Housing Wire

DECEMBER 14, 2023

The figures are shown for a borrower with an average purchase price of $318,000 in 2020 and assumes that the borrowing household will keep the loan for seven years. Homeowner’s insurance, the servicer, and even the GSE (the actual holder of the default risk on the mortgage), represent small overall costs by comparison.

Insurance 388

Insurance Property Taxes Buyers Investors 388

Housing Wire

APRIL 19, 2022

Publicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry. The company, whose white-label technology powers mortgage applications on the websites of major lenders such as Wells Fargo and U.S. Bank , expects to incur about $6.7 million in annualized savings.

Mortgage 359

Mortgage Investors Clients Insurance 359

Housing Wire

APRIL 13, 2023

San Francisco-based fintech Polly has hired Parvesh Sahi, a former executive from ICE Mortgage Technology , as chief revenue officer to scale the business in a highly competitive mortgage environment. Ellie Mae was acquired by Intercontinental Exchange (ICE) in September 2020.

Technology 242

Technology Mortgage Insurance Clients 242

Housing Wire

APRIL 7, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. In 2008, as the financial crisis was unfolding, he landed a job at secretive big data startup Palantir , where he learned that the $10 trillion mortgage industry was still in the Stone Age technologically. Blend Labs CEO Nima Ghamsari is a betting man. He was right.

Mortgage 359

Mortgage Technology Clients Insurance 359

Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. billion in loan volume between June 2020 and June 2021. and former U.S.

Mortgage 282

Mortgage Investors Investing Technology 282

Housing Wire

AUGUST 24, 2023

and created a refi boom for mortgage lenders like Better. At that time, the company was valued by its investors at $7.7 But Better’s debut came at a low point in the mortgage market, with mortgage rates at their highest levels in more than two decades and historically low levels of home sales.

Insurance 363

Insurance Mortgage Realtors Business 363

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 401

Business Mortgage Loan Officers Inventory 401

Housing Wire

JUNE 2, 2021

Real estate tech startup Spruce announced on Wednesday a Series C funding round of $60 million led by Zigg Capital and backed solely by repeat investors, including Bessemer Venture Partners and Scale Venture Partners. It claims it reduced the time-to-close on mortgages – the industry standard of which is about 51 days – by 25%.

Real Estate 388

Real Estate Investors Insurance Clients 388

Housing Wire

AUGUST 3, 2021

Fannie Mae continues to reap the rewards of low mortgage rates as it posted a net income of $7.2 In March 2020, both Fannie Mae and Freddie Mac hit pause on credit risk transfers, which shift a portion of the risk of credit losses on the mortgages they insure onto investors. billion, of Fannie Mae’s $373.3

Mortgage 404

Mortgage Insurance Government Investors 404

Housing Wire

FEBRUARY 6, 2023

trillion mortgage servicing sector shouldn’t be “disrupted” by financial technology, it should be reimagined with fintech. Most new-to-mortgage fintech folks who overuse the word “disruptor” will start by asking, “What are your requirements?” In mortgage servicing, it’s not about “disruption” for the sake of sounding innovative.

Mortgage 289

Mortgage Investors Technology Modernization 289

Housing Wire

MAY 11, 2021

Better.com, which offers mortgage, real estate, title and homeowner insurance through its digital platform, has entered an agreement to merge with Aurora Acquisitions Corp., billion in mortgage originations in 2020. billion in mortgage originations in 2020. billion in title insurance and $1.4

Valuation 347

Valuation Insurance Investors Loan Officers 347

Housing Wire

SEPTEMBER 21, 2021

The company said it expects to transfer mortgage credit risk via its Connecticut Avenue Securities and Credit Insurance Risk Transfer programs. Since March 2020, Fannie Mae has been on a hiatus from credit risk transfers. Its counterpart, Freddie Mac , resumed CRT issuance in July 2020. The GSEs keep the riskiest tranche.

Investors 411

Investors Insurance Finance Business 411

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Driven by a desire to achieve greater scale and gain access to cheaper capital, nonbank mortgage lenders dove headfirst into the public markets during the Covid-19 boom. Investors were nonplussed. Finance data.

Mortgage 361

Mortgage Retail Finance Investors 361

Housing Wire

MAY 17, 2021

Despite heightened investor uncertainty during the onset of the pandemic, GSE-backed mortgages have outperformed expectations, the report notes. Although markets experienced a significant liquidity disruption in March 2020, questions remain about the strength of CRTs under stress.

Investors 302

Investors Insurance Mortgage Finance 302

Housing Wire

JANUARY 13, 2021

have taken advantage of its mortgage relief provisions. In fact, as of November 2020, a total of 6.5 Many of these challenges persist today, while new ones – like post-forbearance credit reporting, investor and year-end reporting for deferred balances – continue to arise. Investor reporting. But here’s the dilemma.

Mortgage 407

Mortgage Investors Technology Housing Market 407

Housing Wire

JUNE 7, 2022

million note offering backed by a reference pool of single-family mortgages valued at $25 billion. The latest transaction, CAS 2022-R06, involves a reference pool of 83,420 single-family mortgage loans. . Fannie Mae is unveiling its sixth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $754.4

Insurance 350

Insurance Investors Mortgage Tools 350

Housing Wire

NOVEMBER 2, 2020

In their earnings Q3 2020 10-Q release , Fannie Mae states the following, “We are implementing a new adverse market refinance fee in light of the increased costs and risk we expect to incur due to the COVID-19 pandemic.”. These draw investors globally. billion in net income, up significantly from the previous quarter.

Mortgage 531

Mortgage Marketing Government Inspection 531

Housing Wire

SEPTEMBER 16, 2021

When it comes to housing and mortgage markets this fall, most attention is being focused on the expiration of eviction and foreclosure moratoria and the pending completion of forbearance terms for many homeowners. In June 2020, roughly 8.5% The delinquency rate should follow that downward path closely. This represents about 1.5

Mortgage 474

Mortgage Inventory Investors Design 474

Housing Wire

FEBRUARY 24, 2022

It also surpasses by 261% Opendoor’s 2020 loss of $253 million. Opendoor resold 21,725 of the homes it bought in 2021, up 119% from 2020. It is now in 44 markets, compared to 23 at the end of 2020. One hypothetical path to profitability is ancillary services, particularly Opendoor mortgage loans and title insurance.

Investors 424

Investors Real Estate Inventory Finance 424

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgage 384

Mortgage Loan Officers Finance Investors 384

Housing Wire

MARCH 21, 2022

Fannie Mae is off to steady start on its path toward issuing $15 billion in notes this year through its Connecticut Avenue Securities (CAS) real estate mortgage investment conduit, or REMIC. billion note offering backed by a reference loan pool of 150,395 primarily single-family mortgages valued at $44.4

Investors 351

Investors Insurance Valuation Mortgage 351

Housing Wire

OCTOBER 6, 2021

with the Securities and Exchange Commission last week gave the mortgage industry a glimpse into how its partner Better.com fared in the second quarter. The digital mortgage lender, which plans to go public via a special purpose acquisition company (SPAC), reported a net loss of $86 million in the second quarter. And it wasn’t great.

Insurance 399

Insurance Investors Real Estate Loan Officers 399

Housing Wire

JULY 28, 2022

Xactus will add flood services to its list of verification solutions with the acquisition of MassiveCert , a software company that provides flood zone determinations for insurance, lending and real estate. Up until now, Xactus obtained data from third parties. Servicers, are you prepared for hurricane season? Presented by: ServiceLink.

Insurance 299

Insurance Clients Modernization Technology 299

Housing Wire

FEBRUARY 14, 2023

Managing a profitable mortgage business can be challenging in the best of markets. Mortgage servicing rights (MSRs) are valuable assets for mortgage lenders when origination business is slow. However, it’s unlikely that we’ll see the low rates of 2020 again. of all mortgage applications.

Modernization 316

Modernization Insurance Investors Tools 316

Housing Wire

JULY 14, 2022

It is counter to a popular and politically potent narrative grounded in the aftermath of the Great Recession, when large institutional investors scooped up thousands of properties at foreclosure auction. It turns out local investors are also more efficient than banks and government agencies at renovating and reselling homes.

Renovations 324

Renovations Investors Buyers Retail 324

Housing Wire

MAY 24, 2023

The Federal Reserve ‘s monetary tightening policy and the recent banking crisis have the potential to change the mortgage-backed securities (MBS) market’s dynamics more than anything seen over the last two decades, according to secondary market experts. They are likely to be replaced by money managers as investors.

Marketing 317

Marketing Insurance Investors Mortgage 317

Housing Wire

JANUARY 13, 2023

In addition, secondary market investors continue to show interest in well-underwritten, higher-rate loans secured by single-family rental properties. It looks to be about 50% investor properties,” Ben Hunsaker said of the planned NRMLT offering. Mortgage production in 2022 nationally was down about 50% from $4.44

Marketing 399

Marketing Investing Investors Landlords 399

Housing Wire

JUNE 21, 2021

The Securities and Exchange Commission announced last week a cybersecurity violation by title insurance giant First American Financial Corp. What should lenders look for when choosing mortgage technology? First American is the second-largest mortgage title and settlement company in the U.S., Presented by: SimpleNexus.

Insurance 397

Insurance Technology Investors Mortgage 397

Housing Wire

APRIL 26, 2023

On March 29, the Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac would enhance their COVID-19 pandemic-era deferral policies which allowed homeowners experiencing hardship to defer up to six months of mortgage payments to be settled at the end of the loan.

Insurance 298

Insurance Mortgage Government Investors 298

Housing Wire

JULY 27, 2021

Michael Franco: The last two years in the mortgage industry have certainly been unique. Volatility and dramatic shifts in market activity have forced participants across the mortgage lifecycle to embrace more agile business practices. Entering 2020 the market was expecting <$2.0 We got the exact opposite.

Mortgage 382

Mortgage Technology Lending Clients 382

Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

Mortgage 330

Mortgage Technology Loan Officers Investing 330

Housing Wire

JULY 6, 2021

Mortgage software platform Blend Labs set terms for its initial public offering Tuesday including its goal to raise up to $360 million for a targeted valuation of nearly $4 billion. Blend, which was named as one of HousingWire’s 2021 Tech 100 winners, has steadily grown to be a powerhouse in the mortgage tech industry. million and $96.0

Technology 369

Technology Mortgage Valuation Insurance 369

Housing Wire

APRIL 14, 2021

RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. The mortgage subservicer’s board of directors appointed Patrick McEnerney as chief executive officer. Prior to his stint at HUD, Gormley was regulatory counsel for the Mortgage Bankers Association.

Retail 261

Retail Investors Mortgage Insurance 261

Housing Wire

MARCH 9, 2022

In 2020, flat-fee absolutist Fathom lost $1.3 On a call with investors Tuesday evening, CEO Josh Harley said the firm is looking to achieve profitability “in the near future.”. “A Harley and Fregenal also cited Fathom’s growing mortgage, technology and title insurance sectors as sources of profitability in the future.

Inventory 313

Inventory Brokerage Realty Real Estate 313

Housing Wire

FEBRUARY 10, 2022

The company’s total revenue for 2021 was up 30% from 2020 to a record of $9.2 Despite this increase, First American’s newly appointed CEO , Ken DeGiorgio, said on an earnings call with investors that everyone at the company is proud of these achievements. billion, with $2.4 billion earned during the fourth quarter.

Insurance 343

Insurance Investing Inventory Business 343

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex. And he hasn’t done so voluntarily. billion in 2022, down 41.3%

Insurance 315

Insurance Mortgage Clients Lending 315

Housing Wire

JUNE 1, 2022

According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. The ALTA Registry is a unique real estate utility created specifically for the mortgage industry and service providers.

Insurance 366

Insurance Real Estate Agents Technology 366