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Appraisal management technology and compliance solutions provider Appraisal Logistics has named Anthony Savala as senior vice president of sales and Nicholas Turansky as national account director. Anthony Savala, SVP at Appraisal Logistics. Nicholas Turansky, national account director at Appraisal Logistics.
The Mortgage Bankers Association (MBA) this week published a proposal for Ginnie Mae to develop a new mortgage securitization product that could boost the availability of private capital liquidity sources into the market, particularly in periods of stress for the U.S. could serve as a logistical template for such a product.
From 2010 to 2024, the reverse mortgage industry sought to allow remote reverse mortgage counseling in the state of Massachusetts, citing an insufficient number of actual counselors and logistical challenges for senior clients. Logistically difficult’ Industry reactions at the time were swift.
It’s been delayed, but that’s not enough for the mortgage industry. “There is a reason the revised general Qualified Mortgage (QM) definition excludes the DTI ratio: Studies demonstrate that as a stand-alone measure, DTI is not a strong indicator of a borrower’s ability to repay.”
The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. 24-26 in San Diego.
The firm announced Wednesday that it has acquired Denver-based digital mortgage automation and point-of-sales software company Floify. It also previously acquired insurance broker Elite Insurance Group , logistics and moving services firm Kandela and personal services company HireAHelpe r. The acquisition cost Porch about $76.5
Ginnie Mae this week released its fiscal year 2024 financial report , which describes how the company has aimed to provide liquidity to the mortgage industry, accessibility to affordable housing and value to U.S. may also have potential implications beyond the reverse mortgage sector. We believe the rollout of the new HMBS 2.0
A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would nullify any loans originated without proof of such counseling having taken place. 13 by the National Reverse Mortgage Lenders Association (NRMLA). New Jersey State Sen.
Elizabeth Green has joined Appraisal Logistics , a provider of appraisal management technology and compliance solutions for the residential/commercial mortgage industry, as chief strategy officer. Green is an industry veteran and collateral valuation expert who has served the mortgage industry for 30 years.
That’s the entire mortgage industry shouting, “hip, hip hooray!” Mortgage industry lobbyists and practitioners alike complained that the fee was “unworkable” and would result in logistical and compliance nightmares, as well as confusion and mistrust from borrowers. Did you hear that sound?
Mortgage loan fraud typically rises in a purchase market. An FBI overview of mortgage fraud notes it is “crime characterized by some type of material misstatement, misrepresentation or omission in relation to a mortgage loan, which is then relied upon by a lender.”.
With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. Logistics and adoption are two main hurdles commonly discussed amongst industry participants.
Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.
Indianapolis is a hub for logistics businesses, including the world’s second-largest FedEx Express hub and the divisional headquarters for freight and transportation giant CSX. Holle’s business was down about 10% in 2023 compared to 2022, which she attributes almost exclusively to elevated mortgage rates.
WorkWave helps mobile workforce companies, and transportation and logistics industries to estimate jobs, schedule and route mobile workers, and bill customers. Through the acquisition, the companies will expand their offerings to include pest control, among other services.
While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. The build process was a logistical nightmare from start to finish. I know that’s not the case for most people.
In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.
California-based nonbank lender Carrington Mortgage Services has invested in boosting the growth of its wholesale channel, with the latest announcements including a new loan processing technology and plans to increase the sales team. Department of Agriculture – and non-qualified mortgages (non-QM) loans.
The recently completed $300 million-plus acquisition of Home Point Capital by Mr. Cooper provided an attractive opportunity to bolster the company’s existing mortgage servicing rights (MSR) portfolio, and it’s expected to boost the company’s bottom line within the next couple of quarters.
In light of that, HW Media CEO Clayton Collins recently sat down with Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions , to talk all things non-QM lending. . While there are logistical learning curves, the main thing Hutchens highlights as a challenge is preconceived – and misinformed – ideas of what non-QM lending is. “We’ve
The federal government’s signature program to help homeowners from falling behind on their mortgage, having utilities shut off, or being forced out of their homes, is finally being rolled out across America through pilot programs. HousingWire spoke to servicers to gain insight into how the rollout was going for industry players. “In
It has been fantastic watching HousingWire grow over my career to become a key independent news source for the mortgage and housing industry, and I look forward to engaging with marketing leaders in-person to share strategies, new ideas and discuss best practices. HousingWire: Why are you excited to speak at HousingWire Annual 2022?
Agree on how to proceed Start the conversation early so you all agree on the logistics of the sale from the beginning of the process. Does your buyer need to secure a mortgage ? Finally, get a professional appraisal, which will be required by a lender if your family member needs a mortgage. Put everything in writing.
For lenders to successfully manage their portfolios, they need to provide borrowers with a seamless mortgage process from start to finish. The second challenge is the actual logistics. Why appraisal is the next big opportunity in mortgage fulfillment. The first is legacy technology.
In the quest to extend homeownership to everyday Americans, local lenders—a segment that includes credit unions, community banks and independent mortgage banks serving communities across the country—play a vital role. The only banking presence in one in five U.S. The only banking presence in one in five U.S.
Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. And whenever you increase the supply, you’re going to make the logistics more efficient. But what if we want to close even faster?
These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. In a field built on risk — like mortgage lending — the lack of control or agency can often feel like the biggest risk of all.
HousingWire’s newest Marketing Leaders award recognizes marketing executives like David King , CMO of A&D Mortgage who have been leading their teams to pivot marketing strategies to adapt to client needs in recent months. “We This was very true for A&D Mortgage.
Appraisal Logistics recently announced its president, Frank Danna, will serve as president of the Maryland Mortgage Bankers and Brokers Association for 2022. Danna is a long-time member of the organization and has served in various capacities through the years, but this is first time serving as president. Read on to learn more.
Even on that topic, without this dedicated representation, a buyer would face the logistical nightmare of coordinating viewings with multiple listing agents, a task hindered by inefficiencies and delays. Buyer’s agents facilitates so much more than just being a glorified door-opener, like many outsiders would have people believe.
From the suburban Virginia headquarters of mortgage securitizer Freddie Mac, Catalfo kept tabs on a new virus that the Chinese government was having trouble containing to the city of Wuhan. Her team worked with lenders to lay out policies for mortgage forbearance, if it was needed.
The perception of VA loans as risky and logistically complicated — even if an outdated view — continues to impact the competitiveness of the borrowers it serves. MV: Stakeholders in the mortgage industry have been calling for the VA to extend the deadline for the partial claim program and possibly make it a permanent fixture.
The bottom line to me was that my decade or more of experience at that point in my career was valuable, but the efficiency I needed to be successful in mortgage work was devaluing my time from an efficiency perspective. With mortgage related work, we get an order in and it goes to my office administrative team.
If you're a current homeowner and are ready to relocate, there are some logistical and financial obstacles you'll need to overcome. This is when you'll need to seek out both expert Real Estate Agents and mortgage lenders to find what options are available to you. However, there are some things you should know before you get started.
Logistics and Stress - It goes without saying that moving can be a stressful situation. Logistical Considerations to Alleviate Stress It goes without saying that moving can be a stressful situation, especially if you are moving with children. Second, begin to prepare for pre-qualification to obtain a mortgage for your new home.
Selling to a cash buyer offers several advantages: No waiting for mortgage approvals Faster closing, often within days or weeks No need to pay for repairs or staging Research reputable cash buyers to avoid scams. Consider Transportation and Moving Logistics Selling your home is a big step, but the move itself can be just as challenging.
Judy Crockett, real estate agent and certified residential specialist states that “working with first-time buyers is challenging primarily because the buyers are typically younger, inexperienced, and overwhelmed by the logistics of purchasing a new home.” Read on for 6 things you should know about first-time homebuyers.
There are many factors to consider when selling a home, and you may be wondering what happens to your mortgage when you move. After all, the 2018 American Community Survey found that the median length of time homeowners stayed in their homes was 13 years, a shorter length of time than most mortgage terms.
This can be done through a bank or private mortgage company of your choice. The following are some of the most common mortgage options provided to you by lenders: Federal Housing Administration (FHA) Loans - FHA loans are government-insured loans and are relatively speaking, easy to qualify for. USDA Loans- The U.S
Many homeowners take advantage of peak tourist seasons by renting out their properties, which can cover mortgage payments or fund upgrades. High season means high demand for logistics and accommodations. Also, there’s potential for rental income. Culturally, being in a tourist hub means there’s always something new around the corner.
COVID-19 Impact on the Mortgage Market One of the positive results of this global pandemic is the affect it has had on the U.S. mortgage market. This dropped 30-year mortgage rates to the floor – and we are happy to say that it stayed there. Low mortgage rates mean you can get significantly more home for a much smaller payment.
COVID-19 Impact on the Mortgage Market. mortgage market. This dropped 30-year mortgage rates to the floor – and we are happy to say that it stayed there. This dropped 30-year mortgage rates to the floor – and we are happy to say that it stayed there. This is the lowest rate in 30 years. What does this mean for borrowers?
In some instances, this can be costly and logistically challenging. If an owner wants us to lease-up, collect rent, perform maintenance, pay mortgages and property taxes, and send owner revenue, we can do that as well! To achieve that, property managers will need to visit their properties sometimes once a quarter.
Between rising home prices and mortgage rates, much of California has become extremely unaffordable. This was driven by high prices, a jump in mortgage rates, and negative sentiment about the economy overall. Historically, when money is exiting the fixed income market, mortgage-backed securities feel the effects first.
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