Housing Wire

SEPTEMBER 17, 2020

Average mortgage rates for a 30-year fixed mortgage increased slightly to 2.87% this week, the second-lowest on record, rising one basis point from last week’s all-time low of 2.86% , while the less-popular 15-year rate fell to a new low of 2.35%, Freddie Mac said on Thursday. rate for a 30-year fixed mortgage will be 3.1%

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Mortgage Lending Finance Buyers 512

Housing Wire

FEBRUARY 18, 2021

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey. Increasing lending and servicing capacity – regardless of mortgage rates.

Mortgage 545

Mortgage Supply Chain Lending Marketing 545

Housing Wire

JANUARY 22, 2024

Top-35 mortgage lender New American Funding (NAF) is in negotiations to acquire Chicago-based retail shop Draper & Kramer Mortgage Corp. As part of the deal , NAF would acquire the residential mortgage arm of Draper & Kramer , a property and financial services group established in 1893 by Arthur W. Draper and Adolph F.

Mortgage 346

Mortgage Retail Loan Officers Property Management 346

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. Most recently, NAF acquired $2 billion Chicago-based retail shop Draper & Kramer Mortgage Corp.

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Loan Officers Retail Finance Buyers 421

Housing Wire

SEPTEMBER 11, 2020

Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% trillion, the most since 2003, MBA said. 20 forecast.

Mortgage 545

Mortgage Government Contracts Lending 545

Housing Wire

SEPTEMBER 23, 2020

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. UWM’s move into the public markets follows that of rival Rocket Companies , the country’s largest mortgage lender by volume.

Mortgage 542

Mortgage Lending Business Inventory 542

Housing Wire

FEBRUARY 27, 2024

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Of the total, 53.6%

Loan Officers 421

Loan Officers Development Mortgage Real Estate 421

Housing Wire

APRIL 8, 2021

JPMorgan Chase has appointed Bhavesh Patel to lead client management for the bank’s correspondent lending channel. He will report to Terry Lindsey, head of correspondent lending for Chase, and is based in Houston, the bank said Thursday. He joined JPMorgan Chase in 2003. Overall, retail originations declined to $20.1

Retail 410

Retail Lending Clients Finance 410

Housing Wire

APRIL 14, 2022

had their mortgage businesses hit hard by the higher interest rate landscape in the first quarter of 2022. That’s a taste of what to expect from other mortgage lenders who have yet to report Q1 results. . mortgage lender by volume, originated $37.9 The bank’s revenues in the home lending business reached $1.5 Wells Fargo.

Mortgage 397

Mortgage Retail Business Lending 397

Housing Wire

JANUARY 24, 2023

About a quarter of American homeowners are unable to access the equity in their homes because of strict lending standards, and EasyKnock said the partnership will “improve housing stability for our mutual customers, providing them liquidity, flexibility and control in their finances.” billion, mortgage data platform Modex showed.

Tenants 384

Tenants Loan Officers Finance Clients 384

Housing Wire

MARCH 15, 2021

First, the refinance boom’s main driver in the 2000s was unhealthy because of the marketplace’s speculative unhealthy lending standards. In the 2020 market, on the other hand, refinances were not driven just by an increase in equity but lower mortgage rates. The graph below is from an article by Len Kiefer of Freddie Mac.

Lending 543

Lending Housing Market Mortgage Marketing 543

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. This is reflected in data collected by the mortgage tech platform Modex and the Nationwide Multistate Licensing System (NMLS). NAF, founded in 2003 by Patty and Rick Arvielo , originated $8.4 billion in mortgages in 2023. and NFM Lending.

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Loan Officers Human Resources Law Mortgage 410

Housing Wire

OCTOBER 22, 2020

history next to 2003. Frankly, what will be left in the refi market will likely be harder credit quality transactions that a hungry mortgage origination industry will turn to as volumes drop. Doing this now will help lending teams establish a game plan to increase the skills of any refinance-focused LOs, as well as their managers.

Mortgage 483

Mortgage Training Contracts Loan Officers 483

Housing Wire

APRIL 25, 2022

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . In 2020, the company acquired First Choice Loan Services , a New Jersey-based mortgage company with offices in 15 states. LendUS doesn’t have quite the same heft.

Retail 384

Retail Loan Officers Mortgage Lending 384

Housing Wire

JANUARY 4, 2021

ReverseVision , a reverse mortgage technology provider, announced on Monday its president, Joe Langner , will now serve as both president and chief executive officer after just nine months with the company. According to Inside FHA/VA Lending, reverse lending production increased 56.9% What’s next for Rocket Pro TPO?

Technology 363

Technology Lending Mortgage 363

Housing Wire

MARCH 1, 2022

Prior to her seven-year stint at the Federal Home Loan Bank of Pittsburgh, from 2013 to 2014 Anderson worked as an attorney at Relman, Dane & Colfax PLLC , specializing in fair lending counseling and compliance. As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase.

Human Resources 397

Human Resources Government Finance Mortgage 397

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. As you can see below, we haven’t had the mortgage credit boom like we saw during the housing bubble years.

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Inventory Law Housing Market Design 544

Housing Wire

FEBRUARY 10, 2022

Reverse mortgage software solutions and loan origination system (LOS) provider ReverseVision announced on Thursday morning that it has been acquired by a division of Toronto-based Constellation Software , a holding company that bought another mortgage LOS in 2019. Leadership at Constellation Mortgage Services, Inc.

Development 384

Development Modernization Technology Mortgage 384

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. housing market.

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Housing Market Mortgage Law Marketing 539

Housing Wire

APRIL 30, 2021

Top retail mortgage lender loanDepot has formed yet another strategic joint-venture with a fast-growing homebuilder. California-based loanDepot has formed a JV partnership with LGI Homes , called LGI Mortgage Solutions , the companies announced on Thursday. Increasing Lending and Servicing Capacity – Regardless of Rates. .

Retail 384

Retail Mortgage Lending Marketing 384

Housing Wire

JULY 28, 2022

In light of this, HousingWire recently caught up with Teraverde Chief Technology & Innovation Officer Rob Peterson to learn more about the key to lender profitability in today’s lending environment. HousingWire: As businesses of all types begin to rely more heavily on automation, is the mortgage industry doing enough to keep pace?

Technology 397

Technology Business Lending Training 397

Housing Wire

FEBRUARY 28, 2021

The lending industry is notorious for its poor customer retention – in fact, only 1 in 5 borrowers return to their original lender for a subsequent loan. Sales Boomerang solve this problem by helping banks, credit unions and independent mortgage lenders build lasting, profitable relationships with their borrowers. Arend de Jong, CFO.

Clients 384

Clients Home Value Design Tools 384

Appraiserblogs

JULY 15, 2021

It’s a lost art of business when it comes to the appraiser profession… I have been an appraiser since 2003, when I started my career path. The biggest issue that threatens the appraisers… The AMC Dog and Pony Show From the HVCC to today, can we really say the mortgage lending system has improved due to AMCs?

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Valuation Law Appraisal Lending 145

Empire Appraisal Group

NOVEMBER 22, 2023

He has been appraising real estate since 2003 and has successfully completed over 10,000 residential property appraisals. His clients include Loan Depot, Caliber Home Loan, United Wholesale Mortgage, Rocket Mortgage, and US Bank, among others.

Marketing 78

Marketing Real Estate Clients Realtors 78

Empire Appraisal Group

NOVEMBER 9, 2023

He has been appraising real estate since 2003 and has successfully completed over 10,000 residential property appraisals. His clients include Loan Depot, Caliber Home Loan, United Wholesale Mortgage, Rocket Mortgage, and US Bank, among others.

Marketing 78

Marketing Real Estate Clients Realtors 78

Housing Wire

OCTOBER 12, 2020

Due to the loosey-goosey lending standards of the time, many of these delinquent loan holders had little to negative equity. Added to this, the cash-out boom from 2003-2006 meant that many households had little to no nested equity when the crisis hit. Mortgage demand, too, is at an 11-year high.

Inventory 545

Inventory Housing Market Marketing Mortgage 545

Housing Wire

APRIL 18, 2023

In a cyclical mortgage industry, hedging is key to maintaining a buffer against losses. Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house.

Retail 370

Retail Business Agents Loan Officers 370

Housing Wire

NOVEMBER 10, 2022

From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. Mortgage rates today are not much higher than they were then. One challenging historical fact is that while mortgage rates fell from 13.24% in 1983 to 7.81% in 1996, it took that long for housing sales to reach the levels they did in 1978 to 1979.

Mortgage 473

Mortgage Housing Market Lending Finance 473

Housing Wire

JANUARY 10, 2024

Rapidly expanding Cleveland, Ohio-based CrossCountry Mortgage (CCM) has struck a deal to acquire the smaller retail mortgage lender AmCap Home Loans and bolster its operations in Texas. In November, the source added that CCM originated about 340 units and $112 million in mortgage volume in the state. billion in loans in 2023.

Retail 410

Retail Mortgage Loan Officers Training 410

Housing Wire

MARCH 12, 2024

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 Within the congressional justifications for the U.S.

Mortgage 430

Mortgage Insurance Training Government 430

Appraisal Buzz

NOVEMBER 3, 2021

The CRN Standards Committee, chaired by Elizabeth Green, Chief Product Solutions and Data Officer for LoanLogics, is working to provide a resource to the residential mortgage lending industry. The Collateral Risk Network was founded in 2003 by Joan Trice, and established as a non-profit, 501(c)(3) as of January 2020.

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Valuation Development Technology Appraisal 370

Housing Wire

DECEMBER 31, 2021

At the onset of the Coronavirus pandemic, the mortgage industry was preparing for absolute disaster. Mortgage executives held emergency meetings with their creditors over worst-case scenarios. Fratantoni’s organization is forecasting mortgage rates to gradually climb over the course of 2022, ending the year at 4%.

Marketing 432

Marketing Law Government Mortgage 432

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

Real Estate 370

Real Estate Real Estate Agent Technology Investors 370

Appraisal Today

AUGUST 5, 2022

My comments : The big push to cut down on appraisal turn times because of the appraisal shortage is Very Old News since mortgage volume has plummeted. NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, real estate market, unusual homes, mortgage origination stats, etc. Find out why not.

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Appraisal Valuation Contracts Modernization 59

Appraisal Today

APRIL 28, 2023

Mortgage lending is very cyclical and dependent on mortgage rates. Its current owner, Dr. Wei-Tzuoh Chen, tapped Niles to construct the abode after buying the property back in 2003, The Wall Street Journal first reported. Varies widely around the country. ==< Mortgage applications increased 3.7 percent from 6.43

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Appraisal Real Estate Business Contracts 52

Will Springer Realtor

MARCH 14, 2023

However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges. This time last year, buyers were aggressively scooping up available homes before the predicted increase in mortgage interest rates. each month between 2003 and 2022.)

Marketing 36

Marketing Buyers Inventory Sellers 36

Housing Wire

APRIL 19, 2022

Bank of America will pay a penalty smaller than the average down payment on a Fannie Mae -backed mortgage, after one of its mortgage loan officers allegedly violated the Fair Housing Act. billion and mortgage originations of $16 billion in the first quarter of 2022 — will pay just $15,000 to settle the claims HUD lodged against it.

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Loan Officers Mortgage Government Development 410