Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S. Data-driven analysis.

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Lending Mortgage Sellers Technology 476

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. The post Mortgage lenders are loosening standards on jumbos appeared first on HousingWire.

Mortgage 493

Mortgage Lending Government Loan Officers 493

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 Homepoint was the 11th biggest residential mortgage lender in the country last year, originating $96 billion in residential mortgages, up 55.2%

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Lending Finance Business Mortgage 397

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. After the 2008 mortgage meltdown, JVM let go of all its loan originators and trained its employees to target the jumbo loan market in the San Francisco Bay area instead.

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Lending Real Estate Agent Loan Officers Retail 418

Housing Wire

FEBRUARY 20, 2024

Fairway Independent Mortgage Corporation announced on Tuesday a series of reverse mortgage maneuvers designed to increase the company’s investment in the space. 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.

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Investing Mortgage Lending Business 459

Housing Wire

MAY 8, 2024

Nonbank lender Panorama Mortgage Group (PMG) launched a new program that allows first-time homebuyers to take out a loan with a 1% down payment , the company announced on Wednesday. Founded in 2007 in Las Vegas , Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers.

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Human Resources Mortgage Legal Design 433

Appraisal Buzz

NOVEMBER 19, 2024

This is due to several factors, including rising housing costs, stagnant wages, and a decline in the availability of small-dollar mortgages, defined as those for homes priced at $150,000 or below. Cities: A Qualitative Analysis ” and “ The Socioeconomic Consequences of the Decline in Small Mortgages.” Authored by Craig J.

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Lending Mortgage Investors Development 418

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.

Mortgage 493

Mortgage Housing Market Lending Finance 493

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

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Mortgage Government Retail Lending 505

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm.

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

NOVEMBER 3, 2023

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they promote reinvestment activities for entities including mortgage companies. In 1977, banks held 74% of outstanding mortgage debt. By 2007, this share had declined to just 28%.

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Law Lending Investing Government 446

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. The post Point Mortgage Corp.

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Mortgage Loan Officers Retail Lending 370

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.

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Loan Officers Lending Real Estate Brokerage 488

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.”

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Investors Inventory Government Construction 462

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.

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Lending Finance Mortgage 435

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. financial system, he said.

Law 435

Law Lending Investing Insurance 435

Housing Wire

AUGUST 23, 2021

As the economic recovery from COVID-19 continues, conflicting trends in mortgage credit availability have emerged. The Federal Reserve Bank of New York reports that the number of mortgages reached its highest level to date in 2020, with $1.2 trillion in new home loans in the fourth quarter of 2020 alone. this June. .

Mortgage 448

Mortgage Tools Design Lending 448

Housing Wire

OCTOBER 18, 2022

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

Mortgage 370

Mortgage Marketing Lending Finance 370

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. If buyers feel they are paying top dollar due to increasing mortgage rates, they want their new home to be in move-in-ready condition.

Inventory 451

Inventory Lending Inspection Real Estate 451

Housing Wire

NOVEMBER 24, 2021

The state of New York recently adopted legislation applying the Community Reinvestment Act (CRA) to nonbank mortgage lenders, also known as independent mortgage banks (IMBs). But, as the last decade shows, it has not worked very well for mortgage loans (and banks often meet CRA requirements simply by buying IMB-originated loans).

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Advertising Lending Mortgage Law 434

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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Lending Business Mortgage Government 370

Housing Wire

NOVEMBER 15, 2024

However, I will give you all the charts to show Uncle Dave that housing credit doesn’t look like it did in 2008 because the qualified mortgage (QM) law makes that impossible. None of that action has been happening for 14 years because the credit market changed after the 2010 qualified mortgage rule.

New Listings 521

New Listings Sellers Mortgage Law 521

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

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.

Retail 370

Retail Loan Officers Mortgage Investing 370

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear. “I higher than last year.

Mortgage 397

Mortgage Loan Officers Inventory Retail 397

Housing Wire

OCTOBER 2, 2020

In the fallout of the housing collapse of 2007- 2009, the U.S. There are a few lessons to remember here: Nonbanks did not create the unsustainable mortgage market. This was the beginning of the more significant growth of nonbanks in the mortgage industry. Nonbanks do not set the rules of lending.

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Government Investors Lending Mortgage 528

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%

Housing Market 532

Housing Market Inventory Lending Marketing 532

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

Law 523

Law Inventory Lending Mortgage 523

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

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.

Housing Market 546

Housing Market Marketing Inventory Sellers 546

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers.

Lending 370

Lending Mortgage Insurance Finance 370

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. billion in mortgages between January and September, marking a 33.7% The notes, which carry a 10.5%

Retail 314

Retail Loan Officers Investors Lending 314

Appraisal Buzz

NOVEMBER 26, 2024

Stone discussed challenges in the real estate and mortgage sectors, emphasizing operational efficiency and preparedness in light of regulatory changes, housing supply concerns, and evolving market dynamics. Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability.

Real Estate 367

Real Estate Insurance Construction Housing Market 367

Housing Wire

APRIL 16, 2023

Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%. This is one reason housing inventory has taken so long to bottom out.

Inventory 539

Inventory Housing Market Marketing New Listings 539

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

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%. In 2007, when sales were down big, total active listings peaked at over 4 million.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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Housing Market Marketing Insurance Mortgage 476