Housing Wire

JANUARY 22, 2025

Auction.com has long been a leading platform for bank-owned (REO) and foreclosure sales to real estate investors and others seeking a discount. SmartSale is designed as an alternative for sellers who are navigating financial challenges or simply seeking greater control, Auction.com explained.

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Proof of funds Equity Technology Banks 369

Housing Wire

MARCH 8, 2024

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. There will be bank failures, but not the big banks.”

Banks 493

Banks Commercial Residential Lending 493

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 397

Banks Finance Commercial Technology 397

Housing Wire

NOVEMBER 7, 2024

Impacts to mortgage credit Banks, insurers and regulators have long acknowledged that climate risks could threaten mortgage borrowers’ creditworthiness. For homeowners with conventional loans backed by Fannie Mae and Freddie Mac , insurance at replacement cost is mandatory, but flood insurance is only required in designated flood zones.

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Design Mortgages Lending As-is 482

Housing Wire

JANUARY 17, 2025

Mr. Cooper had previously acquired the assets in a deal with Flagstar Bank , which was announced in July and closed in November. It also has a proprietary origination system designed to speed up the funding process. A&Ds goal is to be an industry leader, and this transaction is a big step forward. It originated $2.37

Mortgages 369

Mortgages Lending Banks Finance 369

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 370

Finance Lending Mortgages Renovation 370

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We It’s the first time that we’re now sharing free cash flow targets.

Banks 446

Banks Mortgages Loans Investor 446

Housing Wire

DECEMBER 9, 2024

These will ideally allow for the somewhat siloed reverse mortgage industry to more easily collaborate with others in the mortgage finance ecosystem. Because of that, more people in the industry have a better understanding of seniors unique challenges, which could necessitate more products designed for them.

Mortgages 359

Mortgages Lending Banks Industrial 359

Housing Wire

FEBRUARY 10, 2025

Non-QM Prime is designed to offer “flexible documentation” to borrowers with strong credit profiles. Cardinal Financial is also offering real estate investor financing with its Foreign Debt Service Coverage Ratio ( DSCR ) and Investor Solutions DSCR products. billion in non-QM loans through a proprietary product suite.

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Loans Finance Investor Mortgages 273

Housing Wire

FEBRUARY 8, 2024

To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved in the reverse mortgage business for the first time since the early 2010s. national bank, a large bank [that is considering entering] reverse.

Banks 430

Banks Mortgages Technology Branding 430

Housing Wire

FEBRUARY 6, 2025

Finance a loan, and you may lose money. Avoid financing, and you risk missing out on a sales growth opportunity. Also, DSCR five- to nine-unit loans are designed for larger multi-family homes. This loan type offers up to $2 million in financing. Bank Statement loans are designed for self-employed borrowers.

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Loans Mortgages Equity Construction 273

Housing Wire

APRIL 4, 2025

The Platinum Peak product suite aims to offer higher available loan-to-value (LTV) ratios, which are designed to translate into higher loan proceeds for borrowers, according to the announcement. Finance of America (FOA) has made the growth of its HomeSafe proprietary product suite a centerpiece of its growth goals for this year.

Mortgages 270

Mortgages Principal Loans Equity 270

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. Nearly 90% of VA-backed loans are made with no down payment.

Industrial 473

Industrial Fixed-rate mortgage Banks Loans 473

Housing Wire

MARCH 24, 2021

Nicholas Hahn announced as Gateway First Bank’s new chief financial officer. Hahn has more than 35 years of experience in the finance industry, holding various executive positions in the industry prior to joining Gateway. billion community bank in eastern Iowa. Nicholas Hahn. Have a hiring announcement you want to share?

Banks 435

Banks Finance Industrial Design 435

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. The term TBA is derived from the fact that the MBS that will be delivered to fulfill a TBA trade is not designated at the time the trade is made.

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Closing Mortgages Banks Lending 415

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. The entire system has to be designed to inflate the price over time. Remember, the system is designed to keep home prices inflated.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

MARCH 5, 2024

Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country. The third provision is an extension of the support from the Federal Financing Bank (FFB) for “a risk-sharing initiative between the U.S.

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Construction Finance Land Design 491

Housing Wire

SEPTEMBER 6, 2022

Over the past year, the Federal Housing Finance Agency (FHFA) and government-sponsored entities (GSEs) Fannie Mae and Freddie Mac have committed to exploring innovative ways to expand homeownership access safely and securely. This charge couldn’t come at a better time. Utilizing ATP gives lenders the best of both worlds.

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Due diligence Banks Finance Technology 475

Housing Wire

JULY 23, 2021

3-month bank statement. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. The 3-month bank statement program is ideal for borrowers with nontraditional income streams. Jumbo products. We’re very excited to enter the fix’n’flip space.

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Marketing Banks Lending Loans 459

Housing Wire

MAY 8, 2024

Our 1st Gen loan program is a game-changer, designed to bridge the gap and pave the way for underserved communities to build generational wealth through homeownership.” PMG offers platforms for human resources, finance, technology , legal and compliance services to its group of lenders. In 2022 , it added Lone Peak Lending.

Loans 397

Loans Mortgages Lending Branding 397

Housing Wire

JANUARY 13, 2021

In prepared remarks for the event, Brainard said: “Recognizing that AI presents promise and pitfalls, as a banking regulator, the Federal Reserve is committed to supporting banks’ efforts to develop and use AI responsibly to promote a safe, fair, and transparent financial services marketplace.

Banks 498

Banks Technology Development Mortgages 498

Housing Wire

DECEMBER 24, 2021

The pronouncement was more than 40 years coming, and arrived after both the Consumer Financial Protection Bureau and the Federal Housing Finance Agency had publicly weighed in on the issue. Broeksmit said he hoped to see lenders take the first step, by designing a program and floating it to the GSEs.

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Lending Finance Banks Equity 431

Housing Wire

JUNE 15, 2021

Johnson, who most recently led the depository bank’s Southeast division, will report directly to Sprout’s president, Shea Pallante. Johnson, based in Miami, has also worked at PNC Bank during his career in mortgage banking. It also appointed Laura LaRaia as chief legal officer.

Mortgages 396

Mortgages Lending Banks Residential 396

Housing Wire

JUNE 22, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins. UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release.

Loans 459

Loans Loan Officer Banks Mortgages 459

Housing Wire

MAY 26, 2022

Evelisse Hernandez is charged with four counts of bank fraud and four counts of aggravated identity theft. Each count of bank fraud carries a potential sentence of as many as 30 years in prison and each count of aggravated identity theft carries a mandatory consecutive two year sentence.

Loan Officer 435

Loan Officer Loans Banks Mortgages 435

Housing Wire

OCTOBER 5, 2023

“…These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” Unlike banks and credit unions, nonbanks can’t hold these [home equity] loans on their balance sheets. …

Equity 447

Equity Purchase and sale agreement Marketing Lending 447

Housing Wire

MAY 15, 2024

CHLA also seeks pay scale comparability, a flexibility it says is enjoyed by other federal agencies including the Federal Housing Finance Agency (FHFA) and the Federal Deposit Insurance Corp. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

Banks 433

Banks Loans Development Mortgages 433

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 432

Lending Principal Finance Loans 432

Housing Wire

MAY 20, 2024

FDIC), including as a representative on the deputies committee of the FSOC, where he helped to build its nonbank designation program. After that, he spent about three years at the Federal Housing Finance Agency (FHFA), where he became deputy director and the chief fintech officer. He left the FHFA in February.

Bankruptcy 437

Bankruptcy Finance Mortgages Banks 437

Housing Wire

FEBRUARY 27, 2025

Its designed to resemble A-paper loan processes to help brokers familiarize themselves. Lastly, Acra Lending also uses automated bank statement processing technology that automatically calculates borrower income. It eliminates the manual component of evaluation and reduces turnaround times.

Lending 233

Lending Technology Loans Mortgages 233

Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

Industrial 396

Industrial Banks Loans Design 396

Housing Wire

OCTOBER 18, 2021

Loans in forbearance for depository servicers and independent mortgage bank servicers decreased 25 basis points to 2.57% and 53 basis points to 2.16%, respectively. Mortgage servicers, lenders, state housing finance agencies and the U.S. How servicers can support the most vulnerable as moratoriums lift.

Loans 435

Loans Finance Investor Mortgages 435

Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 Per the civil action, UBS knew that a significant number of the mortgages did not comply with underwriting guidelines designed to assess borrowers’ ability to repay and with consumer protection laws. The settlement with the U.S. It acquired the rival this year for $3.4

Due diligence 364

Due diligence Banks Loans Investor 364

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. The CDFI certification is a designation given by the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 370

Lending Finance Loans Design 370

Housing Wire

OCTOBER 16, 2023

Housing trade groups urged Fed Chair Jerome Powell to make two clear statements — that the Fed does not contemplate further rate hikes, and the Fed will not sell off any of its MBS holdings until and unless the housing finance market has stabilized and mortgage-to-Treasury spreads have normalized. Not just mortgages, but servicing.

Banks 446

Banks Fixed-rate mortgage Lending Mortgages 446

Housing Wire

MARCH 5, 2024

This is according to the results of a survey conducted by market research firm Ipsos and HomeEquity Bank — Canada ’s leading reverse mortgage lender — that focuses on members of the baby-boomer generation who reside in that country. “In To get a better idea of the situation in the U.S.,

Banks 445

Banks Finance Technology Design 445

Housing Wire

SEPTEMBER 24, 2021

The company has created a new vertical of loans and an entirely new LOS designed just for borrowers looking to purchase a home and renovate it to put back on the market. Through this program, Acra aims to remove many of the financing hurdles typically faced by those in the fix-and-flip sector. Time-consuming underwriting.

Lending 454

Lending Finance Loans Renovation 454