Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees.

Closing costs 482

Closing costs Closing VA loan Banks 482

Housing Wire

DECEMBER 2, 2024

“We are expanding the availability of our Homebuyer Access grant program to additional areas to expand opportunities for low-to-moderate income homebuyers,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. In August 2023 , the bank announced the launch of the program in eight major U.S. The bank’s Dream.

Lending 397

Lending Closing costs Banks Equity 397

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. To that end, the GSEs will accept alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

Lending 540

Lending Loans Inspection Finance 540

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Tammy is stepping in with Kind Lending to handle some of their strategic initiatives and she is partnering with them to help grow their vision.

Lending 417

Lending Banks Loan Officer Loans 417

Housing Wire

JUNE 17, 2024

loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. Abarca will lead loanDepot’s loan processing, underwriting and closing operations, which in the first quarter of 2024 were responsible for closing $4.6

Lending 448

Lending Mortgages Banks Closing 448

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 417

Marketing Lending Branding Banks 417

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Mortgage holders, on average, now have close to $200,000 of available equity in their homes, making home equity options an attractive alternative.

Lending 475

Lending Equity Banks Loans 475

Housing Wire

APRIL 30, 2024

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. FHFA explained some of the actions it has taken to address housing inequality.

Lending 458

Lending Finance Closing costs Closing 458

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. 16 in the most recent rankings.

Equity 488

Equity Lending Loans Banks 488

Housing Wire

JANUARY 17, 2025

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. The terms of the deal have not been disclosed but it is expected to close by the end of March 2025.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

APRIL 18, 2024

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., expanding its mortgage retail lending footprint in the communities in which it operates. Last year, the community bank originated about $435 million in mortgage volume, per mortgage data platform Modex.

Banks 448

Banks Mortgages Loan Officer Loans 448

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

Banks 446

Banks Lending Loans Loan Officer 446

Housing Wire

FEBRUARY 3, 2025

More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending. These companies are at the forefront of solving the biggest challenges mortgage professionals face every day.

Mortgages 416

Mortgages Title Lending Loans 416

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.”

Loans 435

Loans Closing Banks Lending 435

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. I’ve been around it now for close to 25 years. The home equity loans balance was $24.7

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Each LO is closing 12 loans per month with an eventual goal of 15 to 20.

Lending 459

Lending Brokerage Loan Officer Loans 459

Housing Wire

OCTOBER 31, 2024

Product comparisons In its announcement of the new rate and additional states, FOA said that its optimistic outlook for the product is fueled by the increased activity in the home equity lending space. But FOA contends that HomeSafe Second represents a better value proposition than a traditional HELOC.

Mortgages 434

Mortgages Equity Loan Officer Loans 434

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

SEPTEMBER 20, 2024

If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.

Lending 459

Lending Industrial Mortgages Technology 459

Housing Wire

SEPTEMBER 27, 2023

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed.

Lending 468

Lending Loan Officer Loans Technology 468

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”. Wells Fargo to expand SPCP.

Closing 501

Closing Lending Banks Equity 501

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 458

Banks Closing costs Lending Equity 458

Housing Wire

FEBRUARY 27, 2025

How can today’s mortgage lending market be summed up in one word? In the modern mortgage market , mortgage rates are close to 7%, and the gig economy has pushed some borrowers away from trying to qualify for conventional mortgages. Acra Lending has done precisely that. For them, the word would likely be “flowing.”

Lending 270

Lending Technology Loans Mortgages 270

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 418

Lending Loans Pre-approval Loan Officer 418

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

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. The conversation covers Windsor’s growth and success in recent years, including its focus on wholesale lending , technology and coaching.

Technology 359

Technology Mortgages Marketing Banks 359

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

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 370

Lending Banks Loans Mortgages 370

Housing Wire

FEBRUARY 2, 2023

Dallas-based mortgage servicing software provider OrangeGrid announced on Thursday that Flagstar Bank has implemented its mortgage servicing software to “manage its loss mitigation processes and enhance internal efficiencies.” billion last December.

Banks 83

Banks Mortgages Loans Lending 83

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 448

Banks Mortgages Lending Loans 448

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. Touchless Lending provides straight-through mortgage processing and automated underwriting as part of the end-to-end mortgage manufacturing pipeline.

Lending 396

Lending Banks Loan Officer Loans 396

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. The funding timeline of five business days assumes closing the loan with Figure’s remote online notary, Figure said.

Lending 370

Lending Technology Pre-approval Equity 370

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

AUGUST 5, 2022

Not only would the homeowner incur closing costs, but in most cases, the borrower would also have to stomach a higher rate on the existing mortgage balance. Alternatively, a HELOC can often be originated with no fees or closing costs, and importantly, with no impact to the rate on the existing first mortgage balance.

Equity 448

Equity Lending Closing costs Mortgages 448

Housing Wire

MAY 26, 2022

Freddie Mac will now automatically verify borrower employment 10 days ahead of closing, which it says is more efficient than obtaining that information through oral or written verification. It’s the latest move from the government sponsored enterprise that seeks to streamline the closing process.

Closing 435

Closing Pre-approval Lending Banks 435

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

OCTOBER 23, 2023

Click n’ Close , a mortgage lender mostly active in the wholesale and correspondent channels, appointed Kara Lamphere to the role of chief operating officer (COO). Prior to joining Click n’ Close, Lamphere was COO at InterLinc Mortgage. Formerly known as Mid America Mortgage, the company changed its name to Click n’ Close in June 2022.

Closing 432

Closing Lending Banks Technology 432