Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” Just because there’s vacant homes in the U.S.

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Housing Wire

AUGUST 25, 2022

With 2022 more than halfway behind us, economic indicators continue to forecast minimal refinance volume while purchase volume faces its own headwinds. In fact, remodeling expenditures set a new annual high of $391 billion in Q1 of 2022 – a number that’s difficult to ignore.

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Housing Wire

NOVEMBER 30, 2021

As we look forward to 2022, the non-QM market is predicted to grow substantially. There is a bigger consensus of confidence in the product now,” said Keith Lind, executive chairman and president of Acra Lending. trillion in 2022, according to the Mortgage Bankers Association – non-QM will be part of that, of course.

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Housing Wire

JULY 1, 2022

On the heels of a global COVID -19 pandemic that keeps rearing its head, the housing economy is now faced with rising rates and dismal inventory. Tasked with an endless list of functions, this year’s 2022 Marketing Leaders did it all despite market turmoil. First Vice President, Marketing, Retail Lending. Angel Oak 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

FEBRUARY 12, 2024

The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. And it marks the first year-over-year loan growth for any three-month period since Q1 2022.

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Housing Wire

OCTOBER 28, 2021

While the mortgage lending industry of the 1980s does not bear a lot of semblance to our experiences today, one thing everyone can agree on is that there is a great deal of pressure and heat on our streets. Ensuring the safety and soundness of residential mortgage originations is a pillar of lending today. The heat is definitely on. .

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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 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. Home prices have never been higher, pent-up demand stronger and housing inventory tighter.

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Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. billion in home loans, representing only 23% of the $108 billion volume in the previous year, when it was still the kingfish in correspondent lending. billion for the year from $44 billion in 2022.

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Housing Wire

JUNE 29, 2022

New data released in Maxwell’s 1H 2022 Millennial & Gen Z Borrower Sentiment Report , however, goes beyond simplistic stereotypes by digging into the needs, habits and preferences of 1,000 respondents planning to apply for a mortgage over the next few years.

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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

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

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

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

DECEMBER 28, 2022

This article is part of our 2022-23 Housing Market Forecast series. First, mortgage lending standards have remained high after the last bubble. The last time we saw prices decline, the combination of declining prices and bad mortgages forced inventory onto the market. There will be two key differences between 2023 and 2010.

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Housing Wire

MARCH 6, 2023

Price impacts could strengthen again if 30-year rates continue to climb, as they have through late February, although tight inventory will put a floor on how much prices will ease, the report noted. percentage points below the 37% level reached in October 2022 when affordability hit a more than 35-year low. In 2022, about $2.4

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Housing Wire

FEBRUARY 13, 2023

Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black Knight, said in a statement. Purchase lending accounted for 85% of the volume, but rate and affordability pressures have continued to challenge purchase lending.

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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

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% States that saw the highest Hispanic net migration between 2022 and 2023 were Texas (+79,000), Pennsylvania (+58,400) and Georgia (+37,600), according to data from Freddie Mac. In total, more than 9.5

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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

AUGUST 14, 2023

Rate lock activity fell for the second month in July as mortgage rates topped 7% for the first time since November 2022. Overall rate lock volume was down 7% month over month, with purchase lending accounting for 88% of total lock activity, according to Black Knight ‘s originations market monitor report.

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Housing Wire

FEBRUARY 27, 2023

Insellerate said it created the solution to drive origination volumes in the face of a “constantly changing mortgage market” that is riddled with rising interest rates and low inventory. The new product is fully integrated into loan origination systems, like ICE Technology’s Encompass and MeridianLink.

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Housing Wire

FEBRUARY 24, 2023

Inventories that were 90-plus days late on mortgage payments increased largely in Florida. The national delinquency rate in January is an improvement from the fourth quarter of 2022 when the Mortgage Bankers Association (MBA) noted an uptick in mortgage delinquency due to a weaker economy and inflation.

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Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.

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Housing Wire

FEBRUARY 6, 2023

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. off their June 2022 peak (…) Affordability still has a stranglehold on much of the market,” he noted.

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Housing Wire

JUNE 17, 2022

Amanda Hill: My first job for a small but innovative bank when I was still in college…I started as a teller, but when I was bored, they taught me to assist in other areas and lending captured my interest! I changed positions every 6-9 months, learning more at each level, and I eventually ran the entire mortgage lending department.

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Housing Wire

FEBRUARY 28, 2024

billion reported in 2022. billion in Q4 2022. billion produced in 2022. The company’s total gain-on-sale margins increased to 92 basis points in 2023, compared to 77 bps in 2022. Margins were close to the 99 bps level before the launch of the Game On pricing initiative in June 2022. billion in the previous year.

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Housing Wire

MAY 19, 2022

HousingWire recently spoke with Jon Irvine, Chief Production Officer at Change Lending, about how brokers can gain a new competitive advantage in the current tight market. HousingWire: The current inventory shortage doesn’t seem like it will let up anytime soon. What challenges does this present to brokers?

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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

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? Weekly inventory increased by 1,734. New listing data collapsed, but we are putting an asterisk on that data line for this week.

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Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The 2022 housing market has been underscored by interest rate spikes and refi decline and lenders are working hard to adjust to new borrower trends.

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Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

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Housing Wire

DECEMBER 3, 2021

She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. HousingWire: What do you think will be t he big themes for the housing market in 2022? Reina Ramos: I think the theme for 2022 will be housing starts and affordability.

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Housing Wire

MARCH 13, 2023

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. off levels from 2022. Combined, refinance locks made up just 14% of the month’s activity, returning to the low point in the cycle that was first reached in October. Overall lock volumes were up 8.6%

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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 company failed to adjust to a landscape of high mortgage rates, low inventory levels and fierce competition. billion in Q4 2022.

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Housing Wire

FEBRUARY 21, 2024

In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. As interest rates ease and housing inventory stabilizes, mortgage companies are likely to start ramping up their recruiting strategies. According to data from the U.S.

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