RIS Media

JUNE 4, 2024

The commercial real estate industry is in a downturn and could wind up dragging down the financial sector with it, according to a new report from Florida Atlantic University (FAU). Due to the transition to remote work, commercial real estate holdings are falling in value. The root of the issue is the COVID-19 pandemic.

Commercial 124

Commercial Banks Industrial Finance 124

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 451

Banks Mortgages Lending Loan Officer 451

Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. Executives at First Savings Bank did not immediately respond to HousingWire’s requests for comments. The bank reported a net income of $2.3

Banks 464

Banks Mortgages Lending Loan Officer 464

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. Exiting the consumer mortgage business is expected to reduce total annual non-interest expenses by approximately $6.8

Banks 441

Banks Mortgages Lending Commercial 441

Housing Wire

MAY 1, 2023

Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank , federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. First Republic is the largest lender to collapse since the 2008 financial crisis and the second-largest bank failure in American history.

Banks 361

Banks Commercial Loans Principal 361

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The post Fifth Third Bank unveils new warehouse lending business appeared first on HousingWire.

Lending 396

Lending Banks Commercial Finance 396

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion from the Federal Home Loan Banks , $10.5 billion in Bank Term Funding Program borrowings. Pacific Western Bank reported $11.4

Banks 405

Banks Commercial Loans Investor 405

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 348

Banks Mortgages Commercial Lending 348

Housing Wire

SEPTEMBER 9, 2022

An influential banking trade group this week argued that the Federal Housing Finance Administration (FHFA) should not permit nonbank lenders and real estate investment trusts to become members of the $1 trillion Federal Home Loan Bank system. Member institutions are able to borrow money cheaply and can pass savings on to members.

Banks 457

Banks Commercial Finance Loans 457

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. For The Roscoe State Bank, Piper Sandler & Co. It funded $5.1

Lending 336

Lending Banks Commercial Loan Officer 336

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 392

Banks Finance Commercial Technology 392

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 356

Banks Mortgages Loans Loan Officer 356

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 439

Banks Commercial Loans Finance 439

RIS Media

FEBRUARY 28, 2024

A plunge in demand surrounding office spaces may negatively influence the commercial market, resulting in bank failures in pockets of the nation, an assessment made recently by Ken H. Johnson, a real estate economist in FAU’s College of Business, and Rebel A. appeared first on RISMedia.

Commercial 124

Commercial Banks Finance Marketing 124

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. in an all-stock merger valued at $2.6

Banks 397

Banks Branding Commercial Loans 397

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Banks 343

Banks Commercial Mortgages Brokerage 343

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 382

Banks Loan Officer Loans Commercial 382

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 340

Banks Mortgages Equity Loans 340

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 427

Banks Lending Mortgages Commercial 427

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.

Title 340

Title Commercial Land Industrial 340

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 366

Banks Mortgages Marketing Investor 366

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Barr said that the U.S. Barr said that the U.S.

Banks 483

Banks Commercial Residential Loans 483

Inman

MARCH 1, 2024

Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac.

Banks 182

Banks Commercial Loans Mortgages 182

Inman

MAY 15, 2024

Multiple funds told Reuters they planned to increase their credit exposure to property as banks back off from commercial real estate.

Banks 166

Banks Commercial Lending Marketing 166

Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

Banks 105

Banks Commercial Loans Technology 105

Inman

FEBRUARY 9, 2024

Regional banks are in the spotlight again as cracks begin to show in their balance sheets due to the ongoing distress in the commercial real estate sector.

Banks 161

Banks Commercial Lending Mortgages 161

Inman

JULY 29, 2024

Portfolios of foreclosed and seized office buildings, apartments and other commercial buildings hit $20.5 billion during the second quarter of 2024, the highest quarterly figure posted since 2015, according to MSCI.

Commercial 165

Commercial Marketing Short sale Banks 165

Inman

MAY 1, 2024

Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain.

Banks 147

Banks Lending Commercial Investor 147

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We

Mortgages 427

Mortgages Banks Finance Branding 427

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 491

Banks Equity Commercial Mortgages 491

Housing Wire

MAY 21, 2024

This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans. This increased interest is being led by private equity investors and insurance companies.

Residential 473

Residential Equity Mortgages Purchase and sale agreement 473

Marco Santarelli

JULY 31, 2024

For decades, commercial real estate has been the bedrock of the American economy. With over a trillion dollars in commercial real estate loans maturing in the next two years, the perfect storm is brewing, Harvard Business Review reports. A steady, reliable giant. But now, cracks are appearing in this foundation.

Commercial 64

Commercial Banks Loans Investor 64

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. All of this combined to push commercial lending to a standstill. Plus, many owners have no other option.

Lending 113

Lending Commercial Banks Construction 113

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 billion in mortgages in 2023.

Mortgages 429

Mortgages Banks Marketing Commercial 429

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.

Banks 366

Banks Commercial Lending Loans 366

Marco Santarelli

NOVEMBER 16, 2023

In a compelling presentation at the Commercial Economic Issues and Trends Forum during the 2023 NAR NXT, Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), indicated that the commercial real estate sector is poised for revitalization, calling on the Federal Reserve to consider a crucial move – cutting interest rates.

Commercial 103

Commercial Banks Lending Loans 103