Housing Wire

OCTOBER 25, 2022

Recession is coming, according to the Mortgage Bankers Association. . The MBA forecasts a recession in the first half of 2023, with the unemployment rate at 5.5% The economic dislocation will bring mortgage originations down to $2.05 trillion in 2023, compared to $2.26 trillion in 2023, compared to $2.26

Mortgage 358

Mortgage Contracts Insurance Business 358

Housing Wire

MARCH 19, 2024

Florida-based brokerage Atlantic Trust Mortgage has asked a Michigan federal court to dismiss a lawsuit filed by United Wholesale Mortgage (UWM) that alleges a violation of an amended agreement. UWM settled with Mid Valley Funding in June 2023. Atlantic Trust entered into a wholesale broker agreement with UWM in 2018.

Mortgage 381

Mortgage Law Brokerage Legal 381

Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% January marked a surge of people signing contracts to buy new homes. from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday.

Construction 432

Construction Contracts Buyers Development 432

Housing Wire

DECEMBER 26, 2022

It is not surprising that the mortgage industry can be one of the more challenging industries to work in. Here are three keys to help mortgage pros and their businesses survive while the mortgage industry contracts. To be a successful mortgage pro, it is important to collaborate and network with other professionals.

Mortgage 384

Mortgage Investing Contracts Business 384

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023? At the same time, there are some key trends I think will characterize the housing market in 2023.

Housing Market 420

Housing Market Marketing Inventory Buyers 420

Housing Wire

AUGUST 16, 2023

Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. over the week. from 13.6%

Mortgage 369

Mortgage Contracts Government Investors 369

Housing Wire

SEPTEMBER 6, 2023

Despite a slight drop in mortgage rates last week, mortgage applications fell to their lowest level since December 1996. 1, mortgage applications dropped 2.9% from the prior week , according to data from the Mortgage Bankers Association. Meanwhile, the adjustable-rate mortgage (ARM) share of activity decreased to 6.7%

Mortgage 421

Mortgage Contracts Inventory Buyers 421

Housing Wire

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. This year, RMBS issuance volumes are expected to contract further from 2022 due to the impact from elevated rates, high inflation and recession possibilities. .

Marketing 448

Marketing Investors Mortgage Contracts 448

Housing Wire

SEPTEMBER 13, 2023

The last time mortgage demand was this low, Toni Braxton’s “Un-break my heart” topped the Billboard charts. 8, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. It was the weakest reading for refinance applications since January 2023.

Mortgage 406

Mortgage Contracts Finance 406

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. That’s the takeaway from a group of economists at Fannie Mae , who slashed their forecast for 2023 this week. . in 2023, a slight improvement from the previous forecast, which predicted a 0.6% in 2022 and drop 0.5%

Housing Market 368

Housing Market Marketing Contracts Mortgage 368

Housing Wire

SEPTEMBER 6, 2023

The Consumer Financial Protection Bureau (CFPB) last week made a quiet change to its guidance related to the Real Estate Settlement and Procedures Act (RESPA), affirming that mortgage originators who partner with U.S. The change was confirmed through a LinkedIn post by HUD Deputy Assistant Secretary for Housing Counseling David Berenbaum.

Mortgage 412

Mortgage Contracts Real Estate Development 412

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. One projection for 2023 is an easier buying market for first-time buyers.

Buyers 479

Buyers Realtors Inventory Sellers 479

Housing Wire

MARCH 18, 2024

million plus interest, granted as an interim award in November 2023, to $150.2 million in its financial results for the fourth quarter of 2023, paid the amount in full on Feb. million in damages related to a breach of contract claim, plus interest and attorneys fees. million in net income in 2023, down from $475.5

Legal 401

Legal Contracts Technology Development 401

Housing Wire

APRIL 24, 2024

million it incurred in fourth-quarter 2023. million in Q4 2023 but up from a pretax loss of $19.6 million in Q1 2023. Meanwhile, the revenue growth compared to Q1 2023 was largely due to higher overall origination volumes and margins. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6

Lending 418

Lending Legal Contracts Mortgage 418

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 382

Marketing Mortgage Investors Sellers 382

Housing Wire

DECEMBER 13, 2022

As brokers and LOs close out a challenging year and set their sights on 2023, it could be tempting to take a pessimistic view. However, there are actionable steps and strategies they can take to ensure 2023 is as profitable as possible. How do you think mortgage professionals should approach the coming year?

Clients 397

Clients Technology Real Estate Agent Business 397

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. On a year-over-year basis, pending sales were up 1.3%.

Contracts 458

Contracts Housing Market Construction Inventory 458

Housing Wire

AUGUST 31, 2023

Mortgage rates ticked down modestly after job openings data for July came out yesterday, but rates remain elevated. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Aug. Other indices showed lower mortgage rates.

Mortgage 418

Mortgage Housing Market Contracts Buyers 418

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Therefore, we will follow the agreed upon contract and win damages.”

Contracts 441

Contracts Loan Officers Lending Retail 441

Housing Wire

JANUARY 26, 2024

The past three years in the mortgage industry were cutthroat, with origination volume shrinking, and while things are looking better for 2024 , lenders are still in a position where they must make bold moves to stem losses on the production side of the business, according to a report from Stratmor Group , a mortgage advisory firm.

Mortgage 462

Mortgage Contracts Business 462

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several.” Because most home sales take several months from contract to closing, the data likely includes some deals struck in September and October.

Buyers 396

Buyers Inventory Contracts Finance 396

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2023, reaching an annual rate of 670,000. in 2023, to $430,800, and increase by 3.5% in 2023, reaching an annual rate of 4.15

Inventory 406

Inventory Contracts Housing Market Realtors 406

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. The MBA data shows refinancings were 31.9%

Mortgage 372

Mortgage Marketing Loan Officers Contracts 372

Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.” in January.

Inventory 369

Inventory Buyers Housing Market Contracts 369

Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. retail residential mortgage applications. In addition, adjustable-rate mortgages rose 13.9%

Mortgage 384

Mortgage Loan Officers Investors Government 384

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed.

Buyers 479

Buyers Mortgage Real Estate Agent Contracts 479

Inman

FEBRUARY 7, 2024

After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs.

Mortgage 166

Mortgage Contracts Marketing 166

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. Movement filed a lawsuit in a U.S.

Contracts 412

Contracts Legal Mortgage 412

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. billion in mortgage loans. 2 in a U.S.

Retail 416

Retail Contracts Loan Officers Mortgage 416

Housing Wire

APRIL 20, 2022

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. Purchase mortgage applications were down 14% from the same week a year ago. As a result, other types of mortgage products are seeing renewed interest.

Mortgage 410

Mortgage Contracts Buyers 410

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions.

Mortgage 397

Mortgage Loan Officers New Listings Government 397

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgage 369

Mortgage Marketing Retail Construction 369

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.”

Lending 396

Lending Retail Contracts Construction 396

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

Loan Officers 420

Loan Officers Mortgage Buyers Inventory 420

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

Business 393

Business Advertising Inventory Contracts 393

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. billion in 2023 and expects a target production of $4 billion in 2024. Johnson estimates origination volume will be between $2 billion and $2.5

Loan Officers 384

Loan Officers Mortgage Lending Retail 384