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 479

Banks Loan Officer Lending Loans 479

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 435

Banks Lending Loan Officer Loans 435

Housing Wire

APRIL 19, 2024

Department of Housing and Urban Development (HUD) and Ginnie Mae largely deny any allegations made against the company in the original complaint. Ultimately, Ginnie Mae is again seeking to have the bulk of the claims made by the bank dismissed, but presiding Judge Matthew Kacsmaryk of the U.S.

Banks 467

Banks Title Equity Development 467

Housing Wire

AUGUST 5, 2022

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Those agencies oversee banks, and are tasked with ensuring banks do not redline , by enforcing the Community Reinvestment Act.

Banks 448

Banks Debt-to-income ratio Lending Loans 448

Housing Wire

JUNE 17, 2024

Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas. Attorneys representing Ginnie Mae and the U.S.

Banks 447

Banks Mortgages Lending Loans 447

Housing Wire

MARCH 20, 2024

They’re a more forward-thinking broker, and there has been lots of activity with the HECM Tool, which is a software application that I developed. That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” s reverse division to transition back into a role as a reverse mortgage broker.

Development 459

Development Industrial Mortgages Loans 459

Housing Wire

APRIL 10, 2024

In its March Supervisory Highlights, the FDIC stated that many institutions have developed policies and procedures to ensure sufficient mortgage broker services are provided in order to receive compensation , which was the first of a two-part test.

Banks 447

Banks Brokerage Mortgages Loans 447

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 is a community development financial institution (CDFI) that is certified by the U.S. Change is a community development financial institution (CDFI) that is certified by the U.S.

Lending 447

Lending Banks Loans Renovation 447

Housing Wire

JULY 1, 2024

Texas Capital Bank (TCB) is seeking a new partial summary judgment in its suit against Ginnie Mae. The bank seeks to bring the attention of the matter to the court. But TCB’s lien is on the tails, which are not the same thing, the bank contends. TCB also filed a sample version of an order the judge can issue in its favor.

Banks 414

Banks Mortgages Equity Development 414

Housing Wire

JULY 11, 2024

The latest annual report from The Counselors of Real Estate highlights 10 major issues expected to impact the housing industry in 2024, but developers are painfully familiar with at least two of them: labor shortages and skyrocketing capital costs. The result is a sharp increase in labor costs, and longer construction times.

Development 434

Development Construction Finance Investor 434

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product.

Development 448

Development Loans Banks Mortgages 448

Housing Wire

JULY 11, 2024

A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. government. at the time of its 2022 bankruptcy.

Banks 427

Banks Bankruptcy Mortgages Lending 427

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 435

Banks Lending Mortgages Commercial 435

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 438

Banks Bankruptcy Lending Finance 438

Housing Wire

NOVEMBER 13, 2023

The original plan — to buy up troubled mortgage assets — was quickly abandoned in favor of actions like capital infusions for banks and the bailout of our auto companies. . $700 billion in taxpayer funds were authorized to help stabilize the economy in free fall in the wake of the Lehman bankruptcy and a mortgage market meltdown.

Banks 439

Banks Loans Bankruptcy Mortgages 439

Housing Wire

NOVEMBER 19, 2024

Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development. Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development.

Land 370

Land Development Banks Investor 370

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). The fate of the specialist when the market shifts The independent mortgage banks most of us think of when someone mentions IMBs originated as a result of the Savings and Loan Crisis of the 1980s. Today, many might feel sorry for the IMB.

Banks 418

Banks Mortgages Loans Investor 418

Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This could make the overall cost to entry — which is already low — more digestible.

Construction 488

Construction Finance Development Marketing 488

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 434

Banks Mortgages Technology Branding 434

Housing Wire

OCTOBER 24, 2024

Online real estate marketplace Auction.com released data this week showing that demand for distressed homes — including bank-owned properties and foreclosures — shrank for a second straight quarter. Foreclosure supply at auctions is now at 44% of the pre-pandemic level in first-quarter 2020, while bank-owned supply is at 37%.

Marketing 482

Marketing Banks Development Mortgages 482

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy 466

Bankruptcy Banks Development Loans 466

Housing Wire

AUGUST 29, 2024

Presidents and board chairs of the 11 Federal Home Loan Banks (FHLBanks), under pressure to pump more money into affordable housing, sent letters to the U.S. These include, among other things, providing more access to the system to Community Development Financial Institutions (CDFIs) and reducing the regulatory burden on its programs.

Banks 434

Banks Finance Development Loans 434

Housing Wire

MARCH 29, 2024

Federal Home Loan Bank reform is in the air in Washington D.C. And the Coalition for Federal Home Loan Bank Reform , a group that I chair and started as a small group of D.C. And the Coalition for Federal Home Loan Bank Reform , a group that I chair and started as a small group of D.C. billion dollars(!) billion dollars(!)

Banks 468

Banks Loans Development Finance 468

Housing Wire

JUNE 3, 2024

Mortgage subservicer Dovenmuehle Mortgage announced two promotions within its business development team this week. Anna Krogh was named senior vice president and director of business development, while Chris Torres is the new vice president of business development and manager for the Western region.

Mortgages 448

Mortgages Development Banks Technology 448

Housing Wire

OCTOBER 5, 2021

Feldman has a banking background, serving as president and CEO of the Federal Home Loan Bank of Chicago from 2008 through 2020 and prior to that as president of Continental Trust Co. — a subsidiary of Continental Bank. a subsidiary of Continental Bank. “In Presented by: Flagstar Bank.

Banks 534

Banks Development Finance Mortgages 534

Housing Wire

OCTOBER 18, 2024

The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023. It also indicated that the banks gave $134.6

Banks 418

Banks Development Finance Loans 418

Housing Wire

OCTOBER 30, 2024

A consent order signed by a Connecticut banking commissioner said that LoanSnap failed to notify the Nationwide Multistate Licensing System (NMLS) that its main address had changed. These actions include a Wells Fargo suit filed in Minnesota, where the bank sought more than $430,000 over an alleged breach of contract.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

NOVEMBER 7, 2023

On Tuesday, the Federal Housing Finance Agency (FHFA) released a report that examines the Federal Home Loan Bank (FHLBank) system, looking back at its 90-year legacy and offering a series of transformative goals the agency hopes to reach before its centennial in 2032.

Banks 427

Banks Finance Development Loans 427

Housing Wire

MARCH 11, 2024

Lorraine is a powerhouse in the Manhattan luxury scene, boasting almost two decades of expertise and Kathy is synonymous with excellence and her extensive knowledge of Manhattan luxury and new developments across the city makes her an unstoppable force,” Kevelyn Guzman, regional vice president of Coldwell Banker Warburg, said in a statement.

Development 458

Development Brokerage Banks Agents 458

Housing Wire

JUNE 25, 2024

Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. He comes to Change Lending after a stint as president of real estate at Texas Capital Bank. In March, Change Lending announced its membership with the Federal Home Loan Bank of San Francisco.

Lending 384

Lending Banks Renovation Loans 384

Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place.

Mortgages 459

Mortgages Banks Title Lending 459

Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 448

Mortgages Loan Officer Loans Banks 448

Housing Wire

JANUARY 7, 2025

Bank ‘s threshold for affordable housing payments 28% of monthly income. Ohio is projected to experience statewide population declines in 74 of 88 counties over the next 25 years, according to the Ohio Department of Development. NetCredit’s released an analysis this week of the 100 most populous cities in the U.S.

Development 418

Development Banks Closing Mortgages 418

Housing Wire

JUNE 17, 2024

Before joining the company, she worked for Bank of America , JPMorgan Chase and Compass Bank. Based in the Phoenix-area operations hub, Abarca will join the company’s executive committee. Abarca joined loanDepot as an underwriter in 2013 and became vice president of lending operations in 2021.

Lending 447

Lending Mortgages Banks Closing 447

Housing Wire

JUNE 14, 2024

These market developments underscore the reality we must face: Playing the interest rate waiting game is not a viable strategy. These market developments underscore the reality we must face: Playing the interest rate waiting game is not a viable strategy. Housing sales have slowed due to waning supply and record-high prices.

Loans 448

Loans Banks Equity Development 448

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. So, for me, the HECM is the go-to product.

Mortgages 434

Mortgages Banks Equity Land 434

Housing Wire

APRIL 18, 2024

In a newly released trends report, FinCEN highlighted more than $27 billion worth of “suspicious activity” across more than 155,000 filings of Bank Secrecy Act (BSA) data with FinCEN between June 15, 2022 and June 15, 2023. Department of the Treasury , is sounding the alarm over challenges faced by elder financial exploitation (EFE).

Banks 476

Banks Development Mortgages As-is 476