Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time. The goal for the lender is to have half of its production volume come from investment properties in 2023 — up from the current 10 to 15%.

Lending 418

Lending Real Estate Agent Loan Officers Retail 418

Housing Wire

APRIL 29, 2022

Connecticut-based mortgage servicer and lender Planet Home Lending has entered into an agreement to acquire assets from Homepoint ‘s delegated correspondent channel for $2.5 Founded in 2007, Planet Home Lending originated $28 billion in 2021, up 45% year-over-year, checking in as the 31st biggest lender in the U.S.,

Lending 397

Lending Finance Business Mortgage 397

Housing Wire

MARCH 23, 2021

As origination volumes hit record highs in 2020, Truework’s verification experts saw a spike in fraud in mortgage lending, and expect that trend to continue this year. Now is the time for lenders to tighten their procedures not only on recruiting and hiring practices, but also lending operations. Data-driven analysis. Covid challenges.

Lending 476

Lending Mortgage Sellers Technology 476

Appraisal Buzz

NOVEMBER 19, 2024

This decline in small-dollar mortgage lending has had a significant impact on homeownership in the U.S., The “Socioeconomic Consequences” report explores the decline in small-dollar mortgage lending and its impact on homeownership in three U.S. particularly in low-income communities. cities: Philadelphia, Pennsylvania; St.

Lending 418

Lending Mortgage Investors Development 418

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

Mortgage 493

Mortgage Lending Loan Officers Government 493

Housing Wire

MAY 31, 2024

Large institutional investors typically emerged following a raft of defaults and foreclosures stemming from the 2007-08 financial crisis , putting inventory on the market from 2007-09. Additionally, technological advancements allowed companies to acquire and manage large portfolios of single-family homes more easily.”

Investors 465

Investors Inventory Government Construction 465

Housing Wire

MAY 20, 2022

Planet Financial Group, an integrated family of companies delivering origination, servicing, and asset management solutions, is the parent of Planet Home Lending. Founded in 2007, Planet Home Lending originated $28 billion in 2021, up 45% year over year, becoming the 31st biggest lender in the country, according to Inside Mortgage Finance.

Lending 435

Lending Finance Mortgage 435

Housing Wire

MAY 8, 2024

Founded in 2007 in Las Vegas , Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers. In 2022 , it added Lone Peak Lending. PMG offers platforms for human resources, finance, technology , legal and compliance services to its group of lenders.

Human Resources 440

Human Resources Mortgage Legal Design 440

Housing Wire

NOVEMBER 3, 2023

The 32-page report features details about the ways state governments aim to ensure financial institutions’ lending, services and investment activities meet the credit needs of their local communities, including mortgage companies, credit unions and banks. By 2007, this share had declined to just 28%. Some states go even further.

Law 447

Law Lending Investing Mortgage 447

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The acquisition is intended to enable Seattle-based Redfin to expand its loans products nationally, as it wants to be a one-stop-shop for brokerage and lending.

Loan Officers 488

Loan Officers Lending Real Estate Brokerage 488

Housing Wire

SEPTEMBER 15, 2023

That is how the director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra , began his remarks marking the 15th anniversary of the collapse of Lehman Brothers , the first proverbial domino to fall in the financial crisis of 2007-08 that ultimately gave rise to the establishment of the CFPB.

Law 435

Law Lending Investing Insurance 435

Eyes on Housing

OCTOBER 28, 2022

of the total in Q3 2022–the smallest share since the fourth quarter of 2007. NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% The share has dropped by nearly two-thirds since the spring of 2020.

Finance 190

Finance Lending Mortgage 190

Appraisal Buzz

AUGUST 14, 2024

Planet Home Lending , a national mortgage lender and servicer, has acquired certain assets of retail lender Axia Home Loans, Bellevue, Washington, an employee-owned company with branches in 17 states. Axia Home Loans, founded in 2007, became the first 100% employee-owned mortgage company in America in 2016.

Lending 195

Lending Retail Mortgage Marketing 195

Housing Wire

NOVEMBER 10, 2022

Altogether, the last time the Fed hammered inflation with a rise in lending rates, housing sales fell 49% from the peak in 1978 to the trough of 1982 before bouncing upward by 39% in 1983 over 1982’s low. from 2006 to 2007 and another 20.9% from 2007 to 2008. Existing home sales hit 4 million units in 1978 for the first time.

Mortgage 493

Mortgage Housing Market Lending Finance 493

Housing Wire

FEBRUARY 20, 2024

The division’s leadership team will now also include Dan Ventura, who has served at Fairway since 2007 and last year was appointed as VP of reverse mortgage operations. Ventura’s new position is as president of reverse lending, where he succeeds former reverse lending president Tane Cabe.

Investing 459

Investing Mortgage Lending Business 459

Housing Wire

MAY 3, 2024

After the last crash, builders scaled back significantly and never fully recovered to pre-2007 levels. Stringent lending standards In the aftermath of the 2008 housing crisis, lax lending standards were identified as a major contributor. In 2024, the housing market is set to continue on.

Inventory 455

Inventory Inspection Lending Real Estate 455

Housing Wire

JULY 17, 2023

Mozilo avoided working with subprime loans until the late 1990s, when after noticing that his firm was losing business to competitors, Countywide embraced the type of subprime mortgage lending that eventually led to the housing crisis in 2008. And they did it at a massive scale. Mozilo settled with the SEC in October 2010 for $67.5

Lending 370

Lending Business Mortgage Government 370

Housing Wire

OCTOBER 23, 2020

Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. The lawsuit, brought initially in 2016, alleged that Guild knowingly originated and underwrote mortgages that didn’t meet the program requirements of the FHA.

Mortgage 505

Mortgage Government Retail Lending 505

Housing Wire

FEBRUARY 14, 2022

Heidi brings deep expertise in areas across the legal spectrum, including in mortgage lending, servicing, credit access and regulatory matters, among others,” said Michael DeVito, CEO of Freddie Mac. “I Weiss was the fifth-highest earning named executive officer at Freddie Mac in 2021, with a total compensation of $2.3

Legal 370

Legal Law Lending Development 370

Housing Wire

MARCH 20, 2023

McGarry joined Guild in 1984 as a supervisor in internal audit and held several leadership positions until promoted to president in 2005 and CEO in 2007. Guild’s executive vice president David Neylan, who joined the company in 2007, will replace Schmidt as president. Terry Schmidt, Guild’s current president, is the successor.

Retail 370

Retail Loan Officers Mortgage Investing 370

Housing Wire

NOVEMBER 24, 2021

During the past decade, as CRA-regulated banks withdrew from home mortgage lending, IMBs stepped up to become the dominant source of mortgage loans, doing a much better job than banks of lending to underserved borrowers [See CHLA’s 2021 IMB Report ]. CRA for IMBs is a solution in search of a problem. So what could have an impact?

Advertising 435

Advertising Lending Mortgage Law 435

Housing Wire

MARCH 31, 2022

Based on present evidence, there is no expectation that fallout from a housing correction would be comparable to the 2007–09 Global Financial Crisis in terms of magnitude or macroeconomic gravity. The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place.

Housing Market 532

Housing Market Inventory Lending Marketing 532

Housing Wire

OCTOBER 31, 2022

Both these laws paved the way for more responsible lending and a more responsible consumer. However, total inventory levels today are below 2019, 2014, 2007, 2005, and 2000 levels because homeowners are in a good place financially. million in 2005 to over 4 million in 2007, with foreclosures and bankruptcies rising since then.

Law 523

Law Inventory Lending Mortgage 523

Housing Wire

SEPTEMBER 13, 2022

California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire. . And I believe we went through a reset, the same way we did back in 2006 and 2007.

Mortgage 370

Mortgage Loan Officers Retail Lending 370

Housing Wire

OCTOBER 2, 2020

In the fallout of the housing collapse of 2007- 2009, the U.S. It grew from that point forward as the vacuum in lending enlarged as many large banks and other lenders failed — and those that survived reduced their footprint in mortgages. Nonbanks do not set the rules of lending. They sell all of their loans to investors.

Investors 528

Investors Government Lending Mortgage 528

Housing Wire

SEPTEMBER 23, 2022

As bank regulators conduct a major CRA rulemaking, an honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers. So why would we extend it to IMBs? These are all laudable social objectives.

Lending 370

Lending Mortgage Insurance Finance 370

Housing Wire

MAY 31, 2022

Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm. Mortgage lender Planet Home Lending has a new team in Portland, Oregon, where it will focus on borrowers looking to work with homebuilders. Department of Agriculture (USDA).

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

DECEMBER 29, 2022

So, when housing peaked in 2005, we had a flood of inventory from home sellers who couldn’t buy a home, and that flood allowed the list to spike to over 4 million in 2007. As you can see below, today — a few days away from 2023 —with existing home sales trending at 2007 sales levels, it is strikingly different.

Housing Market 546

Housing Market Marketing Inventory Sellers 546

Housing Wire

DECEMBER 13, 2024

Planet Financial Group , the parent company of Planet Home Lending , completed the issuance of $475 million in senior unsecured notes this week, the latest mortgage company to raise debt in an oversubscribed transaction. The companys initial target for the offering was $400 million. The notes, which carry a 10.5%

Retail 360

Retail Loan Officers Investors Lending 360

Housing Wire

MARCH 1, 2022

Prior to her seven-year stint at the Federal Home Loan Bank of Pittsburgh, from 2013 to 2014 Anderson worked as an attorney at Relman, Dane & Colfax PLLC , specializing in fair lending counseling and compliance. Before that, she worked at Ballard Spahr in public finance and housing. It will not be her first time at Fannie Mae.

Human Resources 418

Human Resources Government Finance Mortgage 418

Housing Wire

APRIL 16, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. Today, even though sales are trending at 2007 levels, we are at 980,000 total active listings, per the last existing home sales. Even though the market stress has decreased lately, the assumption is that credit will only get tighter as the year grows.

Inventory 539

Inventory Housing Market Marketing New Listings 539

Housing Wire

MAY 7, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

OCTOBER 18, 2022

If appraisal values experience a pronounced downturn, it could indicate serious issues and lead to another crisis similar to 2007-08. Ravi Correa is Chief Financial Officer at Angel Oak Lending and responsible for all financial aspects for Angel Oak-related mortgage lending entities.

Mortgage 370

Mortgage Marketing Lending Finance 370

Appraisal Buzz

NOVEMBER 26, 2024

He is also an online contributor to Forbes, Chairman of the Board of Cascade Policy Institute, and the author of The Flexible Stance: Thriving in a Boom/Bust Economy (2016) and Businomics (2007), a book about economics for business leaders.

Real Estate 367

Real Estate Tenants Insurance Construction 367

Housing Wire

FEBRUARY 10, 2022

This acquisition expands our footprint in the digital mortgage ecosystem, and we are thrilled to have them join us as we continue to develop innovative and streamlined technology solutions in the lending space.”. ReverseVision marks the second mortgage software provider acquired by CMS in the last couple of years.

Development 397

Development Modernization Technology Mortgage 397

Housing Wire

OCTOBER 5, 2023

That is the ultimate lever — it is really the only lever that the mortgage lending community has. I worked for a mortgage company from 2007 until 2013 — that’s where I learned the industry. SW: What’s the advantage of coming from the lending side as opposed to the tech side?

Technology 448

Technology Lending Mortgage Business 448

Housing Wire

JANUARY 18, 2023

While the housing market looks a lot more robust than it did during the financial crisis in 2007, and there are quality loans and stricter underwriting guidelines with the Dodd-Frank Wall Street Reform and Consumer Protection Act in place to prevent lenders’ predatory lending practices, consumers face affordability challenges, Brian Brown , Rocket (..)

Housing Market 476

Housing Market Marketing Insurance Mortgage 476