Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The Detroit-headquartered lender reported a GAAP net loss of $233 million in Q4 2023, following a GAAP net gain of $115 million in Q3. billion in in Q3 2023. billion in Q3 2023.

Mortgage 459

Mortgage Clients Lending Business 459

Housing Wire

SEPTEMBER 20, 2024

If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. That’s not sustainable for a healthy mortgage industry. Click here to nominate someone.

Lending 459

Lending Mortgage Technology Tools 459

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 Q2 of 2023. from Q2 of 2023. 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

JANUARY 9, 2025

The Consumer Financial Protection Bureau (CFPB) in December released its 2023 Mortgage Market Activity and Trends report, which included a brief look at activity from the reverse mortgage industry based on Home Mortgage Disclosure Act (HMDA) data from 2023. Mutual of Omaha Mortgage was No.

Mortgage 360

Mortgage Finance Insurance Lending 360

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. Mortgage rates have averaged close to the 7% mark as of Feb.

Lending 514

Lending Mortgage Buyers Government 514

Housing Wire

JULY 12, 2024

The latest 2023 Home Mortgage Disclosure Act (HMDA) data is in, and it confirms a few key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating in the market. a home mortgage loan) and 2.1 This is a 14.6%

Marketing 462

Marketing Lending Mortgage Finance 462

Housing Wire

APRIL 29, 2024

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. He cited a difficult market and elevated rates as reasons for shutting down correspondent and consumer lending businesses , which were added in 2022.

Lending 482

Lending Clients Business Real Estate 482

Housing Wire

OCTOBER 17, 2024

Guild Mortgage announced on Thursday that it has hired Nora Guerra, who worked at Freddie Mac for more than five years, as its senior vice president of community lending solutions. Guerra added that she will have “the opportunity to help shape communities across the nation with stability, liquidity and affordability.”

Lending 435

Lending Government Development Mortgage 435

Housing Wire

SEPTEMBER 30, 2024

The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 has surged by 20-30%, with more than 5,000 lenders originating mortgages in 2023. James Keegan is a Senior Loan Originator at New Silver Lending.

Lending 435

Lending Technology Client Relationships Tools 435

Appraisal Buzz

OCTOBER 1, 2024

Total borrowing and lending for commercial and multifamily mortgages is expected to finish at $539 billion by the end of 2024, according to an updated baseline forecast by the Mortgage Bankers Association (MBA). This gives 2024 a 26% year-over-year increase from 2023’s total of $429 billion.

Lending 369

Lending Real Estate Investors Construction 369

Housing Wire

MARCH 12, 2024

in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5 of overall U.S. About 29.5%

Real Estate Agent 482

Real Estate Agent Real Estate Buyers Realty 482

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. Rocket Mortgage had purchase origination volume of $47.5

Mortgage 488

Mortgage Marketing Retail Lending 488

Housing Wire

OCTOBER 11, 2024

in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% in 2024 and by 12% in 2023.

Mortgage 516

Mortgage Lending Insurance Real Estate 516

Housing Wire

SEPTEMBER 26, 2023

home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” Mortgage holders are well-qualified and subprime loans are rare. increase and 20-City Composite a 0.9%

Inventory 482

Inventory Housing Market Lending Buyers 482

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. Volumes are down The macroeconomic landscape adds more pressure on mortgage volumes, which are already shrinking. billion in Q4 2023 and up from $7.7

Mortgage 468

Mortgage Retail Lending Business 468

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns. billion in Q3 2023 and $25.1

Mortgage 448

Mortgage Inventory Marketing Lending 448

Housing Wire

JULY 12, 2024

Wells Fargo , JPMorgan Chase and Citi opened the second-quarter earnings season in the mortgage space on Friday by showing strong increases in sales volumes from April to June compared to the previous quarter. Among the three depositories, JPMorgan was the leader in mortgage production with $10.7 billion in Q2 2023.

Mortgage 458

Mortgage Lending Retail Business 458

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% billion in the previous quarter and the same quarter of 2023. from the $3.9

Mortgage 448

Mortgage Lending Business Finance 448

Housing Wire

FEBRUARY 12, 2024

The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. Similarly, the average loan amount rose to an average of $345,000 in the fourth quarter. “In

Bracketing 497

Bracketing Mortgage Lending Inventory 497

Housing Wire

SEPTEMBER 17, 2024

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. According to its results, veteran homebuyers who work with a mortgage broker saved an average of $13,600 over the life of their loan compared to working with retail lenders. Click Here

Lending 435

Lending Retail Clients Mortgage 435

Housing Wire

OCTOBER 11, 2023

Name Job Title Company Name Aaron VanTrojen CEO Geneva Financial Home Loans Abbie Tidmore Senior Managing Director and Chief Revenue Officer Pennymac Adam Kessler CEO Academy Mortgage Baron Silverstein President Newrez Ben Madick Co-Founder and CEO Matic Insurance Bernadette Kogler Co-Founder and CEO RiskSpan Bill Rogers Founder and CEO Homeowners (..)

Realty 488

Realty Real Estate Technology Lending 488

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

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage. NEXA did $6.29

Mortgage 468

Mortgage Brokerage Loan Officers Business 468

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. market share, according to Inside Mortgage Finance (IMF) estimates. billion; 5.7%).

Mortgage 468

Mortgage Lending Business Finance 468

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

Mortgage 476

Mortgage Insurance Loan Officers Lending 476

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

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.

Mortgage 475

Mortgage Realty Law Lending 475

Housing Wire

MAY 2, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”

Reconsideration of Value 468

Reconsideration of Value Appraisal Mortgage Valuation 468

Housing Wire

AUGUST 20, 2024

Wells Fargo has agreed to sell most of its commercial mortgage servicing portfolio to Atlanta-based Trimont. The transaction includes only Wells Fargo’s non-agency, third-party commercial mortgage servicing (CMS) business. an 11% share of the country’s commercial real estate lending market. That was good for the No.

Mortgage 448

Mortgage Real Estate Lending Clients 448

Housing Wire

FEBRUARY 21, 2024

Longtime reverse mortgage industry professional Tane Cabe has joined C2 Financial ’s reverse mortgage division as a “retirement mortgage expert,” according to an announcement issued by the company this week. Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp.

Mortgage 435

Mortgage Loan Officers Clients Lending 435

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.

Mortgage 434

Mortgage Loan Officers Lending Renovations 434

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officers 448

Loan Officers Mortgage Retail Lending 448

Housing Wire

DECEMBER 17, 2024

The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. The concept of bolstering consumer protections for these loans was first announced in May 2023. The rule goes into effect on March 1, 2026, according to the CFPB.

Mortgage 396

Mortgage Renovations Property Taxes Finance 396

Housing Wire

APRIL 17, 2024

Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.

Business 448

Business Loan Officers Mortgage Lending 448

Housing Wire

FEBRUARY 2, 2024

The Federal Housing Administration (FHA) on Friday announced that it has published a new final rule that eliminates a current requirement for lenders to register the branch offices where they conduct FHA Title I or Title II mortgage loan originations. The rule, originally proposed in March 2023 , takes into consideration stakeholder comments.

Mortgage 468

Mortgage Finance Insurance Lending 468

Housing Wire

JULY 16, 2024

Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. billion in first mortgages from April to June, up 66.3% billion figure in Q2 2023. from the $3.4

Mortgage 432

Mortgage Market Value Lending Business 432

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , We did transfer our branches and loan officers to ML Mortgage. A spokesperson for ML Mortgage didn’t immediately reply to a request for comment.

Retail 448

Retail Loan Officers Mortgage Lending 448