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 369

Lending Banks Mortgages Loan Officer 369

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

Banks 370

Banks Loan Officer Loans Lending 370

Housing Wire

OCTOBER 31, 2024

This is in line with some other proprietary reverse mortgages and seven years lower than the age requirement for the Home Equity Conversion Mortgage (HECM) program offered by the Federal Housing Administration (FHA). But FOA contends that HomeSafe Second represents a better value proposition than a traditional HELOC.

Mortgages 425

Mortgages Equity Loan Officer Loans 425

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 440

Lending Mortgages Equity Loan Officer 440

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 410

Equity Banks Investor Residential 410

Housing Wire

NOVEMBER 20, 2024

The new hires “underscore Rate’s commitment to enhancing financial solutions tailored to the unique needs of this demographic, empowering them to leverage their home equity for a more comfortable and secure retirement,” the company said. PRMI) and The Federal Savings Bank. “I

Industrial 354

Industrial Mortgages Lending Loan Officer 354

Housing Wire

NOVEMBER 16, 2022

trillion in loans, about half of 2021’s $4.4 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. loan officers] in pods.’”.

Banks 436

Banks Mortgages Loan Officer Due diligence 436

Housing Wire

JUNE 2, 2023

based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. When banks engage in redlining, they perpetuate existing patterns of segregation and widen the racial wealth gap in our country.

Banks 322

Banks Lending Loan Officer Loans 322

Housing Wire

SEPTEMBER 27, 2023

Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. However, the bank denies the allegations.

Banks 459

Banks Lending Loan Officer Equity 459

Housing Wire

OCTOBER 11, 2023

The integration of CoreLogic’s AutomatIQ Borrower Income Analysis, SmartFees and property data into the DMP interface will allow loan officers can obtain crucial information about borrowers and properties at the outset of the process, CoreLogic noted. “By It then tailors that data to the home-buying process.

Mortgages 440

Mortgages Loan Officer Banks Lending 440

HomeLight

SEPTEMBER 16, 2024

As a result, you might be sitting on a significant amount of home equity, and you’re not alone — U.S. homeowners collectively hold around $32 trillion in equity. If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?”

Equity 110

Equity Loans Loan Officer Lending 110

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. CCBank, founded in 1993, had nearly $871 million in total assets and $127 million in equity capital at the end of 2023.

Mortgages 456

Mortgages Loan Officer Banks Equity 456

Housing Wire

APRIL 8, 2022

Dubbed Reverse TCA, the integrated presentation will enable all loan officers to educate consumers with borrowing terms for reverse mortgages and features such as flexible disbursement options in comparison to traditional mortgages, Mortgage Coach, a fintech focused on attracting and retaining mortgage borrowers, said in a news release.

Mortgages 398

Mortgages Loan Officer Equity Loans 398

Housing Wire

MARCH 19, 2024

New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award. Morgan , Bear Stearns , and Lehman Brothers.

Equity 419

Equity Loan Officer Principal Loans 419

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. 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.

Loan Officer 425

Loan Officer Commercial Investor Banks 425

Housing Wire

AUGUST 9, 2024

Mortgage tech firm Blend Labs delivered another loss in the second quarter of 2024 even as it signed deals with new customers across the mortgage and consumer banking channels. Blend’s platform segment includes its mortgage banking suite, which experienced a revenue decrease of 17% year over year to $18.5 million in Q2 2024.

Banks 431

Banks Loan Officer Loans Title 431

Housing Wire

SEPTEMBER 25, 2024

loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. McKenna continued, “​​We work with probably eight of the top 15 independent mortgage banks out there, and the large ones are going to be hiring.

Industrial 458

Industrial Mortgages Loan Officer Loans 458

Housing Wire

AUGUST 17, 2023

5000 – is a mortgage broker and partners with other lenders to generate leads for VA, FHA, purchase, refi and personal loans. At a time when refis dried up and loan officers are in desperate need of deals, some loan officers are leaning into buying leads — from companies including Zillow , Realtor.com and Freerateupdate.com.

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. Department of Veteran Affairs (V.A.)

Mortgages 398

Mortgages FHA loan Loan Officer Banks 398

Housing Wire

APRIL 18, 2024

Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. The lender will work to keep bringing academic experts together to continue compiling and sharing data about the use — and potential use cases — of home equity in retirement.

Equity 451

Equity Loan Officer Mortgages Industrial 451

Eye on Housing

AUGUST 3, 2022

In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans. Read More ›

Lending 103

Lending Banks Loan Officer Loans 103

Housing Wire

OCTOBER 23, 2024

Cash-out refis have gained popularity due to record-high home equity levels in recent years. As for the product’s mortgage rates, Elezaj said they are more competitive than HELOCs (home equity lines of credit), traditionally a market dominated by credit unions and depository banks. How much will borrowers pay?

Equity 450

Equity Loans Mortgages Loan Officer 450

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. HW: How has the proptech space evolved in the last 5-10 years?

Backup offer 447

Backup offer Loan Officer Home sale contingency Branding 447

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

Mortgages 493

Mortgages Lending Banks Residential 493

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 436

Industrial Mortgages Loan Officer Banks 436

Housing Wire

OCTOBER 12, 2023

By deploying customer intelligence from Total Expert — a customer engagement platform for financial institutions — Mountain West Financial will provide automated alerts that notify its loan officers in real-time when a customer’s behavior or financial situation signals they’re a good candidate for a home loan, Total Expert said.

Loan Officer 449

Loan Officer Lending Loans Equity 449

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

Mortgages 477

Mortgages Loan Officer Loans Equity 477

Eye on Housing

MAY 10, 2022

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Banks 116

Banks Loans Loan Officer Lending 116

Housing Wire

JUNE 14, 2024

However, a record $17 trillion of home equity is still available in the market. So how can you leverage this massive amount of equity? For example, bank statement HELOCs serve self-employed borrowers, who might not qualify for traditional products. Housing sales have slowed due to waning supply and record-high prices.

Loans 450

Loans Banks Equity Development 450

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 trillion in the second quarter of 2022, capitalizing on home equity loans and home equity line of credit (HELOC). non-Bank financial institutions at Fitch Ratings.

Marketing 529

Marketing Equity Loans Bankruptcy 529

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Loan officers working for depository banks are not bound by the same requirements.

Loan Officer 397

Loan Officer Pre-qualification Banks Lending 397

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Tapping that equity. ” Just a little less vanilla.

Mortgages 420

Mortgages Equity Loans Seller concession 420

Housing Wire

DECEMBER 2, 2024

According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), the company grew its endorsement volume by roughly 870% year to date through July. But he also credits his two decades in consumer banking as a factor that can help push things forward.

Lending 221

Lending Loan Officer Branding Mortgages 221

Housing Wire

JUNE 22, 2022

UWM’s price-matching guarantee included competitors such as Amerisave, Amwest Funding , NewRez/Caliber Home Loans , Cardinal Financial, Carrington Mortgage Services , Citizen Bank/Franklin American , CMG , Equity Prime Mortgage , Finance of America Mortgage , Flagstar Bank , Freedom Mortgage Corp.,

Loans 461

Loans Loan Officer Banks Mortgages 461

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. That’s going to be a new market for me Lonnie Glessner, loan officer at Draper and Kramer Mortgage Corp.

Mortgages 398

Mortgages Loan Officer Loans Equity 398

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. He’s not limboing as low as possible on rates but is stacking fees on top or structuring refis to eat up equity.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

SEPTEMBER 28, 2022

The executive was most recently chief executive officer at mortgage marketing firm Volly. He also had a stint as chief information officer of mortgage and home equity lending at Bank of America. . Its total loan acquisitions and originations came in at $26.7 in 2021, compared to 2.3%

Mortgages 396

Mortgages Loan Officer Lending Loans 396