Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived.

Equity 367

Equity Lending Closing costs Mortgages 367

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 455

Banks Commercial Residential Lending 455

Housing Wire

MARCH 20, 2024

Figure Lending LLC is now operating under the umbrella of Figure Technology Solutions , independent of CEO Mike Cagney ’s Figure Technologies. The launch of Figure Technology Solutions comes a few months after Bloomberg reported that Figure Technologies was working with multiple investment banks — including Goldman Sachs Group Inc. ,

Lending 362

Lending Equity Technology Banks 362

Housing Wire

APRIL 27, 2021

A homebuyer report from Bank of America shows that 51% of young homebuyers aged 18 to 43 value community and friendly neighbors when deciding whether or not to pull the trigger on a new home. “Nearly half — 46% — said that building equity is now more important than ever. .

Equity 475

Equity Banks Lending Renovation 475

Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

Technology 419

Technology Banks Mortgages Equity 419

Housing Wire

SEPTEMBER 4, 2024

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. Keynova’s report reviewed the digital capabilities and user experiences at 12 of the top bank and nonbank lenders in the country. Bank and Wells Fargo.

Equity 386

Equity Lending Banks Loans 386

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

AUGUST 31, 2023

NexTier , the holding company of NexTier Bank , will acquire Mars Bancorp , the holding company of Mars Bank. The combined company and branch locations will operate under the NexTier Bank brand, both banks said in a release Thursday. With the acquisition, NexTier Bank will have total assets in excess of $2.6

Banks 336

Banks FHA loan Lending Equity 336

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. of banks reported weaker demand for HELOCs.

Lending 316

Lending Banks Mortgages Loan Officer 316

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 424

Banks Mortgages Marketing Lending 424

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 327

Banks Lending Mortgages Equity 327

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 offering documents.

Equity 392

Equity Purchase and sale agreement Marketing Lending 392

Housing Wire

JUNE 6, 2024

Mortgage lending in the U.S. reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% All major mortgage lending categories sustained losses, the report said. Home-equity credit lines slipped 9%, to 222,000.

Lending 413

Lending Mortgages Residential Loans 413

Housing Wire

MAY 7, 2024

Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. TPO is the bank’s main source of mortgages.

Banks 344

Banks Equity Lending Commercial 344

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

Equity 386

Equity Loans Banks Title 386

Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. Launched in 2012, Blend raised $300 million in January 2021, not long after it introduced a series of consumer banking tools.

Equity 411

Equity Lending Banks Development 411

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 410

Equity Lending Closing costs Development 410

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 423

Residential Equity Mortgages Purchase and sale agreement 423

Housing Wire

SEPTEMBER 23, 2024

Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments.

Lending 350

Lending Mortgages Equity Loan Officer 350

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

Banks 401

Banks Mortgages Lending Commercial 401

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 275

Banks Lending Finance Investor 275

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.

Equity 387

Equity Loans Lending Banks 387

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. A decline in MCAI, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase in the index suggests a loosening of credit. billion in 2022 from last year’s $4.4

Lending 361

Lending Loans Equity Mortgages 361

Housing Wire

APRIL 15, 2022

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020. The bank will assess its progress and disclose it annually. compared to 2020.

Equity 378

Equity Banks Lending Mortgages 378

Housing Wire

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”.

Lending 446

Lending Mortgages Marketing Loans 446

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 359

Lending Finance Banks Equity 359

Housing Wire

APRIL 21, 2022

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead. So I say keep the guidance coming, because we are building it and we hope the lending community will come.”. Notwithstanding all of the guidance, we still hear concerns of legality from lenders,” Perry said.

Lending 435

Lending Finance Principal Development 435

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 368

Equity Loans Banks Lending 368

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 341

Banks Lending Loans Finance 341

Housing Wire

JANUARY 8, 2024

There is currently a lack of guardrails to prevent the formation of monopolies in the mortgage lending industry, and this is where regulators have a prominent role to play. Many first-time homebuyers can be barred from the entire lending process due to outdated and antiquated methodologies, including credit reporting.

Equity 436

Equity Lending Technology Banks 436

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 344

Lending Loan Officer Finance Loans 344

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 318

Banks Mortgages Equity Loans 318

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 358

Equity Marketing Fixed-rate mortgage Finance 358

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 358

Banks Closing costs Lending Equity 358

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. Cagney’s attempt to bring blockchain technology to mortgage lending at scale dates back to August 2021.

Lending 292

Lending Technology Pre-approval Equity 292

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 380

Banks Mortgages Loan Officer Loans 380

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 340

Equity Marketing Debt-to-income ratio Lending 340