Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

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Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. So fix-and-flip lending is directly helping that supply and demand issue in terms of creating new housing stock or upgrading what would otherwise be dilapidated housing stock,” Faes said.

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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. This can lead to home prices getting out of control , especially when total inventory gets to all-time lows.

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Housing Wire

AUGUST 12, 2022

Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, despite an effort to reduce expenses. million loss in the first quarter of 2022 and the $8.9 Why non-QM lending is not going away. million in Q2 2022, down from $314.3 million in Q1 2022 and $100.6

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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

MAY 25, 2022

There’s no question that 2022 has seen serious changes to the housing market. Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. Bracing for the challenges of non-QM.

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Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. Nor can we ever have a credit sales boom again with lending standards back to normal. million listings.

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Housing Wire

SEPTEMBER 12, 2023

About 20 loan officers under her leadership produced $116 million in mortgages over the last 12 months, a drop from $223 million in 2022, according to the mortgage tech platform Modex. Investors impose these fees on lenders whenever a borrower pays off their mortgages usually within up to six months of funding. and 2024 at 6%.

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Housing Wire

FEBRUARY 10, 2023

Combine that with the lack of inventory in New Jersey and bidding wars are back, Kechian said in an interview with HousingWire. We feel like we picked up more market share in 2022,” Kechian said. in the fourth quarter of 2022. Kechian: In 2022, it was almost 90% purchase mortgages.

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Marketing Inventory Loan Officers Buyers 370

Housing Wire

MAY 2, 2024

Volatility in the Treasury market, which trades at a shifting spread below that of mortgage rates, also translates into uncertainty among housing market investors. Market observers say this normally leads to investor hesitancy and a tendency to keep more money parked on the sidelines.

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Marketing Mortgage Investors Sellers 431

Housing Wire

OCTOBER 1, 2022

As reported in the latest NAR Existing-Home Sales , inventory still remains in tight supply, which means homes are still moving at a fast past despite the recent rise in rates and home prices. Another reason why distressed sales are likely low, is that lending standards remain tight. It is difficult to obtain a mortgage today.

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Housing Wire

FEBRUARY 10, 2022

Despite this increase, First American’s newly appointed CEO , Ken DeGiorgio, said on an earnings call with investors that everyone at the company is proud of these achievements. But of course, there is low inventory, but I think we remain hopeful and expect to see some inventory coming on to the market which is good for our purchase business.

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Housing Wire

SEPTEMBER 11, 2023

The New York-based independent bank exceeded its 2022 production volume of $400 million in August, but the end goal is far more ambitious: The company is aiming to produce between $3 billion to $5 billion in origination volume annually. Target buyers for Cliffco include non-traditional buyers seeking investor loans.

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Housing Wire

SEPTEMBER 22, 2022

With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. Addressing a shortage of inventory is a serious concern, especially as fall and winter approaches when total inventory traditionally drops. million to 1.93

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Mortgage Loan Officers Inventory Retail 384

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory. He hit a record $2.47

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Housing Wire

JULY 12, 2022

. “As we know, the Federal Reserve has indicated they’re going to continue to raise rates, so we can lock in the loan with today’s rate for up to 90 days,” said Scott Bridges, senior managing director of direct consumer lending. And that has put pressure on mortgage lenders with extended lock-in periods.

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Mortgage Contracts Valuation Marketing 384

Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. And many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates. Tozer suggested “a fee of 1.3%

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Housing Wire

JUNE 16, 2022

Consequently (it) will shrink the buyer pool,” Yun said, adding: “Sales could fall even further with some inventory sitting on the market for more than a month like in the pre-pandemic days.”. With investors asking for higher premiums to invest in assets caused by the expectation of higher U.S. trillion in 2022 and $2.3

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Housing Wire

NOVEMBER 30, 2022

“The magnitude and speed of this change has contributed to an unfavorable spread environment that has continued to negatively affect issuance across all sectors of RMBS in [the second half of] 2022.”. We project Q4 2022 to be the lowest RMBS securitization issuance volume in any quarter since 2016, closing at less than $6 billion.

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Marketing Mortgage Business Government 397

Housing Wire

JUNE 2, 2023

The deal comes at a time when a lack of for-sale home inventory is boosting the appetite for homebuilders. The transaction could also signal investors’ re-entry into the housing market after institutional investors shed properties at the end of 2022 following a drop in housing prices nationwide.

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Housing Wire

MARCH 26, 2024

Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We That started in Q4 of 2022, so it’s been about six quarters at this point, and we predicted it would last 24 to 26 months,” Salmanson added. “So,

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Investors Marketing Inventory Real Estate 458

Housing Wire

JUNE 15, 2022

In a tight housing market with a shortage of inventory and soaring rates, many homebuyers are opting for ARMs, which carry lower rates for an initial period of fixed interest and amortize over a 30-year term. . It’s not a bad thing for borrowers, lenders, and loan investors. Stricter regulations, new guidelines. in 2005, the MBA said.

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Mortgage Bracketing Loan Officers Investors 370

Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. Inventory velocity. April 10, 2020: We needed a lot of inventory, fast. The velocity of inventory rising in the next three months is limited. April 2022: Inventory has not recovered.

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Housing Wire

JANUARY 30, 2024

Tom Piercy, chief growth officer at Incenter Capital Advisors (previously Incenter Mortgage Advisors ) anticipates that trading volume in 2024 also is expected to be impacted, in part, by MSR sales linked to merger and acquisition (M&A) activity in the lending sector. That’s probably one of our biggest areas of concentration today.”

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Marketing Mortgage Sellers Buyers 408

Listing Spark

DECEMBER 15, 2022

Brandon Smith, who has over 13 years of investing and lending experience, specializes in owner financing and has developed a successful system for sourcing deals and minimizing risk. In this episode, we’ll learn more about his approach, how he finds and closes deals, and best practices for working with banks and private investors.

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Finance Investing Real Estate Lending 36

Housing Wire

MARCH 23, 2022

Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much. Compared to the existing home sales marketplace, it doesn’t have a high cash buyer or investor buyer profile. First, total home sales should be 6.2 percent (±11.9

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Eppraisal

SEPTEMBER 22, 2021

The inventory of homes available are historically low as well. According to an article on Realtor.com, written by Danielle Hale, "The national inventory of active listings declined by 25.8% over last year, while the total inventory of unsold homes, including pending listings, declined by 13.8%. compared to 2019.".

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Housing Wire

JULY 16, 2021

Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. Tomo has a big opportunity – Freddie Mac expects purchase originations in 2021 and 2022 to approach about $3.6 It’s early.

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Listing Spark

OCTOBER 13, 2022

00:02:50] Peaking into the Fall 2022 Austin housing market. The Austin market has cooled down significantly since 2021 and early 2022. There is more inventory available and home sales are down. months of inventory, well below a balanced market of 6 months of inventory. Episode highlights. Key takeaways. [00:02:50]

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Housing Wire

AUGUST 15, 2023

Non-QM lender Acra Lending is projecting mortgage originations will increase in 2023 to about $2.6 The consolidation in the non-QM lending space, which has allowed Acra to expand its market share. “So, They’re not doing the lending that they were, and I think that is a tailwind for us. billion, up from $2.1

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Business Lending Investors Finance 370

Housing Wire

DECEMBER 2, 2021

What they can’t do is create more inventory to sell them. As we move into 2022, purchase money mortgage loan business will be the only avenue for growth. The lenders that take action on this important cause will be the winners in 2022. Crafting this message and connecting with borrowers will set successful lenders apart in 2022.

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Housing Wire

DECEMBER 29, 2023

“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.

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Mortgage Loan Officers Inventory Business 450

Housing Wire

JUNE 1, 2023

The first-quarter 2023 origination volume is down 19% from the final quarter of 2022, representing the eighth quarterly decrease in a row; and its down by 56% compared with the first quarter of 2022; and off 70% from the the first quarter of 2021. KBRA projects that 2023 RMBS 2.0

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Real Estate Mortgage Marketing Inventory 384

Housing Wire

AUGUST 9, 2023

1 when it came to jumbo originations in 2022, with $28.7 Pontiac, Michigan-based United Wholesale Mortgage was the only nonbank on the list, in the ninth position with $7 billion in volume in 2022. billion in the first quarter was down 43% compared to the previous quarter and 79% compared to the same period in 2022.

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Marketing Retail Mortgage Investors 370

Housing Wire

AUGUST 8, 2023

Busch is vice president and senior mortgage banker at First Savings Mortgage Corporation , a Virginia-based lender that produced $2 billion in mortgages in 2022, less than half the $4.2 The FHFA’s conforming loan limit was a baseline of $647,200 in 2022, and $726,200 in 2023.) billion in 2022, down 41.3% from June 2022.

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Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. As the market has shifted, however, with mortgage rates rising in 2022 faster than forecast and lenders quickly cutting costs, some tech providers now are left vulnerable.

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Mortgage Technology Loan Officers Investing 384

Housing Wire

SEPTEMBER 20, 2022

But recently a new factor is accelerating the problem — massive purchases of single-family homes by larger investors. In Texas, for example, major institutional investors bought 28% of the single-family homes sold in 2021. Nationally, institutional investors are buying over 13% of homes, and that share is increasing.

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