Housing Wire

NOVEMBER 9, 2021

Post-2010, lending standards in America became normal again, and while I still believe they’re very liberal, they’re sane. As you can see below, when you lend to the capacity to own the debt, you should never see a rise in foreclosures or bankruptcies unless a job loss recession happens on a massive scale.

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Housing Wire

NOVEMBER 4, 2020

We are also uniquely qualified to address the influx over assets in REO once the moratorium is lifted, due to our experience during the previous crisis in 2008,” Murray said. The post VRM takes a tailored approach to servicing and lending challenges amid uncertainty appeared first on HousingWire.

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Housing Wire

JUNE 7, 2021

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. The previous economic expansion from 2008 to 2019 was the weakest housing recovery ever. Because that period followed a housing boom and bust when inventory was overbuilt.

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Housing Wire

MAY 3, 2024

Homebuilder constraints Unlike the prelude to the 2008 housing market crash, homebuilders today face unique challenges that mitigate the risk of overbuilding. Stringent lending standards In the aftermath of the 2008 housing crisis, lax lending standards were identified as a major contributor.

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Housing Wire

MARCH 30, 2023

today and why they’re so different than the period of 2002-2008. However, the current housing market is much different than the credit boom-and-bust cycle of 2002-2008, and it’s vital to understand why. However, we aren’t going to see the credit availability collapse in the same way we did in 2008.

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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.

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Housing Wire

MARCH 7, 2024

But major financial institutions have opposed the proposal, decrying its adverse effects on lending activities. Since the aftermath of the 2008 financial crisis, depository lenders have gradually retreated from the residential mortgage sector due to escalating capital costs and diminished profitability.

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Housing Wire

MARCH 31, 2022

We aren’t anywhere close to the housing bubble dynamics we had from 2002 to 2008; that environment is simply impossible to replicate. The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place. This is a good thing, it protects us well in downturns.

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Housing Wire

SEPTEMBER 8, 2022

People’s first reaction was to wonder if this was 2008 all over again. Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. We have a much better housing ecosystem now for sure.

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Housing Wire

JUNE 9, 2021

Bank CRA obligations cover far more than their mortgage lending. IMBs have expanded because of the warehouse lending and short-term credit provided them by the nation’s depositories and because they can sell their loans into the government-guaranteed agency secondary market ( Ginnie Mae , Fannie Mae , Freddie Mac ).

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Housing Wire

FEBRUARY 7, 2024

In his new role, Hardiman will lead its lending and fulfillment operations. Hardiman first joined Embrace Home Loans in 2008 as a project manager, the news release stated. Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday.

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Housing Wire

DECEMBER 10, 2020

But to understand the stability that the secondary market brought during a world-wide pandemic, you first have to look back at 2008. The country was in the middle of the financial crisis, as the consequences of the deceptive mortgage lending practices from all the years prior came crashing down.

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Housing Wire

AUGUST 31, 2020

HousingWire spoke to Doug Perry, Citadel’s new managing director of Wholesale and Retail Sales, about his plans for Citadel and the current state of non-QM lending. HW: What does the demand for non-QM lending look like now following the sector’s pause earlier this year? Underlying demand for non-QM lending products remains strong.

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Housing Wire

OCTOBER 31, 2022

Both these laws paved the way for more responsible lending and a more responsible consumer. Then we saw an uptick in people filing for foreclosures and bankruptcy during an economic expansion from 2005 to 2008. All my six recession red flags were raised toward the end of 2006, and the recession didn’t start until later in 2008.

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Housing Wire

JULY 29, 2024

From tweaks in consumer protection laws to new lending standards and disclosure requirements, the goal is always to foster a clearer and fairer lending process. For example, ongoing updates to the Qualifying Mortgage Rule, which has been rewritten twice and may see another revision soon, have significantly shaped lending practices.

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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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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 2007 to 2008. from 2008 to 2009. in unit sales from the peak of 2005 to the trough of 2008. They fell by 25.3%

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Housing Wire

NOVEMBER 26, 2024

“I am delighted to see the HECM lending limit increase for calendar year 2025,” Irwin said in a statement to HousingWire ‘s Reverse Mortgage Daily (RMD). For several years, the reverse mortgage lending limit remained stagnant before rising in 2017 from $625,500 to $636,150. compared to third-quarter 2023.

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Housing Wire

DECEMBER 7, 2023

Since the 2008 housing crisis , there have been significant changes that prompted the Treasury to place Fannie Mae and Freddie Mac under conservatorship. In fact, this was never the route intended by Congress when it passed HERA in 2008. So how do we get there?

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Housing Wire

JANUARY 17, 2024

Dave Stevens grew up in the mortgage business before serving the industry and its customers both as FHA Commissioner during and immediately after the 2008 financial crisis and then as President & CEO of MBA, where he was instrumental in rebuilding our organization and leading the industry out of the Great Recession.”

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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?

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Housing Wire

NOVEMBER 13, 2024

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. Cornish: Don’t quote me on the exact year, but I think I made $19 million in 2008.

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Housing Wire

DECEMBER 2, 2020

Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure. Digital lending is easier for companies that were born in the cloud. The cloud has helped to accelerate online and virtual processes extending into every step of the lending process.

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Housing Wire

AUGUST 30, 2022

“Rolling a VOA/IE option into the electronic signing experience within Solex provides our clients with a valuable opportunity to compress loan cycle times at a critical milestone in the lending process,” Emily Shapiro, president of Docutech, said in a prepared statement. . trillion in 2022 from the previous year, according to Fannie Mae.

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Housing Wire

JULY 1, 2024

Banks have largely retreated from mortgage lending since the 2008 Housing Crisis — an issue which the SVB borrower short/lend long risks are further exacerbating. CHLA might also point out that banks do not exactly have the best track record in terms of second mortgage lending.

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Housing Wire

NOVEMBER 29, 2022

“Despite decades of government intervention and the growth of high-priced consultancies devoted to fair lending practices, there is clearly much work to be done,” said FairPlay CEO and report co-author Kareem Saleh. . HDMA data on Hispanic applicants only dates back to 2008. in 2021 from 77.7%

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Housing Wire

JULY 22, 2022

He added Crawford’s “depth of executive experience, including lending expertise, will be an excellent addition” to the board. Founded in 2008, Live Oak Bank has a digital, cloud-based bank serving small business owners in all 50 states.

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Eyes on Housing

SEPTEMBER 3, 2021

of new home sales in the second quarter of 2021—the largest share since the beginning of the Great Recession in 2008. NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 76.3% The share of sales backed by conventional loans in Q2 2021 increased 5.1

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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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Housing Wire

APRIL 8, 2022

The years 2020-2024 were always going to be different from 2008-2019. As you can see above, the monthly supply in 2006, 2007, 2008, 2009, 2010, and 2011 was above 6 months on average, running at 8.71 housing market, and we should never ease lending standards to try to facilitate demand. Credit worsened from 2005 to 2008.

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Housing Wire

SEPTEMBER 26, 2023

. “This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. “But that is where the similarities end.

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Housing Wire

OCTOBER 28, 2022

Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi. Wendell Couch joined in 2008 and closed over $1 billion in loan production in 2021. Bhandal’s professional career spans more than 20 years in financial services.

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Housing Wire

JUNE 20, 2023

Smith, whose experience includes leadership roles at companies such as Keller Williams and CitiMortgage , will oversee the strategy and execution of originations, fulfillment, servicing and warehouse lending. Prior to joining Truist, Smith led the mortgage lending, insurance and title businesses affiliated with Keller Williams.

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Housing Wire

DECEMBER 27, 2022

Katie Sweeney: We are looking at national as well as local trends to identify areas where we can help brokers and homebuyers make the most impact within their communities, specifically, the disparity in lending practices for underserved communities and equalizing the regulatory requirements for wholesale mortgage professionals.

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Housing Wire

JULY 27, 2021

Immense structural changes to the Ginnie Mae issuer landscape have occurred since 2008, posing significant potential risk to the agency. That has enormous implications for the risk profile of these firms and for the broader housing finance system as they lend and service not just Ginnie Mae loans but also GSE-eligible mortgages.

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Housing Wire

SEPTEMBER 13, 2024

She has been a Realtor since 1985 and also spent 20 years in mortgage lending. Later, she was elected to the Virginia House of Delegates and served the 81st District from 2000 to 2008. According to her company bio, Suit became CEO in September 2013. In 1996, she received a gubernatorial appointment to the Virginia Real Estate Board.

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Housing Wire

JANUARY 2, 2024

However, two former employees said the company communicated it’s shutting down its mortgage lending business. The FDIC was the receiver of Washington Mutual Bank after it failed during the 2008 financial crisis. It wasn’t immediately clear what restructuring Mosiello was referring to.

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