Housing Wire

AUGUST 5, 2020

Last week, we published a story about United Wholesale Mortgage (UWM) offering 15-year fixed mortgage rates as low as 1.875% for purchases and refinances. For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. Others just wanted more details.

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Mortgage Loan Officers Lending Advertising 521

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

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Mortgage Loan Officers Inventory Business 439

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

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Mortgage Real Estate Inventory Construction 348

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

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Loan Officers Lending Advertising Home Improvement 363

Housing Wire

OCTOBER 28, 2021

Tessar, President and CEO of CIVIC Financial, about the keys to lending in a post-refi world. The average investor is involved in three to four purchase transactions per year, and each transaction will have an acquisition loan and an exit loan through sale, or a refinance to a long-term mortgage.

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Lending Real Estate Finance Real Estate Agent 261

Housing Wire

MARCH 3, 2022

Amid a tough environment for forward mortgage lending, Finance of America is betting on specialty finance & services products – reverse mortgages, investor loans, commercial loans – which are expected to deliver most of the return this year. Margins in the mortgage business declined from 3.88% in 2020 to 2.86% in 2021.

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Finance Investors Mortgage Home Improvement 359

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Mortgage Marketing Retail Lending 519

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. billion in home improvement projects.

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Renovations Home Improvement Marketing Finance 326

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.

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Business Investors Finance Home Improvement 366

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. These funds can be utilized to consolidate debts or finance home improvement projects. The Loan Store, Inc.

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Finance Home Improvement Lending Valuation 325

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor.

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Renovations Finance Home Improvement Lending 364

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

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Mortgage Loan Officers Finance Investors 385

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.

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Finance Lending Retail Renovations 368

Housing Wire

SEPTEMBER 23, 2020

There’s a mainstay in mortgage finance poised to help in working from home. The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. It allows for actual home improvements to complement contemporary lifestyles.

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Renovations Insurance Home Improvement Design 541

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

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Retail Finance Home Improvement Business 424

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

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Mortgage Clients Business Training 352

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

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Retail Finance Home Improvement Mortgage 342

Housing Wire

JUNE 1, 2022

Open Mortgage. Planet Home Lending. VP, Mortgage Verification Services. Senior Director, Mortgage Servicing Policy. Mortgage Insurers. VP, Correspondent Lending. United Wholesale Mortgage. Draper and Kramer Mortgage Corp. Enact Mortgage Insurance. Fairway Independent Mortgage.

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Architecture Realty Insurance Lending 338

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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Housing Market Marketing Contracts Lending 353

Housing Wire

JUNE 13, 2022

The board of directors appointed Graham Fleming, FoA’s president since October 2020, as interim CEO, responsible for the company’s forward, reverse, commercial and home improvement lending segments, as well as lender services. Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates.

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Finance Home Improvement Mortgage Lending 333

Housing Wire

AUGUST 31, 2020

HousingWire spoke to Doug Perry, Citadel’s new managing director of Wholesale and Retail Sales, about his plans for Citadel and the current state of non-QM lending. Doug Perry: I bring decades of experience to the table, having worked for a number of organizations, including Countrywide Home Loans, Indymac Bank and PennyMac.

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Lending Retail Housing Market Home Improvement 357

Clear Capital

APRIL 1, 2024

Home equity lending is a hot topic, with homeowners boasting near-record amounts of equity. Mordor Intelligence estimates that as of 2024, the home equity lending market size is estimated at nearly $31 billion, and is expected to grow to $36 billion by 2029. What is home equity lending?

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Lending Valuation Home Value Design 36

Housing Wire

SEPTEMBER 16, 2021

The share of firms making a percentage of net revenue from ancillary services, such as relocation services, mortgage lending, title and escrow services, and home improvement services, increased from 39% in 2018 to 42% in 2021. However, with 49% of the firms surveyed being one-office shops, that could be the reason.

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Real Estate Business Brokerage Open Houses 323

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

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Real Estate Real Estate Agent Technology Investors 350

Appraisal Buzz

APRIL 29, 2024

Of course, the primary source of business for most residential appraisers has traditionally been the lending industry: refinances, HELOCs, and mortgages for the purchase of a home. To that end, the appraisal business is ripe with opportunities to diversify and have revenue streams from multiple sources.

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Clients Business Appraisal Lending 195

Housing Wire

AUGUST 2, 2022

The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. ” Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates. The company loan origination volume fell to $5.1

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Marketing Human Resources Finance Business 313

Housing Wire

APRIL 2, 2021

It’s the second large-scale mortgage lender to go public via a SPAC in 2021, after broker-based United Wholesale Mortgage began trading in late January. Like virtually all mortgage lenders, FOA posted record profits and originations in 2020. The lender increased originations by 70% to $32.63 billion in 2020 from $19.16

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Finance Renovations Investors Retail 257

Housing Wire

JULY 6, 2023

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? That compares to a record $4.4

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Inventory Renovations Real Estate Government 448

PennyMac

JULY 26, 2023

Second mortgages can be a great way to use the equity in your home to free up cash for important needs. Just like any other loan, there are some essential components you should know about second mortgages before you begin the application process. What Is a Second Mortgage? What Can I Use a Second Mortgage for?

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Mortgage Home Improvement Renovations Lending 36

Housing Wire

OCTOBER 29, 2021

Until recently, mortgage servicing was more about cash-flow math than consumer experience. Customer Retention: When we think of new loans, this comes in a few forms in the current market: the last of the rate/term refis before rates rise, cash-out refis for both home improvement and debt consolidation, and, of course, new purchase loans.

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Clients Modernization Home Improvement Technology 372

Cleveland Appraisal Blog

OCTOBER 29, 2021

Once we know how much the home costs to replace, we can extract a percentage of how much the home improvement has depreciated. Let’s say that in this example, the home that sold for $500,000 has a replacement cost of $425,000. If that is the case, the home’s improvements have depreciated approx.

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Appraisal Development Finance Lending 365

Realtor

MAY 15, 2023

Getty Images If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. Here’s what you need to know about this newer appraisal method and how it works to determine the value of the home you want to buy.

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Appraisal Real Estate Appraisal Process Market Value 107

Movoto

MAY 15, 2024

One of the perks of purchasing a home is a special lending scenario known as a home equity loan , which becomes available to homeowners once enough money has been invested in the principle of a mortgage. The key to effectively using an equity loan on a house is first understanding home equity loans.

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Renovations Finance Lending Real Estate 36

Realtor

AUGUST 1, 2018

We found an FHA-approved lender, and in no time, we were on our way to buying our first home with a government-backed loan. But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan.

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Inspection Insurance Buyers Renovations 136

PennyMac

APRIL 5, 2023

Let’s take a look at how a temporary mortgage buydown concession could reduce your interest rate and make your initial monthly payments more affordable. What Is a Temporary Buydown on a Mortgage? Is Buying Down a Mortgage Right for You? Is Buying Down a Mortgage Right for You? What Is a Temporary Buydown on a Mortgage?

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Mortgage Sellers Buyers Insurance 36

Assurance Financial

JULY 27, 2021

Mortgage Loan for You. Many homebuyers make a list of the things they’d like in their new home — including the number of bedrooms, the types of amenities and the size of the yard, to name a few. You have lots of options when choosing a mortgage. What Is a Mortgage? What Mortgage Do I Need?

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Mortgage Government Construction Insurance 69

D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer.

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Appraisal Inspection Property Taxes Easement 105