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 403

Banks Commercial Loans Investor 403

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. Ally is considering expanding the program to more markets in the future. “By

Banks 437

Banks Closing costs Lending Equity 437

Housing Wire

JANUARY 11, 2022

Unlike other HousingWire awards, Finance Leaders focuses specifically on corporate finance, secondary marketing, capital markets or strategic finance executives within mortgage banking or a real estate brokerage only. The post Nominations for HousingWire’s Finance Leaders award are now open!

Finance 402

Finance Residential Title Mortgages 402

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 463

Banks Loan Officer Lending Loans 463

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

Finance 403

Finance Lending Title Mortgages 403

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. They took a $1.8

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

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 30 to $4.20

Mortgages 448

Mortgages Banks Marketing Commercial 448

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 370

Mortgages Banks Marketing Residential 370

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 370

Finance Lending Mortgages Renovation 370

Housing Wire

JULY 23, 2024

Melissa Perez, a former director of operations at First Republic Bank , has joined Dunmor as senior vice president of operations. Prior to joining Dunmor, Perez led a team of more than 120 employees across six offices at First Republic Bank. She also held prior leadership roles at Prospect Mortgage , Citinet Mortgage and Countrywide.

Lending 416

Lending Banks Residential Construction 416

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgages 415

Mortgages Marketing Banks Investor 415

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. But over the last ten years, Bank OZK, a small bank from Arkansas, has grown to become one of the most powerful financiers of large real estate projects in the U.S. Bank OZK has humble roots.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

JULY 11, 2022

Depository bank Citi has bolstered its mortgage business with the hire of industry veteran Darin Lugat, following a reorganization of its mortgage divisions to align with the bank’s retail operations. The bank funded $6.7 billion in residential mortgages during the period, a decrease of 2.5% quarter-over-quarter and 17.2%

Lending 370

Lending Marketing Banks Residential 370

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 388

Equity Marketing Fixed-rate mortgage Finance 388

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. Anchor Loans was acquired by investment firm Pretium in November 2021.

Loans 451

Loans Investor Banks Finance 451

Marco Santarelli

JUNE 9, 2024

The FDIC Problem Bank List is a confidential list maintained by the Federal Deposit Insurance Corporation (FDIC) in the US. It identifies banks that are considered to be at risk of failing financially. Identification Process: Banks are assigned a CAMELS rating by FDIC examiners. These banks hold a combined total of $82.1

Banks 128

Banks As-is Land Residential 128

Housing Wire

MAY 30, 2024

Coldwell Banker Realty , a New England-based residential real estate brokerage , welcomed The DelRose McShane Team , the brokerage announced on Wednesday. No one else compares when it comes to brand recognition and tools to market our clients’ homes. also serves as a trustee at Watertown Savings Bank. Led by Mike DelRose Sr.,

Brokerage 441

Brokerage Residential Commercial Development 441

Housing Wire

JANUARY 15, 2021

Wells Fargo , the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020. decline from the prior quarter , when the bank originated $61.6 billion the San Francisco-based bank originated in the fourth quarter of 2019. billion in residential mortgages, a 12.5%

Mortgages 421

Mortgages Marketing Banks Residential 421

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi was the 19th-largest residential mortgage lender in America by origination volume in the first half of the year, according to a data analysis by Inside Mortgage Finance.

Mortgages 388

Mortgages Banks Lending Residential 388

Housing Wire

JUNE 20, 2024

(FDIC) — announced their approval of a final rule imposing quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers. AVMs, which value residential real estate used as collateral to secure mortgages, are under an interagency rulemaking process.

Residential 438

Residential Mortgages Banks Investor 438

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 416

Industrial Banks Residential Lending 416

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 370

Mortgages Banks Equity Residential 370

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.

Development 416

Development Construction Finance Investor 416

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Banks 370

Banks Commercial Lending Loans 370

Housing Wire

AUGUST 26, 2024

The dynamic has led to a repositioning of players in the market. Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets.

Mortgages 437

Mortgages Banks Debt-to-income ratio Loans 437

Housing Wire

FEBRUARY 12, 2024

residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

Lending 431

Lending New Construction Construction Finance 431

Housing Wire

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. Major factors that will shape the RMBS market include a dramatic reduction in origination volume and mortgage lenders exiting the business , according to a report from DBRS Morningstar on the outlook of the industry. .

Marketing 460

Marketing Equity Loans Investor 460

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We HousingWire reported on the restructuring last week, noting that the bank cut hundreds of jobs at Flagstar, according to laid off employees. New York Community Bancorp, Inc. billion in volume.

Mortgages 402

Mortgages Lending Banks Commercial 402

Housing Wire

AUGUST 4, 2023

Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. Over the month, a job gain in real estate and rental and leasing (+12,000) partially compensated for a loss in commercial banking (-3,000).

Marketing 364

Marketing Residential Construction Commercial 364

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 417

Marketing Fixed-rate mortgage Bankruptcy Mortgages 417

Housing Wire

JANUARY 17, 2023

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say.

Marketing 460

Marketing Banks Loans Mortgages 460

Housing Wire

MARCH 23, 2022

Add Homepoint to the list of lenders entering the non-QM market in 2022 amid a fall in origination volume. . The wholesale lender is preparing to launch two non-qualified mortgage products this year, including bank statement and investor cash flow loans. million. . .” million. . .”

Marketing 369

Marketing Investor Loans Banks 369

Marco Santarelli

JUNE 9, 2024

Whispers of a looming financial crisis have begun to circulate, casting a shadow over the once-assured stability of the US banking system. Headlines raise questions about bank insolvency, sparking anxieties among consumers and businesses alike. This article delves into the current state of the US banking system in 2024.

Banks 105

Banks Lending Loans Technology 105

Housing Wire

FEBRUARY 3, 2023

HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases. As labor and supply chain shortages also extend the timelines and budgets of projects, homeowners are favoring flexible financing options.

Renovation 388

Renovation Fixed-rate mortgage Equity Finance 388

Housing Wire

AUGUST 2, 2023

Its aggressive inflation-crushing policy extinguished the greatest refi market in history – these days, nearly 90% of residential mortgage originations are purchase loans. For this exercise, I’ll be relying on Inside Mortgage Finance data and looking at origination volume, purchase market share percentage and the lender’s overall mix.

Marketing 366

Marketing Lending Mortgages Residential 366

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. These ESG programs fill a significant void in the mortgage market by increasing incentives for green energy improvements.”.

Loans 451

Loans Banks Residential Finance 451