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

JANUARY 28, 2025

Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. I think [about] five years ago, banks were still extremely active in the sector.

Residential 364

Residential Lending Finance Banks 364

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

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

MARCH 26, 2024

As the person relaxes on the couch watching television at night, they occasionally check the current value of their home and do a rough calculation of the amount of equity that they have accrued. Stated differently, you are dealing with individuals that may be in an equity prison. It comforts them for a brief moment.

Equity 459

Equity Loans Bankruptcy As-is 459

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 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. The White House estimates that this “will raise an additional $3.79

Construction 535

Construction Closing costs Renovation Title 535

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.” Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

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

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

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

APRIL 28, 2023

“This alliance with our organization allows us to further our four decades-long work to provide economic justice, eradicate food deserts, construct desirable workplaces and affordable housing, closing the digital divide and ultimately help families leave a rich and lasting legacy for the next generation,” T.D.

Lending 459

Lending Banks Commercial Equity 459

Housing Wire

JANUARY 10, 2022

And if three hikes in the federal funds target come to pass, initial rates on ARMs, HELOCs and construction loans (often linked to the bank prime) will likely increase from one-half to three-quarters of a percentage point. for 30-year fixed-rate loans. 2022 should be a strong year for housing.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

OCTOBER 2, 2024

billion of equity as part of a $3 billion-plus investment to help homebuilders grow inventory, which he describes as an attractive partnership Homebuilder and development lending is a growing part of Pretium’s ecosystem for build-to-rent properties. Burns segues the conversation to explore other areas that Pretium is interested in entering.

Lending 459

Lending Banks Loans Residential 459

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The total volume should not be lower than $100 million for each bank. In the first week of October, the bank also launched a $1.5 In May, Sen. Catherine Cortez Masto (D-NV) and Rep.

Banks 370

Banks Loans Equity Finance 370

Housing Wire

MARCH 12, 2024

Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans. The Denver-based fintech made its first mergers and acquisition (M&A) deal in May 2023 when it acquired mortgage solutions provider LenderSelect.

Lending 448

Lending Technology Loans Equity 448

Housing Wire

AUGUST 16, 2022

The company, led by Alan Qureshi , says its self-service technology is “able to replicate any investor pricing and modeling construct in real time to provide a unique solution tailored to its clients, including private equity investors and investment banks.”

Technology 396

Technology Equity Investor Construction 396

Housing Wire

SEPTEMBER 27, 2023

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. About 37% of respondents were spending money in social media and 34.8%

Mortgages 448

Mortgages Marketing Banks New Construction 448

Housing Wire

APRIL 20, 2022

Homepoint’s “New Build program” connects homebuilders with business purpose construction financing through in-region mortgage brokers, with loan amounts up to $4 million per unit or $25 million per project. It’s also assessing a variety of other products to service a market that is now heavily purchase-focused.

Loans 397

Loans Lending Construction Banks 397

Housing Wire

DECEMBER 12, 2024

The increase in asset limits is really focused on people with a significant amount of equity in their homes, giving them the opportunity to take out a reverse mortgage to be able to have a little extra money for retirement. as they seem focused on people with high-cost homes and significant equity. Maria Cantwell (D-Wash.)s

Mortgages 370

Mortgages Equity Construction As-is 370

Housing Wire

NOVEMBER 2, 2021

California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. According to the transaction terms, American Equity Investment Life Insurance Company provided financing for the deal and acquired $1 billion of loans originated by Anchor.

Loans 387

Loans Finance Residential Investor 387

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. In addition, JP Morgan Chase & Co. 1, 2022, according to a CoStar News report.

Marketing 545

Marketing Construction Development Investor 545

Housing Wire

JULY 18, 2022

Bank, Citi and Bank of America looking to expand the ranks of LOs. WesBanco Bank , the second-largest bank headquartered in West Virginia, plans to hire at about a dozen loan originators in 20 major markets this year. Founded in 1870, the bank has about 65 LOs. PNC Bank is hiring LOs in the New York City region. *

Mortgages 476

Mortgages Banks Brokerage Loans 476

Housing Wire

JUNE 23, 2021

In fact, equity gained through homeownership is a primary means for Americans to accumulate wealth—especially for Black households, according to the Urban Institute. Purchasing a home is still more affordable than renting in two-thirds of the country. And, a first home becomes a stepping-stone for first-time buyers to build wealth.

Marketing 448

Marketing Construction Industrial Mortgages 448

Housing Wire

NOVEMBER 30, 2021

The amount of equity in these loans, the underwriting, the guardrails around ATR have proven that this is a real, sustainable product that investors like.”. New construction has been hit hard by supply chain disruptions and materials and labor shortages, and inventory of existing homes is tight. Refinance decline.

Lending 434

Lending Loans Investor New Construction 434

Housing Wire

DECEMBER 30, 2022

Mortgage demand picked up in recent weeks due to rates declining to 6% levels and a massive backlog of homes under construction, as mentioned by HousingWire ‘s lead analyst Logan Mohtashami in a recent column. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory. Barnes said.

Loans 435

Loans Renovation Construction Mortgages 435

Housing Wire

JANUARY 11, 2023

Figure Technologies, founded in 2018 by Mike Cagney, planned to merge with a mortgage bank to bring blockchain tech to the financial institution through a blank check company, Figure Acquisition Corp.

Lending 448

Lending Mortgages Marketing Loans 448

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Due to limited options available on the market, buyers are increasingly turning to newly constructed homes, Xu added.

Mortgages 397

Mortgages Loans Residential Equity 397

Housing Wire

MARCH 28, 2022

are all happening within an end-to-end customer dashboard or portal, which is often connected to one’s bank account and mimics a “banking solution.” A “fully-digital transaction flow” means that the title, payments, escrow, etc. Andy Bodrog is Partnerships Director, Property at Cover Genius.

Marketing 397

Marketing Title Closing costs Technology 397

Housing Wire

NOVEMBER 21, 2022

This deficit greatly exacerbates the challenge of bringing equity to homeownership, particularly for low-to-moderate income (LMI) home buyers who are disproportionately people of color. CoreLogic estimates that by the end of 2022, the United States will be facing a 1.2-million-unit Data science for the good of affordable homeownership.

Finance 397

Finance Design Equity Construction 397

Housing Wire

SEPTEMBER 22, 2023

While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% Elevated mortgage rates will lead to more lenders spilling red ink in the latter half of the year, in contrast to the improved financial performance of independent mortgage banks in Q2. But prices are rising again. to 6% over the cycle.

FHA loan 476

FHA loan Bankruptcy Marketing Loans 476

Housing Wire

AUGUST 3, 2023

This has driven meaningful share gains for new construction,” she added, “with the percentage of new-home listings more than doubling from long-term norms to over 30% of the market.” We believe this lack of existing homes on the market is pushing prospective buyers toward new homes, bolstering sales and construction,” he added.

Land 370

Land Construction Development Finance 370

Housing Wire

NOVEMBER 28, 2022

The downturn in the LEI reflects consumers’ worsening outlook amid high inflation and rising interest rates, as well as declining prospects for housing construction and manufacturing. In addition, we have a lot of two-unit construction built, which will bring more supply online. The Fed believes the strength of the U.S.

Mortgages 538

Mortgages Construction As-is Staging 538

Housing Wire

SEPTEMBER 22, 2022

This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. Credit scores are at record highs, and equity positions have never been stronger. During the past 18 months — when refis were low-hanging fruit — the LO closed around $3 million a month.

Mortgages 397

Mortgages Loan Officer Loans Equity 397

Housing Wire

APRIL 24, 2023

Home equity is also the primary source of wealth for most Americans. The program helped a generation of Americans purchase their first home, however, due to a government policy known as “red-lining,” banks were effectively prohibited from issuing FHA-insured loans in neighborhoods that were predominantly Black or Hispanic.

Closing 397

Closing New Construction Loans Equity 397

Housing Wire

DECEMBER 16, 2021

The Fed and other central banks around the world are already responding to this trend with their words and are beginning to change their actions. However, inflation running much higher than the Fed’s target is troubling, as higher inflation expectations are getting baked into consumer and business decision-making. What if it doesn’t?).

Mortgages 482

Mortgages Marketing Industrial Equity 482

Housing Wire

JANUARY 6, 2023

As a mortgage banker who does business solely in New Jersey, Gallo expects to see home equity loans and mortgage loans getting love in the new year — due primarily to the lack of inventory in his market and the equity built up in owners’ homes. Chris Gallo: We did see a lot of that with just equity in homes going up.

Loan Officer 435

Loan Officer Loans Equity Mortgages 435