Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? The list of potential obstacles across the Black housing journey — it’s long,” said Katrina Jones, Fannie Mae’s vice president of racial equity strategy and impact. “The

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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.

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Banks Title Equity Development 468

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S. ” U.S.

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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.”

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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.

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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.

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Banks Mortgages Equity Development 423

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.”

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Housing Wire

AUGUST 23, 2023

based Regions Bank $2.95 The Board fined Regions “for its failure to effectively monitor a portfolio of home equity loans for compliance with flood insurance regulations due to changes in loan servicing platforms and third-party service providers,” noting that the bank had a pattern of individual violations of flood insurance regulations.

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Banks Equity Loans Residential 370

Housing Wire

JANUARY 8, 2024

When monopolies occur, the only opportunity for innovation comes from the largest banks and lenders as they have the capital to develop their own proprietary solutions. While many of the companies providing services to loan originators don’t directly interact with consumers, their impact is the same.

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Equity Lending Technology Banks 476

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.

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Banks Loan Officer Loans Lending 370

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.

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Banks Loans Bankruptcy Mortgages 444

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” For example, bank regulators in July released a plan to increase capital requirements for residential mortgages, the Basel III Endgame rules. ” Another opportunity is in the home equity space.

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Housing Wire

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. The DOJ also claims that the bank failed to take any meaningful measures to compensate for its lack of physical presence in majority-Black and Hispanic communities. Park National Bank didn’t respond to requests for comment.

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Banks Lending Loans Mortgages 396

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

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Equity Marketing Debt-to-income ratio Lending 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.

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Banks Mortgages Loans Investor 418

Housing Wire

JUNE 8, 2022

We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. The more than six-month delay, FHFA officials said, was due to the development of the pilot transparency program, and the time it took to scrub proprietary information from the plans.

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Equity Finance Loans Development 370

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

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Lending Equity Technology Banks 448

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). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

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Bankruptcy Banks Development Loans 468

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

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Banks Lending Loans Principal 516

Housing Wire

JUNE 14, 2024

These market developments underscore the reality we must face: Playing the interest rate waiting game is not a viable strategy. However, a record $17 trillion of home equity is still available in the market. So how can you leverage this massive amount of equity? The bottom line: People are staying put.

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Loans Banks Equity Development 448

Housing Wire

NOVEMBER 16, 2021

nCino, a publicly traded financial tech company that specializes in cloud banking, said that its decision to purchase Utah-based SimpleNexus is a natural expansion of the company into the point-of-sale mortgage market. banks and credit unions, where nCino currently has over 1,100 customers.”. appeared first on HousingWire.

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Banks Technology Equity Development 468

Housing Wire

JUNE 13, 2024

The lawsuit stems from a 2022 Bloomberg investigation that found Wells Fargo was the only large bank to deny more Black applicants than it accepted in 2020 during the refinancing boom. Wells Fargo, once the largest depository mortgage lender in America, has significantly retreated from the residential mortgage space in recent years.

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Mortgages Equity Banks Loans 458

Housing Wire

SEPTEMBER 10, 2024

Mortgage capital markets technology firm Polly has raised $25 million to invest in research and development, product innovation and expansion, the company said on Tuesday. 8VC led the latest equity investment with participation from existing investors Menlo Ventures , Meritech , Khosla Ventures and Fifth Wall.

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Mortgages Technology Banks Loans 442

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

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Lending Banks Commercial Equity 459

Housing Wire

MARCH 27, 2024

Prior to his role with RMF, he was a senior executive in the reverse mortgage division at MetLife Bank , co-founder and co-president of EverBank Reverse Mortgage , and president of BNY Mortgage Co. Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors.

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Equity Banks Industrial Mortgages 459

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible. Because that’s the biggest fear people have.

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Mortgages Banks Equity Land 435

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.

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Banks Loans Equity Finance 370

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.

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Mortgages Banks Title Lending 459

Housing Wire

MAY 24, 2021

COVID19 certainly accelerated development and focus on servicing, coming out of 2019 with record low default and foreclosure.”. In addition to the funding round, Stavvy also announced its alliance with Flagstar Bank , the sixth-largest bank mortgage originator in the country, to provide remote loan modification services.

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Land Lending Technology Banks 448

Housing Wire

AUGUST 9, 2024

Mortgage tech firm Blend Labs delivered another loss in the second quarter of 2024 even as it signed deals with new customers across the mortgage and consumer banking channels. Blend’s platform segment includes its mortgage banking suite, which experienced a revenue decrease of 17% year over year to $18.5 million in Q2 2024.

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Banks Loan Officer Loans Title 446

Housing Wire

JUNE 12, 2024

government have requested an extension of deadlines related to discovery in the case brought by Texas Capital Bank (TCB) against Ginnie Mae over the extinguishment of a priority lien tied to the loan portfolio collateral of Reverse Mortgage Funding (RMF), according to court documents reviewed by HousingWire ’s Reverse Mortgage Daily (RMD).

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Banks Development Equity Mortgages 438

Housing Wire

SEPTEMBER 10, 2024

about the 2023 Basel III Endgame proposal , which would modify risk-based capital requirements for large banks. He also described increasing aggregate common equity tier 1 capital requirements for the global systemically important banks (G-SIB) by 9%, and increasing capital requirements for non-GSIB firms subject to the rule by 0.5%.

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Banks Lending Finance Loans 448

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.

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Lending Technology Loans Equity 448

Housing Wire

OCTOBER 16, 2024

Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank , has been reappointed to a new three-year term as a member of the U.S. Department of Housing and Urban Development (HUD) Housing Counseling Federal Advisory Committee (HCFAC).

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Industrial Banks Lending Equity 434

Housing Wire

SEPTEMBER 6, 2024

His daughter helped him qualify for a home equity line of credit to tap another $85,000. When he died in June at 96, he had only $45,000 left in the bank. “My senior-held home equity that rose to $13 trillion in first-quarter 2024. has yet to develop a comprehensive national plan on aging,“ AARP explained.

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Housing Wire

AUGUST 12, 2020

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Among its dozens of limited partners are major banks, which are the kinds of customers Blend is servicing, Mayopoulus pointed out. Stay tuned for updates.

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Loans Banks Loan Officer Branding 508

Housing Wire

OCTOBER 15, 2021

The development teams inside of a lender’s business can implement the capabilities anyway they like, and configure it to their current digital experience, tech stack, and use case, Bhat explained. They also offer a home equity platform for home equity loan applications and HELOCs under the same umbrella.

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