Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. “The mortgage industry is fragmented and ripe for disruption by tech-enabled, customer-centric platforms,” Al Goldstein, CEO of StoicLane and one of the investors in the round, said in a statement. and former U.S. Acting Comptroller of the Currency).

Mortgage 326

Mortgage Investors Investing Technology 326

Eyes on Housing

JANUARY 30, 2024

in the last quarter of 2023, amid persistently tight housing supply and elevated mortgage interest rates. in 2004, the homeownership rate is 3.5 The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.7% percentage points lower from the third quarter reading (66%). Read More ›

Mortgage 189

Mortgage 189

Eyes on Housing

OCTOBER 31, 2023

homeownership rate at 66% in the third quarter of 2023, amid persistently tight housing supply and elevated mortgage interest rates. in 2004, the homeownership rate is 3.2 The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. Compared to the peak of 69.2% percentage points lower and remains. Read More ›

Mortgage 183

Mortgage 183

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. NonBank Risk Multipliers Compared to Depositories.

Sellers 448

Sellers Mortgage Business Lending 448

Housing Wire

OCTOBER 28, 2022

Mortgage lender Homestar Financial Corporation on Friday announced appointing Gurp Bhandal as executive vice president of national production. Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi.

Retail 376

Retail Training Lending Mortgage 376

Housing Wire

FEBRUARY 13, 2023

Emerson will fill the seat on the board vacated by Farner and serve for a term expiring at Rocket’s annual meeting of stockholders in 2004 until his successor is elected. “Mr. Farner’s retirement from the board was not because of a disagreement with the company,” the SEC filing reads.

Real Estate 391

Real Estate Development Mortgage 391

Housing Wire

AUGUST 29, 2023

Mat Ishbia , chairman and chief executive officer at United Wholesale Mortgage (UWM), provided more than half of the mortgage company’s outstanding shares as a guarantee to secure loans ahead of the acquisition of the Phoenix Suns , according to a Bloomberg report. The executive acquired both teams in 2004.

Sellers 356

Sellers Mortgage Lending Marketing 356

Housing Wire

FEBRUARY 7, 2023

The NBA Board of Governors announced on Monday that it had approved the group, led by mortgage industry executive Mat Ishbia, to acquire the Phoenix Suns and Phoenix Mercury. The executive acquired both teams in 2004. But, amid a shrinking mortgage market, UWM had a market cap of about $7 billion as of Tuesday afternoon.

Valuation 328

Valuation Sellers Mortgage Marketing 328

Housing Wire

JUNE 8, 2021

It was barely a year ago that Angel Oak Mortgage and the rest of the non-QM lenders were holding on for dear life. a share, Angel Oak Mortgage would be valued at $537 million. Once it debuts on the Nasdaq Stock Exchange , Angel Oak Mortgage would be classified as a real estate investment trust (REIT). .” trillion. .

Mortgage 252

Mortgage Investing Finance Retail 252

Housing Wire

JANUARY 24, 2024

But there appears to be a light at the end of the tunnel as mortgage rates are expected to steadily decrease, allowing homeownership to be within reach for more Americans. Even as home prices began to decrease last year, mortgage rates remained high, leading both buyers and sellers to stay out of the housing market. by the end of 2024.

Insurance 464

Insurance Sellers Buyers Housing Market 464

Housing Wire

JULY 21, 2023

Lifting a ban on mortgage lenders providing down payment assistance (DPA) to Federal Housing Administration (FHA) borrowers would help underserved borrowers become homeowners, according to a paper published by the Urban Institute. Bush administration in 2004. “If Department of Veteran Affairs and the U.S.

Modernization 323

Modernization Insurance Sellers Real Estate 323

Housing Wire

MARCH 1, 2024

While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry. nationally since 2004 , according to industry financial statements.

Insurance 394

Insurance Property Taxes Real Estate Sellers 394

Housing Wire

DECEMBER 7, 2021

“That works out to nearly $178,000 available in tappable equity to the average homeowner with a mortgage before hitting a maximum combined loan-to-value ratio of 80%.”. Overall, mortgage holders withdrew more than $70 billion in equity in the third quarter, equivalent to just 0.8% will result in the tightest affordability since 2009.

Inventory 474

Inventory Mortgage Marketing 474

Housing Wire

OCTOBER 20, 2021

Less than one month after launching operations , the private holding group StoicLane – the backers of Interfirst Mortgage – has acquired control of the appraisal management company Lender’s Valuation Services (LVS). The team co-founded several companies and, since 2004, they claim to have created $4 billion in equity value to investors.

Appraisal 358

Appraisal Valuation Appraisal Process Finance 358

Appraisal Buzz

MARCH 29, 2022

The Real House Price Index (RHPI) increased by nearly 27%, the fastest growth in the RHPI since 2004, says Mark Fleming, chief economist at First American. percentage point increase in the 30-year, fixed mortgage rate compared the same timeframe a one year ago. There was a 21.7% annual increase in nominal house prices and a 0.7

Appraisal 150

Appraisal Mortgage 150

Housing Wire

JULY 17, 2023

Mozilo was a pioneer of the mortgage industry, though a deeply controversial figure. “Independent of how people outside of the industry may perceive this man, insiders know what an incredible force he was,” his son Eric Mozilo wrote in a LinkedIn post. Mozilo was president of the Mortgage Bankers Association (MBA) in 1991-1992.

Lending 359

Lending Mortgage Business Government 359

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

Appraisal 442

Appraisal Law Valuation Home Value 442

Housing Wire

APRIL 27, 2021

It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months. Finance of America said it puts the company on the path of becoming a “top-five performer” in the segment, which has grown to roughly 20% of the overall mortgage market.

Finance 369

Finance Lending Retail Renovations 369

Housing Wire

APRIL 17, 2023

The cost of title insurance has decreased 7% since 2004 thanks to industry investments in machine learning and artificial intelligence (AI). Some companies are also using AI to automatically route mortgage payoffs.

Insurance 446

Insurance Technology Real Estate Finance 446

Housing Wire

NOVEMBER 24, 2021

This week’s HW+ member spotlight features American Pacific Mortgage CEO Bill Lowman. Joining the company in 2002, American Pacific Mortgage named him president in 2004, and in 2016 he became CEO.

Housing Market 410

Housing Market Mortgage Marketing Business 410

Housing Wire

SEPTEMBER 22, 2022

Last year, Unlock and Salude Grade teamed up for their initial PLS offering, GRADE 2021-WL1 , a $153 million unrated securitization backed, in part, by Unlock-originated HEA contracts along with other mortgage assets acquired by the securitization trust. The interest rate for a 30-year, fixed-rate mortgage averaged 6.47% on Tuesday, Sept.

Marketing 383

Marketing Contracts Finance Home Value 383

Housing Wire

FEBRUARY 17, 2022

She went on to become the chief investment officer first at Prudential Investment Management and then at JP Morgan Fleming Asset Management before serving as executive vice president and chief business officer at Freddie Mac from August 2004 through the end of 2008. compared to the previous year, according to Inside Mortgage Finance.

Finance 316

Finance Investing Mortgage Valuation 316

Housing Wire

FEBRUARY 5, 2021

Kind Lending , national wholesale mortgage lender and second brainchild to mortgage veteran Stearns, announced that the lender originated $1 billion in the first six months of production – a feat that took Stearns first company, Stearns Lending , 15 years to accomplish. Glenn Stearns is back, and not just on television.

Lending 328

Lending Mortgage Marketing Housing Market 328

Housing Wire

DECEMBER 16, 2022

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021. Title insurance is a comprehensively regulated product.

Insurance 493

Insurance Government Legal Fees Real Estate 493

Housing Wire

MAY 9, 2022

billion in 2020, an increase that ALTA attributed to historic mortgage origination activity and the substantial increase in home values. Incredibly low mortgage rates (led) to an unprecedented increase in real estate transactions and substantially higher home values,” Diane Tomb, the CEO of ALTA said in a statement.

Insurance 316

Insurance Home Value Inventory Real Estate 316

Housing Wire

JUNE 21, 2022

billion in premiums, which ALTA attributed to historic mortgage origination activity and the substantial increase in home values. “A Creating a profitable and differentiated digital mortgage experience. Despite rising interest rates , higher home prices and a drop in refinance volume , the American Land Title Association recorded $5.89

Insurance 309

Insurance Home Value Contracts Marketing 309

Housing Wire

JANUARY 11, 2021

Rocket Homes Real Estate , a real estate affiliate of Rocket Companies , is being investigated by the Consumer Financial Protection Bureau (CFPB) for possibly violating the Real Estate Settlement Procedures Act (RESPA) when it charged fees for referring Quicken’s mortgage clients to real estate agents, according to officials.

Real Estate Agent 422

Real Estate Agent Real Estate Brokerage Law 422

Valuation Review

JANUARY 31, 2022

million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans, now Rocket Mortgage, originated from 2004 to 2009. The lawsuit, filed in 2011 in the Circuit Court of Ohio County, West Virginia, involves a potential payment of $9.7 Read on for more details about this court decision.

Appraisal 78

Appraisal Mortgage 78

Housing Wire

FEBRUARY 15, 2023

Arizona-based On Q Financial, founded in 2004, originated $2 billion last year in 46 states. As the deal did not involve the Celebrity company as a whole, On Q Financial did not have access to its balance sheet to check its cash position and financial conditions, according to Lamb. The company has a distributed retail platform, Lamb said.

Retail 268

Retail Loan Officers Contracts Business 268

Housing Wire

APRIL 1, 2022

When you look at how fixed-income developed, mortgage-backed securities were brand new at the time and I was right at the forefront of that work. CMOs or collateralized mortgage obligations were developed. Then, that led to REMICs — real estate mortgage investment conduits — and the market really took off from there.

Finance 362

Finance Development Business Tools 362

Housing Wire

NOVEMBER 9, 2020

One area in the mortgage and real estate industry that has been evolving for nearly two decades is digital closings. E-mortgage volume spikes. During the first six months of 2020, the Federal Housing Finance Agency reported that the volume of e-mortgages purchased by Fannie Mae and Freddie Mac spiked significantly.

Law 468

Law Legal Technology Real Estate 468

Housing Wire

FEBRUARY 7, 2022

Unison, launched in 2004, joins another California-based fintech competitor, Point , in pursuing efforts to tap the secondary market to create more liquidity for the financing of shared home-equity contracts. Mortgages have existed for 2,000 years, and there’s even a reference to them in Roman writings,” O’Hara said. “So,

Investing 287

Investing Marketing Contracts Investors 287

Empire Appraisal Group

MAY 13, 2021

Product risk—such as from mortgages with introductory periods, teaser rates, or balloon payments—comprised about 40% of the mortgage market between 2004 to 2006. More recently, those factors are now at only 2% of the mortgage market, according to Morgan Stanley.

Housing Market 78

Housing Market Realtors Inventory Finance 78

Housing Wire

MARCH 5, 2024

He has been with Carrington for nearly 20 years after joining as associate director and head of analytics in 2004. In the mortgage space, Carrington Mortgage Services provides nonqualified mortgages ( non-QM ), conventional mortgages and government-backed loans through the FHA , VA and USDA programs.

Retail 383

Retail Lending Government Business 383

Housing Wire

MAY 24, 2022

By 2004, they heard they could refinance, possibly get some cash out. Over 25 years, this one person has been a mortgage customer of six different mortgage companies, each saving him over $100 per month. There are fewer mortgage people doing all the work. Mortgages will be easier to do and complete. The survivors.

Mortgage 459

Mortgage Real Estate Agent Business Loan Officers 459

Housing Wire

APRIL 10, 2024

The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy , according to a report by Bloomberg. Both the mortgage industry and the title industry have not taken kindly to the news of the CFPB’s latest proposal.

Buyers 469

Buyers Insurance Mortgage Finance 469

Housing Wire

MARCH 11, 2024

In a competitive market where most borrowers are mortgage rate shopping, credit optimization can be the difference between closing a loan or losing out to an offer from a competitor. Much has changed in the mortgage market over the five years since our last major product launch.

Buyers 421

Buyers Tools Mortgage Lending 421