Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. If buyers feel they are paying top dollar due to increasing mortgage rates, they want their new home to be in move-in-ready condition.

Inventory 427

Inventory Lending Real Estate Housing Market 427

Housing Wire

NOVEMBER 3, 2023

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they promote reinvestment activities for entities including mortgage companies. In 1977, banks held 74% of outstanding mortgage debt. By 2007, this share had declined to just 28%.

Law 420

Law Lending Investing Mortgage 420

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. The post Point Mortgage Corp.

Mortgage 370

Mortgage Loan Officers Retail Lending 370

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 370

Lending Mortgage Business Government 370

Housing Wire

OCTOBER 18, 2022

To say that mortgage lenders are facing challenging times would be a considerable understatement. The substantial increases this year present challenges in the mortgage sector, as the note rates produced can become illiquid if not hedged. The last time that the rate reached 3.25% was in 2005 — and we all know how that story unfolded.

Mortgage 370

Mortgage Marketing Lending Finance 370

Housing Wire

MARCH 20, 2023

Retail lender Guild Mortgage announced Monday that Mary Ann McGarry is retiring from the CEO position in late June, remaining on the California-based lender’s board of directors after retirement. McGarry has also led the lender through several acquisitions of late, including Cherry Creek Mortgage , Inlanta Mortgage and Legacy Mortgage.

Retail 370

Retail Loan Officers Mortgage Investing 370

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 410

Lending Finance Mortgage 410

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 491

Mortgage Government Retail Lending 491

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 466

Loan Officers Lending Real Estate Brokerage 466

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 320

Mortgage Investing Finance Retail 320

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers.

Lending 370

Lending Mortgage Insurance Finance 370

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 384

Mortgage Loan Officers Inventory Retail 384

Housing Wire

AUGUST 23, 2021

As the economic recovery from COVID-19 continues, conflicting trends in mortgage credit availability have emerged. The Federal Reserve Bank of New York reports that the number of mortgages reached its highest level to date in 2020, with $1.2 trillion in new home loans in the fourth quarter of 2020 alone. this June. .

Mortgage 421

Mortgage Tools Design Lending 421

Housing Wire

NOVEMBER 24, 2021

The state of New York recently adopted legislation applying the Community Reinvestment Act (CRA) to nonbank mortgage lenders, also known as independent mortgage banks (IMBs). But, as the last decade shows, it has not worked very well for mortgage loans (and banks often meet CRA requirements simply by buying IMB-originated loans).

Advertising 409

Advertising Lending Mortgage Law 409

Housing Wire

MAY 7, 2023

We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell. Mortgage rates fell last week as we started the week at 6.73%, got as low as 6.43% to end the week at 6.5%. In 2007, when sales were down big, total active listings peaked at over 4 million.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

OCTOBER 5, 2023

Sarah Wheeler: The cost to originate a mortgage is higher than ever, while companies have invested more in technology than ever before. I was a mortgage lender and I saw firsthand the shortcomings of the various kinds of software verticals. I worked for a mortgage company from 2007 until 2013 — that’s where I learned the industry.

Technology 421

Technology Lending Mortgage Business 421

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%. This is one reason housing inventory has taken so long to bottom out.

Inventory 538

Inventory Housing Market Marketing New Listings 538

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. Both these laws paved the way for more responsible lending and a more responsible consumer. Today, we are at 1.25

Law 517

Law Inventory Lending Mortgage 517

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

Housing Market 450

Housing Market Marketing Insurance Mortgage 450

Housing Wire

MARCH 31, 2022

” The notion that educated homeowners with positive cash flow — who aren’t showing any stress in making their low payments thanks to historically low mortgage rates — would sell at 50%, 60% to 70% off current values and go back to renting, doesn’t seem realistic. Home prices have grown 108.3%

Housing Market 530

Housing Market Inventory Lending Marketing 530

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

JANUARY 24, 2022

Since then, another nine private-label residential mortgage-backed securities (RMBS) offerings valued at $4.6 That brings the number of private-label transactions over the first three weeks of January to a total of 19 — backed by mortgage pools valued in aggregate at some $10 billion. billion have unfolded.

Mortgage 370

Mortgage Lending Finance Housing Market 370

Housing Wire

MARCH 29, 2023

Homeowners collectively nationwide now have more than $10 trillion in tappable equity (equity beyond a 20% cushion) tied up in their properties, according to the Black Knight Mortgage Monitor. The Towd Point deal involved HELOCs as well as CES loans originated by nonbanks Rocket Mortgage and Spring EQ.

Contracts 384

Contracts Lending Investing Investors 384

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

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. Industry experts believe mortgage rates will remain high compared to last year. However, at Mortgage News Daily , mortgage rates were higher, at 6.98%.

Mortgage 384

Mortgage Real Estate Investors Marketing 384

Housing Wire

JULY 28, 2021

This is according to John Lunde, president of Reverse Market Insight (RMI) during a presentation at the National Reverse Mortgage Lenders Association (NRMLA) Virtual Summer Meeting this month. Reverse mortgage penetration remains stubbornly low. Nobody wants to see their market share go down,” Lunde says.

Business 295

Business Mortgage Clients Marketing 295

Housing Wire

OCTOBER 2, 2020

In the fallout of the housing collapse of 2007- 2009, the U.S. There are a few lessons to remember here: Nonbanks did not create the unsustainable mortgage market. This was the beginning of the more significant growth of nonbanks in the mortgage industry. Nonbanks do not set the rules of lending.

Government 525

Government Investors Lending Mortgage 525

Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Housing Market 384

Housing Market Finance Marketing Mortgage 384

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. There was so much information to absorb and retain.

Inventory 384

Inventory Loan Officers Clients Mortgage 384

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 88

Finance Marketing Lending Mortgage 88

Housing Wire

OCTOBER 7, 2022

Even so, Credit Suisse is pursuing a restructuring effort that is expected to result in asset sales that will affect global markets to a degree, including the private-label mortgage securities market in the United States — where the European lender also operates. “Oh residential mortgage-backed securities (RMBS) operations.

Supply Chain 397

Supply Chain Mortgage Investors Business 397

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. So when that happens, you don’t originate, you don’t lend at par for something at 88. Self-employed borrowers take advantage of the tax laws,” said Dodson, who runs Mortgage Capital Advisors.

Business 432

Business Mortgage Investors Loan Officers 432

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 190

Finance Lending Mortgage 190

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. After the 2008 mortgage meltdown, JVM let go of all its loan originators and trained its employees to target the jumbo loan market in the San Francisco Bay area instead.

Lending 397

Lending Real Estate Agent Loan Officers Retail 397

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 Homepoint was the 11th biggest residential mortgage lender in the country last year, originating $96 billion in residential mortgages, up 55.2%

Lending 384

Lending Finance Business Mortgage 384

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

AUGUST 30, 2022

Nor can we ever have a credit sales boom again with lending standards back to normal. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime. Case in point, purchase application data is already below 2008 levels today.

Inventory 384

Inventory New Listings Law Housing Market 384