The mortgage-servicing rights market just keeps on ticking even as the overall housing market takes a licking. And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. Mortgage advisory firms Prestwick Mortgage Group and partner Mortgage Capital Trading (MCT); Incenter Mortgage Advisors; and MIAC Analytics are out with a
HousingWire recently spoke with Kevin Koon-Koon, chief technology officer at Grid 151, about streamlining and simplifying how mortgage lenders interact with the rest of the ecosystem. HousingWire: What are some common challenges lenders face when it comes to interacting with the rest of the mortgage ecosystem? Kevin Koon-Koon: Many mortgage
Conference season is here in full force. After a one-to-two-year break from in-person events due to the COVID-19 pandemic, it can be challenging to navigate the slew of mortgage conferences that hit the industry each fall. For some, conference season never stops. In a recent episode of the Housing News
Amid one of the most challenging mortgage markets since the great financial crisis, Finance of America Mortgage LLC (FAM) will shut down by the end of the year following its decision to exit the wholesale channel and the collapse of a forward retail deal with Guaranteed Rate earlier this month.
On Thursday the National Association of Realtors reported that we had a 23.8% year-over-year decline in existing home sales in September and total inventory has now fallen on back-to-back reports. Earlier in the year, I labeled this a savagely unhealthy housing market based on the premise that inventory would break
Drop in refis, soaring interest rates and rise in homeowner costs to utilize equity drove prepayment to the lowest level since November 2000. Prepayment activity dropped 14.9% to a single-month mortality (SMM) rate of 0.57% in September – below the recent record of 0.59% set in January 2019, according to
Ginnie Mae on Friday announced that it has extended the mandatory implementation date of its controversial risk-based capital requirement (RBC) for nonbanks to Dec. 31, 2024. The rule — which reduced the minimum risk-based capital ratio from 10% to 6%, but put a 250% risk weight on the MSR asset and
In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Based on decreases in borrowers’ mortgage inquiries, early payoff (EPO) of mortgages
The parent company of mortgage servicing rights clearinghouse Marlin Mortgage has struck a deal to acquire 100% of the outstanding equity of direct-to-consumer mortgage lender LoanFront. Terms of the deal were not disclosed and it requires regulatory approval. In acquiring New Jersey-based LoanFront, private equity-backed Marlin would be absorbing a
Real estate investors purchasing distressed properties at foreclosure auction have been telegraphing a possible housing market slowdown for the last six months. A deeper dive into foreclosure buyer behavior shows which markets are most likely to see a home price correction in the next six months. Foreclosure auction buyers started
Higher mortgage rates continued to impact home sales over the last month, with existing home sales declining in September for the eighth consecutive month, according to a report from the National Association of Realtors (NAR). “The housing sector continues to undergo an adjustment due to the continuous rise in interest
Real estate tech firm Voxtur Analytics Corp. on Wednesday announced that it has released an Attorney Opinion Letter (AOL) product for VA direct and VA-backed home loans as a compliant alternative to title insurance. Voxtur previously announced this year that it had produced an AOL for Fannie Mae loans. The
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
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