871.8 In a rising-rate environment, loan prepayments ebb, as refinancing becomes less attractive. That rising value, in turn, can make sales of MSRs a lucrative option for supplementing otherwise dour revenue streams. In total, between Jan. billion and $319.8

Sales 397

Sales Purchase and sale agreement Principal Loans 397

Housing Wire

OCTOBER 6, 2021

The loss was primarily driven by a “decrease in overall funding activities in the mortgage market” that resulted in a “significant” decline quarter-over-quarter of the company’s gain on sale margin. The filing revealed that refi loans made up 85% of funded loan volume for Better.com in last six months, while purchase volume was close to 15%.

Purchase and sale agreement 435

Purchase and sale agreement Loans Equity Investor 435

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Equity 488

Equity Purchase and sale agreement Loan Officer Lending 488

Housing Wire

OCTOBER 25, 2024

With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S. Under the temporary fix, homebuyers using VA loans are able to pay for their agent’s commission.

VA loan 448

VA loan Purchase and sale agreement Loans Agents 448

Housing Wire

MAY 21, 2024

This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans. The current stress in the CRE and C&I loan markets further highlights the advantages of residential mortgages.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

APRIL 27, 2022

“Gain on sale revenue was under significant pressure throughout the quarter as the velocity of the increase in mortgage rates rose at the fastest rate this century,” Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, said in a statement. Meanwhile, refinances fell significantly, from $9.8 billion in Q1 2022.

Purchase and sale agreement 418

Purchase and sale agreement Mortgages Banks Branding 418

Housing Wire

OCTOBER 1, 2024

RESPA Section 8 and CFPB Regulation X maintain firm prohibitions against kickbacks and unearned fees, with particular statutory exemptions, about all settlement services involving federally related mortgage loans. ” 12 U.S.C. 2607(c)(3) safe harbor applicability for any of their referrals.

Purchase and sale agreement 435

Purchase and sale agreement Agents Brokerage Loans 435

Housing Wire

JUNE 28, 2024

At AmeriCash, he oversaw more than 300 employees and helped the company close more than $18 billion in home loans. Giangrande will also lead negotiation efforts for wholesale brokerage agreements with mortgage companies that seek to partner on EquiFi’s home equity investment (HEI) contract and other products.

Equity 394

Equity Purchase and sale agreement Mortgages Finance 394

Housing Wire

NOVEMBER 1, 2021

If you make your living by originating new mortgage loans, I don’t have to tell you that the business is changing. You probably already know that the MBA’s latest mortgage forecast puts the purchase money at 75% of all loan volume. Real estate agents, like mortgage loan officers, work from wherever they are today.

Lending 448

Lending Purchase and sale agreement Agents Loan Officer 448

Housing Wire

AUGUST 26, 2024

Mike Roberts is about to make his first early payoff (EPO) penalty in two years after finding out that one of his clients refinanced a $355,000 loan with a 7.25% rate that Roberts closed in April. EPOs are intended to guarantee a minimum return for the investor or mortgage aggregator if a loan is paid off in the first few months.

Purchase and sale agreement 468

Purchase and sale agreement Investor Loans VA loan 468

Housing Wire

MARCH 27, 2023

The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We of the production was conventional loans and 49% consisted of purchase loans.

Banks 83

Banks Purchase and sale agreement Loans Loan Officer 83

Housing Wire

MAY 26, 2021

will acquire 178,000 loans sold to or securitized by Fannie Mae and Freddie Mac , boosting its overall total servicing portfolio by about 16%. Ocwen’s acquisition of the MSR portfolio is expected to close later in the second quarter, with the underlying loans transferring in September. Ocwen’s subsidiary PHH Mortgage Corp.

Purchase and sale agreement 418

Purchase and sale agreement Banks Lending Loans 418

Housing Wire

MARCH 31, 2021

Presented by: Proctor Loan Protector. The flexible standards allowed for more appraisal options on certain qualifying primary residence loans, including desktop appraisals and exterior-only appraisals. How this will affect the reporting of delinquent loans, is yet to be delineated.

Purchase and sale agreement 435

Purchase and sale agreement Loans Land Lending 435

Housing Wire

JULY 28, 2023

JPMorgan Chase will buy nearly $2 billion worth of mortgages to grease Banc of California ‘s purchase of PacWest Bancorp , Bloomberg reported. The bank entered into an agreement to buy $1.8 billion of single-family residential loans at a discount, according to the outlet. billion in loans or sell them to investors.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. Lend Smart, a company with 107 active loan originators, is licensed in 29 states and originated $378.8 billion.

Lending 418

Lending Purchase and sale agreement Loan Officer Loans 418

Housing Wire

APRIL 1, 2024

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period. The annual investment volume in the U.S. billion have been completed.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

AUGUST 6, 2024

We are presently negotiating the terms of a settlement agreement, and plaintiffs will likely submit it for court approval later in the third quarter. Its pull-through gain-on-sale margin was 3.22% in Q2 2024, compared to 2.74% in Q1 2024 and 2.85% in Q2 2023. Purchase loans comprised 72% of loanDepot’s total volume in Q2 2024.

Purchase and sale agreement 448

Purchase and sale agreement Principal Loan Officer Mortgages 448

Housing Wire

MAY 13, 2024

Residential sale-leaseback platform EasyKnock has acquired the assets of home equity investment firm HomePace , the company exclusively told HousingWire on Monday. HomePace, founded in 2020, specializes in helping homeowners access their equity through home equity agreements. Meanwhile, more than 9 million U.S.

Equity 460

Equity Purchase and sale agreement Residential Investor 460

Housing Wire

APRIL 25, 2022

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . It has about 350 loan officers and roughly 100 retail branches. . It provides purchases, refinances, and home equity products.

Purchase and sale agreement 397

Purchase and sale agreement Loan Officer Loans Mortgages 397

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Equity 448

Equity Purchase and sale agreement Marketing Lending 448

Housing Wire

DECEMBER 1, 2021

Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused. Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips.

Purchase and sale agreement 418

Purchase and sale agreement Loan Officer Finance Loans 418

Housing Wire

JULY 17, 2024

Amongst the most substantial terms of that agreement is a blanket ban on the requirement that agents subscribe to MLSs to offer or accept compensation for their work. There has been quite a bit of discussion already about how this will impact the traditional residential purchase. Dramatic change is what it means.

Purchase and sale agreement 493

Purchase and sale agreement Real-estate owned Agents Brokerage 493

Housing Wire

JULY 6, 2022

PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. billion in MSR sales and purchases, according to KBRA. Subsidiaries of Pennymac Financial Services Inc.

Purchase and sale agreement 397

Purchase and sale agreement Mortgages Finance Loans 397

Housing Wire

MARCH 24, 2021

Technology has given consumers the power of choice and expedited the entire real estate purchasing process. Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors.

Purchase and sale agreement 397

Purchase and sale agreement Loans Loan Officer Mortgages 397

Housing Wire

APRIL 27, 2021

The bureau just issued its final rulings on QM in December , establishing a pricing threshold that effectively replaced the debt-to-income limit of 43% with a price-based approach that gives lenders relief for loans capped at 150 basis points above the prime rate. Understanding Today’s Connected Borrower.

Purchase and sale agreement 370

Purchase and sale agreement Loans Finance Lending 370