Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I Wells Fargo’s correspondent lending business was already in a freefall. The bank’s mortgage servicing rights declined by 5% to $9.3

Lending 526

Lending Business Finance Mortgage 526

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Tammy is stepping in with Kind Lending to handle some of their strategic initiatives and she is partnering with them to help grow their vision.

Lending 431

Lending Loan Officers Retail Legal 431

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. 31, 2021, however, the government entity is now pushing that back to at least Feb. 14, the CDC has reported over 1.7

Lending 540

Lending Appraisal Inspection Property Appraisal 540

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. Emerging out of the pandemic, the first half of 2021 showed that there is a historically low housing inventory across multiple markets in the U.S. Inventory issues. Push for tech.

Mortgage 518

Mortgage Inventory Real Estate Technology 518

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. from a peak reached in 2021 and down 1.6% The recovery occurred in the midst of a robust springtime housing market and falling mortgage rates following several months of rising rates.

Lending 341

Lending Mortgage Buyers Housing Market 341

Housing Wire

AUGUST 30, 2022

Add mortgage lender Mountain West Financial to the list of victims of the price war in the wholesale channel. The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson.

Lending 448

Lending Retail Mortgage Clients 448

Housing Wire

NOVEMBER 15, 2022

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. The mortgage credit availability index (MCAI) fell by 0.5% compared to October 2021. . last month, marking eight consecutive months of decline.

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Lending Government Mortgage Housing Market 501

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. billion valuation in a venture-backed funding round in 2021. JP Morgan Chase & Co. for the IPO.

Lending 459

Lending Valuation Technology Retail 459

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.

Mortgage 542

Mortgage Lending Training Inventory 542

Housing Wire

OCTOBER 10, 2023

“Our Marketplace unites a multitude of industry-leading solutions with the MeridianLink One platform to deliver exceptional consumer experiences and streamline contemporary lending processes,” Megan Pulliam, SVP of MeridianLink Marketplace, said in a statement. In the second quarter of 2023, Blend reported a non-GAAP net loss of $22.7

Lending 435

Lending Technology Design Mortgage 435

Housing Wire

JUNE 22, 2022

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. Cooper , loanDepot , Guaranteed Rate , Fairway Independent Mortgage , Interfirst Mortgage Co.,

Mortgage 514

Mortgage Lending Business Marketing 514

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.

Mortgage 526

Mortgage Marketing Retail Lending 526

Housing Wire

JANUARY 27, 2023

The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.

Lending 418

Lending Real Estate Agent Loan Officers Retail 418

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%,

Mortgage 542

Mortgage Lending Government Contracts 542

Housing Wire

JANUARY 18, 2022

Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said. And unlike conventional mortgages, there are no down payment requirements.

Mortgage 501

Mortgage Clients Real Estate Technology 501

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.

Mortgage 545

Mortgage Supply Chain Lending Marketing 545

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.

Lending 434

Lending Contracts Mortgage 434

Housing Wire

JULY 15, 2022

Wells Fargo ‘s second-quarter earnings reflect the broader challenges mortgage lenders face in such a turbulent market – in just six months, a rapid rise in mortgage rates has eroded consumer demand, shocked capital markets and forced mass industry layoffs. The lone bright spot was higher mortgage servicing income.

Business 459

Business Mortgage Lending Retail 459

Housing Wire

AUGUST 29, 2024

million residential mortgage originations in the second quarter of 2024, an increase of 23.2% The increase in overall lending in Q2 came amid the Spring homebuying season and lower mortgage interest rates that dipped downward after months of increases, according to Attom ’s Q2 residential property mortgage origination report.

Mortgage 433

Mortgage Lending Finance Business 433

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? Is there demand for “mortgages” to buy virtual real estate in the Metaverse? 500 million in Metaverse purchases in 2021 says that, yes, the demand is there. However, to call it a “mortgage” in the traditional sense may be incorrect, for now.

Real Estate 532

Real Estate Mortgage Property Taxes Law 532

Housing Wire

OCTOBER 18, 2024

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. Condos in Florida have to be next level,” said one retail lending executive. Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. Condos are hard.

Marketing 524

Marketing Mortgage Finance Lending 524

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. mortgage lenders, produced $5.2

Mortgage 448

Mortgage Lending Retail Business 448

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.

Mortgage 511

Mortgage Lending Technology Business 511

Housing Wire

SEPTEMBER 16, 2021

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%. Presented by: Deluxe.

Mortgage 497

Mortgage Government Lending Development 497

Housing Wire

JANUARY 10, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million over the course of 12 years.

Investing 442

Investing Tenants Development Loan Officers 442

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.

Mortgage 468

Mortgage Lending Law Loan Officers 468

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank eliminated 72 mortgage jobs in Iowa across earlier layoffs. The bank eliminated 72 mortgage jobs in Iowa across earlier layoffs.

Mortgage 435

Mortgage Lending Business Development 435

Housing Wire

JULY 27, 2023

If implemented, the changes will affect the mortgage industry–and trade groups are already coming out in opposition to the new regulation. ” The changes would boost capital requirements for large banks’ residential mortgage portfolios compared to international standards. said risk sensitivity is a “double-edged sword.”

Lending 370

Lending Mortgage Insurance Modernization 370

Housing Wire

JANUARY 9, 2025

The Mortgage Firm , a Florida-based mortgage lender, has agreed to invest $1.5 A spokesperson at The Mortgage Firm told HousingWire thatthroughout its 29-year history, the company has been committed to providing equal credit access to all communities within its lending footprint.

Investing 397

Investing Mortgage Lending Law 397

Housing Wire

MARCH 4, 2021

The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey. Increasing Lending and Servicing Capacity – Regardless of Mortgage Rates.

Mortgage 545

Mortgage Housing Market Government Lending 545

Housing Wire

FEBRUARY 20, 2024

Fairway Independent Mortgage Corporation announced on Tuesday a series of reverse mortgage maneuvers designed to increase the company’s investment in the space. The division’s leadership team will now also include Dan Ventura, who has served at Fairway since 2007 and last year was appointed as VP of reverse mortgage operations.

Investing 459

Investing Mortgage Lending Business 459

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.

Mortgage 448

Mortgage Loan Officers Lending Human Resources 448

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9

Business 448

Business Mortgage Lending Insurance 448

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. How mortgage lenders are qualifying the value of fintech solutions. Presented by: Total Expert.

Mortgage 448

Mortgage Lending Technology Insurance 448

Housing Wire

JANUARY 21, 2022

in 2021 to 6.2% Freddie anticipates that home purchase mortgage originations will increase in the next two years, spurred by demand coupled with house appreciation. Freddie anticipates that home purchase mortgage originations will increase in the next two years, spurred by demand coupled with house appreciation. million in 2023.

Mortgage 482

Mortgage Housing Market Buyers Government 482

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.

Mortgage 431

Mortgage Appraisal Process Finance Appraisal 431

Housing Wire

JUNE 10, 2024

Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. He previously managed a portfolio of business-purpose loans and nonqualified mortgages with a value of more than $2 billion.

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Lending Business Real Estate Finance 345