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. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

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

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

Industrial 448

Industrial Banks Lending Equity 448

Housing Wire

SEPTEMBER 12, 2023

MBA cannot control macroeconomic forces, but what we can do is make sure the actions of policymakers help our industry instead of hindering it at a crucial time,” Broeksmit said at the organization’s Compliance and Risk Management Conference this week in Washington, D.C. John Rose (R-TN)’s effort to curb trigger leads, he said.

Industrial 435

Industrial Banks Finance Commercial 435

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

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The last day for fundings is April 28, the regional bank said in an e-mailed response.

Lending 397

Lending Banks Finance Loans 397

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion in fully funded cash proceeds from the global investment firm Atlas SP Partners through a new senior asset-backed financing facility.

Banks 418

Banks Commercial Loans Investor 418

Housing Wire

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. Dickey brings more than two decades of financial industry experience to the position. A total of five additional senior account executives joined Dickey. market share in the TPO space.

Banks 447

Banks Mortgages Finance Sales 447

Housing Wire

APRIL 1, 2024

Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In 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

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

JANUARY 3, 2023

With nearly 40 years of experience in the real estate finance industry, Lowrie is widely known for making history in 2005 as the first female elected chair of the MBA. Her tenacity, resilience, and fierce advocacy for our industry will long be remembered by all those fortunate enough to have interacted with her.

Industrial 482

Industrial Mortgages Banks Residential 482

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

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 397

Banks Finance Commercial Technology 397

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. banks in comparison to international standards.

Industrial 438

Industrial Banks Residential Lending 438

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 434

Banks Mortgages Technology Branding 434

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% The increased awareness around these benefits have positioned brokers to be the obvious choice when it comes to consumer mortgage needs, keeping them competitive with large banks and retail lenders.

Industrial 476

Industrial Loan Officer Marketing Loans 476

Housing Wire

APRIL 4, 2023

But for potential homebuyers to benefit from new technology, the industry must figure out a way to keep bias out of decision-making models, experts said Monday. That’s something that will have to be overcome before we have wholesale adoption and use across the industry,” Stucky explained.

Industrial 435

Industrial Technology Banks Finance 435

Housing Wire

NOVEMBER 18, 2022

These trends have exacerbated industry overcapacity, leading to continual layoffs. This week, American Financing Corporation reduced employee headcount by almost two thirds and power buyer Homeward slashed 25% of its workforce as the companies faced headwinds. American Financing Corporation originated $4.13

Industrial 448

Industrial Loan Officer Loans Lending 448

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We It’s the first time that we’re now sharing free cash flow targets.

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 418

Banks Mortgages Loans Equity 418

Housing Wire

SEPTEMBER 25, 2024

However, the industry is approaching this cycle with caution. 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. As the hiring landscape in the mortgage industry evolves, so does compensation packages.

Industrial 459

Industrial Mortgages Loan Officer Loans 459

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 446

Mortgages Banks Finance Lending 446

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

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Hagen believes that rates below 6.25% would be supportive of the market.

As-is 482

As-is Industrial Mortgages Loans 482

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

NOVEMBER 27, 2023

Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. The industry would need to see a more persistent mortgage rate decline to near 6% for a more meaningful pickup in prepayment speeds, the note said.

Industrial 448

Industrial Mortgages Loans Banks 448

Housing Wire

NOVEMBER 7, 2023

On Tuesday, the Federal Housing Finance Agency (FHFA) released a report that examines the Federal Home Loan Bank (FHLBank) system, looking back at its 90-year legacy and offering a series of transformative goals the agency hopes to reach before its centennial in 2032.

Banks 427

Banks Finance Development Loans 427

Housing Wire

JANUARY 17, 2024

David Stevens, a legend of the mortgage banking industry who helmed the Federal Housing Agency and the Mortgage Bankers Association in a career that spanned four decades, has died. He added: “MBA and the entire industry will miss Dave’s voice, leadership, and friendship. This is a breaking new story. Check back for updates.

Loan Officer 493

Loan Officer Finance Lending Industrial 493

Housing Wire

OCTOBER 18, 2024

Provident, run by the Pica family, is known in the industry for its conservative approach and sports a better-than-average delinquency rate in its servicing portfolio, so it’s perhaps not a huge surprise it would exit such a choppy space. Messages left with Provident were not immediately returned on Friday.

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

MAY 15, 2024

VantageScore has released a pilot of its latest credit-scoring model , VantageScore 4 Plus, for banks, fintechs and government lenders. ” This includes recent immigrants and the those without bank accounts. credit score, which itself has up to an 8% lift over conventional scoring models.”

Lending 459

Lending Banks Finance Loans 459

Housing Wire

JULY 19, 2024

Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

Construction 459

Construction Development Loans Lending 459

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

MARCH 22, 2021

This month, United Wholesale Mortgage took the industry by surprise when it made a statement that it would block mortgage brokers from doing business with the company if they did business with either Quicken Loans or Fairway Mortgage. mortgage industry drives the best in consumer options and experience.

Banks 539

Banks Mortgages Loans Lending 539

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”. That was good for no.

Closing 501

Closing Lending Banks Equity 501

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy 466

Bankruptcy Banks Development Loans 466

Housing Wire

NOVEMBER 18, 2024

by a number of industry players. Department of Veterans Affairs (VA) and the Federal Home Loan Banks (FHLBs) in New York, Chicago and San Francisco. The initiative comes as the mortgage industry prepares for mandatory adoption of VantageScore 4.0 by October 2025, as required by the Federal Housing Finance Agency (FHFA).

Mortgages 412

Mortgages Principal Banks Loans 412

Housing Wire

SEPTEMBER 10, 2024

Reid has spent more than 40 years in the banking, real estate, capital markets and affordable housing spaces. ” Prior to joining PNC, Reid founded Beekman Advisors , where she worked with real estate finance executives and boards on strategic advice and the execution of mergers and acquisitions.

Finance 448

Finance Banks Mortgages Equity 448

Housing Wire

MAY 22, 2024

“Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement. Additionally, the people and culture at Certainty are unique, and I am excited to once again collaborate with industry colleagues and leaders who I’ve regarded so highly over years in the business.”

Lending 444

Lending Development Loan Officer Finance 444