Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. billion in 2022, up from the previous year’s $2.2 While investor bonds were scarce, A&D securitized its loans and sold the bonds, leading to seven securitization deals in 2022.

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Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Housing Wire

DECEMBER 16, 2021

Nevertheless, while we view the trends described below as the most likely path for the economy and mortgage market in 2022, this news highlights the elevated level of uncertainty we’ve all been living with the past few years. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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Housing Wire

MARCH 12, 2024

“While rising interest rates affected all homebuyers, this impact was more pronounced among Hispanic households, many of whom are first-time buyers with lower median incomes and who live in higher priced markets,” according to NAHREP. That’s encouraged the ITIN buyers to come down and start buying.” I’ve even seen grandparents jump in.

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Lamacchia Realty

MARCH 11, 2024

Buyers hoping to purchase condos have been under more stringent lending regulations over the past three years, initially under temporary guidelines that were later made permanent. The temporary changes were effective on January 1, 2022 and were the beginning of more nuanced condo purchases. See the example below.

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Housing Wire

JUNE 29, 2022

Millennials and Gen Zs make up the largest cohort of potential homebuyers today, the majority of which are first-time buyers bullish to get a foot on the property ladder. This generation does not seem overly impressed by big names, preferring instead to research the lending option best suited to their personal needs.

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Housing Wire

DECEMBER 9, 2021

In 2022, many Americans affected by COVID-19 will need to make a decision about the resolution to their mortgage forbearance,” said Jeremy Potter, head of legal and capital markets at Stavvy. We reached out to Potter to learn more about how Stavvy is streamlining the loan closing and servicing process and what’s to come in 2022.

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Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

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Housing Wire

DECEMBER 30, 2022

To help shed some light in this area, several of the 2022 HousingWire Vanguard honorees shared their insights on what’s happening at the federal level that’s going to affect housing this year and into 2023. These conditions are challenging for even the average homebuyer, let alone low-income and minority buyers.

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Housing Wire

MAY 10, 2024

A prospective buyer would still need to come up with $120,000 to close the gap. If the buyer has a 20% down payment, or $80,000, they would still need an additional $40,000 to seal the deal. Assumable mortgages enable qualified buyers to take over a seller’s mortgage terms, including the existing balance and interest rate.

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Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. The home-only lending market presents several major opportunities.

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Housing Wire

MAY 2, 2024

Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said. Potempa had a joint venture with OneTrust from March 2022 to March 2024. His portfolio is concentrated on purchase loans (98% of the total volume in 2023) for first-time homebuyers. OneTrust has had some recent leadership changes.

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Housing Wire

JANUARY 10, 2023

Ongoing affordability challenges are expected to limit buyers from entering the market in 2023, according to Fannie Mae , which will result in continued decline in home sales in coming months. recorded in October 2022. On the buyer side, 21% said it was a good time to buy, an increase from 16% in November. in the same period.

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Housing Wire

SEPTEMBER 9, 2022

So below, I highlight some beyond-the-headlines opportunities and offer tips to companies and individuals as we navigate this fintech winter of 2022. The post <strong>Who will survive the fintech winter of 2022?</strong> Warm spots in the fintech & mortgage winter. and 76.5%, respectively.

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Housing Wire

FEBRUARY 11, 2022

And since 2017, VA purchase loans helped roughly 200,000-230,000 VA-eligible first-time home buyers per year become homeowners. . In 2021, the VA FTHB segment reached an estimated $69 billion, according to Ginnie Mae loan-level disclosure data updated through January 2022, analyzed in GovLoansVision. Source: Polygon Research.

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Housing Wire

JULY 12, 2023

The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward home warranty and appraisal costs with the HomeReady SPCP. The programs are key to the GSEs’ equitable housing finance plans.

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Housing Wire

APRIL 5, 2024

The report, released back in December, noted that Navy Federal Credit Union approved more than 75% of white borrowers who applied for a new conventional home purchase mortgage in 2022 vs. less than 50% of black borrowers. racial, religious, or gender minority) at a greater rate, that policy may constitute lending discrimination.

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Housing Wire

SEPTEMBER 26, 2023

Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” “This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. “But that is where the similarities end.

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Housing Wire

MARCH 7, 2023

The Detroit-headquarterd lender will offer Freddie Mac ‘s BorrowSmart Access program for buyers who are purchasing a home in counties across 10 metropolitan areas — Atlanta, Chicago, Detroit, El Paso, Houston, McAllen, Memphis, Miami, Philadelphia and St. Louis, the lender said Tuesday.

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Housing Wire

SEPTEMBER 5, 2023

The non-QM demand for loans is very healthy,” Acra Lending CEO Keith Lind said. “We Another plus for non-QM lending has been the volatility in the banking sector. “I They just do not have the balance sheet that they used to have to dedicate to lending in the non-QM space.” billion in 2023, an increase from $2.1

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Housing Wire

MAY 17, 2023

Transactions in the fix and flip market have been booming in recent years, with more than 407,000 homes flipped in 2022, up 14% over 2021 and up 58% over 2020, according to a recent report by real estate data firm ATTOM. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

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Housing Wire

NOVEMBER 7, 2023

Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits. “It Potter added: “Government lending would come to a halt. “But agent commissions have never been a closing cost from a buyer perspective.

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Housing Wire

JANUARY 20, 2023

And existing home sales crashed in 2022 from a peak of around 6.5 The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022. The days on market were too low.

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Housing Wire

MARCH 5, 2024

An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. Department of Veterans Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to The Wall Street Journal. Raunaq Singh About $8.5 trillion in FHA and VA loans.

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Housing Wire

OCTOBER 24, 2023

Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. million in mortgages in 2022, with a total of $135.7 Patton Gade, the top producing loan officer for VA home loans in the U.S. Arizona-based Gade, a graduate of the U.S. Gade originated $165.4

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Housing Wire

JULY 20, 2023

Licensed in 46 states, On Q Financial originated $2 billion in 2022 — 85% of the volume coming from its retail channel and 15% coming from the correspondent and wholesale channel, according to Lamb. Following one major layoff and furlough in 2022, the Arizona-based lender eliminated costs and is positioned to grow revenue, executives said.

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Housing Wire

AUGUST 15, 2022

The Federal Reserve Bank of New York ’s second-quarter 2022 Household Debt and Credit Report shows that limits on HELOCs jumped by $18 billion in the second quarter of this year, “the first substantial increase in HELOC limits since 2011,” and an indicator of an increase in new originations. billion in 2021 to $4.6 billion in 2021 to $4.6

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Housing Wire

OCTOBER 1, 2022

Notably, the market has contracted as fewer buyers can afford to purchase in today’s market with the rise in interest rates and the continual rise in home prices. One way to understand the competitiveness of the market is to look at buyers who are waiving contingencies. All cash buyers now stand at 24%. Historically 2.5

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Housing Wire

JUNE 12, 2024

On Tuesday, the VA announced that will it implement temporary rules to allow buyer-paid broker fees. It found that the use of VA loans has surged since the Great Recession and has expanded homeownership opportunities for younger buyers, female veterans and veterans of color. clip in 2022, higher than the 62.9%

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Housing Wire

NOVEMBER 18, 2022

This week, American Financing Corporation reduced employee headcount by almost two thirds and power buyer Homeward slashed 25% of its workforce as the companies faced headwinds. This white paper will examine the growing importance of modernization in the mortgage lending industry. And don’t expect the layoffs to stop anytime soon.

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Housing Wire

APRIL 26, 2024

HousingWire sat down with Acra Lending CEO Keith Lind to discuss effective ways to not only survive, but profit in the non-QM space while so many others are closing their doors. Lind also shares insights into the future of non-QM lending and the importance of emergent technologies in improving the origination process.

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Housing Wire

MAY 12, 2023

Amid several quarterly losses, Home Point being sold wasn’t out of the realm of possibility, the company’s president and CEO, Willie Newman , said when announcing the 2022 earnings in early March. The buyer inherited a lender that produced $891 million in mortgage loans in Q1, compared to $1.7 billion in Q4 2022.

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Housing Wire

JUNE 26, 2023

In May 2022, MAXEX launched a DSCR [debt-service coverage ratio] loan-purchasing program for originators looking to tap into the growing mortgage demand from individual and small-business real estate investors, such as rental property owners, who “tend to prioritize property cash flow over interest rate.”

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Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. We finally paid the price — pun intended — of not having enough product, with massive home price gains from 2020-2022.

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Housing Wire

SEPTEMBER 27, 2022

Growing obstacles in 2022’s market. Still, local lenders face rising challenges that threaten their ability to serve the American home buyers who need them most. These solutions give local lenders an edge not only due to what they provide, but also due to the complexities, resources and headaches they offload from lending teams.

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Mortgage rates are now at their lowest level since September 2022, and are about a percentage point below the peak mortgage rate last fall, according to the Mortgage Bankers Association.

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Housing Wire

DECEMBER 13, 2023

With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels. As origination volume increases, and related MBS issuance goes up, so does the supply of MBS for sale in the market — creating downward pressure on prices, assuming buyer demand remains repressed.

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