Mortgage Loan News

Banks accused of “redlining” in a rush to settle

A group of seasoned bankers and private equity investors in Texas spotted an opportunity as the economy collapsed ten years ago. They raised $ 1 billion, bought shackled lenders, and called their new bank Cadence. But in 2017, its 13 branches across Houston were only in predominantly white neighborhoods, according …

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Teresa Tims of TDR Mortgage specializes in non-QM loans to help self-employed people buy their homes in California

Demand for unskilled mortgages is skyrocketing after an inevitable lull due to years of seemingly impossible lending qualifications for the self-employed. Teresa Tims is ready to help future California homeowners achieve their goals. Upland, California, United States, October 22, 2021 (GLOBE NEWSWIRE) – Non-QM loans are essential loans that help …

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Bank First reports third quarter 2021 net income

MANITOWOC, Wisconsin., October 19, 2021 / PRNewswire / – Bank First Corporation (NASDAQ: BFC) (“Bank First” or “Bank”), the holding company of Bank First, NA, reported net income of $ 11.2 million, Where $ 1.46 per share, for the third quarter of 2021, compared to net income of $ 11.0 …

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Guide to refinancing your home loan

Rob daly Getty Images You might have thought that once you bought your house and took out a 30-year mortgage, you would never have to apply for a mortgage again. After a few years, however, you may decide that it makes sense to refinance your home loan. Here’s what you …

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KBRA assigns preliminary ratings to Wells Fargo Mortgage Backed Securities Trust 2021-INV1 (WFMBS 2021-INV1)

NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 36 classes of mortgage transfer certificates from Wells Fargo Mortgage Backed Securities Trust 2021-INV1 (WFMBS 2021-INV1). The transaction is mortgage-backed for qualifying investment purposes by leading agencies. The WFMBS 2021-INV1 pool comprises 2,223 fixed rate first residential …

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USDA vs FHA Loans: What’s the Difference?

Our goal is to give you the tools and the confidence you need to improve your finances. While we do receive compensation from our partner lenders, whom we will always identify, all opinions are ours. Credible Operations, Inc. NMLS # 1681276, is referred to herein as “Credible”. Mortgage loans from …

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How APRA caps could impact how much Australians can borrow

Consumer advocate RateCity.com.au welcomes news APRA is considering changes to address growing risk in the Australian home loan market. The Council of Financial Regulators today announced that APRA will examine possible macroprudential policy responses to address the medium-term risk created as a result of soaring loan amounts. Although the regulator …

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LoanDepot lawsuit alleges large-scale fraud – NMP

The nation’s second-largest mortgage lender, LoanDepot, found itself in deep water last week when accusations by the company’s former COO, Tammy Richards, surfaced on Wednesday, revealing that the founder and CEO Anthony Hsieh had encouraged his sales team to cut corners on taking out loans in order to raise money …

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7 questions to ask a mortgage broker

Part of a mortgage broker’s job is to be asked questions. You’re their guide to buying the most expensive thing they’ll likely ever own, so asking lots of questions is definitely something that should be encouraged. In addition, there are no stupid questions to ask a mortgage broker: on the …

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MFA offers lucrative funding in targeted areas

The New Mexico Mortgage Financing Authority is best known for providing mortgage loans and down payment assistance to first-time homebuyers. However, they do much more than that. In addition to also providing tax credits and financing for the development of affordable rental housing, they also offer special financing to buyers …

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UWM Launches ‘BOLT’, Giving Mortgage Brokers the Tools to Get 15-Minute Initial Approval | Business

PONTIAC, Michigan – (BUSINESS WIRE) – Sep 25, 2021– United Wholesale Mortgage (UWM), America’s premier wholesale and buying lender, today announced the launch of BOLT, a self-service platform that provides initial approval for qualified borrowers in only 15 minutes. Mat Ishbia, President and CEO of UWM, made the announcement today …

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What is an energy efficient mortgage?

Living in an energy efficient home is desirable for many reasons. Not only are energy efficient homeowners taking steps to live more … Living in an energy efficient home is desirable for many reasons. Not only are energy efficient homeowners taking steps to live more sustainably, they are also saving …

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Pembrook Provides $ 15.35 Million First Mortgage to Acquire and Renovate Parkwood Apartments in Los Angeles County

Pembrook Capital has provided an initial mortgage loan of $ 15.35 million for the acquisition of Parkwood Apartments, a 90-unit multi-family building in Lancaster, California. Pembrook Capital Management LLC (Pembrook), one of the nation’s leading bridge lenders for affordable housing, has provided an initial mortgage loan of $ 15.35 million …

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Van Hollen and colleagues introduce legislation to help first-generation homebuyers and close the racial wealth gap

September 22, 2021 Homeownership is the primary means for middle class families to build wealth and achieve economic stability; New LIFT program will help first-generation homebuyers build equity and wealth at twice the rate of a conventional 30-year mortgage Today, U.S. Senators Chris Van Hollen (D-Md.), Mark R. Warner (D-Va.), …

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PennyMac Expands Use of ICE Mortgage Technology Suite with Encompass Investor Connect to Accelerate Correspondent Digitization | Business

PLEASANTON, Calif .– (BUSINESS WIRE) – September 22, 2021– ICE TM Mortgage Technology, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced its latest partnership with PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Integration …

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Impac Mortgage Holdings, Inc. Announces Appointments of Obi Nwokorie and Joseph Piscina to Board of Directors

IRVINE, Calif .– (COMMERCIAL THREAD) – Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the “Company” or “Impac”), today announced that Obi Nwokorie and Joseph Piscina have been appointed to the Board of Directors of the Company, effective September 17, 2021, bringing the total number of directors to six. Earlier in …

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Nuula CEO sees super-app that unites banks

Fintechs have gained momentum by unbundling old-fashioned banking and financial services – money transfers, for example – and building entire businesses around separate functions. That’s what spawned Zelle, Venmo, and other popular financial apps that are now household names. In the second phase of the digital shift, disintermediation is reintegrated, …

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Florida Reverse Mortgage Refinance: HECM to HECM Refinances Now Offered by Florida’s Best Reverse Mortgage Company

TAMPA, FL, UNITED STATES, September 20, 2021 /EINPresswire.com/ – Thinking of refinancing a reverse mortgage? Unprecedented equity gains over the past several years have placed many current reverse mortgage holders in an advantageous position. By announcing a full range of reverse mortgage refinance products, Florida’s Best Reverse Mortgage Company aims …

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Deferral of payment: a simple response to post-abstention

Throughout the pandemic, forbearance plans played an important role in providing mortgage relief to homeowners as they faced challenges related to COVID-19 impacting their finances. These include job loss, declining income and illness. But what should owners do after the forbearance ends? A new home retention solution, COVID-19 payment deferral, …

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Black Knight: Mortgage Monitor July 2021

Driven by the booming housing market, exploitable equity – the amount available to homeowners before reaching a maximum combined loan-to-value ratio (CLTV) of 80% – has jumped almost 40% from the previous year. ‘last year. At $ 9.1 trillion in total – yet another record high – the average mortgage …

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Home loans drive up household debt

U.S. household debt grew at the fastest rate since 2013 in the second quarter, driven by a mortgage boom as Americans took advantage of low borrowing costs and sought more space to work from home. Household liabilities soared $ 313 billion to $ 14.96 billion at the end of June, …

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Better Launches Better Appraisal Guarantee ™, To Make Buying A Home Easier, More Accessible And Inclusive For All Homebuyers | Business

NEW YORK – (BUSINESS WIRE) – July 14, 2021– Better, one of the fastest growing digital homeowners in the United States, today announced the launch of Better Appraisal Guarantee, enabling mortgage applicants and buyers potentials to forgo their evaluation contingencies and compete more effectively with cash offers. Qualified buyers who …

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Abstention plans continue to decline

The latest Mortgage Bankers Association (MBA) forbearance and call volume survey as of July 4, 2021 found that the total number of loans currently in forbearance fell 11 basis points from 3.87% the volume of the agent portfolio the previous week to 3.76%. . The MBA estimates that approximately 1.9 …

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Mortgage Monitor: Defaults Improve, Cost of Homeownership Rises

Homeownership is getting more expensive, severe defaults are high but improving, borrowers still use forbearance plans, foreclosures are tiny, and homeowner households collectively have billions of dollars in exploitable net worth. Everything is detailed in Black Knight’s monthly Mortgage Monitor data and analysis team, which examines a variety of issues …

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