Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 The deal that runs through 2028 includes more than $1 billion for community development lending and services, investments in affordable housing , revitalization and stabilization, and projects that create jobs in LMI areas.

Banks 433

Banks Mortgages Lending Loan Officer 433

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 480

Banks Loan Officer Lending Loans 480

Housing Wire

JUNE 17, 2024

Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas. Attorneys representing Ginnie Mae and the U.S.

Banks 448

Banks Mortgages Lending Loans 448

Housing Wire

APRIL 19, 2024

Department of Housing and Urban Development (HUD) and Ginnie Mae largely deny any allegations made against the company in the original complaint. Ultimately, Ginnie Mae is again seeking to have the bulk of the claims made by the bank dismissed, but presiding Judge Matthew Kacsmaryk of the U.S. Attorneys for the U.S.

Banks 468

Banks Title Equity Development 468

Housing Wire

APRIL 10, 2024

In its March Supervisory Highlights, the FDIC stated that many institutions have developed policies and procedures to ensure sufficient mortgage broker services are provided in order to receive compensation , which was the first of a two-part test.

Banks 447

Banks Brokerage Mortgages Loans 447

Housing Wire

MARCH 20, 2024

“They’re a more forward-thinking broker, and there has been lots of activity with the HECM Tool, which is a software application that I developed. That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” But I have missed about 80% of it; 20% I might not miss.”

Development 459

Development Industrial Mortgages Loans 459

Housing Wire

JANUARY 3, 2025

These green building benefits associated with modular construction do not come with the dreaded green cost premium even though recent research shows that developers are willing to pay an average 10% more on construction costs if it allows their business to shift towards a more circular and sustainable business model.

Development 435

Development Construction Finance Investor 435

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 435

Banks Lending Loan Officer Loans 435

Housing Wire

JULY 1, 2024

Texas Capital Bank (TCB) is seeking a new partial summary judgment in its suit against Ginnie Mae. The bank seeks to bring the attention of the matter to the court. But TCB’s lien is on the tails, which are not the same thing, the bank contends. TCB also filed a sample version of an order the judge can issue in its favor.

Banks 419

Banks Mortgages Equity Development 419

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. The bank has presence in 15 states and Washington, D.C. TD Bank’s plan also includes $7.5

Banks 445

Banks Lending Loans Finance 445

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change is a community development financial institution (CDFI) that is certified by the U.S. We are excited to expand our impact and better serve our target market borrowers.”

Lending 448

Lending Banks Loans Renovation 448

Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. The bonds are secured by “long-term, low-rate” loans made primarily to developers of low-income multifamily apartment complexes.

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. TCB was thus left with no alternative but to file this action,” the bank concluded.

Banks 441

Banks Bankruptcy Lending Finance 441

Housing Wire

NOVEMBER 13, 2023

The original plan — to buy up troubled mortgage assets — was quickly abandoned in favor of actions like capital infusions for banks and the bailout of our auto companies. Fannie Mae and Freddie Mac have also developed strong loss-mitigation tools. Quickly building a loss-mitigation system in the midst of a crisis was a challenge.

Banks 442

Banks Loans Bankruptcy Mortgages 442

Housing Wire

JULY 11, 2024

The latest annual report from The Counselors of Real Estate highlights 10 major issues expected to impact the housing industry in 2024, but developers are painfully familiar with at least two of them: labor shortages and skyrocketing capital costs. The result is a sharp increase in labor costs, and longer construction times.

Development 434

Development Construction Finance Investor 434

Housing Wire

JULY 11, 2024

A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. government.

Banks 430

Banks Bankruptcy Mortgages Lending 430

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. That’s all it says.”

Development 448

Development Loans Banks Mortgages 448

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 435

Banks Lending Mortgages Commercial 435

Housing Wire

NOVEMBER 19, 2024

Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development. NP: You work directly with land developers too. What sort of policies are you helping to develop on their end? This interview has been edited for length and clarity.

Land 370

Land Development Banks Finance 370

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). The fate of the specialist when the market shifts The independent mortgage banks most of us think of when someone mentions IMBs originated as a result of the Savings and Loan Crisis of the 1980s. Today, many might feel sorry for the IMB.

Banks 418

Banks Mortgages Loans Investor 418

Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.”

Construction 488

Construction Finance Development Marketing 488

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 435

Banks Mortgages Technology Branding 435

Housing Wire

JANUARY 21, 2025

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. The industry is getting the talent developments and potential new students to enter their workforce. It’s a true collaborative effort, Hoffman added.

Banks 370

Banks Mortgages Lending Loans 370

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. These include, among other things, providing more access to the system to Community Development Financial Institutions (CDFIs) and reducing the regulatory burden on its programs.

Banks 435

Banks Finance Development Loans 435

Housing Wire

OCTOBER 24, 2024

Online real estate marketplace Auction.com released data this week showing that demand for distressed homes — including bank-owned properties and foreclosures — shrank for a second straight quarter. Foreclosure supply at auctions is now at 44% of the pre-pandemic level in first-quarter 2020, while bank-owned supply is at 37%.

Marketing 482

Marketing Banks Development Mortgages 482

Housing Wire

OCTOBER 18, 2024

The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023. It also indicated that the banks gave $134.6

Banks 422

Banks Development Finance Loans 422

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). But TCB also claims that Ginnie Mae did not specify the impact this would have on the liens that the bank had a vested interest in, its attorneys said. Attorneys for the U.S.

Bankruptcy 467

Bankruptcy Banks Development Loans 467

Housing Wire

MARCH 29, 2024

Federal Home Loan Bank reform is in the air in Washington D.C. And the Coalition for Federal Home Loan Bank Reform , a group that I chair and started as a small group of D.C. And the Coalition for Federal Home Loan Bank Reform , a group that I chair and started as a small group of D.C. billion dollars(!)

Banks 468

Banks Loans Development Finance 468

Housing Wire

JUNE 3, 2024

Mortgage subservicer Dovenmuehle Mortgage announced two promotions within its business development team this week. Anna Krogh was named senior vice president and director of business development, while Chris Torres is the new vice president of business development and manager for the Western region.

Mortgages 448

Mortgages Development Banks Technology 448

Housing Wire

NOVEMBER 20, 2024

In August 2023 , the bank disclosed it was under investigation by the Department of Housing and Urban Development (HUD) after the nonprofit organization filed a complaint alleging violations of the U.S. California and Washington are the bank’s main markets. Fair Lending Act. metropolitan areas from 2018 through 2021.

Loan Officer 418

Loan Officer Lending Banks Loans 418

Housing Wire

FEBRUARY 11, 2025

Mortgage lending, small business loans, and investments in local development projects are all driven by local lenders who know their markets, live in their communities, and have a vested interest in the growth of their economies. The FHLBanks are also key players in affordable housing and community development initiatives.

Lending 388

Lending Development Banks Loans 388

Housing Wire

OCTOBER 30, 2024

A consent order signed by a Connecticut banking commissioner said that LoanSnap failed to notify the Nationwide Multistate Licensing System (NMLS) that its main address had changed. These actions include a Wells Fargo suit filed in Minnesota, where the bank sought more than $430,000 over an alleged breach of contract.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

NOVEMBER 7, 2023

On Tuesday, the Federal Housing Finance Agency (FHFA) released a report that examines the Federal Home Loan Bank (FHLBank) system, looking back at its 90-year legacy and offering a series of transformative goals the agency hopes to reach before its centennial in 2032. The system’s operational efficiency is another improvement target.

Banks 430

Banks Finance Development Loans 430

Housing Wire

APRIL 28, 2023

Jakes, a prominent Black minister who leads a Dallas-based megachurch, will focus on initiatives including affordable housing, small business development and financial education. The partnership represents Wells Fargo’s largest minority home lending and development initiative to date. In December, the bank agreed to pay $1.7

Lending 459

Lending Banks Commercial Development 459

Housing Wire

JUNE 25, 2024

Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. He comes to Change Lending after a stint as president of real estate at Texas Capital Bank. In March, Change Lending announced its membership with the Federal Home Loan Bank of San Francisco.

Lending 388

Lending Banks Renovation Loans 388

Housing Wire

MARCH 11, 2024

“Lorraine is a powerhouse in the Manhattan luxury scene, boasting almost two decades of expertise and Kathy is synonymous with excellence and her extensive knowledge of Manhattan luxury and new developments across the city makes her an unstoppable force,” Kevelyn Guzman, regional vice president of Coldwell Banker Warburg, said in a statement.

Development 459

Development Brokerage Banks Agents 459

Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place.

Mortgages 459

Mortgages Banks Title Lending 459