Housing Wire

MAY 22, 2024

Mortgage fraud risk saw a modest uptick toward the end of 2023, according to CoreLogic ’s latest Mortgage Application Fraud Risk Index , although it remained largely stable on a year-over-year basis. The index reached 127 in Q4 2023, marking a 2.7%

Mortgage 474

Mortgage Government Marketing 474

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 461

Business Mortgage Loan Officers Inventory 461

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Mortgage 532

Mortgage Inventory Retail Construction 532

Housing Wire

NOVEMBER 23, 2024

It has been almost two months since mortgage rates spiked again, and my initial thought was this would tank housing demand. We had a positive 18-week period with purchase applications before mortgage rates started rising in September. Initially, the data showed more robust performance as mortgage rates approached 6%.

Mortgage 514

Mortgage Inventory New Listings Contracts 514

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). The data shows that the bank produced $25.3

Mortgage 476

Mortgage Lending Retail Business 476

Housing Wire

MARCH 4, 2024

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. Mutual of Omaha Mortgage firmly took hold of the No.

Retail 454

Retail Mortgage Business Marketing 454

Housing Wire

NOVEMBER 30, 2024

Despite initial concerns that tariffs would push mortgage rates up to 8% and reduce housing demand, this week has brought some encouraging news. The 10-year yield has remained stable at a crucial technical level and even reversed direction, resulting in improved mortgage rates. This is what happened in the last two years.

Mortgage 505

Mortgage Inventory New Listings Contracts 505

Housing Wire

JANUARY 26, 2024

There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. the parent company of Liberty Reverse Mortgage/PHH.

Mortgage 468

Mortgage Finance Investing Business 468

Housing Wire

JANUARY 29, 2024

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. Rank Company in 2023 Market share Company in 2022 Rank Change 1 FAR 36.9% FAR Longbridge +1 3 PHH Mortgage 16.3%

Mortgage 480

Mortgage Finance Home Value Design 480

Housing Wire

JANUARY 2, 2024

2023 is in the rearview mirror — a year of tumult, reduced volume and a wave of industry exits and consolidations. While most have their eyes on the horizon, HousingWire’s dedicated reverse-centric publication, Reverse Mortgage Daily (RMD), will look back one more time at a year of challenge.

Mortgage 449

Mortgage Government Business Lending 449

Housing Wire

OCTOBER 27, 2022

Does this mean the Federal Reserve needs to hike rates even more to get the recession they’re looking for, or is there a case for mortgage rates to go below 6% over the next six months? Traditionally, when economic data gets better, the 10-year yield sells off and yields go up with mortgage rates. However, the U.S.

Mortgage 543

Mortgage Housing Market Marketing Construction 543

Housing Wire

OCTOBER 13, 2023

At two top-five depository mortgage lenders, Wells Fargo and JPMorgan Chase , the third quarter of 2023 earnings reflected different strategies in the mortgage space. At Wells Fargo, mortgage originations reached $6.4 At Wells Fargo, mortgage originations reached $6.4 compared to Q2 2023 but declined by 14.8%

Mortgage 436

Mortgage Lending Business Retail 436

Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. Weekly inventory change (Dec.

Inventory 521

Inventory New Listings Housing Market Mortgage 521

Housing Wire

JANUARY 12, 2023

Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way. “The mortgage market began 2023 on a positive note, with a decline in mortgage rates leading to an uptick in refinance applications.

Mortgage 505

Mortgage Marketing Investors Clients 505

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgage 435

Mortgage Marketing Investors Lending 435

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%.

Mortgage 398

Mortgage Construction Inventory Investors 398

Appraisal Buzz

JUNE 17, 2024

According to Freddie Mac’s 2023 Green MBS Impact Report , the company issued $1.85 billion of Single-Family Green Mortgage-Backed Securities (MBS) for the 2023 calendar year. Freddie Mac’s 2023 Green MBS issuance increased by more than 35% over 2022, even as overall MBS market volume declined.

Mortgage 195

Mortgage Construction Design Finance 195

Appraisal Buzz

SEPTEMBER 12, 2024

Mortgage rates dropped to the lowest level since February 2023 this week, as the average rate for a 30-year fixed-rate mortgage fell to 6.20%, down from an average of 6.35% last week and down from 7.18% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. The Fed is expected to cut rates by either 0.25

Mortgage 195

Mortgage Buyers Appraisal Marketing 195

Housing Wire

DECEMBER 22, 2022

Mortgage industry executives, analysts and economists have started to place their bets on where mortgage rates will settle in 2023 amid the Federal Reserve’s tightening monetary policy and the fears of an economic recession. Mortgage rates averaged 3.05% one year ago.) at the end of 2023.

Mortgage 469

Mortgage Tools Finance Housing Market 469

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

Mortgage 436

Mortgage Housing Market Retail Contracts 436

Housing Wire

APRIL 25, 2024

Independent mortgage banks ( IMBs ) and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2022, according to data released Thursday by the Mortgage Bankers Association (MBA). On average, production volume was $1.9

Valuation 449

Valuation Mortgage Inventory Marketing 449

Housing Wire

DECEMBER 23, 2023

Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. We never saw the Airbnb crash that dominated some of the housing headlines in 2023. Weekly inventory change : (Dec.15-22)

Housing Market 538

Housing Market Marketing Inventory New Listings 538

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. from $490 billion in the second quarter. year over year as of the third quarter of last year.

Lending 488

Lending Inventory Mortgage Finance 488

Housing Wire

MARCH 7, 2024

homeowners with mortgages saw their home equity increase by 8.6% year over year in fourth-quarter 2023. billion at the end of 2023. billion at the end of 2023. Texas was the only state that posted an annualized equity loss (-$6,000) in Q4 2023. of all mortgaged properties. of all mortgaged properties.

Mortgage 501

Mortgage Real Estate 501

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Zap Mortgage (no.294) Zap Mortgage (no.294) The companies are U.S.-based,

Loan Officers 370

Loan Officers Mortgage Development Lending 370

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 450

Mortgage Inventory Marketing Lending 450

Housing Wire

DECEMBER 13, 2023

It was the fourth pause recorded in 2023. In 2023, the Fed hiked the benchmark federal funds rate by a quarter-point at four meetings, most recently in July. Rate relief in 2024 At the beginning of November, Freddie Mac ’s Primary Mortgage Market Survey index hovered just below 8%. million in Q2 2023.

Mortgage 526

Mortgage Investors Sellers Marketing 526

Housing Wire

NOVEMBER 14, 2024

CrossCountry Mortgage , a top-10 U.S. mortgage lender, has hired a team of former Pennymac Financial Services executives to lead its capital markets and investment-related activities. Fartaj stepped down as Pennymac’s senior managing director and chief investment officer in March 2023 , after 15 years at the company.

Mortgage 369

Mortgage Loan Officers Investing Finance 369

Housing Wire

SEPTEMBER 7, 2024

Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even lower? Mortgage spreads Another way for mortgage rates to drop to the lowest level of the forecast or below is to improve mortgage spreads.

Mortgage 533

Mortgage Inventory New Listings Marketing 533

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

Mortgage 514

Mortgage New Listings Inventory Contracts 514

Housing Wire

MARCH 1, 2023

For more than a decade, HousingWire’s Tech100 program has identified and recognized the most innovative technology companies serving the mortgage and real estate industries. The 2023 Tech100 Mortgage winners are continuing to bring innovation to the mortgage process – from origination to closing, and servicing to secondary markets.

Mortgage 398

Mortgage Valuation Technology Appraisal 398

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . last week, are expected to drift down and end 2023 around 5.2%,” he said. .

Mortgage 450

Mortgage Housing Market Sellers Buyers 450

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

Housing Market 450

Housing Market Mortgage Marketing Inventory 450

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 457

Marketing Lending Mortgage Finance 457

Housing Wire

OCTOBER 5, 2024

18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an almost 2% move lower since the highs of 2023 without rate cuts, as the bond market always gets ahead of the Fed. This explains the rise in mortgage rates since the Fed cut rates.

Mortgage 511

Mortgage Inventory New Listings Retail 511

Housing Wire

SEPTEMBER 1, 2024

The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. However, as mortgage rates have fallen recently , I haven’t been able to hit my targets, which isn’t a surprise.

Inventory 538

Inventory Mortgage New Listings Housing Market 538

Housing Wire

SEPTEMBER 28, 2024

Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. It will likely take mortgage rates to go under 6% and stay there for an extended period to get real sustained demand growth from record-low sales levels.

Mortgage 525

Mortgage Inventory New Listings Contracts 525