Housing Wire

MARCH 6, 2024

They also come as the mortgage industry is making efforts to adopt artificial intelligence solutions to improve productivity and better assist customers. Follette, who joined Pennymac 12 years ago, became the company’s senior managing director and chief mortgage operations officer in 2022.

Technology 414

Technology Retail Contracts Tools 414

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right. .

Mortgage 370

Mortgage Clients Retail Marketing 370

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. Movement filed a lawsuit in a U.S.

Contracts 414

Contracts Legal Mortgage 414

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

Inventory 442

Inventory Housing Market Marketing Mortgage 442

Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.

Legal 377

Legal Contracts Lending Loan Officers 377

Housing Wire

APRIL 7, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. In 2008, as the financial crisis was unfolding, he landed a job at secretive big data startup Palantir , where he learned that the $10 trillion mortgage industry was still in the Stone Age technologically. Blend Labs CEO Nima Ghamsari is a betting man. He was right.

Mortgage 382

Mortgage Technology Clients Insurance 382

Cleveland Appraisal Blog

OCTOBER 14, 2021

Others have expressed concerns that we are headed for a housing crash, like in 2008. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008.

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Inventory Market Value Appraisal Contracts 243

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.

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Appraisal Law Valuation Home Value 414

Housing Wire

MAY 13, 2022

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. Mortgage Industry and Blockchain: Early but Important Days.

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Contracts Technology Architecture Government 346

Housing Wire

SEPTEMBER 20, 2022

Delray Beach, Florida-based mortgage lender ResMac, Inc. It’s all part of a strategy to not only survive the most challenging mortgage market in decades, but to come out of it stronger. It’s all part of a strategy to not only survive the most challenging mortgage market in decades, but to come out of it stronger.

Marketing 370

Marketing Investors Retail Mortgage 370

Housing Wire

OCTOBER 21, 2022

2022 and 2023 will not mirror the conditions of 2008 and beyond. But in combination with uncertainty about interest rates and the overall economy, the fact is that there will be industry contraction into 2023. I’ll begin by saying I don’t know anyone who believes 2022 or 2023 will look like 2008 or that era. Far from it.

Marketing 284

Marketing Business Agents Investing 284

Housing Wire

AUGUST 18, 2020

Periods of economic contraction, as witnessed during the 2008 financial crisis, typically result in a reduction in the supply of credit as lenders adapt to deteriorating market conditions reflected by higher losses on loan products and a reduction in consumer demand for loans.

Contracts 433

Contracts Marketing Business Mortgage 433

Housing Wire

OCTOBER 1, 2022

Mortgage interest rates have risen quickly in the past few months further eroding affordability. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. In 2008, 49% of Realtors had a client with a distressed sale, today it is only 1%.

Realtors 393

Realtors Housing Market Marketing Buyers 393

Housing Wire

JULY 13, 2022

June was a rough month for jumbo-mortgage securitizations, with only two private-label offerings brought to market valued at roughly $821 million. The two jumbo-loan deals that did make it out of the gate last month were issued by Rocket Mortgage and J.P. Morgan Chase via the Rocket Mortgage Trust and J.P. million and the J.P.

Mortgage 393

Mortgage Market Value Marketing Contracts 393

Housing Wire

DECEMBER 9, 2020

Mnuchin , have raised a $124 billion claim against the federal government, essentially arguing that the FHFA, which was created in the wake of the 2008 housing crash, acted illegally when it took several actions to prevent Fannie and Freddie from collapsing. home loans. home loans.

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Government Legal Investing Law 404

Housing Wire

DECEMBER 11, 2020

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. When the pandemic forced a shutdown of the economy, Congress gave blanket permission for any affected consumer to place their mortgage in forbearance,” Schwartz said.

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Lending Contracts Investors Technology 404

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 404

Marketing Mortgage Investors Legal 404

Appraisal Buzz

MARCH 14, 2022

Appraisals for mortgage finance transactions are subject to many levels of scrutiny and review. What would happen on purchase transactions if the Purchase Contract were not provided to the appraiser? Could that contract be construed as an influence on value? To hit the purchase price, that’s why! Boilerplate Comments.

Appraisal 397

Appraisal Contracts Marketing Lending 397

Housing Wire

OCTOBER 28, 2021

Just a few years ago, we were talking about shrinking the GSEs’ footprint, giving GSE charters to vertically integrated Wall Street banks, and giving these same Wall Street banks access to the GSEs’ Common Securitization Platform, which would have enabled them to dominate mortgage markets. Let’s keep up the momentum.

Mortgage 458

Mortgage Contracts Insurance Realtors 458

Housing Wire

APRIL 7, 2023

When this back and forth was unfolding, mortgage demand rose 2.9% compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%. Let’s keep the 2008 market where it belongs — in the past.

Retail 393

Retail Real Estate Clients Modernization 393

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. In the run-up to the 2008 market crash, appraisers were overworked and took on more than they reasonably could handle. We analyze and report.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

JULY 12, 2022

The loan quality of mortgage pools backing private-label securitization (PLS) deals has remained solid this year through the end of June, even as deal volume slowed appreciably between the first and second quarters. . For the final week of June, the conforming 30-year fixed mortgage hovered in the 5.7%

Mortgage 370

Mortgage Marketing Contracts Real Estate 370

Housing Wire

NOVEMBER 18, 2022

When the FHLB Act was adopted in 1932, membership was limited to mortgage lenders (e.g., In 2008, membership was again expanded by Congress to include Community Development Financial Institutions (CDFIs), and finally, in 2015, to include non-federally insured credit unions.

Legal 370

Legal Law Insurance Finance 370

Housing Wire

FEBRUARY 24, 2024

Mortgage rates have risen recently but they could be much worse than they are today. Mortgage rates and the 10-year yield The 10-year yield is the key for housing in 2024. The most important data line for me, along with mortgage rates , is jobless claims data because I value labor data over inflation. That hasn’t happened.

Mortgage 483

Mortgage Inventory New Listings Housing Market 483

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. Evolution of the LO Comp rule In the wake of the housing crash in 2008, the CFPB created new rules that reshaped how loan officers were compensated.

Loan Officers 450

Loan Officers Clients Law Legal 450

Housing Wire

OCTOBER 26, 2020

Many of the current leaders in servicing experienced the housing crisis of 2008, and they clearly recognize the importance of being prepared. Servicers are reviewing their top performers as well as those outside of their current network to determine who can best support the additional volume.

Technology 382

Technology Investors Business Contracts 382

Appraisal Today

JULY 21, 2023

NOTE: Please scroll down to read the other topics in this long blog post on changing real estate market, interest rate forecasts, non lender appraisals, foreclosures way down from 2008, Freddie and ANSI, unusual homes, mortgage origination stats, etc. Varies widely around the country. == Mortgage applications increased 1.1

Appraisal 88

Appraisal Real Estate Contracts Business 88

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. It looks like the change is starting because of increasing mortgage interest rates. Computer modeling did not predict the 2008 crash. 8-minute podcast.

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Appraisal Contracts Real Estate Mortgage 52

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time. Other indices showed even higher mortgage rates. What to expect with the Fed ?

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Appraisal Today

JANUARY 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, and types of bias, Scams on black homes, unusual homes, mortgage origination stats, etc. An example of this in real estate appraisal is the purchase and sale contract. January 17, 2024) — Mortgage applications increased 10.4

Appraisal 72

Appraisal Contracts Real Estate Architecture 72

Housing Wire

JUNE 21, 2022

Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the latest Mortgage Bankers Association (MBA) survey for the week ending June 17. Rates for mortgage loans were strongly impacted by tightening monetary policy to combat rising inflation.

Mortgage 450

Mortgage Contracts 450

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

Reconsideration of Value 69

Reconsideration of Value Appraisal Real Estate Insurance 69

Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = Appraisal Business Tips from Ann O’Rourke Why is the residential lender business so slow now, as compared with 2008?

Appraisal 52

Appraisal Business Contracts Real Estate 52

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Appraisal Today

MARCH 15, 2024

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Mortgage rates were 18%+. Mortgage applications increased 7.1 By Dallas T.

Appraisal 68

Appraisal Inspection Modernization Business 68

Appraisal Today

OCTOBER 20, 2023

NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more! million 3 bedrooms, 2 baths, 2,281 sq.ft, built in 2008, 21.23 Mortgage applications decreased 6.9

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Appraisal Design Contracts Inspection 70

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