Housing Wire

FEBRUARY 22, 2022

Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing. The watchdog agency provided clarity for the kind of research and data that go into creating a targeted lending program.

Lending 370

Lending Development Finance Law 370

Housing Wire

DECEMBER 1, 2021

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. As the housing market changes, so does lending fraud.

Mortgage 544

Mortgage Insurance Lending Government 544

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Housing Market 386

Housing Market Mortgage Marketing Real Estate 386

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

Mortgage 437

Mortgage Renovations Appraisal Process Finance 437

Housing Wire

JUNE 7, 2022

From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. Smaller mortgage originators often deal with this problem by throwing more people at it. We’re seeing mortgage executives and workers retiring at record rates.

Lending 344

Lending Mortgage Technology Modernization 344

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 444

Finance Government Mortgage Legal 444

Housing Wire

DECEMBER 14, 2020

Nexsys Technologies , a subsidiary of Rocket Companies , launched its Clear HOI platform for all mortgage lenders on Wednesday – a new product it says will cut homeowners’ insurance verification time to mere minutes. “Clear HOI has made what used to be a time intensive step an instant one.”

Mortgage 368

Mortgage Insurance Lending Technology 368

Housing Wire

JULY 26, 2021

The roots of racial disparities in housing and mortgage markets run deep. Government-backed New Deal programs of the 1930s openly discriminated against minority borrowers and neighborhoods. Justice Department charges of fair-lending violations. As with many industries, the mortgage-lending market has increasingly moved online.

Mortgage 501

Mortgage Lending Real Estate Agent Government 501

Housing Wire

OCTOBER 30, 2023

In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage. Several lenders have rolled out down payment assistance programs recently, including Rocket Mortgage , United Wholesale Mortgage , Guild Mortgage and Guaranteed Rate.

Lending 469

Lending Retail Finance Insurance 469

Housing Wire

MAY 20, 2021

The founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also the president of the Mortgage Bankers Association in the late 1990s, pleaded guilty to five counts of bank fraud, money laundering and false statements to a financial institution. billion for the government-sponsored entity.

Mortgage 408

Mortgage Government Lending Insurance 408

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.

Government 387

Government Contracts Finance Lending 387

Housing Wire

FEBRUARY 21, 2023

FOA announced its intention to exit the forward mortgage originations business in late 2022 by winding down the operations of Finance of America Mortgage.

Business 362

Business Lending Finance Real Estate 362

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The fate of Wells Fargo & Co. ’s Presented by: Reggora.

Mortgage 370

Mortgage Lending Business Insurance 370

Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. The home-only lending market presents several major opportunities.

Business 444

Business Finance Buyers Lending 444

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 487

Mortgage Government Retail Lending 487

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 423

Marketing Mortgage Investors Sellers 423

Housing Wire

MARCH 9, 2022

International governance, risk and compliance giant Wolters Kluwer has inked a deal to acquire International Document Services (IDS) for $70 million in cash. IDS, currently owned by the Reynolds and Reynolds Company , is among the top providers of compliance and document generation software solutions for the mortgage and real estate industry.

Lending 375

Lending Government Law Insurance 375

Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

Mortgage 389

Mortgage Lending Technology Modernization 389

Housing Wire

MAY 18, 2022

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

Mortgage 395

Mortgage Clients Insurance Tools 395

Housing Wire

JUNE 24, 2022

million to resolve allegations that it fraudulently originated government-backed mortgage loans insured by the Federal Housing Administration (FHA). By improperly originating ineligible mortgages, lenders take advantage of the limited resources of the FHA program and unfairly pass the risk of loss onto the public.”

Insurance 375

Insurance Mortgage Government Lending 375

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. That’s 20 basis points higher than the international standard.

Mortgage 367

Mortgage Marketing Lending Finance 367

Housing Wire

APRIL 19, 2022

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies.

Insurance 492

Insurance Development Mortgage Government 492

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

Legal 405

Legal Mortgage Contracts Insurance 405

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

Housing Market 445

Housing Market Marketing Insurance Mortgage 445

Housing Wire

SEPTEMBER 17, 2021

The mortgage industry must be proactive in examining programs that can help borrowers recover from — and remain resilient to — disasters like these. The mortgage industry immediately recognized the need to help borrowers who were impacted by COVID-19 and would be unable to make their mortgage payments as a result.

Mortgage 407

Mortgage Technology Insurance Government 407

Housing Wire

MARCH 7, 2024

“And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. It’s a matter of speed. …

Investors 411

Investors Government Mortgage Investing 411

Housing Wire

OCTOBER 4, 2022

Head of Neighborhood and Community Lending. Gold Star Mortgage Financial Group. Managing Director and Global Head of Mortgage Services. Matic Insurance. Mortgage Champions. Sales Boomerang and Mortgage Coach. Senior Executive Vice President, President of Residential Servicing and Correspondent Lending.

Human Resources 406

Human Resources Lending Real Estate Technology 406

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”.

Finance 446

Finance Valuation Insurance Lending 446

Housing Wire

APRIL 10, 2024

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.

Business 415

Business Investors Finance Home Improvement 415

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 370

Mortgage Loan Officers Lending Business 370

Housing Wire

MARCH 10, 2022

How much does a typical low-income first-time homebuyer with a Fannie Mae -backed mortgage bring to the closing table? The typical low-income first-time homebuyer with a Fannie Mae-backed mortgage also has a 747 credit score, the research paper shows. In 2020, about 4% of Fannie Mae-acquired purchase loans went to Black borrowers. “We

Property Taxes 424

Property Taxes Lending Insurance Local Properties 424

Housing Wire

JUNE 9, 2021

He’s right and we disagree with the Community Home Lenders Association ’s assertion that such an affirmative obligation should not also extend to independent mortgage companies. Bank CRA obligations cover far more than their mortgage lending. They are bound to do more.

Lending 494

Lending Development Government Finance 494

Housing Wire

JANUARY 25, 2022

By all accounts, most mortgage companies enjoyed a solid 2021 and likely generated decent cash over the last two years. As we move forward into 2022, I believe cash will truly be king in the mortgage industry. In the mortgage business, many expenses are front-ended. How do you manage that?

Mortgage 368

Mortgage Inventory Business Loan Officers 368

Housing Wire

AUGUST 31, 2022

The executive will be responsible for strengthening Xactus’ regulatory compliance framework and administering regulatory changes required by the credit and mortgage industries, the firm said. Since then, the firm acquired MassiveCert , a software company that provides flood zone determinations for insurance, lending and real estate in July.

Modernization 370

Modernization Clients Technology Insurance 370

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics. So, it may start to come down.

Insurance 370

Insurance Finance Government Mortgage 370

Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). Department of the Treasury ; and the Federal Reserve System.

Valuation 370

Valuation Appraisal Government Real Estate 370

Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. No mortgage insurance will be required. We are going to see an increase in some of the non-QM lending.

Lending 383

Lending Insurance Government Mortgage 383