Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Indeed, in recent quarters, equity withdrawal rates have been running at less than half their long-run averages.

Mortgage 440

Mortgage Technology Lending Marketing 440

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgage 479

Mortgage Clients Lending Home Improvement 479

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. They crested near 7.6%

Marketing 414

Marketing Mortgage Investors Sellers 414

Housing Wire

JANUARY 30, 2024

Atlanta-based nonqualified mortgage (non-QM) lender Angel Oak Mortgage Solutions is tapping into the home equity line of credit (HELOC) market amid elevated equity levels. Borrowers can qualify for this loan with owner-occupied homes, second homes or investment properties.

Mortgage 439

Mortgage Investing Marketing 439

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

Mortgage 455

Mortgage Marketing 455

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Lending 415

Lending Tools Inventory Renovations 415

Housing Wire

NOVEMBER 9, 2022

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. The average mortgage holder is up by more than $92,000 compared to the start of the pandemic. What is a home equity loan?

Mortgage 531

Mortgage Marketing Appraisal 531

Housing Wire

FEBRUARY 19, 2024

Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years.

Real Estate 430

Real Estate Property Taxes Insurance Government 430

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgage 335

Mortgage Retail Loan Officers Construction 335

Housing Wire

APRIL 12, 2024

Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. If a reverse mortgage can help your situation, it still makes sense for a lot of people,” Simmons told the organization.

Mortgage 398

Mortgage Business Lending Marketing 398

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

Lending 398

Lending Technology Investors Development 398

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment.

Housing Market 414

Housing Market Marketing Contracts Finance 414

Housing Wire

SEPTEMBER 6, 2023

In the face of spiking interest rates and historically high home prices , $3,000 monthly mortgage payments are common in today’s housing market. It was up modestly from the first quarter of 2023 but just half the volume of the first quarter in 2022 ($79B), before rates began to rise. That share fell to just 0.4%

Mortgage 410

Mortgage Insurance Housing Market Marketing 410

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The tightening came amid elevated interest rates and uncertainty in economic conditions. Responses were received from 62 domestic banks and 19 U.S.

Lending 454

Lending Mortgage Loan Officers Government 454

Housing Wire

APRIL 16, 2024

Because of certain persistent reputational challenges faced by the reverse mortgage industry, it can be challenging for borrowers to find objective informational sources about the product category. I was wondering if you guys could explain reverse mortgages,” the listener asked the group.

Mortgage 430

Mortgage Advertising Tools Marketing 430

Housing Wire

DECEMBER 27, 2022

The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom. over asking price.

Housing Market 522

Housing Market Marketing Real Estate Agent Real Estate 522

Housing Wire

FEBRUARY 13, 2024

Boston-based fintech company Hometap has deployed more than $1 billion in home equity investment (HEI) products since its launch in 2017, the company announced on Tuesday. homeowners with outstanding mortgages, or some 63% of all homes, equity tied up in real estate jumped by 6.8%

Investing 333

Investing Renovations Tools Real Estate 333

Housing Wire

MARCH 26, 2024

Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic. Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs.

Law 431

Law Real Estate Property Taxes Marketing 431

Housing Wire

FEBRUARY 15, 2024

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. Property taxes across the country are expected to rise due to surging home-price appreciation over the past few years. The average U.S.

Property Taxes 490

Property Taxes Insurance Mortgage Finance 490

Housing Wire

SEPTEMBER 28, 2023

mortgage delinquencies remained almost unchanged in July, nudging up 0.1 in June, according to CoreLogic ’s Loan Performance Insights. In fact, both delinquency and foreclosure rates hovered near all-time lows in July. On home equity , Boesel noted that home-price growth should pick up over the next year.

Mortgage 427

Mortgage Inventory Finance 427

Housing Wire

FEBRUARY 16, 2023

The overall national mortgage delinquency rate rose in the fourth quarter of 2022, due in part to a weaker economy and ongoing inflationary pressures. For the past 15 years, mortgage delinquencies have tracked very closely with employment conditions, Marina Walsh, MBA’s vice president of industry analysis, noted.

Mortgage 418

Mortgage Marketing Real Estate 418

Housing Wire

FEBRUARY 15, 2024

The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). said Michael Ullmann, a producing branch leader at Movement Mortgage.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Housing Wire

MARCH 8, 2024

homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Hometap, as an investor, provides cash in exchange for a share of their home’s future value.

Investing 368

Investing Real Estate Agent Marketing Real Estate 368

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 trillion at the end of this year.

Lending 368

Lending Valuation Mortgage Government 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. DSCR loans are always a popular option.

Mortgage 396

Mortgage Investors Real Estate Business 396

Housing Wire

FEBRUARY 20, 2024

Some racial minorities also witnessed a surge in their homeownership rates. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% and 51.1%, respectively.

Buyers 432

Buyers Inventory Realtors Mortgage 432

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

Renovations 339

Renovations Finance Inspection Buyers 339

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Contracts 374

Contracts Lending Investing Investors 374

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 431

Lending Home Value Mortgage Renovations 431

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). of a prospect’s home value.

Mortgage 356

Mortgage Home Value Development Appraisal 356

Housing Wire

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

Loan Officers 389

Loan Officers Investing Technology Mortgage 389

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Despite downturns in the mortgage origination market, Americans’ tappable home equity surged to a historic-high of $27.8 million loss in the previous quarter.

Property Appraisal 396

Property Appraisal Contracts Investing Lending 396

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgage 375

Mortgage Lending Finance 375

Housing Wire

JANUARY 17, 2024

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! 2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt.

Finance 455

Finance Real Estate Agent Real Estate Insurance 455

Housing Wire

MARCH 27, 2024

Reverse mortgage software and calculator provider Ibis Software announced this week that it appointed Robert Sivori, a reverse mortgage industry veteran, to its board of directors. Sivori has nearly 30 years of experience in the forward and reverse mortgage spaces.

Development 428

Development Mortgage Investing 428

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. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Housing Market 369

Housing Market Marketing Contracts Lending 369

Housing Wire

APRIL 26, 2024

The new guidance as published in the Federal Register and in a new ML “also restores FHA’s previous policy that discount points and interest rate buydowns are not allowable closing costs,” FHA explained. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Real Estate Agent 457

Real Estate Agent Development Real Estate Law 457