Housing Wire

APRIL 24, 2024

Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. Pennymac’s servicing portfolio continues to grow. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 That was less than the $38.1

Lending 378

Lending Legal Contracts Mortgage 378

Housing Wire

JANUARY 8, 2024

But don’t expect profitability to be significant compared to long-term historical averages as home prices still remain high. Median home prices trended lower for the fifth consecutive month on an absolute basis in November, down 5% from near-term highs in June. A variable that could lead to a softening in home prices is unemployment.

Mortgage 408

Mortgage Marketing Investing Buyers 408

Housing Wire

DECEMBER 12, 2023

The Council of Multiple Listing Services announced its new board of director members for 2024 on Tuesday. Both Haag and Haran were elected to serve three-year terms on the board of directors. Matthew Consalvo, the CEO of Arizona MLS (ARMLS), was re-elected to a second three-year term. “We

Real Estate Agent 365

Real Estate Agent Real Estate Agents Government 365

Housing Wire

JANUARY 23, 2024

Financial services firm Consolidated Analytics acquired Real Info, Inc. — Consolidated Analytics expects the acquisition will result in a broader client base, strengthening the firm’s market presence and accelerating innovation in valuation services. Terms of the deal were not disclosed.

Valuation 418

Valuation Market Value Clients Government 418

Housing Wire

MARCH 26, 2024

Ellington Financial , the parent company of reverse mortgage industry lender and servicer Longbridge Financial , announced the successful closing of a new securitization backed by a pool of proprietary reverse mortgages initially originated by Longbridge. It’s been a tough business.

Mortgage 417

Mortgage Business Investors Marketing 417

Housing Wire

FEBRUARY 27, 2024

Financial services consulting firm ThoughtFocus appointed Santhosh Ananthakrishnan to the position of chief business officer. I am very impressed with the rich portfolio of long-term customer relationships that the firm has built,” Ananthakrishnan said in a statement.

Business 337

Business Technology Clients Development 337

Housing Wire

DECEMBER 22, 2023

The firm announced Thursday that MyHome , a WFG subsidiary, has acquired technology and marketing services provider Volly. The financial terms of the deal were not disclosed. Williston Financial Group is closing out 2023 with yet another acquisition.

Retail 385

Retail Valuation Tools Technology 385

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 492

Insurance Development Mortgage Government 492

Housing Wire

JANUARY 9, 2024

Established in 1997, 360 specializes in comprehensive online training solutions for individuals and businesses across industries – including financial services, real estate, healthcare and environmental health and safety. The financial terms of the transaction were not disclosed.

Mortgage 372

Mortgage Training Lending Real Estate 372

Housing Wire

FEBRUARY 14, 2024

According to those analysts, lenders may have sold their mortgage servicing rights (MSRs) throughout 2023 to increase short-term liquidity, putting them at a disadvantage when refis pick up. Why should lenders retain servicing? Maintaining MSRs generates servicing fee income and helps servicers improve the customer experience.

Investors 325

Investors Modernization Insurance Mortgage 325

Housing Wire

APRIL 10, 2024

loans from mortgage services and place them in its portfolio at a fixed 2.5% The Veteran Affairs Servicing Purchase (VASP) program attempts to prevent foreclosure actions against military members still experiencing financial hardship due to the consequences of the COVID-19 pandemic. Department of Veteran Affairs (V.A.) interest rate.

Mortgage 345

Mortgage Government Lending Law 345

Housing Wire

FEBRUARY 1, 2024

Rampell will serve “for a term expiring at the company’s annual meeting of stockholders to be held in 2025 and until his successor is elected and qualified, subject to his earlier death, resignation, retirement, disqualification or removal.” Rampell will receive an annual cash retainer of $75,000, prorated for partial years of service.

Technology 379

Technology Finance Mortgage Investing 379

Housing Wire

APRIL 26, 2024

” The financial terms of the settlement represent a sole obligation of HomeServices, with no participation by any parent entity, to effectively conclude the antitrust litigation. The Department of Justice has also taken an interest in the Sitzer/Burnett case and may attempt to convince Judge Bough to change the terms of the settlement.

Brokerage 443

Brokerage Agents Real Estate Buyers 443

Housing Wire

DECEMBER 21, 2023

I’m here to debunk the myths and explain why every veteran and qualifying service member should embrace this well-deserved benefit and capitalize on the opportunities it presents. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

Mortgage 435

Mortgage Renovations Appraisal Process Finance 435

Housing Wire

OCTOBER 31, 2023

The data includes Rocket Mortgage , United Financial Mortgage , Pennymac Financial Services (PFSI), loanDepot , Finance of America and Pennymac Mortgage Investment Trust. Mortgage servicing portfolio Many companies in the sector have servicing and origination segments that act as natural hedges against interest rate volatility.

Mortgage 405

Mortgage Valuation Finance Investing 405

Housing Wire

NOVEMBER 3, 2022

Retail lender and servicer Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. Mr. Cooper last week reported that its profits in the third quarter fell 58% from a year ago, to $113 million, boosted tremendously by its servicing portfolio.

Loan Officers 432

Loan Officers Retail Business Investing 432

Housing Wire

JANUARY 3, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. This decision was made carefully to ensure the company is best positioned for the long term, while continuing to provide our customers with the highest level of service.”

Loan Officers 371

Loan Officers Development Investors Finance 371

Housing Wire

AUGUST 1, 2023

Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Terms of the deal were not announced.

Real Estate 330

Real Estate Lending Technology Investing 330

Housing Wire

JANUARY 26, 2024

More than half of mortgage executives who participated in Stratmor’s recent survey indicated that they do not believe their companies have turned the corner to become profitable when it comes to originations — excluding servicing. million as of Q3 2023.

Mortgage 427

Mortgage Contracts Business 427

Housing Wire

NOVEMBER 27, 2023

Overall, purchase volume is now down 56% from the near-term peak in January 2021 and 9% below the previous trough in 2014. The drop in prepayment speeds indicates mortgage servicing rights (MSR) amortization expense should continue to decline, a positive development for mortgage companies with large servicing fee revenue streams.

Mortgage 374

Mortgage Investing Government Real Estate 374

Housing Wire

APRIL 5, 2024

In November 2023, Ginnie Mae pools remained relatively steady at 5.7%, and the low prepayment speeds “indicate mortgage servicing rights (MSR) amortization expense should continue to decline,” according to reporting by HousingWire’s Connie Kim. Quality MSRs correlate to those at lower risk of prepayment. “We

Government 437

Government Mortgage Marketing 437

Housing Wire

FEBRUARY 28, 2024

A net loss in originations and a “drag from interest rate hedges exceeded net gains on proprietary loans, reverse MSR-related net assets and servicing income,” Herlihy explained. It’s a business that we absolutely believe in long term,” Penn said. I expect this to happen around midyear.” It’s been a tough business.

Mortgage 367

Mortgage Investors Retail Business 367

Housing Wire

JANUARY 31, 2024

United Wholesale Mortgage (UWM) announced Wednesday that it’s allowing its broker partners to offer a temporary discount of 100 basis points (bps) for conventional rate-and-term refinances. More relief may come with the Federal Reserve’s decision to hold its short-term policy interest rate steady at 5.25% to 5.5% on Wednesday.

Government 427

Government Mortgage Clients Business 427

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. Proceeds from the offering will be used to repay a portion of the Company’s secured term notes due 2025 and for other general corporate purposes,” Pennymac said in an 8-K filing with the Securities and Exchange Commission (SEC).

Contracts 363

Contracts Investing Mortgage Investors 363

Housing Wire

MARCH 28, 2024

Under the terms of NAR’s settlement agreement, the practice of cooperative compensation is still allowed, but it cannot be offered through a Multiple Listing Service (MLS). Sellers or buyers can pay the buyer’s agent’s fees.

Real Estate Agent 424

Real Estate Agent Sellers Buyers Agents 424

Housing Wire

MARCH 28, 2024

Going forward, Better is focused on driving market share and reaching profitability in the medium term. Further, the seasoned loan officers are providing an increased level of service to consumers that enable us to improve revenue for loans while remaining market competitive.” Better Home & Finance Holding Co. ,

Loan Officers 391

Loan Officers Technology Investing Realtors 391

Housing Wire

JULY 17, 2023

The United States Supreme Court released its calendar of oral arguments for its 2023-24 term late last week, and is wasting no time in hearing oral arguments in a case that could decide the fate of the Consumer Financial Protection Burau (CFPB). Community Financial Services Association on Oct.

Lending 330

Lending 330

Housing Wire

MAY 25, 2023

The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. said in a statement.

Business 370

Business Mortgage Loan Officers Inventory 370

Housing Wire

AUGUST 9, 2021

Once again, servicers’ forbearance portfolio volume fell — this time dipping seven basis points to 3.40% for the week ending Aug. How can servicers best help borrowers as they exit forbearance? How can servicers best help borrowers as they exit forbearance? 1, according to a survey from the Mortgage Bankers Association.

Mortgage 427

Mortgage Insurance Tools Development 427

Housing Wire

SEPTEMBER 21, 2023

Loan quality and audit services company QC Ally on Thursday announced the acquisition of third-party due diligence solutions company Inglet Blair. Terms of the deal were not disclosed.

Investors 344

Investors Clients Technology Mortgage 344

Housing Wire

SEPTEMBER 11, 2023

The terms of the acquisition were not disclosed. Founded in 2021, Onder sells a subscription-based home maintenance service that deploys technicians to help with both interior and exterior property maintenance. Krieger said customers will not experience an interruption in their service due to the acquisition.

Modernization 380

Modernization Investors Housing Market Buyers 380

Housing Wire

MARCH 9, 2022

Mortgage servicing software provider Sagent announced on Wednesday that it has extended its software partnership with Freedom Mortgage for another five years, the latest in a string of deals it has struck with some of America’s largest mortgage servicers. Freedom currently has about $400 billion in servicing UPB. “As

Mortgage 357

Mortgage Technology Marketing Lending 357

Housing Wire

APRIL 10, 2024

Following the wind down of its forward mortgage business and sales of non-reverse segments including Lender Services, Commercial Originations and Home Improvement, FOA is focused solely on the reverse mortgage market,” the company said. The Company has substantially completed its exit from all non-core businesses at the end of Q1’24.”

Business 386

Business Investors Finance Home Improvement 386

Housing Wire

MARCH 3, 2024

In turn, rate/term refis , which have effectively been nonexistent for some time, made up 24% of all refinance activity to mark a two-year high. “We Servicers retained just one of every five such borrowers in Q4 2024, a 17-year low. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

Lending 498

Lending Mortgage Buyers Government 498

Housing Wire

JANUARY 9, 2024

Weinbach, 50, will be in charge of the company’s operations, which includes originations, servicing and technology, Mr. Cooper announced on Tuesday. million and $3 million and be eligible for a long-term incentive for the 2024 fiscal year of $4.2 On the servicing side, it had 4.3 The effective date is Feb.

Lending 348

Lending Clients Technology Mortgage 348

Housing Wire

JULY 7, 2023

Nationwide Property and Appraisal Services LLC (NPAS), led by Sri Velamati and one of the largest appraisal management companies in the U.S., The acquisition of Integrity will help NPAS strengthen its ability to expand market reach and enhance product and service offerings, the company said in a statement.

Appraisal 336

Appraisal Investing Marketing Valuation 336

Housing Wire

NOVEMBER 15, 2023

Fed funds rates, 30-year mortgage rates ‘have likely crested’ “I believe we’ve already reached the peak in terms of interest rates,” Yun told the audience. Consumers are happy with real estate service. American homebuyers have benefitted immensely from such wide-ranging choices in real estate services.

Real Estate 454

Real Estate Inventory Sellers Realtors 454