Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

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Mortgage Lending Technology Modernization 331

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 361

Mortgage Clients Retail Marketing 361

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. That’s 20 basis points higher than the international standard.

Mortgage 335

Mortgage Marketing Lending Finance 335

Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011. The holding company will invest in finance, insurance, and real estate businesses. The originations went from $14.1

Mortgage 296

Mortgage Investors Investing Technology 296

Housing Wire

DECEMBER 23, 2021

A former employee alleged that an executive at Atlanta-based mortgage lender Equity Prime Mortgage (EPM) sexually assaulted her, and executives fostered a culture of widespread sexual harassment at the firm. Former mortgage loan processor Tiar McCart claims, in a suit filed in the U.S.

Mortgage 394

Mortgage Human Resources Insurance Lending 394

Housing Wire

JULY 27, 2021

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

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Insurance Finance Government Mortgage 424

Housing Wire

MARCH 10, 2023

This report is important to independent mortgage banks (like Atlantic Bay Mortgage ) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers. Another 2008? So, what about the current downturn in mortgage volume for IMBs? Could this be another 2008?

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Mortgage Business Insurance Marketing 343

Housing Wire

OCTOBER 25, 2021

According to a source, the expectation from the mortgage industry is that the governor will sign the bill – if so, it will become law 90 days later. Presented by: Angel Oak Mortgage Solutions. The bill has received strong opposition from much of the mortgage industry, which these days is dominated by nonbanks.

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Law Lending Insurance Mortgage 420

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 365

Mortgage Loan Officers Lending Business 365

Housing Wire

NOVEMBER 28, 2022

The article was striking to me because it was not long ago that members of a previous administration proposed defining nonbank mortgage lenders as a systemically important financial institution (SIFI) risk as a sector. This entire discussion should be extremely concerning to all in the mortgage industry, especially the IMBs.

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Lending Mortgage Insurance Investors 336

Housing Wire

JUNE 9, 2021

He’s right and we disagree with the Community Home Lenders Association ’s assertion that such an affirmative obligation should not also extend to independent mortgage companies. Bank CRA obligations cover far more than their mortgage lending. They are bound to do more.

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Lending Development Government Finance 441

Housing Wire

MARCH 15, 2023

One day after Signature Bank collapsed , an affiliate of loanDepot moved $225 million of cash balances to a large money center bank, the mortgage company disclosed Wednesday morning. The Company still maintains fully insured custodial deposit accounts at Signature,” the document says. Both expire in December 2023.

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Insurance Investors Real Estate Mortgage 331

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.

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Lending Mortgage Insurance Finance 328

Housing Wire

JANUARY 5, 2024

Lower interest rates make mortgages more accessible, paving the way for more buyers into the market and potentially resulting in increased demand and higher prices. Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices.

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Real Estate Agents Marketing Sellers 428

Housing Wire

OCTOBER 15, 2020

” In a HousingWire panel on Tuesday, Rohit Gupta, CEO and president of Genworth Mortgage Insurance , and Tom Wind, executive vice president of consumer lending at U.S. Find out how mortgage data can both reveal and solve lender pain points during these uncertain times. Presented by: First American.

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Mortgage Government Lending Insurance 386

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 390

Mortgage Loan Officers Finance Investors 390

Housing Wire

JULY 28, 2021

In an alarming move, Ginnie Mae has unleashed a plan that, if implemented, will significantly alter the mortgage markets and raise costs on loans that the majority of first-time homebuyers and minority homebuyers depend on. Countrywide led the market in adverse selection and poor lending practices. They are the insurance company.

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Insurance Lending Mortgage Investors 404

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. The modules cover some mortgage-related topics, but there are also topics that pertain to other facets of working at a bank.

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Training Loan Officers Lending Mortgage 352

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 billion volume of the previous year, per the mortgage data platform Modex. And he hasn’t done so voluntarily. billion in 2022, down 41.3%

Insurance 333

Insurance Mortgage Clients Lending 333

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? While the FHA loan allows a borrower to put less money down and doesn’t come with LLPAs, that flexibility comes with a high upfront and annual costs in the form of mortgage insurance premiums (MIP).

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Loan Officers Insurance Mortgage Real Estate Agent 346

Housing Wire

MARCH 14, 2023

Silicon Valley Bank collapsed last week, the biggest bank failure since Washington Mutual in 2008. It will be hard to be completely confident in the near term that Sunday’s intervention will halt the pressure on smaller banks, who play a large macroeconomic role and could become considerably more conservative in their lending.”

Transportation 338

Transportation Housing Market Insurance Lending 338

Housing Wire

APRIL 8, 2022

housing market crashed in 2008. However, this approach depends on assumptions of perfect markets and fair lending, which are not automatic. Unlike the capital investment and mortgage origination markets, the guarantor and securitization markets need assistance to remain efficient, fair, and resilient. If the U.S. housing market.

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Government Lending Finance Housing Market 505

Housing Wire

SEPTEMBER 28, 2023

JA: I was going back through some old PRMG stuff and they had “the five tenets of mortgage lending success” and it was: product, pricing, compensation, marketing, and fulfillment. Of course, if I had to go back and pick a point in time that really changed mortgage data, it was the 2008 mortgage crisis and the regulations that followed.

Technology 401

Technology Loan Officers Lending Business 401

Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

Insurance 233

Insurance Mortgage Housing Market Government 233

Housing Wire

AUGUST 20, 2021

In 2016, Brad Sullivan’s Mortgage Financial Services ruled the roost in housing with a rank of 733. And Nationwide Mortgage Bankers posted an insane average three-year growth rate of 16,396% in 2020. 5000 since HousingWire’s earliest days (check out the HW’s 2008 Inc. Top Verticals. Real Estate. Tech & Solutions. 5000 map.”.

Real Estate 441

Real Estate Realty Brokerage Mortgage 441

Housing Wire

MAY 21, 2021

The Community Home Lenders Association can’t speak for other nonbank sectors — but applying CRA to independent mortgage bankers seems like a solution in search of a problem. Therefore, the mortgage questions federal policymakers should be asking are: 1) Why do IMBs have a much better mortgage access to credit record than banks? (2)

Lending 311

Lending Mortgage Design Insurance 311

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%. didn’t go into recession until 2008. This line has been truly epic.

Inventory 483

Inventory Housing Market Marketing New Listings 483

Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

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Legal Insurance Law Mortgage 305

Housing Wire

JANUARY 12, 2022

Redwood, through its Sequoia Mortgage Trust (SEMT) conduit, brought to the market a total of nine securitization deals in 2021 backed by 4,705 loans valued at nearly $4.2 The first securitization deal of 2022 issued through Redwood’s Sequoia conduit (SEMT 2022-1) involved a loan pool of 751 mortgages valued at $687.2

Marketing 395

Marketing Government Construction Mortgage 395

Housing Wire

MARCH 14, 2023

For now, however, they say lenders in the adjacent mortgage banking market should take some prudent steps to guard against the worst of the downside risk — zeroing in on bank-sponsored warehouse lines utilized by independent mortgage banks (IMBs). CHLA serves small and mid-sized independent mortgage banks.

Investing 349

Investing Mortgage Sellers Marketing 349

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. About 40% of his business came from refis in the summer of 2021 even when his focus was on purchase mortgages his entire career. The Mortgage Bankers Association projects that of $2.4

Housing Market 415

Housing Market Marketing Brokerage Real Estate 415

Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. residential mortgage-backed securities (RMBS) operations.

Supply Chain 361

Supply Chain Mortgage Investors Business 361

Eppraisal

APRIL 21, 2023

Not only do we fear losing deposits, we also worry about the effect of failure on lending, credit and their costs. Depositors are compensated -- in part or in full -- by the Federal Deposit Insurance Corporation (FDIC) or, in the case of a failed credit union, the National Credit Union Administration (NCUA).

Lending 28

Lending Housing Market Marketing Real Estate 28

Housing Wire

MARCH 26, 2024

In recent congressional testimony , Mortgage Bankers Association (MBA) chief economist Mike Fratantoni pointed out that the housing market is now extremely supply challenged. But investment property loans also aren’t subject to the same protections as [traditional residential mortgages], meaning they can have prepayment penalties.

Investors 438

Investors Marketing Inventory Real Estate 438

Housing Wire

FEBRUARY 8, 2022

Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We But we’re having a hard time reaching out to them,” he said during a panel at the annual Residential Mortgage Servicing Rights Forum held in New York City in October. Some are especially haunted by the Great Recession between 2008 and 2011.

Law 353

Law Mortgage Legal Finance 353

Housing Wire

MARCH 7, 2022

A deed transfer often includes the new owner ensuring they are the property holder through title insurance. between signing a contract to buy a home and purchase closing is 50 days, according to a September 2021 report from ICE Mortgage Technology. But not a single Florida title company would touch the Gulfport sale. “A

Real Estate 467

Real Estate Law Inspection Agents 467

McKissock

MAY 30, 2023

Interest rates According to Freddie Mac, interest rates increased after a two-week decrease, with the average 30-year fixed-rate mortgage rising from 6.35% to 6.39% between May 11 and 18. The first quarter of 2023 saw substantial mortgage rate fluctuations, with the 30-year FRM ranging from a low of 6.09% to a high of 6.73%.

Real Estate 73

Real Estate Construction Appraisal Inventory 73