FHA

Guild Mortgage Named a Top Ten Lender by Maine State Housing Authority

Retrieved on: 
Friday, July 21, 2023

Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, was named a Maine State Housing Authority Top Ten Lender for 2022 for its work with the state’s First Home Loan Program for first-time homebuyers in Maine.

Key Points: 
  • Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, was named a Maine State Housing Authority Top Ten Lender for 2022 for its work with the state’s First Home Loan Program for first-time homebuyers in Maine.
  • The Maine State Housing Authority ( MaineHousing ) is an independent authority created by the Maine State Legislature in 1969 to address problems of unsafe, unsuitable, overcrowded and unaffordable housing.
  • MaineHousing administers several federal housing-related programs that reduce the costs associated with housing for people in the state.
  • “It’s an honor to be recognized by MaineHousing for our efforts to assist first-time homebuyers in Maine,” said Mike Ianno, regional vice president for Guild Mortgage.

PROFITS ON HOME SALES REBOUND ACROSS U.S. IN SECOND QUARTER OF 2023 AS HOUSING MARKET REVIVES

Retrieved on: 
Thursday, July 20, 2023

IRVINE, Calif., July 20, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 47.7 percent in the second quarter – the first gain in a year.

Key Points: 
  • Gross profits also shot up from the first to the second quarter of 2023.
  • The about-face in profits and prices around the U.S. during the second quarter reflected a housing market in flux.
  • Prices and profits went back up in the second quarter during the start of the annual buying season, helped along by several forces.
  • Metro areas were included if they had sufficient population and at least 1,000 single-family home and condo sales in the second quarter of 2023.

Large Loan Limit Increased to $120 Million

Retrieved on: 
Thursday, July 20, 2023

NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- In a significant development for the housing industry, HUD announced on June 21, 2023, that it has revised its large loan limit from $75 million to $120 million.

Key Points: 
  • NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- In a significant development for the housing industry, HUD announced on June 21, 2023, that it has revised its large loan limit from $75 million to $120 million.
  • HUD's Multifamily Accelerated Processing ("MAP") Guide, which governs the underwriting standards for large multifamily loans, has been updated through this Mortgagee Letter to reflect the new loan limit.
  • The preferential terms that were previously applicable to loans up to $75 million will now extend to loans up to $120 million.
  • HUD's decision to revise the large loan limit to $120 million in 2023 establishes a base dollar amount and base year for future adjustments.

Carrington Mortgage Services Offers 40-Year Loans and Temporary Buydowns

Retrieved on: 
Tuesday, July 18, 2023

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide.

Key Points: 
  • Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide.
  • To improve affordability for homebuyers, CMS has expanded its offerings to include 40-year loans and temporary buydowns.
  • Although not available for conventional and government loans, the 40-year loan, a sensible option in recognition of prevailing homebuying trends, is available for all CMS non-QM products: Carrington Flexible AdvantageSM, Carrington Flexible Advantage PlusSM, Carrington Prime AdvantageSM and Carrington Investor AdvantageSM.
  • For now, temporary buydowns are only available for Carrington’s Government and Conforming Conventional purchase loans, although the company’s future plans include offering temporary buydowns for its non-QM loan products.

Black Knight: Case Study Highlights Servicer Success Using Self-Service Loss Mitigation Technology to Connect With and Engage Borrowers in Times of Financial Distress

Retrieved on: 
Thursday, July 13, 2023

JACKSONVILLE, Fla. , July 13, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of a complimentary case study illustrating how self-service technology (SST) deployed by loan servicers during natural disasters can improve loss mitigation outcomes.

Key Points: 
  • "When borrowers face periods of financial hardship, they need seamless access to qualified assistance options," said Joe Nackashi, CEO of Black Knight.
  • For borrowers, capabilities that offer convenient access to assistance can make an impactful difference in helping them stay in their homes."
  • The "Helping Homeowners in Times of Financial Crisis" case study looks at borrowers who use Servicing Digital , Black Knight's consumer-facing responsive web and native app solution.
  • This additional functionality helps servicers provide a broad array of forbearance options to borrowers impacted by disasters.

Freedom Mortgage Partners with the USO for 11th Annual Rucksacks to Backpacks Campaign

Retrieved on: 
Tuesday, July 11, 2023

BOCA RATON, Fla., July 11, 2023 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service, independent mortgage companies, and a top Veterans Administration (VA) and Federal Housing Administration (FHA) lender in the U.S., has started its annual Rucksacks to Backpacks campaign to provide necessary school supplies for many children of active-duty military, National Guard members, and Reservists. Funds raised from the campaign, now in its 11th year, will enable children in grades K–8 to pick the school supplies they need at distribution events at nine USO (United Service Organizations) centers across the country.

Key Points: 
  • "We are so proud to continue our partnership with the USO to bring school supplies to many children of military families across the country," said Stanley C. Middleman, president and CEO of Freedom Mortgage.
  • Over the years, Freedom Mortgage, through this campaign, has donated nearly 26,000 backpacks and over 68,000 school supply items, including pens, notebooks, and folders.
  • "We are grateful to Freedom Mortgage for their support and partnership with the USO," said USO Northeast Region President Rebecca Parkes.
  • The USO thanks the employees, customers and leadership of Freedom Mortgage for their support of service members and their families."

PrimeLending Launches 1Day AdvantEDGE: A Game-Changing 24-Hour Mortgage Approval Process

Retrieved on: 
Tuesday, July 11, 2023

PrimeLending, a PlainsCapital Company (PrimeLending), a leading national home loan provider, is thrilled to introduce 1Day AdvantEDGE1, a streamlined mortgage credit approval2 process that provides a significant advantage in today's competitive market.

Key Points: 
  • PrimeLending, a PlainsCapital Company (PrimeLending), a leading national home loan provider, is thrilled to introduce 1Day AdvantEDGE1, a streamlined mortgage credit approval2 process that provides a significant advantage in today's competitive market.
  • "1Day AdvantEDGE represents a significant leap forward in the mortgage industry,” said Tim Elkins, PrimeLending’s Chief Production Officer.
  • “We are proud to provide our customers with a simplified and accelerated approval process that gives them a real advantage in today's competitive market."
  • To learn more about 1Day AdvantEDGE and how it can benefit your homebuying experience, visit the PrimeLending website or contact a PrimeLending loan officer today.

John Sloot Joins Greystone as a Managing Director in Dallas

Retrieved on: 
Monday, July 10, 2023

NEW YORK, July 10, 2023 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance firm, announced that John Sloot has joined as a Managing Director in Dallas, Texas.

Key Points: 
  • NEW YORK, July 10, 2023 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance firm, announced that John Sloot has joined as a Managing Director in Dallas, Texas.
  • Mr. Sloot will focus on originating multifamily debt solutions across Greystone’s full range of financing platforms including Fannie Mae, Freddie Mac, FHA/HUD, CMBS, bridge, and proprietary loan executions.
  • Mr. Sloot brings close to two decades of real estate financing experience to his new role, having focused primarily on multifamily debt executions throughout his career.
  • “I’m looking forward to leveraging my experience in multifamily as a member of Greystone’s industry-leading team,” said Mr. Sloot.

NYC Firefighter, Jacqueline Benel, Honored with the Freedom Mortgage 2023 Celebrate Freedom Award

Retrieved on: 
Wednesday, July 5, 2023

BOCA RATON, Fla., July 5, 2023 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies and a top Veterans Administration (VA) and Federal Housing Administration (FHA) lender in the U.S., has named Jacqueline Benel of New York this year's winner of the company's Celebrate Freedom Award. Benel was officially recognized on July Fourth at the Wawa Welcome America Festival in Philadelphia, where the Celebration of Freedom ceremony was held in front of Independence Hall. Benel received a check for $10,000 from Freedom Mortgage and a trip for two to the festival.

Key Points: 
  • Benel received a check for $10,000 from Freedom Mortgage and a trip for two to the festival.
  • The Celebrate Freedom Award is open to all service members, veterans, first responders, and healthcare workers who enter and answer the question: "What does freedom mean to me?"
  • Stanley C. Middleman, Freedom Mortgage president and CEO, said, "It was inspiring to hear from so many heroes during our annual Celebrate Freedom Award contest.
  • For the first 600 submitted applications for the Celebrate Freedom Award, Freedom Mortgage made a $5 donation to both Feeding America® and the USO (United Service Organizations).

HOME FLIPPING ACTIVITY REMAINS HIGH ACROSS NATION AS INVESTOR PROFITS SHOW SIGNS OF IMPROVING IN FIRST QUARTER OF 2023

Retrieved on: 
Thursday, June 22, 2023

IRVINE, Calif., June 22, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2023 U.S. Home Flipping Report showing that 72,960 single-family homes and condominiums in the United States were flipped in the first quarter. Those transactions represented 9 percent of all sales.

Key Points: 
  • The latest portion was down from 9.4 percent of all home sales in the nation during the first quarter of 2022.
  • The report also revealed that while flipping activity rose, mixed trends emerged for raw profits and profit margins.
  • Profits and investment returns both increased slightly from the fourth quarter of 2022 to the first quarter of this year.
  • Gross flipping return on investment was calculated by dividing the gross flipping profit by the third sale (purchase) price.