Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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Tools Mortgage Finance Lending 349

Housing Wire

FEBRUARY 22, 2022

Federal finance and housing regulators today issued a statement to assure lenders they are on the same page when it comes to special purpose credit programs. Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing.

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Lending Development Finance Law 299

Housing Wire

MARCH 31, 2023

The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said. “For

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Lending Business Government Design 304

Housing Wire

DECEMBER 7, 2021

So mortgage lending morphed from a trust-based system to what could be called a “trust, but verify” model, to coin a favorite Russian proverb of Reagan’s. The problem with the “trust, but verify” model, which is still used by many lending institutions today, is that it’s time-consuming and expensive.

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Lending Mortgage Landlords Design 354

Housing Wire

APRIL 24, 2024

Figure Technology Solutions , the parent company of Figure Lending LLC , named Michael Tannenbaum as its new CEO, the company announced on Tuesday. I am humbled to join Mike and this extremely talented team that is setting a new standard for the finance industry and look forward to leading Figure into its next phase of growth.”

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Technology Lending Design Finance 329

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. a competing model that also incorporates trended credit bureau data.

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Mortgage Lending Finance Design 374

Housing Wire

DECEMBER 7, 2021

Marcia Fudge, in a missive to her colleagues at the Office of the Comptroller of the Currency , the Consumer Financial Protection Bureau and the Federal Housing Finance Agency. It could be a sustainable lending product for a community where a lender has had poor penetration. A special purpose credit program can take many forms.

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Lending Law Design Government 410

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. fair lending laws has been on regulators’ radar in recent years. Its findings showed that mortgage lenders violated U.S.

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Mortgage Lending Law Loan Officers 406

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. The pieces are coming together,” said Bob Broeksmit, president of the Mortgage Bankers Association. “The Affordable housing advocates are hopeful.

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Lending Finance Development Law 344

Housing Wire

FEBRUARY 17, 2022

Multichannel lender Finance of America (FOA) announced Thursday its chief executive officer, Patti Cook , will retire as soon as the company finds a successor. HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s unique homebuyer.

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Finance Investing Valuation Mortgage 284

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Non-qualified mortgages will continue to be the dominant product in the broker channel, the company said.

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Mortgage Retail Design Brokerage 337

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

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Business Mortgage Finance Design 335

Housing Wire

MARCH 17, 2023

a mortgage artificial intelligence firm focused on automated mortgage underwriting decisions, has conducted layoffs as lenders rush to cut costs. Candor is executing a change in strategy to address the ever-changing mortgage market and to pivot along with client operations,” Tom Showalter, CEO of Candor , said in an e-mailed response.

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Mortgage Clients Technology Development 311

Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. The programs are key to the GSEs’ equitable housing finance plans.

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Finance Law Lending Development 357

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. HW: How has mortgage finance changed in the last few years?

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Lending Finance Clients Client Relationships 315

Housing Wire

MARCH 28, 2024

The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications. The home-only lending market presents several major opportunities.

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Business Finance Buyers Lending 394

Housing Wire

JUNE 7, 2022

Few other industries must deal with the level of complexity of home finance. From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. We’re seeing mortgage executives and workers retiring at record rates.

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Lending Mortgage Technology Modernization 268

Housing Wire

JULY 19, 2022

Miami-based fintech Milo has closed $10 million in cryptocurrency mortgages since unveiling the product earlier this year, the company announced early Tuesday. The lender’s 30-year crypto mortgage is designed to make it easy for investors to use their digital holdings to acquire homes in the U.S. or pursue refinancing.

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Mortgage Design Insurance Lending 400

Housing Wire

APRIL 24, 2024

HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected.

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Real Estate Realty Realtors Project Management 423

Housing Wire

OCTOBER 16, 2023

Down payment assistance is offered through state finance agencies as well as local and municipal sources, which makes it difficult for lenders and borrowers to access the available resources. But finding and comparing the many programs and their guidelines is challenging.”

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Tools Finance Design Lending 476

Housing Wire

JUNE 15, 2021

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Johnson, based in Miami, has also worked at PNC Bank during his career in mortgage banking. Sprout does most of its business through mortgage brokers.

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Retail Mortgage Legal Lending 336

Housing Wire

DECEMBER 11, 2020

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. She now leads advisory firm Housing Finance Strategies and is a member of FormFree’s board of directors.

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Lending Contracts Investors Technology 395

Housing Wire

JANUARY 24, 2024

Freddie Mac updated its single-family social bond framework which includes refinements to its mortgage-backed securities (MBS) disclosures, “designed to further support underserved borrowers’ access to credit and affordable housing as part of the company’s mission and goals,” the announcement said.

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Investors Lending Finance Design 390

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. These funds can be utilized to consolidate debts or finance home improvement projects. The Loan Store, Inc.

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Finance Home Improvement Lending Valuation 323

Housing Wire

JANUARY 26, 2022

Tomo , a fintech mortgage startup run by former Zillow executives, is expanding its presence, announcing this week that it will now serve borrowers in Florida, Connecticut and Colorado. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Presented by: Mr. Cooper. the fintech company said.

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Mortgage Advertising Lending Brokerage 304

Housing Wire

DECEMBER 30, 2022

Chris Mozilo: While I’ve spent most of my 30-year career working at large firms, the most I ever learned in the mortgage business was the five years I worked at a small independent mortgage banker. At a small mortgage banker, leadership has to know all aspects of lending. in mortgage banking.

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Architecture Design Lending Housing Market 352

Housing Wire

MAY 14, 2024

Department of Housing and Urban Development (HUD) exists to facilitate the needs that Americans have for housing — needs that are challenged by affordability, inventory, mortgage rates and more — recent policies of the Biden administration have hindered affordability by focusing on climate-related housing issues instead of costs.

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Construction Design Government Inventory 318

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.”.

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Mortgage Technology Investing Investors 435

Housing Wire

FEBRUARY 29, 2024

Department of Housing and Urban Development (HUD) and the White House announced plans to extend the Federal Financing Bank (FFB) risk-sharing program, two prominent housing associations shared their differing perspectives on the move. In a series of policy announcements designed to address housing supply and affordability, HUD, the U.S.

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Insurance Finance Design Construction 287

Housing Wire

MAY 16, 2024

United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan. The top U.S. Department of Veteran Affairs (V.A.) loans but only for refinances.

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Insurance Agents Real Estate Agent Mortgage 422

Housing Wire

APRIL 23, 2024

The rule is designed to “[protect] the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation,” the FTC said in its announcement of the rule. It’s not common practice in the mortgage and real estate industries to make use of noncompetes. labor force.

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Real Estate Agent Loan Officers Lending Real Estate 388

Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage. billion, did not have the required NFIP coverage.

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Insurance Mortgage Realtors Design 349

Housing Wire

MAY 23, 2024

Freddie Mac ’s head of single-family acquisitions, Sonu Mittal , this week defended the government-sponsored enterprise’s proposal to acquire single-family, closed-end second mortgages amid opposition by trade groups that are worried about its impacts on the secondary market. “Six Six out of 10 borrowers are below a 4% mortgage rate.

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Insurance Mortgage Marketing Design 347

Housing Wire

OCTOBER 16, 2023

The White House on Monday announced a series of new initiatives designed to boost U.S. New initiatives include allowing homebuyers to leverage income from accessory dwelling units (ADUs), expanding mortgage lending for U.S. HUD will also continue to work on updates for its 203(k) Rehabilitation Mortgage Insurance Program.

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Design Insurance Construction Development 450

Housing Wire

MARCH 8, 2024

Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. trillion in residential mortgage debt as of first-quarter 2023. banks moved away from commercial real estate lending. FDIC), banks held $2.78

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Real Estate Insurance Lending Retail 440

Housing Wire

JULY 28, 2023

Through partnerships with Bubble Insurance Solutions and New American Funding , real estate agents at The Agency will have access to mortgage lending services and insurance services for their clients. NAF offers numerous home financing options including conventional, jumbo , non-QM, as well as others.

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Insurance Brokerage Clients Real Estate Agent 324

Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

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Mortgage Lending Technology Modernization 313