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

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. This left a void in the mortgage lending market, which was filled by IMBs.

Banks 418

Banks Mortgages Loans Investor 418

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Wasmund is also the former CEO of Genesis Capital , which was sold by Goldman Sachs in 2021 to New Residential Investment Corp. , now known as Rithm Capital.

Construction 459

Construction Development Loans Lending 459

Housing Wire

MAY 22, 2024

Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement.

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Lending Development Loan Officer Finance 444

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

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 479

Banks Loan Officer Lending Loans 479

Housing Wire

SEPTEMBER 19, 2024

Department of Housing and Urban Development (HUD) and the U.S. Department of Justice (DOJ) announced this week that they have secured a $15 million conciliation agreement with New Jersey-based OceanFirst Bank to settle allegations of discriminatory redlining in certain neighborhoods with majority Black, Hispanic and Asian populations.

Banks 443

Banks Lending Loans Loan Officer 443

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 434

Banks Mortgages Technology Branding 434

Housing Wire

AUGUST 5, 2022

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Those agencies oversee banks, and are tasked with ensuring banks do not redline , by enforcing the Community Reinvestment Act.

Banks 448

Banks Debt-to-income ratio Lending Loans 448

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. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 443

Banks Lending Loans Finance 443

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

OCTOBER 17, 2024

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). FHFA Director Sandra Thompson lauded the development in a statement accompanying the report.

Banks 459

Banks Loans Development Finance 459

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 467

Banks Title Equity Development 467

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. Last year, Change Lending ranked as the top nonqualified mortgage (non-QM) originator, posting $4.1

Lending 447

Lending Banks Loans Renovation 447

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. Ginnie Mae exceeded its statutory authority because TCB’s interests are in HECM tails rather than mortgage pools,” the filing reads.

Banks 414

Banks Mortgages Equity Development 414

Housing Wire

NOVEMBER 13, 2023

. $700 billion in taxpayer funds were authorized to help stabilize the economy in free fall in the wake of the Lehman bankruptcy and a mortgage market meltdown. 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.

Banks 439

Banks Loans Bankruptcy Mortgages 439

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. The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program.

Banks 438

Banks Bankruptcy Lending Finance 438

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. at the time of its 2022 bankruptcy.

Banks 427

Banks Bankruptcy Mortgages Lending 427

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.

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

JUNE 17, 2024

loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. billion in mortgages, down from $5.3 billion in mortgages, down from $5.3 Before joining the company, she worked for Bank of America , JPMorgan Chase and Compass Bank.

Lending 447

Lending Mortgages Banks Closing 447

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. And it has more than doubled its customer partner base to include some of the country’s biggest banks, credit unions and mortgage lenders, according to the firm.

Mortgages 441

Mortgages Technology Banks Loans 441

Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Bank, Citi and Bank of America looking to expand the ranks of LOs.

Mortgages 476

Mortgages Banks Brokerage Loans 476

Housing Wire

NOVEMBER 19, 2024

John Rogers is a well-known name in the world of mortgage and real estate data analysis. 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. million deficit of homes.

Land 370

Land Development Banks Investor 370

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank will cut 11 jobs in July and 114 in August, according to Worker Adjustment and Retraining Notification (WARN) notices submitted to the Iowa Workforce Development.

Mortgages 435

Mortgages Lending Banks Industrial 435

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 434

Mortgages Banks Equity Land 434

Housing Wire

OCTOBER 28, 2021

The average 30-year-fixed mortgage rate continues to trend upwards, rising by five basis points to 3.14% for the week ending Oct. Mortgage rates are also rising, but purchase demand remains firm, showing that latent purchase demand exists among consumers,” he added. Treasury bonds and mortgage-backed securities.

Mortgages 497

Mortgages Fixed-rate mortgage Banks Development 497

Housing Wire

OCTOBER 7, 2021

The average 30-year-fixed mortgage rate slipped back down to 2.99% for the week ending Oct. Mortgage rates typically move in tandem with the ten-year U.S. Mortgage rates continue to hover at around three percent again this week due to rising economic and financial market uncertainties,” said Khater. Presented by: Deluxe.

Mortgages 501

Mortgages Fixed-rate mortgage Banks Development 501

Housing Wire

MARCH 11, 2024

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. is a software development company that offers a digital loan origination system and POS for the mortgage industry. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 448

Mortgages Loan Officer Loans Banks 448

Housing Wire

JANUARY 31, 2024

Dark Matter Technologies (DMT) tapped Tony Fox, former director of ICE Mortgage Technology , as its new chief of client engagement. Fox was director of client management at I CE Mortgage Technology for four months after the firm acquired Black Knight in September 2023. He will report to Sean Dugan, chief revenue officer at DMT.

Mortgages 435

Mortgages Technology Banks Development 435

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

Housing Wire

APRIL 10, 2024

The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have signed onto a memorandum of understanding to formally share information between each other related to nonbank mortgage companies. Department of Housing and Urban Development (HUD) in 2013.

Mortgages 436

Mortgages Finance Development Banks 436

Housing Wire

SEPTEMBER 16, 2021

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%. Presented by: Deluxe.

Fixed-rate mortgage 497

Fixed-rate mortgage Mortgages Lending Loans 497

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. The systems merely indicate whether an applicant’s mortgage would be eligible for purchase by Fannie or Freddie.

Mortgages 457

Mortgages Equity Banks Loans 457

Housing Wire

DECEMBER 16, 2021

The average 30-year-fixed rate mortgage increased to 3.12% during the week ending Dec. 16, up from 3.10% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.67%. Rising mortgage rates have already begun to sap demand. in the same period.

Fixed-rate mortgage 516

Fixed-rate mortgage Mortgages Lending Banks 516

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023. Perez on Oct.

Debt-to-income ratio 418

Debt-to-income ratio Mortgages Loan Officer Banks 418

Housing Wire

MARCH 29, 2023

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. The 10-year U.S.

Mortgages 435

Mortgages Pre-approval Banks Loan Officer 435