Housing Wire

FEBRUARY 14, 2024

The rapid collapse of four regional banks that began last March shocked regulators and investors alike. The banks had courted high-net-worth clients working in speculative tech and crypto startups in Silicon Valley, while also tying up a large portion of the banks’ assets in Treasury securities. By the end of Feb.

Banks 468

Banks Mortgages Commercial Residential 468

Housing Wire

FEBRUARY 4, 2025

In June 2024, it completed the $70 million acquisition of Great Ajax , transitioning the business from a legacy residential loan platform to a vehicle focused on commercial real estate. A year prior, it acquired Sculptor Capital Management , along with Computershare Mortgage Services and Specialized Loan Servicing (SLS).

Commercial 404

Commercial Residential Loans Banks 404

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 bank was followed by Flagstar, with $11.8 billion; 5.7%).

Loans 468

Loans Mortgages Due diligence Banks 468

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. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. regulators. regulators.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

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. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 448

Banks Mortgages Lending Commercial 448

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 468

Banks Mortgages Lending Loan Officer 468

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 397

Banks Commercial Loans Principal 397

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. The company secured $1.4

Banks 418

Banks Commercial Loans Investor 418

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. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. University Bank has been around for 130-plus years,” he said.

Banks 468

Banks Mortgages Lending Loan Officer 468

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. Presented by: Proctor Loan Protector.

Banks 397

Banks Branding Commercial Loans 397

Housing Wire

JULY 1, 2024

Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. As a result, cash-out refinances don’t make sense for homeowners with lower coupon loans due to what many have deemed the “lock-in effect.” billion in loans. Let’s be clear.

Loans 448

Loans Mortgages Banks Lending 448

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 397

Lending Banks Commercial Finance 397

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.

Banks 459

Banks Commercial Finance Loans 459

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

Banks 448

Banks Commercial Loans Finance 448

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Loans 435

Loans Bankruptcy Sales Commercial 435

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 370

Lending Banks Commercial Loan Officer 370

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 397

Banks Loan Officer Loans Commercial 397

Housing Wire

FEBRUARY 26, 2025

These are some of the elements that Medina Cicak, chief commercial officer for Heartland Bank in Australia , and Keira Billot, the bank’s New Zealand -based general manager of retail and reverse mortgages, discussed in an interview with HousingWire s Reverse Mortgage Daily (RMD).

Mortgages 335

Mortgages Banks Equity Development 335

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 Trade groups have opposed the new regulations.

Banks 513

Banks Commercial Residential Loans 513

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. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

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 370

Banks Mortgages Commercial Lending 370

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. The current stress in the CRE and C&I loan markets further highlights the advantages of residential mortgages.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

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 370

Banks Mortgages Equity Loans 370

Housing Wire

OCTOBER 5, 2023

Das, a former CEO of Caliber Home Loans , will begin his new role on Oct. Das spent six years as CEO of Caliber Home Loans — a NewRez -owned residential mortgage lending company — until January 2022. He has also held senior roles at Morgan Stanley , American Express and Bank of America.

Technology 435

Technology Loans Lending Residential 435

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

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 billion AUD, or roughly $1.2 billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

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 30 to $4.20

Mortgages 468

Mortgages Banks Marketing Commercial 468

Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., has sponsored 18 private-label transactions so far in 2021 backed by more than 20,000 loans valued collectively at $9.9 Also, home-price appreciation means more loans are falling into the jumbo loan category.”.

Loans 435

Loans Due diligence Residential Mortgages 435

Housing Wire

SEPTEMBER 25, 2024

Purchase loan applications saw more modest increases of 0.4% And the rate for Federal Housing Administration (FHA) loans dropped to 5.99%, “breaking the psychologically important 6% level,“ according Joel Kan, the MBA’s vice president and deputy chief economist. Rising home prices are reflected in larger loan sizes.

FHA loan 448

FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

OCTOBER 9, 2024

decline in purchase loan demand. Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2%

VA loan 458

VA loan Mortgages FHA loan Loans 458

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. It also offers multifamily loans.

Banks 441

Banks Lending Loans Investor 441

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 443

Equity Mortgages Banks Commercial 443

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 370

Banks Commercial Lending Loans 370

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 HousingWire reported on the restructuring last week, noting that the bank cut hundreds of jobs at Flagstar, according to laid off employees. million loans as of December 31, 2022.

Mortgages 418

Mortgages Lending Banks Commercial 418

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. 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.

Loan Officer 434

Loan Officer Commercial Investor Banks 434

Housing Wire

SEPTEMBER 13, 2024

Buffalo, New York-based mortgage technology firm LenderLogix , a top provider of point-of-sale (POS) and automation software for independent mortgage banks , commercial banks and third-party brokers, announced Thursday that Ben Head will join the company as an account executive.

Sales 435

Sales Mortgages Loan Officer Technology 435

Housing Wire

APRIL 17, 2024

Regional banks – which traditionally have been major residential mortgage originators – went big on commercial real estate loans as larger banks scaled back in this area in recent years. trillion in commercial real estate debt comes due over the next few years.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493