John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the […]
Competition for HELOC business heats up as home equity grows Read More »
Mortgage rates rose in the past week, but even as they remain close to 7%, there’s little evidence to suggest they’ll move much higher and further constraint housing affordability. On Tuesday, 30-year conforming rates averaged 6.93% while 15-year conforming rates averaged 6.76%, according to HousingWire’s Mortgage Rates Center. In comparison, these figures stood at 6.88%
Mortgage rates remain close to 7%, but there are positives for housing Read More »
Rocket Companies, traditionally known for its call center model, is diversifying its channel strategy amid its deals to acquire Redfin and Mr. Cooper, according to Chief Operating Officer Heather Lovier. “When we think about how we’re diversifying, obviously, Rocket is very consumer-direct — we have our direct-to-consumer channel. But we’re also diversifying in the field
Rocket has regionalized consumer direct channel Read More »
The Mortgage Bankers Association (MBA) highlighted the deregulatory efforts of the Trump administration at its Secondary and Capital Markets Conference in New York this week, including work at the CFPB. But on the topic of releasing the government-sponsored enterprises (GSEs) from conservatorship, MBA president and CEO Bob Broeksmit said he isn’t expecting action anytime soon.
MBA’s Bob Broeksmit: ‘The CFPB is listening’ to industry concerns Read More »
Non-QM (Non-Qualified Mortgage) lending has become essential to today’s mortgage landscape, providing solutions for creditworthy borrowers who fall outside traditional lending criteria. Gregory Tsang is the Chief Executive Officer and co-founder of eRESI, a Non-QM correspondent whole loan investor offering both Delegated and Non-Delegated options. Co-founded in 2019 alongside President Tim Wang, eRESI was created
Lending beyond limits: eRESI’s perspective on the future of Non-QM loans Read More »
United Wholesale Mortgage (UWM) is rolling out new artificial intelligence (AI)-powered tools designed to help brokers analyze competitors’ loan estimates and assist borrowers online. The tools aim to improve retention as refinancing activity is expected to rise. The company announced the launches during its UWM Live! event on Thursday in Pontiac, Michigan, amid intensifying competition
UWM rolls out AI tools to analyze rivals’ offers, virtually assist borrowers Read More »
BOK Financial recently announced the launch of its new mortgage finance line of business, a new vertical dedicated to meeting the credit needs of nonbank mortgage originators across the country. As a top 10 dealer of mortgage-backed securities that offers trading liquidity to more than 500 counterparties, BOK Financial has supported its client base for
BOK Financial launches mortgage finance line of business Read More »
The lending playbook needs an overhaul Let’s cut through the noise: The mortgage market isn’t changing; it’s already changed. Volatility is the norm, margins are squeezed within an inch of viability and borrowers expect a frictionless experience every time. If your entire business still revolves around purchase and refinance, you’re not just playing catch-up, you’re
Outdated mortgage tech is draining lenders: Here’s how to stop the bleeding Read More »
Bidding wars for producing mortgage loan officers are back with a vengeance — and it’s largely in the hopes of capitalizing on an upcoming refinance wave, recruiters and executives tell HousingWire. Just ask Candice McNaught, the senior vice president of business development and strategic initiatives at Connecticut-based Planet Home Lending. McNaught has the tough task of
Bidding wars for mortgage LOs heat up again Read More »
Home Equity Investment (HEI) is a relatively new option for private equity real estate investors, and one that carries significant promise. Essentially, is a secured contract where a homeowner receives cash today for a share of the home’s future value at a refinancing or sale event. Unlike a loan, there are no monthly payments or
Solving the HEI origination securitization challenge Read More »