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Navigating the Lending Landscape Amid Rising Interest Rates Explore the challenges and strategies in the lending landscape amid rising interest rates. Discover how lenders are adapting and educating borrowers.
Lending (1534)
Ginnie’s Bright Leaving for Private Sector Post
Michael Bright, executive vice president and COO of Ginnie Mae, has accepted a position in the private sector and will resign from his position on January 16. Bright will serve as CEO of the Structured Finance Industry Group, a trade group. Maren Kasper, executive vice president of Ginnie Mae, will step in as acting president… Read more...
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Black Knight: Refis Make Sense for an Additional 550K Homeowners
The number of homeowners with mortgages who could likely qualify for and see at least a 0.75 percent interest rate reduction by refinancing has increased by around 550,000, due to the 30-year fixed rate falling to 4.55 percent as of the end of December, according to the Mortgage Monitor Report from Black Knight Inc. [caption… Read more...
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Even in Lieu of Legislation, Housing System Can Be Strengthened
Several steps can be taken can be taken to reform and strengthen the U.S. housing finance system even in the absence of federal legislation, according to a report. It recommends measures to strengthen the housing finance system, including greater transparency into Federal Housing Finance Agency oversight of government sponsored enterprise activities, and more risk-based pricing… Read more...
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Leaders on Leadership: Steve Johnson, President of Security National Mortgage
Name: Steve Johnson Title: President Company: Security National Mortgage Corp. In the Mortgage Business Since: 1982 Number of Employees He Manages: 825 Security National Mortgage Corp. is an independent non-bank mortgage company that does business in 45 states, with branches in 23 of them. The majority of its volume, 80%-85%, is generated from five states:… Read more...
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Quicken: Half a Point Separates Owners, Appraisers on Valuations
The year ended with owner and appraiser perceptions of home values slightly moving in different directions, although the difference remains less than half a percent nationally. Appraisal values were an average of 0.45 percent lower than homeowners expected in December, according to the National Quicken Loans Home Price Perception Index. This is compared to November,… Read more...
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Detwiler Weighs in on Reverse Mortgages, Technology, M&A
[caption id="attachment_8871" align="alignright" width="333"] Detwiler: There could be more consolidation among AMCs that haven't begun developing technology.[/caption] The Mortgage Leader spoke with Michael Detwiler, equity partner and CEO of Class Valuation, about the decision to invest in appraisal technology, the firm’s recent acquisition of Landmark Network, an appraisal management company--and why he predicts more consolidation… Read more...
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30-Year Industry Vet, Successful Producer Joins loanDepot
John Bianchi, a 30-year veteran of the mortgage business, has been named executive vice president for national sales at loanDepot. He will work with the executive team to cultivate and enhance market presence, develop differentiated products and services and create market penetration strategies designed to fuel individual producer as well as channel and company growth.… Read more...
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Unemployment Increases, Non-Bank Mortgage Employment Slips
The unemployment rate increased to 3.9 percent in December, from 3.7 percent in the previous month. The number of unemployed persons increased by 276,000 compared with the previous month to 6.3 million. A year earlier, the jobless rate was 4.1 percent, and the number of unemployed persons was 6.6 million, according to the Bureau of… Read more...
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Mr. Cooper Acquires $48B in Servicing Rights & More
Mr. Cooper Group Inc. is acquiring servicing rights on $24 billion in mortgages, a subservicing contract for an additional $24 billion in loans and the Seterus mortgage servicing platform from IBM. Details of the transaction were not disclosed. “We are excited to welcome more than 300,000 customers and the Seterus team to the Mr. Cooper… Read more...
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Trade Groups Seek Public Hearing on Increased Appraisal Threshold
Sixteen organizations that represent the interests of the appraisal industry have sent a letter to the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency requesting that the agencies hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 … Read more...
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