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. While most have their eyes on the horizon, HousingWire’s dedicated reverse-centric publication, Reverse Mortgage Daily (RMD), will look back one more time at a year of challenge.

Mortgage 367

Mortgage Government Business Lending 367

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Mortgage 530

Mortgage Inventory Retail Construction 530

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% billion in the previous quarter and the same quarter of 2023. from the $3.9

Mortgage 397

Mortgage Lending Business Finance 397

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.

Government 424

Government Mortgage Inventory Real Estate 424

Housing Wire

MARCH 7, 2024

homeowners with mortgages saw their home equity increase by 8.6% year over year in fourth-quarter 2023. billion at the end of 2023. billion at the end of 2023. Texas was the only state that posted an annualized equity loss (-$6,000) in Q4 2023. of all mortgaged properties. of all mortgaged properties.

Mortgage 449

Mortgage Real Estate 449

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.

Mortgage 355

Mortgage Marketing Investors Lending 355

Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. Weekly inventory change (Dec.

Inventory 506

Inventory New Listings Housing Market Mortgage 506

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns. billion in Q3 2023 and $25.1

Mortgage 409

Mortgage Inventory Marketing Lending 409

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%

Valuation 422

Valuation Mortgage Inventory Marketing 422

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%. from $490 billion in the second quarter. year over year as of the third quarter of last year.

Lending 445

Lending Inventory Mortgage Finance 445

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 398

Loan Officers Technology Investing Realtors 398

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 391

Mortgage Retail Business Finance 391

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 455

Real Estate Agent Real Estate Buyers Realty 455

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 2022.

Marketing 391

Marketing Retail Mortgage Investing 391

Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

Mortgage 513

Mortgage Inventory New Listings Housing Market 513

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. Volumes are down The macroeconomic landscape adds more pressure on mortgage volumes, which are already shrinking. billion in Q4 2023 and up from $7.7

Mortgage 389

Mortgage Retail Lending Business 389

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. Rate relief in 2024 At the beginning of November, Freddie Mac ’s Primary Mortgage Market Survey index hovered just below 8%. million in Q2 2023.

Mortgage 522

Mortgage Sellers Investors Marketing 522

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The 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 6.81% as of July 6, up significantly from last week ’s 6.71%.

Mortgage 382

Mortgage Construction Inventory Investors 382

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. Mortgage rates have averaged close to the 7% mark as of Feb.

Lending 502

Lending Mortgage Buyers Government 502

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 367

Technology Legal Mortgage Contracts 367

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Zap Mortgage (no.294) Zap Mortgage (no.294) The companies are U.S.-based,

Loan Officers 366

Loan Officers Mortgage Development Lending 366

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

Housing Market 396

Housing Market Mortgage Marketing Inventory 396

Housing Wire

JANUARY 12, 2023

Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way. “The mortgage market began 2023 on a positive note, with a decline in mortgage rates leading to an uptick in refinance applications.

Mortgage 491

Mortgage Marketing Investors Clients 491

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 384

Law Real Estate Sellers Investors 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. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. million GAAP net income in 2023 — lower than the figure of $864.8

Valuation 364

Valuation Business Mortgage Loan Officers 364

Housing Wire

JANUARY 30, 2024

A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year. A growing number of nonbank mortgage lenders have recently rolled out down payment assistance (DPA) programs to increase their origination share in a challenging mortgage environment.

Landlords 487

Landlords Housing Market Mortgage Design 487

Housing Wire

MARCH 1, 2023

For more than a decade, HousingWire’s Tech100 program has identified and recognized the most innovative technology companies serving the mortgage and real estate industries. The 2023 Tech100 Mortgage winners are continuing to bring innovation to the mortgage process – from origination to closing, and servicing to secondary markets.

Mortgage 364

Mortgage Valuation Technology Appraisal 364

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% During the four weeks ending Nov.

Inventory 381

Inventory Buyers Mortgage Marketing 381

Housing Wire

DECEMBER 22, 2022

Mortgage industry executives, analysts and economists have started to place their bets on where mortgage rates will settle in 2023 amid the Federal Reserve’s tightening monetary policy and the fears of an economic recession. Mortgage rates averaged 3.05% one year ago.) at the end of 2023.

Mortgage 441

Mortgage Tools Finance Housing Market 441

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 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity from the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

Home Value 411

Home Value Finance Mortgage Marketing 411

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 But we can’t blame high mortgage rates for the deficit in transactions last year. million existing homes were sold, the fewest since 1995.

Inventory 435

Inventory Realtors Housing Market Construction 435

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

Mortgage 410

Mortgage Housing Market Retail Contracts 410

Housing Wire

JANUARY 31, 2024

RIP 2023 — Whew, that was a year none of us would like to live through again. RealTrends has been tracking housing market data since 1979, including households, home sales, average mortgage rates , etc. The factor for 2023 was 3.58%. Another startling fact was that 2023 saw just over 4 million existing home sales.

Housing Market 408

Housing Market Marketing Inventory Business 408

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 360

Legal Contracts Marketing Mortgage 360

Housing Wire

AUGUST 14, 2023

Though its overall mortgage strategy has apparently not changed, Rocket Mortgage is undoubtedly ramping up its initiative to hire local loan officers to win purchase business. The Detroit-based lender plans to recruit up to 500 LOs by the end of 2023, more than triple the current local LO pool.

Loan Officers 353

Loan Officers Mortgage Real Estate Agent Real Estate 353

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . last week, are expected to drift down and end 2023 around 5.2%,” he said. .

Mortgage 420

Mortgage Housing Market Buyers Sellers 420

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. We haven’t broken either yet.

Mortgage 467

Mortgage Inventory New Listings Housing Market 467