Housing Wire

JULY 29, 2024

The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. Adapting to changes Success in the mortgage industry hinges on your ability to adapt.

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Mortgage Law Lending Training 453

Housing Wire

DECEMBER 11, 2020

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. The smart contract presents the borrower’s lending request to the exchange. A bigger vision. “We’re

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Lending Contracts Investors Technology 435

Housing Wire

NOVEMBER 15, 2024

This is the kind of information you need as we get close to Thanksgiving and share the dinner table with Uncle Dave who says (for the 13th year) that we’re seeing 2008 all over again. Foreclosure data The chart below shows that the 2008 housing crisis started years before the 2008 recession.

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New Listings Sellers Mortgage Law 521

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. That is where the Freddie Mac second mortgage comes in.

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Mortgage Lending Finance Marketing 448

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.

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Mortgage Housing Market Lending Finance 493

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.

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Mortgage Lending Modernization Technology 433

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 started his career in mortgage banking at Wells Fargo in Iowa in 2003.

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Mortgage Loan Officers Lending Business 370

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. today and why they’re so different than the period of 2002-2008. There is usually a 1.60%- 1.80% difference between the 10-year yield and 30-year mortgage rate, but now we are at 3%.

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Housing Market Mortgage Law Marketing 539

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. compared to the same period last year, according to Inside Mortgage Finance (IMF). The announcement was made Wednesday.

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Mortgage Loan Officers Retail Finance 370

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance. The higher-rate landscape is affecting all mortgage companies.

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Supply Chain Mortgage Retail Loan Officers 476

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. Truist, a top U.S. according to the IMF data.

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Business Mortgage Retail Lending 370

Appraisal Buzz

SEPTEMBER 25, 2024

In fact, the last time the FOMC cut rates by half a point was during the 2008 global financial crisis. CoreLogic recently posted that an estimated 4 million loans are candidates for refinancing if mortgage rates float below 6.75%. “An BLOG VIEW: The Federal Open Market Committee (FOMC) on Sept. An estimated $1.45

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Mortgage Loan Officers Technology Contracts 393

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 post Interfirst Mortgage raises $175 million appeared first on HousingWire. The originations went from $14.1

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Housing Wire

MARCH 7, 2024

But major financial institutions have opposed the proposal, decrying its adverse effects on lending activities. The proposed reforms have sparked particular concerns within the housing sector, notably regarding the impact on the jumbo mortgage market and regional banks. banks to earmark billions more in capital reserves.

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Lending Mortgage Finance Marketing 448

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. Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture.

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Mortgage Design Insurance Lending 443

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.

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Inventory Lending Inspection Real Estate 451

Housing Wire

NOVEMBER 4, 2020

The complexities of serving borrowers under the CARES Act require lenders, servicers and investors to partner with a mortgage services provider who has the expertise and national network to provide high-touch support to its clients. Our clients have a moratorium on evictions, so we are not actively pursuing these opportunities.

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Lending Clients Investors Training 393

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. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

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Mortgage Construction Lending Real Estate 397

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.

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Lending Development Government Finance 516

Housing Wire

FEBRUARY 14, 2024

The demise of those banks, which had relied in part on friendly terms on jumbo mortgage loans to entice wealthier clients, had lasting effects on the mortgage landscape – as part I and part II of our jumbo series show. 7, the bank was reportedly offering to sell Flagstar’s residential mortgage assets.

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Mortgage Real Estate Insurance Tenants 468

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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Inventory Law Housing Market Design 544

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” In their study, these researchers examined the 2008 financial crisis and its impact on nonbank liquidity.

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Sellers Mortgage Business Lending 448

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. HW: How has wholesale changed over the past 2–3 years?

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Mortgage Retail Lending Loan Officers 370

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. Over the years, I have tried to express that we won’t have a repeat of 2002-2005 when it comes to a speculative mortgage debt expansion on unsound credit. Home prices have grown 108.3%

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Housing Market Inventory Lending Marketing 532

Housing Wire

DECEMBER 10, 2020

The secondary market, often an afterthought for most participants in the mortgage process, took center stage in 2020. But to understand the stability that the secondary market brought during a world-wide pandemic, you first have to look back at 2008. Think of it as the underdog quickly becoming the hero of the story.

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Marketing Lending Design Government 459

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. Athas Capital has been credited for “pioneering the re-birth of ‘sane’ subprime lending,” according to the company website. and Sprout Mortgage.

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Lending Investors Business Legal 459

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

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Retail Mortgage Loan Officers Marketing 370

Housing Wire

JANUARY 17, 2024

David Stevens, a legend of the mortgage banking industry who helmed the Federal Housing Agency and the Mortgage Bankers Association in a career that spanned four decades, has died. He left government service and became president of the Mortgage Bankers Association.

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Finance Loan Officers Real Estate Development 493

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. This makes it harder to pursue innovations and to create sound industry standards in the broader mortgage market — one of the GSEs’ key statutory mission objectives.

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Tools Development Mortgage Law 545

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 Market Marketing Inventory Construction 545

Appraisal Buzz

OCTOBER 4, 2024

The Federal Housing Finance Agency (FHFA) updated the National Mortgage Database (NMDB) Aggregate Statistics series to include fresh quarterly data on the loan performance of residential mortgages until Q2 of 2024. of all mortgages that were outstanding were either in the foreclosure, bankruptcy, or deed-in-lieu stages.

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Mortgage Tools Lending Finance 360

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. Mortgage loan volume in the second quarter of 2023 was down 56% from the same period last year, according to ATTOM.

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Mortgage Investors Business Lending 418

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

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Law Inventory Lending Mortgage 523

Housing Wire

JULY 14, 2023

Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis.

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Law Mortgage Construction Lending 368

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. The limit handed down by the U.S. million for the first time.

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Lending Insurance Development Finance 370

Housing Wire

APRIL 13, 2022

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. Bank Home Mortgage. But it’s a challenge.

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Mortgage Technology Development Investing 435

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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