Housing Wire

FEBRUARY 7, 2024

The Housing and Economic Recovery Act of 2008 (HERA) “codified housing goals and added a Duty to Serve, which gives FHFA the tools to ensure that Fannie and Freddie stay focused on affordable housing and serving the housing needs of low- and moderate-income families instead of using a federal backstop to just cherry-pick the most lucrative loans.”

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Land Lease Law Finance Government 459

Housing Wire

NOVEMBER 7, 2022

Industry veterans Alim Kassam, Brian O’Shaughnessy and Kevin O’Shaughnessy founded Athas Capital Group and its in-house financing arm Rama Capital when the financial crisis hit the country in 2008. Since 2008, it has funded over 14,000 loans, reaching $5.5 billion in volume and becoming a top 10 non-QM originator.

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Lending Investors Business Mortgage 459

Housing Wire

NOVEMBER 1, 2023

As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis. Avoid the dreaded info dump, where lending products display on an endless scroll with intimidating blocks of text.

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Lending Loan Officers Mortgage Development 435

Housing Wire

OCTOBER 16, 2024

Department of Housing and Urban Development (HUD) have published a new report identifying the locations of people seeking Federal Housing Administration (FHA) rental and homeownership assistance programs. The 2008 study, however, did not account for information on the borrower’s race and only examined data in metropolitan areas.

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Tenants Investing Housing Market Mortgage 488

Housing Wire

NOVEMBER 12, 2024

Wallace served as managing director at financial services firm Lehman Brothers before the company went bankrupt in 2008 following the nationwide financial crisis. Prior to Haven, Wallace served as the general manager of lending at Figure Technologies — a leading nonbank home equity line of credit lender — and as CEO of FirstKey Mortgage.

Technology 370

Technology Finance Mortgage Marketing 370

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So

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Retail Mortgage Loan Officers Marketing 370

Housing Wire

JANUARY 27, 2021

I’m excited to rally for the independent originator by leading AIME’s support of brokers to develop future initiatives that are essential to the growth of the channel,” Sweeney said in a statement on Wednesday. Marc Summers, who leads Priority Mortgage Lending , will continue as president of the broker advocacy organization.

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Brokerage Lending Mortgage Development 366

Housing Wire

JULY 18, 2024

Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture. Department of Housing and Urban Development (HUD) never fully implemented this. “To These proposals build upon several changes FHA made to the HECM program on Jan. But the U.S.

Mortgage 443

Mortgage Design Insurance Lending 443

Housing Wire

APRIL 13, 2022

According to a recent MBA report, per-loan production expenses reached $8,664 in 2021, compared to $ 7,578 in 2020, the highest level since the inception of their report in 2008. We’ve made a lot of progress,” said Thomas Wind, executive vice president of consumer lending at the U.S. Bank Home Mortgage. The Minnesota-based U.S.

Mortgage 435

Mortgage Technology Development Investing 435

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? CRA has not made a difference.

Lending 370

Lending Mortgage Insurance Finance 370

Housing Wire

JULY 25, 2023

So fix-and-flip lending is directly helping that supply and demand issue in terms of creating new housing stock or upgrading what would otherwise be dilapidated housing stock,” Faes said. We are able to essentially lend against the asset and move very quickly,” Faes said. LendInvest has more than $4.7 billion (£3.7

Finance 370

Finance Marketing Lending Inventory 370

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HousingWire: What role has wholesale lending historically played in the mortgage ecosystem?

Mortgage 370

Mortgage Retail Lending Loan Officers 370

Housing Wire

SEPTEMBER 22, 2020

The context for this number is that from 2008-2019 my belief was that we would have the weakest housing recovery ever, but in the years 2020-2024, our demographics for housing became vastly improved. million in years 2020-2024 I will consider this an outperforming metric compared to what we saw from 2008-2019. higher than a year ago.

Housing Market 543

Housing Market Marketing Construction Buyers 543

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. Fannie Mae and Freddie Mac have been under government conservatorship since the beginning of 2008.

Lending 370

Lending Government Mortgage Marketing 370

Appraisal Buzz

OCTOBER 4, 2024

The NMDB quarterly data releases allow the public to monitor and more closely examine the data to identify emerging mortgage market trends as they develop.” Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics.

Mortgage 360

Mortgage Tools Lending Finance 360

Housing Wire

NOVEMBER 23, 2021

To run the hub, the company hired Casey Nunn, a former Rocket Mortgage and Homepoint executive, as the vice president of wholesale lending. Interfirst was founded in 2001 as a retail originator and then expanded to the wholesale channel and the correspondent channel in 2008 and 2011, respectively.

Mortgage 397

Mortgage Loan Officers Retail Technology 397

Housing Wire

JULY 29, 2021

In their study, these researchers examined the 2008 financial crisis and its impact on nonbank liquidity. They further state: “The collapse of the short-term funding structure of nonbanks and some depositories, such as Countrywide Financial , led to rapid losses in liquidity and lending activity.

Sellers 448

Sellers Mortgage Business Lending 448

Appraisal Buzz

JUNE 11, 2024

History of the DTS program FHFA issued a final rule in 2016 that implemented the DTS provisions of the Housing and Economic Recovery Act of 2008 (HERA). Department of Housing & Urban Development (HUD) and U.S. “I look forward to hearing the public’s input and feedback on the plans the Enterprises have proposed.”

Finance 390

Finance Real Property Design Lending 390

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.

Technology 482

Technology Loan Officers Lending Business 482

Housing Wire

OCTOBER 1, 2020

Kang attributed the actions, at best, as a “dispute over alleged technical violations and process errors related to the underwriting of HECM’s” between 2008 and 2010. Attorney’s Office for the District of Columbia, the Department of Housing and Urban Development and HUD’s Office of Inspector General. “We

Legal 426

Legal Insurance Law Mortgage 426

Housing Wire

MARCH 2, 2023

We are doing a lot of research and development in it and artificial intelligence,” Slyusarchuk said. “We The lender began servicing some investor loans in 2008, adding non-QM loans in 2015 and expanding to Fannie Mae loan servicing in 2017. It added Freddie Mac loans in 2019 and jumbo loans for JPMorgan Chase the following year.

Mortgage 418

Mortgage Investors Development Investing 418

Housing Wire

AUGUST 21, 2023

469 LoanStar Technologies 1,241% 2016 Enabling lenders to connect and lend to customers who are traditionally underbanked or unbanked. 678 TriusLending 869% 2003 A mid-Atlantic real estate investment firm and financing lender focused on short-term private lending and long-term rental loans. 4,105 FirstCloseFirstclose. Source: Inc.

Real Estate 370

Real Estate Real Estate Agent Technology Investors 370

Housing Wire

SEPTEMBER 12, 2023

This left a void in the mortgage lending market, which was filled by IMBs. IMBs are often more flexible than traditional banks, and they are more likely to lend to borrowers with less-than-perfect credit due to their strategy of having multiple investor outlets. In 2008, IMBs originated less than 20% of conventional mortgages.

Mortgage 418

Mortgage Investors Business Lending 418

Housing Wire

MARCH 15, 2023

It was the biggest bank failure since Washington Mutual collapsed in 2008. That was a favorable development,” Deitch said. Mauro Guzzo, founder and executive chairman at brokerage firm Guzzo & Co, said he has not seen lenders further tightening lending conditions since last week. ”

Mortgage 370

Mortgage Clients Retail Marketing 370

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. Mills particularly worries about the impacts on the MSR market and warehouse lending.

Mortgage 370

Mortgage Marketing Lending Finance 370

Housing Wire

FEBRUARY 10, 2022

Per regulations put into place by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”) and enforced by the Nationwide Mortgage Licensing System and Registry , every loan officer must spend an average of eight hours on an annual basis to recertify their national license.

Loan Officers 397

Loan Officers Law Training Lending 397

Housing Wire

MARCH 23, 2022

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. Census Bureau and the Department of Housing and Urban Development. Could you imagine this housing market if we eased lending standards? percent (±11.9 percent (±13.7

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

NOVEMBER 10, 2022

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. According to one source with knowledge of the jobs cut decision, the positions on the Maryland and Iowa WARN notices included home lending roles and some other businesses.

Mortgage 370

Mortgage Loan Officers Lending Business 370

Appraisal Buzz

APRIL 29, 2024

Then came 2008: I suddenly found myself with a three-year old appraisal firm, a large office building full of furniture and equipment, several employees and trainees, and two young children—as the global economy imploded. Prior to the 2008 dust-up, this strategy had helped us become a dominant player in our market.

Clients 195

Clients Business Appraisal Lending 195

Housing Wire

OCTOBER 4, 2024

Mortgage loan officers, also known as mortgage loan originators or lending officers, generally make salary-based income with commission. Well, as a new or aspiring MLO, your NMLS license is absolutely critical for qualifying to handle lending transactions, and no one will hire you without one. Why is this important?

Real Estate 448

Real Estate Loan Officers Tools Law 448

Housing Wire

AUGUST 25, 2022

The obvious starting place for nonbank lenders looking to capture volume is in jumbo lending, executives and analysts said. The introduction of a personal loan reflects the company’s strategy to develop end-to-end digital solutions to serve customers across various financial products beyond mortgages. ” Tapping that equity.

Mortgage 418

Mortgage Loan Officers Finance Investors 418

Housing Wire

JUNE 27, 2022

“You’re going to start to see the housing market price a lot of people out, which means there’s going to be fewer loans out there to be done, which means you’re going to probably see a lot of people starting to exit,” said Coley Carden, vice president of residential lending at Winchester Co-Operative Bank.

Housing Market 468

Housing Market Marketing Brokerage Real Estate 468

Housing Wire

MAY 6, 2024

During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view. Regulators were suddenly curious about what exactly the industry contributed to a real estate transaction.

Real Estate Agent 437

Real Estate Agent Real Estate Project Management Agents 437

Housing Wire

SEPTEMBER 30, 2020

On the originations side, we’ve built a scalable, multi-channel lending platform that has grown volume by 16X in just the past year. We are seeing strong growth across our forward and reverse lending channels and have increased quarter-to-date volume in August by 16X in the past year. In August, we originated more than $2.5

Mortgage 370

Mortgage Investors Business Human Resources 370

Housing Wire

DECEMBER 16, 2021

How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates? More specifically, that means targeting an unemployment rate close to 4%, inflation close to 2%, and using regulatory tools to prevent unsound lending or other financial imbalances.

Marketing 482

Marketing Mortgage Supply Chain Inventory 482

Housing Wire

JULY 28, 2021

Department of Housing and Urban Development (HUD) when the loan balance reaches 98% of the maximum claim amount (MCA) — has increased, which doesn’t actually remove such loans from the broader penetration equation, he says. So, for both of those reasons, we’re actually seeing penetration go down.”.

Business 305

Business Mortgage Clients Marketing 305

Housing Wire

FEBRUARY 8, 2022

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. Some are especially haunted by the Great Recession between 2008 and 2011. An army of door-knockers.

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Law Mortgage Legal Finance 370