Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits.

Banks 448

Banks Mortgages Loan Officer Loans 448

Housing Wire

JULY 19, 2024

Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We The company has an in-house construction servicing and valuation team “to ensure best-in-class customer experiences and comprehensive portfolio monitoring,“ according to its announcement. “We

Construction 459

Construction Development Loans Lending 459

Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

Residential 482

Residential Construction Renovation Banks 482

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. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

MARCH 30, 2023

Achieving [these] goals will also help encourage community banks to expand their construction-to-permanent mortgage lending activity, especially in small towns and rural markets.”

Construction 397

Construction Loans Banks Lending 397

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. Western Alliance Bank transformed this model over a decade ago.

Banks 434

Banks Lending Finance Mortgages 434

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks. Jumbo loans account for approximately 12% of all loans originated as of February 2022.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

JANUARY 28, 2025

. … The trend over the last few years of banking financing retreating from this sector , I think it opened up a lot more opportunities for BPL lenders to be the at the forefront of the funding solution to residential developers and investment. I think [about] five years ago, banks were still extremely active in the sector.

Residential 364

Residential Lending Finance Banks 364

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 The company secured $1.4

Banks 418

Banks Commercial Loans Investor 418

Housing Wire

FEBRUARY 6, 2025

Buyers want affordable new homes, yet new construction listings are still playing catch up with their high-priced counterparts. Construction loans Inventory levels in the real estate market arent what they used to be. Now, construction homes dominate purchase transactions in the market. Why is that important?

Loans 343

Loans Mortgages Equity Construction 343

Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters.

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The bank eliminated 72 mortgage jobs in Iowa across earlier layoffs.

Banks 370

Banks Loan Officer Loans Lending 370

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” The effects of a frozen housing market will be felt far beyond the construction and mortgage industries. Although February single-family housing starts ticked up 1.1%

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

JULY 29, 2024

Senate and House of Representatives have reintroduced a bill designed to address housing issues by rehabilitating or constructing millions of additional units in an effort to bring down costs for renters and homeowners. A coalition of Democratic lawmakers in the U.S. Democrats are the only lawmakers who have signed on.

Land 475

Land Construction Equity Banks 475

Housing Wire

DECEMBER 3, 2024

Visentini recently served as the investment bank’s head of firm strategy for execution and innovation. The graduate of Boston College then moved to Morgan Stanley, where he held multiple managing director roles in several departments — including investment banking, capital and firm strategy.

Banks 370

Banks Commercial Residential Construction 370

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 418

Marketing Lending Branding Banks 418

Housing Wire

MARCH 24, 2025

Experts at the summit highlighted that 16% of all new housing activity these days comes from new construction , making builder engagement strategy essential for lenders. The market is local and lenders must think that way A common misconception in mortgage banking is that we operate in a national market. Those who dont?

Technology 368

Technology Loan Officer Loans Banks 368

Housing Wire

JANUARY 30, 2025

New construction The reverse mortgage industry has, for a while, aimed to communicate the potential benefits of the Home Equity Conversion Mortgage ( HECM ) for Purchase program as a mechanism for securing a new home by using a reverse mortgage. They have quality concerns, specifically with how they’re built today, he said.

Inspection 322

Inspection Mortgages New Construction Equity 322

Housing Wire

NOVEMBER 21, 2024

Industries like retail, banking, transportation and food service have undergone massive digital transformation in recent years by leveraging new technologies to enhance consumer experience. As a result, today’s consumers now expect the same seamless digital experiences in all areas of their lives, including rental management. Census Bureau.

Property Management 370

Property Management Technology Banks Construction 370

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. The post Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions appeared first on HousingWire. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

JUNE 2, 2023

based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. When banks engage in redlining, they perpetuate existing patterns of segregation and widen the racial wealth gap in our country.

Banks 321

Banks Lending Loan Officer Loans 321

Housing Wire

OCTOBER 24, 2024

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. “There is nothing like that face to face.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

JANUARY 31, 2025

He has also served in a variety of roles with big-name companies that include Guaranteed Rate Affinity , TIAA , Citizens Bank and JPMorgan Chase. Evergreen Home Loans originates and services a variety of mortgage products, including government-backed loans, conventional loans, jumbo loans and construction financing.

Loans 341

Loans Loan Officer Construction Banks 341

Housing Wire

JULY 9, 2024

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data. “[M]ember that use trended credit bureau data.

Banks 420

Banks Finance New Construction Construction 420

Housing Wire

JULY 23, 2024

Melissa Perez, a former director of operations at First Republic Bank , has joined Dunmor as senior vice president of operations. Prior to joining Dunmor, Perez led a team of more than 120 employees across six offices at First Republic Bank. She also held prior leadership roles at Prospect Mortgage , Citinet Mortgage and Countrywide.

Lending 446

Lending Banks Residential Construction 446

Housing Wire

JULY 19, 2024

In a competitive market full of options, banks must rely on more than their rate sheet to compete for the business of third-party originators. We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.”

Lending 466

Lending New Construction Renovation Banks 466

Housing Wire

AUGUST 29, 2024

Presidents and board chairs of the 11 Federal Home Loan Banks (FHLBanks), under pressure to pump more money into affordable housing, sent letters to the U.S. This system lent billions of dollars to Silicon Valley Bank , Signature Bank and First Republic Bank before these banks collapsed in 2023.

Banks 435

Banks Finance Development Loans 435

Housing Wire

APRIL 24, 2023

In addition to the lower mortgage rate forecast issued after the March banking turmoil, Fannie Mae’s Economic and Strategic Research (ESR) Group has upgraded its existing home sales outlook for the remainder of the year. This includes deposits at small banks, which were roughly flat — and even rose somewhat over the past two weeks.

Sales 397

Sales Banks Construction Lending 397

Housing Wire

DECEMBER 1, 2021

McCord’s penalty is dwarfed by the $95 million that Cauthron found he cost local banks, financial institutions and homeowners, during his sentencing in the Western District of Oklahoma on Monday. As the housing market changes, so does lending fraud. According to McCord, he made false statements to CapLOC in an attempt to seal the deal.

Mortgages 544

Mortgages Lending Banks Loans 544

Housing Wire

OCTOBER 18, 2023

Multigenerational housing gains steam to combat affordability pressures According to a recent survey conducted by OnePoll , 61% of homeowners cited multigenerational housing as their primary motivation for constructing an ADU. a garage or basement) or when modern offsite construction is used to build a new structure.

Construction 545

Construction Banks Closing As-is 545

Housing Wire

FEBRUARY 17, 2025

By aligning your work time with your natural productivity periods, you can bank massive gains in how much work you complete. Structuring meetings like this can make them much more constructive. If youre a night owl, wait until everyones asleep to tackle that days workload. Finally, the agenda should include a start and finish time.

Agents 367

Agents Construction As-is Banks 367

Housing Wire

APRIL 25, 2023

“Despite signs of economic uncertainty in March, which included news of bank failures, buyers are still showing demand for new homes.” The faster sales pace meant the inventory of unsold new homes continued to fall, dropping from 436,000 in February to 432,000 in March. This represents 7.6 months of supply at the current sales pace.

Sales 435

Sales Construction New Construction Principal 435

Housing Wire

JUNE 6, 2023

The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22. Chicago – Residential construction activity has been down modestly in this District. Minneapolis – Residential construction has remained subdued.

Residential 459

Residential Construction Finance Sales 459

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 459

Mortgages Loan Officer Banks Equity 459

Housing Wire

JANUARY 6, 2023

The lion’s share of the job growth in December came from gains in the leisure and hospitality sector (up 67,000 jobs), the health care sector (up 55,000 jobs), and the construction sector (up 28,000 jobs). The construction sector’s large increase is thanks to a sizable gain in the number of specialty trade contractors which added 16,600 jobs.

Marketing 482

Marketing Residential Construction MLS 482

Housing Wire

MARCH 16, 2023

What we see in this latest starts report is encouraging, as a record number of 5-units are still in construction and anything that gets finished is positive against inflation. As you can see, the 1974 recession destroyed the 5-unit construction production. The future growth of 5-unit construction will be at risk if a recession happens.

Mortgages 521

Mortgages Construction Banks Sales 521

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 468

Loans Investor Banks Finance 468