Housing Wire

NOVEMBER 17, 2021

Written by an independent third-party auditing firm, the study produces a net present value of the total FHA forward and reverse mortgage portfolios. Just look at HUD’s own data on FHA lending: 1. The actuarial study is completed as an obligation to Congress and submitted each November. What is the capital reserve ratio?

Insurance 385

Insurance Mortgage Bracketing Government 385

Housing Wire

MAY 24, 2024

Congress sent a letter to the Federal Housing Finance Agency (FHFA) that opposes a plan for the government-sponsored enterprise (GSE) Freddie Mac to purchase and guarantee single-family, closed-end second mortgages. It’s only if you have a Freddie Mac first mortgage.

Mortgage 365

Mortgage Finance Insurance Government 365

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? Is there demand for “mortgages” to buy virtual real estate in the Metaverse? However, to call it a “mortgage” in the traditional sense may be incorrect, for now. TerraZero is not a licensed mortgage lender. Underwriting a Metaverse mortgage.

Real Estate 527

Real Estate Mortgage Property Taxes Law 527

Housing Wire

MARCH 12, 2024

federal government. Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Of that total, $220 billion is estimated for standard forward mortgages and $17.9 billion is for HECM.”

Mortgage 326

Mortgage Insurance Training Government 326

Housing Wire

MAY 22, 2024

Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its share of total HECM endorsements in 2023 rise to its highest level since 2019. That’s not saying all that much. Still, signs of new life have emerged over the past seven months. A sleeping giant?

Mortgage 334

Mortgage Loan Officers Lending Business 334

Housing Wire

APRIL 11, 2024

Jamie Dimon evidently believes in the KISS principle when it comes to mortgage — keep it simple, stupid. In his annual letter to shareholders , the influential head of JPMorgan Chase wrote that “we can fix the housing and mortgage” markets. Do we want to reasonably give smaller banks a leg up in purchasing a failing bank?

Mortgage 331

Mortgage Finance Business Insurance 331

Housing Wire

OCTOBER 18, 2023

The commissioner also discussed the rise in mortgage loan assumptions. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.”

Mortgage 362

Mortgage Government Insurance Tools 362

Housing Wire

DECEMBER 1, 2021

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. As the housing market changes, so does lending fraud.

Mortgage 517

Mortgage Insurance Lending Government 517

Housing Wire

FEBRUARY 22, 2022

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. The watchdog agency provided clarity for the kind of research and data that go into creating a targeted lending program.

Lending 300

Lending Development Finance Law 300

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. The second recommendation is a straightforward request to increase the company’s budget.

Modernization 322

Modernization Government Contracts Insurance 322

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

Mortgage 426

Mortgage Renovations Appraisal Process Finance 426

Housing Wire

OCTOBER 4, 2022

The Federal Housing Administration (FHA) on Tuesday issued a request for feedback from the public on how it can increase access to small balance mortgages through its single-family mortgage insurance programs. Due to high fixed origination costs, many mortgage lenders shy away from offering mortgages under $150,000.

Mortgage 333

Mortgage Government Lending Finance 333

Housing Wire

APRIL 10, 2023

After four years of Congress hiking Veterans Administration (VA) so-called “Bluewater Navy” mortgage loan fees as an offset to pay for other critical veterans’ benefits, Congress has finally let those excessive VA mortgage loan fees expire. Mortgage loan fees should not be higher than needed to safely run government-backed lending.

Mortgage 390

Mortgage Insurance Buyers Government 390

Housing Wire

AUGUST 17, 2022

The Community Home Lenders Association and the Community Mortgage Lenders of America , two Washington, D.C. lobby groups representing smaller mortgage lenders, will join forces. David Horne, the previous CHLA’s government relations representative, was chief of staff under HUD Sec. Steve Preston.

Mortgage 341

Mortgage Lending Insurance Government 341

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Housing Market 312

Housing Market Mortgage Marketing Real Estate 312

Housing Wire

JULY 26, 2021

The roots of racial disparities in housing and mortgage markets run deep. Government-backed New Deal programs of the 1930s openly discriminated against minority borrowers and neighborhoods. Justice Department charges of fair-lending violations. As with many industries, the mortgage-lending market has increasingly moved online.

Mortgage 498

Mortgage Lending Real Estate Agent Government 498

Housing Wire

OCTOBER 30, 2023

In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage. Several lenders have rolled out down payment assistance programs recently, including Rocket Mortgage , United Wholesale Mortgage , Guild Mortgage and Guaranteed Rate.

Lending 464

Lending Retail Finance Insurance 464

Housing Wire

JUNE 7, 2022

From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. Smaller mortgage originators often deal with this problem by throwing more people at it. We’re seeing mortgage executives and workers retiring at record rates.

Lending 270

Lending Mortgage Technology Modernization 270

Housing Wire

JANUARY 20, 2021

Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. are eligible to apply for mortgages backed by the FHA. are not eligible for FHA-insured mortgages.” .”

Mortgage 546

Mortgage Law Insurance Legal 546

Housing Wire

NOVEMBER 29, 2023

Government-owned corporation Ginnie Mae announced on Wednesday that it has revised its definition for high-balance loans, conforming to new limits announced earlier this week by the Federal Housing Finance Agency (FHFA), according to All Participants Memorandum (APM) 23-13. Virgin Islands, the one-unit property limit is ​$1,149,825​​.

Insurance 331

Insurance Finance Government Mortgage 331

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.

Insurance 349

Insurance Mortgage Marketing Design 349

Housing Wire

DECEMBER 14, 2020

Nexsys Technologies , a subsidiary of Rocket Companies , launched its Clear HOI platform for all mortgage lenders on Wednesday – a new product it says will cut homeowners’ insurance verification time to mere minutes. “Clear HOI has made what used to be a time intensive step an instant one.”

Mortgage 292

Mortgage Insurance Lending Technology 292

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The fate of Wells Fargo & Co. ’s Presented by: Reggora.

Mortgage 363

Mortgage Lending Business Insurance 363

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 395

Finance Government Mortgage Legal 395

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 481

Mortgage Government Retail Lending 481

Housing Wire

MAY 20, 2021

The founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also the president of the Mortgage Bankers Association in the late 1990s, pleaded guilty to five counts of bank fraud, money laundering and false statements to a financial institution. billion for the government-sponsored entity.

Mortgage 335

Mortgage Government Lending Insurance 335

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. The bank also claims that the government’s motion does not adequately address promises made by Ginnie Mae officials and the impact those promises had on the operations of the bank, attorneys said.

Government 310

Government Contracts Finance Lending 310

Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. The home-only lending market presents several major opportunities.

Business 396

Business Finance Buyers Lending 396

Housing Wire

MARCH 13, 2023

mortgage lender in 2022, said it enhanced its financial position by accessing additional borrowing capacity from the Federal Reserve Bank and JPMorgan Chase & Co. Its consumer deposits have an average account size of less than $200,000, compared to the standard insurance amount by the Federal Deposit Insurance Corporation of $250,000.

Mortgage 346

Mortgage Marketing Insurance Real Estate 346

Housing Wire

FEBRUARY 21, 2023

FOA announced its intention to exit the forward mortgage originations business in late 2022 by winding down the operations of Finance of America Mortgage.

Business 298

Business Lending Finance Real Estate 298

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

Mortgage 391

Mortgage Clients Insurance Tools 391

Housing Wire

APRIL 13, 2022

But that engine could stall if action isn’t taken to increase the supply of affordable housing and expand opportunities for lending to underserved families. To stimulate production, local governments can incentivize developers to set aside affordable housing for underserved households, especially by granting tax breaks and density bonuses.

Insurance 367

Insurance Construction Government Lending 367

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Insurance 488

Insurance Development Mortgage Government 488

Housing Wire

MARCH 9, 2022

International governance, risk and compliance giant Wolters Kluwer has inked a deal to acquire International Document Services (IDS) for $70 million in cash. IDS, currently owned by the Reynolds and Reynolds Company , is among the top providers of compliance and document generation software solutions for the mortgage and real estate industry.

Lending 310

Lending Government Law Insurance 310

Housing Wire

AUGUST 26, 2021

The most salient Ginnie Mae responsibility is managing the government guarantee of mortgage-backed securities (MBS) that lenders issue to fund their origination of Federal Housing Administration (FHA), Veteran Affairs (VA), and Rural Development insured mortgages. trillion of privately issued MBS.

Government 402

Government Lending Investors Finance 402

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 363

Marketing Mortgage Investors Sellers 363

Housing Wire

AUGUST 18, 2022

Ginnie Mae is not budging on its proposal to put a 250% risk weight on gross mortgage servicing rights. Government loans and conforming loans held for sale would have a 20% risk weight. Excess mortgage servicing rights would be excluded from the net worth calculation. government.

Government 381

Government Mortgage Business Valuation 381