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FHFA says Federal Home Loan Banks have offered more support to affordable housing efforts

Housing Wire

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
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Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

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 447
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Logan Finance Corp. hires new COO

Housing Wire

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 473
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U.S. Bank appoints new retail lending leader

Housing Wire

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 450
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Flagstar Bank makes changes to TPO leadership

Housing Wire

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 444
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NYCB to sell $5B in mortgage warehouse loans to JPMorgan

Housing Wire

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
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Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

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%).