article thumbnail

Compass misses free cash-flow goal but remains optimistic

Housing Wire

million in 2022. Compass’ other financial results also showed improvements over 2022. million was an improvement over the $158 million net loss in Q4 2022. million) was nearly half of what it was in 2022, at $601.5 million) was nearly half of what it was in 2022, at $601.5 billion, its net loss of $83.8

Agents 413
article thumbnail

Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. It makes sense that the investors are asking lenders to ward off as many problems as possible [via QC efforts] before a loan is made.

Investors 414
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to maintain loan quality in a rapidly changing market

Housing Wire

HousingWire recently spoke to Donna Gibson, COO and president of QC Ally, about fraud prevention and loan quality outlook for the rest of 2022. HousingWire: In this time of market change and as we head towards the last quarter of 2022, what are the hot topics in risk, fraud prevention and loan quality? increase) and property (22.6%

Marketing 370
article thumbnail

Glenn Kelman says Redfin has ‘very good defenses’ for commission lawsuit

Housing Wire

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. Those plans can be deferred from 2022 to 2023, but not forever.” million in Q3 2022.

Agents 441
article thumbnail

What’s new in QC and Compliance

Housing Wire

Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and compliance. TG: Fannie Mae offers numerous training and education resources to help lenders improve loan quality, which lenders can find online through its Loan Quality Learning Center.

Lending 404
article thumbnail

Why non-QM lending is not going away

Housing Wire

HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. HW: What strategies can loan officers employ to win with non-QM in the second half of 2022? We have trained originators on non-QM while they closed their first non-QM loan.

Lending 382
article thumbnail

As fundraising environment freezes, power buyer UpEquity cuts staff

Housing Wire

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. Over the last two years –when mortgage rates were minuscule and refi opportunities were abundant – UpEquity was able to raise over $70 million from investors.

Buyers 393