Housing Wire

NOVEMBER 21, 2024

After tumbling over the past few months, existing-home sales are giving real estate and mortgage professionals a reason to smile. The seasonally adjusted annual rate of existing-home sales rose 3.4% year-over-year improvement, marking the first annualized increase since July 2021. “The month over month in October to 3.96

Inventory 370

Inventory Home Improvement Realtors Real Estate 370

Housing Wire

JUNE 20, 2024

The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. Among the provisions established by the TCJA was a mortgage interest deduction for primary residences and second homes.

Mortgage 497

Mortgage Bracketing Law Property Taxes 497

Housing Wire

AUGUST 5, 2020

Last week, we published a story about United Wholesale Mortgage (UWM) offering 15-year fixed mortgage rates as low as 1.875% for purchases and refinances. For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. Others just wanted more details.

Mortgage 528

Mortgage Loan Officers Lending Advertising 528

Appraisal Buzz

NOVEMBER 15, 2024

According to a recent poll conducted by TD Bank , America’s Most Convenient Bank, two-thirds (66%) of homeowners still consider their homes to be a source of wealth for future generations, indicating that homeowners continue to perceive their houses as strong financial assets in the present market climate.

Renovations 370

Renovations Lending Investing Home Improvement 370

Housing Wire

FEBRUARY 25, 2025

That 1% growth projection is below the 1.65% rate expected by Wall Street analysts, and comes on the back of a fairly disappointing 2024, in which elevated mortgage rates , inflation and high home prices led to fewer home-improvement projects despite record levels of home equity.

Housing Market 199

Housing Market Home Improvement Marketing Tools 199

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

FEBRUARY 20, 2025

Chase Home Lending recently announced a limited-time, nationwide interest rate discount that is designed to help homeowners save on their monthly mortgage payments.The offer is in effect through March 7. This offer extends to anyone with an existing mortgage at any lending institution looking to benefit from refinancing, she said.

Lending 325

Lending Home Improvement Home Value Design 325

Housing Wire

NOVEMBER 13, 2024

The Home Depot Foundation — the philanthropic arm of the home improvement retail conglomerate — announced that it is investing $10 million for the purpose of enabling older military veterans to age in place in their homes.

Investing 370

Investing Renovations Retail Technology 370

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. Cincinnati-based First Financial Bank has agreed to direct $2.4 The bank will continue to provide quantitative and qualitative reporting on the plan.

Investing 433

Investing Mortgage Lending Loan Officers 433

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

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

NOVEMBER 4, 2024

Mortgage butterflies As confident and comfortable as I was in the home search process and the paperwork involved in signing on with an agent, I was not feeling great about the mortgage preapproval and application process. But in another stroke of luck, I have a cousin who is a loan officer at Guild Mortgage.

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Agents Inspection Real Estate Sellers 435

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

MAY 11, 2023

This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Per Freddie Mac ‘s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.35% as of May 11, down four basis points from last week’s 6.39%. The Consumer Price Index (CPI) rose 4.9%

Mortgage 418

Mortgage Sellers Home Improvement Construction 418

Housing Wire

JANUARY 9, 2025

This finding likely stems from an increase in renovation costs over the past three years, forcing some buyers to pursue costly financing sources to improve their homes. A study by online home improvement platform Houzz highlighted a 60% increase in renovation expenses between 2020 and 2023.

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Buyers Renovations Housing Market Home Improvement 418

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

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

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

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

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

DECEMBER 12, 2024

There also could be a role for reverse mortgages according to one senior AARP leader, but the focus on older people with more limited financial resources is the north star for AARP, she said. Over half (51%) of adults 50-plus say they need a home that supports independent aging. A role for reverse mortgages?

Mortgage 370

Mortgage Construction Home Improvement Government 370

Housing Wire

SEPTEMBER 24, 2024

Roemanu , the holding company for Toorak Capital Partners and Merchants Mortgage , announced on Tuesday that it has hired former Finance of America executive Charles Macintosh as its chief operating officer. Founded in 2016, it connects small-balance residential and commercial mortgage originators with institutional capital.

Investing 433

Investing Home Improvement Finance Business 433

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. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgage 418

Mortgage Loan Officers Finance Investors 418

Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. Staging Costs. Bottom Line.

Sellers 546

Sellers Real Estate Agent Real Estate Decorating 546

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

MAY 10, 2021

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

Renovations 397

Renovations Finance Home Improvement Lending 397

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

Mortgage 370

Mortgage Technology Home Improvement Business 370

Housing Wire

JUNE 9, 2022

A recently published CoreLogic report found homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% CoreLogic said homeowners with mortgages account for roughly 60% of properties in the nation. million homes, according to the report. million homes, according to the report. year-over-year.

Home Improvement 482

Home Improvement Mortgage Housing Market Real Estate 482

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

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%

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Retail Finance Business Home Improvement 459

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

NOVEMBER 23, 2021

As home equity reached another record high this year, mortgage companies have a big opportunity to help homeowners understand how to better manage or leverage their home’s equity to improve their housing and overall financial outlook. Use home equity to raise home value. Invest in the future.

Investing 448

Investing Home Improvement Home Value Mortgage 448

Housing Wire

MAY 22, 2024

When asked about the reason for making these investments, the wife described their desire to maintain the comfort, familiarity and pride in the home they’ve lived in together rather than giving them up. The Home Depot is refreshing an in-house brand with accessibility in mind for things like grab bars and easier-to-use faucets.

Renovations 459

Renovations Design Home Improvement Advertising 459

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. “We Attorney General Merrick Garland said in a statement.

Lending 445

Lending Advertising Loan Officers Home Improvement 445

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

DECEMBER 1, 2022

Most HELOC programs offered by big banks take on average 66 days to get approval, according to the Mortgage Bankers Association. That is money they’ve earned and saved, and we want to make it as easy as possible to access that for home improvements, debt consolidation, or whatever else they may want to use it for.”.

Renovations 468

Renovations Home Improvement Tools Government 468

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 444

Real Estate Business Brokerage Open Houses 444