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. The post HUD ends silence on targeted lending programs appeared first on HousingWire.

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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. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Lending Finance Development Law 377

Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . The post Automation is coming to non-QM lending appeared first on HousingWire.

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Lending Technology Government Investors 346

Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

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Housing Wire

AUGUST 14, 2020

A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology. Planet Home Lending has promoted four people to vice president positions, supporting the company’s continual growth.

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Housing Wire

FEBRUARY 12, 2024

Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. AFR offers agency, nonagency and government lending products.

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Lending Renovations Construction Finance 356

Housing Wire

OCTOBER 16, 2023

Generative artificial intelligence (AI) has tremendous potential to cut costs and improve customer experience, but regulation has not caught up to develop a governance program, industry pros said of AI’s implementation in mortgage lending. Have we developed a model that is in fact fair?

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Technology Lending Government Legal 412

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. These credits can lead to fair lending violations. Still, I’ll take what we got.”

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Housing Wire

JANUARY 23, 2024

Consolidated Analytics serves clients in financial services, mortgage lending, servicing and capital markets, including banks, government-sponsored enterprises (GSEs) and originators.

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Valuation Market Value Clients Government 425

Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” Ginnie Mae accordingly implored TCB to lend money to RMF.

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Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S.

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Government Lending Development Legal 537

Housing Wire

OCTOBER 18, 2023

Department of Housing and Urban Development (HUD), Julia Gordon. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.”

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Mortgage Government Insurance Tools 394

Housing Wire

SEPTEMBER 29, 2020

They are specialists when it comes to buying and servicing government loans. But brand recognition doesn’t develop overnight. Be proactive now about balancing your lending diet, equipping your staff to handle a range of responsibilities and solidifying your brand’s presence in the marketplace. Tip #3: Start marketing now.

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Lending Loan Officers Business Investors 417

Housing Wire

OCTOBER 4, 2023

Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. A total of 242 senior executives from 219 lending institutions completed the survey between Aug.

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Technology Lending Valuation Mortgage 376

Housing Wire

JANUARY 2, 2024

Ginnie Mae , the government-owned corporation backing the HMBS program, seized RMF’s sizable Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) portfolio at the very end of 2022. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) has taken a more critical look at the situation.

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Mortgage Government Business Lending 372

Housing Wire

JULY 19, 2022

The Department of Housing and Urban Development said it is “looking very hard” at how to make it easier to finance small-dollar mortgages, but has yet to spell out how it will accomplish that goal. Freddie Mac and Fannie Mae give [lenders] a little bump on their origination fee to encourage small-dollar lending,” said Loftin.

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Mortgage Finance Lending Development 382

Housing Wire

APRIL 18, 2023

Given that HELOC organizations are more streamlined than closed-end lending, there is greater importance for the adoption of electronic closing documents, MISMO said last week, calling for participants to join a new development workgroup (DWG). Meetings will be conducted regularly via conference call.

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Lending Renovations Real Estate Finance 300

Housing Wire

AUGUST 30, 2021

million for redlining practices, according to the federal government. million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods.

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Lending Loan Officers Advertising Development 392

Housing Wire

APRIL 2, 2024

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. The lender originated $9.6 billion in mortgages in 2023, according to estimates from Inside Mortgage Finance.

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Loan Officers Retail Finance Buyers 377

Housing Wire

JUNE 9, 2021

Bank CRA obligations cover far more than their mortgage lending. It extends to their checking and savings accounts, small business and community development debt and equity financing, bank branch locations, financial literacy, grantmaking and more. We recognize that a duty to serve applied to IMBs may require a flexible approach.

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Lending Development Government Finance 457

Simonson Real Estate

AUGUST 24, 2020

It was here that I had the opportunity to moderate the Banking and Construction Lending Update discussion with Patricia Gnetz of U.S. Based on lender interviews and market reports, appetite for lending on each of the property types generally falls into in the following ranking (in order of best to worst). We had a great discussion!

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Lending Construction Tenants Real Estate 148

Housing Wire

AUGUST 23, 2022

The FHFA is seeking members who have a background in financing, development, and/or administrative work related to the government sponsored entities and the FHLBs. The committee, whose members have not yet been selected, will focus on the FHFA’s regulated entities, Fannie Mae , Freddie Mac and the Federal Home Loan Banks.

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Finance Lending Insurance Government 370

Housing Wire

NOVEMBER 14, 2023

Government sponsored-enterprises (GSEs) Fannie Mae and Freddie Mac will each have a $70 billion cap for multifamily loan purchases in 2024, the Federal Housing Finance Agency (FHFA) announced Tuesday. The combined $140 billion volume considers the given market condition. According to the White House , roughly 35% of the U.S.

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Finance Government Lending Business 324

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

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Business Investors Finance Home Improvement 396

Housing Wire

FEBRUARY 3, 2021

A Chicago-area real estate developer and two mortgage professionals participated in a mortgage fraud scheme that defrauded banks out of at least $3 million, the U.S. The alleged scheme occurred over a six-year period ending in April 2016, the government said. Attorney’s Office in Chicago said Tuesday.

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Mortgage Government Real Estate Development 375

Housing Wire

JUNE 1, 2021

Housing and Urban Development Secretary Marcia Fudge joined Biden to mark the 100th year since a white mob killed hundreds of Black residents of the Greenwood District. How hybrid title and valuations help increase lending efficiency. Developers, lenders or local governments could compete for the funds through an application process.

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Renovations Development Investors Legal 505

Housing Wire

AUGUST 19, 2021

A new agreement between the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) could heighten scrutiny of whether the government sponsored entities’ underwriting engines do enough to further fair housing. It specifically highlights the GSE underwriting and appraisal policies.

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Law Government Lending Finance 407

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

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Mortgage Clients Lending Investors 417

Housing Wire

JULY 31, 2022

In anticipation of the shifting market conditions and the expected growth of home equity lending, Wolters Kluwer recently introduced a new solution – OmniVault for Real Estate Finance. Steven Meirink oversees the P&L, operations, and growth strategy for the company’s Governance, Risk & Compliance Solutions business unit.

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Lending Technology Real Estate Government 336

Housing Wire

DECEMBER 7, 2023

While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely.

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Tools Development Mortgage Law 537

Housing Wire

DECEMBER 11, 2020

In his new role, Johnson oversees the company’s operations and is tasked with the development of Offerpad’s product team. Filkey brings 15 years of industry experience, with a heavy focus in mortgage banking, alternative product development and asset management.

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Lending Legal Clients Development 345

Housing Wire

MAY 11, 2021

A decline in the MCAI suggests that lending standards are tightening while a higher number suggests loosening credit standards. The MCAI on conventional loans increased 4.8%, while MCAI on government loans increased by 0.1%. last month.

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Mortgage Lending Housing Market Government 501

Housing Wire

APRIL 19, 2022

Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. The Department of Housing and Urban Development said that the implementation of such an option could prevent “several thousand borrowers a year from foreclosure.”

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Insurance Development Mortgage Government 492

Housing Wire

JUNE 21, 2023

The Consumer Financial Protection Bureau (CFPB) has 11 different items in the pipeline in its section of the federal government’s 2023 spring regulatory agenda, released last week by the White House. Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry.

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Valuation Finance Legal Development 324

Housing Wire

AUGUST 5, 2020

NAMB also developed a code of ethics, which was introduced to other states. The association broke down barriers with Freddie Mac, Fannie Mae and the Department of Housing and Urban Development and began testifying before Congress. They decided it was better to be part of the solution than to have one imposed on them.

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Development Government Mortgage Lending 370

Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Law Legal Valuation Government 417

Appraiserblogs

JANUARY 26, 2024

The government and those that write the rules have made it illegal (a punishable violation) to refuse an appraisal assignment in an area which consists primarily of non-whites. Back in the day, this protected the lender from lending more than the home/property is worth. Related Posts: The New Appraisal Profession – Why bother!

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