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Cambridge Wilkinson to launch $100M private lending platform

Housing Wire

Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private real estate lending platform specializing in short-term bridge , fix-and-flip, construction and land development loans.

Lending 300
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Which cities have the largest portion of homes affordable to the average wage earner?

Housing Wire

Bank ‘s threshold for affordable housing payments 28% of monthly income. Detroit follows close behind at 52.9% Ohio is projected to experience statewide population declines in 74 of 88 counties over the next 25 years, according to the Ohio Department of Development. of available listings.

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FHFA says Federal Home Loan Banks have offered more support to affordable housing efforts

Housing Wire

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
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Regions Bank places $1B bet on home renovation market

Housing Wire

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. The space remains dominated by depository banks. billion in volume in 2020.

Banks 448
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FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

In its March Supervisory Highlights, the FDIC stated that many institutions have developed policies and procedures to ensure sufficient mortgage broker services are provided in order to receive compensation , which was the first of a two-part test. Violations identified vary across different stages of the loan process.

Banks 448
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OceanFirst Bank will pay $15M to resolve redlining allegations

Housing Wire

Department of Housing and Urban Development (HUD) and the U.S. 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.

Banks 447
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Dunmor CEO Franck Ruimy on Newfi partnership and the residential investment lending sector

Housing Wire

. … 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.