Housing Wire

DECEMBER 7, 2020

Mr. Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 million to settle a lawsuit claiming it violated the rights of over 115,000 customers, some of whom it had illegally foreclosed on. When Mr. Cooper – then known as Nationstar – bought thousands of mortgages through MSR bulk purchases, it frequently failed to identify loans with existing modifications, according to the lawsuit, which was fi

Law 536

Law Insurance Mortgage Investing 536

McKissock

DECEMBER 7, 2020

Generating real estate leads online is a daunting task for many real estate agents who may not know where to begin. When it comes to finding leads and bringing in new business, online technology is a fantastic tool. In this article, we bring you seven actionable ways you can start to generate real estate leads today: 1. Real estate website. At Raleigh Realty , our website generates over 30,000 web visitors a month and often ranks above the national billion-dollar companies like Zillow , Trulia ,

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Real Estate Real Estate Agent Realty Agents 66

Housing Wire

DECEMBER 7, 2020

As we look ahead to 2021, we remember that this year, the housing market has continued to remain a bright spot in the economy, even as other areas continue to struggle amid stay-at-home orders and economic shutdowns. COVID-19 threw the economy for a loop in 2020. In fact, this year seemed to prove anything is possible. From wildfires to hurricanes, the pandemic to murder hornets and a deeply divisive political campaigning season that drove record-setting voter turnout, 2020 did everything but fo

Real Estate 528

Real Estate Government Mortgage Technology 528

REX Real Estate

DECEMBER 7, 2020

Deciding whether to buy or rent is a decision most people have to make…

Investing 41

Investing Real Estate 41

Housing Wire

DECEMBER 7, 2020

Following three months of increases, Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumers’ desire to sell or buy a home, fell 1.7 points in November to 80. Year-over-year, the HPSI is down 11.5 points. Senior Vice President and Chief Economist Doug Duncan points to consumers’ wariness around the COVID-19 pandemic’s impact on buying and selling as reason for the sudden decline. “This follows the HPSI’s re

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Housing Market Design Business Finance 404

Housing Wire

DECEMBER 7, 2020

HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. HousingWire: What sets you apart from other non-QM lenders and how does that benefit originators and investors? Mike Fierman: One area that clearly differentiates Angel Oak is our vertical integration.

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Housing Wire

DECEMBER 7, 2020

The Office of the Comptroller of the Currency (OCC) has announced the appointment of two executives to the agency’s Executive Committee. Sydney Menefee has been selected to fill the senior deputy comptroller for Midsize and Community Bank Supervision on a permanent basis, and Greg Coleman will become the next senior deputy comptroller for Large Bank Supervision.

Lending 292

Lending Mortgage Marketing 292

Housing Wire

DECEMBER 7, 2020

Carrollton, Texas-based a360inc , an employee-owned legal and financial services technology and outsourcing company, acquired Express Notary Services , a national notary and signing services provider based in Irvine, California. Express Notary Services provides national notarization and signing services and is one of the larger independent service providers to the real estate and legal marketplaces.

Legal 226

Legal Technology Training Real Estate 226

Housing Wire

DECEMBER 7, 2020

With record origination volume stretching capacity and a fresh infusion of capital from the public markets en route, a slew of big nonbank lenders are shifting strategies and declining to sell their mortgage servicing rights, which they’d previously relied on to fund their operations. In fact, roughly $70.8 billion in MSR transferred across the secondary market during the third quarter of 2020.

Lending 239

Lending Investors Finance Mortgage 239

Housing Wire

DECEMBER 7, 2020

The U.S. housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows. New Home Supply. The monthly supply for new homes is currently at 3.3 months.

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Inventory Construction Government Housing Market 545

Housing Wire

DECEMBER 7, 2020

After two weeks of slight increases , the U.S. forbearance rate, measuring the share of mortgages with suspended payments, remained unchanged from the week prior at 5.54%, according to the Mortgage Bankers Association. The MBA estimates there are still 2.8 million homeowners in some form of mortgage forbearance. Fannie Mae and Freddie Mac loans in forbearance gained for the first time in 25 weeks on Dec. 1, however, they fell once again last week to 3.34% – a 2-basis-point improvement.

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Mortgage Finance Marketing Housing Market 375

Housing Wire

DECEMBER 7, 2020

The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. There is a compelling argument that ending historic economic and racial inequity should start with housing, specifically down payment assistance. With home equity accounting for a quarter of total U.S. household net worth, policies that significantly narrow the 30-percentage point Black-White homeownership gap , which is as wide as it was in 1890, could also help narro

Law 491

Law Government Finance Mortgage 491