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. Planet Home Lending has promoted four people to vice president positions, supporting the company’s continual growth.

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Housing Wire

JULY 26, 2021

The roots of racial disparities in housing and mortgage markets run deep. Historic government institutionalized discrimination includes actions like “redlining,” where the Federal Housing Administration would refuse to insure mortgages in and around Black neighborhoods. Justice Department charges of fair-lending violations.

Mortgage 498

Mortgage Lending Real Estate Agent Government 498

Housing Wire

APRIL 24, 2024

Most recently, he served as the president of Fairway Central at Fairway Independent Mortgage Corp. In May 2020, Brenning also founded and led Amerisave Wholesale Mortgage Solutions , a technology- and service-driven wholesale lending platform. “I Since 2014, he worked as its senior vice president.

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Lending Investors Clients Technology 282

Housing Wire

FEBRUARY 8, 2021

Excelerate Capital, a multi-state full-service wholesale, retail and residential mortgage banker, announced today the successful completion of its acquisition of Castle Mortgage Corporation. . “Castle Mortgage is an ideal strategic fit for Excelerate, and we are thrilled to have them join forces with us,” Thompson said. .

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Housing Wire

SEPTEMBER 11, 2020

Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% last month, the lowest since March 2014, indicating stricter requirements to get loans.

Mortgage 545

Mortgage Government Contracts Lending 545

Housing Wire

JUNE 10, 2021

Mortgage credit availability increased by 1.4% in May – a sign that volume-hungry lenders continued to loosen credit standards in a highly competitive market, according to Thursday data from the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index (MCAI) which uses 100 as a benchmark — increased to 129.9

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Mortgage Government Lending Housing Market 456

Housing Wire

MAY 17, 2024

The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024 term. Scarpati expressed excitement for his new role.

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Finance Retail Government Lending 324

Housing Wire

MARCH 9, 2021

Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index remained unchanged at 124.6

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Mortgage Government Buyers Contracts 471

Housing Wire

DECEMBER 10, 2020

The secondary market, often an afterthought for most participants in the mortgage process, took center stage in 2020. The country was in the middle of the financial crisis, as the consequences of the deceptive mortgage lending practices from all the years prior came crashing down. That is, until March 2020.

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Marketing Lending Design Government 424

Housing Wire

JULY 14, 2023

Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis.

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Law Mortgage Construction Lending 281

Housing Wire

MAY 17, 2024

The Federal Housing Administration (FHA) this week published a mortgagee letter (ML) amending a 2022 requirement for mortgage lenders, and anyone seeking to do business with FHA, to obtain a Unique Entity Identifier (UEI) in order to be eligible for such business. The rule is effective immediately.

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Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. ” With over 21 years in finance and mortgage lending roles, Yeager’s experience spans investment banking, residential retail mortgage, and private mortgage lending.

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Loan Officers Retail Lending Investing 312

Housing Wire

NOVEMBER 14, 2023

Still, it can increase if necessary, as the FHFA will continue to monitor the multifamily mortgage market, it says in a recently published fact sheet. The Mortgage Bankers Association (MBA) forecasts that multifamily lending is expected to drop to $285 billion this year – a 41% decline from last year’s total of $480 billion.

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Housing Wire

MAY 1, 2023

Between 2014-2020, the majority of PACE loans were used for natural disaster preparedness. Although PACE lending is authorized by local governments, private companies typically administer the programs, which can include marketing of the loans, managing originations, and making the lending decisions.”

Property Taxes 297

Property Taxes Renovations Finance Lending 297

Housing Wire

JUNE 13, 2023

Atlanta-based Equity Prime Mortgage (EPM) has decided to focus its investments on the wholesale channel amid the most challenging mortgage market in decades. Meanwhile, with competitive pricing, United Wholesale Mortgage (UWM) reached an estimated 54% market share at the end of 2022. in 2014. .

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Retail Loan Officers Landlords Lending 363

Housing Wire

MAY 4, 2022

In a move with ramifications for an untold number of mortgage lenders and service firms, Intercontinental Exchange, Inc. , a software and data company whose mini-empire includes ICE Mortgage Technology , has bought Black Knight. This is the second major recent deal for Intercontinental Exchange in the mortgage space.

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Loan Officers Mortgage Lending Technology 425

Housing Wire

OCTOBER 29, 2021

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. He also had a stint as director at the Center for Responsible Lending. a legal defense nonprofit.

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Lending Law Legal Mortgage 322

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

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Mortgage Loan Officers Retail Training 340

Housing Wire

SEPTEMBER 21, 2022

through its mortgage-backed securities conduit Angel Mortgage Trust , has unveiled its sixth private-label securities (PLS) offering of 2022, even as fast-rising interest rates have jumped far ahead of the lower-rate legacy loans securing the deal. Presented by: Acra Lending. Atlanta-based non-QM lender Angel Oak Cos.

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Lending Mortgage Finance Investing 376

Housing Wire

JULY 7, 2023

There is a lot less liquidity for fix-and-flip and bridge loans in today’s market, especially after the banking crisis,” said Keith Lind, CEO of Acra Lending. “In Add to that the fact that some bigger, regional banks have paused or exited the lending game altogether for these types of assets. “We Our pipeline is growing,” Lind said.

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Marketing Lending Investors Real Estate 331

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%. Mortgage rates fell to a low of 6.43% then ended the week at 6.5%.

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Inventory Housing Market Marketing New Listings 482

Housing Wire

DECEMBER 16, 2021

On Tuesday, according to multiple sources within the New York-headquartered mortgage lender and “power buyer,” a weekly video meeting of Knock loan officers took a turn when Robert Foos, Knock’s director of sales, told loan officers that they would receive a 33% reduction in salaries effective Jan. Knock does not do refinancings.).

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Loan Officers Real Estate Agent Real Estate Agents 351

Housing Wire

JANUARY 19, 2023

The seventh-largest lender ditched its wholesale channel after reporting a $223 million loss in the second quarter amid intensified competition in the broker space, primarily from United Wholesale Mortgage, which started a price war by cutting 50 bps across all loans last summer. Loan origination volume dropped to $9.8 billion.

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Technology Lending Real Estate Mortgage 279

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. But Fannie Mae and Freddie Mac, as well as the larger mortgage industry, continue to wrestle with diversity.

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Human Resources Government Finance Mortgage 333

Housing Wire

APRIL 11, 2022

Top mortgage lending software and analytics provider Black Knight is reportedly exploring a sale following takeover interest from several private equity firms. Black Knight’s stock has been punished due to the company’s exposure to the mortgage business – after reaching a record of $4.4

Technology 290

Technology Investors Mortgage Lending 290

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

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Law Inventory Lending Mortgage 511

Housing Wire

SEPTEMBER 24, 2021

The company says it will use the funding to “aggressively” build new products for mortgage lending and banking industries, expand its US operations and scale its staff with a focus on machine learning and data science teams.

Technology 274

Technology Valuation Lending Investors 274

Housing Wire

FEBRUARY 3, 2021

“This acquisition opens the door for us to grow in the private lending space with a proven market leader, creating value for both of our organizations. billion since its inception in 2014, the company said. Non-QM lending is poised for growth in 2021. Presented by: Angel Oak.

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Investors Real Estate Lending Investing 287

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. However, Rocket Mortgage said it will offer the new ceiling within 24 hours.

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Finance Mortgage Design Government 238

Housing Wire

NOVEMBER 10, 2020

Online mortgage lender Better.com revealed it raised $200 million in a series D financing that put the New York-based startup at a $4 billion valuation, according to an internal memo reviewed by Bloomberg. Better.com, founded in 2014 by entrepreneur Vishal Garg, raised $235 million last year and has been on a hiring spree ever since.

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Valuation Loan Officers Investors Finance 372

Housing Wire

OCTOBER 1, 2022

Mortgage interest rates have risen quickly in the past few months further eroding affordability. Another reason why distressed sales are likely low, is that lending standards remain tight. It is difficult to obtain a mortgage today. The last high among all-cash buyers was seen at 35% in 2014.

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Realtors Housing Market Marketing Buyers 379

Housing Wire

OCTOBER 12, 2021

This week, Redwood and Point, the latter founded in 2014, announced that they have completed a first-of-its-kind securitization supported by those HEI contracts. That is done via what is called a home-equity investment contract, or an HEI.

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Contracts Marketing Investing Real Estate 357

Housing Wire

NOVEMBER 12, 2021

In 2021, the message became clear: mortgage lenders must adapt to survive. In 2014, the OSE implemented a quality management program, to make certain the supervisory program adheres to CFPB standards, policies and procedures, ensure accountability and continuous improvement, and make sure that office has quality controls.

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Law Technology Lending Development 295

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

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Marketing Government Mortgage Sellers 404

Housing Wire

DECEMBER 14, 2020

I talked about this on a HousingWire video because there is some confusion on this topic that credit has been tight for residential lending. The next few years’ challenges will be demographic driven demand vs. affordability when mortgage rates rise. I would estimate that only 4.5%-6.2% housing market’s overall health and stability.

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Housing Market Government Marketing Mortgage 545

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.

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Mortgage Inventory Housing Market Construction 443

Housing Wire

OCTOBER 2, 2020

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. It’s a huge growth engine for AmeriHome – in 2014 the correspondent channel produced $1.9 billion in volume representing just 0.5%

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Valuation Mortgage Business Modernization 239