Housing Wire

MAY 20, 2022

Planet Financial Group, an integrated family of companies delivering origination, servicing, and asset management solutions, is the parent of Planet Home Lending. Founded in 2007, Planet Home Lending originated $28 billion in 2021, up 45% year over year, becoming the 31st biggest lender in the country, according to Inside Mortgage Finance.

Lending 406

Lending Finance Mortgage 406

Housing Wire

JULY 17, 2023

Mozilo avoided working with subprime loans until the late 1990s, when after noticing that his firm was losing business to competitors, Countywide embraced the type of subprime mortgage lending that eventually led to the housing crisis in 2008. And they did it at a massive scale. Mozilo settled with the SEC in October 2010 for $67.5

Lending 370

Lending Mortgage Business Government 370

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

Mortgage 469

Mortgage Lending Government Loan Officers 469

Housing Wire

MARCH 20, 2023

McGarry joined Guild in 1984 as a supervisor in internal audit and held several leadership positions until promoted to president in 2005 and CEO in 2007. Guild’s executive vice president David Neylan, who joined the company in 2007, will replace Schmidt as president. Terry Schmidt, Guild’s current president, is the successor.

Retail 370

Retail Loan Officers Mortgage Investing 370

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lending.

Loan Officers 462

Loan Officers Lending Real Estate Brokerage 462

Housing Wire

SEPTEMBER 13, 2022

California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire. . And I believe we went through a reset, the same way we did back in 2006 and 2007.

Mortgage 370

Mortgage Loan Officers Retail Lending 370

Housing Wire

SEPTEMBER 23, 2022

As bank regulators conduct a major CRA rulemaking, an honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers. So why would we extend it to IMBs? These are all laudable social objectives.

Lending 370

Lending Mortgage Insurance Finance 370

Housing Wire

OCTOBER 18, 2022

If appraisal values experience a pronounced downturn, it could indicate serious issues and lead to another crisis similar to 2007-08. Ravi Correa is Chief Financial Officer at Angel Oak Lending and responsible for all financial aspects for Angel Oak-related mortgage lending entities.

Mortgage 370

Mortgage Marketing Lending Finance 370

Housing Wire

NOVEMBER 24, 2021

During the past decade, as CRA-regulated banks withdrew from home mortgage lending, IMBs stepped up to become the dominant source of mortgage loans, doing a much better job than banks of lending to underserved borrowers [See CHLA’s 2021 IMB Report ]. CRA for IMBs is a solution in search of a problem. So what could have an impact?

Advertising 405

Advertising Lending Mortgage Law 405

Housing Wire

OCTOBER 31, 2022

Both these laws paved the way for more responsible lending and a more responsible consumer. However, total inventory levels today are below 2019, 2014, 2007, 2005, and 2000 levels because homeowners are in a good place financially. million in 2005 to over 4 million in 2007, with foreclosures and bankruptcies rising since then.

Law 515

Law Inventory Lending Mortgage 515

Eyes on Housing

JANUARY 27, 2022

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 77.8% of new home sales in the fourth quarter of 2021—the largest share since Q1 2008. The share increased 2.9 percentage points since Q4.

Finance 87

Finance Marketing Lending Mortgage 87

Housing Wire

MARCH 31, 2022

Based on present evidence, there is no expectation that fallout from a housing correction would be comparable to the 2007–09 Global Financial Crisis in terms of magnitude or macroeconomic gravity. The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place.

Housing Market 529

Housing Market Inventory Lending Marketing 529

Housing Wire

OCTOBER 5, 2023

That is the ultimate lever — it is really the only lever that the mortgage lending community has. I worked for a mortgage company from 2007 until 2013 — that’s where I learned the industry. SW: What’s the advantage of coming from the lending side as opposed to the tech side?

Technology 416

Technology Lending Mortgage Business 416

Housing Wire

MAY 7, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 487

Inventory Housing Market Marketing New Listings 487

Housing Wire

OCTOBER 23, 2020

Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. The lawsuit, brought initially in 2016, alleged that Guild knowingly originated and underwrote mortgages that didn’t meet the program requirements of the FHA.

Mortgage 487

Mortgage Government Retail Lending 487

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. Before that, she worked at Ballard Spahr in public finance and housing. It will not be her first time at Fannie Mae.

Human Resources 395

Human Resources Government Finance Mortgage 395

Housing Wire

APRIL 16, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. Today, even though sales are trending at 2007 levels, we are at 980,000 total active listings, per the last existing home sales. Even though the market stress has decreased lately, the assumption is that credit will only get tighter as the year grows.

Inventory 538

Inventory Housing Market Marketing New Listings 538

Housing Wire

FEBRUARY 10, 2022

This acquisition expands our footprint in the digital mortgage ecosystem, and we are thrilled to have them join us as we continue to develop innovative and streamlined technology solutions in the lending space.”. ReverseVision marks the second mortgage software provider acquired by CMS in the last couple of years.

Development 383

Development Modernization Technology Mortgage 383

Housing Wire

JANUARY 24, 2022

Non-QM mortgages include loans to the self-employed, such as small-business owners or gig workers, and other borrowers who fall outside the box of agency lending guidelines.). Six non-QM private-label securitizations backed by 4,600 loans valued at $2.8

Mortgage 369

Mortgage Lending Finance Housing Market 369

Housing Wire

MARCH 29, 2023

“Securitization of HELOCs had been a small part of the RMBS [residential mortgage-backed securities] market in the pre-financial crisis period, but issuance was still relatively commonplace until 2007,” states a fall 2022 DBSR Morningstar report focused on the securitization market for HELOCs.

Contracts 383

Contracts Lending Investing Investors 383

Housing Wire

OCTOBER 2, 2020

In the fallout of the housing collapse of 2007- 2009, the U.S. It grew from that point forward as the vacuum in lending enlarged as many large banks and other lenders failed — and those that survived reduced their footprint in mortgages. Nonbanks do not set the rules of lending. They sell all of their loans to investors.

Government 523

Government Investors Lending Mortgage 523

Housing Wire

JANUARY 18, 2023

While the housing market looks a lot more robust than it did during the financial crisis in 2007, and there are quality loans and stricter underwriting guidelines with the Dodd-Frank Wall Street Reform and Consumer Protection Act in place to prevent lenders’ predatory lending practices, consumers face affordability challenges, Brian Brown , Rocket (..)

Housing Market 446

Housing Market Marketing Insurance Mortgage 446

Eyes on Housing

OCTOBER 28, 2022

of the total in Q3 2022–the smallest share since the fourth quarter of 2007. NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% The share has dropped by nearly two-thirds since the spring of 2020.

Finance 183

Finance Lending Mortgage 183

Housing Wire

JUNE 14, 2023

The Federal Reserve (Fed) maintained the federal funds rate in the 5% to 5.25% range on Wednesday, following 10 consecutive hikes that brought rates to a level never seen since 2007. Policymakers also want to evaluate the impact of their actions on the economy so far.

Mortgage 383

Mortgage Real Estate Investors Marketing 383

Housing Wire

DECEMBER 3, 2021

She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. Compared to 2007 and 2008 there’s more due diligence in mortgage qualifying. The good news is that there’s a lot of cash in the market. HousingWire : What keeps you up at night and why?

Inventory 383

Inventory Loan Officers Clients Mortgage 383

Housing Wire

MAY 4, 2022

Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s. The only period when the median sale price was greater than house-buying power was from 2005 through 2007, indicating an overvaluation of housing, or a “housing bubble.”

Housing Market 383

Housing Market Finance Marketing Mortgage 383

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time. The goal for the lender is to have half of its production volume come from investment properties in 2023 — up from the current 10 to 15%.

Lending 395

Lending Real Estate Agent Loan Officers Retail 395

Housing Wire

JUNE 8, 2021

“During the 14 years prior to the ‘bubble years’ of 2004 to 2007, private capital volume typically accounted for approximately 10% of annual mortgage production. trillion. . ” The company will trade under the ticker symbol “AOMR.”

Mortgage 259

Mortgage Investing Finance Retail 259

Housing Wire

AUGUST 23, 2021

So while consumers with high FICO Scores drove the record number of mortgages, the lower Mortgage Credit Availability Index shows the emergence of a pattern seen during prior times of economic uncertainty: lending standards are tightening with higher score cut-offs at the lower end of the credit scale.

Mortgage 417

Mortgage Tools Design Lending 417

Housing Wire

APRIL 29, 2022

Connecticut-based mortgage servicer and lender Planet Home Lending has entered into an agreement to acquire assets from Homepoint ‘s delegated correspondent channel for $2.5 Founded in 2007, Planet Home Lending originated $28 billion in 2021, up 45% year-over-year, checking in as the 31st biggest lender in the U.S.,

Lending 383

Lending Finance Business Mortgage 383

Housing Wire

SEPTEMBER 22, 2022

The mortgage industry was on a “sugar high” in the last two years, added Lonnie Glessner, senior vice president of residential lending at Draper & Kramer Mortgage. Despite the market slowdown, it hardly resembles the subprime mortgage crisis of 2007, loan officers and mortgage brokers said.

Mortgage 383

Mortgage Loan Officers Inventory Retail 383

Housing Wire

AUGUST 30, 2022

Nor can we ever have a credit sales boom again with lending standards back to normal. Since we never had any exotic loan debt products in the system post-2010, you don’t see foreclosures and bankruptcies rising even as the expansion was moving along like what we saw in 2005, 2006, 2007 and 2008. million listings.

Inventory 383

Inventory New Listings Law Housing Market 383

Housing Wire

NOVEMBER 10, 2020

So when that happens, you don’t originate, you don’t lend at par for something at 88. Newer loan officers are scared of the business because they think it has to do with predatory lending,” said Yonce. In January, non-QM loans were arguably the hottest product on the mortgage market and were on a high not seen since 2007.

Business 427

Business Mortgage Investors Loan Officers 427

Housing Wire

OCTOBER 7, 2022

We understand the nature of the concerns [with Credit Suisse], but the current situation is night and day from 2007 as the balance sheets are fundamentally different in terms of capital and liquidity, and we struggle to see something systemic.”. “We believe the U.S. Credit Suisse through its subsidiary DLJ Mortgage Capital Inc.,

Supply Chain 395

Supply Chain Mortgage Investors Business 395

Housing Wire

SEPTEMBER 15, 2023

That is how the director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra , began his remarks marking the 15th anniversary of the collapse of Lehman Brothers , the first proverbial domino to fall in the financial crisis of 2007-08 that ultimately gave rise to the establishment of the CFPB.

Law 406

Law Lending Investing Insurance 406

Housing Wire

JULY 28, 2021

Becoming a more mainstream financial solution for appropriate clients is, of course, a major interest of the reverse mortgage industry as it continues to seek out fruitful new educational partnerships to communicate how the product has evolved since the 2007-2008 financial crisis.

Business 294

Business Mortgage Clients Marketing 294

Robinson Appraisal Group

NOVEMBER 16, 2018

This form has been a requirement since 2009 as a tool to establish the increase, decrease or stabilization of markets in the aftermath of the housing crisis occurring between 2007 – 2010 due to sub prime lending practices. So what is the 1004MC form?

Tools 78

Tools Appraisal Lending Inspection 78