Mortgage – HousingWire |
- Tai Christensen to speak at HW Annual Sept. 27-28
- How can the mortgage industry retain more employees?
- Refis stubbornly make a bit of a comeback
- Maxwell launches new secondary platform for small lenders
| Tai Christensen to speak at HW Annual Sept. 27-28 Posted: 22 Sep 2021 12:24 PM PDT The Biden administration recently announced its efforts to address the lack of affordable housing in America by increasing funding for existing programs geared toward producing, financing and rehabilitating affordable housing. HousingWire invited Tai Christensen, director of government affairs for CBC Mortgage Agency, to HW Annual Sept 27-28 to discuss these recent efforts by the Biden administration and how the mortgage and real estate industries can responsibly expand homeownership in under-served communities. Christensen has 17 years of experience in the mortgage industry, starting her career in 2003 as a contract loan processor for multiple mortgage brokerages in Salt Lake City. In 2008 she began to work with the many American families facing foreclosure due to the Great Recession. She managed a mortgage brokerage focusing on modifying loans for borrowers facing foreclosure, and then became the senior manager of a law firm specializing in negotiating mortgage terms for borrowers with Trustee Auction dates. Most recently, Christensen has become a national spokesperson for the UHOUSI Initiative, a comprehensive plan that focuses on increasing sustainable homeownership within black and brown communities. She also serves as an advisory council member for the American Mortgage Diversity Council. Christensen will join Montell Watson, director of corporate strategy at Movement Mortgage and Laura Brandao, president and partner at American Financial Resources for a panel discussion on recent FHA updates, the role of credit scoring and credit alternatives and how real estate professionals can play a role in changing the script of homeownership. HW Annual will focus on All Things Housing, bringing together professionals from real estate, closing, valuations and mortgage to tackle some of the most important topics in the industry, with experts and practitioners to give you the information you can't get anywhere else. In addition to Christensen, the event will feature keynote sessions with cybersecurity expert Selim Aissi and president of Blend and former CEO of Fannie Mae, Tim Mayopoulos. Attendees will also hear from industry pros like Christian Wallace, head of real estate services at Better.com, Logan Mohtashami, HousingWire's lead analyst, and Lyle Radke, head of collateral policy at Fannie Mae. The event will also have sessions covering:
HW Annual will be a great time to network as you enjoy the venue, the Omni Frisco, which is situated in a walkable area full of restaurants, bars, and the Star, the site of the Dallas Cowboys practice field. The schedule includes time to discover the latest technology through product demos and time to catch up with peers. Find out all the details here. Our HW+ members get a highly discounted rate and you can take advantage of that by signing up here. The post Tai Christensen to speak at HW Annual Sept. 27-28 appeared first on HousingWire.  |
| How can the mortgage industry retain more employees? Posted: 22 Sep 2021 11:14 AM PDT  This year's list of HousingWire Insiders radiate influence well beyond the walls of their individual companies, providing the infrastructure that upholds the whole industry. HousingWire decided to dive deeper into a few of our award winners to get a peek behind the curtain on what defines an Insider, with this Q&A featuring Sandra Madigan, digital product director, enterprise product strategy, servicing technologies at Black Knight. Even though it's rare that housing finance is listed on someone's career aspirations when leaving high school, it doesn't mean that the people who are in this space are any less passionate about what they do. This can be seen in these Q&As with three HousingWire Insiders as they share how they got into the housing industry, how to get more people into the space and the key to retaining employees. Humble, driven and innovative, the Q&As also feature Dave Sheeler, president of residential servicing and correspondent lending at Freedom Mortgage, and Agnes Standowicz, vice president, underwriting leader at United Wholesale Mortgage. To read the other two Q&As in the magazine, go here. Brena Nath: First off, congrats on being named a 2021 Insider. If you were standing on a stage giving an acceptance speech, who would you want to thank for helping you get where you are today?  This content is exclusively for HW+ members.Start an HW+ Membership now for less than $1 a day.Your HW+ Membership includes: Already a member? log in The post How can the mortgage industry retain more employees? appeared first on HousingWire.  |
| Refis stubbornly make a bit of a comeback Posted: 22 Sep 2021 04:00 AM PDT The week following Labor Day saw a flurry of mortgage loan application activity, with volume jumping by 4.9% for the seven days ending Sept. 17, according to the Mortgage Bankers Association. Refis were on the front foot again. The increase in application activity is quite different from the MBA's survey published in early September, which saw application volume decline by 1.9%, dragged down in part by low refi activity and unexpectedly low purchase volume. Joel Kan, associate vice president of economic and industry forecasting at MBA, at the time noted that the "economic data has sent mixed signals." But it seems that this week's data is more straightforward. Both the refi index and the purchase index came in strong. According to the MBA, the refi index increased by 7% from the previous week but hovered 5% lower than the same week on year ago today. Moreover, the purchase index increased by 2% from one week earlier, while the unadjusted purchase index grew by 12% compared with the previous week. What does the future hold for loan origination systems? As the industry shifts from an emphasis on refinance to purchase originations, mortgage bankers are looking to leverage technology to speed up their origination processes and make them more efficient. This white paper will cover how cloud-based LOS's can help mortgage bankers tackle purchase demands in a hot market. Presented by: CalyxKan said in a statement that the surge in both refis and purchases was mainly driven by rates that remained low at 3.03%. "There was a resurgence in mortgage applications the week after Labor Day, with activity overall at its highest level in over a month, and purchase applications jumping to a high last seen in April 2021," said Kan. He added, "Housing demand is strong heading into the fall, despite fast-rising home prices and low inventory. The inventory situation is improving, with more new homes under construction and more homeowners listing their home for sale." However, Kan did note that despite the uptick in activity, purchase applications "were still 13% lower than the same week a year ago." Overall, the refi share of mortgage activity once again increased, inching up to 66.2% of total applications from 64.9% last week. The MBA said that the refi activity was pushed by an increase in FHA and VA applications, with the share of total FHA applications increasing to 11.5% from 9.9% the week prior. The VA share of total applications jumped to 10.4% from 10.2% the previous week, while the USDA share increased to 0.5% from 0.4%, the trade group said. The post Refis stubbornly make a bit of a comeback appeared first on HousingWire.  |
| Maxwell launches new secondary platform for small lenders Posted: 21 Sep 2021 03:41 PM PDT Six months after raising capital, digital mortgage startup Maxwell announced Tuesday the launch of a trading platform to provide community lenders access to the secondary market, connecting these loan sellers to buyers. The initiative attempts to reduce the volume of loans in small and midsize lenders' balance sheets, so they can capture the volume of new loans available in the market and compete with the industry's largest players. The new solution, called Maxwell Capital, is intended for lenders who originate loans on the Maxwell platform and have an average total volume between $200 million and $2 billion a year. Maxwell will provide the platform service for sellers and attract buyers. (The company said it has already gone through the process of getting four investors onboard.) Also, the startup will use its own capital to buy loans from community lenders. Part of the money for the solution came from $16.3 million raised in a Series B funding round in March, led by Fin VC and TTV Capital. How increased regulation presents a huge opportunity for lenders Growing and investing in relationships and communities in the long term is one of the many opportunities presented by stricter fair lending regulations. Learn more here! Presented by: iEmergentOther investors included Rotor Capital, The Mortgage Collaborative Emerging Technology Fund, Prudence Holdings, and existing investors, including Anthemis Group, Route 66 Ventures, and Sovereign's Capital. The industry veteran Sadie Gurley will lead Maxwell Capital. The executive joined the startup early this year after a career at Goldman Sachs, Fortress, and Marathon. "Our goal is to make the process better, faster, and more replicable. Also, we want to use our balance sheet because we may have more capital than some of our clients," she said. According to the executive, the company will not own the loans but sell to investors, gaining the spread in the transactions. However, as buying and selling mortgages is a capital-intensive business, Maxwell will probably need to raise more capital if the platform grows. John Paasonen, Maxwell co-founder and CEO, said in a statement that the new platform is giving local and regional lenders a financial edge to compete. "Lenders serving communities across the country face an enormous challenge in competing against the largest lenders who have the technology and the scale to generate higher margins that deliver competitive rates to borrowers," he said. The company claims it has 250 lenders and facilitated over $60 billion in loan volume last year. Also, it says that its clients close 20% more loans per month and save over 13 days to close deals compared to the market. The post Maxwell launches new secondary platform for small lenders appeared first on HousingWire.  |
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