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 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 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 in fully funded cash proceeds from the global investment firm Atlas SP Partners through a new senior asset-backed financing facility.

Banks 418

Banks Commercial Loans Investor 418

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

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And Potential partnerships Home equity investments are likely to become essential to the home finance product marketplace. And that has already started to happen,” Craft said.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

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. Meanwhile, nearly two-thirds of smartphone users use an app to manage their finances. Census Bureau.

Property Management 370

Property Management Technology Banks Construction 370

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

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

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, This transition is said to build on other recent efforts by FHLBank Chicago to expand the availability of mortgage financing.

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 11, 2024

Transitioning to factory building from on-site construction reduces building costs by 20% and significantly improves delivery time; and by using green materials, developers can open up new financing options that, together, turn project economics right-side-up. Energy efficient homes open the door to new and better financing options.

Development 435

Development Construction Finance Investor 435

Housing Wire

SEPTEMBER 5, 2024

In this executive conversation, Steven Katz, Executive Vice President and Chief Investment Officer of Residential Financing at Arbor Realty Trust, shares his thoughts on the burgeoning build-to-rent (BTR) market. SK: Construction lending is extremely complex, and in which banks have traditionally been the dominant players.

Marketing 476

Marketing Construction Investor Finance 476

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

Housing Wire

JULY 15, 2024

Baltimore -based Dominion Financial Services , a nationwide private lender that specializes in financing for real estate investors , announced the hiring of Dustin Wells as the president of its newly launched wholesale lending division. “The broker community is scaling rapidly as more and more banks are scaling their operations back.”

Lending 433

Lending Finance Loans Construction 433

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. The supply of existing homes for sale has remained low as homeowners have showed increased hesitancy to list homes for sale, especially if they financed at a low interest rate.

Residential 459

Residential Construction Finance Sales 459

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

Lending 457

Lending New Construction Construction Finance 457

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

MARCH 5, 2024

They include the reallocation of funds originally earmarked for relief from the economic impacts of the COVID-19 pandemic for affordable housing construction, as well as new provisions for the 2021 American Rescue Plan (ARP) Emergency Rental Assistance (ERA) program to clarify the use of such funds for affordable housing.

Construction 493

Construction Finance Land Design 493

Housing Wire

JULY 31, 2024

Interest rate impact Financing a home today is undeniably much more expensive than just a few years ago. The median home in 2019—priced at $212,000 and financed with a 30 year mortgage for 3.75%—would carry a monthly cost of under $900. Incomes are the single best predictor of home prices.

Finance 493

Finance Mortgages Construction Banks 493

Housing Wire

MARCH 16, 2023

The pace of new construction had been picking up over the past two years. Completions have outpaced starts since July 2022 and that will likely continue to put downward pressure on the number of single-family homes under construction. Homebuilders often depend on financing from these regional banks. year over year.

Banks 448

Banks MLS Construction Finance 448

Housing Wire

APRIL 28, 2023

Over the next 10 years, the partnership could result in “up to $1 billion” in capital and financing from Wells Fargo and grants from the Wells Fargo Foundation, the companies said. 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.

Lending 459

Lending Banks Commercial Equity 459

Housing Wire

APRIL 19, 2021

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. Knox oversees a portfolio of more than $100 million in investment properties, and was named one of HousingWire’s 2021 Tech100 companies.

Construction 397

Construction Banks Finance Technology 397

Housing Wire

MARCH 21, 2024

The silver lining, however, is that builders have picked up their pace of construction. banks in comparison to international standards. (FDIC) and the Office of the Comptroller of the Currency (OCC) in July 2023 – boosted capital requirements for residential mortgage portfolios at large U.S.

Industrial 453

Industrial Banks Residential Lending 453

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

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

JANUARY 31, 2023

Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures. Reich and others explored opportunities for transitioning to different lenders, and narrowed it down to a small handful of companies that were looking to hire employees from Finance of America. “Go

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

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

NOVEMBER 23, 2021

The cost gap also thwarts construction and development of modest homes, limiting the availability of affordable homes for first-time and first-generation homebuyers. Neighborhood Homes creates a tax credit that covers the gap between the cost of construction and a home’s sale price.

Renovation 476

Renovation Construction Development Finance 476

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

APRIL 4, 2023

In particular, Holden noted the opportunity of training computer algorithms to review bank statements and identifying borrowers who have no credit but are making consistent rent payments every month. “We America faces an undersupply of housing of 1.1

Industrial 435

Industrial Technology Banks Finance 435

Housing Wire

DECEMBER 7, 2023

Flagstar offers a broad product set including agency, non-agency, construction products and HELOCs. It also provides subservicing , mortgage finance, i.e., warehouse , MSR and servicing advance lending, as well as cash and treasury management services. “We

Lending 353

Lending Banks Technology Mortgages 353

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. in 2024 and 5.1% Therefore, the Fed needs to wait and not raise rates.

Banks 448

Banks Mortgages Principal Commercial 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

SEPTEMBER 22, 2022

Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% We do not see new construction returning in a meaningful way any time soon. “We do not see new construction returning in a meaningful way any time soon. About 9.1%

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

SEPTEMBER 29, 2023

Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 435

Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

JULY 7, 2023

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. But its bridge loan and fix-and-flip loan pipeline is down 40% over that same time period.

Marketing 370

Marketing Lending Banks Loans 370

Housing Wire

SEPTEMBER 14, 2020

Hidden somewhere in rural Kansas and nestled 15 stories below the ground, the listing consists of condos constructed in a repurposed Atlas missile silo. mil and most banks will not finance. About a year ago, RE/MAX agent Ken Flaspohler took on what he said is the most exciting luxury listing he’s ever had.

Land 468

Land Construction Banks Finance 468