Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 million; pool 2, 2,217 loans valued at $338.9 Terms of the sale were not disclosed.

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Housing Wire

APRIL 23, 2021

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. After last year’s record $3.83 trillion, which would still be the third-highest total on record.

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Housing Wire

OCTOBER 19, 2022

household debt rose 2% sequentially in the second quarter of 2022, or $312 billion, to $16 trillion. credit card balances also growing 2% ($46 billion) in the second quarter. According to the New York Fed, total U.S. The report says this rise in debt was primarily collected on charge-off credit card receivables, with U.S.

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Supply Chain Government Mortgage Marketing 405

Housing Wire

JUNE 22, 2022

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. billion in the first quarter, down 20% compared to the same quarter in 2021. Origination volume totaled $24.7

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Housing Wire

OCTOBER 5, 2023

Between the summer of 2019 to date, there have been at least 26 securitization deals backed by home equity products valued in total at some $6.1 Between the summer of 2019 to date, there have been at least 26 securitization deals backed by home equity products valued in total at some $6.1 billion, according to offering documents.

Housing Market 398

Housing Market Marketing Contracts Finance 398

Housing Wire

SEPTEMBER 21, 2020

The housing and mortgage markets have been the rare bright spots in an otherwise fragile economy brought forth by the ongoing COVID-19 pandemic. Mortgage origination volume this year is on track to be the highest in more than 15 years, led by a strong wave of refinances. Just how busy have lenders been?

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Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. to 4.75% range, up from 0.25% a year ago.

Marketing 370

Marketing Investing Mortgage Investors 370

Housing Wire

NOVEMBER 1, 2023

And to be blunt, I’ve been in conversations around deals that I think would be shocking, but nothing’s transacted yet. “… I can tell you that I have two [potential M&A deals] that I’m leading currently. “And I think there could be some big deals,” he said.

Mortgage 437

Mortgage Loan Officers Finance Buyers 437

Housing Wire

JUNE 30, 2022

A year ago at this time, 30-year fixed rate purchase rates were at 2.98%. The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession,” said Sam Khater, chief economist at Freddie Mac. million in 2021. .

Mortgage 367

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Housing Wire

MARCH 16, 2022

The Federal Open Market Committee on Wednesday raised the federal funds rate for the first time in four years, marking an end to the easy money that gave rise to the hottest mortgage market in U.S. percent, the first time the FOMC has changed the federal funds rate in two years, and the first rate hike since March 2018.

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Housing Wire

APRIL 1, 2024

In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period. Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream.

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Housing Wire

DECEMBER 16, 2021

The last two years have been a wild ride. The latest news regarding the Omicron variant has many cautious about whether the recovery that began in the second half of 2020 and blossomed in 2021 can continue. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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Marketing Mortgage Supply Chain Inventory 454

Housing Wire

APRIL 14, 2022

Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

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Housing Wire

APRIL 20, 2022

The drop was largely driven by an 8% decline in refinancing applications, which was 68% lower than the same week one year ago. Purchase mortgage applications were down 14% from the same week a year ago. Home purchase activity has been volatile in recent weeks and has yet to see the typical pick up for this time of the year,” said Kan.

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Mortgage Contracts Buyers 406

Housing Wire

FEBRUARY 9, 2021

Mortgage credit is still the tightest it has been in more than six years, but steady loosening in January revealed lenders are preparing for a rebounding economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index rose 2% to 124.6 Department of Agriculture fell by.1%,

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Mortgage Lending Government Contracts 541

Housing Wire

NOVEMBER 7, 2022

California lender New American Funding issued pink slips to 240 employees last week, bringing the total cut this year to nearly 1,000. The force reductions come after two years of rapid expansion. and 50 states, the lender has 157 active branches nationwide, according to the NMLS. In 2021, the lender originated $29.3

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Training Mortgage Government Finance 277

Housing Wire

JUNE 15, 2022

The markets have been shaken to the core. increase year-over-year in May, 30 basis points above the consensus estimates – and enough for stock futures to sink and bond yields to soar. Such volatility has triggered turbulence in the mortgage market. On Friday, the U.S. Consumer Price Index clocked an 8.6% in early January.

Mortgage 382

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Housing Wire

NOVEMBER 9, 2022

And so, the bottom 20% of volume [handled by 60% of LOs] this is the part that has not yet shown up in [the layoff] data yet. trillion [mortgage origination] market [in 2021] now forecast to drop to a $2 trillion market [next year],” Graham said. “I Cooper disclosed that it was laying off some 800 staff. .

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Housing Wire

AUGUST 30, 2022

On Tuesday, the S&P CoreLogic Case Shiller Index reported that national home prices grew 18% year over year. months even if the last existing home sales report showed home price growth of near 11% year over year. months even if the last existing home sales report showed home price growth of near 11% year over year.

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Inventory New Listings Law Housing Market 383

Housing Wire

MARCH 9, 2021

As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021.

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Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. trillion in 2021. We’re seeing a lot of that this year, and it will certainly continue in 2023.

Mortgage 394

Mortgage Finance Marketing Business 394

Housing Wire

APRIL 14, 2023

The drop in production volume was widely anticipated, as Wells Fargo announced its plan to exit correspondent lending and shrink its retail mortgage business footprint earlier this year. billion in Q4 2021. billion in the same quarter in 2021. Home lending revenue was down 38% year on year. billion in Q1 2022.

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Lending Retail Mortgage Investing 329

Housing Wire

JUNE 16, 2022

So far, the short-term fed funds rate that the Fed directly controls has risen by 175 basis points but the 30-year fixed rate mortgage has risen by nearly 300 basis points, said Lawrence Yun, chief economist at the National Association of Realtors (NAR). trillion in new loans in 2020 and $3.9 trillion in 2022 and $2.3

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Housing Wire

AUGUST 15, 2022

The interest rate for a 30-year, fixed-rate mortgage averaged 5.22% as of August 11, according to Freddie Mac’s most recent weekly Primary Mortgage Market Survey. Balances on home-equity lines of credit (HELOCs) increased by $2 billion [in Q2], a modest increase but one that follows many years of declining balances,” the report continued.

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Lending Home Value Mortgage Renovations 426

Housing Wire

FEBRUARY 3, 2022

The six companies that went public over the last two years have, in the aggregate, lost around $36 billion in combined market cap value since the first nonbank, Rocket, debuted on the market in the summer of 2020, according to an analysis of stock values by HousingWire. million in profit in the last three months of the year, down 90.5%

Mortgage 376

Mortgage Retail Finance Investors 376

Housing Wire

DECEMBER 27, 2022

In recent months, the canary has been chirping with far less exuberance as inflation (now above 7% annualized ), rising mortg a ge rates , declining home values and the potential of faster-rising unemployment spurred on by a potential recession in the coming year all grip the FHA sector. million in mortgages valued at $1.7

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Insurance Home Value Mortgage Marketing 475

Housing Wire

APRIL 11, 2022

Black Knight’s stock has been punished due to the company’s exposure to the mortgage business – after reaching a record of $4.4 trillion in 2021, origination volume is expected to decline in the coming years as interest rates eclipse 5%. billion in revenue in 2021, a 19% jump compared to 2020.

Technology 314

Technology Investors Mortgage Lending 314

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.

Mortgage 356

Mortgage Marketing Investors Lending 356

Housing Wire

MARCH 10, 2023

Along with the solid base of home equity that now exists — a byproduct of the rapid home-price appreciation in recent years — there also has been an increase in demand by borrowers to tap that equity. Toohig said Raymond James finished the year with some $1.1 to 2 points.” rebranded as Rithm Capital ).

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Housing Market Marketing Contracts Lending 364

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. This is nearly three times the monthly average witnessed in 2021,” he added. We closed a $10 billion deal not long ago,” he said.

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Marketing Mortgage Sellers Valuation 370

Housing Wire

JUNE 6, 2022

A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. loanDepot: Unknown.

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Mortgage Loan Officers Lending Human Resources 416

Housing Wire

OCTOBER 22, 2020

trillion, the second-largest origination year in U.S. It’s worth looking inside the numbers though as we head toward year-end and think about 2021 strategies. 2021 is expected to show refinance volume being cut nearly in half by just over $800bb, almost 50% of 2020. history next to 2003.

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Mortgage Training Contracts Loan Officers 403

Housing Wire

NOVEMBER 2, 2022

It’s clear that 2023 will be a very different year for the title industry than what we’ve experienced in the recent past. Despite the forecasted decline in orders, we’re still expecting an overall origination volume of just over $2 trillion. Historically, that has represented a solid market, albeit not spectacular.

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Business Technology Human Resources HOA 360

Housing Wire

OCTOBER 13, 2022

One market expert sees a similar fate ahead for IMBs, absent an RTC, predicting that over the next two years more than one-fifth of the nonbank lenders now operating nationwide will merge or otherwise disappear. . Mortgage origination volume this year is projected to decline drastically, by $2 trillion to $2.1

Mortgage 366

Mortgage Marketing Buyers Sellers 366

Housing Wire

OCTOBER 31, 2022

trillion in savings they accumulated through mid-2021 above and beyond what they would have saved if income and spending had grown in line with the prepandemic economy, according to estimates by Fed economists. .” This year, I raised my sixth recession red flag on August 5, so I am on recession watch now.

Law 515

Law Inventory Lending Mortgage 515

Housing Wire

JULY 19, 2021

The independent public offering comes following a banner year for the mortgage industry , in which Blend still lost $75 million on revenue of $96 million. It checks income, it verifies identities and has become an essential consumer-facing processing tool for some of the largest mortgage lenders in the country.

Insurance 383

Insurance Investors Technology Real Estate Agent 383

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those securitization outlets for home-equity products are critical to ensuring liquidity for ongoing operations.

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Contracts Lending Investing Investors 357