Mortgages

If the Federal Housing Administration's rulemaking on home equity conversion mortgages were to go into effect as written, borrower contributions would be reduced by thousands of dollars.

News of President Chris Marshall's planned departure at year-end 2024 came amid reports of net servicing gains and the start of a capital raise for an MSR fund.

Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.

Despite the overall decline, refinances saw an uptick even as rates approached 8%, with volumes up in both conventional and government-sponsored markets, the Mortgage Bankers Association said.

The nation's biggest real estate franchisor also shed almost $300 million from its over $2.5 billion in company debt.

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

Until now, National MI and Essent did not have direct ties with the legacy platform, although they are already on the newer enterprise loan origination system.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

Mortgage borrowers alleged in U.S. District Court that the servicer applied funds in the wrong order and charged unnecessary interest.

The top five servicers that are depositories have a combined unpaid principal balance of more than $1.89 trillion at the end of Q2 2023.

Loans more than 90 days past due increased for the first time this year in September, according to ICE Mortgage Technology.

The single-family rental giant struck a deal to manage homes for another major landlord at a time when scarce inventory of properties for sale is making it hard to expand.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

As part of its breakup fee, the Old Greenwich, Connecticut REIT will come away with an over 6% interest in its New York counterpart.

The loan, dubbed Homesafe Second, will allow borrowers 55 and older to tap their home equity via a second mortgage.

By the end of this year, origination volume at HFAs will come in at approximately $29 billion, close to pre-pandemic levels, according to a new Moody's report.

Households shelled out 5% more to upgrade their properties compared to a year ago, but volume will decline by almost 8% over the next 12 months, according to Harvard researchers.

The top five towns have an average median home value of $646,380.