Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Therefore, we will follow the agreed upon contract and win damages.”

Contracts 413

Contracts Loan Officers Lending Retail 413

Housing Wire

JANUARY 27, 2023

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 359

Lending Real Estate Agent Loan Officers Retail 359

Housing Wire

NOVEMBER 16, 2023

Nonbank originator Change Lending and the U.S. A Barron’s investigation found that Change failed to meet its underserved lending requirements in 2022, resulting in the lender being removed from the CDFI Fund’s list of certified program lenders in August.

Lending 323

Lending Finance Contracts Development 323

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). billion for the year from $44 billion in 2022.

Mortgage 362

Mortgage Lending Retail Business 362

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 365

Lending Government Legal Law 365

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.

Real Estate Agent 371

Real Estate Agent Real Estate Agents Lending 371

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgage 340

Mortgage Marketing Retail Construction 340

Housing Wire

NOVEMBER 23, 2022

With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2% retail residential mortgage applications.

Mortgage 392

Mortgage Contracts Retail Lending 392

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 20, 2022, to Feb. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270.

Mortgage 349

Mortgage Legal Lending Investors 349

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgage 326

Mortgage Marketing Investors Lending 326

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. 20, 2022, to Feb. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270.

Mortgage 346

Mortgage Legal Lending Investors 346

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. trillion in 2022, down significantly from last year’s $4 trillion.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Housing Market 352

Housing Market Marketing Contracts Lending 352

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 346

Mortgage Real Estate Inventory Construction 346

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.

Housing Market 374

Housing Market Marketing Contracts Finance 374

Housing Wire

APRIL 19, 2023

Owners of a North Carolina property have filed an amended lawsuit against Rocket Mortgage that claims the lender rejected a refinance application in order to impose a higher rate. The incident in question dates back to March 2022 when mortgage rates were still relatively low. in March and April of 2022,” the suit said.

Contracts 379

Contracts Lending Mortgage Legal 379

Housing Wire

APRIL 24, 2024

During an earnings call on Wednesday, chief financial officer Daniel Perotti said that “Pennymac maintained its dominant position in correspondent lending in the first quarter” as it acquired $18 billion in volume. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 million profit it posted in 2022.

Lending 369

Lending Legal Contracts Mortgage 369

Housing Wire

MARCH 11, 2022

Lenders One Cooperative and Walmart want mortgages in your shopping cart. On Monday, the cooperative announced that it has struck a deal to lease space in Walmart stores to sell purchase mortgages, refinances, and home equity loans. Lenders One did not disclose the financial terms of the contract.

Mortgage 344

Mortgage Retail Lending Law 344

Housing Wire

MARCH 29, 2023

Homeowners collectively nationwide now have more than $10 trillion in tappable equity (equity beyond a 20% cushion) tied up in their properties, according to the Black Knight Mortgage Monitor. Eight of those securitization deals have gone to market since 2022, including three so far in 2023.

Contracts 332

Contracts Lending Investing Investors 332

Housing Wire

JANUARY 10, 2024

Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former employees accused of poaching when they transitioned to rival CrossCountry Mortgage. ” “The mortgage lending industry is highly competitive.

Legal 378

Legal Lending Contracts Mortgage 378

Housing Wire

APRIL 21, 2022

Nominations for HousingWire’s Women of Influence award are now open through Friday, April 29, 2022. As interest rates continue to climb and mortgage applications decline , many in the industry are dreading what’s to come for lenders. HW: The future of the digital mortgage and mortgage tech have been a topic of interest in recent years.

Mortgage 365

Mortgage Contracts Technology Lending 365

Housing Wire

SEPTEMBER 22, 2022

The PLS transaction, called UNLOK 2022-1, involves $144 million of unrated senior Class A notes, $18 million of mezzanine Class B securities and $18 million of mezzanine Class C securities. Unlock’s HEA contracts typically feature 10-year maturities and involve a 3% origination fee based on Unlock’s original investment, which is not a loan.

Marketing 356

Marketing Contracts Finance Home Value 356

Housing Wire

SEPTEMBER 8, 2022

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire. The lender has a contract with Moder , the business outsourcing arm of Archwell Holdings , sources said.

Mortgage 498

Mortgage Loan Officers Clients Investing 498

Housing Wire

JULY 12, 2022

California-based Pennymac launched a product that can freeze mortgage rates as many as 90 days, in a bid to attract more borrowers to the market amid volatile rates. Pennymac is the latest mortgage lender to freeze rates for borrowers. The product does not require a property address to guarantee a mortgage rate.

Mortgage 360

Mortgage Contracts Valuation Marketing 360

Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.

Legal 268

Legal Contracts Lending Loan Officers 268

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right. .

Mortgage 351

Mortgage Clients Retail Marketing 351

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 362

Mortgage Loan Officers Government Buyers 362

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries.

Loan Officers 364

Loan Officers Legal Real Estate Lending 364

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). billion in the fourth quarter of 2022 from the previous quarter’s $72.3

Lending 270

Lending Renovations Real Estate Finance 270

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. But Ginnie Mae has never sought to contract with TCB itself regarding TCB’s transactions with RMF.” Ginnie Mae accordingly implored TCB to lend money to RMF.

Government 309

Government Contracts Finance Lending 309

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 361

Marketing Mortgage Investors Sellers 361

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? for purchase mortgage origination, and he is taking the stage at HW Annual. Weaver currently serves as an originator at CrossCountry Mortgage. MW: In 2022, my team and I created a mantra. Mindset is everything.

Real Estate Agent 248

Real Estate Agent Mortgage Real Estate Training 248

Housing Wire

APRIL 24, 2024

Mr. Cooper and Sagent signed a multiyear agreement in February 2022. Per the terms of the contract, Sagent was tasked with integrating Mr. Cooper’s consumer-first platform into a cloud-native core, then licensing the resulting cloud-based platform to banks and independent mortgage companies.

Technology 286

Technology Lending Investing Contracts 286

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. and FICO 10T credit score models as well as the bi-merge credit reporting policy,” the letter added.

Legal 340

Legal Mortgage Contracts Insurance 340

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks. contraction. Fannie Mae raised its first quarter GDP forecast to grow 0.9%

Construction 334

Construction Lending Finance Mortgage 334

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. Meanwhile, with competitive pricing, United Wholesale Mortgage (UWM) reached an estimated 54% market share at the end of 2022. “Wholesale is growing.

Retail 362

Retail Loan Officers Landlords Lending 362

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. How could they resist? Finance data.

Mortgage 361

Mortgage Retail Finance Investors 361