Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic.

Banks 369

Banks Lending Finance Investor 369

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

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 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

MARCH 23, 2022

This is the second new non-QM product the Pontiac-based lender has launched this month – the wholesale lender also unveiled a bank statement loan product for self-employed borrowers. According to UWM, the product called Investor Flex is a 30-year fixed Debt-Service Coverage Ratio (DSCR) loan option for real estate investors.

Investor 397

Investor Loans Equity Banks 397

Housing Wire

SEPTEMBER 26, 2023

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. “[Our goal is ] Having a unified platform that can serve all the products that a bank can offer.

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

NOVEMBER 14, 2024

stock market, companies like Finance of America (FOA) and Ellington Financial — the parent of reverse lender Longbridge Financial — have recently released their third-quarter 2024 earnings results. These moves, he said, helped demonstrate to investors that the company had its priorities clearly in mind.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

MAY 21, 2024

This increased demand is resulting in tighter credit spreads for private label, non-QM RMBS securitizations; increased prices for a broad range of mortgage loans including seconds, home equity agreements, bridge loans, and alternative documentation loans; and strategic transactions between investors and originators.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

MARCH 13, 2023

Following the collapse of Silicon Valley Bank last week, the biggest bank failure since Washington Mutual in 2008, two other American banks with significant roles in the housing industry were hit by a deposit run. California-based First Republic Bank, the 14th-largest U.S.

Banks 370

Banks Mortgages Marketing Investor 370

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 370

Banks Debt-to-income ratio Lending Loans 370

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 370

Finance Marketing Lending Loans 370

Housing Wire

JULY 26, 2023

Dubbed “Investors Flex,” the non-QM product for real estate investors, offered purchase and refinance loans up to $2 million that could be used to finance up to 20 properties by using each property’s monthly rental income to qualify. UWM originated $38.8 billion in mortgage loans in the first quarter of 2022, a 29.7%

Investor 370

Investor Closing costs Loans Mortgages 370

Housing Wire

JUNE 15, 2023

National mortgage loan subservicer Cenlar FSB announced on Thursday that it has named the Thomas Donatacci as its investor relations officer. He is expected to strengthen Cenlar’s relationships with stakeholders in this role, including agency investors, shareholders, clients, and rating agencies. territories.

Investor 369

Investor Due diligence Loans Banks 369

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

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 468

Loans Investor Banks Finance 468

Housing Wire

OCTOBER 18, 2024

“We have an investor who won’t do any deals in Florida or near major bodies of water.” 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). “I’m not surprised. Condos are hard.

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

SEPTEMBER 5, 2024

In this executive conversation, Steven Katz, Executive Vice President and Chief Investment Officer of Residential Financing at Arbor Realty Trust, shares his thoughts on the burgeoning build-to-rent (BTR) market. SK: Construction lending is extremely complex, and in which banks have traditionally been the dominant players.

Marketing 476

Marketing Construction Investor Finance 476

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

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 515

Banks Lending Loans Principal 515

Housing Wire

FEBRUARY 3, 2021

Pacific Western Bank , the wholly owned subsidiary of PacWest Bancorp , announced Tuesday it had acquired Civic Financial Services , a private money lender that caters to real estate investors. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market.

Banks 410

Banks Lending Investor Loans 410

Housing Wire

JANUARY 3, 2025

As a result, modular construction has become the most effective solution for addressing developers needs for sustainability and business integrity, while avoiding costly premiums that decelerate value for housing investors and buyers within todays tight lending market.

Development 435

Development Construction Finance Investor 435

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 434

Mortgages Marketing Banks Investor 434

Housing Wire

JULY 15, 2024

Baltimore -based Dominion Financial Services , a nationwide private lender that specializes in financing for real estate investors , announced the hiring of Dustin Wells as the president of its newly launched wholesale lending division. Wells has more than 20 years of experience in the financial services arena.

Lending 429

Lending Finance Loans Construction 429

Housing Wire

JULY 11, 2024

Today’s market conditions help illustrate the case for green, factory building as an effective solution for developers , especially for those who’ve put projects on hold due to rising interest rates and dried up investor pools. Energy efficient homes open the door to new and better financing options. homes across the U.S.

Development 434

Development Construction Finance Investor 434

Housing Wire

SEPTEMBER 22, 2020

LIBOR is being phased out almost a decade after regulators discovered traders were manipulating the rate set by Britan’s biggest banks. regulators have been working for years to replace the rate with another benchmark such as the Secured Overnight Financing Rate, or SOFR, which tracks the U.S.

Mortgages 487

Mortgages Banks Equity Loans 487

Housing Wire

MARCH 3, 2021

The programs include MAXEX Sustainable, which allows borrowers to finance green energy renovations into their 30-year fixed mortgage, and allows for residential solar panels and geothermal units to be amortized in the loan at the point of purchase or refinance. Both programs are offered for loan values from $400,000 to $3 million.

Loans 468

Loans Banks Residential Finance 468

Housing Wire

DECEMBER 30, 2024

In the 16 years since the peak of the Global Financial Crisis, the structured products industry has transformed from a market dominated by large banks to one with space for new players. A more rigid regulatory framework created by Dodd-Frank and other post-GFC era legislation put investors at ease.

Banks 396

Banks Due diligence Residential Investor 396

Housing Wire

FEBRUARY 12, 2024

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. The financials of the deal were not disclosed. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

Lending 455

Lending New Construction Construction Finance 455

Housing Wire

OCTOBER 5, 2023

“This is a watershed moment for many different reasons as now these [HEAs] can start to become more of a mainstream asset class that a significant number of investors will want to participate in. Unlike banks and credit unions, nonbanks can’t hold these [home equity] loans on their balance sheets. …

Equity 448

Equity Purchase and sale agreement Marketing Lending 448

Housing Wire

OCTOBER 24, 2024

My mom and stepdad went into pre-foreclosure,” said Sandoval, a real estate agent and investor who specializes in working in low-income, often Latino neighborhoods in Southern California. “I Often, the best available option for staying in the home is through a loan modification or some other type of repayment plan with the bank.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

SEPTEMBER 11, 2023

Prior to this new position, she served as the chief investor and industry relations officer of Home Point Financial Corporation. Meanwhile, Greenberg was promoted to senior vice president of finance where he will oversee investor relations, financial planning, analysis, data analytics and treasury.

Investor 418

Investor Finance Banks Industrial 418

Housing Wire

FEBRUARY 8, 2024

Bloomberg also reported that several banks, including JPMorgan Chase & Co. and Bank of America Corp. have held talks to provide as much as $8 billion to finance a buyout of DocuSign.

Sales 459

Sales Banks Technology Finance 459

Housing Wire

JULY 23, 2021

3-month bank statement. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. The 3-month bank statement program is ideal for borrowers with nontraditional income streams. Jumbo products. Fix’n’flip. Fix’n’flip.

Marketing 459

Marketing Banks Lending Loans 459

Housing Wire

JULY 5, 2022

Specialty finance company Redwood Trust Inc. CoreVest provides financing to real estate investors across the country and as of late June boasted more than $15 billion in loans closed and some 125,000 units financed, according to the lender. billion single-family and multifamily loans nationwide.

Finance 418

Finance Investor Loans Lending 418

Housing Wire

AUGUST 21, 2020

The asset-buying has helped to drive mortgage financing costs to the lowest level ever recorded, with the average U.S. When there is competition for mortgage bonds, investors have to take smaller yields, which translates into lower interest rates for consumers.

Investor 482

Investor Mortgages Banks Finance 482

Housing Wire

AUGUST 15, 2023

Lind points to Finance of America Mortgage , First Guarantee Mortgage Corp. I think we’re seeing more business today because of what’s going on with the regional banks, the PacWests of the world, who we’re competing with for loans on a daily basis, just as an example,” Lind said. They have tightened their belts.

Lending 370

Lending Banks Investor Loans 370

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 million), investor Freddie Mac ($3.4 million), and the Internal Revenue Service ($942,797).

Bankruptcy 444

Bankruptcy Banks Investor Principal 444