Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. The programs are key to the GSEs’ equitable housing finance plans.

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Housing Wire

MAY 15, 2024

Its plan takes aim at liquidity, budget authority, pay scales and other potential flexibilities to more closely align with the value it brings to the government and the broader mortgage market. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

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Housing Wire

MAY 14, 2024

Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. In addition to product development, FinLocker (a former HousingWire Tech 100 winner) plans to expand its strategic partnerships and collaborations within the mortgage ecosystem.

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Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. The CDFI certification is a designation given by the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

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Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

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Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

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Housing Wire

NOVEMBER 6, 2023

Policymakers and the mortgage industry must reckon with historical and present-day barriers that lock would-be homebuyers of color out of the market altogether,” according to the report published on Monday. In terms of adopters, government-sponsored enterprises (GSEs), large mortgage lenders and fintech firms have used AI.

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Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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%

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Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage. billion, did not have the required NFIP coverage.

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Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

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Housing Wire

MARCH 28, 2024

Better Home & Finance Holding Co. , Better has been launching digital products with its proprietary technology, including digital VA loans and a one-day mortgage product. About 80% of the mortgages at Better are now being funded as one-day products, Garg noted.

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Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. It’s an open platform. We’re not huge, but we’re not small either.”.

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Housing Wire

JANUARY 4, 2024

Published on the heels of JCHS’ “ Housing America’s Older Adults 2023 ” report from December, the growing number of mortgage products available to a wider swath of American seniors could make a difference for those aiming to age in place. Reverse mortgage companies have also invested in their own home modification programs.

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Housing Wire

JUNE 30, 2023

The review schedule and loan threshold changes are designed to “simplify underwriting for multifamily housing development without presenting undue risk to FHA,” the agency said, and to allow for regular adjustments in response to market changes. “We

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Housing Wire

NOVEMBER 17, 2022

This debate comes at a time when mortgage rates have doubled since the beginning of the year, from around 3.5% to around 7%, giving new urgency to the need to keep mortgage fees down on all federal agency mortgage programs — not just FHA but also VA , Fannie Mae and Freddie Mac. 1 way most regular Americans build wealth.

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Housing Wire

MARCH 8, 2024

“The exposure of the largest banks is quite low, but there may be smaller banks that are stressed by these developments.” Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. FDIC), banks held $2.78

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Housing Wire

JANUARY 7, 2021

Acra Lending, one of the largest independent non-QM specialty finance lenders, has added to its suite of mortgage loan programs with the launch of its Jumbo Prime mortgage solution. Acra designed the program as an extension to its suite of programs for purchase or refinance of higher valued properties.

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Housing Wire

JANUARY 3, 2024

A reverse mortgage can certainly play into this, but another growing dynamic is the divide between higher- and lower-income homeowners. Department of Housing and Urban Development (HUD), only about 64,500 HECMs were originated in FY2022.” As the U.S. According to data from the U.S.

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Housing Wire

FEBRUARY 22, 2022

Federal finance and housing regulators today issued a statement to assure lenders they are on the same page when it comes to special purpose credit programs. Lenders are left to their own devices to design the programs, based on guidelines from the CFPB, and hope they get it right.

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Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

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Appraisal Buzz

MAY 6, 2024

I recently attended the Going to Extremes conference in DC on April 18-19, which focused on how climate change is affecting the US housing and finance industries. ICON, an Austin based firm, has developed a 3D printed wall system. The powerhouse roster of speakers included the organizer herself, Toni Moss, CEO of AmeriCatalysts, LLC.

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Housing Wire

MAY 4, 2023

We designed the event with the attendee outcome in mind. These leaders will join the ranks of former HW Annual speakers like Sandra Thompson, director of of the Federal Housing Finance Agency , Laura Escobar, president at Lennar Mortgage , and Rick Haase, president at United Real Estate. So what does this look like in action?

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Housing Wire

MAY 26, 2022

A spokesperson from Department of Housing and Urban Development’s Office of Inspector General said that the loans funded were FHA-insured loans. The DOJ alleges Hernandez falsified borrower’s income by inflating monthly child support payments on mortgage loan applications. Her place of work was not disclosed.

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Housing Wire

JULY 16, 2021

As Chief Operating Officer at First Guaranty Mortgage Corp , Sarah Gonzalez has modernized the FGMC brand, recruited top talent and implemented operational efficiencies that significantly reduce the cost per loan across all production channels. What is your company doing to develop the next generation of leaders?

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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 Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

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Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). the trade groups state. Department of the Treasury ; and the Federal Reserve System.

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Housing Wire

JANUARY 8, 2021

Moving forward, the Mortgage Industry Standards Maintenance Organization , a not-for-profit subsidiary of the Mortgage Bankers Association , will continue to focus on digital closings. 1, he served as the assistant secretary of policy development and research for the U.S. USB drive developed from standards organizations.

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Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. The pieces are coming together,” said Bob Broeksmit, president of the Mortgage Bankers Association. Affordable housing advocates are hopeful.

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Housing Wire

SEPTEMBER 20, 2023

The FOMC also said it would continue to reduce its holdings of Treasury securities and agency debt and agency mortgage-backed securities. In fact, mortgage applications picked up in the week leading up to the Fed meeting, signaling a wave of optimism. However, at Mortgage News Daily , mortgage rates were higher on Tuesday, at 7.30%.

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Housing Wire

JULY 28, 2022

The new rule guidance is designed to expand the supply of affordable housing by making it easier to develop, repair or operate affordable housing. billion for affordable-housing development and preservation. billion for affordable-housing development and preservation.

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Housing Wire

DECEMBER 7, 2021

The Department of Housing and Urban Development (HUD) on Tuesday resolved uncertainty around special purpose credit programs, 45 years after Congress allowed lenders to tailor products to groups that have historically been excluded from homeownership. In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act.

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Housing Wire

JUNE 30, 2022

Facing a housing market in transition, mortgage lenders are striving to provide funding access to a growing population of non-traditional borrowers. As one of the few lenders to hold a Community Development Financial Institution (CDFI) designation, Champions Funding promotes growth in some of the nation’s most distressed communities.

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Appraiserblogs

MARCH 7, 2024

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. Despite its roots in a methodology designed to support appraisers, Value.

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Housing Wire

JANUARY 5, 2021

The Housing Policy Council has weighed in on the Conference of State Bank Supervisors’ new proposed standards for nonbank mortgage servicers. And now HPC, headed by former Federal Housing Finance Agency President Edward DeMarco, is adding its voice to the comments. “In Achieving touchless mortgage automation. HPC agrees.

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Housing Wire

APRIL 21, 2021

As a leader in the adoption, implementation and use of digital mortgages Camelia Martin’s breadth of experience has never been more relevant to the industry. We reached out to Martin to discuss her latest digital mortgage closing initiatives and what she sees for the next generation of leaders in housing.

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Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.” Presented by: Mortgage Coach.

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