Housing Wire

NOVEMBER 1, 2022

But with rates rapidly climbing past the 7% level, the Detroit-based lender is now in a tough spot as it attempts to pivot to purchase mortgages and persuade its customers to get cash-out refis – all while trying to cut costs through voluntary buyouts and attrition, the Wall Street Journal reported in a deep dive published Tuesday. .

Real Estate Agent 426

Real Estate Agent Marketing Real Estate Clients 426

Housing Wire

MARCH 14, 2022

Mortgage origination activity took a major hit in February, with rate hikes squeezing out refinance activity , both for rate-term refis and cash-outs. Purchase locks, which are not as rate-sensitive as refinancings , were up 7.2% Purchase locks, which are not as rate-sensitive as refinancings , were up 7.2%

Home Value 388

Home Value Lending Mortgage Marketing 388

Housing Wire

JUNE 14, 2022

The average borrower’s credit score trended down in May, led by a significant drop in cash-out refinance scores — a move attributed to higher-credit borrowers exiting the cash-out refi pool over the past two years.

Lending 351

Lending Brokerage Mortgage Marketing 351

Housing Wire

SEPTEMBER 12, 2023

When rates drop, the pipeline of purchase transactions of 2022 and 2023 will be in the money for significant savings through refinancings, mortgage industry leaders say. You find a dream home, let’s lock you into that dream home today, and we can refinance you when that rate comes down.’ and 2024 at 6%. trillion or $1.7

Loan Officers 395

Loan Officers Investors Mortgage Clients 395

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). HELOCs were not broken out separately in that report.

Lending 426

Lending Home Value Mortgage Renovations 426

Housing Wire

JANUARY 18, 2023

Borrowers are taking advantage of refinancings this week amid lower rates. The MBA data shows that the demand for the product rose 34% this week compared to the previous week. Despite these gains, refinance activity remains more than 80% below last year’s pace and purchase volume remains 35% below levels from one year ago. . .

Inventory 437

Inventory Mortgage Retail Training 437

Housing Wire

NOVEMBER 23, 2020

As mortgage rates sta y below 3% for the 17th consecutive week, a Black Knight report released Friday found that the number of “high quality” refinance candidates continues to climb. million candidates can save an average of $309 per month by refinancing. According to the report, a whopping 19.4 Presented by: VRM Mortgage Services.

Mortgage 501

Mortgage Valuation Design Marketing 501

Housing Wire

MARCH 8, 2021

Lenders may have one last quarter to ride the market’s massive refi wave after Monday data from Black Knight’s Mortgage Monitor Report revealed that despite rising interest rates, Q1 2021 refinance lending volumes are poised to remain near last quarter’s meteoric high. The post Is Q1 the last quarter to ride the refinance wave?

Lending 436

Lending Mortgage Marketing Business 436

Housing Wire

MAY 17, 2023

“If we’re at historic refinance lows and if we’re at secular purchase lows, you largely can paint a picture over the coming years that we’ll see both of those expand. Bob Walters: We’ve repositioned and added many more products that our clients can take advantage of. A credit card is always relevant.

Marketing 331

Marketing Clients Mortgage Business 331

Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage. Presented by: MCT.

Finance 395

Finance Mortgage Retail Home Value 395

Housing Wire

DECEMBER 8, 2020

While it is best known for refinancing student loans, the startup also offers a variety of other financial products, including personal loans, small business loans, home equity loans and mortgages. SoFi has made a big push in recent years to move beyond a specialization in student loan refinancing. billion as of Dec.

Mortgage 408

Mortgage Government Investors Finance 408

Housing Wire

JULY 21, 2022

The refinance index dipped 4% from the previous week, and the purchase index decreased 7%. The Optimal Blue index includes some refinancing data — but excludes cash-out refis to avoid skewing averages. The product averaged 2.49% a year ago. for the week ending July 15. point, up from last week’s 4.67%.

Mortgage 394

Mortgage Housing Market Buyers Marketing 394

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Investing 346

Investing Real Estate Lending Brokerage 346

Housing Wire

DECEMBER 27, 2022

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. “The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. A mortgage rate lockdown freezes the housing market.

Housing Market 513

Housing Market Marketing Real Estate Agent Real Estate 513

Housing Wire

MARCH 2, 2021

It’s the fifth SPAC carried out by Capitol. The transaction is expected to provide up to $645 million in cash proceeds and a fully committed private investment in public equity (PIPE) of $300 million. Up to $345 million of cash will be held in Capitol’s trust account. but projects to be at 5% by 2023.

Insurance 330

Insurance Real Estate Investing Finance 330

Housing Wire

MARCH 10, 2023

A host of nonbanks and traditional depository lenders, such as banks and credit unions, as well as a growing number of fintech firms continue to ramp up efforts and product lines to meet that demand. HELOCs rising Toohig’s sense of the HELOC market from his perch as a loan trader matches the broader rising market numbers for the product.

Housing Market 366

Housing Market Marketing Contracts Lending 366

Housing Wire

SEPTEMBER 16, 2020

In an interview this week with HousingWire, the 40-year-old Ishbia dished on how the third quarter is shaping up , capacity limits in the mortgage industry, the likely impact of the upcoming adverse market fee , and the company’s latest low-rate mortgage product, a 30-year fixed cash-out refi at rates as low as 2.5%.

Mortgage 462

Mortgage Marketing Technology Loan Officers 462

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The outlook is not good for large cohorts of the industry.”. trillion in 2021.

Mortgage 394

Mortgage Finance Marketing Business 394

Housing Wire

APRIL 13, 2021

The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight ‘s new monthly data report, the Originations Market Monitor. In March, the share of refinancings fell to 48%, forcing many lenders to quickly pivot away from refis and toward the purchase market.

Mortgage 407

Mortgage Marketing Lending Buyers 407

Housing Wire

JULY 27, 2022

These developments have essentially brought refinance originations to a screeching halt. In just one quarter, from March to June , the Federal National Mortgage Association refinance forecast decreased 23%. Meanwhile, products like adjustable-rate mortgages and home equity lines of credit are being reintroduced.

Mortgage 362

Mortgage Marketing Lending Business 362

Housing Wire

NOVEMBER 2, 2023

The third-quarter production represents a 13% drop compared to the same period in 2022. The company doesn’t break out purchase business versus refinancings in its earnings reports, but it said it “gained purchase market share.” The Detroit-based lender closed the third quarter with $1 billion cash on hand.

Technology 414

Technology Tools Business Mortgage 414

Housing Wire

APRIL 25, 2022

It was time for him to cash in his chips while he still has something of value,” said one source with knowledge of negotiations. Across the industry, originations are down 50% year-over-year due to the decline in refinancings, but staffing capacity remains high after the glut of business in 2020 and 2021.

Retail 383

Retail Loan Officers Mortgage Lending 383

Housing Wire

SEPTEMBER 22, 2022

The general premise is that Unlock provides the homeowner with cash upfront — normally 10% of the home’s current value. That future share is normally 17%, collected when the home is sold, refinanced or via a buy-out of the contract, according to Unlock’s website. “As 21, according to Mortgage News Daily.

Marketing 375

Marketing Contracts Finance Home Value 375

Housing Wire

MAY 4, 2023

The first quarter production also represents a whopping 67% drop compared to the same period in 2022. The company doesn’t break out purchase business versus refinancings in its earnings reports.) (The company doesn’t break out purchase business versus refinancings in its earnings reports.) Rocket reported $8.1

Real Estate Agent 390

Real Estate Agent Clients Mortgage Inventory 390

Housing Wire

MARCH 1, 2021

With low interest rates and a booming refinance market, it is natural that loan officers and brokers are focused on agency loans and also a thriving purchase market. However, with a futures rate curve that has recently been increasing, only so many loans qualify for refinancing, and this customer base will continually shrink as rates ascend.

Lending 346

Lending Clients Investors Loan Officers 346

Housing Wire

DECEMBER 30, 2020

With borrowers hopping on these low rates, economists began to see a glimmer of heightened refinance activity after a low turn-out for refi’s in December predicted a possible end to the refi boom. Still, that didn’t stop most lenders from limiting new originations and hoarding cash. Sales of new homes spiked 18.6%

Mortgage 545

Mortgage Investors Housing Market Marketing 545

Housing Wire

JANUARY 14, 2022

Meanwhile, the Mortgage Bankers Association (MBA) is forecasting purchase mortgage originations to increase 9% in 2022 and refinance originations to decrease by 62%. Appraiser productivity. The rise in sales and refinancing activity in 2021 resulted in increased appraiser productivity, ranging between 50% to 100% per appraiser.

Appraisal 391

Appraisal Marketing Mortgage Valuation 391

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. FHFA Director Sandra Thompson explained that such options are needed in the current mortgage rate environment.

Mortgage 522

Mortgage Government Design Finance 522

Housing Wire

APRIL 14, 2022

Interfirst purchased refinance leads and sent them to Woodward to close. The consensus from mortgage executives and analysts alike is that lenders who did well with purchase mortgages in 2021 – and appear well-positioned to ride out the storm in 2022 – are those who can get closer to the borrower. The work was not complex, he said.

Mortgage 521

Mortgage Marketing Retail Lending 521

Housing Wire

OCTOBER 13, 2022

Most of that decline will be on the refinance side, with the MBA estimating that the refi share of originations will drop from 62% last year to 33% this year and 27% in 2023. Rate locks on rate-term refinancings in August were down 93% from a year ago and cash-out refis were down 78%, according to Black Knight.

Mortgage 367

Mortgage Marketing Buyers Sellers 367

Housing Wire

OCTOBER 5, 2023

Between the summer of 2019 to date, there have been at least 26 securitization deals backed by home equity products valued in total at some $6.1 Nearly half of those offerings, in terms of count and value, have played out this year, however. billion, according to a review of bond-rating and industry reports.

Housing Market 402

Housing Market Marketing Contracts Finance 402

Clear Capital

APRIL 1, 2024

According to CNBC , American homeowners have a combined total equity of nearly $30 trillion — roughly $200,000 of cash for each owner-occupied home in the U.S. Home equity lenders provide an option for their clients to convert their growing equity back into debt for cash. What can customers do with home equity loans?

Lending 36

Lending Valuation Home Value Design 36

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. The MBA just put out their last forecast , and everybody latches on to the $4.4

Loan Officers 406

Loan Officers Mortgage Retail Finance 406

Housing Wire

OCTOBER 31, 2022

This was key to the recovery going into the COVID-19 crisis and getting out of that brief recession because we didn’t have a credit bubble that needed deleveraging. So, it will be critical to hear what the Fed thinks of the economy now and going out with rate hikes. Once those levels break, then a lot of things change.

Law 515

Law Inventory Lending Mortgage 515

Housing Wire

APRIL 19, 2024

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. Meanwhile, borrowers will be unable to refinance their first mortgage until the product is paid off, unless prohibited by law. The secondary market, however, can be a challenge for these products.

Finance 458

Finance Law Mortgage Government 458

Housing Wire

AUGUST 1, 2023

But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. The former senior recruiter trained other recruiters on how to reach out to high-producing, licensed loan officers before leaving Rocket in August 2022. billion in profit in 2020 and $6.1 billion in 2021.

Loan Officers 364

Loan Officers Retail Real Estate Agent Real Estate 364

Housing Wire

FEBRUARY 21, 2023

How do we get clients directly to reach out to us? Despite much of the talk out there, buyers are not coming back until home values come down dramatically – you probably won’t see a tremendous pickup. The company paid $1.275 billion in cash for the app in December 2021. That was new back then.

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Clients Mortgage Business Home Value 300