Housing Wire

APRIL 12, 2024

In the first quarter of 2024, the big banks showed a challenging reality for originations. The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. Retail volume came in at $4.4

Mortgages 416

Mortgages Banks Fixed-rate mortgage Lending 416

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible.

Mortgages 385

Mortgages Banks Equity Land 385

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower.

Marketing 375

Marketing Principal Banks Loans 375

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 410

Bankruptcy Banks Pre-approval Principal 410

Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024.

Industrial 441

Industrial Mortgages Banks Principal 441

Housing Wire

MARCH 19, 2024

Prior to joining Rithm, he held executive positions at Bank of America Merrill Lynch , J.P. He led the company during the tumultuous acquisition of Sculptor Capital Management in 2023, bringing in $34 billion in assets under management. It also included reduced compensation for loan officers, sources told HousingWire in February.

Equity 353

Equity Loan Officer Principal Loans 353

Housing Wire

FEBRUARY 9, 2024

Night and day’ difference When posed with the simple question about how business is going so far this year, David Heilman — principal for HomeGrown Financial in Mount Pleasant, South Carolina — characterized the difference between early 2024 business and the same time last year as “night and day.” “I

Mortgages 415

Mortgages Principal Loans Loan Officer 415

Housing Wire

JULY 12, 2023

BlackFin Group announced on Wednesday the appointment of Christopher Call as the principal consultant on the BlackFin Group Professional Services team. Founded in 2019, BlackFin Group is a management consulting firm specializing in strategic guidance, operational expertise, and innovative solutions for the banking and mortgage industries.

Principal 299

Principal Technology Banks Mortgages 299

Housing Wire

APRIL 26, 2023

million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Despite the reduction in the unpaid principal balance in the first quarter of 2023, Mr. Cooper won deals that will include $57 billion in MSRs in the next few months, the executive said.

Principal 363

Principal Banks Equity Loans 363

Housing Wire

JUNE 28, 2023

. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 373

Industrial Mortgages Principal Loans 373

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

Industrial 400

Industrial Mortgages Purchase and sale agreement Banks 400

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity. .”

Principal 86

Principal Development Brokerage Residential 86

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 376

Mortgages Marketing Banks Investor 376

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 389

Sales Mortgages Principal Equity 389

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 439

Principal Loans Banks Mortgages 439

Housing Wire

SEPTEMBER 16, 2022

In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”. Through four offerings to date, Fannie Mae has brought to market 31,780 reperforming loans valued at $5.4

Sales 417

Sales Principal Loans Banks 417

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 446

Principal Loans Investor Industrial 446

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 334

Mortgages Banks Marketing Residential 334

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change accused Levine of committing fraud and breaching his contract with the firm to advance his scheme to extort Change and its principals for over $10 million.

Lending 398

Lending Principal Finance Loans 398

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank.

Banks 402

Banks Principal Finance Equity 402

Housing Wire

AUGUST 4, 2022

The loan must be secured by a principal residence. For banks, there is a potential incentive for making targeted programs. That’s despite a February report by the Urban Institute which found that nonbanks made a greater share of their owner-occupant home purchase mortgage loans to borrowers of color than banks.

Principal 508

Principal Loans Banks Closing costs 508

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. In servicing, Pennymac delivered a pretax income of $101.2 million in Q3 2023, up from $46.5 million in Q2 2023.

Fixed-rate mortgage 411

Fixed-rate mortgage Principal Banks Loans 411

Housing Wire

APRIL 8, 2022

Before joining Deephaven, Heitzmann was principal at LGH Consulting. She also held executive roles at Xome , Wells Fargo , Bank of America and IndyMac Bank. Presented by: Angel Oak. The company recently added Lisa Heitzmann as chief operating officer.

Sales 375

Sales Lending Principal Banks 375

Housing Wire

APRIL 3, 2023

Reaction to bank failures According to the Black Knight report, as of the week ending on March 18, purchase lock counts were 21% lower compared to the same week in 2019 — and 30% below the levels for the same week in 2018. On the bright side, homeowners with mortgages still had $9.3 Meanwhile, refinance volumes remained low at 12.5%

Principal 417

Principal Banks Mortgages Equity 417

Housing Wire

MARCH 6, 2024

Low issuance is caused by higher interest rates, resulting in lower Principal Limit Factors (PLFs), combined with the high upfront Mortgage Insurance Premium (MIP),” Kelly explained. The big banks had just left and new lenders were gearing up: American Advisors Group (AAG), RMF and others.

Mortgages 392

Mortgages Seller concession Principal Loans 392

Housing Wire

FEBRUARY 13, 2023

In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. among others. Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. million security backed by non-QM mortgages.

Mortgages 332

Mortgages Principal Banks Equity 332

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 454

Banks Lending Loans Principal 454

Housing Wire

FEBRUARY 2, 2023

Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. Therefore, its results portend a challenging quarter for the non-bank mortgage sector,” Kornfeld said.

Marketing 301

Marketing Banks Principal Loans 301

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 418

Lending Bankruptcy Mortgages Principal 418

RIS Media

DECEMBER 6, 2020

Federal Housing Finance Agency (FHFA) Director Mark Calabria issued a statement at the Financial Stability Oversight Council Principals meeting. In response, we instituted a four-month limit on servicers’ obligations to advance principal and interest payments on loans in forbearance. Source: FHFA.

Principal 60

Principal Finance Banks Loans 60

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 369

Principal Banks Mortgages Loans 369

Housing Wire

JULY 27, 2023

billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Throughout the quarter, Pennymac increased the number of approved correspondent seller relationships to 800, attracting sellers who had connections with commercial banks that pulled back from or recently exited the channel. million in Q2 2023, down from $57.4

Banks 289

Banks Principal Loans Commercial 289

Housing Wire

JUNE 3, 2022

Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2 Key to EBO offerings is the fact that the FHA guarantees 100% of the principal balance on the loans it insures. Its servicing portfolio for all-agency loans based on unpaid principal balance stood at $374.8

Loans 390

Loans FHA loan Principal Marketing 390

Housing Wire

MARCH 23, 2022

We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. REMICs are tax exempt under federal law, although the income earned by investors is taxable. “We

Banks 378

Banks Bankruptcy Loans Investor 378

Housing Wire

FEBRUARY 15, 2023

The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions. In January 2022, Sam Ryder, principal at LLR Partners, cited the companies’ solutions products as the reason for the capital investment.

Sales 342

Sales Mortgages Loans Loan Officer 342

Housing Wire

OCTOBER 8, 2021

Morgan , the investment bank side of New York-based banking holding company J.P. Morgan Chase & Co. Morgan, through its private label conduit, J.P.

Principal 305

Principal Banks Loans Residential 305

Housing Wire

DECEMBER 15, 2021

According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal. Some banks, lenders, and fintechs are testing the technology, but the lack of regulatory clarity and fears of volatility have kept these currencies from becoming fully integrated into products and services. .

Mortgages 448

Mortgages Lending Banks Investor 448