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. In 2023, the company added Homebridge Financial Services ‘ retail division in March and Shamrock Home Loans ’ origination team in November.

Banks 466

Banks Equity Mortgages Loans 466

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 448

Technology Banks Mortgages Equity 448

Housing Wire

APRIL 19, 2024

A Freddie Mac home equity product that was proposed this week has the potential to unlock $850 billion in origination volume. But it could face challenges due to the lack of a robust securitization market, according to strategists at Bank of America (BofA). trillion on sub-4% loans, keeping the CLTV below 75%,” the group added.

Equity 488

Equity Finance Loans Banks 488

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 370

Equity Loans Banks Mortgages 370

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. billion in home loans. Home equity loan originations came in at $2.4

Banks 419

Banks Mortgages Equity Loans 419

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 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Lending 470

Lending Equity Banks Loans 470

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. branches and agencies of foreign banks.

Lending 494

Lending Banks Mortgages Loan Officer 494

Housing Wire

MAY 7, 2024

Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Hoffman has spent more than 30 years in mortgage banking, 22 of them at Flagstar, where he started as an account executive. TPO is the bank’s main source of mortgages. Last year’s volume declined 29.5% billion last year, down 41.6%

Banks 441

Banks Equity Lending Commercial 441

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; 5.7%).

Loans 465

Loans Mortgages Due diligence Banks 465

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 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

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

Equity 396

Equity Lending Title search Title 396

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 444

Banks Equity Mortgages Loans 444

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

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 418

Equity Loans Banks Title 418

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. Figure originated $900 million in loans and generated $2.7

Lending 456

Lending Banks Equity Technology 456

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. “The

Equity 446

Equity Mortgages Banks Loans 446

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 421

Equity Mortgages Banks Commercial 421

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. How could they ever justify walking away from a loan with this low of an interest rate ?

Equity 459

Equity Loans Bankruptcy As-is 459

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.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

JULY 1, 2024

Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. Freddie Mac has long purchased cash out refinances , which give homeowners whose homes have appreciated in value the ability to access some of the equity in their home. billion in loans.

Loans 445

Loans Mortgages Banks Lending 445

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. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 439

Banks Lending Loans Finance 439

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

Construction 459

Construction Development Loans Lending 459

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 397

Equity Loans Lending Banks 397

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. The annual investment volume in the U.S.

Equity 467

Equity Finance Purchase and sale agreement Investor 467

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

Equity 397

Equity Lending Loans Banks 397

Housing Wire

AUGUST 23, 2023

-based Regions Bank $2.95 The Board fined Regions “for its failure to effectively monitor a portfolio of home equity loans for compliance with flood insurance regulations due to changes in loan servicing platforms and third-party service providers,” noting that the bank had a pattern of individual violations of flood insurance regulations.

Banks 368

Banks Equity Loans Residential 368

Housing Wire

OCTOBER 10, 2024

Similar to past experiences, Hurricane Helene may lead to 5% of mortgage borrowers in affected areas becoming delinquent but eventually self-curing over the next 12 months, according to a Bank of America (BofA) analysis. Researchers used Harvey, Irma and Ida as references for prior hurricanes and their impacts on the RMBS market.

Loans 375

Loans Equity Principal Residential 375

Housing Wire

OCTOBER 17, 2022

Bank of America delivered increases in revenues and net income in the third quarter of 2022, showing that some of its business lines were not walloped by high levels of inflation and economic contraction. Overall, the bank recorded $7.1 billion in home equity loans. Bank originated $15.6 billion from $2.5

Banks 416

Banks Mortgages Equity Loans 416

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 368

Banks Mortgages Equity Loans 368

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 370

Lending Banks Mortgages Loan Officer 370

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

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 residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 448

Banks Mortgages Lending Commercial 448

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

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

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