Housing Wire

APRIL 9, 2024

The time-tested resiliency of home values highlights home equity’s importance to American households and its significance for residential real estate investors alike. The convergence of homeowner requirements and investor incentives has resulted in a genuine inflection moment for home equity investments (HEIs).

Investors 375

Investors Investing Real Estate Finance 375

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 342

Lending Valuation Mortgage Government 342

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 425

Lending Home Value Mortgage Renovations 425

Housing Wire

OCTOBER 19, 2023

” The client wanted to pay off $30,000 in consumer debt, handle home improvement projects and help her daughter start college, said Anderson, a longtime mortgage advisor in Southern California. 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 475

Mortgage Clients Lending Home Improvement 475

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. billion, according to offering documents.

Housing Market 394

Housing Market Marketing Contracts Finance 394

Housing Wire

SEPTEMBER 7, 2022

Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. HousingWire first reported on the lender’s plans to debut refinancing products at the beginning of July. .

Mortgage 422

Mortgage Loan Conditions Finance Investing 422

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. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S.

Renovations 382

Renovations Lending Mortgage Investing 382

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. 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.

Mortgage 530

Mortgage Marketing Appraisal 530

Housing Wire

MARCH 29, 2024

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgage 340

Mortgage Lending Finance 340

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 369

Supply Chain Renovations Finance Lending 369

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 ). Toohig said Raymond James finished the year with some $1.1

Housing Market 362

Housing Market Marketing Contracts Lending 362

Housing Wire

JANUARY 19, 2024

The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. The ESR group expects the annualized pace of existing home sales to move up to 4.5 Home prices are now expected to rise 3.2% million in Q4 2023.

Mortgage 540

Mortgage Contracts Construction Government 540

Housing Wire

JANUARY 17, 2024

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 437

Finance Real Estate Agent Real Estate Insurance 437

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 336

Investing Real Estate Lending Brokerage 336

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. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Housing Market 507

Housing Market Marketing Real Estate Agent Real Estate 507

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 351

Contracts Lending Investing Investors 351

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Marketing 370

Marketing Contracts Finance Home Value 370

Housing Wire

NOVEMBER 7, 2022

Despite increased competition, wholesale lender Homepoint has rolled out a new home equity line of credit (HELOC) product. The goal is to court more brokers at a time when home equity levels remain high. . A HELOC allows homeowners to access their equity without refinancing their primary mortgage.

Lending 336

Lending Mortgage Finance Investing 336

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.

Loan Officers 386

Loan Officers Real Estate Agent Real Estate Finance 386

Housing Wire

MARCH 18, 2024

A national syndicated columnist has taken a closer look at the reverse mortgage product category after reviewing data from the Consumer Financial Protection Bureau (CFPB) about the industry’s advertising practices , and she says that the product can have utility for older Americans as long as a prospective borrower properly understands it.

Advertising 335

Advertising Mortgage Business Clients 335

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

Lending 343

Lending Housing Market Marketing Investing 343

Housing Wire

MARCH 23, 2022

United Wholesale Mortgage ( UWM ), the nation’s largest wholesale lender, announced on Wednesday a new product that will qualify borrowers for investment properties based on the monthly rental income, rather than the their current income. The new product targets real estate investors, a group that represented 16.4%

Real Estate 383

Real Estate Investors Investing Finance 383

Housing Wire

FEBRUARY 12, 2024

Where should mortgage rates be before I buy or refinance my home? How much home can I afford today? Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel. Do they need to tap into their equity to pay off other debts?

Mortgage 422

Mortgage Clients Business Marketing 422

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Refinancing has seen the biggest impact of the rising-rate pressure. Rate lock production volume activity was down 20.3%

Mortgage 370

Mortgage Home Value Buyers Lending 370

Housing Wire

APRIL 15, 2022

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020. Refinancing originations reached $119 billion, up 58% year-over-year.

Lending 382

Lending Mortgage Marketing 382

Housing Wire

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. That has contributed to UWM’s competitors taking losses on loans when they can least afford it. Jumbo loan volume increased 3.1% Homepoint is in a tough spot.

Mortgage 392

Mortgage Loan Officers Finance Investors 392

Housing Wire

JANUARY 11, 2022

The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing. Also, Redfin hopes it will let the company reduce investments in lending software by using the Bay Equity system.

Loan Officers 460

Loan Officers Lending Real Estate Brokerage 460

Housing Wire

DECEMBER 29, 2023

So my concern is that rates are going to come down but inventory is not going to just all of a sudden be plentiful and now we’re in a situation where home prices get driven up because there is still low inventory. AI can understand the loan status, a loan profile and AI can respond to the consumer.

Mortgage 445

Mortgage Loan Officers Inventory Business 445

Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. on a median-priced home for two years, and it is estimated to “help more than 3.5

Construction 532

Construction Renovations Insurance Landlords 532

Housing Wire

MAY 3, 2022

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. The capital will be used to accelerate Point’s growth in the $25 trillion home-equity market, according to the company’s co-founder and CEO Eddie Lim.

Contracts 410

Contracts Investors Investing Market Value 410

Housing Wire

OCTOBER 17, 2022

BofA’s production decline follows that of its depository peers, JPMorgan Chase and Wells Fargo , which also posted double-digit mortgage loan production decreases during the third quarter. A bright side in the previous quarter, BofA’s home equity originations fell slightly in the third quarter: falling to $2.4

Mortgage 345

Mortgage Contracts Business 345

Housing Wire

APRIL 17, 2023

Elevated mortgage rates are continuing to give homeowners a reason to stay at their current homes, according to the 2023 Borrower Insights Survey conducted by ICE Mortgage Technology. Of those who plan to remain in their homes, about one-third (36%) specifically cite high interest rates as the reason for staying put.

Mortgage 312

Mortgage Finance Investing Home Value 312

Housing Wire

AUGUST 14, 2023

The Fed recently announced yet another interest rate hike, making borrowing more expensive and pushing the prospect of purchasing a new home out of reach for an even greater share of Americans. High mortgage rates hurt home buying and selling prospects. Educate and update Stay connected. Track and report on falling prices.

Real Estate Agent 307

Real Estate Agent Real Estate Clients Agents 307

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. But make no mistake: They’re not your only option when buying or refinancing a home. USDA loans.

Mortgage 427

Mortgage Loan Officers Real Estate Insurance 427

Housing Wire

JUNE 24, 2022

They are not accepting new loan applications, so that probably means they are getting ready to close up the whole thing,” an employee who was affected by the layoff told HousingWire. Licensed in 49 states and the District of Columbia, FGMC offers mortgage loans for new home purchases and refinancings.

Retail 417

Retail Mortgage Investing Business 417

Housing Wire

JULY 14, 2022

Palo Alto, California-based fintech Point , which offers home-equity investment (HEI) contracts to homeowners, is expanding its services into Nevada and Ohio. Nevada homeowners are sitting on more than $150 billion in tappable home equity, and Ohio homeowners have more than $330 billion,” said Eddie Lim, CEO and co-founder of Point.

Contracts 351

Contracts Investing Finance Marketing 351

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. Though it doesn’t bake in origination fees, there is a one-time $1,495 loan processing fee.

Mortgage 400

Mortgage Government Investors Finance 400