Housing Wire

JULY 14, 2022

JPMorgan Chase leaders Thursday provided a glimpse of what’s to come as mortgage lenders begin sharing performance data for the second quarter – and it’s not pretty. But, so far, the landscape is hurting the mortgage business. JPMorgan Chase, the fifth-biggest mortgage lender in the country, reported its origination volume totaled $21.9

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Mortgage Retail Valuation Lending 395

Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020.

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Mortgage Loan Officers Lending Human Resources 417

Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.88%.

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Mortgage Valuation Housing Market Renovations 525

Housing Wire

JULY 31, 2023

Mike Cagney’s Figure Technologies laid off 20% of its staff and plans to take its profitable lending business public next year, Bloomberg reported. Figures’ lending business hit a record $900 million in origination and generated $2.7 billion public valuation for LendCo when it goes public.

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Lending Valuation Business Technology 357

Housing Wire

JULY 29, 2021

The average 30-year fixed-rate mortgage increased slightly to 2.80% for the week ending on July 29, halting a streak of weekly declines, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The 15-year fixed-rate mortgage decreased two basis points from last week, averaging 2.10% for the week ending on July 29.

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Mortgage Valuation Investors Housing Market 417

Housing Wire

MAY 16, 2023

Ann Arbor, Michigan-based Home Point Capital did not experience the traditional ceremony to ring the Nasdaq Stock Market bell when the company went public in early 2021. It was basically the best company I’ve ever worked at,” a former underwriter, who joined the company in January 2021, said. “Homepoint was fantastic.

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Mortgage Lending Business Technology 394

Housing Wire

NOVEMBER 29, 2022

Mortgage fairness for Black and Native Americans is no better today than it was 30 years ago, according to a new mortgage fairness report. The report, issued by “fairness-as-a-service” solution firm FairPlay AI , was based on a study of more than 350 million mortgage applications from 1990 to 2021.

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Lending Government Mortgage Valuation 370

Housing Wire

MAY 25, 2021

Title-services giant Stewart Title announced today the acquisition of Cloudvirga , a leading fintech company that powers digital mortgages through its retail and wholesale point-of-sale systems. In the fourth quarter of 2020, the company reported a net income of nearly $60 million, driven by historic mortgage originations.

Mortgage 407

Mortgage Valuation Loan Officers Retail 407

Housing Wire

JANUARY 22, 2021

After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95. In the third quarter, UWM originated $54 billion worth of mortgages. By 10:45 a.m.

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Mortgage Technology Investors Business 518

Housing Wire

MARCH 16, 2022

Cyberattacks are on the rise in recent weeks, as sanctions on Russia push its economy to the breaking point , and mortgage lenders may have unique vulnerabilities. As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase. Presented by: FundingShield.

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Mortgage Marketing Lending Loan Officers 383

Housing Wire

APRIL 6, 2023

“This is an opportunity to expand our understanding of the issues facing today’s appraisal industry and to get a clearer picture of how current practices and the appraisal regulatory system impact lending in this country.” housing market in the future.

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Appraisal Valuation Government Appraisal Process 382

Housing Wire

OCTOBER 13, 2021

billion worth of mortgages from July to September, up 5% from the previous quarter and up 43% year-over-year, the bank announced on Wednesday. Year over year, home lending at the bank rose 27.3%. Mortgage fee and related income came in at $596 million, up from the $548 million JPMorgan Chase generated in the second quarter.

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Supply Chain Mortgage Retail Valuation 351

Housing Wire

OCTOBER 2, 2020

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. It originated about $36 billion in mortgages during the first half of the year, according to Inside Mortgage Finance.

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Valuation Retail Mortgage Inventory 402

Housing Wire

APRIL 23, 2024

Rocket Mortgage launched a new artificial intelligence (AI) tool on Tuesday that allows its client experience teams to analyze sentiment, record behavior patterns, transcribe conversations and create tailored experiences during customer interactions. The addressable market in mortgages is $1.5 million in loans serviced.

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Tools Clients Investing Finance 399

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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Law Legal Valuation Government 417

Appraisal Buzz

SEPTEMBER 15, 2021

Boston, September 14, 2021 – Reggora , an appraisal software company, improving residential real estate valuation, announced today that Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal. Read about the company’s vision for the future of valuation here.

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Technology Appraisal Modernization Mortgage 195

Housing Wire

AUGUST 30, 2022

There is also a renewed interest in the future state of residential mortgage originations. While the lending industry has traditionally seen a measured and conservative approach to technological evolution, we are finding that many “strategic” decisions are made during these relative lulls in production. Looking Inward.

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Tools Lending Technology Valuation 406

Housing Wire

MAY 4, 2023

California mortgage tech firm Blend Labs is at risk of getting delisted from the New York Stock Exchange (NYSE) as a consequence of the company’s stock price slumping below $1 for more than a month. With shares closing at $20.90, Blend had a valuation of around $4.6 million in 2021. for more than 30 trading days. “We

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Business Valuation Mortgage Lending 370

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. The lender and servicer, owned by the Blackstone Group’s Tactical Opportunities business, is slated to go public in the first half of 2021 through a special purpose acquisition company at a $1.9

Finance 487

Finance Lending Retail Investing 487

Housing Wire

MARCH 15, 2021

Digital lending software provider Blend announced on Monday that it is expanding its cloud-based platform with the acquisition of Title365 from the Mr. Cooper Group for approximately $422 million, reflecting an enterprise value of $500 million. How hybrid title and valuations help increase lending efficiency.

Insurance 394

Insurance Lending Real Estate Agent Valuation 394

Housing Wire

NOVEMBER 18, 2022

The third quarter used to be historically the strongest of the year for independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks. How are higher mortgage rates affecting servicing? Presented by: Acra Lending. At least until 2022.

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Lending Mortgage Valuation Business 382

Housing Wire

AUGUST 17, 2022

Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”.

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Investors Brokerage Valuation Mortgage 417

Housing Wire

APRIL 21, 2021

Temporary flexibilities related to employment verification, condominium project reviews, and expanded power of attorney are being allowed to expire as scheduled on April 30, 2021, the FHFA said. The government agency also said it plans to retire all temporary selling flexibilities on May 31, 2021.

Real Estate Agent 395

Real Estate Agent Valuation Appraisal Modernization 395

Housing Wire

MARCH 22, 2022

Nonbanks and mortgage subsidiaries of chartered banks reported grim profitability figures in the fourth quarter of 2021, when costs reached a new high and margins fell to the lowest level since early 2019. The fourth quarter saw total mortgage production revenue dip to 353 bps, down from 396 bps in the first quarter, the MBA said.

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Valuation Mortgage Lending Marketing 427

Appraisal Buzz

AUGUST 9, 2021

There are many facets to the appraisal business: lending, non-lending work, residential, and commercial work. Who even knew about desktop valuations or evaluations? Answer: the appraisers that paid attention to policy changes and the inner workings of the mortgage industry. Mortgage work is driven by interest rates.

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Appraisal Inspection Lending Business 435

Housing Wire

DECEMBER 29, 2020

With 2020 finally coming to a close, several companies wrapped up this unprecedented year for housing with some brand-new mortgage tech for 2021. With that aggregation, Optimal Blue said lenders can more efficiently price and originate mortgage products that can be sold on the secondary market.

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Mortgage Investors Technology Real Estate Agent 368

Housing Wire

OCTOBER 19, 2022

Fitch Ratings in October 2022 set negative outlooks for four nonbank mortgage lenders. Credit rating agency Fitch this week revised the long-term issuer default ratings (IDRs) for five nonbank residential mortgage lenders based on their financial performances in the first half of 2022. Freedom’s corporate leverage was 1.7x

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Valuation Mortgage Retail Business 395

Housing Wire

JUNE 2, 2022

The question was on the minds of many at the Waldorf Astoria in Dana Point, California on Thursday – will non-qualified mortgage products become more commoditized as the rising rate environment wallops agency lending? In 2021, S&P Global estimated non-QM volume reached $28.6 of the overall mortgage market.

Lending 381

Lending Investors Mortgage Clients 381

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. billion of it coming through its forward-lending arm. billion valuation. Reverse mortgage originations declined 19% from the second quarter to $626 million.

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Finance Lending Retail Business 235

Appraisal Buzz

JUNE 10, 2021

Clario’s growth is unprecedented, expanding from 30 staff appraisers in 2019 to over 100 by the end of 2020, and is on target to employ 180 staff appraisers by the end of 2021. We specialize in real estate valuations for the mortgage lending and financial services industries. About Clario: Clario Appraisal Network, Inc.

Appraisal 370

Appraisal Valuation Training Real Estate 370

Housing Wire

APRIL 30, 2021

The same can be said about the mortgage industry as an ecosystem, and its technology as the coral reef. If mortgage professionals use different systems and software that don’t work well together, how can the mortgage ecosystem survive? Right now, the mortgage ecosystem is fractured. Fractured mortgage ecosystem.

Mortgage 304

Mortgage Technology Investors Lending 304

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. Ocrolus has onboarded over 75 corporate team members in 2021 and plans to hire even faster in 2022.

Technology 336

Technology Valuation Lending Investors 336

Housing Wire

SEPTEMBER 10, 2021

Orchard , which operates a home-buying and selling platform, announced it has raised $100 million in Series D funding at over a $1 billion valuation. It also launched its lending division, Orchard Home Loans, in July. It also launched its lending division, Orchard Home Loans, in July. North Carolina and Texas.

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Lending Insurance Investors Real Estate 405

Housing Wire

APRIL 27, 2021

Legislation in Congress would try to solve for inconsistencies in appraisal underwriting, a lack of diversity in the profession, and the legacy of property valuation discrimination. Emanuel Cleaver (D-MO) and Rep. The Consumer Financial Protection Bureau would designate the chairperson of the body.

Appraisal 383

Appraisal Valuation Design Real Estate 383

Housing Wire

NOVEMBER 17, 2022

Mortgage industry executives are echoing the sentiment that Ginnie Mae’s risk-based capital requirement is currently the main concern for companies holding mortgage servicing rights (MSR). This is predominantly for the 2020 and 2021 origination, as we are still not seeing a significant amount of the 6% product trading.”

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Marketing Lending Mortgage Valuation 412

Housing Wire

FEBRUARY 5, 2021

Mortgage Champions founder and CEO Dave Vermillion will be speaking on a panel covering operational strategies in the current market at HousingWire’s Spring Summit on March 4. He is the author of Navigating the Mortgage Maze , a guide teaching the simple truths to securing the best possible mortgage, every time.

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Training Technology Real Estate Valuation 287

Housing Wire

APRIL 3, 2023

For independent mortgage banks [IMBs], the uncertainty of the direction the banking calamity will take and its impact on the housing-finance market remains an open question. Federal Reserve lending to banks through its discount window and the new Bank Term Lending Program created in the wake of SVB ’s failure stood at a combined $152.6

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Lending Mortgage Business Contracts 377