Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The bank was followed by Flagstar, with $11.8 billion in volume and a 12.3%

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Loans Mortgages Due diligence Banks 468

Housing Wire

OCTOBER 23, 2023

From a data lens, transactions can be broken out into three different stages: Valuation , Due Diligence , and Contract. Valuation – The valuation stage can also be considered the preliminary due diligence stage. Once an offer is accepted, the full due diligence stage commences.

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Due diligence Brokerage Staging Agents 448

Housing Wire

JANUARY 23, 2024

The Santa Ana, California-based financial services company provides solutions including due diligence services, property valuations, mortgage fulfillment and consulting and advisory services.

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Due diligence Residential Real-estate owned Lending 468

Housing Wire

APRIL 18, 2024

Non-QM vigilance Pamela Hamrick, president of Incenter Diligence Solutions , which provides due-diligence reviews and document management services for the mortgage industry, said that prefunding reviews are also gaining more traction in the nonqualified mortgage ( non-QM ) space. “And

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Loans Due diligence Investor Technology 448

Housing Wire

OCTOBER 29, 2020

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: How do Trelix services help users minimize risks and perform loan due diligence?

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Due diligence Mortgages Title search Loans 435

Housing Wire

APRIL 22, 2021

“Plus, we’re a due diligence state, so right now if you don’t go way over listing price and offer a substantial due diligence price, there’s no point in even submitting an offer.” ” The current average due diligence is around 3.1% Thankfully, most banks were still lending.

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Due diligence Renovation Lending Land 459

Housing Wire

JUNE 3, 2024

State regulators, investors, creditors, business partners, and the public in general conducting due diligence or research are expected to use the information available. As a result, many banks, credit unions, and mortgage companies are known to regulators, but some nonbank firms are still not licensed or registered.

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Due diligence Banks Mortgages Lending 480

Housing Wire

NOVEMBER 30, 2021

We’ve grown in excess of 100 employees already in two-and-a-half quarters, that’s underwriters,” said John Levonick, CEO of Charlotte-based Canopy , a third-party due-diligence (TPR) firm that started doing business in the second quarter of 2021. And there’s just no way for due-diligence to really compete with that.”.

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Due diligence Mortgages Loans Residential 435

Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. There were enough significant findings to make these loans unsalable. Covid challenges.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? After all, while principals, investors and banks may not be clamoring to get into the title business for CRE transactions, not many title agencies do it well, and many of those only know certain markets.

Commercial 448

Commercial Brokerage Due diligence Title 448

Housing Wire

SEPTEMBER 6, 2022

The most straightforward method for understanding a consumer’s ability to make a mortgage payment is analyzing the funds going in and out of their bank each month. With natural language processing mining a consumer’s bank data, lenders can take major monthly expenses like childcare into account when determining credit eligibility.

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Due diligence Banks Finance Technology 476

Housing Wire

MAY 16, 2023

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. in January 2020, growing to a portfolio of over 180 community banks and credit unions. The financial terms of the transaction have not been disclosed.

Mortgages 418

Mortgages Due diligence Banks Technology 418

Housing Wire

MAY 22, 2023

Setpoint , a real estate funding platform, acquired Resolute Diligence Solutions to support proptech and single-family rental re-engagement in the market, the firm said.

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Due diligence Title Banks Closing 435

Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 UBS was allegedly aware of these significant problems because it had conducted extensive due diligence on the underlying loans prior to the RMBS being issued to determine whether the loans were consistent with representations that would be made to investors.

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Due diligence Banks Loans Investor 370

Housing Wire

JUNE 15, 2023

Donatacci has extensive experience in servicing transactions and subservicing, due diligence, and M&A. The company has a client base that includes banks, credit unions, and mortgage bankers. Cenlar FSB, headquartered in Ewing, New Jersey services loans in 50 states and U.S. territories.

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Investor Due diligence Loans Banks 369

Housing Wire

SEPTEMBER 13, 2023

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae ’s or Freddie Mac ’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes. “So,

Due diligence 418

Due diligence Marketing Loans Mortgages 418

Housing Wire

MARCH 16, 2022

Founded in 2015, Maxwell uses artificial intelligence to accelerate the mortgage process for over 300 community lenders, banks, and credit unions. Maxwell looks to digitize the entire mortgage transaction with fulfillment, payments, and due diligence solutions. Are digital closings really worth it? Presented by: Notarize.

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Due diligence Loans Technology Lending 397

Housing Wire

APRIL 26, 2022

As far as a borrower is concerned, they just have a home loan, and they make a payment just like they normally would from their bank account, or they also can make it from their crypto [currency] wallet.”. LauraMac is a software as a service, or SaaS, firm that provides due-diligence automation tools for the secondary market.

Mortgages 476

Mortgages Due diligence Equity Loans 476

Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., Michael Franco, CEO of SitusAMC , which provides due-diligence services to RMBS issuers, said market dynamics have played a major role in the dominance of jumbo-loan securitizations in the private-label market this year.

Loans 435

Loans Due diligence Residential Mortgages 435

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. There was so much information to absorb and retain.

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Due diligence Loan Officer Banks Industrial 397

Housing Wire

JANUARY 5, 2023

After its due diligence, Sprout would send a “cleared to purchase” confirmation, which is what happened with a $7,581,712 package of loans originated from January to March 2022, according to Loan America. The mortgage lender has started to respond to some of these claims, denying its allegations. .

Loans 459

Loans Due diligence Loan Officer Mortgages 459

Housing Wire

JANUARY 5, 2022

SitusAMC, a leading provider of services and technology to the real estate industry, controls some 60% to 70% of the due-diligence loan-review market, according to its CEO, Michael Franco. In terms of competition, Franco added that the private-label market is now largely uncharted territory with respect to loan-defect insurance.

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Due diligence Marketing Loans Mortgages 418

Housing Wire

NOVEMBER 30, 2020

In his capacity as fund manager, he was responsible for deal origination, leading all due diligence activities and reporting to an Investment Committee based in Hong Kong. In addition to his venture capital experience, Selman has 15 years of investment banking experience and, more recently, spent 10 years as a tech entrepreneur. . “I

Technology 370

Technology Mortgages Due diligence Commercial 370

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans.

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Due diligence Marketing Mortgages New Construction 435

HomeLight

JANUARY 14, 2025

Do your due diligence Carefully evaluate cash-for-home companies before committing to any offers. Always request proof of funds, such as a bank statement, to ensure they have the financial capability to complete the transaction. You can also contact your local office, the BBB serving the Fall Line Corridor, Inc.

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Proof of funds Sales Due diligence Banks 95

Housing Wire

MAY 13, 2022

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. But this future is still taking shape. Clearly the place and room for this transformational technology is opening up.

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Due diligence Technology Title Banks 371

Housing Wire

MAY 10, 2022

Scott McNulla , a senior director overseeing regulatory compliance at loan due-diligence firm SitusAMC , said one way to guard against or spot red flags in the mortgage origination and/or securitization pipeline that can cause problems down the road is to ensure the loan-input data is correct from the start. Million — [Tampa, Florida].

Mortgages 418

Mortgages Marketing Loans Finance 418

HomeLight

NOVEMBER 28, 2024

Do your due diligence If you’ve found a cash buyer you’re considering selling your house to, it’s important to thoroughly vet that company or individual to make sure they’re legitimate. Ask the cash buyer for proof of funds—this could be a bank statement or an official letter from the financial institution showing the account balance.

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Proof of funds Due diligence Sales Investor 111

HomeLight

JANUARY 14, 2025

Do your due diligence Before committing to a cash-for-homes company, take the time to research thoroughly. Always request proof of funds, such as a bank statement, to verify the buyers financial capability. If you dont already have an agent, HomeLight can connect you with top professionals in Boston.

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Proof of funds Sales Due diligence Banks 97

Housing Wire

AUGUST 11, 2020

And now, thanks to these reforms, we live in an era of far greater mortgage banking controls and stability. But despite what’s at stake for minority communities, they have so far refused to perform such basic due diligence.

Due diligence 448

Due diligence Loans Mortgages Development 448

Housing Wire

APRIL 20, 2022

Non-bank lenders that originate to sell loans will appreciate how quickly eNotes can move on and off warehouse lines and, ultimately, to investors. Conduct due diligence on the experience and connectivity of potential eVault partners. How do you pick the right one for your specific requirements?

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Lending Due diligence Technology Investor 396

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. bank accounts to various locations in West Africa via wire transfers.

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Industrial Banks Title Technology 397

Marco Santarelli

OCTOBER 13, 2024

My recommendations are based on publicly available data, but you should always conduct your own thorough due diligence. Fortune 500 Hub: Charlotte is home to the headquarters of nine Fortune 500 companies, including Bank of America and Duke Energy, further solidifying its strong financial and energy sectors.

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Investor Marketing Due diligence Finance 122

HomeLight

JANUARY 23, 2025

Do your due diligence Before moving forward with a cash sale, its important to thoroughly vet potential home-buying companies. Always request proof of funds, such as a bank statement, to confirm the buyers ability to close the deal. Check reviews on platforms like the Better Business Bureau , Google, Yelp, or Trustpilot.

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Proof of funds Sales Due diligence Banks 98

Housing Wire

APRIL 20, 2021

.” From the Mortgage Bankers Association (MBA): “While MBA supports the ongoing development of such tools, MBA also acknowledges the need for appraisers and lenders to provide some level of oversight and due diligence to preserve the overall quality of the data referenced in future valuations.

Technology 418

Technology Lending Due diligence Industrial 418

Housing Wire

JANUARY 13, 2023

The third deal in motion, also backed in part by investment properties, is now undergoing due-diligence review. It is an estimated 470-loan securitization — with no value yet assigned in the due-diligence documents filed with the U.S. Securities and Exchange Commission. in June to 6.5%

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Marketing Investor Due diligence Loans 448