Housing Wire

OCTOBER 17, 2024

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). FHFA Director Sandra Thompson lauded the development in a statement accompanying the report.

Banks 459

Banks Loans Development Finance 459

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.

Technology 448

Technology Banks Mortgages Equity 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

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. Greenwoods State Bank will be owned by a single individual, pending regulatory approval and board vote.” advised Greenwoods State Bank.

Banks 468

Banks Equity Mortgages Loans 468

Housing Wire

SEPTEMBER 27, 2024

In a recent episode of “The Loan Officer Podcast,” host Dustin Owen and guest John Coleman explore key tips that all aspiring real estate agents should know when navigating mortgage financing for a potential client. Warrantable condos are easier to finance, while non-warrantable condos and condotels are typically harder to fund.

Finance 446

Finance Agents Mortgages Loan Officer 446

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 468

Banks Mortgages Lending Loan Officer 468

Housing Wire

SEPTEMBER 12, 2024

The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors. The bank will pay $7.76 Regulators will need to focus major attention on TD Bank to change its course.”

Banks 414

Banks Bankruptcy Finance Mortgages 414

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. Roughly 24 hours after filing an objection to the U.S. The Government’s motion should accordingly be denied.”

Banks 441

Banks Bankruptcy Lending Finance 441

Housing Wire

OCTOBER 25, 2024

FormFree , a mortgage fintech founded in the midst of the Global Financial Crisis by Brent Chandler, is putting the customer in control of their own data, a practice known as “open banking” that could transform lending. Lapin said FormFree operates within an open banking framework, a relative rarity in the mortgage industry.

Banks 459

Banks Mortgages Lending Industrial 459

Housing Wire

AUGUST 14, 2024

Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse ’s U.S. According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. servicing business, expected to close in the first quarter of 2025, benefits the bank by reducing costs and lowering risk for its balance sheet.

Banks 435

Banks Closing Principal Residential 435

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. Responses were received from 62 domestic banks and 19 U.S.

Lending 497

Lending Banks Mortgages Loan Officer 497

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options.

Lending 448

Lending Banks Loans Renovation 448

Housing Wire

JULY 18, 2024

” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. bank account is also created to help the investor manage the property remotely, including through fast currency exchange capabilities.

Finance 447

Finance Investor Banks Residential 447

Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And Potential partnerships Home equity investments are likely to become essential to the home finance product marketplace. And that has already started to happen,” Craft said.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 480

Banks Loan Officer Lending Loans 480

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 497

Residential Lending Banks Mortgages 497

Housing Wire

JANUARY 6, 2025

HousingWire Vanguard Sarah Gonzalez has taken on a new role at Logan Finance Corporation as chief innovation officer. Logan offers a range of non-QM products, including DSCR, AUS jumbo and bank statement loans. Gonzalez formerly served as Logan’s chief operating officer, a position she started in February 2024.

Finance 414

Finance Lending Loans Banks 414

Housing Wire

JULY 11, 2024

A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. government.

Banks 430

Banks Bankruptcy Mortgages Lending 430

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 458

Banks Closing costs Lending Equity 458

Housing Wire

OCTOBER 31, 2024

The Federal Housing Finance Agency (FHFA) on Thursday said it will aim to simplify the process of funding affordable housing projects through the Federal Home Loan Banks (FHLBanks). The advisory bulletin came in response to comments by sponsors that have called the process too cumbersome.

Finance 343

Finance Banks Staging Loans 343

Housing Wire

APRIL 10, 2024

The FDIC supervises approximately 3,000 state-chartered banks and thrifts not members of the Federal Reserve System. However, the second part of the test revealed that these financial institutions did not develop enough compliance initiatives to determine whether the payments were reasonably related to the services’ value.

Banks 447

Banks Brokerage Mortgages Loans 447

Housing Wire

DECEMBER 11, 2024

The material featured came from a workshop hosted by Fannie Mae and the Federal Reserve Bank of Philadelphia , which highlighted research assessing the impact of demographic shifts, including the aging U.S. population, on housing demand, according to the report.

Finance 370

Finance Development Equity Banks 370

Housing Wire

AUGUST 29, 2024

Presidents and board chairs of the 11 Federal Home Loan Banks (FHLBanks), under pressure to pump more money into affordable housing, sent letters to the U.S. This system lent billions of dollars to Silicon Valley Bank , Signature Bank and First Republic Bank before these banks collapsed in 2023.

Banks 435

Banks Finance Development Loans 435

Housing Wire

JANUARY 21, 2025

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Escobar, who is the 2025 MBA Chair and president of Lennar Mortgage , encouraged Hoffman to expand the program at Cleveland State where Hoffman was already teaching.

Banks 370

Banks Mortgages Lending Loans 370

Housing Wire

AUGUST 15, 2024

Toronto-based Bank of Nova Scotia , which operates as Scotiabank , has hired a group of JPMorgan Chase Bank executives to lead a new mortgage capital markets business that expects to launch this fall. Inside Mortgage Finance (IMF) and Bloomberg first reported on the topic. The bank was followed by Flagstar Bancorp (11.5%

Mortgages 447

Mortgages Banks Finance Lending 447

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We

Mortgages 448

Mortgages Banks Finance Branding 448

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 467

Loans Mortgages Due diligence Banks 467

Housing Wire

JULY 9, 2024

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, This transition is said to build on other recent efforts by FHLBank Chicago to expand the availability of mortgage financing.

Banks 399

Banks Finance New Construction Construction 399

Housing Wire

MAY 21, 2024

This market stability is compelling several long-term investors, including banks and insurance companies, to increase their mortgage allocations as they reduce allocations to commercial real estate and business lending. These loans often require higher capital reserves, making residential mortgages more attractive by comparison.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

APRIL 19, 2024

But it could face challenges due to the lack of a robust securitization market, according to strategists at Bank of America (BofA). “Financing options are particularly important given the increasing share of second liens originated by non-depositories,” the strategists wrote in the report.

Equity 488

Equity Finance Loans Banks 488

Housing Wire

MARCH 29, 2024

Federal Home Loan Bank reform is in the air in Washington D.C. The White House recently endorsed a plan to double FHLBanks’ mandatory contributions to affordable housing programs from 10 to 20% of their net income, following a recommendation by the Federal Housing Finance Agency. billion, as dividends !

Banks 468

Banks Loans Development Finance 468

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. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 billion in mortgages in 2023.

Mortgages 467

Mortgages Banks Marketing Commercial 467

Housing Wire

OCTOBER 18, 2024

The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023. It also indicated that the banks gave $134.6

Banks 422

Banks Development Finance Loans 422

Housing Wire

SEPTEMBER 10, 2024

about the 2023 Basel III Endgame proposal , which would modify risk-based capital requirements for large banks. He also described increasing aggregate common equity tier 1 capital requirements for the global systemically important banks (G-SIB) by 9%, and increasing capital requirements for non-GSIB firms subject to the rule by 0.5%.

Banks 448

Banks Lending Finance Loans 448

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. This insurance protects lenders against losses.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

OCTOBER 18, 2024

Some owners of older condo units have had to list at prices far below what they bought the units for because special assessments are so high (and are difficult to finance). This could result in the local community banks and credit unions providing the financing, likely with maximum loan-to-value ratios of 80% or less.”

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Alongside Gallo, Mehmet Elmas was also named in the complaint, filed by a special agent working under the Office of the Inspector General (OIG) at the Federal Housing Finance Agency (FHFA).

Mortgages 543

Mortgages Loans Banks Finance 543