Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. “We FHFA was comfortable approving VantageScore 4.0 that use trended credit bureau data.

Legal 404

Legal Mortgage Contracts Insurance 404

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

Insurance 380

Insurance Mortgage Development Home Value 380

Housing Wire

AUGUST 3, 2022

South Carolina-based Movement Mortgage has hired two executives away from rival Fairway Independent Mortgage to boost the growth and development of its distributed retail sales team. The new hirings come amid a challenging landscape for mortgage companies due to surging rates and fears of a recession in the U.S.,

Development 382

Development Retail Mortgage Finance 382

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 369

Mortgage Loan Officers Retail Training 369

Housing Wire

OCTOBER 15, 2020

In 2013, Thuan Nguyen was working out of his chaotic office in the heart of Silicon Valley. Nguyen, who emigrated from Vietnam to the United States and fell into the mortgage business about 14 years ago after leaving an unsatisfying career in finance, has capitalized on the historic mortgage boom like few others.

Brokerage 404

Brokerage Mortgage Technology Development 404

Housing Wire

APRIL 21, 2021

Wisconsin-based Fairway Independent Mortgage Corp. One of Fairway’s electronic signs at the stadium reads “Home.com, by Fairway Independent Mortgage Corporation.” Headquartered in Madison, Wisconsin, Fairway is a full-service mortgage lender with more than 400 branches nationwide. The company funded $65.8

Mortgage 343

Mortgage Brokerage Contracts Development 343

Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S.

Development 314

Development Appraisal Property Appraisal Insurance 314

Housing Wire

AUGUST 25, 2021

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. But the mortgage industry and HUD don’t see eye-to-eye on how that decision should be taken into account.

Legal 391

Legal Insurance Development Mortgage 391

Housing Wire

JUNE 28, 2023

Founded in 2013 by Brew Johnson, Brett Crosby and Alex Perelman, Peer Street developed a marketplace connecting lenders and borrowers seeking capital to investors looking for real estate-related debt. Peer Street, which has a subsidiary mortgage lender and servicer, has originated only $5.4 million in its mortgage business.

Investors 423

Investors Real Estate Mortgage Investing 423

Appraisal Buzz

JUNE 20, 2022

Michael Crockett has been named to the newly created role of chief data officer at Xactus , offering verification solutions to the mortgage industry, Crockett has almost 25 years of experience. Crockett joined Credit Plus in 2013 to create its QA/QC division.

Development 195

Development Appraisal Mortgage 195

Housing Wire

JANUARY 5, 2021

SimpleNexus , a digital mortgage startup, announced on Tuesday that it picked up $108 million in a Series B funding around. The fund raise comes as the company attempts to increase its marketshare within the eClosing and mobile mortgage segments.

Architecture 393

Architecture Real Estate Agent Loan Officers Real Estate 393

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). The problem: They did not qualify for the loans.

Mortgage 393

Mortgage Marketing Finance Insurance 393

Housing Wire

MAY 9, 2022

a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals.

Human Resources 393

Human Resources Lending Retail Mortgage 393

Housing Wire

NOVEMBER 11, 2021

Amrock , a title insurance, property valuations and settlement services provider that is part of the Rocket Companies family, announced Wednesday that longtime CEO, Brian Hughes will be retiring later this month and Nicole Beattie, the current vice president of mortgage servicing at sister company Rocket Mortgage , will take over.

Valuation 396

Valuation Technology Appraisal Clients 396

Housing Wire

AUGUST 30, 2021

The DOJ alleged that between 2013 to 2017, the bank violated the Fair Housing Act and the Equal Credit Opportunity Act “by avoiding predominantly Black and Hispanic neighborhoods [in the Houston, metro area] because of the race, color and national origin of the people living in those neighborhoods.”. Specifically, Cadence will provide $4.17

Lending 393

Lending Loan Officers Advertising Development 393

Housing Wire

MAY 19, 2022

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. We will continue to be judicious about if, when, and how we consider changes to FHA’s mortgage insurance premiums.”.

Insurance 414

Insurance Mortgage Development 414

Housing Wire

JANUARY 12, 2022

Stearns had a sizable partnership business, led by Steve Stein, a more limited retail operation, and a wholesale channel that was the largest in the industry as recently as 2013, but had lost market share to UWM. increase compared to 2020, according to Inside Mortgage Finance.

Retail 382

Retail Loan Officers Best Value Business 382

Housing Wire

JANUARY 24, 2022

Founded in 2000, Guaranteed Rate sought to boost retail loan originations, scale its JV platform, and develop new multichannel capabilities by acquiring Stearns. After the deal, HousingWire reported that Stearns’ retail operations was folded into Guaranteed Rate.

Lending 370

Lending Retail Loan Officers Business 370

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 387

Human Resources Government Finance Mortgage 387

Housing Wire

AUGUST 14, 2020

A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology. Berg joined Planet Home Lending in September 2013. Reames started as a processor with Planet Home Lending in July 2017.

Lending 307

Lending Retail Development Realty 307

Housing Wire

OCTOBER 21, 2020

Lone Star Funds ‘ residential mortgage lender Caliber Home Loans hopes to raise up to $538 million at its highly anticipated public debut next week, according to documents filed with the Securities and Exchanges Commission on Wednesday. ” Yet just a year ago – like many mortgage lenders – Caliber posted a net loss of $59.4

Retail 366

Retail Mortgage Business Technology 366

Housing Wire

MAY 26, 2021

After all, the FHFA reported that since 2013, the GSEs had paid approximately $15 billion in interest and premiums for their CRT coverage while receiving just $50 million in write downs or reimbursements. Simply put, we’ve not seen unexpected losses between 2013 and the first quarter of 2021. The benefits of CRT are numerous.

Insurance 349

Insurance Investors Design Finance 349

Housing Wire

APRIL 22, 2024

Buddy up with a mortgage lender, insurance rep, or real estate attorney and work the room together. She developed training materials, classes, and coaching programs for her fellow introverts. Use the buddy system. When you’re attending a new networking group and don’t know anyone, attend with a friend.

Real Estate 399

Real Estate Real Estate Agent Agents Training 399

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. Broader market considerations also come into play.

Mortgage 414

Mortgage Contracts Insurance Realtors 414

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%. An opportunity for commercial real estate investors and developers? I think so too.

Retail 388

Retail Real Estate Clients Modernization 388

Housing Wire

APRIL 18, 2023

In a cyclical mortgage industry, hedging is key to maintaining a buffer against losses. Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house.

Retail 358

Retail Business Agents Loan Officers 358

Appraisal Buzz

DECEMBER 6, 2021

According to the Appraiser Institute , more than 10,000 appraisers have left the industry since 2013. For example, wholesale mortgage lender United Wholesale Mortgage (UWM) announced it is launching its own in-house appraisal service in October of this year.

Appraisal 448

Appraisal Appraisal Process Valuation Technology 448

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.

Lending 404

Lending Contracts Investors Technology 404

Housing Wire

APRIL 22, 2024

House-hacking is a great way to build wealth and pay down your mortgage. Click to copy to clipboard When you’re developing your prospecting plan, incorporate some of these real estate prospecting letter templates to round out your strategy. She developed training materials, classes, and coaching programs for her fellow introverts.

Real Estate 406

Real Estate Open Houses Brokerage Real Estate Agent 406

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 482

Mortgage Inventory Housing Market Construction 482

Housing Wire

FEBRUARY 15, 2023

The NAHB attributes the increase to the slight easing of mortgage rates , which the trade organization feels is a signal that the housings market might be turning, despite builders still dealing with high construction costs and supply chain issues. Builders are continuing to offer a variety of incentives.

Mortgage 403

Mortgage Supply Chain Housing Market Construction 403

Housing Wire

NOVEMBER 28, 2023

The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday. mortgage lender, Charlotte-based BofA had $229 billion in outstanding residential mortgages on its books through Sept.

Law 441

Law Mortgage Loan Officers Lending 441

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

Inspection 136

Inspection Insurance Buyers Renovations 136

Housing Wire

SEPTEMBER 20, 2023

Digital mortgage automation solution provider Floify launched verification of income (VOI) and verification of employment (VOE) waterfall technology that aims to save lenders and mortgage brokers time and reduce costs during the loan origination process. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Technology 398

Technology Real Estate Agent Loan Officers Clients 398

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

Inspection 78

Inspection Insurance Buyers Renovations 78

Quicken Loans

NOVEMBER 5, 2021

At its most recent meeting, the Federal Open Market Committee (FOMC) of the Federal Reserve followed through on something that had been alluded to for a couple of months: It laid out a plan for the slow pullback of asset purchases by the Committee, including mortgage-backed securities. backed securities by at least $35 billion per month.

Mortgage 80

Mortgage Tools Business Marketing 80

Housing Wire

MARCH 23, 2021

to a seasonally adjusted annual rate of 775,000 in February — the sharpest month-over-month decline since 2013, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development. But will borrowers continue to want to buy amid rising prices and mortgage rates? year-over-year jump.

Construction 527

Construction Buyers Development Contracts 527