Housing Wire

SEPTEMBER 6, 2023

Despite a slight drop in mortgage rates last week, mortgage applications fell to their lowest level since December 1996. 1, mortgage applications dropped 2.9% from the prior week , according to data from the Mortgage Bankers Association. Meanwhile, the adjustable-rate mortgage (ARM) share of activity decreased to 6.7%

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Mortgage Contracts Inventory Buyers 414

Housing Wire

SEPTEMBER 20, 2023

In the week leading up to the Federal Open Market Committee meeting, mortgage applications finally ticked up. 15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. The refinance share of mortgage activity increased to 31.6% For the week that ended Sept.

Mortgage 413

Mortgage Inventory Contracts Buyers 413

Housing Wire

MAY 15, 2024

Its plan takes aim at liquidity, budget authority, pay scales and other potential flexibilities to more closely align with the value it brings to the government and the broader mortgage market. Finally, flexibilities afforded to other federal agencies should be extended to Ginnie Mae to enable quicker hiring and contract procurement.

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Modernization Government Contracts Insurance 327

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. Presented by: FundingShield.

Mortgage 358

Mortgage Finance Retail Business 358

Housing Wire

AUGUST 8, 2023

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. Both lenders entered into a contract with Lender Toolkit in 2021.

Mortgage 284

Mortgage Contracts Legal Business 284

Housing Wire

SEPTEMBER 13, 2023

The last time mortgage demand was this low, Toni Braxton’s “Un-break my heart” topped the Billboard charts. 8, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. The refinance share of mortgage activity decreased to 29.1% from 13.7%

Mortgage 380

Mortgage Contracts Finance 380

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. 7, down from last week ’s 7.18%.

Housing Market 422

Housing Market Mortgage Marketing Contracts 422

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 433

Mortgage Loan Officers Finance Buyers 433

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. After the merger, Finance of America is slated to receive a $250 million investment from institutional investors. billion valuation.

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Finance Lending Retail Business 220

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 359

Mortgage Marketing Retail Construction 359

Housing Wire

AUGUST 16, 2023

Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. from 13.6% the week prior.

Mortgage 356

Mortgage Contracts Government Investors 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

AUGUST 9, 2023

Mortgage applications fell for the third consecutive week as the 30-year fixed mortgage rate rose to its highest level since November 2022 at 7.09%. For the week that ended August 4, mortgage applications fell 3.1% from the prior week , according to data from the Mortgage Bankers Association. The downgrading of the U.S.

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Mortgage Contracts Government Inventory 338

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.

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Housing Market Marketing Contracts Finance 396

Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. The financing arrangement was also dated June 3, 2020. It originated a mortgage volume of $21.7 trillion in 2023.

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Lending Contracts Finance Mortgage 370

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.”

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Government Contracts Finance Lending 334

Housing Wire

MAY 17, 2024

The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. Meanwhile, the Consumer Financial Protection Bureau (CFPB) is targeting “ junk fees” in mortgage origination and borrower-paid lender title policies.

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Lending Real Estate Agent Contracts Government 348

Housing Wire

SEPTEMBER 22, 2022

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. In exchange, the homeowner inks a contract providing the company with a slice of the homeowner’s future equity. 21, according to Mortgage News Daily.

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Marketing Contracts Finance Home Value 373

Housing Wire

AUGUST 23, 2023

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week , according to data from the Mortgage Bankers Association. bond yields spike last week.

Mortgage 338

Mortgage Contracts Government Buyers 338

Housing Wire

JANUARY 26, 2022

Mortgage applications fell 7.1% from the previous week, following an increase in rates to the highest level since the pandemic onset, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. For jumbo mortgage loans (greater than $647,200), rates went to 3.56% from 3.54% the week prior.

Mortgage 365

Mortgage Government Contracts Lending 365

Raleigh Realty

FEBRUARY 24, 2022

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147

Contracts Real Estate Sellers Real Estate Agent 147

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. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgage 354

Mortgage Marketing Investors Lending 354

Housing Wire

APRIL 18, 2024

McDermott joined G-Rate when the lender acquired Superior Mortgage in 2012, and resigned in November 2022. She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. “We know Megan very well and treasured her 10 years with the company.

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Loan Officers Human Resources Contracts Mortgage 413

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.”

Lending 349

Lending Retail Contracts Construction 349

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. It’s an open platform. We’re not huge, but we’re not small either.”.

Mortgage 440

Mortgage Technology Investing Investors 440

The Robert Weiler Company

JANUARY 2, 2021

Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. So, what is a land contract agreement, and how does it work?

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Contracts Tenants Legal Sellers 143

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

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Loan Officers Mortgage Buyers Inventory 398

Movoto

APRIL 8, 2024

This is a legally binding agreement between the buyer and seller that helps ensure the sale will be completed according to the contract’s outlined conditions. Real estate purchase contracts come into play to protect both parties and move the sale forward, helping prevent either party from wasting the other’s time and money.

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Contracts Real Estate Property Taxes Legal 36

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 370

Lending Business Retail Client Relationships 370

Housing Wire

SEPTEMBER 21, 2023

The PowerVP app will create new loans; invite customers to complete a digital mortgage; send a one-click conditional approval letter; lock in rates ; obtain real-time pricing and run a credit report, the company said in a release. billion in the first six months of 2023, according to data from Inside Mortgage Finance.

Open Houses 396

Open Houses Contracts Finance Tools 396

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. that use trended credit bureau data.

Legal 368

Legal Mortgage Contracts Insurance 368

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. Finance data. How could they resist?

Mortgage 375

Mortgage Retail Finance Investors 375

Housing Wire

NOVEMBER 15, 2023

mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. In 2018, it acquired Franklin American Mortgage. billion, down 42.6%

Retail 419

Retail Mortgage Brokerage Contracts 419

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. In-contract deals rose 0.7%

Contracts 295

Contracts Realtors Home Value Housing Market 295

Housing Wire

AUGUST 28, 2023

Department of Treasury CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities. The CDFI certification is a designation given by the U.S.

Lending 369

Lending Design Finance Contracts 369

Housing Wire

SEPTEMBER 26, 2023

Mortgage servicer Nationstar , doing business as Mr. Cooper , has filed a lawsuit against electronic payment processing vendor ACI Payments related to the damages it allegedly suffered from unauthorized mortgage payments imposed on its customers two years ago. ”

Mortgage 343

Mortgage Legal Fees Legal Contracts 343

Housing Wire

MAY 18, 2024

The moves haven’t been significant and our weekly pending contracts data picked up this week. However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen. When mortgage rates increase, demand falls and the price-cut percentage grows.

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New Listings Inventory Mortgage Contracts 346