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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? According to the Federal Housing Administration (FHA), there were only 2,063 HECM for Purchase loans endorsed in 2022 — that’s less than 1/10th of 1% of homes sold last year.

Finance 449
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21 podcasts mortgage professionals should be learning from

Housing Wire

Loan Officer Freedom. Host Carl White, founder of The Mortgage Marketing Animals loan officer coaching program, shares insights for loan officers on how to close more while working less. Loan Officer Leadership. 10 Loans a Month. The Loan Officer Podcast. Housing News.

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HUD dings Movement Mortgage for alleged fair housing violations

Housing Wire

The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021.

Mortgage 392
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FHFA: GSE servicers must keep fair lending data

Housing Wire

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. Presented by: Selene Finance.

Lending 381
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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. In the purchase market, there are a lot of times people want that more personal touch, you need to be developing relationships with Realtors, and that can be much more difficult to do at scale,” he said.

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What’s in store for non-QM in 2024?

Housing Wire

MW: Non-QM provides a source of financing solutions that caters towards homeownership of a growing population of underserved borrowers in the United States. Our client development team spends a lot of time at conference forums and in retail branches educating loan officers. HW: What are the strengths of the non-QM sector?

Investors 434
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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

In November, Interfirst issued pink slips to hundreds of non-commissioned loan officers at its call centers in Charlotte, North Carolina and Rosemont, Illinois, according to WARN notices in both states. I think 99% of the loans that I was writing there were refinances. The firm told HousingWire that it had originated $1.65

Mortgage 369