Housing Wire

NOVEMBER 26, 2024

Steve Irwin, president of the National Reverse Mortgage Lenders Association (NRMLA), lauded the development. The FHA typically aligns the new HECM limit with the new conforming loan limits, which reflect changes in annual home prices as required by the Housing and Economic Recovery Act of 2008. This is a developing story.

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Housing Wire

JUNE 3, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. The average gain per loan that was terminated without a claim was just over $10,000.

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Housing Wire

APRIL 25, 2024

Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example. This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated.

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Housing Wire

JULY 18, 2024

In a final rule titled “Strengthening the Home Equity Conversion Mortgage Program,” FHA codified several significant changes to the HECM program that were previously issued by HUD under the Housing and Economic Recovery Act (HERA) of 2008 and the Reverse Mortgage Stabilization Act of 2013. But the U.S.

Mortgage 445

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Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

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Housing Wire

FEBRUARY 1, 2021

House of Representatives Committee on Financial Services, including General Counsel, Parliamentarian, and, most recently, Senior Counsel for the Housing and Insurance Subcommittee. Department of Housing and Urban Development. Jones was also a vice president at Fannie Mae and an attorney advisor for the U.S.

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Legal Law Brokerage Finance 482

Housing Wire

MAY 3, 2021

The Federal Housing Finance Agency (FHFA) finalized a rule on Monday that will require Fannie Mae and Freddie Mac to develop plans that would ensure upon their eventual exit from conservatorship, they won’t do any large scale harm to the financial system.

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Housing Wire

MARCH 27, 2023

Shortcuts to well-established processes do not end well — as the 2008 financial crisis demonstrated. The title insurance industry continued to pay out claims, many fraud-related, despite a severe recession. According to Politico , Fannie Mae would waive title insurance requirements for certain transactions under the pilot program.

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Housing Wire

JUNE 30, 2023

million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. Therefore, lenders must follow FHA and VA rules to ensure only loans that meet credit and underwriting criteria are insured or guaranteed by the government.

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Government Insurance Mortgage Legal 397

Housing Wire

AUGUST 19, 2022

Since the 2008 financial crisis, a significant structural change has taken place which over time threatens the long-term stability of housing finance. To be fair, this level of regulatory oversight was needed due to the criticality of banks to the financial system and potential exposure FDIC has by way of federal deposit insurance.

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Housing Wire

NOVEMBER 18, 2022

savings and loan associations, savings banks, and cooperative banks) and insurance companies. It was not until 1989 that Congress expanded membership to all federally insured depository institutions. Thus, if there is a conflict between the super lien and state insurance law, it is unclear which statutory system would prevail.

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Housing Wire

AUGUST 8, 2022

Tornquist served the company for 35 years and became CEO in 2008. Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal. Dave Applegate, a board member since 2020, has been named the company’s chairman.

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Human Resources Finance Legal Insurance 370

Housing Wire

MARCH 18, 2022

Mangus began teaching CE classes designed for real estate agents around 2011, as the mortgage industry was still finding ways to fully recover from the 2008 financial crisis. Over the years I ended up teaching classes on renovation loans, mortgage insurance, mortgage mechanics, etc.,”

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Real Estate Real Estate Agent Mortgage Agents 524

Housing Wire

OCTOBER 28, 2021

The Community Home Lenders Association (CHLA), which represents small and mid-size independent mortgage bankers (IMBs), applauds these developments, and we just submitted comment letters on equitable housing and housing goals on how to build on this. FHFA also should also make permanent the longstanding GSE pilots for direct MI coverage.

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Housing Wire

SEPTEMBER 28, 2023

So, we’re not little, but we’re not big, like some of these companies with 500 developers. We have a development team and so we have software developers, system analysts, business analysts, quality assurance testers, and people that manage deployments. We have smaller teams, but they’re very effective.

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Technology Loan Officers Lending Business 482

Housing Wire

MARCH 15, 2023

It was the biggest bank failure since Washington Mutual collapsed in 2008. That was a favorable development,” Deitch said. Client funds are held in insured deposit accounts at a mix of money centers and regional banks, the company said. The SVB failure was followed by Signature Bank, which closed its doors on Sunday.

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Housing Wire

MAY 10, 2022

In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). In addition, the filing trends are a byproduct of the strengthening, increased awareness and broader enforcement of anti-fraud laws in the years since the 2007-2008 housing market crisis.

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Housing Wire

SEPTEMBER 23, 2022

In contrast, since 2008, many large banks have exited the mortgage market or targeted loans to higher FICO , higher wealth borrowers, in order to support their strategic objective of cross-selling other lucrative products. . Many community banks do a great job of mortgage lending to underserved homebuyers.

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Lending Mortgage Insurance Finance 370

Appraisal Buzz

AUGUST 30, 2024

Advancing Your Digital Default Servicing Strategy ” aims to enable servicers and vendors to develop a strategy for minimizing default servicing labor costs while increasing pull-through rates. in 2003—a software company that gained 60% market share of the REO asset management component of the financial services industry by 2008.

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Mortgage Client Relationships Law Finance 221

Housing Wire

JULY 20, 2023

Same market, different players Following the financial crisis of 2008, depositary lenders retreated from the residential mortgage markets due to higher capital costs and reduced profitability. First Republic Bank , rescued by JPMorgan Chase in May, Wells Fargo and JPMorgan were the top three jumbo producers in the period.

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Mortgage Marketing Lending Finance 370

Housing Wire

MAY 6, 2024

During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view. Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer.

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Housing Wire

JUNE 27, 2022

Less business for lenders and real estate brokerages, in return, is hurting title companies, tech vendors, appraisers and mortgage insurance firms. Compared with 2021, origination volume is expected to drop 40% from last year’s $4 trillion origination volume. billion, laid off 40 workers, or about 10% of its staff. “In

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Housing Wire

OCTOBER 4, 2024

According to the SAFE Mortgage Licensing Act of 2008, all aspiring mortgage loan officers have to pass the SAFE MLO exam to get a NMLS license. If the borrower’s monthly gross income is $5,000, what is the maximum allowable monthly mortgage payment (including taxes and insurance) according to the front-end ratio?

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Real Estate Loan Officers Tools Lending 448

Appraisal Buzz

JUNE 21, 2024

Ryan McGuinness serves as a Mortgage Servicing Policy Director in Freddie Mac’s Single-Family Servicing Division, responsible for recommending, developing, communicating, implementing, and monitoring servicing policies and requirements. McGuinness has been with Freddie Mac for nearly 16 years, and has devoted most of that time to policy work.

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Law Property Management Technology Legal 195

Housing Wire

MAY 26, 2023

Far more often than not, however, we mean “sales” or “development” when we say it. Scott Kriss founded Kriss Law/Atlantic Closing & Escrow in 2008. The answers to these questions will invariably play a major role in how well your new offering performs. Get the message out As in industry, we talk a lot about marketing.

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Business Marketing Law Technology 370

Housing Wire

MARCH 7, 2022

A deed transfer often includes the new owner ensuring they are the property holder through title insurance. Before starting Propy, Karayaneva ran a real estate investment firm in Bulgaria for 15 years and earned a master’s degree at the University of Oxford in sustainable urban development.

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Real Estate Law Inspection Agents 501

Housing Wire

AUGUST 25, 2022

.” Lenders are making a play with jumbo adjustable-rate mortgages (ARM), a product that has made a comeback after falling out of favor due to their role in the housing crash of 2008 and a decade-plus of fixed-rate mortgages under 5%. Homepoint has decided to pause on entering the non-QM fray. ” Tapping that equity.

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Mortgage Loan Officers Finance Investors 418

Housing Wire

NOVEMBER 10, 2022

“This creates a challenging environment for volume-sensitive businesses such as mortgage originators and title insurers.” In Iowa, the workforce reduction came from its Des Moines and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development.

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Mortgage Loan Officers Lending Business 370

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. All of this has resulted in a nosedive in homebuilder sentiment.

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Housing Wire

FEBRUARY 8, 2022

Some are especially haunted by the Great Recession between 2008 and 2011. Department of Housing and Urban Development approved housing counseling agencies to do more effective outreach to some of the harder-to-reach borrowers. Servicers are looking for different ways to connect with borrowers.

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Law Mortgage Legal Finance 370

D Fritz Appraisals

JULY 7, 2021

It hasn’t just been existing homes either, plots of land and new developments have been selling just as fast as the listing goes live. Our appraisers are certified, professionally insured and dedicated to providing the most precise property valuations possible. Fritz Appraisals Inc.,

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Real Estate Appraisal Buyers Valuation 140

Appraisal Today

MAY 10, 2024

These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. Humans, including appraisers, don’t like change.

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Reconsideration of Value Appraisal Real Estate Insurance 82

Housing Wire

MARCH 28, 2024

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. By law it is not an insurer nor is it capitalized or regulated to do this. million in claims.

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Insurance Transportation Property Taxes Real Estate 468

Property Metrics

DECEMBER 4, 2020

Throughout history, there is a long list of notable bank failures, the largest of which occurred in 2008 when Washington Mutual collapsed with $307 billion in assets. To prevent this, analysts have developed a set of metrics that act as a sort of early warning system of potential bank failures. Why Does the Texas Ratio Matter?

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Tenants Development Lending Retail 53

McKissock

SEPTEMBER 7, 2021

A man I know told me in 2008 he’d lost his house to foreclosure. Learn more in our free guide, The ROI of Professional Development for Appraisers. H) Having to go to alternative neighborhoods for comparables because home prices are growing out of reason for the immediate market area. in the past year. Obvious signs.

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Marketing Real Estate Appraisal Inventory 71

Will Springer Realtor

JULY 6, 2021

It’s believed to be the first such conversion in Seattle since 2008. While most homeowners near downtown are on the hook to pay for a local investment tax to pay for the ongoing waterfront upgrades , developers of The Goodwin are covering the unofficial $53,680 levy for all owners. Homeowners dues are still to be determined.

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Housing Wire

APRIL 12, 2024

But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis. Aside from taxes, property insurance costs have also risen, and coverage may even be difficult to find in some areas. foreclosure rate at 0.3%

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