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 397

Lending Banks Mortgages Commercial 397

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. A group of investors led by the former U.S.

Equity 427

Equity Mortgages Banks Commercial 427

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising.

Equity 488

Equity Lending Banks Loans 488

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 417

Banks FHA loan Lending Equity 417

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. According to Inside Mortgage Finance (IMF) estimates, Flagstar produced $14.2 lender in the space.

Banks 443

Banks Equity Lending Commercial 443

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 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 459

Equity Lending Banks Loans 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 residential mortgage loan balance for First Internet was $383.9

Banks 448

Banks Mortgages Lending Commercial 448

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 447

Equity Mortgages Banks Loans 447

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 2024, it acquired Norcom Mortgage ’s retail assets in April. mortgage lender, producing $11.8 advised Greenwoods State Bank.

Banks 467

Banks Equity Mortgages Loans 467

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

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 472

Lending Equity Banks Loans 472

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. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV.

Banks 434

Banks Mortgages Due diligence Technology 434

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. billion.

Equity 448

Equity Purchase and sale agreement Marketing Lending 448

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 23, 2024

According to ATTOM’s third quarter 2024 Home Equity and Underwater Report, 48.3% of mortgaged residential properties in the U.S. 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

Equity 425

Equity Banks Staging Residential 425

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 467

Equity Finance Purchase and sale agreement Investor 467

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. This left a void in the mortgage lending market, which was filled by IMBs.

Banks 418

Banks Mortgages Loans Investor 418

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. They have no other choice.

Equity 391

Equity Debt-to-income ratio Mortgages Investor 391

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% mortgage lender stated it produced a volume of $3.4 from the $3.9

Mortgages 448

Mortgages Banks Equity Commercial 448

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Who wants to be in the mortgage business? trillion to $1.7 trillion. trillion to $1.7

Banks 435

Banks Mortgages Loan Officer Due diligence 435

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 457

Lending Banks Equity Technology 457

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 455

Banks Closing costs Lending Equity 455

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.” In 2021, mortgage originations hit a record high of $4.4 Today, three of four mortgage loans are issued by independent mortgage companies.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

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. market share, according to Inside Mortgage Finance (IMF) estimates.

Loans 466

Loans Mortgages Due diligence Banks 466

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

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 431

Mortgages Equity Loan Officer Loans 431

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 434

Equity Loans Lending Investor 434

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. 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.

Banks 448

Banks Mortgages Loans Investor 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. The judge largely disagreed.

Banks 466

Banks Title Equity Development 466

Housing Wire

JANUARY 30, 2024

Atlanta-based nonqualified mortgage (non-QM) lender Angel Oak Mortgage Solutions is tapping into the home equity line of credit (HELOC) market amid elevated equity levels. Angel Oak’s HELOC product launch comes amid the still high equity levels across the country. from $490 billion in the second quarter.

Mortgages 468

Mortgages Equity Banks Loans 468

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

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.

Equity 415

Equity Banks Investor Residential 415

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

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital rules are applied to banks, according to BofA’s executives. Top-20 U.S.

Mortgages 439

Mortgages Banks Equity Lending 439

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 442

Banks Lending Loans Finance 442

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. mortgage lenders, produced $5.2

Mortgages 448

Mortgages Banks Lending Equity 448