Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

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Housing Wire

JULY 7, 2023

The Homeowners Assistance Fund (HAF) — a program designed to offer financial help to homeowners impacted by the COVID-19 pandemic — has kept more than 300,000 homeowners in their homes by curing defaults and keeping them out of foreclosure , according to data released this week by the U.S. Department of the Treasury. “As

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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. “

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Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

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Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

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Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

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Housing Wire

AUGUST 1, 2023

Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Founded in 2018 , Stavvy works to increase efficiency and transparency in real estate and mortgage lending. Terms of the deal were not announced.

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Housing Wire

FEBRUARY 13, 2024

The state of California has extended the eligibility rules for its mortgage relief program, funded by the Homeowner Assistance Fund (HAF) allocation in the American Rescue Plan Act of 2021. In the latest extension, assistance is available to qualified homeowners who’ve missed at least two mortgage payments by Feb.

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Housing Wire

JUNE 6, 2022

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. As of September 2021 the MMIF was nicely cushioned, with a capital ratio of 8.03% — almost four times the required statutory minimum.

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Housing Wire

MARCH 2, 2022

The serious delinquency rate in the Federal Housing Administration loan portfolio is now far less than its pandemic peak, and the Department of Housing and Urban Development said sustained improvement will factor in to whether it adjusts mortgage insurance premiums. In March 2021, HUD Sec.

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Housing Wire

SEPTEMBER 16, 2021

When it comes to housing and mortgage markets this fall, most attention is being focused on the expiration of eviction and foreclosure moratoria and the pending completion of forbearance terms for many homeowners. by the end of 2021, and likely dropping below 4% by the end of 2022. Forbearance trends and exits outlook.

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Housing Wire

JANUARY 27, 2022

housing entities are at odds over the future of the federal government’s cash-strapped flood insurance program. But Fannie Mae , the government-sponsored entity that backstops a significant portion of the country’s mortgages, does not seek an exception to the 1974 Federal Privacy Act. Two of the most powerful U.S.

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Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. Yet help might be on the way.

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Housing Wire

MARCH 17, 2021

WFG Title Insurance will now offer forbearance, loan modification, and foreclosure information reports as part of its general title and closing services. ” Forbearance legislation and moratoriums have all but stopped foreclosure proceedings during the pandemic and will continue until at least June 2021.

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Housing Wire

FEBRUARY 14, 2023

Consumer prices continued to climb in January, but they rose at the lowest yearly pace recorded since October 2021, according to data released Tuesday by the Bureau of Labor Statistics (BLS). in January, its smallest yearly gain since December 2021. The Consumer Price Index rose by 6.4% in January compared to a year ago. in December.

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Housing Wire

OCTOBER 12, 2022

The American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey noted in a third of all real estate and mortgage transactions, title insurance professionals reported cyber criminals trying to deceive employees into wiring money to fraudulent accounts. .

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Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.” Presented by: Mortgage Coach.

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Housing Wire

MAY 26, 2021

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

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Housing Wire

FEBRUARY 22, 2022

Lenders are left to their own devices to design the programs, based on guidelines from the CFPB, and hope they get it right. In December 2021, HUD resolved long standing questions about whether special purpose programs would violate the fair housing act. CFPB officials have also since made public statements in support of the programs.

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Housing Wire

JULY 7, 2021

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM).

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Housing Wire

APRIL 27, 2021

Ritchie Torres (D-NY) last week introduced the “Real Estate Valuation Fairness and Improvement Act of 2021,” to root out discrimination in appraising and correct the legacy of redlining. The Consumer Financial Protection Bureau would designate the chairperson of the body. Emanuel Cleaver (D-MO) and Rep.

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Housing Wire

FEBRUARY 2, 2021

It’s a topic she’s well-suited to speak on — at CoreLogic, Hepp is responsible for analyzing, interpreting and forecasting economic trends in real estate, mortgage and insurance. Prior to joining CoreLogic in 2020, Hepp was chief economist and vice president of business intelligence for Pacific Union International , Inc.,

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Housing Wire

FEBRUARY 17, 2021

Mark Wai, executive vice president and chief technology officer at Radian , will speak on the Mortgage Disruption Outlook panel at HousingWire’s Spring Summit on March 4. Wai has been building applications and working in technology for two decades. The summit also features sessions on lessons from local markets, an economic update and more.

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Housing Wire

DECEMBER 18, 2020

Considering the median mortgage payment sits around $1,100, that’s a pretty big chunk of change to be bringing in. The differences between FHA, VA, and USDA mortgages. Is 2021 a good time to buy a house? It’s not just your mortgage to think about. Renting your home out on Airbnb can be a smart way to make some extra cash.

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Housing Wire

DECEMBER 20, 2021

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. in November 2021, down from 14.8%

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Mortgage Government Contracts Insurance 345

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. We know who the borrowers are. We service their loans. of the U.S.

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Housing Wire

JULY 11, 2022

The federal government’s signature program to help homeowners from falling behind on their mortgage, having utilities shut off, or being forced out of their homes, is finally being rolled out across America through pilot programs. HousingWire spoke to servicers to gain insight into how the rollout was going for industry players.

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Housing Wire

JUNE 17, 2021

Peter Paglia: The Mortgage Bankers Association (MBA) predicts purchase volume will set a new record in 2021, hitting $1.67 PP: HomeBinder provides a centralized and automated home management platform designed for the journey of homeownership. trillion for a projected growth of 16.4%.

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Housing Wire

NOVEMBER 9, 2020

One area in the mortgage and real estate industry that has been evolving for nearly two decades is digital closings. E-mortgage volume spikes. During the first six months of 2020, the Federal Housing Finance Agency reported that the volume of e-mortgages purchased by Fannie Mae and Freddie Mac spiked significantly.

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Appraisal Today

MAY 10, 2024

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. 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.

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Housing Wire

AUGUST 2, 2021

The 2021 Women of Influence winners represent 100 of the most influential women in leadership in the housing economy. More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Head of Product and Design. Briana Ings.

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Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. ” To illustrate, the median interest rate for a 30-year fixed-rate mortgage at the end of 2022 was 6.5%, per the CFPB report. . At Mortgage News Daily , it was at 7.50%.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

In appraisals completed for mortgage lending purposes, some lenders require that the total remaining life of a home not be less than the term of the mortgage. I can tell you that in economically challenged areas, very often, the total economic life of many homes is less than the term of most traditional mortgages. The HUD 4000.1

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Lamacchia Realty

OCTOBER 6, 2021

However, the general rule of thumb is that it needs to be replaced in 60 days to obtain home insurance. No home insurance, no mortgage. Getting Insurance for a Home with Knob and Tube Wiring. Obtaining insurance for a home with knob and tube wiring comes with a specific set of requirements. April 8, 2021.

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Housing Wire

JUNE 13, 2022

Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. billion of insurance coverage on $675.9 billion of insurance coverage on $675.9

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Appraisal Today

JULY 14, 2023

Most, including Bill Gates’ mansion is across Lake Washington from Seattle. == Three Dangerous Insurance Mistakes Appraisers Should Avoid by Isaac Peck, Senior Broker at www.OREP.org 1. Appraiser E&O insurance is written on a “Claims Made” basis. I still hear from appraisers who let their insurance lapse.

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