Housing Wire

OCTOBER 16, 2024

Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank , has been reappointed to a new three-year term as a member of the U.S. Prospective borrowers are required to attend a HECM counseling session with a HUD-certified counselor prior to closing their reverse mortgage.

Industrial 431

Industrial Banks Lending Equity 431

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. Kevin Wilzbach: While the industry awaits relief in the form of interest rate reductions, there’s no quick fix to the associated high costs of housing in the near term.

Lending 457

Lending Industrial Mortgages Technology 457

Housing Wire

NOVEMBER 16, 2022

trillion in volume, according to industry forecasters. But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. With such a drastic downturn, the pressure for industry consolidation increases dramatically. trillion to $1.7

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

SEPTEMBER 2, 2022

In addition, the ETF invests in MBS backed by loan pools sourced from non-traditional loan originators, including Community Development Financial Institutions and minority-owned banks. The OWNS ETF is still small by industry standards and struggling to grow and improve returns. million shares outstanding at a market price of $17.80

Closing 482

Closing Marketing Investor Banks 482

Housing Wire

MARCH 18, 2022

Since H4P volume is only a small fraction of the total business done in the reverse mortgage industry based on 2021 data , Mangus sat down with RMD to discuss his approach in successfully cultivating H4P business. I closed 28 H4P transactions last year, over 1% of the national total. 1% of the national HECM for Purchase total.

Loans 523

Loans Closing Mortgages Equity 523

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021. Time to eat the minnows?

Banks 418

Banks Mortgages Loans Equity 418

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected.

As-is 482

As-is Industrial Mortgages Loans 482

Housing Wire

SEPTEMBER 25, 2024

However, the industry is approaching this cycle with caution. loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. The number of loans closed per production employee rose to 2.2 in Q2 2023.

Industrial 459

Industrial Mortgages Loan Officer Loans 459

Housing Wire

JULY 19, 2022

We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. Trust Index has declined 10 points since 2017, and the majority of Americans do not trust the central bank. We partnered with HousingWire to release a few excerpts from the report.

Industrial 448

Industrial Mortgages Loan Officer Technology 448

Housing Wire

DECEMBER 9, 2022

With only three weeks until 2023 arrives, housing industry executives are adjusting their operations to face what is expected to be another challenging year. . Against the backdrop of this challenging economic and housing environment, companies in the housing industry continued to restructure and cut workforce to better position themselves.

Industrial 416

Industrial Residential Mortgages Investor 416

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Fannie Mae and Freddie Mac have had affordable lending goals for years, but the impact of closing the minority homeownership gap has not been that significant.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

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

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 397

Industrial Banks Loans Design 397

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.

Industrial 332

Industrial Mortgages Technology Loan Officer 332

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 466

Loans Mortgages Due diligence Banks 466

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. The illicit proceeds from the closing-fund thefts were then quickly moved from the U.S.

Industrial 397

Industrial Banks Title Technology 397

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. Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC.

Closing 368

Closing Lending Loans Commercial 368

Housing Wire

OCTOBER 31, 2024

With October being Cybersecurity Awareness Month, it is important that the real estate industry and consumers speak up and spread the word about how to prevent these real estate cybercrimes. Consumers should also avoid emailing financial information, such as bank account numbers.

Title 475

Title Industrial Land Banks 475

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy 465

Bankruptcy Banks Development Loans 465

Housing Wire

JULY 12, 2024

The latest 2023 Home Mortgage Disclosure Act (HMDA) data is in, and it confirms a few key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating in the market. million were closed-end (e.g., million were closed-end (e.g.,

Marketing 452

Marketing Lending Banks Loans 452

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 417

Mortgages Lending Banks Commercial 417

Housing Wire

MARCH 3, 2024

Given record exposure to first-time homebuyer loans, it’ll be worth watching the performance of this cohort very closely moving forward, particularly for those invested in 2023 agency MBS,” said Walden. Mortgage rates have averaged close to the 7% mark as of Feb. 29 following a series of positive economic data.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

JUNE 17, 2024

Abarca will lead loanDepot’s loan processing, underwriting and closing operations, which in the first quarter of 2024 were responsible for closing $4.6 Before joining the company, she worked for Bank of America , JPMorgan Chase and Compass Bank. billion in mortgages, down from $5.3 billion in the previous quarter.

Lending 446

Lending Mortgages Banks Closing 446

Housing Wire

JULY 18, 2024

Cooper and First Horizon Bank , as its new chief financial officer. That’s the exact space in the mortgage industry that the company wants to target with its software platform, Dara , which was launched in February. The hiring coincided with the departure of the company’s chief technology officer, Uday Devalla.

Banks 463

Banks Technology Lending Mortgages 463

Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place.

Mortgages 458

Mortgages Banks Title Lending 458

Housing Wire

OCTOBER 16, 2023

The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. In terms of units, the MBA expects about 5.2 and reach 5.5%

Mortgages 508

Mortgages Marketing Banks Industrial 508

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. Interfirst purchased refinance leads and sent them to Woodward to close. “When I began with Interfirst, it was all refis.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. Once the transaction is closed, which is expected on Aug.

Principal 482

Principal Investor Banks Mortgages 482

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 ” The lender closed on October 13, 2023, amid a challenging mortgage market. million), investor Freddie Mac ($3.4

Bankruptcy 439

Bankruptcy Banks Investor Principal 439

Housing Wire

SEPTEMBER 11, 2023

The Mortgage Bankers Association (MBA) presented its annual Ken Markison Legacy Achievement award to Michael Eising, a vice president and mortgage compliance manager at Merchants Bank of Indiana. He also championed educational content in the industry; he wrote for Mortgageeducation.com for almost seven years.

Banks 418

Banks Mortgages Development Industrial 418

Housing Wire

APRIL 24, 2023

Despite efforts by some in the housing industry, the minority homeownership gap has barely improved in the last 30 years. The Blueprint was successful in creating more awareness about the challenges in minority homeownership, and it rallied the industry around its goals, but it didn’t have any money behind it. The overall U.S.

Closing 396

Closing New Construction Loans Equity 396

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

SEPTEMBER 9, 2024

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. We’re also looking at identifying ways to jumpstart competition in certain closing cost categories, which can also help spur more activity.

Mortgages 476

Mortgages Closing costs Title Technology 476

Housing Wire

SEPTEMBER 5, 2024

The acquisition formally closed on Aug. HomeStar — founded in 2002 as a local mortgage bank in Georgia — offers conventional, government and jumbo purchase loans, as well as refinances, reverse mortgages and a doctor/medical professional mortgage program. Mortgage lender and servicer OCMBC has acquired HomeStar Financial Corp.

Banks 451

Banks Mortgages Loans Industrial 451

Housing Wire

MAY 1, 2023

The SSO tool is part of meeting the industry demands of ensuring an optimized process from the intake of the application to clear to close and beyond, the company said. The company believes that by applying technology to market challenges, they give local lenders powerful tools to remain competitive even as the industry evolves.

Loan Officer 416

Loan Officer Mortgages Technology Loans 416

Housing Wire

JUNE 21, 2024

It was a big week on the cybersecurity front as remote online notarization (RON) firm Proof —formerly Notarize — and digital closing platform Qualia each launched new security features aimed at fraud prevention. Wire fraud poses an enormous financial threat to the industry, and it happens every day.

Design 445

Design Title Banks Closing 445

Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. .”

Mortgages 448

Mortgages Loan Officer Loans Banks 448