Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

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Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. In April, the lender bought the wholesale lending business from the now-defunct Home Point Capital.

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Housing Wire

APRIL 23, 2024

Department of Labor (DOL) on Tuesday announced a new rule that governs retirement advice, requiring more financial advisers to follow stricter fiduciary standards when dispensing advice about retirement-focused investments. Retirement investors are best protected by a uniform and protective framework.”

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Housing Wire

MARCH 28, 2024

Just five lenders originated more than 75% of all home-only loans from 2018 to 2022, four of whom specialize in home-only lending. The home-only lending market presents several major opportunities. For lenders, the market offers the prospect of a new and growing line of business.

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Housing Wire

JUNE 7, 2022

Servicers, especially those who service government-insured loan products, are under statutory time constraints that give them very little wiggle room. But unless the automation is specifically designed to solve these problems, it stands little chance of being effective. appeared first on HousingWire.

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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. The word “trended” is the source of the “T” in the 10 T name.

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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. Impac is transitioning its retail consumer direct lending division into a mortgage broker fulfillment model to offer various products at a reduced cost per loan.

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Housing Wire

NOVEMBER 29, 2022

This was “likely attributable to massive government stimulus and other support programs designed to stabilize the housing market during the COVID-19 pandemic,” according to the report. Bias in lending is a challenge that the mortgage industry has been struggling with, as seen from a handful of suits.

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Housing Wire

OCTOBER 2, 2023

Rocket’s move shows that the mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 3.3% in 2024 (the current limit on conventional loans is $726,200).

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Housing Wire

DECEMBER 10, 2020

The country was in the middle of the financial crisis, as the consequences of the deceptive mortgage lending practices from all the years prior came crashing down. This unconventional monetary policy is designed to encourage lending and investment, adding money back into the economy and lowering interest rates.

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Housing Wire

OCTOBER 16, 2023

At a time when you desperately need stability, your own government is sowing the seeds of profound instability. The MBA, alongside several other trade groups, sent a letter to lawmakers and monetary policymakers that the government can do much more to help the housing industry while still fighting inflation. And we’re playing offense.”

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Housing Wire

APRIL 27, 2023

The company will now operate as a mortgage brokerage, giving up its retail consumer direct lending division and winding down its third-party origination (TPO).

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Housing Wire

MAY 16, 2024

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. The product is available on conventional, Federal Housing Administration (FHA), and U.S. Department of Veteran Affairs (V.A.) loans but only for refinances. 0% down During UWM Live!

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Housing Wire

OCTOBER 23, 2020

Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”. It did not admit to any wrongdoing. Presented by: Total Expert.

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Housing Wire

AUGUST 22, 2023

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. The National Association of Mortgage Brokers (NAMB) said it supports new federal regulatory proposals governing the use of AVMs.

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Housing Wire

FEBRUARY 21, 2024

In 2021, Gigliotti created Axis 360 Lift , an online academy designed to educate aspiring mortgage and title professionals. Axis has lending and title academies, with an origination academy set to launch in the spring of 2024. The initial 30 days establish a foundational understanding of mortgage lending concepts.

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Housing Wire

JUNE 21, 2023

Earlier this month, that coalition of six federal agencies requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The Agencies expect to issue a proposed rule to implement the Dodd-Frank Act’s AVM amendments to FIRREA in June 2023.”

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Housing Wire

MARCH 23, 2023

HUD also announced this week that it had awarded $54 million in grants across 42 states designed to curb appraisal bias. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. The entire system has to be designed to inflate the price over time. Remember, the system is designed to keep home prices inflated.

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Housing Wire

MAY 25, 2022

There is also the matter of efficiency versus increased lending cost. As government regulations constantly shift, keeping on top of and adhering to these changes can become a time-consuming task. The Newrez non-QM suite is comprised of three different loan types, each designed for a different kind of borrower.

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Housing Wire

JANUARY 29, 2021

This surge in eNote usage also comes as more lenders and even government agencies begin accepting eClosings. More importantly, consumers expect the mortgage lending process to be as easy for them as other types of transactions that are completely digital. “No Presented by: SimpleNexus.

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Housing Wire

DECEMBER 15, 2020

LERETA has acquired the Flood Determinations Solution from Wolters Kluwer Governance, Risk and Compliance for an undisclosed sum, according to reports. 10 it announced an agreement to acquire eOriginal , a cloud-based digital lending software, for approximately €231 million ($280 million) in cash.

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Housing Wire

JUNE 24, 2021

Panelists: Brian Covey, VP, Regional Production, loanDepot Andrew Haberman, Digital Marketing Manager, Synergy One Lending Neel Dhingra, Mortgage Banker, All Western Mortgage Brena Nath, Managing Editor, HousingWire. Panelists: Scott Betley, Loan Officer, NFM Lending Brena Nath, Managing Editor, HousingWire. Building a Personal Brand.

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Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. By contrast, first-lien lending overall fell 22.3%

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Housing Wire

SEPTEMBER 6, 2023

Investor expectations will change, and government entities will attempt to coordinate their response. Any future exit from conservatorship will confront issues beyond capitalization such as data monetization, risk parameters, secondary market design, FHA execution and the pricing of mortgage guarantees.

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Housing Wire

DECEMBER 2, 2020

It would require coordination and cooperation with government and the transformation of processes and systems within industry giants. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure. Of course, disruption is the whole point.

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Mortgage Lending Technology Modernization 384

Housing Wire

MARCH 3, 2022

Homeowners with mortgages from Fannie Mae , Freddie Mac , or government agencies such as the Federal Housing Administration (FHA) suffering a financial hardship could defer payments up to 18 months. of loans in Pennymac’s predominantly government-insured or guaranteed MSR portfolio were in forbearance plans and delinquent.

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Housing Wire

AUGUST 5, 2020

As part of NAMB’s Call to Action, almost 20,000 mortgage brokers and loan originators were able to help our non-bank lender partners by contacting their legislators to require the two government-owned entities – Freddie Mac and Fannie Mae – to purchase these loans without these overlays. In the last 47 years, there have been so many changes.

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Housing Wire

DECEMBER 23, 2021

By attaching other services, the program not only fills a void in the social safety net for these young adults, but provides an opportunity for them to work toward their educational, employment, and other life goals, adding skills that will lend themselves to productive and self-sufficient futures.

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Housing Wire

NOVEMBER 7, 2023

Potter added: “Government lending would come to a halt. Buyers working with an agent or directly with a listing agent may need to figure out a way to negotiate these costs into the mortgage to reduce their down payments, said David Marden , designated managing broker at Hausmarkt.

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Housing Wire

SEPTEMBER 17, 2021

This borrower-oriented model could help the industry design a framework for any natural disaster in the future. Most importantly, the CARES Act created a standardized relief program for homeowners with mortgage loans backed by the Government Sponsored Enterprise (GSE) housing agencies (Fannie Mae, Freddie Mac, and Ginnie Mae).

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Mortgage Technology Insurance Government 404

Housing Wire

JULY 6, 2023

Clearly, not all these homes can be returned to the market in a cost-effective way, or face other obstacles, such as their location in higher-crime or deteriorating neighborhoods, according to Keith Lind, CEO of Acra Lending. Just because there’s vacant homes in the U.S. housing affordability.”

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Housing Wire

MAY 18, 2022

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. And I think it’s important for lenders to frame the product that way with borrowers – as a proactive tool designed specifically for older homeowners and one that can help them retire with more financial freedom and peace of mind.

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Housing Wire

DECEMBER 20, 2023

Fair lending concerns Another repercussion in the market is that savvy borrowers gain access to lower rates when lead sources are manipulated. Less educated applicants could be quoted higher rates for the same loan, raising concerns about fair lending practices. “But we already have fair lending rules.

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Housing Wire

MAY 16, 2023

.” At that time, historically low rates spurred the mortgage market to $4 trillion in volume — and the perception among the rank-and-file was that Home Point Capital ‘s wholesale lending business Homepoint was a great place to work. In addition, Home Point sold its delegated correspondent business to Planet Home Lending.

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Mortgage Lending Business Technology 392

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. The financing for the initial deal was handled through a cryptocurrency lender called Helio Lending.

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