Housing Wire

DECEMBER 14, 2020

For perspective, I am starting with the condition of the 2020 housing market before the first infections. Before COVID-19, in the first two months of the year, the 2020 housing market appeared on a powerful upswing. But the 2020 U.S. The one downside of the 2020 housing market is the rapid home-price growth.

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Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a release. “By

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Housing Wire

SEPTEMBER 22, 2020

With that in mind, I would like to revisit my 2020 thoughts on the U.S. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. The big question for the rest of 2020 is whether or not we will get total home sales of 6.2 The February housing data, pre-COVID, was juicy indeed.

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Appraisal Buzz

AUGUST 29, 2024

million mortgages secured by residential property (units one to four) were issued in the U.S., Residential Property Mortgage Origination Report. The recovery occurred in the midst of a robust springtime housing market and falling mortgage rates following several months of rising rates. accounting for about half of all mortgages.

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Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. The financing arrangement was also dated June 3, 2020. It originated a mortgage volume of $21.7 trillion in 2023.

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Housing Wire

FEBRUARY 4, 2021

The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. With mortgage rates hovering below 3% for over six months now, Sam Khater, Freddie Mac’s chief economist, said this may be a sign of an economy still struggling.

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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. The post Mortgage lenders are loosening standards on jumbos appeared first on HousingWire.

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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.

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Housing Wire

FEBRUARY 9, 2021

Mortgage credit is still the tightest it has been in more than six years, but steady loosening in January revealed lenders are preparing for a rebounding economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index rose 2% to 124.6 Department of Agriculture fell by.1%,

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Housing Wire

DECEMBER 7, 2021

ECOA prohibits reverse redlining — targeting minority communities for predatory lending — but Congress amended the statute in 1976 to allow for special purpose credit programs. It could be a sustainable lending product for a community where a lender has had poor penetration. A special purpose credit program can take many forms.

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Housing Wire

AUGUST 3, 2021

The blockchain revolution may soon be coming to mortgage lending. According to Inside Mortgage Finance, Homebridge was the 28th-largest mortgage originator in 2020, originating about $26.4 billion in mortgages. The post Figure to merge with mortgage lender Homebridge appeared first on HousingWire.

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Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

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Housing Wire

FEBRUARY 2, 2023

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience.

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Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Housing Wire

MARCH 25, 2022

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. Freedom Mortgage Bank of America Homepoint Guaranteed Rate. The two top lenders, Rocket Mortgage and United Wholesale Mortgage , each maintained their positions.

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Housing Wire

JANUARY 6, 2022

The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%. The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior.

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Housing Wire

MARCH 7, 2022

Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. ” Walmart isn’t the first warehouse-style retailer to offer mortgage products on location. Neither company offered mortgages. The post Welcome to Walmart.

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Housing Wire

DECEMBER 1, 2021

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. As the housing market changes, so does lending fraud.

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Housing Wire

JUNE 18, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed that lender and servicer Freedom Mortgage Corp. million for alleged violations of a 2019 consent order and the Home Mortgage Disclosure Act (HMDA) when it submitted incorrect mortgage data. mortgage lender by volume, according to the CFPB.

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Housing Wire

JULY 15, 2021

Mortgage credit availability dipped 8.5% in June to 118.8 — indicating that lending standards are tightening, per the Mortgage Bankers Association’s Mortgage Credit Availability Index. “Mortgage credit has not recovered since the sharp downturn in the first half of 2020,” Kan said.

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Housing Wire

JUNE 10, 2021

Mortgage credit availability increased by 1.4% in May – a sign that volume-hungry lenders continued to loosen credit standards in a highly competitive market, according to Thursday data from the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index (MCAI) which uses 100 as a benchmark — increased to 129.9

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Housing Wire

JUNE 17, 2022

Wells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter. mortgage lender by volume and largest depository, originated $37.9 Mortgage banking noninterest income in the first quarter totaled $693 billion, down from $1.3 billion year-over-year.

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Housing Wire

FEBRUARY 16, 2021

Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” I can set filters for my partner search on Bumble, so why can’t I filter results for a mortgage broker? 1 Personalization. 2 Digital adoption.

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Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. fair lending laws has been on regulators’ radar in recent years. Its findings showed that mortgage lenders violated U.S.

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Housing Wire

SEPTEMBER 16, 2022

Wells Fargo will pay $94 million to settle a class-action lawsuit that argued it sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. Scharf also argued depository banks are held to higher standards than nonbank mortgage lenders.

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Housing Wire

MARCH 18, 2022

Veteran mortgage executive Bill Dallas has left his position as president of Finance of America Mortgage amid larger changes to the Texas-based nonbank lender’s C-Suite and business lines. His exit was first reported by Inside Mortgage Finance. Dallas did not immediately return requests for comment.

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Housing Wire

JANUARY 7, 2021

In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Ginnie Mae launched the pilot program in 2019, paving the way for the agency to accept eNotes as satisfactory collateral for its mortgage-backed securities. Presented by: SimpleNexus.

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Housing Wire

SEPTEMBER 9, 2024

added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. Be My Neighbor will enable reAlpha to provide integrated mortgage services to consumers who utilize the reAlpha platform to purchase homes, reAlpha said. Publicly traded real estate software firm reAlpha Tech Corp.

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Housing Wire

OCTOBER 15, 2024

Fairway Independent Mortgage Corp. Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. mortgage lenders in the first half of 2024, with $11.8 mortgage lenders in the first half of 2024, with $11.8

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Housing Wire

DECEMBER 11, 2024

Sierra Pacific Mortgage has hired Suzy Lindblom as its new Chief Operating Officer, the company announced in a LinkedIn post. With more than 40 years of experience in the mortgage industry, Lindblom was most recently chief operating officer (COO) at lender and servicer Arc Home , serving in that role from August 2022 to February 2024.

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Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. In addition, a vast majority of people spent more time at home in 2020 than ever before in modern history. In turn, mortgage companies need to get with the times, implement technology and improve efficiency.

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Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020.

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Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah.

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Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. mortgage rate at the end of August. “At You’re probably thinking, “Uh, why on earth would she do that?”

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Housing Wire

SEPTEMBER 3, 2024

With the calendar shifting to September and the next meeting of Federal Reserve policymakers only two weeks out, mortgage rates continue to recede and evidence suggests that borrowers are reacting to more favorable housing market conditions. Lower rates have recently sparked more activity in the mortgage market. year over year.

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Housing Wire

FEBRUARY 24, 2023

Mortgage delinquencies were down across the board in January, with the overall national delinquency rate declining to 3.38%, a drop of 10 basis points from December, according to Black Knight ’s month-end mortgage performance statistics. Inventories that were 90-plus days late on mortgage payments increased largely in Florida.

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Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index rose.6% metros, according to Zillow.

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