Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. SVB’s mortgage origination volume reached $2.4

Mortgage 370

Mortgage Loan Officers Insurance Business 370

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. If this change were made, the FHA program would join the other government-insured programs offered by the U.S.

Modernization 370

Modernization Insurance Sellers Real Estate 370

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 396

Mortgage Investors Investing Technology 396

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

NOVEMBER 13, 2023

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

Insurance 414

Insurance Real Estate Agents Real Estate Agent 414

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 370

Mortgage Marketing Lending Finance 370

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.

Mortgage 403

Mortgage Lending Technology Modernization 403

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?

Mortgage 370

Mortgage Business Insurance Marketing 370

Housing Wire

JUNE 30, 2023

Indian Land, South Carolina-based lender Movement Mortgage has agreed to pay $23.75 million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. Attorney Carla Freedman said in a statement.

Government 382

Government Insurance Mortgage Legal 382

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

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.

Insurance 370

Insurance Investors Real Estate Mortgage 370

Housing Wire

MARCH 27, 2023

At a time of high mortgage rates and inflation, the federal government — along with government-sponsored enterprises — is understandably under pressure to lower costs and make homeownership more accessible. Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated.

Insurance 302

Insurance Government Home Value Real Estate 302

Housing Wire

JANUARY 2, 2024

New York-based nonbank mortgage lender RealFi (formally known as Residential Home Funding Corp. However, two former employees said the company communicated it’s shutting down its mortgage lending business. The FDIC was the receiver of Washington Mutual Bank after it failed during the 2008 financial crisis.

Loan Officers 424

Loan Officers Lending Mortgage Insurance 424

Housing Wire

AUGUST 22, 2023

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. Elevated mortgage rates and low inventory As of August 17, mortgage rates surpassed 7% as U.S. bond yields hit their highest level since 2008. The National Association of Realtors (NAR) suggested a 2.2%

Buyers 370

Buyers Inventory Realtors Housing Market 370

Housing Wire

MARCH 18, 2022

When Curtis Mangus of Premier Mortgage Resources in Meridian, Idaho looked into pivoting into reverse after serving decades in the traditional mortgage business, he asked his managing partner at the lender about its reverse mortgage department. You are the reverse mortgage department,” he said. The partner smiled. “

Real Estate 516

Real Estate Real Estate Agent Mortgage Agents 516

Housing Wire

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). Million — [Tampa, Florida].

Mortgage 393

Mortgage Marketing Finance Insurance 393

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Insurance 381

Insurance Investing Brokerage Mortgage 381

Housing Wire

MAY 5, 2021

Genworth Holdings announced an initial public offering for its mortgage insurance arm, Genworth Mortgage Holdings, after a long-delayed $2.7 Genworth Mortgage Holdings also announced it will rebrand to Enact Holdings. In 2008, Blackstone Group acquired a 46% stake in Bayview, which now has $14.9 billion in 2019.

Insurance 376

Insurance Investing Real Estate Finance 376

Housing Wire

OCTOBER 4, 2022

Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. billion in title insurance premium volume, only slightly down from the $6.54

Marketing 414

Marketing Insurance Real Estate Housing Market 414

Housing Wire

FEBRUARY 10, 2023

Nonbank mortgage lender and servicer Mr. Cooper has signed a definitive agreement to acquire the investment management firm Roosevelt Management Company, LLC., The private New York-based company, founded in 2008, manages third-party capital on behalf of insurance companies, pension funds, hedge funds and other investors.

Investing 370

Investing Investors Insurance Government 370

Housing Wire

AUGUST 1, 2023

With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target. Cooper announced it completed the acquisition of Roosevelt and its affiliated subsidiaries, which include a registered investment advisor and licensed mortgage servicing rights (MSR) owner. of the total).

Investors 370

Investors Design Insurance Investing 370

Housing Wire

SEPTEMBER 22, 2022

The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 3%-3.25%, bringing it back to a level last seen in March 2008. The decision was expected by most Fed observers , and comes as mortgage lenders and real estate brokerages struggle to adjust to a Fed-driven slowdown of the housing market. .

Real Estate 392

Real Estate Housing Market Mortgage Brokerage 392

Housing Wire

AUGUST 8, 2022

Cenlar FSB , the nation’s second-largest mortgage servicer and largest sub-servicer, has installed new leadership following the retirement of its president, CEO and chairman Greg Tornquist. Tornquist served the company for 35 years and became CEO in 2008. year over year, according to Inside Mortgage Finance data.

Human Resources 370

Human Resources Legal Finance Insurance 370

Housing Wire

NOVEMBER 18, 2022

When the FHLB Act was adopted in 1932, membership was limited to mortgage lenders (e.g., savings and loan associations, savings banks, and cooperative banks) and insurance companies. It was not until 1989 that Congress expanded membership to all federally insured depository institutions.

Legal 370

Legal Law Insurance Finance 370

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 370

Mortgage Loan Officers Lending Business 370

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).

Loan Officers 370

Loan Officers Insurance Mortgage Real Estate Agent 370

Housing Wire

JANUARY 13, 2021

have taken advantage of its mortgage relief provisions. Thanks in large part to these programs, the sort of housing market crisis of the 2008-2009 Great Recession has thus far been avoided. How the National Flood Insurance Program’s recent extension provides stability for the housing market. in January 2021.

Mortgage 457

Mortgage Investors Technology Housing Market 457

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. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgage 393

Mortgage Loan Officers Finance Investors 393

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.

Law 433

Law Lending Insurance Mortgage 433

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.

Legal 399

Legal Insurance Law Mortgage 399

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems. last year.

Loan Officers 393

Loan Officers Real Estate Agent Real Estate Finance 393

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 stepped into the void created as some large banks retreated from the mortgage market.

Lending 502

Lending Development Government Finance 502

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.

Real Estate 433

Real Estate Agents Marketing Sellers 433

Housing Wire

FEBRUARY 1, 2021

When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship. Presented by: Motto Mortgage. He has also served on several presidential mortgage fraud task forces and as a member of the Administrative Conference of the United States.

Legal 450

Legal Law Brokerage Finance 450

Housing Wire

MARCH 14, 2023

Silicon Valley Bank collapsed last week, the biggest bank failure since Washington Mutual in 2008. Department of Treasury , the Fed and the Federal Deposit Insurance Corporation announced the approval of interventions in Silicon Valley Bank and Signature Bank. A liquidity crisis hit American banks amid a deposit run.

Transportation 370

Transportation Housing Market Insurance Lending 370

Housing Wire

MAY 3, 2021

Should the FHFA be appointed receiver for the government-sponsored entities under the Housing and Economic Recovery act of 2008 (HERA), the so-called “living wills” would facilitate a “rapid and orderly resolution” from conservatorship, the agency said Monday.

Government 404

Government Finance Development Design 404

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