Housing Wire

JULY 18, 2024

The Federal Housing Administration (FHA) this week published a new proposed policy for the Home Equity Conversion Mortgage ( HECM ) program, which would update the way debenture interest rates for HECM loans operate. But the U.S. Department of Housing and Urban Development (HUD) never fully implemented this.

Mortgage 445

Mortgage Design Insurance Lending 445

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.

Mortgage 443

Mortgage Government Law Design 443

Housing Wire

OCTOBER 13, 2021

Chicago-based mortgage originator Interfirst Mortgage Co. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011. The holding company will invest in finance, insurance, and real estate businesses. The originations went from $14.1

Mortgage 428

Mortgage Investors Investing Loan Officers 428

Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

Mortgage 434

Mortgage Lending Modernization Technology 434

Housing Wire

JULY 27, 2021

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

Insurance 459

Insurance Finance Government Mortgage 459

Housing Wire

FEBRUARY 14, 2024

Since the Federal Deposit Insurance Corporation (FDIC) insures only up $250,000, the banks’ wealthier customers panicked and demanded all of their money immediately. Moody’s also downgraded NYCB subsidiary Flagstar Bank , through which the bank originates residential mortgages. ” Days later on Feb.

Mortgage 468

Mortgage Real Estate Insurance Tenants 468

Housing Wire

MARCH 18, 2022

When Curtis Mangus of Premier Mortgage Resources in Meridian, Idaho looked into pivoting into reverse after serving decades in the traditional mortgage business, he asked his managing partner at the lender about its reverse mortgage department. You are the reverse mortgage department,” he said. The partner smiled. “

Real Estate 524

Real Estate Real Estate Agent Mortgage Agents 524

Housing Wire

JUNE 20, 2023

North Carolina-based Truist Financial Corporation announced on Tuesday that seasoned mortgage executive David Smith will be the head of Truist Mortgage effective July 31. mortgage lender and servicer, has shrunk amid a challenging mortgage market. Truist, a top U.S. It originated $2.7 year over year. billion, a 58.3%

Business 370

Business Mortgage Retail Lending 370

Housing Wire

OCTOBER 16, 2024

The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained. The 2008 study, however, did not account for information on the borrower’s race and only examined data in metropolitan areas. “We

Tenants 488

Tenants Investing Housing Market Mortgage 488

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. SVB’s mortgage origination volume reached $2.4

Mortgage 370

Mortgage Loan Officers Insurance Business 370

Housing Wire

JANUARY 13, 2021

have taken advantage of its mortgage relief provisions. Thanks in large part to these programs, the sort of housing market crisis of the 2008-2009 Great Recession has thus far been avoided. How the National Flood Insurance Program’s recent extension provides stability for the housing market. in January 2021.

Mortgage 488

Mortgage Investors Technology Housing Market 488

Housing Wire

APRIL 7, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. In 2008, as the financial crisis was unfolding, he landed a job at secretive big data startup Palantir , where he learned that the $10 trillion mortgage industry was still in the Stone Age technologically. Blend Labs CEO Nima Ghamsari is a betting man. He was right.

Mortgage 397

Mortgage Technology Clients Insurance 397

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 476

Finance Government Mortgage Legal 476

Housing Wire

MAY 5, 2021

Genworth Holdings announced an initial public offering for its mortgage insurance arm, Genworth Mortgage Holdings, after a long-delayed $2.7 Genworth Mortgage Holdings also announced it will rebrand to Enact Holdings. In 2008, Blackstone Group acquired a 46% stake in Bayview, which now has $14.9 billion in 2019.

Insurance 403

Insurance Investing Real Estate Finance 403

Housing Wire

JULY 21, 2023

Lifting a ban on mortgage lenders providing down payment assistance (DPA) to Federal Housing Administration (FHA) borrowers would help underserved borrowers become homeowners, according to a paper published by the Urban Institute. If this change were made, the FHA program would join the other government-insured programs offered by the U.S.

Modernization 370

Modernization Insurance Sellers Real Estate 370

Housing Wire

MARCH 13, 2023

Following the collapse of Silicon Valley Bank last week, the biggest bank failure since Washington Mutual in 2008, two other American banks with significant roles in the housing industry were hit by a deposit run. In the mortgage space, First Republic originated $31.8 In the mortgage space, First Republic originated $31.8

Mortgage 370

Mortgage Marketing Insurance Real Estate 370

Housing Wire

JULY 12, 2024

Former reverse mortgage lender James B. It accused the lender of ”forging certifications and using unqualified underwriters to approve Federal Housing Administration (FHA) insured Home Equity Conversion Mortgages (HECM),” according to the original announcement. Nutter & Co. , Department of Justice (DOJ).

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Government Insurance Development Law 447

Housing Wire

MAY 10, 2022

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). Million — [Tampa, Florida].

Mortgage 418

Mortgage Marketing Finance Insurance 418

Housing Wire

JUNE 9, 2021

He’s right and we disagree with the Community Home Lenders Association ’s assertion that such an affirmative obligation should not also extend to independent mortgage companies. Bank CRA obligations cover far more than their mortgage lending. They stepped into the void created as some large banks retreated from the mortgage market.

Lending 516

Lending Development Government Finance 516

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time. Other indices showed even higher mortgage rates.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right. .

Mortgage 370

Mortgage Retail Clients Contracts 370

Housing Wire

MARCH 27, 2023

The North Carolina-based First Citizens announced on Monday an agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire all of SVB’s deposits and loans that were moved to an FDIC-created bridge bank after the collapse. “We since the 2008 financial crisis. Its mortgage origination volume reached $2.4

Insurance 83

Insurance Loan Officers Mortgage Clients 83

Housing Wire

NOVEMBER 13, 2023

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

Insurance 448

Insurance Real Estate Agents Real Estate Agent 448

Housing Wire

MAY 1, 2023

The Federal Deposit Insurance Corporation (FDIC) and JP Morgan are also entering into a loss-share transaction on single family, residential and commercial loans it purchased from the former First Republic Bank. The FDIC estimated that its insurance fund would have to pay out about $13 billion to cover First Republic’s losses.

Insurance 397

Insurance Finance Government Mortgage 397

Housing Wire

MAY 17, 2021

Despite heightened investor uncertainty during the onset of the pandemic, GSE-backed mortgages have outperformed expectations, the report notes. As the credit risk coverage is depleted, the remaining mortgages in the pool tend to be the most risky. The unpaid principal balance of CRT transactions’ underlying mortgages was $1.7

Investors 455

Investors Insurance Mortgage Finance 455

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 459

Business Mortgage Loan Officers Inventory 459

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.

Legal 430

Legal Insurance Law Mortgage 430

Housing Wire

OCTOBER 4, 2022

Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. billion in title insurance premium volume, only slightly down from the $6.54

Marketing 448

Marketing Insurance Real Estate Housing Market 448

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. It was conducted by analytics firm SP Group LLC and its subcontractor Econometrica Inc.

Insurance 446

Insurance Development Mortgage 446

Housing Wire

FEBRUARY 1, 2021

When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship. Presented by: Motto Mortgage. He has also served on several presidential mortgage fraud task forces and as a member of the Administrative Conference of the United States.

Legal 482

Legal Law Brokerage Finance 482

Housing Wire

OCTOBER 25, 2021

According to a source, the expectation from the mortgage industry is that the governor will sign the bill – if so, it will become law 90 days later. Presented by: Angel Oak Mortgage Solutions. The bill has received strong opposition from much of the mortgage industry, which these days is dominated by nonbanks.

Law 468

Law Lending Insurance Mortgage 468

Housing Wire

MARCH 10, 2023

This report is important to independent mortgage banks (like Atlantic Bay Mortgage ) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers. Another 2008? So, what about the current downturn in mortgage volume for IMBs? Could this be another 2008?

Mortgage 370

Mortgage Business Insurance Lending 370

Housing Wire

DECEMBER 2, 2020

FHA’s mission is to support low-to-moderate income borrowers, so why does the law permit FHA to insure mortgages up to $822,375? Under HERA, the FHA calculates forward mortgage limits by Metropolitan Statistical Area and county. Under HERA, the FHA calculates forward mortgage limits by Metropolitan Statistical Area and county.

Law 534

Law Housing Market Insurance Construction 534

Housing Wire

JUNE 30, 2023

Indian Land, South Carolina-based lender Movement Mortgage has agreed to pay $23.75 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. Attorney Carla Freedman said in a statement.

Government 397

Government Insurance Mortgage Legal 397

Housing Wire

NOVEMBER 26, 2024

The limit for federally backed reverse mortgages is increasing for the ninth consecutive year. That’s up $59,925 from the current limit of $1,149,825 for Home Equity Conversion Mortgages (HECMs), which equates to an increase of roughly 5%. compared to third-quarter 2023. . compared to third-quarter 2023. million for the first time.

Lending 370

Lending Insurance Development Finance 370

Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). The same report revealed FHA had amassed capital reserves in the amount of $78.9

Insurance 359

Insurance Housing Market Mortgage Government 359

Housing Wire

MARCH 15, 2023

One day after Signature Bank collapsed , an affiliate of loanDepot moved $225 million of cash balances to a large money center bank, the mortgage company disclosed Wednesday morning. The Company still maintains fully insured custodial deposit accounts at Signature,” the document says. Both expire in December 2023.

Insurance 370

Insurance Investors Real Estate Mortgage 370