Housing Wire

FEBRUARY 28, 2024

Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs. It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S.

Construction 359

Construction Finance Mortgage Housing Market 359

Housing Wire

NOVEMBER 29, 2023

Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022. Homebuilders are also pacing the number of homes they bring to market.

Construction 365

Construction Finance Inventory Development 365

Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200.

Retail 457

Retail Mortgage Construction Loan Officers 457

Housing Wire

JULY 20, 2022

Specifically, there is a high cost in constructing accessory dwelling units – or ADUs – which are secondary residences on a land parcel zoned for single-family housing. The Joe Biden administration broadly identified this financing issue. The problem then, the authors found, is ascertaining favorable financing.

Finance 368

Finance Legal Landlords Construction 368

Housing Wire

APRIL 13, 2023

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU). On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022.

Finance 365

Finance Property Taxes Insurance Construction 365

Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% To boost sales, builders have been offering different concessions such as upgrades or buying down mortgage rates. “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said.

Construction 408

Construction Development Inventory Mortgage 408

Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And And with rising home prices and the growing burden of traditional mortgage debt, homeowners are looking to tap into their home equity without taking on additional debt.”

Finance 372

Finance Investing Real Estate Agent Real Estate 372

Housing Wire

SEPTEMBER 5, 2023

Single-family home building slowed across the country during the second quarter of 2023, thanks to higher mortgage rates , and labor and supply shortages , according to the National Association of Home Builder’s (NAHB) Home Building Geography Index. The HBGI is a quarterly measurement of building conditions across the county.

Construction 343

Construction Marketing Development Mortgage 343

Housing Wire

OCTOBER 5, 2021

Finance of America Mortgage (FAM), the multichannel lender, announced today that it is offering a refi product for homeowners with accessory dwelling units (ADUs). Most homeowners finance ADUs through home equity loans, cash-out refinancings and construction/renovation loans.

Finance 358

Finance Construction Renovations Design 358

Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release. But some experts believe that financing options for ADUs need to be expanded.

Construction 368

Construction Tenants Design Finance 368

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 partnered with Fannie Mae and state HFAs to construct the standardized subordinate-lien documents.

Mortgage 381

Mortgage Tools Finance Construction 381

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

Mortgage 454

Mortgage Housing Market Inventory Construction 454

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 463

Mortgage Real Estate Agent Renovations Finance 463

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. The lender also brought over 45 former retail branches from Finance of America Companies Inc. FoA) months after it shut down its forward mortgage segment.

Retail 335

Retail Mortgage Lending Renovations 335

Housing Wire

APRIL 8, 2024

It now faces a wave of mortgage maturities and payoffs on the thousands of affordable-housing complexes it has helped to finance over the years — with no new construction carried out under the program since 2012. So, they prepay the mortgage and sell the property, or sell it once the mortgage matures. “A

Tenants 469

Tenants Finance Construction Government 469

Appraisal Buzz

MAY 19, 2021

While a lack of existing homes for sale is heightening the demand for new homes, supply constraints – most notably lumber – and a dearth of buildable lots, as well as hiring difficulties, are limiting homebuilders’ pace of single-family construction, which.

Finance 221

Finance Mortgage Construction Appraisal 221

Housing Wire

JANUARY 2, 2024

When will the mortgage industry know it has reached the tipping point where innovation is no longer a competitive advantage but an existential need? Any one of these indicators points to a housing finance industry ripe for innovation. housing and economic policy in ways that aren’t always beneficial.

Mortgage 351

Mortgage Modernization Finance Supply Chain 351

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Retail 394

Retail Mortgage Loan Officers Construction 394

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgage 437

Mortgage Construction Inventory Marketing 437

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Mortgage 361

Mortgage Loan Officers Retail Finance 361

Housing Wire

SEPTEMBER 29, 2023

Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers.

Loan Officers 402

Loan Officers Mortgage Buyers Finance 402

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Retail 391

Retail Mortgage Lending Renovations 391

Housing Wire

APRIL 23, 2024

“This rule strengthens standards by increasing elevations and flood proofing requirements of properties in areas at risk of flooding, where federal funds are used to develop or provide financing for new construction within the now defined FFRMS floodplain,” HUD explained. “It

Insurance 336

Insurance Construction Finance Development 336

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgage 342

Mortgage Marketing Retail Construction 342

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 527

Mortgage Inventory Retail Construction 527

Housing Wire

SEPTEMBER 21, 2023

Mortgage rates remained well above 7% on Thursday as markets digested Wednesday’s Fed meeting. 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 7.19% as of Sept. Other indices showed different mortgage rates this week.

Mortgage 392

Mortgage Construction Marketing Finance 392

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Business 383

Business Mortgage Lending Insurance 383

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 324

Lending Renovations Construction Finance 324

Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing. Already a member?

Mortgage 418

Mortgage Government Clients Construction 418

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. Origination volume forecast for 2024 Fannie Mae forecasts the total single-family mortgage originations volume to be $1.98 million in Q4 2023.

Mortgage 540

Mortgage Contracts Construction Government 540

Housing Wire

OCTOBER 31, 2022

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Waggoner’s professional career spans 18 years in the mortgage industry. The key to growing in a challenging mortgage market. Her role will focus on technology to drive the company’s growth. Presented by: Polly.

Loan Officers 342

Loan Officers Mortgage Technology Tools 342

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.

Construction 428

Construction Supply Chain Inventory Housing Market 428

Housing Wire

NOVEMBER 16, 2023

Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7% in October on a year-over-year basis and were up 6% from the previous month, according to the Mortgage Bankers Association (MBA) Builder Application Survey for October.

Mortgage 427

Mortgage Construction Inventory Buyers 427

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Where are mortgage rates headed? in second-quarter 2024.

Mortgage 425

Mortgage Retail Buyers Investors 425

Housing Wire

MARCH 12, 2024

And housing construction never fully recovered after that.” Combined with the millennial generation aging into the housing market and causing an unsustainable surge in demand, “construction over that decade skewed to higher value units rather than the starter homes needed for first-time homebuyers and workforce housing,” she said.

Construction 335

Construction Housing Market Insurance Finance 335

Housing Wire

NOVEMBER 28, 2023

The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. The increases to FHA’s loan limits will enable homebuyers to use FHA’s low-down-payment financing to access homeownership at a time when a lack of affordability threatens to shut well-qualified borrowers out of the market.”

Finance 465

Finance Construction Mortgage Government 465