Sam Garcia

CEO of Home Equity Lending News, a second mortgage news publication, and a seasoned mortgage news executive/entrepreneur. Drummer, dad, husband, son and friend.

[Sam Garcia @GoldenStateSam]

Facing declining income because of high rates, traditional home lenders — who are losing more than $2,000 for each loan they make — are exploring opportunities in the home-equity market. There are three distinct product types for them to consider.
https://t.co/whyxipz8Og

[Sam Garcia @GoldenStateSam]

Figure reported $6 bil in lifetime HELOC originations, a doubling of its HELOC volume, and addition of CMG Financial, CrossCountry Mortgage, LLC, Fairway Independent Mortgage Corporation & The Loan Store, Inc. as private-label HELOC clients.
https://t.co/N6bQRnBsh5

[Sam Garcia @GoldenStateSam]

House Numbers, which uses AI to help homeowners ID best of 5 methods to extract home equity, announced a $3.5 mil round of pre-seed funding led by Resolute Ventures. A Resolute Ventures partner said House Numbers team taking a unique approach.
https://t.co/VlS5kfRz0h

[Sam Garcia @GoldenStateSam]

FIGURE LENDING LLC joined an elite group of lenders including Citizens, Rocket Mortgage and U.S. Bank that excel in home-equity SEO. Credit unions fell off the ranking.
https://t.co/Xj95ecS6sb

[Sam Garcia @GoldenStateSam]

HELOC originations during May were the highest in six months, according to data reported by ATTOM.
https://t.co/toGu9SHNeg

[Sam Garcia @GoldenStateSam]

Q2 home-equity securitizations soared to $1.3 bil from just $0.4 bil 3 months earlier. Weighted-average gross coupon of this year's home-equity issuance sits well above 10%. Originators on Q2 issuance included Figure, loanDepot, Rocket, Spring EQ & UWM.
https://t.co/loNjDBV7N7

[Sam Garcia @GoldenStateSam]

Achieve secured $50 mil HELOC warehouse line from Silicon Valley Bank. Achieve' CFO said, “Through our continued strong relationship with SVB, we look forward to being able to serve more everyday people with our differentiated HELOC program."
https://t.co/OXOJTvFiBC

[Sam Garcia @GoldenStateSam]

The Loan Store launched automated wholesale HELOC. TLS' CEO said HELOC "will enable our broker partners to get in front of more borrowers by providing a HELOC opportunity that is more convenient than a traditional HELOC."
https://t.co/pYOqZFecqj

[Sam Garcia @GoldenStateSam]

JPMMT 2023-HE1, an upcoming $186 million HELOC RMBS, includes loans originated by United Wholesale Mortgage, loanDepot, Spring EQ and Georgia Banking Company.
https://t.co/xs4Ckm2C29

[Sam Garcia @GoldenStateSam]

RenoFi announced agreement with TruStage that will make its renovation lending platform available to credit unions across the US. TruStage Ventures' managing director noted, "RenoFi is blazing a trail for credit unions."
https://t.co/GEWtYG5iHy

[Sam Garcia @GoldenStateSam]

Figure unveiled wholesale HELOC. Figure's head of lending noted its built-in digital origination process gives originators faster time to market with less upfront hassle, enabling them to quickly capitalize on the current rate environment.
https://t.co/TQb3amofB9

[Sam Garcia @GoldenStateSam]

WFG Chair Patrick Stone sees good rest of 2023 for home-equity lending despite recent slowing. He thinks 2nd mortgages have shot at going fully digital sooner than 1st liens. Stone is far more optimistic about U.S. economy than what he reads in the media.
https://t.co/GjzUr33v69

[Sam Garcia @GoldenStateSam]

new study from Home Equity Lending News reveals the current state of home-equity lending and capital markets, identifies the players, and peers into the future of junior-lien lending. https://t.co/kfMmovAY1M

[Sam Garcia @GoldenStateSam]

@alyankovic how about a song about Putin to the tune of Insane in the Brain?
'Insane in the Ukraine
Insane in the Kraine ...'

'Got no brain, half insane'
Peace

[Sam Garcia @GoldenStateSam]

@AskFrontier IT'S DAY TWO OF NO INTERNET SERVICE. ETA? Sam Garcia & Co

[Sam Garcia @GoldenStateSam]

"In 2013, non-banks made up 30 percent of all the mortgages sold to one of the government guarantee programs. By February of this year, that footprint had doubled to 60 percent," FHFA Director Dr. Mark Calabria at Ginnie Summit https://t.co/pkc0tnzm1i

[Sam Garcia @GoldenStateSam]

Here's a story I wrote about rates for @mortgage_media https://t.co/jk76D28Wwq

[Sam Garcia @GoldenStateSam]

@amygamerman as you likely read in FHA bulletin, approvals have tightened as credit scores down & DTIs up. Will you do story about how VA growing as FHA tightens? I can put you in touch with No. 9 VA lender. [email protected] 214.762.4457

[Sam Garcia @GoldenStateSam]

@LizAlterman , before Josh Potts was Realtor, he was Marine & now uses military exper & OpHome to help other vets buy. Would u interview him for story re how helping active & vet military members is rewarding personally & professionally? [email protected] 2147624457

[Sam Garcia @GoldenStateSam]

@ARiquier , before Josh Potts was Realtor, he was Marine & now uses military exp & OpHome to help other vets buy. Would u interview him for story re how helping military members & fellow vets is rewarding personally & professionally? [email protected] 2147624457