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. It mostly originated cash-out refis and purchase mortgages in 2020, according to HMDA statistics in Polygon’s database. It will maintain its headquarters in Salt Lake City.

Renovations 344

Renovations Home Improvement Marketing Finance 344

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. FoA) months after it shut down its forward mortgage segment. billion during the same period in 2022, according to Inside Mortgage Finance (IMF).

Retail 353

Retail Mortgage Lending Renovations 353

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 430

Mortgage Renovations Appraisal Process Finance 430

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Retail 393

Retail Mortgage Lending Renovations 393

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Tools 368

Tools Mortgage Finance Lending 368

Housing Wire

JUNE 30, 2022

With 35 years of experience in the mortgage business, Flagstar has reputation for successfully navigating the ebb and flow of an ever-changing housing market. We’re well-capitalized and committed to mortgage, particularly the broker channel. Lee Smith: EVP, President of Mortgage. Our brokers are our partners. “We

Lending 322

Lending Housing Market Technology Business 322

Housing Wire

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 340

Lending Renovations Construction Finance 340

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 464

Mortgage Real Estate Agent Renovations Finance 464

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Supply Chain 368

Supply Chain Renovations Finance Lending 368

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Often, traditional mortgage products don’t meet their needs. Debt is an issue in the market today.

Mortgage 358

Mortgage Investors Real Estate Business 358

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint.

Loan Officers 357

Loan Officers Retail Lending Renovations 357

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. We are proposing new rules that would require sensible safeguards on these clean energy loans.”

Property Taxes 312

Property Taxes Renovations Finance Lending 312

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Mortgage 374

Mortgage Loan Officers Retail Finance 374

Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. This bodes well for those still looking to refinance, renovate or even purchase a new home.”.

Mortgage 523

Mortgage Valuation Housing Market Renovations 523

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officers 372

Loan Officers Technology Lending Tools 372

Housing Wire

JULY 31, 2023

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations.

Property Taxes 316

Property Taxes Renovations Finance Mortgage 316

Housing Wire

JANUARY 4, 2024

Published on the heels of JCHS’ “ Housing America’s Older Adults 2023 ” report from December, the growing number of mortgage products available to a wider swath of American seniors could make a difference for those aiming to age in place. Reverse mortgage companies have also invested in their own home modification programs.

Renovations 322

Renovations Investing Finance Design 322

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

Finance 358

Finance Marketing Renovations Investors 358

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 392

Mortgage Clients Insurance Tools 392

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Lending 287

Lending Renovations Real Estate Finance 287

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 379

Mortgage Loan Officers Inventory Retail 379

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.

Finance 370

Finance Lending Retail Renovations 370

Housing Wire

FEBRUARY 15, 2023

California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. We believe these changes position American Pacific Mortgage for continued growth and stability.” FoA) months after it shut down its forward mortgage segment.

Retail 323

Retail Renovations Loan Officers Lending 323

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. Mortgage products expected to get love .

Renovations 389

Renovations Realtors Construction Mortgage 389

Housing Wire

JANUARY 5, 2024

Lower interest rates make mortgages more accessible, paving the way for more buyers into the market and potentially resulting in increased demand and higher prices. Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices.

Real Estate 428

Real Estate Agents Marketing Sellers 428

Housing Wire

OCTOBER 16, 2023

New initiatives include allowing homebuyers to leverage income from accessory dwelling units (ADUs), expanding mortgage lending for U.S. HUD will also continue to work on updates for its 203(k) Rehabilitation Mortgage Insurance Program. million homeowners with purchase mortgages, and 83.6 The new policies will allow U.S.

Design 450

Design Insurance Construction Development 450

Housing Wire

JUNE 1, 2021

The provisions are the Biden administration’s latest effort to combat the racial wealth gap, which Fudge called attention to during recent remarks to the Mortgage Bankers Association. How hybrid title and valuations help increase lending efficiency. The renovations would be on a budget, however. Streamline by combining services.

Renovations 502

Renovations Development Investors Legal 502

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Depository banks have dominated home equity lending for years, but nonbank lenders seeking volume are increasingly targeting the space. ” U.S.

Renovations 380

Renovations Lending Mortgage Investing 380

Housing Wire

FEBRUARY 16, 2022

If your state requires a lending license, make sure a the lender is licensed. Examine previous transactions with a lender, such as funding renovations on investment property, to better understand the lender’s experience with diverse real estate projects. Establish a private money lending network for real estate.

Real Estate 382

Real Estate Investing Investors Renovations 382

Housing Wire

JUNE 30, 2021

As purchase transactions move back to the forefront of lending, the broker channel will only continue to grow and gain momentum. The first resource is its newly renovated Broker Portal that brings the power of its proprietary H2O origination system together with an elegant interface to highlight next steps, critical tasks and key contacts.

Lending 382

Lending Renovations Design Tools 382

Housing Wire

NOVEMBER 6, 2023

Reasonable accommodations are required Although renovating an investment property to accommodate every potential disability is not required, reasonable accommodations must be made. Mortgage lending has rules too If you are a real estate agent who is also a mortgage professional, there are fair lending practice guidelines that apply to you.

Real Estate Agent 425

Real Estate Agent Law Real Estate Agents 425

Housing Wire

MAY 16, 2022

If you get a higher mortgage rate, there’s still some chance you can refinance out, but the price is baked in.”. Most people who purchase new manufactured homes use chattel loans instead of conventional mortgage financing, which have higher interest rates and fewer consumer protections, the Consumer Financial Protection Bureau found.

Supply Chain 360

Supply Chain Finance Development Renovations 360

Housing Wire

NOVEMBER 30, 2021

“There is a bigger consensus of confidence in the product now,” said Keith Lind, executive chairman and president of Acra Lending. Purchase mortgage originations in total are expected to grow 9% to a new record of $1.73 trillion in 2022, according to the Mortgage Bankers Association – non-QM will be part of that, of course.

Supply Chain 331

Supply Chain Lending Investors Renovations 331

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Lending 421

Lending Home Value Mortgage Renovations 421

Housing Wire

JULY 5, 2022

The acquisition of Portland, Oregon-based Riverbend and its subsidiaries, announced originally in late April, is expected to fit in well with Redwood’s existing business-purpose lending platform, CoreVest. Redwood executives say Riverbend will be integrated into CoreVest. It also serves professional developers of multifamily properties.

Finance 373

Finance Renovations Real Estate Investors 373

Housing Wire

DECEMBER 12, 2022

The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage Finance. The company has cut hundreds of jobs across layoffs in March , May , July and October , underscoring the immense challenges of the current mortgage market.

Marketing 378

Marketing Lending Retail Clients 378

Housing Wire

JULY 23, 2021

Acra Lending is doing what it can to help free up inventory. According to data from the Mortgage Bankers Association, the average purchase price had risen to $384,000 as of May. Fix n’ flip loans are ideal for investors and developers looking to purchase a home and renovate it. 3-month bank statement. Jumbo products.

Housing Market 424

Housing Market Marketing Inventory Lending 424