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 448

Banks Lending Residential Staging 448

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7% million. “The

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

JULY 10, 2024

Highlands Residential Mortgage announced that Dan Carson recently joined the company as a senior vice president and area manager of its Park Cities branch in Dallas. PrimeLending and PNC Bank. I love the mortgage industry and I can’t wait to share that passion and drive that comes with it to the Highlands Residential Mortgage Team.“ “We

Residential 428

Residential Mortgages Banks Industrial 428

Housing Wire

NOVEMBER 16, 2021

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. Troy, Michigan-based Flagstar, a federal savings bank with some $27 billion in assets, and New York Community Bancorp (NYCB) announced plans to merge in April.

Banks 459

Banks Marketing Lending Loans 459

Housing Wire

JUNE 6, 2023

The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22. Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states.

Residential 459

Residential Construction Finance Sales 459

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. The bank has presence in 15 states and Washington, D.C. TD Bank’s plan also includes $7.5

Banks 443

Banks Lending Loans Finance 443

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

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates. The bank’s total mortgage origination volume reached $9.6

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

MAY 1, 2023

Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank , federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. First Republic is the largest lender to collapse since the 2008 financial crisis and the second-largest bank failure in American history.

Banks 396

Banks Commercial Loans Principal 396

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 448

Banks Mortgages Loan Officer Lending 448

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 397

Banks Mortgages Loan Officer Residential 397

Housing Wire

DECEMBER 21, 2022

I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision. on or about December 20, Figure said.

Banks 487

Banks Mortgages Technology Lending 487

Housing Wire

DECEMBER 12, 2022

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. Figure Technologies raised $1.6

Banks 434

Banks Mortgages Due diligence Technology 434

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks. Jumbo loans account for approximately 12% of all loans originated as of February 2022.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

JULY 18, 2023

Under the latest rumored changes to Basel III regulations , large depository institutions would see residential mortgage capital requirements that far exceed international standards, according to a report by Bloomberg. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Banks 370

Banks Lending Mortgages Residential 370

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business.

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. The DOJ also claims that the bank failed to take any meaningful measures to compensate for its lack of physical presence in majority-Black and Hispanic communities. Park National Bank didn’t respond to requests for comment.

Banks 394

Banks Lending Loans Mortgages 394

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Trade groups have opposed the new regulations.

Banks 513

Banks Commercial Residential Loans 513

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 397

Banks Loan Officer Loans Commercial 397

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. retail residential mortgage applications. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals. ” Mr.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 370

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” It is often said that the Fed raises interest rates until something breaks. In 2021, mortgage originations hit a record high of $4.4 trillion, and will fall to $1.87

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 370

Banks Lending Mortgages Equity 370

Housing Wire

APRIL 17, 2024

That includes the nation’s top homebuilders ( DR Horton and Lennar ), mortgage originators ( United Wholesale Mortgage and Rocket Mortgage ), brokerages ( Anywhere and Compass ) and residential search portals ( Zillow and CoStar , which owns Homes.com ). Some experts forecasted as many as six rate cuts in the year based on this news.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Banks also reported stronger demand for residential real estate loans over the second quarter, with significant demand for QM and non-QM jumbo mortgages.

Mortgages 493

Mortgages Lending Banks Residential 493

Housing Wire

JULY 25, 2024

Cooper Group has struck a deal to acquire a third-party origination (TPO) platform and $356 billion in mortgage servicing rights (MSRs), advances and subservicing contracts from Flagstar Bank , owned by New York Community Bancorp (NYCB). The bank recently received a $1 billion equity investment from a group led by former U.S.

Banks 493

Banks Equity Commercial Mortgages 493

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 475

Investor Mortgages Banks Principal 475

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 430

Equity Mortgages Banks Commercial 430

Housing Wire

JULY 8, 2024

Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. The bank entered into an agreement to buy $1.8 billion of single-family residential loans at a discount.

Loans 434

Loans Principal Banks Residential 434

Housing Wire

JANUARY 2, 2024

New York-based nonbank mortgage lender RealFi (formally known as Residential Home Funding Corp. Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans. The FDIC was the receiver of Washington Mutual Bank after it failed during the 2008 financial crisis. 15 and said our last check would be on Dec.

Loan Officer 459

Loan Officer Residential Banks Loans 459

Housing Wire

OCTOBER 11, 2023

PNC Bank issued pink slips to an undisclosed number of employees this week as part of its focus on controlling costs. “As PNC has a retail banking business that covers residential mortgage, corporate and institutional banking and asset management. PNC is headquartered in Pittsburgh. Of the $101.8

Residential 482

Residential Banks Equity Loans 482

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 466

Mortgages Banks Marketing Commercial 466

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. 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.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Expect independent mortgage banks to continue taking share from the large commercial depositaries, which are still shrinking their footprints in lending and servicing,” Hagen said in a report on Tuesday.

Mortgages 448

Mortgages Banks Equity Commercial 448

Housing Wire

DECEMBER 30, 2024

In the 16 years since the peak of the Global Financial Crisis, the structured products industry has transformed from a market dominated by large banks to one with space for new players. Historically, life insurance companies shied away from investing in residential mortgages. Non-QM market share grew from less than 3% of U.S.

Banks 395

Banks Due diligence Residential Investor 395

Housing Wire

JUNE 6, 2024

million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. reduction in residential lending activity compared to first-quarter 2023 and a 69.3%

Lending 492

Lending Mortgages Residential Loans 492

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 447

Finance Investor Banks Residential 447