Housing Wire

MARCH 1, 2024

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. He declined to comment further.

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Loan Officers Law Brokerage Business 419

Housing Wire

FEBRUARY 7, 2024

Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Hardiman first joined Embrace Home Loans in 2008 as a project manager, the news release stated. In his new role, Hardiman will lead its lending and fulfillment operations. “We

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Housing Wire

JANUARY 31, 2024

Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We We are thrilled to welcome the Montana team to our Evergreen family,” Robert Lipston, the company’s executive vice president of production, said in a statement.

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Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. Ultimately, the FHFA announced a 12.21% increase in loan limits for 2023. Virgin Islands.

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Finance Government Law Mortgage 533

Housing Wire

MARCH 18, 2024

will move its servicing operations to the industry-leading MSP loan servicing system from ICE Mortgage Technology , ICE announced on Monday. With Lennar already leveraging ICE’s loan origination system, Encompass , the company will benefit from a seamless, digital mortgage ecosystem, the news release stated.

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Mortgage Technology Finance Tools 423

Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans.

Insurance 449

Insurance Agents Tools Legal 449

Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct. This represents a 3.2%

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Finance Buyers Mortgage 439

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. Anchor Loans was acquired by investment firm Pretium in November 2021.

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Investors Housing Market Finance Construction 439

Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. FHA rates were at 6.759% and rates for jumbo loans were even higher, at 7.333%.

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Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

Finance 436

Finance Buyers Mortgage Inventory 436

Housing Wire

OCTOBER 7, 2023

United Wholesale Mortgage , the country’s top mortgage lender, announced an enhancement to its PA+ service on Saturday, allowing brokers and their processors to choose which part of the loan process they would like a lender’s loan coordinator to handle. That’s the most time-consuming part of the loan process.

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Real Estate Agent Tools Real Estate Business 439

Housing Wire

FEBRUARY 5, 2024

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. In a statement, Hecht expressed his enthusiasm about joining OneTrust Home Loans. Hecht has a reputation for building high-performing teams and driving production growth, the company’s news release states.

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Lending Retail Construction Tools 399

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

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Loan Officers Finance Mortgage Lending 381

Housing Wire

SEPTEMBER 19, 2023

Alterra Home Loans , a Nevada headquartered retail lender and a Panorama Mortgage Group company, has promoted Fernando Ospina to president. He originated more than $46 million in loans in 2022, the company said. billion across 3,900 loans in 2022, data from mortgage data platform Modex showed. The company originated $1.23

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Retail Lending Mortgage Business 426

Housing Wire

JANUARY 5, 2023

California-based Loan America, Inc. Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders. According to the lawsuit, Loan America and Sprout would agree on prices and rates for any loan that Sprout was interested in purchasing.

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Insurance Loan Officers Mortgage Business 421

Housing Wire

OCTOBER 24, 2023

Patton Gade, the top producing loan officer for VA home loans in the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.

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Loan Officers Brokerage Retail Construction 421

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

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Lending Renovations Legal Real Estate 395

Housing Wire

JANUARY 17, 2024

Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.

Insurance 460

Insurance Mortgage Development Marketing 460

Housing Wire

JUNE 28, 2023

United Wholesale Mortgage (UWM) announced this week that it has added four bank statement loan offerings for self-employed borrowers. To qualify for loans of up to $3 million with up to 90% loan-to-value (LTV), self-employed borrowers can now provide bank statements to verify income rather than tax returns, W2s or pay stubs.

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Real Estate Agent Insurance Lending Real Estate 366

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

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Lending Design Government Tools 399

Appraisal Buzz

MAY 3, 2024

Freddie Mac recently announced the sale of 20 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio to GITSIT Solutions. The loans, with a balance of approximately $5.7 The post Freddie Mac Sells Pool of 20 Deeply Delinquent Loans appeared first on Appraisal Buzz.

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Investors Investing Mortgage Business 195

Housing Wire

MARCH 28, 2024

million in new grant and loan awards under the Green and Resilient Retrofit Program (GRRP), which brings the level of total funding awarded under it to $544 million, now comprising more than 50% of the full allocation. Department of Housing and Urban Development (HUD) on Thursday announced $173.8 million grant under the GRRP program.

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Renovations Development 381

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So

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Loan Officers Mortgage Finance Buyers 441

Housing Wire

NOVEMBER 9, 2022

Home equity loans and home equity lines of credit (HELOCs) are both loan products that are secured by the equity on a borrower’s home. What is a home equity loan? Home equity loans have a fixed interest rate and a set schedule of fixed payments for the life of the loan. Read on to find out. Pros and cons.

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Mortgage Marketing Appraisal 531

Appraisal Buzz

APRIL 22, 2024

Research conducted by STRATMOR Group shows that mortgage lenders using Snapdocs ’ e-closing platform are 18 days faster than industry peers across the loan production timeline—from loan application through delivery to the secondary market. The research is based on self-reported performance data from over 150 mortgage lenders.

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Mortgage Appraisal Marketing 195

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. In theory, this means loan officers provide the same service and pricing on loans, reducing the risk of steering.

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Loan Officers Clients Law Legal 458

Housing Wire

SEPTEMBER 25, 2023

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept.

Mortgage 414

Mortgage Marketing 414

Housing Wire

FEBRUARY 22, 2024

The product is limited to conventional loans, primary residences and buyers who are represented by a real estate agent. “In The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies.

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Mortgage Real Estate Agent Retail New Listings 385

Sacramento Appraisal Blog

FEBRUARY 6, 2024

Look, assumable loans are basically eye candy in real estate because they’re so rare, but they’re actually starting to happen more. UPCOMING SPEAKING […] The post The tiny but growing trend of assuming the loan first appeared on Sacramento Appraisal Blog. So, let’s talk about it.

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Real Estate Appraisal Housing Market Marketing 311

Housing Wire

OCTOBER 16, 2023

Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. It cited loans missing key documents or those with inaccurate income calculations as the top factors.

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Mortgage Development Marketing Finance 406

Housing Wire

MARCH 5, 2024

Many investors had expected the Fed to cut benchmark rates as early as March, and loan officers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. said Craig Strent, former CEO of Apex Home Loans and head of the faculty of mentors at The Loan Atlas , a mortgage coaching platform. “A

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Loan Officers Mortgage Buyers Inventory 416

Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

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Buyers Finance Home Value Real Estate 542

Housing Wire

OCTOBER 10, 2023

Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. According to Amor, raising the loan limits lets G-Rate “move closer to the general market.” “But

Finance 385

Finance Mortgage Marketing 385

Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the first to provide either a 2-1 rate buydown or a 1-0 rate buydown on a DPA program.

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Mortgage Sellers Finance Housing Market 387

Appraisal Buzz

MARCH 22, 2024

Overall, the report paints a picture of ongoing strong loan performance. Photo: Alexander Grey The post ICE: Mortgage Delinquencies Fell in February as Loan Performance Remained Strong appeared The post ICE: Mortgage Delinquencies Fell in February as Loan Performance Remained Strong appeared first on Appraisal Buzz.

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Mortgage Inventory Appraisal 370

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Mortgage 384

Mortgage Appraisal Sellers Marketing 384

Housing Wire

MARCH 1, 2024

From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loan officers in a new book titled, “Rethink Everything: You ‘Know’ About Being A Next-Gen Loan Officer.”

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Loan Officers Marketing Real Estate Design 395