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FAR parent updates investors on AAG integration, business performance

Housing Wire

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. million in fourth-quarter 2023.

Business 365
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First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

Another $700 million is expected to be invested in mortgage lending, with a focus on rural areas, the development of community mortgage loan officers, small-dollar mortgages and home improvement loans, among other products for LMI borrowers. In its previous five-year plan, from 2018 to 2023, the bank invested $1.75

Investing 317
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Fintech Hitch launches new HELOC platform

Housing Wire

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday.

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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Then, the mortgage industry showed why it is called a cyclical business: in the second half of 2021, the Federal Reserve signaled an increase in interest rates and an easing of the purchase of mortgage-backed securities, choking the refi market. Pennymac estimates it has 17% market share in the correspondent channel, compared to 1.4%

Mortgage 519
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With low inventory, house hunters are in full safari mode

Housing Wire

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? Just because there’s vacant homes in the U.S.

Inventory 447
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Introducing the Rising Stars Class of 2022

Housing Wire

SVP, Marketing. Planet Home Lending. Chief Marketing Officer. Senior Director of Government and Industry Relations. SVP, Director of Capital Markets. Finance of America Home Improvement. Take a look through the list below to see the nominees’ impressive accomplishments. Company Name. Brad Jones.

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Why Diversify? Multiple Streams, Multiple Dreams!

Appraisal Buzz

Prior to the 2008 dust-up, this strategy had helped us become a dominant player in our market. What could we do to fortify our business to withstand another market shock in the future? That option evaporated overnight, as many of our clients abandoned those relationships and started using AMCs to distribute their appraisal orders.

Clients 195