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. Increasing lending and servicing capacity – regardless of mortgage rates.

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Housing Wire

JANUARY 24, 2022

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. The post Stearns Lending to lay off 348 workers appeared first on HousingWire. HousingWire sent a message seeking comment to Guaranteed Rate, which was not returned.

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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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Housing Wire

JULY 11, 2022

In light of that, HW Media CEO Clayton Collins recently sat down with Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions , to talk all things non-QM lending. . While there are logistical learning curves, the main thing Hutchens highlights as a challenge is preconceived – and misinformed – ideas of what non-QM lending is.

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Housing Wire

JULY 2, 2024

The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) this week released updated loan-level data collected through the National Survey of Mortgage Originations (NSMO), according to a joint announcement. The newest release adds data through 2021 into the available dataset.

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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.

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Mortgage Retail Lending Business 420

Housing Wire

JUNE 2, 2021

Volly , a mortgage tech company that offers customer relationship management and point-of-sale services for lenders, announced Wednesday the acquisition of mortgage and real estate tech startup Home Captain for an undisclosed amount. The post Mortgage tech firm Volly scoops up Home Captain appeared first on HousingWire.

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Housing Wire

DECEMBER 14, 2022

promoted Brian Ralston to executive vice president and chief mortgage banking officer. In his new position, Ralston will lead the mortgage banking division’s strategies and oversee origination and servicing operations of the wholesale, non-delegated and delegated correspondent channels, and warehouse lending.

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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%

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Mortgage Government Lending Contracts 370

Appraisal Buzz

JULY 1, 2024

A joint report from the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have published and updated loan-level data for public use collected through mandatory demographic questions on mortgage applications through the National Survey of Mortgage Originations (NSMO).

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Housing Wire

SEPTEMBER 12, 2023

Mortgage credit availability increased slightly in August but remained close to the very low levels last seen in January 2013, according a report from the Mortgage Bankers Association. The trade group’s monthly Mortgage Credit Availability Index picked up by 0.3% in August.

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Housing Wire

FEBRUARY 4, 2021

Like many players in the non-Qualified Mortgage space, Deephaven Mortgage was forced to halt operations in 2020 when liquidity dried up. million security backed by non-QM mortgages that have seasoned for an average of nine months, a presale report from S&P Global Ratings showed. Non-QM lending is poised for growth in 2021.

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Mortgage Marketing Lending Government 417

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.”.

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Mortgage Technology Lending Modernization 370

Housing Wire

AUGUST 8, 2023

Mortgage credit availability dropped to its lowest level since 2013 in July as receding origination volumes led to lower profitability for many lenders. The trade group’s monthly Mortgage Credit Availability Index fell by 0.3% Simultaneously, liquidity concerns persisted for some jumbo lenders. last month.

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Mortgage Government Lending 370

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 445

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.

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Technology Mortgage Lending Business 397

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.

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Retail Lending Loan Officers Brokerage 448

Housing Wire

DECEMBER 10, 2020

The secondary market, often an afterthought for most participants in the mortgage process, took center stage in 2020. 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

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.

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Mortgage Insurance Lending Marketing 476

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.

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Mortgage Inventory Housing Market Construction 505

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

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Lending Loan Officers Advertising Development 418

Appraisal Buzz

NOVEMBER 20, 2024

Mortgage credit availability increased in October according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. The post Mortgage Credit Availability Jumps Again first appeared on The MortgagePoint. percent to 99.2

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Mortgage Government Design Construction 418

Housing Wire

JULY 11, 2023

Mortgage credit availability barely increased in June as the industry continues to operate at reduced capacity. This is a consequence of persistently high mortgage rates resulting in lender consolidation as well as a decline in mortgage applications , the Mortgage Bankers Association said. last month. last month.

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Mortgage Government Lending 284

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.

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Human Resources Lending Retail Mortgage 418

Housing Wire

MAY 10, 2021

In 2013, George Ralph Elliott applied to refinance his Ohio home ahead of a separation from his fourth wife, claiming both his monthly rental income and the spousal support he would soon receive. By early 2017, Elliott defaulted on his mortgage. That same year, he sued his lender for violating the Truth in Lending Act.

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Real Estate Agent Law Realtors Lending 435

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.

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Architecture Real Estate Agent Loan Officers Real Estate 418

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

SEPTEMBER 13, 2024

According to her company bio, Suit became CEO in September 2013. She has been a Realtor since 1985 and also spent 20 years in mortgage lending. Johnson has previously served as its senior vice president of advocacy, chief lobbyist and chief external affairs officer.

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Realtors Real Estate Landlords Tenants 434

Housing Wire

APRIL 20, 2021

In analyzing more than 7 million homes sold between 2013 and the beginning of 2021, Redfin found homes in Black neighborhoods are undervalued by an average of $46,000 compared to homes in primarily white neighborhoods, the company said. “That’s $46,000 that would multiply as the years go on and benefit future generations.”

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Home Value Investing Lending Real Estate 493

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.

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Lending Law Legal Mortgage 397

Housing Wire

FEBRUARY 8, 2024

New York-based real estate investment trust Two Harbors has hired industry veteran Kyle Kilpatrick to lead its newly created mortgage originations division, which is part of the company’s strategy to retain borrowers from its servicing portfolio when interest rates drop. “He Meanwhile, the 30-year fixed mortgage rate was 6.9%

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Business Investing Real Estate Advertising 434

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. Lenders continue to face tightening profit margins as mortgage rates stay substantially higher than they were last year. from September 2021.

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Lending Home Value Mortgage Government 397

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.

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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.

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Technology Lending Mortgage Business 448

Housing Wire

APRIL 27, 2021

The Consumer Financial Protection Bureau formally delayed the mandatory compliance date of the General Qualified Mortgage final rule – better known as the QM rule – from July 1, 2021 to October 1, 2022 on Tuesday. “This act poses serious risk to mortgage finance and brings potential downstream legal risk to the industry. .”

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Finance Legal Realty Mortgage 370

Housing Wire

JULY 14, 2022

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. Kiavi, which rebranded from Lending Home in November, ranked as the top short-term lender in the fix-and-flip space in 2021, with $2.7 Employees will be terminated on Friday, July 15.

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Human Resources Investors Construction Legal 418

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. “We FHFA was comfortable approving VantageScore 4.0 that use trended credit bureau data.

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