Inman

FEBRUARY 29, 2024

Fannie and Freddie's federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models.

Mortgage 175

Mortgage 175

Housing Wire

NOVEMBER 22, 2023

With mortgage rates having previously soared to around 8% , existing home sales will likely decline further to bottom out in early 2024. The good news is that sales will rebound as mortgage rates are expected to decline, Fannie Mae’s Economic and Strategic Research (ESR) group, said in its November commentary. million in 2025.

Housing Market 424

Housing Market Mortgage Realtors Business 424

Housing Wire

OCTOBER 16, 2023

The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. at the end of 2025 as Treasury rates decline and as the spread narrows.

Mortgage 488

Mortgage Marketing Inventory Technology 488

Housing Wire

JANUARY 26, 2024

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. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. in 2025 to reach $405,200.

Contracts 450

Contracts Housing Market Construction Inventory 450

Housing Wire

DECEMBER 26, 2023

Kyle Joseph, a specialty finance equity research analyst at Jefferies , believes that the worst of the current mortgage cycle may be behind us, a sentiment shared by most analysts covering this industry. Mortgage rates will moderate down to about 6% to 6.25%.” ” Kornfeld expects mortgage originations to range from $1.8

Mortgage 502

Mortgage Inventory Marketing Finance 502

Appraisal Buzz

APRIL 25, 2024

“Meaningful gains will only occur with declining mortgage rates and rising inventory,” Yun says. million in 2025. in 2025 to $403,800. to $440,500 in 2025. NAR forecasts that existing-home sales will rise by 9% in 2024 to 4.46 million (from 4.09 million 2023) and another 13.2% Housing starts are expected to rise by 1.2%

Inventory 195

Inventory Construction Realtors Appraisal 195

Housing Wire

OCTOBER 2, 2023

Mortgage companies raising debt in the current high mortgage rates landscape is a sign that market conditions are improving, although a recovery from the downturn may come later than expected, analysts told HousingWire. And recent transactions show that there’s an appetite among investors for debt in the mortgage space.

Mortgage 424

Mortgage Marketing Investors Investing 424

Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

Mortgage 393

Mortgage Loan Officers Inventory Buyers 393

Housing Wire

DECEMBER 7, 2023

Pennymac will use the proceeds of the offering to repay $650 million in debt due in October 2025. The debt being replaced has maturity in 2025 and a 5.357% interest rate. Other mortgage companies also faced high demand for debt issued this year. In September, Freedom Mortgage raised $1.3

Investors 380

Investors Mortgage Finance 380

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. Proceeds from the offering will be used to repay a portion of the Company’s secured term notes due 2025 and for other general corporate purposes,” Pennymac said in an 8-K filing with the Securities and Exchange Commission (SEC).

Contracts 404

Contracts Investing Mortgage Investors 404

Housing Wire

JANUARY 24, 2024

28, 2025, and loans delivered into MBS with issue dates on or after Mar. The credit must be provided through the transaction, such as being applied to down payment and closing costs, including escrows and mortgage insurance premiums. 1, 2024, to Feb. 1, 2024, to Feb.

Insurance 471

Insurance Government Mortgage Marketing 471

Housing Wire

MARCH 4, 2024

Rithm Capital , a New York-based asset manager with a focus on real estate — and the parent of multichannel lender Newrez — is the latest company in the mortgage space to issue debt. The tender offer will expire on April 1 unless it is extended or terminated early by the company. Rithm posted $532.7 million in GAAP net income in 2023.

Investing 414

Investing Real Estate Mortgage Buyers 414

Housing Wire

MARCH 5, 2024

by early 2025. Home prices further increased in late 2023 despite high mortgage rates , which surged to the highest level since the beginning of the millennium,” Selma Hepp, chief economist for CoreLogic, said in a statement. But the data provider forecasts yearly growth to begin slowing in the coming months and fall to 2.6%

Mortgage 442

Mortgage Marketing Inventory Housing Market 442

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 414

Loan Officers Mortgage Buyers Inventory 414

Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. But some financial advisers are hesitant to recommend the strategy.

Bracketing 424

Bracketing Clients Law Finance 424

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications. What’s going on with mortgage rates?

Mortgage 424

Mortgage Inventory Marketing Retail 424

Housing Wire

MARCH 23, 2023

historical data to support credit model updates in the first quarter of 2025. By the fourth quarter of 2025, the FHFA will have incorporated credit score model updates into capital and pricing. The FHFA would begin delivering and disclosing FICO 10T and VantageScore 4.0 In a letter dated Nov.

Government 433

Government Finance Mortgage Marketing 433

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 433

Mortgage Loan Officers Finance Buyers 433

Housing Wire

NOVEMBER 15, 2023

Michigan-based United Wholesale Mortgage (UWM) wants to court more brokers by offering no-cost appraisals on 1-0 temporary rate buydowns amid fierce competition in the industry. The escrow account is funded by either the seller, builder or lender via a lump-sum payment at closing.

Appraisal 424

Appraisal Real Estate Agent Sellers Government 424

Housing Wire

MAY 31, 2023

Hanson’s promotion comes at a time when the lender is focused on propelling forward its Vision 2025 strategic plan, which includes rightsizing its operations as the company is in the red. The company expects higher production and a further reduction in controllable expenses that will help the lender narrow losses in Q2.

Marketing 370

Marketing Development Mortgage Loan Officers 370

Housing Wire

NOVEMBER 16, 2023

The parties announced on Thursday that Change will remain a certified CDFI until the lender’s next application related to the fiscal year 2025 is determined. A federal judge sided with Change in September, allowing the lender to continue its mortgage offerings until at least December.

Lending 413

Lending Finance Contracts Development 413

Housing Wire

DECEMBER 19, 2023

The group projects a return to growth in 2025. Since the beginning of November, mortgage applications have rebounded approximately 15%. Even though Jerome Powell announced three rate cuts in 2024, Fannie Mae Economic and Strategic Research (ESR) group continues to forecast a modest downturn in 2024.

Inventory 433

Inventory Mortgage Housing Market Finance 433

Housing Wire

JANUARY 3, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services issued pink slips to more than 80 employees in November as it faced tough headwinds in 2023. Pennymac ranked as the second-largest mortgage lender, trailing United Wholesale Mortgage (UWM), in the first nine months of 2023, according to data from Inside Mortgage Finance.

Loan Officers 414

Loan Officers Development Investors Finance 414

Housing Wire

JULY 31, 2023

mortgage lender, has long described itself as a “one-stop mortgage shop.” But it has built its reputation on its expertise in mortgage. So what exactly is a “one-stop mortgage shop?” “We Smith, senior executive vice president and president of mortgage at Flagstar. Flagstar Bank , a top-25 U.S.

Mortgage 370

Mortgage Clients Business Investing 370

Housing Wire

NOVEMBER 7, 2023

Smith will engage with both the military community as well as real estate professionals to further education on VA mortgage products. Our mission is to inform and empower so that more of our country’s service members, who have sacrificed so much on behalf of our country, can take advantage of the powerful benefits of the VA mortgage program.”

Lending 397

Lending Real Estate Agent Real Estate Training 397

BiggerPockets

JANUARY 28, 2024

Home prices will rise, home sales will jump, and mortgage rates will fall to a familiar range, according to Fannie Mae’s Doug Duncan. In their newest consumer sentiment survey, Fannie […]

Mortgage 77

Mortgage Marketing 77

Housing Wire

SEPTEMBER 22, 2023

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. Meanwhile, available inventory continues to dwindle as many homeowners stay put to keep their relatively low mortgage rates.

New Listings 450

New Listings Inventory Buyers Mortgage 450

Housing Wire

JANUARY 19, 2023

The partnership aligns with loanDepot’s Vision 2025 strategic plan and will “change the way we run our originations operations, improving speed to closing and quality while also realizing substantial savings,” loanDepot president and CEO Frank Martell said in a statement. Loan origination volume dropped to $9.8

Technology 369

Technology Lending Real Estate Mortgage 369

Housing Wire

APRIL 21, 2021

Wisconsin-based Fairway Independent Mortgage Corp. One of Fairway’s electronic signs at the stadium reads “Home.com, by Fairway Independent Mortgage Corporation.” Headquartered in Madison, Wisconsin, Fairway is a full-service mortgage lender with more than 400 branches nationwide. The company funded $65.8

Mortgage 378

Mortgage Brokerage Contracts Development 378

Housing Wire

DECEMBER 26, 2023

But in 2024, industry analysts believe mortgage rates will be the primary focus for many firms. “I I think the three most important factors driving sentiment and action next year are going to be supply, demand and mortgage rates.”

Brokerage 442

Brokerage Mortgage Agents Bracketing 442

Housing Wire

FEBRUARY 8, 2024

DocuSign began to cut operating costs for fiscal year 2025, including areas such as program spending, professional fees and noncritical open roles, according to a message that CEO Allan Thygesen shared with employees on Tuesday. A majority of the impacted positions came from the company’s sales and marketing organizations, the company said.

Technology 424

Technology Investors Finance Business 424

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. Specifically, TCB was concerned that if Ginnie Mae seized RMF’s [mortgage servicing rights], TCB would face delays in being repaid.” Ginnie Mae accordingly implored TCB to lend money to RMF.

Government 412

Government Contracts Finance Lending 412

Housing Wire

APRIL 19, 2024

Ginnie Mae originally sought to have the case dismissed in January, saying then that TCB lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program. Attorneys for the U.S. The judge largely disagreed.

Government 433

Government Legal Law Development 433

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. And it added two new top 100 financial institutions by retail customer base to grow its mortgage customer base. million in 2023, down from a non-GAAP net loss of $182.2

Mortgage 414

Mortgage Retail Business Finance 414

Housing Wire

AUGUST 8, 2023

The California-based mortgage lender had its second consecutive double-digit revenue gain amid increasing origination volumes and margins. Changes in leadership came with the decision to consolidate LDI Digital, including mellohome, into its existing production channels, under the direction of LDI Mortgage President Jeff Walsh.

Human Resources 370

Human Resources Lending Investors Mortgage 370

Housing Wire

SEPTEMBER 11, 2023

historical data to support credit model updates in the first quarter of 2025. By the fourth quarter of 2025, the FHFA was to have incorporated credit score model updates into capital and pricing. Mortgage trade groups applauded the agency for the longer implementation timeline.

Finance 393

Finance Government Mortgage Investors 393

Housing Wire

APRIL 5, 2023

” “The addition of Steve to the Board will bring a new and valuable perspective that will help loanDepot navigate the extraordinary challenges facing the mortgage industry,” Hsieh said in a statement. Like its peers, California-based loanDepot has been challenged by the surging mortgage rates landscape.

Government 369

Government Development Investing Mortgage 369