Housing Wire

SEPTEMBER 22, 2022

Fannie Mae has finalized its ninth Credit Insurance Risk Transfer (CIRT) transaction of the year, transferring some $700 million of mortgage credit risk to private insurers and reinsurers, the agency announced. The insurance coverage is provided based on actual losses over a 12.5-year The coverage, which became effective Aug.

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Housing Wire

MAY 1, 2023

80% LTVs (no mortgage insurance required) and 80.01-85% 85% LTVs (with mortgage insurance) by credit score. It is clear from Figure 3 that while net loss rates were significantly higher for the 2005-2007 vintages than 2013-2015 originations, the net loss rate curve is flatter for the 2013-2015 cohort.

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Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. .” Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgage 430

Mortgage Loan Officers Real Estate Agent Design 430

Housing Wire

MAY 19, 2022

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. We will continue to be judicious about if, when, and how we consider changes to FHA’s mortgage insurance premiums.”.

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Insurance Mortgage Development 447

Housing Wire

MARCH 27, 2023

Fannie Mae announced on Monday that it has executed two new Credit Insurance Risk Transfer (CIRT) deals: CIRT 2023-2 and CIRT 2023-3. The deals will transfer a combined $926 million of mortgage credit risk to private insurers and reinsurers. These are the second and third CIRT deals of 2023. billion of coverage, which was more than 2.7

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Housing Wire

NOVEMBER 30, 2023

The Conference of State Bank Supervisors ’ (CSBS) board of directors appointed Brandon Milhorn – current deputy to Federal Deposit Insurance Corporation (FDIC) vice chairman Travis Hill – as its incoming president and chief executive officer (CEO). Milhorn will assume the new role on Dec. 4, succeeding James Cooper.

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Insurance Legal Mortgage 381

Housing Wire

FEBRUARY 3, 2022

Freddie Mac’s CRT program was founded with its issuance of the first STACR notes in July 2013. Freddie’s other single-family CRT program, the Agency Credit Insurance Structure (ACIS) program, shares risk with re-insurance companies. It was introduced in November 2013.

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Insurance Investors Government Mortgage 382

Housing Wire

AUGUST 6, 2021

The company, one of the “Big Four” title insurers, agreed to pay a $1.185 million penalty after California state regulators alleged that a marketing representative provided agents illegal perks such as video marketing and drone footage of listings with placement on social media sites, and bus caravans to promote listings.

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Agents Real Estate Agent Insurance Real Estate 459

Housing Wire

FEBRUARY 14, 2022

Court of Appeals for the Eleventh Circuit, Lawrence DeMille-Wagman, CFPB’s attorney, argued that a consent agreement from 2013 did not excuse the mortgage servicer from future violations and that Ocwen is on the hook for alleged wrongdoings. Last March, U.S. The CFPB declined to comment. Ocwen did not return a request for comment.

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Housing Wire

JULY 22, 2022

Fannie Mae has executed two new Credit Insurance Risk Transfer (CIRT) deals — the seventh and eighth of 2022 — dubbed CIRT 2022-7 and CIRT 2022-8. The two transactions convey a combined $1 billion in mortgage credit risk to private insurers and re-insurers as part of the agency’s ongoing effort to share risk with the private sector.

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Insurance Mortgage Design Marketing 362

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.

Mortgage 378

Mortgage Insurance Design Lending 378

Housing Wire

FEBRUARY 9, 2023

Northpointe, a private depository institution insured by the Federal Deposit Insurance Corporation (FDIC), was established in 1999 with a focus on residential mortgage loan origination and servicing. Northpointe became an approved seller and servicer for Freddie Mac in 2013, Fannie Mae in 2014 and Ginnie Mae in 2016.

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Housing Wire

AUGUST 10, 2023

Some may also charge other fees for such things as Errors & Omissions insurance, desk rental, technology, etc. Flat-fee firms climbing up the brokerage rankings Interestingly, in 2013 only five of the top 100 firms in the nation, according to the RealTrends 500 rankings , were flat-fee firms.

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Real Estate Brokerage Realty Advertising 359

Appraisal Buzz

NOVEMBER 15, 2024

He joined the Covius team in March of 2013 as SVP of Operations. Department of Labor’s Unemployment Insurance Weekly Claims Report (Thursday) The post The Week Ahead: Exploring Cost Savings Through Outsourcing first appeared on The MortgagePoint.

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Clients Technology Business Mortgage 367

Housing Wire

AUGUST 25, 2021

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. Numerous industry stakeholders asked HUD to make some changes to the regulation to raise and further explain the threshold for disparate impact claims.

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Housing Wire

MAY 26, 2021

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

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Insurance Investors Design Finance 330

Housing Wire

AUGUST 31, 2022

The offering totals were across the agency’s flagship Structured Agency Credit Risk (STACR) and Agency Credit Insurance Structure (ACIS) programs, along with other risk-sharing transactions. Through the A CIS transactions, a portion of the credit risk on mortgages backed by Fannie and Freddie is shifted to insurers in the private sector.

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Insurance Investors Mortgage Design 370

Housing Wire

MARCH 30, 2021

The Housing Policy Council sent a letter to the Consumer Financial Protection Bureau on Tuesday expressing its opposition to delaying the implementation of the Final QM Rule and expiration of the 2013 QM Rule, set to take effect on July 1, 2021. 1, 2022 and opened up a comment period.

Mortgage 451

Mortgage Insurance Lending Marketing 451

Housing Wire

APRIL 8, 2022

The bureau alleged that Ocwen botched “basic functions like sending accurate monthly statements, properly crediting payments and handling taxes and insurance.”. In 2013, the CFPB accused Ocwen of “engaging in significant and systematic misconduct that occured at every stage of the mortgage servicing process.”

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Law Insurance Mortgage Marketing 395

Housing Wire

MAY 17, 2021

Freddie Mac implemented the CRT structure in 2013 to reduce the taxpayer’s exposure to its mortgage risks, shifting the risk of credit losses on the mortgages they insure onto investors. From 2013 to February 2021, the GSEs shed $126 billion of risk, at a net cost of $15 billion.

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Investors Insurance Mortgage Finance 355

Housing Wire

JUNE 26, 2024

And so, in 2013, 2015, 2017, we saw a lot of changes. The group also discussed the “appropriateness” of a reverse mortgage for a borrower who may have a strong motive to leave the home as a asset to an heir; the HECM program’s nonrecourse feature stemming from FHA insurance; and how interest rates affect a reverse mortgage’s utility.

Mortgage 386

Mortgage Insurance Government Tools 386

Housing Wire

JANUARY 11, 2022

Fannie Mae opened 2022 with its 45 th credit-risk transfer (CRT) deal through its Connecticut Avenue Securities (CAS) real estate mortgage investment conduit, or REMIC, bringing the collective value of notes issued through the conduit to nearly $52 billion since the first offering in 2013. trillion.

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Investors Valuation Government Mortgage 406

Housing Wire

MAY 13, 2024

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 The VantageScore dataset that is scheduled to be made available includes information going back to 2013, which is not far enough, the groups assert.

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Housing Wire

JUNE 7, 2022

billion via five STACR and three Agency Credit Insurance Structure (ACIS) CRT deals. billion via 10 STACR securities offerings and 8 ACIS insurance-coverage CRT deals, da ta from Freddie shows. Freddie Mac, year to date through early June 2022, ha s transferred a total of $10.9 billion in risk from reference pools valued at $300.9

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Investors Insurance Mortgage Marketing 376

Housing Wire

NOVEMBER 11, 2021

Amrock , a title insurance, property valuations and settlement services provider that is part of the Rocket Companies family, announced Wednesday that longtime CEO, Brian Hughes will be retiring later this month and Nicole Beattie, the current vice president of mortgage servicing at sister company Rocket Mortgage , will take over.

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Valuation Technology Appraisal Clients 405

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. ” Porch, founded in 2013, has had challenges on its journey to becoming a public company. .

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Inspection Insurance Finance Valuation 377

Housing Wire

MAY 16, 2024

The third PLF reduction in October 2013 was assessed in more granular detail and concluded that “the first and second reductions may have helped remove so many potentially marginal loans from the population that models could not detect any beneficial effects due to the third reduction and drawdown restriction,” the report said.

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Development Appraisal Property Appraisal Insurance 382

Appraisal Buzz

JULY 5, 2024

Rowe Price as an Equity Research Intern in 2013, and in 2014, joined Wells Fargo Securities as an Asset-Backed Finance Analyst for a few months before transitioning to Fitch Ratings. Orenstein has a diverse work experience that spans several roles and companies. He began his career at T.

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Housing Market Marketing Finance Development 361

Appraisal Buzz

NOVEMBER 15, 2024

Since founding Freedom Mortgage in 1990, Middleman has grown the company into one of the nation’s largest non-bank mortgage lenders/servicers and a top VA and FHA (government-insured) lender. I had been selling annuities, which is an insurance investment vehicle. He is currently a member of the Housing Policy Executive Council.

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Housing Wire

MARCH 21, 2022

With the completion of its third CRT transaction this year, Fannie Mae will have brought 47 CAS deals to market, issued over $53 billion in notes since its initial offering in 2013, and transferred a portion of the credit risk to private investors on some $1.7 million of credit risk to a group of 22 private insurers and reinsurers.

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Investors Insurance Valuation Mortgage 367

Appraisal Buzz

JUNE 27, 2024

Still, Vice Chair, Pulte Financial Services Still is the current Vice Chair of Pulte Financial Services, which includes Pulte Mortgage LLC, PGP Title, and PCIC Insurance and employs more than 800 individuals nationwide.

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Development Finance Tenants Lending 395

Housing Wire

JULY 5, 2024

This, combined with Bryant’s desire to stay out of title insurance, led him to medical device sales and eventually to Gartner , a technology consulting company. But in 2013, Bryant’s father called and asked him to join the family business.

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Agents Business Clients Insurance 425

Housing Wire

APRIL 8, 2022

billion in notes backed by mortgage pools valued in total at nearly $829 billion through 10 STACR offerings and 11 ACIS [Agency Credit Insurance Structure] transactions. Since the first CRT transaction in 2013, Freddie Mac’s single-family CRT program has cumulatively transferred approximately $85.3

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Valuation Investors Mortgage Insurance 380

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). Treasury in 2013. billion — possibly the highest ever recorded and just $15.6

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Insurance Housing Market Mortgage Government 258

Housing Wire

APRIL 22, 2024

Buddy up with a mortgage lender, insurance rep, or real estate attorney and work the room together. A handful of solid connections that could lead to impactful relationships over time is much more valuable than handing your card out to 100 people who will probably just throw it away. Use the buddy system.

Real Estate 406

Real Estate Real Estate Agent Agents Training 406

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). The nonbank share for agency [mortgage] originations has been rising steadily since 2013, standing at 75.1

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Mortgage Marketing Finance Insurance 416

Housing Wire

APRIL 19, 2022

The Office of the Comptroller of the Currency (OCC), the Federal Reserve System , and the Federal Deposit Insurance Corporation (FDIC) oversee and regulate the activities of banks. In its October 2021 letter, the CHLA called on the CFPB to close loopholes in the LO Comp rule , which implemented certain sections of the SAFE Act in 2013.

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