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 million as of December 31, 2022, a 13.7% million. “The

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

DECEMBER 3, 2024

Visentini recently served as the investment bank’s head of firm strategy for execution and innovation. “Sid has deep expertise in driving commercial value through improved efficiency and strategic integration, and I am delighted that he is bringing those skills to Pretium.”

Banks 370

Banks Commercial Residential Construction 370

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. Pacific Western Bank reported $11.4

Banks 418

Banks Commercial Loans Investor 418

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 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 513

Banks Commercial Residential Loans 513

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

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

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 370

Banks Mortgages Loans Loan Officer 370

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

APRIL 17, 2024

That includes the nation’s top homebuilders ( DR Horton and Lennar ), mortgage originators ( United Wholesale Mortgage and Rocket Mortgage ), brokerages ( Anywhere and Compass ) and residential search portals ( Zillow and CoStar , which owns Homes.com ). trillion in commercial real estate debt comes due over the next few years.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

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 493

Banks Equity Commercial Mortgages 493

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 443

Equity Mortgages Banks Commercial 443

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. New York Community Bancorp, Inc. billion in volume.

Mortgages 418

Mortgages Lending Banks Commercial 418

Housing Wire

SEPTEMBER 24, 2024

Toorak Capital Partners is a leading provider of business-purpose mortgages backed by residential, multifamily and mixed-used properties. Founded in 2016, it connects small-balance residential and commercial mortgage originators with institutional capital. He will report to John Beacham , CEO of Roemanu and Toorak.

Residential 434

Residential Commercial Finance Loans 434

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 370

Mortgages Banks Residential Equity 370

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 468

Mortgages Banks Marketing Commercial 468

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Expect independent mortgage banks to continue taking share from the large commercial depositaries, which are still shrinking their footprints in lending and servicing,” Hagen said in a report on Tuesday.

Mortgages 448

Mortgages Banks Equity Commercial 448

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.

Commercial 370

Commercial Banks Lending Loans 370

Housing Wire

MAY 30, 2024

Coldwell Banker Realty , a New England-based residential real estate brokerage , welcomed The DelRose McShane Team , the brokerage announced on Wednesday. His expertise spans condominium conversion and development, residential sales, buyer representation and commercial transactions. Led by Mike DelRose Sr., Mike DelRose Jr.

Brokerage 459

Brokerage Residential Commercial Development 459

Housing Wire

APRIL 7, 2023

trillion in commercial real estate debt will mature, “… by far more than any 5-year period in history.” Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. An opportunity for commercial real estate investors and developers? What does this sound like to you?

Commercial 418

Commercial Banks Fixed-rate mortgage Residential 418

Housing Wire

OCTOBER 2, 2024

This process included removing a variety of debt — including commercial mortgages, personal loans and auto loans — from balance sheets and making credit available to traders. Mullen also clarifies that the term RTL, or residential transition loan, is synonymous with the fix-and-flip mortgage.

Lending 459

Lending Banks Loans Residential 459

Housing Wire

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

Commercial 448

Commercial Residential Equity Banks 448

Housing Wire

APRIL 28, 2023

Jakes Real Estate Ventures began purchasing the site in 2022 to create commercial and residential spaces. In December, the bank agreed to pay $1.7 Consequently, the regulator ordered the bank to pay more than $2 billion in redress to consumers. It also follows several scandals related to its lending practices.

Lending 459

Lending Banks Commercial Development 459

Housing Wire

SEPTEMBER 25, 2024

retail residential mortgage applications through commercial banks, independent mortgage banks and thrifts. Rates for 15-year fixed loans rose to 5.47%, while rates for 5/1 ARMs rose to 5.76%. The MBA’s survey includes more than 75% of all U.S. Its index is benchmarked at 100 in March 1990.

FHA loan 448

FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

SEPTEMBER 10, 2024

about the 2023 Basel III Endgame proposal , which would modify risk-based capital requirements for large banks. He also described increasing aggregate common equity tier 1 capital requirements for the global systemically important banks (G-SIB) by 9%, and increasing capital requirements for non-GSIB firms subject to the rule by 0.5%.

Banks 448

Banks Lending Finance Loans 448

Housing Wire

OCTOBER 30, 2020

Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. Kelly Stewart has been promoted to vice president senior lending officer for banking operations at Gateway First Bank.

Lending 397

Lending Banks Title Commercial 397

Housing Wire

MARCH 21, 2024

Concerns over Basel III Endgame Fratantoni also expressed concern that the recent Basel III Endgame proposal would accelerate the trend of the mortgage market shifting away from depository institutions, particularly large banks, toward non-depositories and independent mortgage banks. banks in comparison to international standards.

Industrial 453

Industrial Banks Residential Lending 453

Housing Wire

OCTOBER 9, 2024

retail residential mortgage applications across a variety of independent mortgage banks, commercial banks and thrifts. Adjustable-rate mortgages ( ARMs ) increased to 5.9% of all applications. The MBA’s survey covers more than 75% of all U.S. Its weekly application index is benchmarked to 100 in March 1990.

VA loan 458

VA loan Mortgages FHA loan Loans 458

Housing Wire

APRIL 4, 2023

Former Bank of America executive Marty Migliara has been tapped to lead the operations in the region. Migliara is a veteran of asset-backed securities, consumer lending platforms, and residential and commercial real estate.

Commercial 396

Commercial Lending Equity Banks 396

Housing Wire

OCTOBER 5, 2023

His responsibilities include overseeing the strategy and growth of Pagaya’s commercial business – including its single-family rental business and its subsidiary Darwin Homes – as it continues to enhance its tech-enabled product offering and expand its new and existing lending partnerships, the firm said in a news release.

Technology 435

Technology Loans Lending Residential 435

Housing Wire

FEBRUARY 5, 2021

Built announced it plans to use the funding to expand its Built for Lending product suite, as well as to accelerate its efforts to serve more bank and nonbank lenders in the U.S. Last year, Built acquired lienwaivers.io , a provider of lien waiver management and payment solutions for commercial and residential construction.

Technology 377

Technology Closing Construction Commercial 377

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.

Banks 441

Banks Lending Loans Investor 441

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. Veritex is one of Texas’ largest banks, with $8.8 billion purchase of Caliber Home Loans , New York Community Bank ‘s pending $2.6 It posted net income of $31.8

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

SEPTEMBER 7, 2023

Senate Committee on Banking, Housing and Urban Affairs to address the availability of flood insurance. Commercial property premiums increased 20.4% The Mortgage Bankers Association (MBA) on Thursday sent a letter to leaders of the U.S.

Commercial 435

Commercial Residential Banks Mortgages 435

Housing Wire

DECEMBER 24, 2021

Many real estate transactions involve the use of shell companies, all-cash purchases, purchases by international wire from countries with strict banking-secrecy regimes, processes that limit transparency, and the use of intermediaries without [anti-money laundering] obligations,” the White House report states. metro areas.

Banks 482

Banks Residential Commercial Title 482