Housing Wire

MARCH 26, 2024

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). Over the course of 2023, the government-sponsored enterprises (GSEs) completed 192,897 foreclosure prevention actions. The rate for U.S.

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Government Mortgage Inventory Real Estate 465

Housing Wire

APRIL 10, 2024

billion in 2023, according to the latest Federal Bureau of Investigation Internet Crime Report , published earlier this week. In 2023, the FBI noted that it fielded 880,418 cybercrime complaints, a 10% uptick from the year prior. Cybercrime losses rose to a record high of $12.8

Real Estate 430

Real Estate Tools Investing Business 430

Housing Wire

JUNE 18, 2024

Last month’s reading marked the smallest monthly increase on a seasonally adjusted basis since January 2023. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April. National home prices were up 7.16% year over year in May, according to Redfin, down from 7.25% growth in April.

New Listings 440

New Listings Sellers Buyers Mortgage 440

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. million in 2023, compared to a profit of $719.4 The GAAP net loss in 2023 was $69.7 billion in mortgages in 2023, lower than the $127.3 billion in Q3 2023 and $25.1 billion in Q3 2023 and $25.1 billion in 2023, including $20.6

Mortgage 421

Mortgage Inventory Marketing Lending 421

Housing Wire

MARCH 12, 2024

in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5 of overall U.S. About 29.5%

Real Estate Agent 458

Real Estate Agent Real Estate Buyers Realty 458

Appraisal Buzz

JULY 5, 2024

billion in full-year 2023 losses. property/casualty insurers show that underwriting losses in 2023 resembled those in a challenging 2022. billion in 2023 from $44 billion the year before, a 19% reduction. in 2023, but incurred losses and loss adjustment costs increased by 10.1 percent in 2023. It dropped to $35.7

Insurance 195

Insurance Supply Chain Contracts Investing 195

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.

Lending 466

Lending Inventory Mortgage Finance 466

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

Technology 408

Technology Legal Mortgage Contracts 408

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

Mortgage 432

Mortgage Clients Lending Business 432

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 431

Mortgage Finance Business Marketing 431

Housing Wire

MAY 22, 2024

Mortgage fraud risk saw a modest uptick toward the end of 2023, according to CoreLogic ’s latest Mortgage Application Fraud Risk Index , although it remained largely stable on a year-over-year basis. The index reached 127 in Q4 2023, marking a 2.7% increase from the previous quarter, but compared to Q4 2022, the index decreased by 1%.

Mortgage 443

Mortgage Government Marketing 443

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

Housing Market 449

Housing Market Marketing Inventory Business 449

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.

Real Estate 384

Real Estate Mortgage 384

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

Valuation 417

Valuation Business Mortgage Loan Officers 417

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

Loan Officers 431

Loan Officers Technology Investing Realtors 431

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

Inventory 429

Inventory Buyers Mortgage Marketing 429

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 Investors Sellers Marketing 522

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.

Inventory 441

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.

Insurance 421

Insurance Business Finance Real Estate 421

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.

Retail 490

Retail Sellers Buyers Market Value 490

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

Legal 416

Legal Contracts Marketing Mortgage 416

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.

Valuation 441

Valuation Mortgage Inventory Marketing 441

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

Law 420

Law Real Estate Investors Sellers 420

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.

Mortgage 421

Mortgage Retail Business Finance 421

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 421

Marketing Retail Mortgage Investing 421

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.

Housing Market 316

Housing Market Marketing Appraisal 316

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

Mortgage 446

Mortgage Lending Retail Business 446

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%

Mortgage 450

Mortgage Finance Home Value Design 450

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

Retail 417

Retail Mortgage Business Marketing 417

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.”

Mortgage 437

Mortgage Finance Investing Business 437

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 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.

Landlords 511

Landlords Housing Market Mortgage Insurance 511

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 409

Real Estate Valuation Business Marketing 409

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.

Lending 504

Lending Mortgage Buyers Government 504

Sacramento Appraisal Blog

JANUARY 3, 2023

What’s the real estate market going to do in 2023? The post Real estate trends to watch in 2023 first appeared on Sacramento Appraisal Blog | Real Estate Appraiser. Nobody has a crystal ball, but here are some emerging trends. Scroll quickly or digest slowly.

Real Estate 399

Real Estate Appraisal Marketing Inventory 399

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 391

Insurance Modernization Technology Real Estate 391

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.

Brokerage 366

Brokerage Real Estate Advertising Inventory 366