Housing Wire

APRIL 26, 2021

New York Community Bank , one of New York City’s largest multifamily lenders, is set to diversify its business strategy with the acquisition of Michigan-based retail bank Flagstar Bancorp. The bank’s stock price was trading at a 26% discount to book value in late January. Flagstar closed $13.8

Banks 397

Banks Branding Commercial Loans 397

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. “In The ability for banks to provide credit to U.S.

Banks 448

Banks Commercial Loans Finance 448

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. Expected to close around Oct.

Lending 369

Lending Banks Commercial Loan Officer 369

Housing Wire

JULY 19, 2022

Stewart Title of Louisiana is expanding its support for commercial real estate transactions, through the addition of Ashley Coco as the firm’s Louisiana underwriting counsel, it announced Tuesday. Before joining Stewart, Coco was the lead attorney heading the commercial services department of Commerce Title in Baton Rouge.

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Title Commercial Land Industrial 370

Housing Wire

SEPTEMBER 15, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. A signer such as a customer closing on a loan appears before a notary on a video call and they complete, sign and notarize the document, he said.

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Closing Loans Banks Investor 505

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. They took a $1.8

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

MARCH 13, 2023

Following the collapse of Silicon Valley Bank last week, the biggest bank failure since Washington Mutual in 2008, two other American banks with significant roles in the housing industry were hit by a deposit run. California-based First Republic Bank, the 14th-largest U.S. billion loan portfolio at the end of 2022.

Banks 370

Banks Mortgages Marketing Investor 370

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). FDIC ) in March 2023, has faced a confidence crisis related to its commercial real estate portfolio. .”

Banks 493

Banks Equity Commercial Mortgages 493

Housing Wire

FEBRUARY 5, 2021

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. Last year, Built acquired lienwaivers.io , a provider of lien waiver management and payment solutions for commercial and residential construction.

Technology 329

Technology Closing Construction Commercial 329

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

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement.

Mortgages 418

Mortgages Lending Banks Commercial 418

Housing Wire

JUNE 22, 2023

To understand the profile of the loans, Nevada-based mortgage banking company Village moved its focus to the Federal Housing Administration (FHA) Streamline Refinance program in 2011, per its website. In early May, the company launched a commercial servicing division led by James DePalma and Janina Woods. “We bought $12.5

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Closing Lending Loans Commercial 369

Housing Wire

MARCH 6, 2024

The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.

Equity 433

Equity Mortgages Banks Commercial 433

Housing Wire

FEBRUARY 15, 2024

Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio. As we continue to grow our portfolio, we’ll use equity as well as debt … a lot of the banks that he works with also do commercial lending.

Loan Officer 433

Loan Officer Commercial Investor Loans 433

Housing Wire

OCTOBER 12, 2023

If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp., The funds will be to be used to pay Centier Bank and Sound Capital — which AmeriFirst used to fund the mortgages it originated. million to Centier Bank. Centier, in return, would release $1.4

Loans 435

Loans Bankruptcy Sales Commercial 435

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Commercial 370

Commercial Banks Lending Loans 370

Housing Wire

APRIL 28, 2022

First the market is shifting away from refinance transactions towards purchase and commercial transactions, which is where we have a greater market share. Second, we are the only title company that has a bank which will enable us to capitalize on higher interest rates to a greater extent than our competitors.”.

Title 397

Title Commercial Closing Loans 397

Housing Wire

MAY 24, 2021

Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.

Land 448

Land Lending Technology Banks 448

Housing Wire

APRIL 28, 2023

. “This alliance with our organization allows us to further our four decades-long work to provide economic justice, eradicate food deserts, construct desirable workplaces and affordable housing, closing the digital divide and ultimately help families leave a rich and lasting legacy for the next generation,” T.D.

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Lending Banks Commercial Development 459

Housing Wire

JUNE 1, 2021

“Integrating Surefire’s capabilities within the wider Black Knight mortgage technology ecosystem will make it possible for lender clients of all sizes to close more loans and create customers for life.” At the time of the acquisition, Black Knight said it planned to eventually offer a 100% digital closing.

Loan Officer 459

Loan Officer Loans Banks Commercial 459

Housing Wire

SEPTEMBER 24, 2024

Founded in 2016, it connects small-balance residential and commercial mortgage originators with institutional capital. Mac has over 25 years of experience in fixed income, capital markets, and investment banking in the mortgage industry,” Beacham said in a statement.

Residential 433

Residential Commercial Finance Loans 433

Housing Wire

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

Commercial 448

Commercial Residential Equity Banks 448

Housing Wire

JUNE 13, 2024

Through its analysis, CertifID found that based on the court cases analyzed, there is “no practical way to hold a bank responsible for wire fraud losses if the account holder or authorized representative initiated the transfer.” Despite governing this issue, the code does not include a mandate for account matching.

Banks 459

Banks Title Commercial As-is 459

Housing Wire

FEBRUARY 3, 2021

Pacific Western Bank , the wholly owned subsidiary of PacWest Bancorp , announced Tuesday it had acquired Civic Financial Services , a private money lender that caters to real estate investors. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market.

Banks 404

Banks Lending Investor Loans 404

Housing Wire

MARCH 14, 2022

FinCEN’s advanced notice of proposed rulemaking (ANPRM) looked at establishing more widespread recordkeeping and reporting mandates as authorized under the Bank Secrecy Act, for individuals involved in all-cash real estate transactions in both the residential and commercial real estate sectors.

Industrial 435

Industrial Title Commercial Banks 435

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. Interfirst purchased refinance leads and sent them to Woodward to close. The work was not complex, he said.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

MARCH 14, 2023

However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : inflation data, recessionary data, or something else we don’t even see coming? As of the close on Tuesday, the 10-year yield went back to 3.68%.

Mortgages 397

Mortgages Banks Commercial Loans 397

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. The investment is expected to close in the middle of 2021. Veritex is one of Texas’ largest banks, with $8.8 billion in assets at the end of 2020.

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

APRIL 9, 2024

Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan. Lenders are a mix of credit unions, commercial banks, and mortgage lending companies. billion in closed loan volume last year. UWM ended 2023 as the top U.S.

Fixed-rate mortgage 468

Fixed-rate mortgage Loans Mortgages Loan Officer 468

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” For example, bank regulators in July released a plan to increase capital requirements for residential mortgages, the Basel III Endgame rules. Banks will always serve their best clients.

Equity 417

Equity Banks Investor Residential 417

Housing Wire

SEPTEMBER 27, 2023

Maxwell acquired LenderSelect Mortgage Group from Blue Ridge Bank in May to expand its secondary market trading platform, bringing hundreds of new clients to the company’s other solutions. Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

Lending 468

Lending Loan Officer Loans Technology 468

Housing Wire

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

Industrial 448

Industrial Banks Lending Equity 448

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

Title 370

Title Mortgages Commercial Technology 370

Housing Wire

JUNE 7, 2023

” Chandler brings to the role more than 30 years of experience in commercial real estate finance, having been with M&T since 1991. She also worked as a senior Fannie Mae DUS underwriter and held various roles managing the closing and delivery for FHA and Ginnie Mae transactions.

Commercial 369

Commercial Finance Lending Construction 369

Housing Wire

NOVEMBER 21, 2022

According to FinCEN’s advanced notice of proposed rulemaking (ANPRM), these requirements looked at establishing more widespread recordkeeping and reporting mandates, as authorized under the Bank Secrecy Act, for individuals involved in all-cash real estate transactions in both the residential and commercial real estate sectors.

Title 418

Title Land Banks Commercial 418

Housing Wire

SEPTEMBER 20, 2024

Kevin Wilzbach : Without question, the growth in the use of AI and particularly GenAI has been transformational for the banking industry. Today, technologies like natural language processing and machine learning have moved from the research lab into something more tangible that commercial enterprises can take advantage of.

Lending 458

Lending Industrial Mortgages Technology 458

Housing Wire

FEBRUARY 10, 2022

In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances. He was most recently CEO of Hayden Consulting , which advises mortgage banks, commercial banks, thrifts, REITs, and private equity firms.

Loan Officer 418

Loan Officer Finance Loans Banks 418