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One mortgage lender abandons the Florida condo market

Housing Wire

In particular it’s created a glut of 30-plus-year-old units on the market, with few takers. 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).

Mortgages 524
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Opinion: Bank capital requirements would put squeeze on mortgage market

Housing Wire

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
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Secondary market for construction financing could help spur multifamily developments

Housing Wire

“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.

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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 is a consumer and business banking company owned by US Bancorp. Bank is based in Minneapolis. John Hummel Prior to joining U.S.

Banks 452
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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 446
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Portrait of a pre-foreclosure peacemaker

Housing Wire

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.

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Has your banking partner come of age?

Housing Wire

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 432