Housing Wire

JANUARY 25, 2024

Jonathon Haddad, president of Next Door Lending , will replace Katie Sweeney as the chairman and CEO of the Association of Independent Mortgage Experts (AIME). Haddad joined the channel in 2020 at Next Door Lending, where he transitioned from vice president to managing partner and president.

Retail 448

Retail Lending Loan Officers Brokerage 448

Housing Wire

FEBRUARY 14, 2023

Benchmark Administration (IBA) , will take on a new role as president of ICE Mortgage Technology starting on March 1. Bowler will be in charge of ICE’s business segment, which is focused on automating elements of the mortgage industry and delivered a revenue of $1.1 Timothy Bowler, president of Intercontinental Exchange, Inc.

Technology 397

Technology Mortgage Lending Business 397

Housing Wire

FEBRUARY 18, 2021

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey. However, the uptrend in the bond market since the lows of August 2020 is intact.

Mortgage 545

Mortgage Supply Chain Lending Marketing 545

Housing Wire

FEBRUARY 2, 2022

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Additionally, the lender promises borrowers a “personalized approach” and “access to veteran mortgage professionals.”.

Mortgage 370

Mortgage Technology Lending Modernization 370

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

Lending 435

Lending Contracts Investors Technology 435

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. FHFA was comfortable approving VantageScore 4.0

Legal 448

Legal Mortgage Contracts Insurance 448

Housing Wire

MAY 9, 2022

a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals.

Human Resources 418

Human Resources Lending Retail Mortgage 418

Housing Wire

OCTOBER 5, 2023

Sarah Wheeler: The cost to originate a mortgage is higher than ever, while companies have invested more in technology than ever before. I was a mortgage lender and I saw firsthand the shortcomings of the various kinds of software verticals. I worked for a mortgage company from 2007 until 2013 — that’s where I learned the industry.

Technology 448

Technology Lending Mortgage Business 448

Housing Wire

SEPTEMBER 17, 2021

While the Fed’s interest rate policy certainly has an influence on mortgage rates via its effect on the 5-year and 10-year Treasury note rates, there is by no means a one-to-one correlation between the two. Thus, lenders can and should expect continued volatility in mortgage rates through the end of 2021 and into 2022.

Marketing 435

Marketing Mortgage Investing Business 435

Housing Wire

AUGUST 30, 2021

The DOJ alleged that between 2013 to 2017, the bank violated the Fair Housing Act and the Equal Credit Opportunity Act “by avoiding predominantly Black and Hispanic neighborhoods [in the Houston, metro area] because of the race, color and national origin of the people living in those neighborhoods.”. Specifically, Cadence will provide $4.17

Lending 418

Lending Loan Officers Advertising Development 418

Housing Wire

OCTOBER 11, 2022

As mortgage rates rose more than 90 basis points to finish September at 6.72%, overall rate lock volumes predictably fell sharply – down 10% from August and almost 60% off levels from 2021. “Home prices are pulling back in a growing number of markets, but across the country, affordability remains a challenge,” Happ said.

Lending 397

Lending Home Value Mortgage Government 397

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

FEBRUARY 6, 2023

Dybvad, who joined the company in 2013 and is now a vice president, will be responsible for loan origination production in the Ohio, Indiana, Illinois, Michigan, Wisconsin and Kentucky markets. Last month, PrimeLending sued competitor First Community Mortgage, Inc. for allegedly poaching about 100 of its Mid-America employees.

Legal 396

Legal Mortgage Lending Buyers 396

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 476

Mortgage Insurance Lending Marketing 476

Inman

JUNE 14, 2023

Mortgage lenders tightened standards for the third month in a row in May, with mortgage credit availability falling to the lowest level since January 2013.

Mortgage 158

Mortgage Lending Marketing 158

Housing Wire

JULY 14, 2022

Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Kiavi, founded in 2013 and led by CEO Michael Bourque, expanded to three states in June and now operates in 32 states and Washington, D.C. .

Human Resources 418

Human Resources Construction Legal Investors 418

Housing Wire

JUNE 28, 2022

Kiavi , formerly LendingHome , recently closed a $218 million private-label securitization of unrated short-term mortgages — described as “residential transition loans” (RTLs) by the lender, which serves the fix-and-flip market. Nomura Securities International Inc. served as the sole structuring agent of the securitization.

Investors 393

Investors Real Estate Finance Lending 393

Housing Wire

OCTOBER 29, 2021

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. He also had a stint as director at the Center for Responsible Lending. a legal defense nonprofit.

Lending 397

Lending Law Legal Mortgage 397

Housing Wire

JANUARY 12, 2022

Chicago-based Guaranteed Rate will discontinue its third-party wholesale channel, Stearns Wholesale Lending , just one year after it acquired the multichannel lender. increase compared to 2020, according to Inside Mortgage Finance. The volume puts the company as number eight among the top mortgage lenders in the country.

Retail 397

Retail Loan Officers Best Value Business 397

Housing Wire

JANUARY 5, 2021

SimpleNexus , a digital mortgage startup, announced on Tuesday that it picked up $108 million in a Series B funding around. The fund raise comes as the company attempts to increase its marketshare within the eClosing and mobile mortgage segments.

Architecture 418

Architecture Real Estate Agent Loan Officers Real Estate 418

Housing Wire

MARCH 1, 2022

Fannie said in a press release on Monday that the creation of this role cements its commitment to enabling opportunities for minority and women-owned firms in capital markets and fostering an inclusive workplace. As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase.

Human Resources 418

Human Resources Government Finance Mortgage 418

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.

Insurance 394

Insurance Investors Design Finance 394

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. market due to lower rates and supply constraints.

Finance 284

Finance Mortgage Design Government 284

Housing Wire

APRIL 25, 2022

This authority gives us critical agility to move as quickly as the market, allowing us to conduct examinations of financial companies posing risks to consumers and stop harm before it spreads.”. While the CFPB did implement the provision through a procedural rule in 2013, the agency has now begun to invoke this authority.

Modernization 305

Modernization Law Lending Mortgage 305

Housing Wire

JANUARY 25, 2023

Market speculation that Wells Fargo is contemplating a huge bulk sale of mortgage servicing rights (MSRs) may well be a case of a rumor that is all hat and no cattle. Or it could signal a future MSR-market stampede. To date, no Wells Fargo bulk MSR public offering has surfaced, market observers say. of the entire $8.4

Buyers 397

Buyers Investing Mortgage Marketing 397

Housing Wire

APRIL 18, 2023

In a cyclical mortgage industry, hedging is key to maintaining a buffer against losses. Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house.

Retail 370

Retail Business Agents Loan Officers 370

Housing Wire

DECEMBER 14, 2020

The evidence for this can be seen here in a series of charts published with the article: Considering all the wild machinations in the market that we lived through from the date of the first infections to the present, I thought it would be useful to recap some of the year’s significant economic milestones. BC Era: Before Coronavirus.

Housing Market 545

Housing Market Government Marketing Mortgage 545

Housing Wire

OCTOBER 2, 2020

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. ” AmeriHome, founded in 2013, operates correspondent and consumer direct channels , and also sports a related servicing division.

Valuation 361

Valuation Mortgage Business Modernization 361

Housing Wire

JUNE 13, 2023

Mortgage credit availability dropped in May, a consequence of a tougher mortgage landscape that has resulted in lender consolidation as well as high rates and limited inventory that has stretched consumer budgets. The monthly Mortgage Credit Availability Index fell by 3.1% and the Conforming MCAI dropped by 3.9%.

Mortgage 370

Mortgage Government Lending Contracts 370

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

SEPTEMBER 10, 2020

She’s also a known quantity in the mortgage space. In 2013, Fraser was tapped to head CitiMortgage in St. The day I started at CitiMortgage was the day the market started responding to the Fed, and inevitably was the end of the refi boom,” Fraser, who became CEO in May 2013, said in an interview with the Post-Dispatch. “The

Mortgage 394

Mortgage Retail Lending Business 394

Housing Wire

NOVEMBER 28, 2023

The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday. The CFPB claims that the bank identified the practice as early as 2013 but “turned a blind eye for years.”

Law 476

Law Mortgage Loan Officers Lending 476

Appraisal Today

DECEMBER 8, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? Investor purchases of U.S.

Appraisal 69

Appraisal Real Estate Contracts Design 69

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

Inspection 136

Inspection Insurance Buyers Renovations 136

Housing Wire

SEPTEMBER 28, 2023

Even though mortgage origination volumes are down, we’re experiencing a highly competitive purchase market. From 2007 through mid-2013, approximately 5.5 The mortgage lending industry exists to make home loans, not to repossess them. What’s really changed since 2013? Nor should it be.

Legal 448

Legal Real Estate Training Business 448

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

Real Estate 370

Real Estate Real Estate Agent Technology Investors 370

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association.

Lending 397

Lending Mortgage Real Estate Loan Officers 397