Housing Wire

APRIL 11, 2024

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners.

Lending 332

Lending Technology Equity Loans 332

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. Rising home prices have pushed tappable home equity near its 2022 peak, but high interest rates have made homeowners reluctant to extract that wealth.

Residential 494

Residential Lending Banks Mortgages 494

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 442

Lending Banks Mortgages Loan Officer 442

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 458

Equity VA loan FHA loan Mortgages 458

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

Lending 403

Lending Banks Equity Technology 403

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents. billion.

Equity 423

Equity Purchase and sale agreement Marketing Lending 423

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. Cagney’s attempt to bring blockchain technology to mortgage lending at scale dates back to August 2021.

Lending 326

Lending Technology Pre-approval Equity 326

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. A decline in MCAI, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase in the index suggests a loosening of credit. billion in 2022 from last year’s $4.4

Lending 369

Lending Loans Equity Mortgages 369

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

Equity 408

Equity Loans Banks Title 408

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 364

Equity Lending Loans Banks 364

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Equity 486

Equity Purchase and sale agreement Loan Officer Lending 486

Housing Wire

OCTOBER 28, 2022

As the mortgage industry faces the realities of rising interest rates, savvy lenders are shifting gears towards the potential profitability of home equity lending. Paul Harris : Home equity lending can look different for many reasons. What should lenders expect when navigating these waters?

Equity 399

Equity Lending Technology Industrial 399

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 361

Equity Marketing Debt-to-income ratio Lending 361

Housing Wire

JULY 11, 2023

American homeowners currently have more tappable home equity than ever — a net $30 trillion in home equity that can be tapped right now, according to HousingWire lead analyst Logan Mohtashami. There’s more tappable equity here than any other time in history, maybe.” It’s an exciting time for home equity, for sure.”

Equity 329

Equity Lending Loans Mortgages 329

Housing Wire

JANUARY 4, 2024

While home equity can certainly be a beneficial tool for some seniors to deploy, it will not always be a definitive answer for every senior’s needs. “If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” ” Molinsky told NextAvenue.

Equity 353

Equity Renovation Lending Finance 353

Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

Lending 355

Lending Loans Equity Banks 355

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 383

Equity Marketing Fixed-rate mortgage Finance 383

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 396

Equity Loans Lending Banks 396

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 375

Lending Loan Officer Finance Loans 375

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. Responses were received from 66 domestic banks and 19 U.S.

Lending 346

Lending Banks Mortgages Loan Officer 346

Housing Wire

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”.

Lending 448

Lending Mortgages Marketing Loans 448

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. Presented by: Sutherland.

Lending 467

Lending Banks Loan Officer Loans 467

Housing Wire

MARCH 28, 2023

A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. Wells Fargo has been under fire numerous times in the past over discriminatory lending allegations. The lawsuit was filed under the Fair Housing Act by three counties in Georgia.

Lending 366

Lending Loans Banks Mortgages 366

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 394

Lending Finance Banks Equity 394

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

Equity 342

Equity Loans Lending Residential 342

Housing Wire

JUNE 13, 2023

Warehouse lending, one of the sources of liquidity to independent mortgage bankers (IMBs), usually has good yields and short term, according to industry experts. of its common equity tier 1 capital [or CET1, a key regulatory capital measure].” It forecasts the ratio to be in the “mid 80s” by the end of this year.

Banks 308

Banks Lending Finance Investor 308

Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. The post Blend launches housing equity program appeared first on HousingWire.

Equity 429

Equity Lending Banks Development 429

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

NOVEMBER 7, 2022

High mortgage rates and looming economic uncertainty caused trillions in equity to evaporate from the housing market in the third quarter of 2022, according to Black Knight ’s mortgage monitor report. Equity among mortgaged homes dropped by about $1.5 In the span of just three months, U.S. mortgage holders saw a total of $1.3

Equity 343

Equity Marketing Lending Mortgages 343

Housing Wire

MARCH 11, 2022

Current buzzwords in the mortgage industry include affordable, underserved, accessible and equity. With the increasing regulatory focus on expanding affordable lending programs, mortgage lenders need to have a plan to serve the underserved. Finding the ‘why’. Where the rubber meets the roadblock.

Lending 345

Lending Loans Mortgages Industrial 345

Housing Wire

MAY 3, 2022

Fintech and fractional home-equity lender Point has raised an additional $115 million through a Series C fundraising round led by venture capital firm WestCap. The capital will be used to accelerate Point’s growth in the $25 trillion home-equity market, according to the company’s co-founder and CEO Eddie Lim. Point raised about $30.4

Equity 441

Equity Investor Loans Residential 441

Housing Wire

APRIL 15, 2022

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020. Top depositary mortgage lender Wells Fargo & Co.

Equity 404

Equity Banks Lending Mortgages 404

Housing Wire

JUNE 26, 2023

Digital mortgage exchange and loan aggregator MAXEX announced on Monday it closed an equity investment round and partnerships to expand liquidity amid the recent market volatility. Terms of the transaction were not disclosed. ” The company also announced that it expanded its bulk- and forward-trading loan programs.

Equity 320

Equity Land Investor Loans 320

Housing Wire

AUGUST 17, 2022

Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc., million and its home-equity loan portfolio at $53.2 have agreed to pay a total of $22.9

Lending 344

Lending Banks Loans Investor 344

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The comprehensive MSP servicing system supports all areas of loan servicing for both first mortgages and home equity products.

Lending 418

Lending Bankruptcy Equity Loans 418

Housing Wire

APRIL 27, 2021

. “Along with a desire for more space and smart home technology, individuals are looking for a sense of connectedness and belonging when it comes to where they live,” said AJ Barkley, senior vice president of neighborhood lending at Bank of America. They recognize that homeownership is a way to build long-term stability.”

Equity 489

Equity Banks Lending Renovation 489

Housing Wire

SEPTEMBER 8, 2020

Most took advantage of 3% interest rates to lower monthly payments; cash-out lending comprised just 3 out of 10 refi originations in the second quarter, Black Knight found. In fact, rate locks are suggesting that we could see Q3 purchase lending break typical seasonal trends and rise by 30-40%, which would push us to a new record high.”.

Lending 497

Lending Mortgages Equity Loans 497