Housing Wire

APRIL 25, 2024

Older adults and people with disabilities are often prone to financial distress, and they may require more resources to better understand their circumstances and options, according to a new report from the Government Accountability Office (GAO). Applicants must complete this counseling before receiving a reverse mortgage.”

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Mortgage Government Law Design 396

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

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Mortgage Real Estate Agent Sellers Construction 403

Housing Wire

JANUARY 8, 2021

For the system to work, mortgage-backed security investors need an efficient and verifiable means to know that all loans in their securities comply with this law, and originators and issuers want certainty that they are not running afoul of the Bureau. Even so, it is not the entire ATR rule requirement. Demographics are shifting, too.

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Government Mortgage Finance Legal 288

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. Regarding the plan governance, the bank will maintain the advisory board created under the 2018 plan, and NCRC will appoint half the members.

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Investing Mortgage Lending Loan Officers 404

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

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Mortgage Tools Design Development 417

Housing Wire

JANUARY 2, 2024

While most have their eyes on the horizon, HousingWire’s dedicated reverse-centric publication, Reverse Mortgage Daily (RMD), will look back one more time at a year of challenge. 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 418

Housing Wire

OCTOBER 18, 2023

Department of Housing and Urban Development (HUD), Julia Gordon. The commissioner also discussed the rise in mortgage loan assumptions. ” Gordon spoke during the Mortgage Bankers Association (MBA) Annual Conference held Oct. But, per the MBA, it takes on average about $2,500 to close a government loan. ”

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Mortgage Government Insurance Tools 430

Housing Wire

JANUARY 24, 2022

Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training.

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Government Appraisal Reconsideration of Value Lending 370

Housing Wire

APRIL 23, 2024

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” That’s kind of evaporated,” Martell said on Tuesday morning in a session during The Gathering , HousingWire’s real estate and mortgage conference held in Scottsdale, Arizona. ”

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Mortgage Real Estate Agent Real Estate Renovations 361

Housing Wire

JANUARY 16, 2024

Ginnie Mae intends to develop a new reverse mortgage-backed security product enabling the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement, according to a new announcement.

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Mortgage Development Government Tools 431

Housing Wire

MARCH 29, 2024

To gauge what caught her attention about this space and how reverse mortgages intersect with her work, RMD sat down with Frankowska to discuss how and why she is choosing to become involved in the senior finance space. naturally exposing her more closely to the American reverse mortgage industry. reverse mortgage space.

Mortgage 457

Mortgage Finance Insurance Tools 457

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. Anticipating the start of the refi race When mortgage rates finally rose above their historically low levels, the mortgage refinance business started to dry up. In our business, that’s the refinance transaction.

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Mortgage Technology Tools Business 465

Housing Wire

APRIL 9, 2024

Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. To get a better idea of what motivated the survey and its desire to learn more about reverse mortgages, RMD sat down with WSFS Mortgage President Jeffrey Ruben.

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Mortgage Tools Brokerage Government 415

Housing Wire

APRIL 19, 2024

Department of Housing and Urban Development (HUD) and Ginnie Mae largely deny any allegations made against the company in the original complaint. Attorneys for the U.S. This is according to court documents reviewed by RMD. The judge largely disagreed.

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Government Legal Law Development 438

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. But a senior HUD official in mid-July stated the obstacles to providing small-dollar mortgages, instead of giving solutions.

Mortgage 384

Mortgage Finance Lending Development 384

Housing Wire

NOVEMBER 27, 2023

Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. Piper Sandler expects a drop in prepayment speeds to continue despite the near-term dip in mortgage rates, because very few borrowers have mortgage rates above current levels.

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Mortgage Investing Government Real Estate 420

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. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

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Real Estate Agent Development Real Estate Law 466

Housing Wire

AUGUST 3, 2023

Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold. Some economists say that this development contributed to drive up the 10-year treasury yield to its highest level since November 2022. By contrast, the 30-year fixed-rate mortgage was at 4.99% a year ago at this time.

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Mortgage Inventory Government Buyers 369

Housing Wire

APRIL 4, 2024

The federal judge overseeing a case brought by Texas Capital Bank (TCB) against Ginnie Mae has dismissed a portion of the bank’s complaint against the government-owned company but will allow the majority of the case to progress, according to court filings reviewed by RMD. Presiding Judge Matthew Kacsmaryk ruled in the U.S.

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Legal Government Law Development 413

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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Government Training Tools Design 405

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 384

Mortgage Loan Officers Government Buyers 384

Housing Wire

JANUARY 31, 2024

Finance of America Companies (FOA) President Kristen Sieffert is bullish on the prospects for the reverse mortgage industry’s leading lender in 2024, particularly after the company went through a series of major changes last year, including the acquisition of American Advisors Group (AAG).

Mortgage 401

Mortgage Finance Business Development 401

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 397

Housing Wire

FEBRUARY 5, 2024

These shifting dynamics are causing the California state government to work to ensure that certain issues that can stem from such a demographic development — particularly for health care, housing and social services — are addressed in a comprehensive statewide initiative called the “Master Plan for Aging.”

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Government Development Design Inventory 418

Housing Wire

DECEMBER 9, 2021

Mortgage rates decreased one basis point to 3.10% in the week ending Dec. 9, remaining low and stable despite tighter housing supply and affordability, according to the latest Freddie Mac PMMS mortgage report. Economists at Freddie Mac said the 15-year fixed-rate mortgage averaged 2.38% last week, down from 2.39% the week prior.

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Mortgage Marketing Government Inventory 508

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?

Technology 462

Technology Lending Government Legal 462

Appraisal Buzz

APRIL 12, 2024

Stephan is a 25-year veteran in mortgage technology. In her new role, Stephan leads a team responsible for supporting the agency’s efforts to identify technology-driven developments in housing finance, understand the associated risks, and facilitate the development of responsible innovation in FHFA’s regulated entities.

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Technology Development Government Finance 195

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Government Legal Law 431

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. The bank also claims that the government’s motion does not adequately address promises made by Ginnie Mae officials and the impact those promises had on the operations of the bank, attorneys said.

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Government Contracts Finance Lending 406

Housing Wire

APRIL 3, 2023

In turn, Lydia Pope, president of the National Association of Real Estate Brokers (NAREB), is urging mortgage lenders to accelerate special purpose credit programs (SPCPs) to boost Black homeownership rates and help close the wealth gap between Black and white Americans. In 2021, the U.S.

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Mortgage Real Estate Government Finance 376

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. million security backed by non-QM mortgages. among others.

Mortgage 380

Mortgage Government Business Technology 380

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. We now have a time clock of about six months.

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Mortgage Business Legal Real Estate 431

Housing Wire

MAY 11, 2021

Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month.

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Mortgage Lending Housing Market Government 504

Housing Wire

SEPTEMBER 16, 2021

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%. Presented by: Deluxe.

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Mortgage Government Lending Development 479

Housing Wire

MARCH 24, 2022

The Federal Housing Administration insured thousands of mortgages in 2020 without the mandatory flood insurance coverage. billion, an audit released this week by the Department of Housing and Urban Development Office of Inspector General found. in mortgages without required flood insurance appeared first on HousingWire.

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Insurance Mortgage Government Development 384

Housing Wire

JANUARY 23, 2024

The Santa Ana, California-based financial services company provides solutions including due diligence services, property valuations, mortgage fulfillment and consulting and advisory services.

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Valuation Market Value Clients Government 441

Housing Wire

DECEMBER 27, 2023

Guild Mortgage has an ambitious plan under the leadership of its new CEO, Terry Schmidt. United Wholesale Mortgage , the top lender in the country by volume, claimed just under 8% total market share over the first nine months of 2023. nationally, per Inside Mortgage Finance (IMF) estimates. It won’t be easy. exits and 3.2%

Mortgage 421

Mortgage Retail Lending Sellers 421