Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The bank was followed by Flagstar, with $11.8 billion in volume and a 12.3%

Loans 468

Loans Mortgages Due diligence Banks 468

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

OCTOBER 23, 2023

From a data lens, transactions can be broken out into three different stages: Valuation , Due Diligence , and Contract. Valuation – The valuation stage can also be considered the preliminary due diligence stage. Once an offer is accepted, the full due diligence stage commences.

Due diligence 447

Due diligence Brokerage Staging Agents 447

Housing Wire

APRIL 18, 2024

Non-QM vigilance Pamela Hamrick, president of Incenter Diligence Solutions , which provides due-diligence reviews and document management services for the mortgage industry, said that prefunding reviews are also gaining more traction in the nonqualified mortgage ( non-QM ) space.

Loans 448

Loans Due diligence Investor Technology 448

Housing Wire

JUNE 3, 2024

State regulators, investors, creditors, business partners, and the public in general conducting due diligence or research are expected to use the information available. As a result, many banks, credit unions, and mortgage companies are known to regulators, but some nonbank firms are still not licensed or registered.

Due diligence 478

Due diligence Banks Mortgages Lending 478

Housing Wire

OCTOBER 29, 2020

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: How do Trelix services help users minimize risks and perform loan due diligence?

Due diligence 435

Due diligence Mortgages Title search Loans 435

Housing Wire

APRIL 22, 2021

“Plus, we’re a due diligence state, so right now if you don’t go way over listing price and offer a substantial due diligence price, there’s no point in even submitting an offer.” ” The current average due diligence is around 3.1% Thankfully, most banks were still lending.

Due diligence 459

Due diligence Renovation Lending Land 459

Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. Wherever there is commerce, there will be fraud, and the mortgage industry is no exception.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

NOVEMBER 30, 2021

We’ve grown in excess of 100 employees already in two-and-a-half quarters, that’s underwriters,” said John Levonick, CEO of Charlotte-based Canopy , a third-party due-diligence (TPR) firm that started doing business in the second quarter of 2021. And we’re actively hiring. Are we planning to double the size of the firm every two years?

Due diligence 435

Due diligence Mortgages Loans Residential 435

Housing Wire

SEPTEMBER 6, 2022

The most straightforward method for understanding a consumer’s ability to make a mortgage payment is analyzing the funds going in and out of their bank each month. As mortgage professionals, it is our duty to support homeownership in the communities we serve with sustainable home financing opportunities.

Due diligence 476

Due diligence Banks Finance Technology 476

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? After all, while principals, investors and banks may not be clamoring to get into the title business for CRE transactions, not many title agencies do it well, and many of those only know certain markets.

Commercial 448

Commercial Brokerage Due diligence Title 448

Housing Wire

MAY 16, 2023

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. in January 2020, growing to a portfolio of over 180 community banks and credit unions. The financial terms of the transaction have not been disclosed.

Mortgages 418

Mortgages Due diligence Banks Technology 418

Housing Wire

MAY 22, 2023

Setpoint , a real estate funding platform, acquired Resolute Diligence Solutions to support proptech and single-family rental re-engagement in the market, the firm said. Setpoint is helping these firms improve operational and capital efficiency.

Due diligence 434

Due diligence Title Banks Closing 434

Housing Wire

APRIL 26, 2022

As far as a borrower is concerned, they just have a home loan, and they make a payment just like they normally would from their bank account, or they also can make it from their crypto [currency] wallet.”. In addition to crypto-mortgages, LoanSnap is a full-stack mortgage company that originates traditional mortgages as well.

Mortgages 476

Mortgages Due diligence Equity Loans 476

Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 UBS was allegedly aware of these significant problems because it had conducted extensive due diligence on the underlying loans prior to the RMBS being issued to determine whether the loans were consistent with representations that would be made to investors.

Due diligence 370

Due diligence Banks Loans Investor 370

Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., Michael Franco, CEO of SitusAMC , which provides due-diligence services to RMBS issuers, said market dynamics have played a major role in the dominance of jumbo-loan securitizations in the private-label market this year.

Loans 435

Loans Due diligence Residential Mortgages 435

Housing Wire

JUNE 15, 2023

Donatacci has extensive experience in servicing transactions and subservicing, due diligence, and M&A. The company has a client base that includes banks, credit unions, and mortgage bankers. Cenlar FSB, headquartered in Ewing, New Jersey services loans in 50 states and U.S. territories.

Investor 369

Investor Due diligence Loans Banks 369

Housing Wire

SEPTEMBER 13, 2023

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae ’s or Freddie Mac ’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes.

Due diligence 418

Due diligence Marketing Loans Mortgages 418

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. There was so much information to absorb and retain.

Due diligence 397

Due diligence Loan Officer Banks Industrial 397

Housing Wire

JANUARY 5, 2023

After its due diligence, Sprout would send a “cleared to purchase” confirmation, which is what happened with a $7,581,712 package of loans originated from January to March 2022, according to Loan America. California-based Loan America, Inc. However, Sprout failed to complete the purchase, the lender claims.

Loans 459

Loans Due diligence Loan Officer Mortgages 459

Housing Wire

JANUARY 5, 2022

SitusAMC, a leading provider of services and technology to the real estate industry, controls some 60% to 70% of the due-diligence loan-review market, according to its CEO, Michael Franco. SitusAMC CEO Michael Franco. Franco added that to get that insurance benefit, loans would require a third-party review. “We

Due diligence 418

Due diligence Marketing Loans Mortgages 418

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. Demand for existing homes — including REO assets — outpaces the available supply.

Due diligence 435

Due diligence Marketing Mortgages New Construction 435

Housing Wire

NOVEMBER 30, 2020

In his capacity as fund manager, he was responsible for deal origination, leading all due diligence activities and reporting to an Investment Committee based in Hong Kong. In addition to his venture capital experience, Selman has 15 years of investment banking experience and, more recently, spent 10 years as a tech entrepreneur. . “I

Technology 370

Technology Mortgages Due diligence Commercial 370

Housing Wire

MAY 10, 2022

In Hill’s case, he was sentenced this past January to two-and-a-half years in federal prison to be followed by three years of supervised release. The Hill case is not a common occurrence in the world of housing finance, but it is far from rare. For purchase-only loans, that ratio tightens to 1 in 90 loans. “It Million — [Tampa, Florida].

Mortgages 418

Mortgages Marketing Loans Finance 418

Housing Wire

MAY 13, 2022

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. But this future is still taking shape. Distributed Ledger Technologies are the Backbone of Blockchains.

Due diligence 371

Due diligence Technology Title Banks 371

Housing Wire

AUGUST 11, 2020

And now, thanks to these reforms, we live in an era of far greater mortgage banking controls and stability. There is a 30-point difference between white and Black homeownership rates in the U.S. Shockingly, the gap is wider than it was in 1968, when the federal government first outlawed racially based housing discrimination.

Due diligence 448

Due diligence Loans Mortgages Development 448

HomeLight

NOVEMBER 28, 2024

Do your due diligence If you’ve found a cash buyer you’re considering selling your house to, it’s important to thoroughly vet that company or individual to make sure they’re legitimate. Ask the cash buyer for proof of funds—this could be a bank statement or an official letter from the financial institution showing the account balance.

Proof of funds 111

Proof of funds Due diligence Sales Investor 111

Housing Wire

APRIL 20, 2022

Non-bank lenders that originate to sell loans will appreciate how quickly eNotes can move on and off warehouse lines and, ultimately, to investors. . — within the mortgage ecosystem. One of the common misperceptions about eVaults is that they are just for storage. But secure storage is only part of what a complete eVault offers.

Lending 395

Lending Due diligence Technology Investor 395

HomeLight

JANUARY 14, 2025

Do your due diligence Carefully evaluate cash-for-home companies before committing to any offers. Always request proof of funds, such as a bank statement, to ensure they have the financial capability to complete the transaction. Receive your offer in 24 hours and close in as few as 10 days. Available to sellers throughout Macon.

Proof of funds 95

Proof of funds Sales Due diligence Banks 95

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. bank accounts to various locations in West Africa via wire transfers. billion.

Industrial 397

Industrial Banks Title Technology 397

HomeLight

JANUARY 14, 2025

Do your due diligence Before committing to a cash-for-homes company, take the time to research thoroughly. Always request proof of funds, such as a bank statement, to verify the buyers financial capability. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses.

Proof of funds 97

Proof of funds Sales Due diligence Banks 97

Housing Wire

JANUARY 13, 2023

The third deal in motion, also backed in part by investment properties, is now undergoing due-diligence review. It is an estimated 470-loan securitization — with no value yet assigned in the due-diligence documents filed with the U.S. They include a $405.2 Approximately 36.8% Another of the planned offerings is a $485.9

Marketing 448

Marketing Investor Due diligence Loans 448

Housing Wire

JUNE 2, 2022

Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . Even though J.P. It’s very hard to hack a blockchain.”. You don’t need it.”.

Equity 418

Equity Technology Due diligence Investor 418

Housing Wire

APRIL 20, 2021

” From the Mortgage Bankers Association (MBA): “While MBA supports the ongoing development of such tools, MBA also acknowledges the need for appraisers and lenders to provide some level of oversight and due diligence to preserve the overall quality of the data referenced in future valuations.

Technology 418

Technology Lending Due diligence Industrial 418

Housing Wire

JANUARY 3, 2023

And one of the many reasons that VA loans default at a lower rate than other loan types, including conventional, is because of the required due diligence to ’protect the property,’ which then protects the homeowner. That said, modernization is a good thing as well and should never be feared.

VA loan 83

VA loan Loans HR Due diligence 83

Housing Wire

MAY 26, 2023

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. In January, a report from wire fraud prevention firm CertifID in conjunction with the U.S.

Title 397

Title Land Due diligence Sales 397

HomeLight

JANUARY 23, 2025

Do your due diligence Before moving forward with a cash sale, its important to thoroughly vet potential home-buying companies. Always request proof of funds, such as a bank statement, to confirm the buyers ability to close the deal. Receive your offer in 24 hours and close in as few as 10 days.

Proof of funds 98

Proof of funds Sales Due diligence Banks 98