Housing Wire

NOVEMBER 30, 2020

Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis.

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Housing Wire

SEPTEMBER 15, 2020

Fannie Mae , the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 trillion in refinancings, the highest level since 2003 and more than double the level seen in 2019, the mortgage giant said in a forecast on Tuesday. the mortgage company forecast last month.

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Housing Wire

DECEMBER 30, 2020

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries. bond market. Quite the opposite. Sales of new homes spiked 18.6%

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Housing Wire

NOVEMBER 2, 2020

New rate lock data suggests 2020 will end with over $4 trillion worth of originations, easily a record. The data, from Black Knight’s “Mortgage Monitor” report , shows that rate lock activity in the first half of October was up 4% from September, with purchase locks up 6% and refinance locks up 3%. Roughly 18.5

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Housing Wire

APRIL 13, 2021

A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. In fact, one lender, Rocket Mortgage , issued over 1 million loans in 2020. 15 – Homepoint.

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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. housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market.

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Housing Wire

AUGUST 20, 2021

The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% from the year prior, a Home Mortgage Disclosure Act (HMDA) report published by the Consumer Financial Protection Bureau this week disclosed. But some of the industry’s same problems remained in 2020.

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Appraisal Buzz

NOVEMBER 19, 2024

The Mortgage Bankers Association ’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.47% as of October 31, 2024. Mortgage servicers have provided forbearance to approximately 8.4 million borrowers since March 2020. The share of other loans (e.g.,

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Housing Wire

FEBRUARY 3, 2021

United Wholesale Mortgage originated more than $54 billion in mortgages and generated more than $1.3 At the close of 2020, UWM originated more than $182 billion in mortgages, blowing away the $107.8 billion in mortgages it delivered in 2019. billion in net income during 2020, and $1.37 billion in MSR.

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Housing Wire

MAY 13, 2024

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic housing boom in 2021, according to a new report from Redfin.

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Housing Wire

OCTOBER 22, 2020

This epic headline punctured any bubbles the 2020 bubble boys had left in their arsenal. Still, this seems like a booming housing market, right? million and purchase applications would never hit 300 until the years 2020-2024. Well, here we are in 2020 entering into the best housing demographic patch ever recorded in U.S.

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Housing Wire

FEBRUARY 24, 2022

No mortgage lender in America capitalized on the pandemic-driven refi boom better than Rocket Mortgage. The Detroit-based company, with a ready-built infrastructure and top-notch brand recognition, was uniquely positioned to absorb historic mortgage demand as others struggled to get out of the gates. Rocket has 2.6

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Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

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Housing Wire

JANUARY 6, 2021

2020 has certainly been a year to remember. While we may be ready to firmly plant our feet in 2021, we shouldn’t leave the past 12 months behind without taking a critical look at how the COVID-19 pandemic has impacted the housing market, and how it will pave the way for 2021 and beyond.

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Appraisal Buzz

OCTOBER 11, 2024

Do rising mortgage rates necessarily trigger an economic recession or vice versa? Let’s not mistake correlation for causation,” said researcher and Deputy Chief Economist for First American Financial Corporation Odeta Kushi , who publishes quarterly analyses of housing market data and trends.

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Housing Wire

JANUARY 9, 2023

With a challenging year ahead, the professional services company affiliated with Rocket Mortgage has decided to restructure the marketing team in the first week of 2023, resulting in about 20 jobs cut, according to former employees. . Late last week, the Rocket Central Marketing team announced a reorganization,” he said.

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Appraisal Buzz

OCTOBER 24, 2024

An examination of CoreLogic data indicates that, in comparison to prior years, jumbo mortgage originations saw a discernible drop in both dollar quantities and market share in 2023 and 2024. Mortgage origination volumes surged in 2020 and 2021 as a result of the historically low mortgage rates and the quick growth in housing prices.

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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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Housing Wire

FEBRUARY 13, 2023

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. I am keeping an eye on how much growth we can get with mortgage rates over 6%. Since Nov.

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Housing Wire

JULY 23, 2024

Today’s existing home sales report shows that the existing home market is now almost balanced. We are very close to getting this balance nationally and in some markets we’re already there. million as a balanced market, but this equation has a second variable tied to today’s housing economics: affordability.

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Housing Wire

FEBRUARY 11, 2021

billion in total 2020 revenue in its annual earnings report, released Thursday. Our 2020 performance demonstrated the remarkable resilience of our people amidst the challenges presented by the pandemic,” said First American CEO Dennis Gilmore. ” First American’s total revenue for the fourth quarter of 2020 was $2.2

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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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Housing Wire

OCTOBER 24, 2024

The company’s Auction Market Dispatch for third-quarter 2024 included a survey conducted in late September of more than 140 active buyers on the platform. While 45% said current market conditions were not impacting their desire to purchase distressed property, 34% said conditions were detrimental to their decisions.

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Housing Wire

MAY 6, 2021

of homes sold in the fourth quarter of 2020 that were affordable to households earning the median income of $78,500. “After a surprising gain for housing affordability in 2020 that was driven by historically low interest rates, housing emerged as a bright spot for the overall economy,” said NAHB Chairman Chuck Fowke.

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Housing Market Market Value Marketing Construction 461

Housing Wire

FEBRUARY 10, 2021

Zillow Group reported fourth quarter 2020 earnings of $789 million on Wednesday, easily beating Wall Street’s estimates. For the year 2020, Zillow posted $343 million in EBIDTA. For 2020, Zillow reported 9.6 from the end of December 2020 to March 2021, and by 10.5% billion visits. Cash and investments grew to $3.9

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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. But the 2020 U.S.

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Housing Wire

JANUARY 29, 2021

Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loan officers played every last card in their deck to get those deals closed by New Years. Mortgage Tech Demo Day. million in funded purchase loans in Q4.

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Housing Wire

APRIL 13, 2021

Across the mortgage industry, revenues swelled to record highs in 2020. Nonbank lenders and mortgage subsidiaries of chartered banks reaped the rewards – they nearly tripled their profit per loan last year. There was a downside to the heightened production revenue led by secondary market gains.

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Housing Wire

MAY 17, 2021

Mortgage forbearance exits picked up steam last week as the the total number of loans in forbearance dropped by 14 basis points to 4.22% of servicers’ portfolio share, according to the Mortgage Bankers Association ‘s Forbearance and Call Volume Survey. of all exits for the period from June 1, 2020, through May 9, 2021.

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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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Mortgage Marketing Retail Lending 526

Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. Have higher rates worked? What higher rates should accomplish.

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Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Buyers think it’s a buyer’s market. Sellers think it’s a seller’s market. 25 statewide in 2023 transaction volume.

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Housing Market Marketing Sellers Buyers 397

Housing Wire

OCTOBER 31, 2024

Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. According to filings with the Securities and Exchange Commission (SEC), NerdWallet said the deal allows the company to “provide mortgage shoppers with more hands-on guidance.

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Lending Mortgage Brokerage Loan Officers 427

Housing Wire

SEPTEMBER 12, 2024

Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. median monthly mortgage payment in August had declined by more than $100 since peaking in May. Zillow noted that the U.S. Zillow noted that the U.S.

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Housing Market Marketing Inventory Buyers 478

Housing Wire

AUGUST 10, 2021

For the first time since December 2019, purchase mortgages represented a higher percentage of closed mortgages than refinances. Purchase mortgages rose to 51% of closed mortgages in June, up from 47% in May, according to the latest origination report from ICE Mortgage Technology (formerly Ellie Mae).

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Mortgage Marketing Technology Lending 418

Housing Wire

AUGUST 26, 2024

As the housing market continues to be marked by high mortgage rates and record-breaking home prices across many U.S. The median home sales price in late July was $412,300, a slight decrease from the previous three months, yet still 28% above the second quarter of 2020, according to data by the Federal Reserve Bank of St.

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Marketing Real Estate Agent Investors Tenants 441

Housing Wire

MAY 16, 2022

Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA). At the end of April, 470,000 homeowners were in forbearance plans.

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