Lending

Here’s how first-time homebuyers in U.S. stack up to their Canadian neighbors

U.S. falling behind when it comes to down payments
First-time homebuyers in Canada and the U.S. both seem to be putting off buying a home amid rising home prices. However, the similarity between the two countries ends once these first-time buyers decide to make their purchase. While homebuyers in the U.S. are increasingly looking to lower down-payment options, down payment amounts in Canada reached an all-time high.
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Redwood Trust CEO: We're ready for Trump to bring private capital back to mortgages

Tells investors that REIT will be "aggressive" when time comes
During an interview with CNBC on Thursday, Steven Mnuchin, the newly minted Secretary of the Department of the Treasury, reiterated the Trump administration’s pledge to pursue reform of Fannie Mae and Freddie Mac. And if that happens, Marty Hughes, the CEO of Redwood Trust, says that the real estate investment trust will be ready and willing to step further into the market.
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Embrace Home Loans expands into Texas

Opens new office in Dallas suburb of Frisco
Recent reports from the Texas Association of Realtors and Fitch Ratings call out how hot Texas real estate right now, as more homes were sold last year than ever before. Seeking to strike while the iron is hot, Embrace Home Loans announced this week that it is expanding into Texas and opening its first office in the state.
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Ocwen SEC filing reveals details of CFPB mortgage servicing investigation

Nonbank set aside $12.5 million for potential settlement
During Ocwen’s investor call, CEO Ron Faris was asked about the company’s disclosure in its fourth-quarter earnings that it set aside $12.5 million for “potential” regulatory settlements. Faris responded by directing observers to the disclosures in the company’s upcoming 10-K filing with the SEC. Well, Ocwen filed its 10-K on Thursday, and as it turns out, that $12.5 million is for a potential settlement with the CFPB.
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Impac reports best year in more than a decade

Mortgage originations surge
Impac Mortgage Holdings locked in a record financial year on Thursday, recording adjusted operating income of $96.9 million, or $6.52 per diluted common share, for all of 2016. This is significantly up from a year ago and a big contributor to this growth was purchase originations.
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loanDepot promotes Dan Hanson to chief retail production officer

Brings more than 30 years of experience to position
loanDepot hasn’t let up on the gas since it launched into the housing finance market after the financial crisis. Now the company announced it promoted Dan Hanson to chief retail production officer, where he will be charged with fulfilling the team’s mission to become America’s lender of choice.
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Fitch: Is there a housing bubble in these hot, hot markets?

Texas is hotter than ever, but is it sustainable?
Housing in the state of Texas was hotter in 2016 than it’s ever been before, but is real estate in the Lone Star state getting too hot? A new report from Fitch Ratings suggests that Texas is one of a few states where home prices are not only unsustainable, they’re overheating.
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