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 447

Banks Lending Residential Staging 447

Housing Wire

SEPTEMBER 4, 2024

Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement. The firm hired Brendan Bosman, a former senior managing director and head of U.S.

Finance 445

Finance Residential Investor Lending 445

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 468

Banks Mortgages Lending Loan Officer 468

Housing Wire

SEPTEMBER 27, 2024

In a recent episode of “The Loan Officer Podcast,” host Dustin Owen and guest John Coleman explore key tips that all aspiring real estate agents should know when navigating mortgage financing for a potential client. Warrantable condos are easier to finance, while non-warrantable condos and condotels are typically harder to fund.

Finance 444

Finance Agents Mortgages Loan Officer 444

Housing Wire

AUGUST 8, 2024

Christopher George, the founder of California-based multichannel mortgage lender CMG Financial , has struck a deal to acquire Greenwoods Financial Group , the owner of Greenwoods State Bank. Greenwoods State Bank will be owned by a single individual, pending regulatory approval and board vote.” advised Greenwoods State Bank.

Banks 467

Banks Equity Mortgages Loans 467

Housing Wire

OCTOBER 25, 2024

FormFree , a mortgage fintech founded in the midst of the Global Financial Crisis by Brent Chandler, is putting the customer in control of their own data, a practice known as “open banking” that could transform lending. Lapin said FormFree operates within an open banking framework, a relative rarity in the mortgage industry.

Banks 458

Banks Mortgages Lending Industrial 458

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. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 442

Banks Lending Loans Finance 442

Housing Wire

SEPTEMBER 12, 2024

The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors. The bank will pay $7.76 Regulators will need to focus major attention on TD Bank to change its course.”

Banks 410

Banks Bankruptcy Finance Mortgages 410

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. Roughly 24 hours after filing an objection to the U.S. The Government’s motion should accordingly be denied.”

Banks 436

Banks Bankruptcy Lending Finance 436

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). Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options. The transaction is expected to close in May. “We

Lending 446

Lending Banks Loans Renovation 446

Housing Wire

APRIL 1, 2024

In exchange for providing homeowners a lump sum of cash, they receive a share of the home’s future value or future appreciation. “In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The annual investment volume in the U.S.

Equity 467

Equity Finance Purchase and sale agreement Investor 467

Housing Wire

JULY 18, 2024

” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. . Its other business partners include Regent Bank , payments platform Synctera and Visa -backed currency exchange Currencycloud.

Finance 446

Finance Investor Banks Residential 446

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. Pennymac TPO is the country’s second largest third-party originator trailing United Wholesale Mortgage (UWM), per Inside Mortgage Finance estimates. market share in the TPO space.

Banks 446

Banks Mortgages Finance Sales 446

Housing Wire

JANUARY 6, 2025

HousingWire Vanguard Sarah Gonzalez has taken on a new role at Logan Finance Corporation as chief innovation officer. Logan offers a range of non-QM products, including DSCR, AUS jumbo and bank statement loans. Gonzalez formerly served as Logan’s chief operating officer, a position she started in February 2024.

Finance 410

Finance Lending Loans Banks 410

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 478

Banks Loan Officer Lending Loans 478

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 425

Banks Bankruptcy Mortgages Lending 425

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 482

As-is Industrial Mortgages Loans 482

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

OCTOBER 31, 2024

The Federal Housing Finance Agency (FHFA) on Thursday said it will aim to simplify the process of funding affordable housing projects through the Federal Home Loan Banks (FHLBanks). The advisory bulletin came in response to comments by sponsors that have called the process too cumbersome.

Finance 340

Finance Banks Staging Loans 340

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 446

Banks Brokerage Mortgages Loans 446

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

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We experienced an inflation rate of 3.1%

Mortgages 448

Mortgages Banks Finance Branding 448

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. This system lent billions of dollars to Silicon Valley Bank , Signature Bank and First Republic Bank before these banks collapsed in 2023.

Banks 434

Banks Finance Development Loans 434

Housing Wire

JANUARY 21, 2025

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. The course is available as an elective to juniors or seniors in the university’s Monte Ahuja College of Business. It’s a true collaborative effort, Hoffman added.

Banks 370

Banks Mortgages Lending Loans 370

Housing Wire

DECEMBER 11, 2024

The material featured came from a workshop hosted by Fannie Mae and the Federal Reserve Bank of Philadelphia , which highlighted research assessing the impact of demographic shifts, including the aging U.S. population, on housing demand, according to the report. The authors analyzed 9.9

Finance 369

Finance Development Equity Banks 369

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. market share, according to Inside Mortgage Finance (IMF) estimates.

Loans 466

Loans Mortgages Due diligence Banks 466

Housing Wire

AUGUST 15, 2024

Toronto-based Bank of Nova Scotia , which operates as Scotiabank , has hired a group of JPMorgan Chase Bank executives to lead a new mortgage capital markets business that expects to launch this fall. Inside Mortgage Finance (IMF) and Bloomberg first reported on the topic. The bank was followed by Flagstar Bancorp (11.5%

Mortgages 445

Mortgages Banks Finance Lending 445

Housing Wire

MAY 21, 2024

This market stability is compelling several long-term investors, including banks and insurance companies, to increase their mortgage allocations as they reduce allocations to commercial real estate and business lending. This is resulting in new balance sheet strategies for institutional investors.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

MARCH 29, 2024

Federal Home Loan Bank reform is in the air in Washington D.C. The White House recently endorsed a plan to double FHLBanks’ mandatory contributions to affordable housing programs from 10 to 20% of their net income, following a recommendation by the Federal Housing Finance Agency. billion dollars(!) billion dollars(!)

Banks 468

Banks Loans Finance Development 468

Housing Wire

APRIL 19, 2024

But it could face challenges due to the lack of a robust securitization market, according to strategists at Bank of America (BofA). “Financing options are particularly important given the increasing share of second liens originated by non-depositories,” the strategists wrote in the report.

Equity 488

Equity Finance Loans Banks 488

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. by the fourth quarter of 2024.

Industrial 475

Industrial Fixed-rate mortgage Banks Loans 475

Housing Wire

OCTOBER 18, 2024

Some owners of older condo units have had to list at prices far below what they bought the units for because special assessments are so high (and are difficult to finance). This could result in the local community banks and credit unions providing the financing, likely with maximum loan-to-value ratios of 80% or less.”

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 billion in mortgages in 2023.

Mortgages 465

Mortgages Banks Marketing Commercial 465

Housing Wire

JULY 19, 2024

Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital. “In

Construction 459

Construction Development Loans Lending 459

Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Alongside Gallo, Mehmet Elmas was also named in the complaint, filed by a special agent working under the Office of the Inspector General (OIG) at the Federal Housing Finance Agency (FHFA).

Mortgages 543

Mortgages Loans Banks Finance 543

Housing Wire

JULY 9, 2024

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, This transition is said to build on other recent efforts by FHLBank Chicago to expand the availability of mortgage financing.

Banks 387

Banks Finance New Construction Construction 387

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. The second objection is that there are already sufficient private sector loan options for this loan product — primarily the banks and a small cohort of PLS originators.

Loans 446

Loans Mortgages Banks Lending 446