Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Housing Market Marketing Contracts Finance 385

Housing Wire

FEBRUARY 9, 2024

A lawsuit against the “ All-In” initiative at United Wholesale Mortgage (UWM) should be dismissed, a federal judge said, citing inadequate evidence to prove accusations against the lender. Okavage refused to sign an addendum, which states that brokers cannot engage in business with Fairway or Rocket.

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Contracts Retail Mortgage Lending 395

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgage 361

Mortgage Marketing Buyers Sellers 361

Housing Wire

JUNE 10, 2024

The parent company of top 10 reverse mortgage lender Liberty Reverse Mortgage has completed its shareholder-approved rebranding initiative, transforming the former Ocwen Financial Corp. The initiative has also transitioned the company’s New York Stock Exchange (NYSE) ticker symbol to “ONIT” as of the market opening on Monday.

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Contracts Mortgage Technology Marketing 341

Housing Wire

MAY 11, 2022

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The refinance share of mortgage activity dropped to 32.4% The rapid rise in mortgages rates continues to hit the refinance market, with activity 70 percent below a year ago. from 10.3%

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Mortgage Contracts Retail Buyers 424

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

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Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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Housing Market Marketing Contracts Lending 359

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.

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Contracts Mortgage Design Business 358

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. 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%). The data shows that the bank produced $25.3

Mortgage 376

Mortgage Lending Retail Business 376

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” But the housing market in the second half of 2022? By September, a full-fledged housing market recession had set in. over asking price.

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Housing Market Marketing Real Estate Agent Real Estate 501

Housing Wire

MARCH 10, 2021

After a slight increase in late February , mortgage applications dipped 1.3% in the week ending March 5, according to the latest report from the Mortgage Bankers Association. “Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said.

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Mortgage Contracts Government Inventory 414

Housing Wire

MARCH 31, 2021

Mortgage applications decreased for the fourth straight week – this time down 2.2%, according to the latest report from the Mortgage Bankers Association. “The housing market is in desperate need of more inventory to cool price growth and preserve affordability. The FHA share of total mortgage applications decreased to 11.3%

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Mortgage Contracts Inventory Lending 423

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.

Mortgage 349

Mortgage Clients Business Law 349

Housing Wire

AUGUST 3, 2022

Is there a new way to address the truth about staffing in the mortgage industry? While taking with Clayton Collins, CEO of HW Media, he used the term “elasticity” when describing the housing market and mortgage employment. Some just got too big, so when markets changed, they didn’t have a way to support the staff.

Mortgage 359

Mortgage Contracts Human Resources Training 359

Housing Wire

MAY 4, 2023

A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. Mortgage rate fatigue.

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Housing Market Marketing Inventory Buyers 396

Housing Wire

FEBRUARY 11, 2022

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Other indices put mortgage rates even higher. It reported the 30-year rate for FHA-insured mortgages was even higher, at 4.122%. Few industries are as impacted by market fluctuations as housing.

Mortgage 382

Mortgage Contracts Loan Officers Insurance 382

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right.

Mortgage 359

Mortgage Clients Retail Marketing 359

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. .

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Marketing Investors Mortgage Contracts 411

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. Continuing to reinvest in yourself and your business is important during tough times.

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Mortgage Investing Contracts Business 378

Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. at the end of 2022.

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Housing Market Marketing Inventory Buyers 366

Housing Wire

OCTOBER 12, 2022

It’s no coincidence that the post-2008 crisis mortgage expansion happened to occur during a period marked by transformative technological change in the industry. Most people outside of the mortgage industry are not even aware that one of the largest mergers between mortgage technology firms is on the verge of taking place.

Mortgage 364

Mortgage Technology Business Contracts 364

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. Presented by: FundingShield.

Mortgage 345

Mortgage Finance Retail Business 345

Housing Wire

SEPTEMBER 20, 2022

Delray Beach, Florida-based mortgage lender ResMac, Inc. It’s all part of a strategy to not only survive the most challenging mortgage market in decades, but to come out of it stronger. It’s all part of a strategy to not only survive the most challenging mortgage market in decades, but to come out of it stronger.

Marketing 343

Marketing Investors Retail Mortgage 343

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers. in the second year.

Buyers 464

Buyers Marketing Sellers Loan Officers 464

Housing Wire

JUNE 11, 2024

Seattle -based proptech company Flyhomes announced Tuesday that it has acquired the assets of startup ZeroDown and is launching an artificial intelligence (AI)-powered home search portal to bring “conversational real estate search and research to the market.“ AI is quickly gaining momentum in the mortgage and real estate spaces.

Real Estate 361

Real Estate Real Estate Agent Design Technology 361

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 432

Mortgage Loan Officers Finance Buyers 432

Housing Wire

JULY 27, 2022

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 The complaint alleged Trident Mortgage Co. ,

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Loan Officers Mortgage Law 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. Rapidly expanding Revolution In a rising rate environment, many lenders have downsized or have gone out of business.

Loan Officers 372

Loan Officers Mortgage Lending Retail 372

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. trillion under management.

Investors 330

Investors Marketing Contracts Investing 330

Housing Wire

JANUARY 8, 2021

For many of us, the start of a new year is usually synonymous with a renewed sense of professional self, focusing on new goals, new prospects for the year and, of course, the excitement for the upcoming spring real estate market. 2020 proved that we all need to work to find new ways to generate business.

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Lending Mortgage Inventory Business 439

Housing Wire

NOVEMBER 1, 2022

Caliber Home Loans is suing another direct competitor for raiding its talent pool, accusing rival Union Home Mortgage of trying to “cripple” its retail mortgage operation in the Southeast. Union originated roughly $13 billion in residential mortgages in 2021. billion in mortgage production. .”

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Retail Mortgage Contracts Loan Officers 269

Housing Wire

MAY 19, 2022

HousingWire recently spoke with Jon Irvine, Chief Production Officer at Change Lending, about how brokers can gain a new competitive advantage in the current tight market. As a result, brokers will be forced to look to the purchase market to fill their volume needs. Overall, it is stressful and hard on business.

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Marketing Lending Inventory Mortgage 396

Housing Wire

APRIL 28, 2022

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances. Additionally, each function in mortgage operations is a specific labor component.

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Mortgage Business Contracts Lending 336

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. trillion to $1.9

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Marketing Business Contracts Mortgage 296

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.

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Retail Contracts Loan Officers Mortgage 373

Housing Wire

SEPTEMBER 29, 2022

Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% How lenders can improve business models in 2022. retail, residential mortgage applications.

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Mortgage Retail Contracts Business 288

Housing Wire

JULY 19, 2022

Adjusting to today’s market can be dizzying after the last few years of historically low interest rates and high refinance business. We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. Notable trends in a new era of sales.

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Mortgage Loan Officers Technology Real Estate 379