Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. of banks reported to have tightened standards on government residential mortgages, the report showed. Responses were received from 62 domestic banks and 19 U.S.

Lending 497

Lending Banks Mortgages Loan Officer 497

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. Institutions can finance their SFR mortgage loans through the Federal Home Loan Banks (FHLB) system and major money center banks, further enhancing their liquidity positions.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. regulators. mortgage industry are in the past.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

NOVEMBER 10, 2023

While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 475

Lending Equity Banks Loans 475

Housing Wire

AUGUST 8, 2024

Christopher George, the founder of California-based multichannel mortgage lender CMG Financial , has struck a deal to acquire Greenwoods Financial Group , the owner of Greenwoods State Bank. Greenwoods State Bank will be owned by a single individual, pending regulatory approval and board vote.” advised Greenwoods State Bank.

Banks 468

Banks Equity Mortgages Loans 468

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

JULY 16, 2024

Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. BofA’s loan production in the home equity arena also increased on a quarterly basis.

Banks 432

Banks Mortgages Equity Loans 432

Housing Wire

JANUARY 17, 2025

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. That is bad news for banks like WaFd Bank, because it has made the business of originating mortgages for our portfolio unsustainable.

Lending 370

Lending Banks Mortgages Commercial 370

Housing Wire

OCTOBER 23, 2024

According to ATTOM’s third quarter 2024 Home Equity and Underwater Report, 48.3% are considered equity rich. saw a remarkable surge in their equity , gaining an impressive $28,000 on average. According to CoreLogic, total home equity skyrocketed to an astounding $33.8 of mortgaged residential properties in the U.S.

Equity 432

Equity Banks Staging Residential 432

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Equity 448

Equity Purchase and sale agreement Marketing Lending 448

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 441

Equity Mortgages Banks Commercial 441

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits.

Banks 448

Banks Mortgages Loan Officer Loans 448

Housing Wire

NOVEMBER 7, 2023

In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market.

Banks 476

Banks Mortgages Marketing Lending 476

Housing Wire

FEBRUARY 10, 2021

Freddie Mac announced Wednesday the creation of new leadership roles in order to address equity in housing in single- and multifamily housing businesses. Freddie Mac appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing. Pamela Perry.

Equity 529

Equity Fixed-rate mortgage Investor Development 529

Housing Wire

JANUARY 8, 2025

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. Through Aspire, launched in September 2023, Redwood directly originates home equity investments (HEIs).

Equity 411

Equity Loans Lending Investor 411

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. Figure and the banks declined to comment. JP Morgan Chase & Co. and Jefferies Financial Group Inc.

Lending 459

Lending Banks Equity Technology 459

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

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. The bank’s plan also includes $2.8

Banks 447

Banks Lending Loans Finance 447

Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads.

Equity 448

Equity Mortgages Banks Loans 448

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 459

Banks Closing costs Lending Equity 459

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.

Equity 459

Equity Loans Bankruptcy As-is 459

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The home equity loans balance was $24.7 The residential mortgage loan balance for First Internet was $383.9 million. “The

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

APRIL 19, 2024

Ginnie Mae also claims that TCB has not exhausted all available “administrative remedies,” that the bank lacks standing “because the claimed injury is not redressable by the powers” of the court, and that the “extinguishment of the collateral is committed to agency discretion.” Attorneys for the U.S.

Banks 468

Banks Title Equity Development 468

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 426

Banks Mortgages Equity Development 426

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

Equity 448

Equity Lending Closing costs Development 448

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.

Equity 418

Equity Banks Investor Residential 418

Housing Wire

OCTOBER 18, 2024

New York Community Bancorp (NYCB) this week announced that it rebranded to Flagstar Bank , laid off 700 employees and anticipated the transition of another 1,200 to Mr. Cooper Group as part of the sale of its third-party origination (TPO) business and mortgage servicing rights (MSRs). In many cases, roles were similar or duplicative.

Banks 448

Banks Sales Commercial Equity 448

Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. Equity Unlocker is currently available in Florida, New York and Washington state.

Equity 397

Equity Pre-approval Loans Finance 397

Housing Wire

OCTOBER 21, 2024

An effort seeking summary judgment in a case brought by Texas Capital Bank (TCB) against Ginnie Mae over reverse mortgage-related collateral has been denied by presiding Judge Matthew Kacsmaryk, according to a court filing reviewed by HousingWire ’s Reverse Mortgage Daily (RMD).

Banks 448

Banks Equity Mortgages Loans 448

Housing Wire

NOVEMBER 1, 2024

According to Davis, rising home prices have led homeowners to tap into their equity for purposes such as debt consolidation , home renovation and student loan repayment. Deephaven believes it’s ahead of competitors on this offering because it offers full-documentation and bank-statement options.

Equity 396

Equity Debt-to-income ratio Mortgages Investor 396

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 370

Banks Lending Mortgages Equity 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. . $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.

Banks 445

Banks Loans Bankruptcy Mortgages 445

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

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

JANUARY 30, 2024

District Court for the Northern District of Texas that aims to temporarily halt the evidence-gathering process in a lawsuit brought by Texas Capital Bank (TCB) against Ginnie Mae. Department of Justice (DOJ) have filed a motion in the U.S. This is according to court documents reviewed by RMD.

Banks 435

Banks Loans Equity Mortgages 435

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

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.

Equity 476

Equity Lending Technology Banks 476