Housing Wire

MAY 3, 2024

The dismal 2024 mortgage market has one very silver lining: $32 trillion in home equity. Jim Deitch, co-founder and CEO at Teraverde , sees a golden opportunity for lenders who are prepared to serve homeowners with innovative options. Compare that with $30 trillion in financeable equity — it dwarfs it.

Technology 370

Technology Lending Mortgage Investing 370

Housing Wire

APRIL 10, 2024

loans from mortgage services and place them in its portfolio at a fixed 2.5% The estimate is based on the savings from avoiding foreclosures compared to the cost of purchasing these homes. Secretary Denis McDonough said in a statement that the program “will help more than 40,000 veterans and their families stay in their homes.”

Mortgage 372

Mortgage Government Lending Law 372

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. HECM for Purchase (H4P) loans dropped by 6.2%

Retail 370

Retail Mortgage Business Marketing 370

Housing Wire

NOVEMBER 9, 2022

According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels. The average mortgage holder is up by more than $92,000 compared to the start of the pandemic.

Mortgage 531

Mortgage Marketing Appraisal 531

Housing Wire

APRIL 8, 2024

The comments follow a Hunterbrook Media report from last week stating that UWM pressures brokers to send loans its way, resulting in higher costs to customers. “We think the premise of the thesis is misplaced,” Eric Hagen and Jake Katsikas wrote in the company’s weekly mortgage finance roundup. million in the previous year.

Loan Officers 330

Loan Officers Business Mortgage Brokerage 330

Housing Wire

OCTOBER 27, 2023

Often the buyer asks the real estate agent or lender for a recommendation, but we always encourage buyers to explore their options. Using Home Closing 101, consumers can contact local title agencies to compare rates and find a company that feels like the best fit for them. Where should homebuyers start?

Insurance 500

Insurance Real Estate Buyers Real Estate Agent 500

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. In the past year, there was roughly $12 billion in sales of manufactured homes.

Mortgage 394

Mortgage Finance Real Property Buyers 394

Housing Wire

NOVEMBER 1, 2022

Mortgage tech firms Mortgage Coach and Polly have teamed up on a new application programming interface (API) integration that guides borrowers through a visual representation of their loan options. This will enable borrowers to view accurate, side-by-side home loan comparisons, Mortgage Coach and Sales Boomerang said.

Mortgage 413

Mortgage Project Management Insurance Loan Officers 413

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.

Loan Officers 395

Loan Officers Real Estate Agent Real Estate Finance 395

Housing Wire

NOVEMBER 9, 2023

New York-based digital lender Better Home & Finance Holding Company has partnered with information technology consulting company Infosys on a mortgage-as-a-service platform. Better’s mortgage as a service currently consists roughly 20% of its revenue and the lender aims to grow this business line, Garg said. million the previous quarter.

Mortgage 380

Mortgage Insurance Finance Technology 380

Housing Wire

APRIL 8, 2024

Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). to 185 loans, while the Southwest increased 15% to 230 loans.

Mortgage 393

Mortgage Marketing Sellers Investors 393

Housing Wire

NOVEMBER 16, 2022

The Pontiac, Michigan-based lender now has an option for borrowers to reduce their rates by 3% during the first year of the loan, compared to the maximum 2% previously offered. Borrowers with temporary buydowns pay a lower mortgage rate during the first, second and third years of their loans. Presented by: Flagstar.

Mortgage 384

Mortgage Sellers Housing Market Marketing 384

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9%

Loan Officers 384

Loan Officers Clients Buyers Sellers 384

Housing Wire

JUNE 28, 2023

New home sales have been driving purchase activity in recent months as buyers look for options beyond the existing-home sales market, which has historically low levels of inventory. Last week, mortgage rate changes varied across loan types, with the 30-year fixed rate increasing slightly to 6.75% from 6.73%. from 13.3%

Mortgage 363

Mortgage Inventory Sellers Buyers 363

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

Agents 458

Agents Sellers Buyers Finance 458

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. This translates to a whopping $1,000 increase in the typical home payment in just the last year,” Jones said in a statement. . Searching for new options.

Mortgage 377

Mortgage Loan Officers Clients Housing Market 377

Housing Wire

MAY 4, 2023

Treasury yield, which traded at 3.38% on Wednesday compared to 3.43% about a month ago. As a result, swaths of homeowners are planning to wait until rates come down before selling, leading to fewer newly listed homes compared to a year ago. “The housing market is moving slower this spring.

Mortgage 379

Mortgage Inventory Housing Market Buyers 379

Housing Wire

JANUARY 18, 2023

Adrian Prieto : When it comes to leveraging the value of a home, a home equity line of credit (HELOC) is probably the most well-known option. However, it’s not necessarily the most appropriate option for older homeowners, ages 62+. The borrower simply needs to pay taxes, insurance and keep up to date on home maintenance.

Insurance 409

Insurance Design Clients Business 409

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. They want to verify the home’s worth. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. One more option.

Appraisal 458

Appraisal Real Estate Agent Sellers Real Estate 458

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.

Buyers 473

Buyers Marketing Sellers Loan Officers 473

Housing Wire

APRIL 16, 2024

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. This tells me [seniors] are moving again, so what are their options? The retail channel volume decrease of 15.7%

Retail 353

Retail Mortgage Business Loan Officers 353

Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Meanwhile, the FHA-insured loan delinquency rate recorded a larger jump during the same period to 10.81%, up from 9.5%, the highest level since Q3 2021.

Insurance 447

Insurance Home Value Mortgage Marketing 447

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. for the week ending January 6, compared to the week earlier, when the 30-year rates for conforming loans ($647,200 or less) went from 6.58% to 6.42%. Concessions, mortgage rate buydowns save deals.

Sellers 527

Sellers Mortgage Loan Officers Buyers 527

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The annual investment volume in the U.S. The annual investment volume in the U.S.

Finance 418

Finance Investing Real Estate Agent Real Estate 418

Housing Wire

AUGUST 31, 2023

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. HousingWire’s Mortgage Rates Center showed Optimal Blue’s 30-year fixed rate for conventional loans at 7.07% on Wednesday, compared to 7.22% the previous week.

Mortgage 408

Mortgage Housing Market Contracts Buyers 408

Housing Wire

APRIL 17, 2023

Elevated mortgage rates are continuing to give homeowners a reason to stay at their current homes, according to the 2023 Borrower Insights Survey conducted by ICE Mortgage Technology. Of those who plan to remain in their homes, about one-third (36%) specifically cite high interest rates as the reason for staying put.

Mortgage 337

Mortgage Finance Investing Home Value 337

Housing Wire

DECEMBER 15, 2022

These lower rates are encouraging news for the industry, which saw rates climb past 7% in October, but whether that will be enough to prop up home sales is a question that has not yet been answered. . At 3.12% one year ago, the same loan rates were about half of what they are today. Homebuyers weigh their options.

Mortgage 363

Mortgage Realtors Real Estate Investors 363

Housing Wire

AUGUST 3, 2023

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 6.90% as of August 3, up from last week ’s 6.81%. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory.”

Mortgage 351

Mortgage Inventory Government Buyers 351

Housing Wire

SEPTEMBER 19, 2023

You’ve found a house for your buyer or a buyer for the home you’re selling. A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? A licensed appraiser conducts the evaluation and considers the condition of the property, the location and sales of comparable properties (comps) in the area.

Real Estate 450

Real Estate Appraisal Agents Inspection 450

Housing Wire

OCTOBER 6, 2022

But qualifying borrowers can get lower rates with jumbo mortgages, as the spreads between these loans and the conforming option widened again this week. Meanwhile, given that jumbo loans are usually for higher income homebuyers, the current landscape is of extreme affordability challenges. All about the spread.

Mortgage 368

Mortgage Marketing Loan Officers Retail 368

Housing Wire

JULY 6, 2023

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%. Home shoppers will have to compromise on the features they want in a home or the neighborhood they are looking in.”

Mortgage 384

Mortgage Construction Inventory Investors 384

Housing Wire

AUGUST 19, 2021

Delinquency rates for mortgage loans on one-to-four-unit residential properties shrank across the board to 5.47% in the second quarter, according to a Mortgage Bankers Association survey published this week. Compared to the previous quarter , the delinquency rate dropped 91 basis points and was down a whopping 275 bps from a year ago.

Mortgage 432

Mortgage Inventory Housing Market Marketing 432

Housing Wire

SEPTEMBER 22, 2021

In 2019, the share of gig workers in companies jumped 15% compared to 2010, according to data from the ADP Research Institute. Altogether, these are dramatic changes compared to when traditional guidelines were put in place. HW: What type of innovative loan options and technology do brokers need to enhance communication with borrowers?

Finance 370

Finance Technology Lending Mortgage 370

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. homeowners saw home equity increase 1.7%

Housing Market 411

Housing Market Marketing Contracts Finance 411

Housing Wire

DECEMBER 11, 2020

In place of the DTI, the “General QM Final Rule” gives lenders relief for loans capped at 150 basis points above the prime rate, the CFPB said. Through this General QM Final Rule, we are working to create an appropriate, more flexible General QM loan definition,” CFPB Director Kathy Kraninger said in a news release on Thursday.

Mortgage 435

Mortgage Investors Marketing 435

Housing Wire

AUGUST 23, 2022

According to SingleSource, under the authority of the supreme court of the state where the property is located, attorneys who issue an ACT will be protected by a comprehensive liability wrapper – enabling SingleSource to provide comparable coverage as a title insurance policy at a much lower cost to the consumer.

Insurance 366

Insurance Legal Mortgage Marketing 366

Housing Wire

MAY 23, 2022

HousingWire recently spoke with Barry Coffin, managing director of home equity title/close at ServiceLink , about the ways lenders can capitalize on these trends by revving up their home equity solutions. Barry Coffin : It’s a good time to prioritize home equity transactions for a couple of reasons.

Technology 359

Technology Clients Housing Market Training 359