Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 415

Banks Mortgages Lending Loan Officer 415

Housing Wire

MARCH 7, 2024

Powell acknowledged the mounting opposition to Basel III from the banking sector, assuring lawmakers of forthcoming broad revisions to the regulatory framework that is aimed at recalibrating risk assessment methodologies and capital reserves. banks to earmark billions more in capital reserves.

Banks 384

Banks Lending Residential Mortgages 384

Housing Wire

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates. The bank’s total mortgage origination volume reached $9.6

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. Western Alliance Bank transformed this model over a decade ago.

Banks 349

Banks Lending Finance Mortgages 349

Housing Wire

NOVEMBER 7, 2023

In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market.

Banks 435

Banks Mortgages Marketing Lending 435

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 391

Banks Lending Loan Officer Loans 391

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 399

Banks Loan Officer Lending Loans 399

Housing Wire

APRIL 15, 2024

Mortgage experts added that struggling lenders — which laid off staff, received cash infusions and were overly enthusiastic about a market recovery after two years of shrinking originations — may be forced to find other options, such as mergers and acquisitions. Last week, the U.S. in March compared to a year earlier.

As-is 449

As-is Industrial Mortgages Loans 449

Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I A spokesperson for Flagstar Bank did not respond to a request for comments on Thursday.

Banks 450

Banks Mortgages Lending Finance 450

Housing Wire

JUNE 28, 2023

United Wholesale Mortgage (UWM) announced this week that it has added four bank statement loan offerings for self-employed borrowers. To qualify for loans of up to $3 million with up to 90% loan-to-value (LTV), self-employed borrowers can now provide bank statements to verify income rather than tax returns, W2s or pay stubs.

Banks 358

Banks Loans Lending Mortgages 358

Housing Wire

APRIL 10, 2024

The FDIC supervises approximately 3,000 state-chartered banks and thrifts not members of the Federal Reserve System. However, the second part of the test revealed that these financial institutions did not develop enough compliance initiatives to determine whether the payments were reasonably related to the services’ value.

Banks 372

Banks Brokerage Mortgages Loans 372

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. The bank has presence in 15 states and Washington, D.C. TD Bank’s plan also includes $7.5

Banks 355

Banks Lending Loans Finance 355

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 338

Banks Mortgages Commercial Lending 338

Housing Wire

MARCH 16, 2023

banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” Secretary of the Treasury Janet L. Bank will contribute $1 billion each.

Banks 425

Banks Loans Closing Sales 425

Housing Wire

AUGUST 29, 2023

American Bank of Oklahoma has agreed to invest $1.5 The bank denies the allegations. The DOJ complaint, filed in federal court, claims that the bank failed to provide mortgage lending services from 2017 through at least 2021 in neighborhoods in and around Tulsa , including those that were the site of the 1921 Tulsa Race Massacre.

Banks 356

Banks Loans Lending Mortgages 356

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7% million. “The

Banks 408

Banks Mortgages Lending Commercial 408

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change’s membership will become effective upon its acquisition of the required $7 million capital stock in the FHLB-SF. The transaction is expected to close in May. “We

Lending 375

Lending Banks Loans Renovation 375

Housing Wire

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. Dickey will be responsible for growing the lender’s broker division and support its brokers and non-delegated partners, the firm said. Most of its volume comes through the correspondent channel.

Banks 375

Banks Mortgages Finance Sales 375

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023. The bank had $1.7

Banks 318

Banks Lending Finance Investor 318

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. TCB was thus left with no alternative but to file this action,” the bank concluded.

Banks 342

Banks Bankruptcy Lending Finance 342

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business.

Banks 348

Banks Mortgages Loans Loan Officer 348

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals. The survey, conducted weekly since 1990, covers 75% of all U.S.

Banks 364

Banks Mortgages Fixed-rate mortgage Loans 364

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 375

Banks Finance Commercial Technology 375

Housing Wire

FEBRUARY 21, 2024

Texas Capital Bank (TCB), a warehouse lender that is suing Ginnie Mae over loans made by TCB to now-bankrupt lender Reverse Mortgage Funding (RMF), has objected to a motion by U.S. That is because the bank is seeking targeted information related to the cancellation of liens stemming from RMF’s portfolio of reverse mortgage-backed securities.

Banks 376

Banks Staging Loans Mortgages 376

Housing Wire

JULY 18, 2023

The Federal Reserve , Federal Depository Insurance Corporation and the Office of the Comptroller of the Currency , which together regulate large depository banks, are expected to unveil the proposed changes on July 27. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Lending 360

Lending Banks Mortgages Residential 360

Housing Wire

MARCH 16, 2023

financial institutions — and resulted in the failures of Silicon Valley Bank and Signature Bank. Investors flock to safer assets amid fears brought by bank collapses, and the 10-year Treasury note fell from nearly 4% at the start of last week to 3.4% But what is there to expect ahead for the housing market? by mid-week.

Banks 381

Banks Mortgages Fixed-rate mortgage Lending 381

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. “The U.S. The extent of these effects is uncertain. A number of financial institutions in the U.S. in December.

Banks 395

Banks Lending Mortgages Commercial 395

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 371

Banks Mortgages Loan Officer Residential 371

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 381

Banks Marketing Mortgages As-is 381

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Cornerstone Capital Bank was formed following a merger between a nonbank and a traditional depository.

Banks 348

Banks Loan Officer Lending Loans 348

Housing Wire

DECEMBER 8, 2020

Bank and PNC Bank. Bank is on the hook for $29 million in credits and refunds, according to the settlement. The bank also waived approximately $43 million in fees across its mortgage servicing portfolio, including for borrowers in bankruptcy. Bank and PNC were required to pay over $74 million to the bankrupt homeowners.

Banks 401

Banks Bankruptcy Finance Mortgages 401

Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

Banks 104

Banks Commercial Loans Technology 104

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. It funded $4.2

Lending 441

Lending Banks Loan Officer Loans 441

Housing Wire

DECEMBER 9, 2022

Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank , the company confirmed on Friday. . Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. Bank wrote in a statement to HousingWire.

Banks 351

Banks Lending Finance Mortgages 351

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Banks 317

Banks Commercial Mortgages Brokerage 317

Housing Wire

FEBRUARY 8, 2024

To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved in the reverse mortgage business for the first time since the early 2010s. The whole idea is to just broaden distribution.

Banks 372

Banks Mortgages Technology Branding 372