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. The interest rate on the loan has been lowered from 9.99% to 9.49%. The interest rate on the loan has been lowered from 9.99% to 9.49%.

Mortgages 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

MARCH 25, 2025

Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private real estate lending platform specializing in short-term bridge , fix-and-flip, construction and land development loans.

Lending 270

Lending Equity Banks Construction 270

Housing Wire

OCTOBER 30, 2024

A consent order signed by a Connecticut banking commissioner said that LoanSnap failed to notify the Nationwide Multistate Licensing System (NMLS) that its main address had changed. These actions include a Wells Fargo suit filed in Minnesota, where the bank sought more than $430,000 over an alleged breach of contract.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Hummel, who previously led the correspondent and Housing Finance Agency (HFA) business at U.S. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release.

Banks 457

Banks Lending Loan Officer Loans 457

Housing Wire

OCTOBER 24, 2024

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. “There is nothing like that face to face.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

JANUARY 7, 2025

Credit reporting errors can have serious consequences for a familys finances, and it is critical that credit reporting giants follow the law. The CFPB alleges that Experian routinely and uncritically accepted responses from banks, credit companies and debt collectors on consumer disputes, even when it was illogical on its face or unreliable.

Finance 418

Finance Banks Mortgages Loans 418

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

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 447

Banks Lending Equity Commercial 447

Housing Wire

FEBRUARY 13, 2024

New York-based mortgage lender Logan Finance Corp. Established in 1949, Logan Finance Corp. offers conventional mortgage products as well as nonagency loans its through correspondent , wholesale and retail channels. Logan Finance Corp. named Sarah Gonzalez as its chief operating officer.

Finance 475

Finance Lending Banks Loans 475

Housing Wire

NOVEMBER 13, 2024

Smith will lead teams across sales, operations, finance, servicing and corporate functions at the South Carolina-based mortgage lender that originated about $16 billion in mortgage loans from January to September, up 2.7% compared to the same period last year, according to Inside Mortgage Finance (IMF).

Mortgages 370

Mortgages Loan Officer Finance Lending 370

Housing Wire

JANUARY 8, 2025

The settlement, announced Wednesday by the Conference of State Bank Supervisors , involves 53 state financial regulatory agencies. It includes Bayview and three of its affiliates, Lakeview Loan Servicing , Community Loan Servicing and Pingora Holdings. Lakeview was the third-largest U.S.

Staging 418

Staging Loans Mortgages Banks 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 468

Loans Mortgages Due diligence Banks 468

Housing Wire

JANUARY 28, 2025

Apollo orchestrated this transaction and now our partnership through Newfi provides the financing needed to grow this business and scale it to a higher level. It’s a complete financing solution that helps us ramp up and scale our production in the BPL sector. Would you say that the majority of these are smaller investors?

Residential 364

Residential Lending Finance Banks 364

Housing Wire

MARCH 17, 2025

In the ongoing lawsuit by Texas Capital Bank (TCB) seeking to recoup assets related to an extinguished reverse mortgage securities issuer, Ginnie Mae has fired back by continuing to seek a summary judgment. Congress clearly laid out Ginnie Maes authority to pool backing securities that the company guarantees, the bank argued.

Banks 360

Banks Loans Mortgages Title 360

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

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. Western Alliance Bank transformed this model over a decade ago.

Banks 434

Banks Lending Finance Mortgages 434

Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This could make the overall cost to entry — which is already low — more digestible.

Construction 488

Construction Finance Development Marketing 488

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. To Coleman’s surprise, Owen says that one in four condo buyers use cash instead of financing.

Finance 448

Finance Agents Mortgages Loan Officer 448

Housing Wire

JANUARY 14, 2025

HousingWires Mortgage Rates Center showed that the average 30-year conforming loan rate was 7.15% on Tuesday, up 6 basis points (bps) from a week ago. The 15-year conforming loan rate averaged 7.34% on Tuesday up an astonishing 23 bps in the past week. This is also the highest rate since June 2024. Economic activity is robust.

Mortgages 418

Mortgages Banks Loans As-is 418

Housing Wire

OCTOBER 25, 2024

Minneapolis -based mortgage lender Luminate Home Loans has decided to shutter its NEO Home Loans division, which transitioned to the firm two years ago, the company announced on Friday. The mortgage firm, which has been in business since 1998, is a subsidiary of Luminate Bank.

Loans 435

Loans Closing Banks Lending 435

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. Virgin Islands.

Loans 534

Loans Finance Mortgages Land 534

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. billion in loans. Let’s be clear.

Loans 448

Loans Mortgages Banks Lending 448

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 468

Banks Equity Mortgages Loans 468

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

NOVEMBER 14, 2024

Meanwhile, Rettinger joined Pennymac in 2010 after holding leadership roles at Bank of America and HSBC. billion in mortgage loans from January to September, up 8.8% compared to the same period in 2023, according to Inside Mortgage Finance (IMF) estimates. billion in mortgage loans from January to September, up 8.8%

Mortgages 370

Mortgages Loan Officer Loans Banks 370

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

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 27, 2025

Another day, another series of policy changes at the Federal Housing Finance Agency ( FHFA ). ” On Thursday, Pulte directed the Federal Home Loan Banks (FHLBanks) to rescind a 2024 bulletin that provides guidance for managing climate-related risks. ” He noted that additional frameworks create unnecessary expenses.

Inspection 293

Inspection Banks Lending Loans 293

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

FEBRUARY 10, 2025

The lender’s wholesale division is now offering a nonqualified mortgage ( non-QM ) loan product suite aimed at serving consumers who have outside-the-box financial profiles. ” Cardinal Financial’s non-QM suite will kick off with four loan products. . billion in non-QM loans through a proprietary product suite.

Loans 333

Loans Finance Investor Mortgages 333

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

FEBRUARY 11, 2025

Mortgage lending, small business loans, and investments in local development projects are all driven by local lenders who know their markets, live in their communities, and have a vested interest in the growth of their economies. The availability of funding at the local level is the driving force in building stronger communities.

Lending 393

Lending Development Banks Loans 393

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 447

Banks Lending Loans Finance 447

Housing Wire

SEPTEMBER 4, 2024

Bosman and Kulvin each have decades of experience in real estate finance and “will strengthen Pretium’s investment team as the firm continues to expand its impact in the residential financial ecosystem,” the company said in its announcement. The firm hired Brendan Bosman, a former senior managing director and head of U.S.

Finance 448

Finance Residential Investor Lending 448

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

DECEMBER 4, 2024

. “As the market stabilizes, I look forward to helping clients achieve their home financing goals with the support of Rate’s unparalleled technology and commitment to low rates.” Most recently, Lindsay served as a mortgage loan officer at U.S. Rate is the second-largest retail mortgage lender in the U.S.

Lending 397

Lending Mortgages Loan Officer Loans 397