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.

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Banks Mortgages Marketing Lending 476

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.

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Lending Banks Equity Technology 459

Housing Wire

SEPTEMBER 14, 2023

Real estate investment trust Redwood was founded in the early 1990s as the need for more private investors in the mortgage market grew. “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

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Equity Banks Investor Residential 417

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

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Equity Lending Loans Banks 397

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. Investors, meanwhile, are leveraging the option to expand their property portfolios. There’s more demand than supply,” he added.

Equity 395

Equity Debt-to-income ratio Mortgages Investor 395

Housing Wire

DECEMBER 12, 2022

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. Figure Acquisition Corp. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV.

Banks 435

Banks Mortgages Due diligence Technology 435

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023.

Banks 369

Banks Lending Finance Investor 369

Housing Wire

NOVEMBER 14, 2024

Executive leaders there pointed to the performance of the company’s proprietary loan products and trends in the Home Equity Conversion Mortgage ( HECM ) space as favorable. These moves, he said, helped demonstrate to investors that the company had its priorities clearly in mind.

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Investor Mortgages Bankruptcy Equity 370

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 397

Equity Marketing Fixed-rate mortgage Finance 397

Housing Wire

MARCH 23, 2022

This is the second new non-QM product the Pontiac-based lender has launched this month – the wholesale lender also unveiled a bank statement loan product for self-employed borrowers. According to UWM, the product called Investor Flex is a 30-year fixed Debt-Service Coverage Ratio (DSCR) loan option for real estate investors.

Investor 397

Investor Loans Equity Banks 397

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 24, 2021

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. Led by venture capitalist firm Signal Fire as well as existing seed investors Y Combinator and DN Capital , Accept.inc said it plans to use the funding to scale its platform, double its team size and enter new markets.

Equity 417

Equity Proof of funds Pre-approval Investor 417

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.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

SEPTEMBER 26, 2023

On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day. “[Our goal is ] Having a unified platform that can serve all the products that a bank can offer.

Banks 448

Banks Mortgages Loans Investor 448

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

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

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Investor Sales Mortgages Loan Officer 389

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

FEBRUARY 28, 2024

Specific factors include higher debt-to-income ratios, self-employed borrowers who can’t qualify using tax returns, less than seven years out of a credit event such as a foreclosure, or real estate investors with more than 10 properties. There are high income and high-net-worth self-employed borrowers and real estate investors in every town.

Debt-to-income ratio 458

Debt-to-income ratio Mortgages Banks Investor 458

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. Cangemi said in a statement that the bank’s deposit ratings remain “investment grade” at other credit rating agencies.

Mortgages 467

Mortgages Banks Marketing Commercial 467

Housing Wire

AUGUST 27, 2020

Federal Reserve Chairman Jerome Powell on Thursday announced a major shift in monetary policy that will allow the central bank to use inflation averaging, rather than the current practice of setting a hard target. Inflation fears also boost yields on Treasuries, which are used as a benchmark for MBS investors.

Mortgages 508

Mortgages Banks Investor Lending 508

Housing Wire

JULY 1, 2024

By 2024, in addition to owning more than double their share of all real estate, the Top 20% of incomes held 87% of all corporate equities and mutual funds. Equity management firm Carta found that most employees do not exercise stock because of cost and financial risk.

Equity 531

Equity Banks Finance Investor 531

Housing Wire

JANUARY 28, 2021

That’s a significant downsizing from the $250 million its private equity backers planned to raise through the sale of 12.5 Home Point Capital itself is not selling any shares in the offering, but funds affiliated with its private equity backer Stone Point Capital are cashing out. million dollars in its IPO on Friday.

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Equity Loans Lending Banks 534

Housing Wire

OCTOBER 24, 2024

My mom and stepdad went into pre-foreclosure,” said Sandoval, a real estate agent and investor who specializes in working in low-income, often Latino neighborhoods in Southern California. “I Often, the best available option for staying in the home is through a loan modification or some other type of repayment plan with the bank.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually. times at the end of 2023.

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Principal Investor Banks Mortgages 482

Housing Wire

FEBRUARY 15, 2024

Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio. So we’ll look for him to leverage his relationships into access to investors. Shant has an incredible network. That’ll be a big part.

Loan Officer 434

Loan Officer Commercial Investor Banks 434

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand.

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Loans Banks Equity Bankruptcy 544

Housing Wire

SEPTEMBER 10, 2024

8VC led the latest equity investment with participation from existing investors Menlo Ventures , Meritech , Khosla Ventures and Fifth Wall. 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 444

Mortgages Technology Banks Loans 444

Housing Wire

SEPTEMBER 22, 2020

For home equity conversion mortgages, known as reverse mortgages, the ban starts Jan. LIBOR is being phased out almost a decade after regulators discovered traders were manipulating the rate set by Britan’s biggest banks. Treasury’s repo market where investors offer banks overnight loans backed by their bond assets.

Mortgages 487

Mortgages Banks Equity Loans 487

Housing Wire

OCTOBER 22, 2021

The funding consists of $20 million in equity and $30 million in debt, UpEquity said in a statement. Other investors included Next Coast Ventures , BP Capital Management , Alumni Ventures , Gaingels, Launchpad Capital, and Early Light Ventures. million in equity and $17.5 UpEquity has raised a total of $77 million to date.

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Investor Equity Mortgages Closing 434

Housing Wire

DECEMBER 30, 2024

In the 16 years since the peak of the Global Financial Crisis, the structured products industry has transformed from a market dominated by large banks to one with space for new players. A more rigid regulatory framework created by Dodd-Frank and other post-GFC era legislation put investors at ease.

Banks 396

Banks Due diligence Residential Investor 396

Housing Wire

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

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Industrial Banks Lending Equity 448

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.

Banks 515

Banks Lending Loans Principal 515

Housing Wire

MAY 24, 2021

Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. 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.

Land 448

Land Lending Technology Banks 448

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

OCTOBER 2, 2024

Mullen explains that in the 1980s, investment firms focused on securitizing small assets to make them available for institutional investors. Burns follows up with a question on how Pretium’s construction lending platform sets them apart, as well as the company’s interest in land banking. Mullen shares that the company raised $1.5

Lending 459

Lending Banks Loans Residential 459

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.

Bankruptcy 467

Bankruptcy Banks Development Loans 467

Housing Wire

JANUARY 5, 2023

Interest rate stability offers the best environment for MBS performance, and inflation reduces the demand that investors have for mortgage-backed bonds. This, in turn, led to a drop in collateral that was available to support securitizations in both the agency and non-agency secondary markets. RMBS at DBRS Morningstar said in a report.

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Marketing Equity Loans Investor 476