Housing Wire

NOVEMBER 10, 2022

From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. Mortgage rates today are not much higher than they were then. One challenging historical fact is that while mortgage rates fell from 13.24% in 1983 to 7.81% in 1996, it took that long for housing sales to reach the levels they did in 1978 to 1979.

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Mortgage Housing Market Lending Finance 493

Housing Wire

MARCH 31, 2021

Mortgage applications decreased for the fourth straight week – this time down 2.2%, according to the latest report from the Mortgage Bankers Association. Record-low inventory is pushing home-price growth at double the rate from a year ago, and even above the 10% growth rates seen in 2005,” Kan said. from the week prior.

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Mortgage Contracts Inventory Lending 459

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. Both these laws paved the way for more responsible lending and a more responsible consumer. Today, we are at 1.25

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Law Inventory Lending Mortgage 523

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Production falls. Home sales.

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Housing Market Marketing Inventory Sellers 546

Housing Wire

MARCH 15, 2021

First, the refinance boom’s main driver in the 2000s was unhealthy because of the marketplace’s speculative unhealthy lending standards. Home prices were growing at an unsustainable level from 2002-2005, leading to some excess risk-taking on inadequate loan debt structures. The rest of this content is for HW+ members. Already a member?

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Lending Housing Market Mortgage Marketing 543

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Mortgage Marketing Retail Lending 526

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk.

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Housing Market Mortgage Law Marketing 539

Housing Wire

JUNE 12, 2024

of homes with mortgages were underwater, totaling just over 11 million homes. However, the situation has significantly improved since then, thanks to the Qualified Mortgage rule (QM) that was implemented in 2010. of homes that have a mortgage. of homes that have a mortgage. What a difference a cycle makes, right?

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Housing Market Mortgage Law Government 505

Housing Wire

MARCH 31, 2022

” The notion that educated homeowners with positive cash flow — who aren’t showing any stress in making their low payments thanks to historically low mortgage rates — would sell at 50%, 60% to 70% off current values and go back to renting, doesn’t seem realistic. Home prices have grown 108.3% Our evidence points to abnormal U.S.

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Housing Market Inventory Lending Marketing 532

Housing Wire

APRIL 23, 2024

Guaranteed Rate made two significant executive appointments, the Chicago -based mortgage lender announced on Monday. CJ Rose was promoted to the role of executive vice president of growth and acquisition, while Chris Hutchens was hired as producing area manager for North Carolina and senior vice president of mortgage lending.

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Loan Officers Real Estate Business Brokerage 448

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

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Mortgage Inventory Housing Market Construction 505

Housing Wire

AUGUST 21, 2020

That belief, however, assumes that one does not understand the two main drivers of housing: demographics and mortgage rates. As it happens, these fabulous demographics are accompanied by the lowest mortgage rates ever recorded in history. All that other stuff, my friends, is just stamp collecting.

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Housing Market Mortgage Buyers Marketing 544

Housing Wire

AUGUST 31, 2023

Encompass Lending Group , a subsidiary of real-estate services platform Fathom Holdings, has acquired Austin, Texas-based Elite Financing Group, the company announced Thursday. Elite brings local market expertise which should help strengthen Fathom’s mortgage business in Texas, he added. Terms of the deal were not disclosed.

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Finance Lending Retail Mortgage 418

Housing Wire

OCTOBER 18, 2022

To say that mortgage lenders are facing challenging times would be a considerable understatement. The last time that the rate reached 3.25% was in 2005 — and we all know how that story unfolded. The substantial increases this year present challenges in the mortgage sector, as the note rates produced can become illiquid if not hedged.

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Mortgage Marketing Lending Finance 370

Housing Wire

FEBRUARY 3, 2025

A reverse mortgage loan has first-priority status in a Pennsylvania foreclosure dispute, after initially being rejected by the trial court according to court documents reviewed by HousingWire s Reverse Mortgage Daily (RMD), and an analysis by attorneys at law firm Wilentz, Goldman & Spitzer, P.A. with a traditional mortgage.

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Mortgage HOA Law Property Taxes 329

Housing Wire

MARCH 15, 2021

The creation of the Home Mortgage Disclosure Act (HMDA) in 1975 required lenders to track and report loan-level data to the Consumer Financial Protection Bureau (CFPB) in an effort to reduce redlining, and finally, in 1988, amendments made to the Fair Housing Act of 1968 deemed it illegal. Per Redfin, 58.1% and Chicago.

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Real Estate Agent Lending Real Estate Design 447

Housing Wire

OCTOBER 12, 2020

Due to the loosey-goosey lending standards of the time, many of these delinquent loan holders had little to negative equity. Mortgage demand, too, is at an 11-year high. Housing data started to soften in 2005 after an overheated market. And third — mortgage rates are very low.

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Inventory Housing Market Marketing Mortgage 545

Housing Wire

FEBRUARY 2, 2022

Mortgage industry participants may disagree a great deal on several different topics. However, I expect that you would find no argument with the following statement: Mortgage lending is a highly competitive business. Make no mistake: the mortgage market has become more competitive.

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Mortgage Retail Loan Officers Business 418

Housing Wire

SEPTEMBER 22, 2020

The new home sales market is doing well as it really benefits from lower mortgage rates. Good housing demographics, housing tenure at 10 years and low mortgage rates are a perfect recipe for unhealthy home-price growth. Mortgage rates are one of the primary drivers of demand. It is not out of the question that we can get to 6.2

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Housing Market Marketing Construction Buyers 543

Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. As you can see below, we haven’t had the mortgage credit boom like we saw during the housing bubble years.

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Inventory Law Housing Market Design 544

Housing Wire

AUGUST 30, 2022

However, we haven’t had a credit sales boom like the one we saw from 2002-2005. Nor can we ever have a credit sales boom again with lending standards back to normal. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 million listings.

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Inventory New Listings Law Housing Market 397

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. in 2005, the MBA said. The mortgage industry is different from 14 years ago.

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Mortgage Bracketing Loan Officers Investors 370

Housing Wire

JULY 17, 2023

Mozilo was a pioneer of the mortgage industry, though a deeply controversial figure. “Independent of how people outside of the industry may perceive this man, insiders know what an incredible force he was,” his son Eric Mozilo wrote in a LinkedIn post. Mozilo was president of the Mortgage Bankers Association (MBA) in 1991-1992.

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Housing Wire

JANUARY 20, 2023

From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.” Also, this is what the Federal Reserve wants.

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Inventory Housing Market New Listings Marketing 541

Housing Wire

SEPTEMBER 28, 2023

John Ashley: I’ve collaborated with PRMG since late 2005 and my background was network infrastructure and security. SW: What’s been the biggest change since you started at PRMG in 2005? Now every mortgage that’s recorded has a lender name and it’s got the originator’s NMLS number on every single loan.

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Technology Loan Officers Lending Business 482

Housing Wire

MAY 26, 2022

At least two financial institutions brought back adjustable-rate mortgage (ARM) products this week amid surging mortgage rates and double-digit home price growth. this month, a 14-year high, compared to just 3% at the beginning of the year, according to the Mortgage Bankers Association. Applications for ARMs rose 10.8%

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Loan Officers Housing Market Mortgage Buyers 418

Housing Wire

JUNE 6, 2023

Cenlar FSB , the second-largest mortgage servicer and largest subservicer in the U.S., With over 25 years of experience in portfolio management, he brings to the role an extensive expertise in default mortgage servicing. Its client base includes banks, credit unions, and mortgage bankers. territories.

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Valuation Clients Contracts Mortgage 370

Housing Wire

MARCH 20, 2023

Retail lender Guild Mortgage announced Monday that Mary Ann McGarry is retiring from the CEO position in late June, remaining on the California-based lender’s board of directors after retirement. McGarry has also led the lender through several acquisitions of late, including Cherry Creek Mortgage , Inlanta Mortgage and Legacy Mortgage.

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Retail Loan Officers Mortgage Investing 370

Housing Wire

JUNE 1, 2022

The lenders, Homepoint and United Wholesale Mortgage , say Fannie Mae and Freddie Mac started tacking on an extra 15 basis point charge for third-party originated, or wholesale, loans in mid-2021. A United Wholesale Mortgage spokesperson said the extra surcharge is part of an “old school 2007/2008 viewpoint that has become outdated.”.

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Retail Government Finance Mortgage 397

Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

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Housing Market Finance Marketing Mortgage 397

Housing Wire

JUNE 21, 2022

Recently, Intercontinental Exchange (ICE) announced a plan to acquire Black Knight in a reported $13 billion deal that, if approved by federal regulators, would certainly be one of the largest acquisitions ever in the mortgage technology space. Mortgage competition is critical. This is already a significant amount of data to own.

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Transportation Technology Retail Mortgage 418

Housing Wire

MAY 7, 2023

We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell. Mortgage rates fell last week as we started the week at 6.73%, got as low as 6.43% to end the week at 6.5%. Mortgage rates fell to a low of 6.43% then ended the week at 6.5%.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

MAY 17, 2023

Although the number of flips last year was the highest since at least 2005, ATTOM reports that “profit margins on the typical flip in 2022, which took an average of 5 ½ months to complete, slumped to just 26.9%.” 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.

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Finance Marketing Renovations Investors 370

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. It is not our job to kill or make deals.

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Appraisal Clients Real Estate Sellers 418

Housing Wire

APRIL 8, 2022

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. housing market, and we should never ease lending standards to try to facilitate demand. We had a credit boom.

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Housing Market Marketing Inventory Lending 418

Housing Wire

MARCH 28, 2022

Industry newsletters are reporting that mortgage lenders are tightening their belts as the cost to manufacture a loan peaks at a decade high of $9,299. mortgage loan originations, the largest annual volume on record since 2005. mortgage loan originations, the largest annual volume on record since 2005.

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Marketing Real Estate Agent Business Transportation 370

Appraisal Buzz

AUGUST 30, 2024

This roundtable offers the opportunity to engage in critical discussions that examine the current state of the single-family rental (SFR) industry, covering topics from lending strategies to property management, tech tools, build-for-rent demand, and much more. Set for Wednesday, September 25 from 1:30 p.m.-4:45

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