Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

Investing 433

Investing Mortgage Lending Loan Officers 433

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.

Mortgage 459

Mortgage Lending Home Improvement Investing 459

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

OCTOBER 28, 2021

Tessar, President and CEO of CIVIC Financial, about the keys to lending in a post-refi world. The average investor is involved in three to four purchase transactions per year, and each transaction will have an acquisition loan and an exit loan through sale, or a refinance to a long-term mortgage.

Lending 359

Lending Real Estate Finance Real Estate Agent 359

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. billion in home improvement projects.

Renovations 446

Renovations Home Improvement Marketing Finance 446

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?”

Mortgage 497

Mortgage Clients Lending Home Improvement 497

Housing Wire

MARCH 3, 2022

Amid a tough environment for forward mortgage lending, Finance of America is betting on specialty finance & services products – reverse mortgages, investor loans, commercial loans – which are expected to deliver most of the return this year. Margins in the mortgage business declined from 3.88% in 2020 to 2.86% in 2021.

Finance 397

Finance Investors Mortgage Home Improvement 397

Housing Wire

APRIL 5, 2023

Rocket Mortgage hung onto its claim as the nation’s largest home lender in 2022 — by the skin of their teeth. According to Home Mortgage Disclosure Act (HMDA) data collated by mortgage data firm iEmergent , Rocket originated $127.58 million, less than a day’s worth of business.

Mortgage 370

Mortgage Home Improvement Brokerage Lending 370

Housing Wire

SEPTEMBER 23, 2020

There’s a mainstay in mortgage finance poised to help in working from home. The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. It allows for actual home improvements to complement contemporary lifestyles.

Renovations 544

Renovations Insurance Home Improvement Design 544

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Loan Officers 480

Loan Officers Lending Advertising Home Improvement 480

Housing Wire

SEPTEMBER 19, 2024

The initial complaint alleged that the bank “engaged in redlining by restricting access to credit and mortgage lending services in majority-Black, Hispanic, and Asian neighborhoods in the New Brunswick, New Jersey area,” adding that the alleged activity persisted from 2018 to 2022. Attorney General Merrick Garland said in a statement.

Lending 444

Lending Advertising Loan Officers Home Improvement 444

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage 476

Mortgage Loan Officers Inventory Business 476

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor.

Renovations 397

Renovations Finance Home Improvement Lending 397

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 448

Mortgage Real Estate Inventory Construction 448

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgage 418

Mortgage Loan Officers Finance Investors 418

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.

Finance 370

Finance Lending Retail Renovations 370

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 459

Retail Finance Business Home Improvement 459

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Business 448

Business Investors Finance Home Improvement 448

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

Mortgage 397

Mortgage Clients Business Training 397

Housing Wire

AUGUST 31, 2020

HousingWire spoke to Doug Perry, Citadel’s new managing director of Wholesale and Retail Sales, about his plans for Citadel and the current state of non-QM lending. Doug Perry: I bring decades of experience to the table, having worked for a number of organizations, including Countrywide Home Loans, Indymac Bank and PennyMac.

Lending 397

Lending Retail Housing Market Home Improvement 397

Housing Wire

SEPTEMBER 16, 2021

The share of firms making a percentage of net revenue from ancillary services, such as relocation services, mortgage lending, title and escrow services, and home improvement services, increased from 39% in 2018 to 42% in 2021. However, with 49% of the firms surveyed being one-office shops, that could be the reason.

Real Estate 441

Real Estate Business Brokerage Open Houses 441

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Retail 418

Retail Finance Home Improvement Mortgage 418

Housing Wire

JUNE 1, 2022

Open Mortgage. Planet Home Lending. VP, Mortgage Verification Services. Senior Director, Mortgage Servicing Policy. Mortgage Insurers. VP, Correspondent Lending. United Wholesale Mortgage. Draper and Kramer Mortgage Corp. Enact Mortgage Insurance. Fairway Independent Mortgage.

Architecture 397

Architecture Realty Insurance Lending 397

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. These funds can be utilized to consolidate debts or finance home improvement projects. The Loan Store, Inc.

Finance 370

Finance Home Improvement Lending Valuation 370

Housing Wire

APRIL 2, 2021

It’s the second large-scale mortgage lender to go public via a SPAC in 2021, after broker-based United Wholesale Mortgage began trading in late January. Like virtually all mortgage lenders, FOA posted record profits and originations in 2020. The lender increased originations by 70% to $32.63 billion in 2020 from $19.16

Finance 377

Finance Renovations Investors Retail 377

Housing Wire

JUNE 13, 2022

The board of directors appointed Graham Fleming, FoA’s president since October 2020, as interim CEO, responsible for the company’s forward, reverse, commercial and home improvement lending segments, as well as lender services. Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates.

Finance 370

Finance Home Improvement Mortgage Lending 370

Appraisal Buzz

AUGUST 15, 2024

The year 2021 brought historic lows to mortgage rates, with the average 30-year, fixed-rate mortgage (FRM) bottoming out in January at an all-time low of 2.65%, before bumping back up to the high single digits just a few years later. Let us say you bought a home in 2021 for $280,000.

Loan Officers 407

Loan Officers Clients Home Improvement Insurance 407

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Housing Market 370

Housing Market Marketing Contracts Lending 370

Housing Wire

AUGUST 2, 2022

The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. ” Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates. The company loan origination volume fell to $5.1

Marketing 396

Marketing Human Resources Finance Business 396

Appraisal Buzz

SEPTEMBER 18, 2024

OceanFirst Bank will pay $15 million to settle allegations brought by HUD and the DOJ that it engaged in redlining practices by restricting access to credit and mortgage lending services in majority-Black, Hispanic, and Asian neighborhoods in the New Brunswick, N.J.,

Lending 195

Lending Home Improvement Investing Mortgage 195

Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

Real Estate 370

Real Estate Real Estate Agent Technology Investors 370

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? That compares to a record $4.4

Inventory 488

Inventory Renovations Real Estate Government 488

Housing Wire

OCTOBER 29, 2021

Until recently, mortgage servicing was more about cash-flow math than consumer experience. Customer Retention: When we think of new loans, this comes in a few forms in the current market: the last of the rate/term refis before rates rise, cash-out refis for both home improvement and debt consolidation, and, of course, new purchase loans.

Clients 397

Clients Modernization Home Improvement Technology 397

Cleveland Appraisal Blog

OCTOBER 29, 2021

Once we know how much the home costs to replace, we can extract a percentage of how much the home improvement has depreciated. Let’s say that in this example, the home that sold for $500,000 has a replacement cost of $425,000. If that is the case, the home’s improvements have depreciated approx.

Appraisal 370

Appraisal Development Finance Lending 370

Appraisal Buzz

APRIL 29, 2024

Of course, the primary source of business for most residential appraisers has traditionally been the lending industry: refinances, HELOCs, and mortgages for the purchase of a home. To that end, the appraisal business is ripe with opportunities to diversify and have revenue streams from multiple sources.

Clients 195

Clients Appraisal Business Lending 195

Appraisal Today

NOVEMBER 8, 2024

GSEs Update Appraisal Market Area Requirements Mortgage applications decreased 10.8 But as technology advances and standards evolve, the mortgage industry requires a more versatile tool. Fairway’s actions discouraged people from applying for mortgage loans in the Birmingham metropolitan area’s Black neighborhoods.

Appraisal 82

Appraisal Contracts Modernization Clients 82

PennyMac

SEPTEMBER 2, 2024

You’ve made it through the mortgage loan application, and now it’s moving toward the closing table. Read on to learn the important role the Loan Processor plays in the mortgage process, what to expect and tips for facilitating a smooth experience. During the mortgage underwriting process, your documents will undergo a final review.

Mortgage 63

Mortgage Insurance Real Estate Agent Appraisal 63