Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The Detroit-headquartered lender reported a GAAP net loss of $233 million in Q4 2023, following a GAAP net gain of $115 million in Q3. Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2

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Housing Wire

MARCH 28, 2024

the parent of digital lender Better.com , narrowed its net loss between the third and fourth quarters of 2023 by more than 80%, driven by expense cuts to its platform and marketing efforts. million in Q4 2023, down from a loss of $339.4 For all of 2023, the New York-based digital lender reported a GAAP net loss of $534.4

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Loan Officers Technology Investing Realtors 430

Housing Wire

FEBRUARY 2, 2024

In a high-rate environment, Pennymac Financial Services delivered profits in 2023, mainly due to the performance of its servicing portfolio. million net income in 2023, down from $475.5 billion in unpaid principal balance (UPB) in 2023, down 9% year over year. million in Q4 2023, compared to a pretax income of $101.2

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Technology Legal Mortgage Contracts 406

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. In fact, in the final days of 2023, J.P. Market indicators so far appear tentatively promising.

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Lending Inventory Mortgage Finance 466

Housing Wire

JANUARY 22, 2024

After a year of challenge in the reverse mortgage industry, the major lenders in the industry look a bit different for calendar year 2023 when compared with recent years past. Reduced volume, a challenging mortgage rate environment and industry consolidation has contributed to some of the broader changes.

Mortgage 430

Mortgage Finance Business Marketing 430

Housing Wire

JANUARY 31, 2024

RIP 2023 — Whew, that was a year none of us would like to live through again. The factor for 2023 was 3.58%. Another startling fact was that 2023 saw just over 4 million existing home sales. That is how bad 2023 was for those of us in this business. Existing home prices as of the end of 2023 trade at 4.73

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Housing Wire

MARCH 12, 2024

loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. million in 2023, compared to a $457.6 In 2023, a year marked by lower volume throughout the market, loanDepot’s revenues decreased 22% to $974 million. billion in 2023. million in Q4 2023, compared to $25.4

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Legal Contracts Marketing Mortgage 411

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). The trade group also projected the 30-year fixed mortgage rate to average around 6.9% in the next quarter.

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Valuation Mortgage Inventory Marketing 441

Housing Wire

MARCH 14, 2024

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. million in 2023, down from a non-GAAP net loss of $182.2 million in 2022 , according to data shared in its fourth-quarter and full year 2023 earnings call.

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Mortgage Retail Business Finance 419

Housing Wire

MARCH 11, 2024

Remote online notarization (RON) platform NotaryCam expanded its independent notary platform customer base by 46% in 2023, according to an announcement on Monday. In addition to expanding its notary platform customer base, NotaryCam also grew the number of loss-mitigation-related RON transactions it was part of in 2023 by 115%. “We

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Law Real Estate Sellers Investors 418

Housing Wire

APRIL 23, 2024

This impact is evident in the achievements of HousingWire’s 2023 Marketing Leaders honorees. Take a look below to see some of last year’s winners and the accomplishments that helped earn them their win.

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Marketing Project Management Advertising Real Estate 310

Housing Wire

MARCH 12, 2024

San Diego-based lender Guild Mortgage lost money in 2023 but grew its market share through a focus on purchase mortgage originations, it reported in an earnings call on Tuesday. million in 2023, compared to net income of $328.6 million, down from $29 million in Q3 2023. million in 2023 — including a net loss of $26.8

Marketing 420

Marketing Retail Mortgage Investing 420

Housing Wire

FEBRUARY 7, 2024

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. million GAAP net income in 2023 — lower than the figure of $864.8 In 2023, Rithm acquired $1.4 million in 2023. billion in Q4 2023, lower than the $11.1

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Valuation Business Mortgage Loan Officers 412

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 If there had been more listings on the market in 2023, we would have had more home sales.” million existing homes were sold, the fewest since 1995.

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Inventory Realtors Housing Market Construction 441

Housing Wire

JANUARY 17, 2024

20, 2023 , will have material impact on its fourth quarter 2023 financial results, according to a document filed with the Securities and Exchange Commission last Friday. 29, 2023. During the third quarter of 2023 , First American reported $1.481 billion in revenue and a net loss of $1.2 million.

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Insurance Business Finance Real Estate 420

Housing Wire

DECEMBER 8, 2023

High mortgage rates, a lack of inventory and elevated home prices have turned 2023 into the least affordable year for homebuyers on record. For an American earning $78,642, the country’s median income in 2023, the purchase of a median-priced home of $408,806 meant spending 41.4% in 2022. “A

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Inventory Buyers Mortgage Marketing 426

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. to finish with 1,174 loans in 2023. “It’s

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Retail Mortgage Business Marketing 408

Housing Wire

DECEMBER 13, 2023

It was the fourth pause recorded in 2023. In 2023, the Fed hiked the benchmark federal funds rate by a quarter-point at four meetings, most recently in July. No industry has been harder hit by the Fed’s monetary policy in 2023 than mortgage. million in Q2 2023. at its last meeting of the year on Wednesday.

Mortgage 522

Mortgage Sellers Investors Marketing 522

Housing Wire

JANUARY 5, 2023

February/March 2023. April/May 2023. June/July 2023. August/September 2023. October/November 2023. December 2023 / January 2024. The issue concludes with a wrap up of the latest news across the industry, in mortgage, real estate, fintech, politics and more.

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Real Estate Mortgage 384

Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). billion in 2023. billion from $4.2

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Mortgage Lending Retail Business 442

Housing Wire

JANUARY 29, 2024

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. Rank Company in 2023 Market share Company in 2022 Rank Change 1 FAR 36.9% AAG Hold* 2 Longbridge 21.5% billion for a 36.9%

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Mortgage Finance Home Value Design 444

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. is more than 4 percentage points higher than for repeat buyers in recent months.

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Lending Mortgage Buyers Government 504

Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

Buyers 458

Buyers Design Construction Marketing 458

Housing Wire

JANUARY 26, 2024

There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. In other responses, companies will request follow up information from consumers.”

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Mortgage Finance Investing Business 433

Sacramento Appraisal Blog

JANUARY 11, 2024

On paper, it looked like home prices should have tanked in 2023 since we had some of the worst sales volume ever. Any […] The post It was a weird housing market in 2023 first appeared on Sacramento Appraisal Blog. Yet, prices didn’t dip that much. Today, let’s talk about what happened in a big recap.

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Housing Market Marketing Appraisal 310

Housing Wire

JANUARY 30, 2024

A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year. This brought the nationwide tally up to 2,294, according to Down Payment Resource’s fourth-quarter Homeownership Program Index (HPI) report.

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Landlords Housing Market Mortgage Design 511

Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Here’s what that buyer behavior in the second half of 2022 is telling us about two key retail market trends in 2023: 1. Cincinnati and Miami.

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Retail Sellers Buyers Market Value 488

Housing Wire

MARCH 15, 2024

Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 During Finance of America Companies Q4 earnings presentation last week, the company cited the Q3 2023 RMMI figure of $13.08 trillion, the third quarterly fall in the last year.

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Home Value Finance Mortgage Marketing 431

Housing Wire

JANUARY 9, 2024

Is 2023 a year to forget? In the case of the mortgage industry, 2023 was not a pretty one. The rapid pace of change from the highs of 2021 to 2023 happened at breakneck speed, driven by one of the most aggressive monetary tightening cycles in history. That’s just what 2023 proved to be. According to the Thomvest U.S.

Real Estate 407

Real Estate Valuation Business Marketing 407

Housing Wire

JANUARY 31, 2024

annualized decline in net premiums and fees during the fourth quarter of 2023 , which contributed heavily to a 12.8% As we have discussed on previous earning calls, 2023 was a challenging real estate market ,” Carolyn Monroe, the president and CEO of Old Republic National Title Holding Co. decrease for all of last year. year over year.

Insurance 382

Insurance Modernization Technology Real Estate 382

Housing Wire

FEBRUARY 26, 2024

Upon examining the financial performance across various gross revenue categories, 2023 reveals a distinctive pattern in net operating percentages as they relate to increasing revenue levels, according to the Streamlined Quarterly Team Benchmarking Report , which looked at the financial performance of more than 200 teams across the nation.

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Business Real Estate Clients Agents 408

Housing Wire

MARCH 27, 2024

In 2023, Real recorded 48,905 sides, up 14,721 sides from 2022, and a sales volume of $21.2 Though Real made progress financially, like virtually all of its brokerage peers it was in the red in 2023. While Srivatsaa is pleased with the growth his firm recorded in 2023, he has even bigger plans in store for 2024. billion, up $6.80

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Brokerage Agents Training Business 458

Housing Wire

DECEMBER 7, 2023

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Modernization Retail Valuation Insurance 408

Housing Wire

SEPTEMBER 19, 2023

Title premium volume continued to trend downward during the second quarter of 2023 as high mortgage rates and low housing inventory continued to plague the real estate industry. Overall, title premium volume is down 40% year-over-year in the first half of 2023. Rounding out the top 10 for Q2 2023 were Westcor Land Title Insurance Co.

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Insurance Real Estate Marketing Inventory 403

Housing Wire

JANUARY 2, 2024

2023 is in the rearview mirror — a year of tumult, reduced volume and a wave of industry exits and consolidations. However, the business continued to feel the ongoing impact of RMF’s collapse throughout 2023, and it will likely persist well into the new year.

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Mortgage Government Business Lending 414

Housing Wire

AUGUST 8, 2023

million in the second quarter of 2023, well below the $17.6 million in the second quarter of 2023, down from a gain of $14.6 We expect these industry wide challenges to continue and to impact our results in the second half of 2023,” he said. He also highlighted improvements in total listings for the two first quarters of 2023.

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Brokerage Real Estate Advertising Inventory 362

Housing Wire

SEPTEMBER 26, 2023

home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” National Index posted an increase of 0.6%, while the 10-City posted a 0.8% increase and 20-City Composite a 0.9%

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Inventory Housing Market Lending Buyers 458