Housing Wire

MAY 1, 2023

The fact is that the FHFA is applying a form of risk-based pricing to the exercise based on their expectations of long-term performance of mortgages going forward. 80% LTVs (no mortgage insurance required) and 80.01-85% 85% LTVs (with mortgage insurance) by credit score. Therein lies some of the confusion.

Mortgage 409

Mortgage Insurance Development Business 409

Housing Wire

AUGUST 4, 2022

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. million premium.

Mortgage 368

Mortgage Human Resources Investing Business 368

Housing Wire

SEPTEMBER 24, 2023

Mortgage rates shot up last week after a hawkish Federal Reserve meeting, even though they didn’t raise rates. Mortgage rates did find some relief on Friday as bond yields headed lower. The 10-year yield fell on Friday, bringing some relief, but we got very close to yearly highs for mortgage rates. The yearly high is 7.49%.

Mortgage 467

Mortgage Inventory New Listings Housing Market 467

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Banks also reported stronger demand for residential real estate loans over the second quarter, with significant demand for QM and non-QM jumbo mortgages.

Mortgage 473

Mortgage Lending Government Loan Officers 473

Housing Wire

OCTOBER 10, 2023

CEDAR CREEK, Texas — At HousingWire Annual on Tuesday, HousingWire Lead Analyst Logan Mohtashami demystified “the madness” unfolding in the bonds market in front of an audience of more than 300 real estate and mortgage professionals. for the first time since 2007. He noted the benchmark 10-year Treasury yield edged 4.8%

Mortgage 323

Mortgage Realtors Real Estate Housing Market 323

Housing Wire

SEPTEMBER 13, 2022

California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire. . And I believe we went through a reset, the same way we did back in 2006 and 2007. The post Point Mortgage Corp.

Mortgage 360

Mortgage Loan Officers Retail Lending 360

Housing Wire

MARCH 20, 2023

Retail lender Guild Mortgage announced Monday that Mary Ann McGarry is retiring from the CEO position in late June, remaining on the California-based lender’s board of directors after retirement. McGarry has also led the lender through several acquisitions of late, including Cherry Creek Mortgage , Inlanta Mortgage and Legacy Mortgage.

Retail 365

Retail Loan Officers Mortgage Investing 365

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.” increase.

Lending 379

Lending Retail Contracts Construction 379

Housing Wire

APRIL 27, 2023

The Consumer Financial Protection Bureau (CFPB) issued guidance this week for debt collectors seeking to foreclose on homes with mortgages past the statute of limitations, also known as “zombie mortgages.” The CFPB is issuing this guidance due to an uptick in reports of debt collectors attempting to act on these mortgages.

Mortgage 354

Mortgage Law Valuation Design 354

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move.

Mortgage 520

Mortgage Inventory New Listings Sellers 520

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Pressure on demand.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

SEPTEMBER 21, 2023

The other difference in this housing cycle is that credit is very normal, meaning everyone has to qualify for a home loan these days, so sales have real potential to get hard with rising mortgage rates. This happened after March 2022 when rates spiked faster than any other time in recent history. What else did we learn from today’s report?

Inventory 517

Inventory Housing Market Mortgage Marketing 517

Housing Wire

OCTOBER 18, 2022

To say that mortgage lenders are facing challenging times would be a considerable understatement. The substantial increases this year present challenges in the mortgage sector, as the note rates produced can become illiquid if not hedged. The last time that the rate reached 3.25% was in 2005 — and we all know how that story unfolded.

Mortgage 368

Mortgage Marketing Lending Finance 368

Housing Wire

OCTOBER 16, 2020

Add lender-servicer Guild Mortgage to the ranks of the nonbank mortgage lenders going public. San Diego-headquartered Guild, led by Mary Ann McGarry , has made six acquisitions since 2007, which has helped increase its production dramatically. million from its originations business but lost $148 million from mortgage servicing.

Mortgage 370

Mortgage Retail Business Investors 370

Housing Wire

JUNE 30, 2021

HW Community, Today we are thrilled to announce that HW Media has acquired Reverse Mortgage Daily (RMD) – the reverse mortgage industry’s premier independent source for news, commentary and analysis. If you are interested in learning more about RMD, please check the Reverse Mortgage Daily website and follow the daily newsletter.

Mortgage 397

Mortgage Real Estate Business Finance 397

Housing Wire

NOVEMBER 3, 2023

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they promote reinvestment activities for entities including mortgage companies. In 1977, banks held 74% of outstanding mortgage debt. By 2007, this share had declined to just 28%.

Law 374

Law Lending Investing Mortgage 374

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 491

Mortgage Government Retail Lending 491

Housing Wire

NOVEMBER 17, 2022

This debate comes at a time when mortgage rates have doubled since the beginning of the year, from around 3.5% to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. 1 way most regular Americans build wealth.

Mortgage 287

Mortgage Finance Design Insurance 287

Housing Wire

JULY 17, 2023

Mozilo was a pioneer of the mortgage industry, though a deeply controversial figure. “Independent of how people outside of the industry may perceive this man, insiders know what an incredible force he was,” his son Eric Mozilo wrote in a LinkedIn post. Mozilo was president of the Mortgage Bankers Association (MBA) in 1991-1992.

Lending 368

Lending Mortgage Business Government 368

Housing Wire

AUGUST 23, 2021

As the economic recovery from COVID-19 continues, conflicting trends in mortgage credit availability have emerged. The Federal Reserve Bank of New York reports that the number of mortgages reached its highest level to date in 2020, with $1.2 trillion in new home loans in the fourth quarter of 2020 alone. this June. .

Mortgage 421

Mortgage Tools Design Lending 421

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. If buyers feel they are paying top dollar due to increasing mortgage rates, they want their new home to be in move-in-ready condition.

Inventory 363

Inventory Lending Real Estate Housing Market 363

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. million, and in 2007, it peaked at 4 million. from the previous year ($375,300). All four U.S. million in March.

Inventory 490

Inventory Housing Market New Listings Buyers 490

Housing Wire

APRIL 30, 2023

The other focus should be where mortgage rates go; only a little happened last week. Mortgage rates, once again, didn’t move too much this last week; the bottom level range was 6.50%, while the top was 6.67%; we ended the week at 6.59%. In 2007, when sales were down big, total active listings peaked at over 4 million.

Inventory 520

Inventory Housing Market Marketing New Listings 520

Housing Wire

FEBRUARY 8, 2024

housing credit looks very different than in 2005, 2006, 2007 or 2008. Bankruptcies and foreclosures After 2010, the qualified mortgage laws came into play and all the exotic loan debt structures in the system, especially in the run-up in demand from 2002 to 2005, disappeared. The truth is, U.S.

Legal 448

Legal Mortgage Law Marketing 448

Housing Wire

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). The problem: They did not qualify for the loans.

Mortgage 396

Mortgage Marketing Finance Insurance 396

Housing Wire

MARCH 7, 2022

Illinois-based title insurance underwriter Attorneys’ Title Guaranty Fund (ATG) has entered into an agreement to merge with mortgage lender Guaranteed Rate. Attorney members who joined ATG between 1964 and 2007 and their successors have been asked to vote on the merger. For a variety of reasons, we stopped selling shares in 2007.

Insurance 358

Insurance Retail Real Estate Clients 358

Housing Wire

MARCH 7, 2022

Illinois-based title insurance underwriter Attorneys’ Title Guaranty Fund (ATG) has entered into an agreement to merge with mortgage lender Guaranteed Rate. Attorney members who joined ATG between 1964 and 2007 and their successors have been asked to vote on the merger. For a variety of reasons, we stopped selling shares in 2007.

Insurance 356

Insurance Retail Real Estate Clients 356

Housing Wire

MAY 7, 2023

We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell. Mortgage rates fell last week as we started the week at 6.73%, got as low as 6.43% to end the week at 6.5%. In 2007, when sales were down big, total active listings peaked at over 4 million.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S. Covid challenges.

Lending 444

Lending Mortgage Sellers Technology 444

Housing Wire

AUGUST 14, 2023

billion in penalties to settle a civil action alleging misconduct related to the underwriting, issuance and sale of residential mortgage-backed securities (RMBS) before the 2008 financial crisis. In the mortgage space, UBS has plans to wind down a business in its U.S. mortgage unit that focuses on “to-be-announced” (TBA) trading.

Investors 349

Investors Law Design Mortgage 349

Appraisal Buzz

JUNE 21, 2022

Inflating mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Mortgage rates shot up in early June, averaging … The post Housing Affordability Hits 15-Year Low appeared first on DSNews.

Inventory 195

Inventory Mortgage Appraisal Marketing 195

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

Appraisal 420

Appraisal Law Valuation Home Value 420

Housing Wire

JUNE 8, 2021

It was barely a year ago that Angel Oak Mortgage and the rest of the non-QM lenders were holding on for dear life. a share, Angel Oak Mortgage would be valued at $537 million. Once it debuts on the Nasdaq Stock Exchange , Angel Oak Mortgage would be classified as a real estate investment trust (REIT). .” trillion. .

Mortgage 238

Mortgage Investing Finance Retail 238

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%. This is one reason housing inventory has taken so long to bottom out.

Inventory 537

Inventory Housing Market Marketing New Listings 537

Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

Mortgage 408

Mortgage Inventory Housing Market Construction 408