Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

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Mortgage Clients Business Law 345

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Construction Supply Chain Inventory Housing Market 432

Housing Wire

APRIL 24, 2024

Cooper Group unveiled strong financial results during the first quarter of 2024, buoyed in part by a strong servicing and subservicing business. in Q1 2024, up from 12.5% Cooper’s consumer-first platform into a cloud-native core, then licensing the resulting cloud-based platform to banks and independent mortgage companies.

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Technology Lending Investing Contracts 294

Housing Wire

NOVEMBER 30, 2023

Mortgage rates headed lower this week as the 10-year Treasury yield dropped below 4.3% The 30-year, fixed mortgage rate averaged 7.22% for the week ending Nov. 30, according to Freddie Mac ‘s Primary Mortgage Market Survey. Bright MLS ’ 2024 forecast indicates that mortgage rates will fall to 6.5% on Thursday.

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Mortgage Inventory Tools Investors 505

Housing Wire

JANUARY 1, 2024

Affordability remains a critical issue in virtually all conversations about housing, and few people understand that reality better than leading housing and mortgage industry advocacy groups. They may be softer, but you’re doubling the expenditures on a mortgage with similar prices.

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Insurance Government Mortgage Inventory 424

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. That’s a 0.50% difference in rates.

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Mortgage Inventory New Listings Housing Market 403

Housing Wire

MAY 15, 2024

This is an excerpt of a HousingWire Research report titled: What Everyone Needs to Know about Mortgage Rate Lock-in, by Altos President Mike Simonsen. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. million in January 2021 (when mortgage rates were 2.7%) fell to 3.9

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Housing Wire

MARCH 1, 2024

But as the calendar flipped to 2024 and as we inch closer to the spring selling season, Fischer said things have started to pick up. in mid-January 2024. as of February 29, 2024. 23, 2024, the 90-day average for single family listings in the state was 9,927, down from 14,314 single family listings in late February 2020. “It

Housing Market 403

Housing Market Marketing Inventory Construction 403

Housing Wire

NOVEMBER 14, 2023

Government sponsored-enterprises (GSEs) Fannie Mae and Freddie Mac will each have a $70 billion cap for multifamily loan purchases in 2024, the Federal Housing Finance Agency (FHFA) announced Tuesday. To prevent market disruption, FHFA will not reduce the cap if the size of the 2024 market is smaller than initially projected.

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Finance Government Lending Business 305

Housing Wire

JANUARY 19, 2024

Local community developers bidding on foreclosures in the second half of 2023 are signaling a slowdown in U.S. home price appreciation in the first half of 2024, with a rising risk that appreciation will dip back into negative territory. These markets are more likely to see continuing home price appreciation in early 2024.

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Retail Marketing Realtors Real Estate 405

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

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Investors Real Estate Lending Loan Officers 382

Housing Wire

MAY 20, 2024

According to Todman, the industry has been asking for years for HUD to be helpful on assumable mortgages, which “is a complex transaction that she has “come to understand that sometimes the juice is not worth the squeeze.” ” There was a “hue and cry,” Todman said. .

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Mortgage Modernization Housing Market Finance 355

Appraisal Buzz

APRIL 23, 2024

Department of Housing and Urban Development. New home sales have generally been strong so far in 2024, despite higher mortgage rates and rising home prices. New home sales have generally been strong so far in 2024, despite higher mortgage rates and rising home prices. The average sales price was $524,800.

Mortgage 369

Mortgage Inventory Development Finance 369

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. The Fed next meets on Jan.

Mortgage 527

Mortgage Inventory Retail Construction 527

Housing Wire

DECEMBER 18, 2023

A decline in mortgage rates since November helped end four months of declines in builder confidence. Recent economic readings suggest improving housing conditions in 2024. According to NAHB Chief Economist Robert Dietz, the peak in mortgage rates for this cycle is behind us, which should help “to spur buyer demand in the coming months.”

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Mortgage Development Buyers Housing Market 459

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

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Loan Officers Mortgage Retail Lending 388

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. More than 50 mortgage loan officers were let go. This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb.

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Human Resources Mortgage Loan Officers Finance 388

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations. The rule, originally proposed in March 2023 , takes into consideration stakeholder comments.

Mortgage 415

Mortgage Finance Insurance Lending 415

Housing Wire

NOVEMBER 13, 2023

Big Four title firm Old Republic is selling its mortgage insurance business to Arch Capital Group Ltd., and its wholly-owned subsidiaries that together comprise Old Republic’s run-off mortgage insurance business. The acquisition is still subject to regulatory approval, but it is expected to close during the first half of 2024.

Insurance 385

Insurance Mortgage Business Development 385

Housing Wire

MAY 3, 2024

A bill that will permanently allow for remote reverse mortgage counseling via telephone or video conferencing services in the state of Massachusetts has been signed into law by Gov. Department of Housing and Urban Development (HUD)-approved reverse mortgage counselors being active in the state, among other issues.

Mortgage 381

Mortgage Law Business Development 381

Housing Wire

MAY 23, 2024

A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and avoid the possibility of foreclosure. This is according to a look at the reverse mortgage product category published by Newsweek.

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Housing Wire

MARCH 13, 2024

Guild Mortgage released its fourth-quarter and full year 2023 earnings report this week, showing that it narrowed its focus on purchase originations and increased its market share on the forward lending side, but it still sustained a loss. Guild’s in-house retail reverse mortgage originations reached $49.8 million for the year.

Mortgage 343

Mortgage Lending Retail Investing 343

Housing Wire

MAY 18, 2024

However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen. When mortgage rates increase, demand falls and the price-cut percentage grows. We have a much more normal marketplace in 2023 and 2024.

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New Listings Inventory Mortgage Contracts 440

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgage 342

Mortgage Tools Design Development 342

Housing Wire

MARCH 4, 2024

Three Bayview Asset Management -owned mortgage servicers are seeking to halt a plaintiff’s filing in a data breach lawsuit, citing an overabundance of confidential information shared about the incident, National Mortgage News first reported. and Fairway Independent Mortgage Corp. The objection, filed on Feb.

Mortgage 348

Mortgage Clients Development Legal 348

Appraisal Buzz

MAY 3, 2024

Usherpa , which offers a customer relationship engagement platform (REP), is now a preferred partner with The Mortgage Collaborative (TMC), a mortgage cooperative. TMC’s growing network of mortgage lenders account for approximately 10% of the mortgage volume originated in the U.S. “We

Loan Officers 195

Loan Officers Mortgage Technology Business 195

Eyes on Housing

FEBRUARY 26, 2024

Stable mortgage rates at the beginning of 2024 helped new home sales to increase in January. Department of Housing and Urban Development and the U.S. Sales of newly built, single-family homes in January increased 1.5%

Development 153

Development Mortgage Construction 153

Housing Wire

MAY 23, 2024

In the first quarter of 2024, 38% of a typical household’s income was needed to make a mortgage payment on a median-priced, new single-family home in the U.S. This calculation includes median home prices , assuming a 10% down payment, as well as taxes, homeowners insurance and private mortgage insurance.

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Supply Chain Insurance Training Construction 368

Housing Wire

DECEMBER 19, 2023

Department of Housing and Urban Development and U.S. Looking at data on residential permits, Sturtevant forecasts that “new single-family housing construction will continue to be robust heading into 2024, though apartment construction will be slow.” Despite the elevated mortgage rates , homebuilders’ sales have increased this year.

Construction 391

Construction Mortgage Development Buyers 391

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgage 348

Mortgage Marketing Insurance Sellers 348

Housing Wire

FEBRUARY 28, 2024

mortgage lender Fairway Independent Mortgage Corp. Fairway promptly implemented the patch after it was released by the developer to rectify the newly identified vulnerability,” Ramsey wrote. The company will have up to $17 million in additional expenses related to the incident in the first quarter of 2024. Top 10 U.S.

Mortgage 335

Mortgage Development Business Marketing 335

Housing Wire

FEBRUARY 2, 2024

With ongoing liquidity challenges and a continuing lag in Home Equity Conversion Mortgage (HECM) case numbers, reverse mortgage business in 2024 started off with a bit of a whimper. New York passed a law in 2021 that allows for proprietary reverse mortgages to be conducted on co-ops, but HECM loans do not qualify.

Mortgage 351

Mortgage Finance Business Law 351

Housing Wire

MAY 15, 2024

From 2010 to 2024, the reverse mortgage industry sought to allow remote reverse mortgage counseling in the state of Massachusetts, citing an insufficient number of actual counselors and logistical challenges for senior clients. Sponsored primarily by then-Sen. Logistically difficult’ Industry reactions at the time were swift.

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Logistics Mortgage Law Business 362

Housing Wire

APRIL 25, 2024

Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering by HousingWire on Monday, April 21, 2024. Photo credit: AJ Canaria Reverse mortgages became an unexpectedly prominent topic during certain parts of The Gathering by HousingWire , held earlier this week in Scottsdale, Arizona.

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Mortgage Finance Real Estate Best Value 293

Housing Wire

MAY 28, 2024

Ocwen Financial Corp , the parent company of PHH Mortgage Corp. and its reverse mortgage subsidiary Liberty Reverse Mortgage , announced on Tuesday that its shareholders have approved the company’s planned rebranding initiative to Onity Group. Shareholders do not need to take any action, the company said.

Contracts 354

Contracts Mortgage Design Business 354

Housing Wire

MARCH 8, 2024

The Consumer Financial Protection Bureau (CFPB) will be closely scrutinizing what it described as “junk fees” imposed on borrowers when closing a mortgage. Its new priority has provoked strong criticism from the mortgage industry. And, as they are fixed, they have an “outsized impact on borrowers with smaller mortgages,” it added.

Mortgage 433

Mortgage Legal Insurance Finance 433

Housing Wire

DECEMBER 4, 2023

Freddie Mac rolled out standardized subordinate lien documents for subordinate mortgages offered by down payment assistance (DPA) providers to facilitate easier and greater use of DPA program. Freddie Mac’s standardized mortgage documents launch follows the agency’s rollout of a down payment assistance tool in October.

Mortgage 388

Mortgage Tools Finance Construction 388