Housing Wire

JANUARY 10, 2025

Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.

Insurance 397

Insurance Mortgage Clients Finance 397

Housing Wire

DECEMBER 5, 2024

Rocket Mortgage , the third-largest U.S. mortgage lender, is suing the U.S. Under the Dodd-Frank Act and Truth in Lending Act (TILA), lenders must use independent, state-licensed appraisers to avoid conflicts of interest. She later filed a complaint with HUD , which referred the case to the DOJ.

Appraisal 397

Appraisal Lending Clients Valuation 397

Housing Wire

MARCH 7, 2025

Rocket Mortgage is shutting down its Canadian operations as the company refocuses on its core U.S. We want to assure our clients that all loans in process will proceed without issue, and we remain committed to supporting them through this transition, Rocket Mortgage said in a statement. The decision, filed in U.S.

Mortgage 221

Mortgage Real Estate Agent Insurance Clients 221

Housing Wire

DECEMBER 11, 2020

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. The smart contract presents the borrower’s lending request to the exchange. A bigger vision. “We’re

Lending 435

Lending Contracts Investors Technology 435

Housing Wire

OCTOBER 15, 2024

The Mortgage Industry Standards Maintenance Organization (MISMO) is targeting January 2025 as the release window for reverse mortgage standards from its work group that is analyzing and developing the standards, according to a statement released Tuesday by Mortgage Cadence.

Mortgage 435

Mortgage Lending Development Design 435

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Representatives at Comerica referred to the presentation when asked about the bank’s decision and its implications.

Lending 370

Lending Finance Investors Insurance 370

Housing Wire

JULY 24, 2024

Reverse mortgage industry veteran George Morales has been appointed as the new chairperson of the dedicated reverse mortgage development workgroup (DWG) inside the Mortgage Industry Standards Maintenance Organization.

Mortgage 459

Mortgage Development Lending 459

Housing Wire

MARCH 29, 2024

While much of the report suggests “a continued increase in credit or consumer reporting complaints, with more than one million of these complaints being sent to the three nationwide consumer reporting companies,” the mortgage industry demonstrates general reactivity to the feedback, according to the report. were pending with the bureau.

Mortgage 457

Mortgage Lending Finance 457

Housing Wire

OCTOBER 9, 2024

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% of new applications.

Mortgage 458

Mortgage Government Retail Contracts 458

Housing Wire

JULY 2, 2024

A new report by IDIQ® , a financial intelligence company, details top consumer credit concerns provided by mortgage , real estate, and lending professionals as well as borrowers themselves. The report also introduces a solution with IDIQ’s newly launched credit-building tool, CreditBuilderIQ®, based on the feedback provided.

Tools 446

Tools Mortgage Modernization Real Estate 446

Housing Wire

SEPTEMBER 4, 2024

The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-18 , which implements updates to debenture interest rates and reimbursements for Home Equity Conversion Mortgage ( HECM ) program claims proposed in July. The ML goes into effect on Sept. 19, 2017, which went into effect later that year. “HUD

Mortgage 459

Mortgage Legal Development Insurance 459

Housing Wire

SEPTEMBER 11, 2024

CMG Home Loans , the retail lending division of CMG Financial , recently made a key hire in its reverse mortgage division by adding industry veteran Kari Van Kleef as its operations manager. Once they complete that certification, we also partner them with what we call a ‘reverse mortgage guru.’

Mortgage 448

Mortgage Loan Officers Lending Business 448

Housing Wire

FEBRUARY 24, 2023

Mortgage delinquencies were down across the board in January, with the overall national delinquency rate declining to 3.38%, a drop of 10 basis points from December, according to Black Knight ’s month-end mortgage performance statistics. Inventories that were 90-plus days late on mortgage payments increased largely in Florida.

Mortgage 418

Mortgage Inventory Lending Marketing 418

Housing Wire

JULY 18, 2024

The Federal Housing Administration (FHA) this week published a new proposed policy for the Home Equity Conversion Mortgage ( HECM ) program, which would update the way debenture interest rates for HECM loans operate. Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture.

Mortgage 445

Mortgage Design Insurance Lending 445

Housing Wire

MARCH 27, 2024

New York-based multichannel lender US Mortgage Corporation is expanding its efforts in the reverse mortgage space, illustrating its focus on growth. The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending.

Business 459

Business Mortgage Loan Officers Training 459

Housing Wire

JANUARY 2, 2024

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. While that story was certainly an attention-grabber, the bigger industry surprise was the exit of Open Mortgage.

Mortgage 448

Mortgage Government Business Lending 448

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” In their study, these researchers examined the 2008 financial crisis and its impact on nonbank liquidity.

Sellers 448

Sellers Mortgage Business Lending 448

Housing Wire

JULY 27, 2022

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 The complaint alleged Trident Mortgage Co. ,

Loan Officers 418

Loan Officers Mortgage Law Contracts 418

Housing Wire

SEPTEMBER 9, 2020

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.

Mortgage 465

Mortgage Lending Investors Legal 465

Housing Wire

OCTOBER 30, 2023

In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage. Several lenders have rolled out down payment assistance programs recently, including Rocket Mortgage , United Wholesale Mortgage , Guild Mortgage and Guaranteed Rate.

Lending 493

Lending Retail Finance Insurance 493

Housing Wire

OCTOBER 21, 2024

In a high(er) rate environment, non-QM (non-qualified mortgage) lending continues to play an increasingly pivotal role. To explore how Acra Lending has adapted to these shifts, we sat down with Ryan Barrus, a key player in the company’s non-QM division. HW: Acra Lending recently launched its Glide portal. RB: Absolutely.

Lending 435

Lending Loan Officers Tools Mortgage 435

Housing Wire

JULY 11, 2022

Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS). He then spent 18 years at TCS, where he focused on solution architecture, operational delivery and entity transformation for most of the top-40 mortgage lenders and the largest vendors.

Mortgage 370

Mortgage Architecture Technology Clients 370

Housing Wire

MARCH 11, 2022

Lenders One Cooperative and Walmart want mortgages in your shopping cart. On Monday, the cooperative announced that it has struck a deal to lease space in Walmart stores to sell purchase mortgages, refinances, and home equity loans. Rocket Mortgage, the largest mortgage lender in America, originated about $320 billion in 2020.

Mortgage 370

Mortgage Retail Lending Law 370

Housing Wire

OCTOBER 23, 2024

Mortgage data and workflow solutions provider FirstClose is launching a new feature for its automated home equity point-of-sale system. The new feature will help customers to quickly consolidate high-interest mortgage debt.

Loan Officers 435

Loan Officers Lending Design Technology 435

Housing Wire

AUGUST 30, 2021

million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods. Specifically, Cadence will provide $4.17

Lending 418

Lending Loan Officers Advertising Development 418

Housing Wire

JULY 25, 2022

The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months. million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a 5% increase from May. A total of 1.51 A total of 1.51

Mortgage 370

Mortgage Training Lending Inventory 370

Housing Wire

AUGUST 5, 2024

trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 year-over-year increase, according to new data from ICE Mortgage Technology. The ICE Mortgage Monitor report for August showed that 32 million mortgage borrowers in the U.S. million mortgage holders have access to $1 million or more.

Home Value 459

Home Value Mortgage Technology Lending 459

Housing Wire

AUGUST 18, 2023

The waivers come as thousands of government-backed mortgages on the island have been impacted by the disaster, according to data released by the office of Hawaii Gov. Additionally, 1,300 Federal Housing Administration (FHA) mortgages including two public housing and two senior living buildings have been impacted, as well as 927 U.S.

Government 370

Government Mortgage Tenants Development 370

Housing Wire

APRIL 4, 2022

million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company. Before the acquisition of Bay Equity was completed, Redfin laid off 121 staffers in its mortgage division. Presented by: 1000watt.

Mortgage 370

Mortgage Real Estate Agent Loan Officers Agents 370

Housing Wire

NOVEMBER 8, 2021

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company.

Finance 397

Finance Mortgage Lending Development 397

Housing Wire

OCTOBER 18, 2022

To say that mortgage lenders are facing challenging times would be a considerable understatement. The substantial increases this year present challenges in the mortgage sector, as the note rates produced can become illiquid if not hedged. For reference, the unemployment rate was 3.4% seen in July.

Mortgage 370

Mortgage Marketing Lending Finance 370

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. What does it mean for buyers, sellers?

Mortgage 418

Mortgage Sellers Buyers Housing Market 418

Housing Wire

NOVEMBER 11, 2021

(The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.). Additionally, the administration is expanding allowable income sources for borrowers “consistent with the criteria for income and property valuations used in real-estate mortgage financing.”

Finance 476

Finance Valuation Insurance Lending 476

Housing Wire

MAY 10, 2022

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances. Fannie Mae forecasted in early March that mortgage rates would approximate between 3.7%

Mortgage 418

Mortgage Business Contracts Lending 418

Housing Wire

JUNE 30, 2021

The ideal real estate agent-lender relationship is symbiotic: the agent earns trust with their borrowers by connecting them with a great lending resource, while the lender receives a steady stream of business from the agent. As a lender, you know that most lending institutions actually charge around the same rates. Simple, right?

Real Estate Agent 435

Real Estate Agent Real Estate Agents Lending 435

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. The disclosure requirements could potentially be another data point for fair lending lawsuits. FHFA declined to comment.

Legal 397

Legal Lending Government Loan Officers 397

Housing Wire

OCTOBER 3, 2024

The Mortgage Bankers Association (MBA) is prioritizing its legislative work on a bill that would ban the practice of trigger leads, in which consumer credit reporting agencies share with other lenders that a “hard credit report” was pulled for a mortgage application. The Homebuyers Privacy Protection Act of 2024, a U.S.

Law 448

Law Business Mortgage Lending 448