Housing Wire

APRIL 18, 2024

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., First Federal Bank has 25 branches in the Southeast and operations in the Midwest, including mortgage centers in Jacksonville, Florida ; Alpharetta, Georgia; Madison, Wisconsin; and Overland Park , Kansas.

Banks 448

Banks Mortgages Loan Officer Loans 448

Housing Wire

FEBRUARY 19, 2025

Ill share everything you need to keep the homebuying process running smoothly from your first meeting to closing and beyond. From choosing a property to navigating the closing process, youll need to do a deep dive into their wants, needs, and deal breakers. Think of this as building a roadmap for their homebuying journey.

Closing 228

Closing Earnest money deposit Due diligence Pre-approval 228

Housing Wire

FEBRUARY 1, 2024

United Bank will consolidate its mortgage subsidiaries into one unified mortgage business amid the housing industry struggles with elevated interest rates. United Bank has been delivering mortgage services through three channels, including two mortgage subsidiaries — Crescent Mortgage Co. million in third-quarter 2023, up from $6.4

Banks 432

Banks Mortgages Closing Industrial 432

Housing Wire

NOVEMBER 15, 2023

Providence, Rhode Island-based Citizens Bank , the 28th largest U.S. mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space.

Banks 468

Banks Mortgages Finance Brokerage 468

Housing Wire

MAY 28, 2024

FDIC) this month announced a settlement with Arkansas-based Bank of England over alleged violations of the Federal Trade Commission Act, the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA) and the Home Mortgage Disclosure Act (HMDA). The bank has been issued an order to pay a civil penalty of $1.5

Banks 454

Banks Mortgages VA loan Loan Officer 454

Housing Wire

OCTOBER 25, 2024

The expectation is that NEO will close by the end of February 2025. According to Luminate, the decision reflects, among other things, its “focus on integrating mortgage lending into its core banking services to better serve clients and build long-term financial relationships.” Inside Mortgage Finance shows Luminate Bank originated $1.26

Loans 434

Loans Closing Banks Lending 434

Housing Wire

OCTOBER 8, 2024

On Tuesday, the firm announced the launch of the Qualia Bank Partner Network. The banks in the network include BankUnited , Capital Bank , Citizens , Encore Bank and Emigrant Bank. Additionally, the companies in the network will receive specialized support from a dedicated banking division.

Title 424

Title Banks Earnest money deposit Technology 424

Housing Wire

SEPTEMBER 19, 2024

Department of Justice (DOJ) announced this week that they have secured a $15 million conciliation agreement with New Jersey-based OceanFirst Bank to settle allegations of discriminatory redlining in certain neighborhoods with majority Black, Hispanic and Asian populations. which will become a new division for the regional depository bank.

Banks 443

Banks Lending Loans Loan Officer 443

Housing Wire

NOVEMBER 13, 2024

While seasonal factors may slow things down briefly, we’ll be watching closely to see how these recent dynamics affect the market in the coming year.” The report only considers homes in default, auction and real estate-owned (REO) status — i.e., those owned by a bank, government agency or another party after foreclosure.

Real-estate owned 448

Real-estate owned Mortgages Closing Banks 448

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 456

Banks Closing costs Lending Equity 456

Housing Wire

OCTOBER 17, 2024

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). FHFA Director Sandra Thompson lauded the development in a statement accompanying the report.

Banks 459

Banks Loans Development Finance 459

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

OCTOBER 31, 2024

If a consumer is in the homebuying process, the fraudster will send false wiring instructions to the homebuyer ahead of closing—often appearing as if they are from a trusted representative in the transaction. Consumers should also avoid emailing financial information, such as bank account numbers.

Title 475

Title Industrial Land Banks 475

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 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 447

Banks Brokerage Mortgages Loans 447

Housing Wire

DECEMBER 2, 2024

In August 2023 , the bank announced the launch of the program in eight major U.S. Eligible buyers can combine the bank’s down payment grant with other programs, which could result in up to $15,000 for closing costs and a down payment. The bank’s Dream. metros — Minneapolis; Philadelphia; Dallas; Washington, D.C.,

Lending 397

Lending Closing costs Banks Equity 397

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). The transaction is expected to close in May. “We Change’s membership will become effective upon its acquisition of the required $7 million capital stock in the FHLB-SF.

Lending 447

Lending Banks Loans Renovation 447

Housing Wire

JANUARY 8, 2025

On Wednesday, the Office of the Comptroller of the Currency (OCC) took protective measures by issuing a proclamation that allows national banks, federal savings associations, and federal branches and agencies of foreign banks to close their offices in areas of California affected by the fires.

Banks 418

Banks As-is Development Closing 418

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

MARCH 7, 2025

The deal, which closed on March 4, should provide Jet HomeLoans with greater secondary execution it can use to help homebuyers with affordability, an executive told HousingWire. Community bank Bank7 acquired a small Oklahoma independent mortgage bank last week.

Banks 344

Banks Title Mortgages As-is 344

Housing Wire

JANUARY 7, 2025

Bank ‘s threshold for affordable housing payments 28% of monthly income. Detroit follows close behind at 52.9% To identify the most affordable listings, NetCredit balanced local and national average household incomes against U.S. The national average income is $74,755, according to NetCredit. of available listings.

Development 418

Development Banks Closing Mortgages 418

Housing Wire

FEBRUARY 3, 2025

Company Name Company Website Markets Served Company HQ MMI mmi.io/ Loan Origination Cottonwood Heights, UT Paradatec paradatec.com/ Loan Origination, Servicing, Secondary and Closing Wilmington, DE Outamation outamation.com/ Servicing Southlake, TX Orion Lending orionlending.com/ Loan Origination Orange, CA Optimal Blue www2.optimalblue.com/

Mortgages 412

Mortgages Title Lending Loans 412

Housing Wire

FEBRUARY 8, 2025

This situation contrasts with the challenges the market faced in 2023, during the banking crisis when the Federal Reserve was still raising rates. We likely would not have seen mortgage rates at 8% that year if the spreads hadn’t worsened after the banking crisis. Last week, the 10-year yield closed at approximately 4.49%.

Mortgages 487

Mortgages Banks As-is Sales 487

Housing Wire

FEBRUARY 15, 2025

In the most recent episode of the Power House podcast, host and HousingWire President Diego Sanchez sits down with Chris Vinson, CEO of Windsor Mortgage , a division of Plains Commerce Bank. I actually sold to a bank in 2008 and had one big goal: to figure out how to reach No. This interview has been edited for length and clarity.

Technology 347

Technology Mortgages Marketing Banks 347

Housing Wire

DECEMBER 18, 2024

On Wednesdy Citi launched mortgage.com, a new platform that creates a brand-endorsed, consumer-focused channel to leverage Citi’s brand authority and encourage mortgage or refinance applications for the bank. Enter mortgage.com, which Burgard says is a learning platform to grow the banks presence in the mortgage space.

Marketing 415

Marketing Lending Branding Banks 415

Housing Wire

JANUARY 17, 2025

The terms of the deal have not been disclosed but it is expected to close by the end of March 2025. Mr. Cooper had previously acquired the assets in a deal with Flagstar Bank , which was announced in July and closed in November. Mr. Cooper did not immediately respond to HousingWire’s request for comment.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

NOVEMBER 7, 2024

Impacts to mortgage credit Banks, insurers and regulators have long acknowledged that climate risks could threaten mortgage borrowers’ creditworthiness. He couldn’t afford that house and was a week out from closing,” Thompson said. He recounted a case where a buyer received a quote of $1,300 to $1,500 per year for a home.

Design 482

Design Mortgages Lending As-is 482

Housing Wire

JANUARY 28, 2025

. … The trend over the last few years of banking financing retreating from this sector , I think it opened up a lot more opportunities for BPL lenders to be the at the forefront of the funding solution to residential developers and investment. I think [about] five years ago, banks were still extremely active in the sector.

Residential 350

Residential Lending Finance Banks 350

Housing Wire

OCTOBER 31, 2024

According to data from the Federal Reserve Bank of New York , roughly 750,000 home equity lines of credit ( HELOCs ) were issued to borrowers ages 55 or older in 2023. But FOA contends that HomeSafe Second represents a better value proposition than a traditional HELOC. “The

Mortgages 432

Mortgages Equity Loan Officer Loans 432

Housing Wire

JANUARY 8, 2025

He most recently served as head of mortgage operations at Quontic , a digital bank based in New York. Skilled in Mortgage Underwriting, Processing, Closing, Contact Centers, Management, Loan Servicing, and Financial Risk.” Farrington’s executive experience spans across several mortgage companies.

Mortgages 397

Mortgages Loans Industrial Banks 397

Housing Wire

NOVEMBER 4, 2024

Angela is the 11th-ranked agent in the state by sales volume, closing 38 sides and $29.82 For this, I turned to New Hampshire-based Cohen Closing & Title , where another cousin is the director of business development. million in volume in 2023, according to RealTrends Verified data.

Purchase and sale agreement 435

Purchase and sale agreement Inspection contingency Inspection Title 435

Housing Wire

FEBRUARY 24, 2025

In 2024, we saw a notable increase in buyer demand when mortgage rates got close to 6%. Thats when you start working with the bank. After the brief September dip in mortgage rates close to 6%, enough buyer demand was stimulated that home prices stayed elevated in the fourth quarter. Mortgage rates are a big variable here.

Sales 488

Sales Mortgages As-is Marketing 488

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

DECEMBER 12, 2024

Many national companies had already established national refi rates with some of the biggest banks and lenders and yet that left many doing what they have always done; waiting until all the noise has fully hit and then reacting. Unfortunate for most, whereas a few had prepared, most did not see the magnitude of this market anomaly!

Title 358

Title Marketing Banks Loans 358

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 sale is expected to close in the third quarter of 2024. billion; 5.7%).

Loans 467

Loans Mortgages Due diligence Banks 467

Housing Wire

OCTOBER 24, 2024

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. “There is nothing like that face to face.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

MARCH 4, 2025

While a few properties have closed, there was only one property, as of March 2, that closed escrow. Two hours ago, a second property just closed in the Palisades. Other than that, six others are in escrow, but nothing else is closed, clarified Anthony Marguleas, CEO of Amalfi Estates.

Land 228

Land Development Closing Banks 228