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

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

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

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

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 488

Residential Equity Mortgages Purchase and sale agreement 488

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

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 468

Loans Mortgages Due diligence Banks 468

Housing Wire

APRIL 17, 2024

High mortgage rates, fewer mortgage applications and fewer home sales are unfortunately not the only effects housing professionals could see from a more prolonged high-rate environment. trillion in commercial real estate debt comes due over the next few years. Homebuilders, too, feel the effects of prolonged high rates.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

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

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

OCTOBER 30, 2020

Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. In his new role, Myers will oversee new client acquisition, emerging market expansion, new product growth with existing clients and sales strategy.

Lending 397

Lending Banks Title Commercial 397

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

MAY 30, 2024

His expertise spans condominium conversion and development, residential sales, buyer representation and commercial transactions. also serves as a trustee at Watertown Savings Bank. joined the business in 2009, bringing extensive experience in sales, marketing and strategic management. DelRose Sr. DelRose Jr.

Brokerage 459

Brokerage Residential Commercial Development 459

Housing Wire

JUNE 1, 2021

“Through its Surefire marketing automation and CRM platform, Top of Mind has brought incredible value to the sales and marketing side of the mortgage industry by helping lenders gain powerful competitive advantages for their loan officers,” said Anthony Jabbour, CEO of Black Knight.

Loan Officer 459

Loan Officer Loans Banks Commercial 459

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. From an investment standpoint, this data allows Pretium to respond quickly — within 24 hours — when a property comes up for sale, without any external data needs.

Lending 459

Lending Banks Loans Residential 459

Housing Wire

JULY 14, 2023

The Maine state agencies filed the lawsuit, Franklin Savings Bank v. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis. The bank has argued that because the loan documents stated that the loan had a commercial purpose, the law does not apply.”

Mortgages 369

Mortgages Commercial Banks Loans 369

Housing Wire

SEPTEMBER 21, 2023

While Fed Chair Jerome Powell emphasized incoming data will determine whether the central bank will raise its federal funds rate at its next FOMC meeting in November, the “dot-plot” of rate projections showed policymakers foresee one more hike by the year-end. Therefore, the Fed needs to wait and not raise rates.

Banks 448

Banks Mortgages Principal Commercial 448

Housing Wire

MARCH 14, 2022

trillion in existing home sales in 2021. FinCEN’s advanced notice of proposed rulemaking (ANPRM) looked at establishing more widespread recordkeeping and reporting mandates as authorized under the Bank Secrecy Act, for individuals involved in all-cash real estate transactions in both the residential and commercial real estate sectors.

Industrial 435

Industrial Title Commercial Banks 435

Housing Wire

NOVEMBER 21, 2022

According to FinCEN’s advanced notice of proposed rulemaking (ANPRM), these requirements looked at establishing more widespread recordkeeping and reporting mandates, as authorized under the Bank Secrecy Act, for individuals involved in all-cash real estate transactions in both the residential and commercial real estate sectors.

Title 418

Title Land Banks Commercial 418

Housing Wire

SEPTEMBER 15, 2023

The result should be collapsing costs and cycle times, improving quality, reducing repurchase risk and certifying that a loan, and its related assets are “Fit 4 Sale.” As every consumer facing commercial platform will attest — payments are the prize. The capability to enforce these rights can eliminate errors and rework. What’s next?

Commercial 435

Commercial Technology Investor Title 435

Housing Wire

AUGUST 13, 2024

There are more than enough homes sales in your market for every one of you to hit your goals if you do the right things. In this scenario, Keller Williams sees unemployment remaining under 5% and interest rates falling in a bumpy manner to around 6%, resulting in existing home sales , which are currently slower than 2023, jumping to 4.5

Agents 345

Agents Purchase and sale agreement Marketing Banks 345

Housing Wire

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

Industrial 448

Industrial Banks Lending Equity 448

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. Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

Lending 468

Lending Loan Officer Loans Technology 468

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 21, 2023

Per the release, the cloud-based SaaS solution’s APIs allow seamless integrations with CRM, point of sale (POSs), and loan origination system (LOS) providers.

Technology 370

Technology Mortgages Commercial Loans 370

Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. That concern is overblown, according to several market experts. Easy target.

Purchase and sale agreement 418

Purchase and sale agreement Banks Mortgages Residential 418

Housing Wire

OCTOBER 10, 2022

billion in sales and more than $1 billion in net income. When Toll Brothers went public, it had completed less than 1,000 homes, had $124 million of sales and $12 million in profits, according to Barrons. billion of cash in the bank so it’s hard to cry for yourself. billion of cash in the bank so it’s hard to cry for yourself.

Commercial 418

Commercial Land Development Banks 418

Housing Wire

OCTOBER 10, 2024

Similar to past experiences, Hurricane Helene may lead to 5% of mortgage borrowers in affected areas becoming delinquent but eventually self-curing over the next 12 months, according to a Bank of America (BofA) analysis. billion, a total that includes residential and commercial properties. Across the 100 largest U.S. billion to $47.5

Loans 375

Loans Equity Principal Residential 375

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. ” Traditional banks have proximity to borrowers due to a preponderance of local branches across the country.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

JULY 7, 2023

ATTOM reports that one in 12 home sales last year — 8.4% — involved fix-and-flip investors. But increasing costs and the banking crisis this year have meant a fall-off in return on investment for flippers, and for those still interested, it can be more difficult to finance a fix-and-flip or a bridge loan than in past years.

Marketing 370

Marketing Lending Banks Loans 370

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 476

Technology Title Development Lending 476

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Rocket Companies ($1 billion), United Wholesale Mortgage ($453.2 UWM had $303.4

Principal 397

Principal Banks Loans Lending 397

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 174

Commercial Marketing Short sale Banks 174

Housing Wire

JULY 1, 2024

Devon Bevis Senior Vice President Correspondent & Co-Issue Sales Mr. Cooper Dionna Hall Chief Executive Officer Broward, Palm Beaches & St.

Lending 493

Lending Technology Mortgages Equity 493

Housing Wire

FEBRUARY 21, 2024

Many Axis trainees come from sales-based careers in hospitality, retail or insurance, which makes it easier to adapt to the mortgage business. Hall joined Axis’ first program in 2021, learned the ropes and landed a paid internship at EscrowTab , a software company, where she now handles sales support. were women.

Mortgages 461

Mortgages Title Marketing Lending 461

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. TF: Effective risk management in REO asset sales involves awareness of the intrinsic risks.

Due diligence 435

Due diligence Marketing Mortgages New Construction 435

Housing Wire

APRIL 14, 2022

The soaring federal deficit requires even more buyers of bonds, and some government bond sales may make it more difficult to issue MBS securities, unless with higher interest rates.”. The most important private market segment of agency MBS holdings is commercial banks,” the Recursion report states. by the end of the year.

Marketing 435

Marketing Purchase and sale agreement Investor Banks 435