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 445

Finance Agents Mortgages Loan Officer 445

Housing Wire

OCTOBER 25, 2024

A future glimpse into how mortgages will be created in 2035 can be found in an woodsy office park in Athens, Georgia. The company offers a product called Passport, which analyzes financial data provided by customers, such as banking history and recurring payments, to assess their ability to repay a loan. was only finalized this week.

Banks 459

Banks Mortgages Lending Industrial 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. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

Lending 496

Lending Banks Mortgages Loan Officer 496

Housing Wire

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. For more than 10 years, she served as vice president and regional manager for the Southeast at Citizens, formerly Franklin American Mortgage which was acquired in 2018.

Banks 447

Banks Mortgages Finance Sales 447

Housing Wire

MARCH 7, 2024

Powell acknowledged the mounting opposition to Basel III from the banking sector, assuring lawmakers of forthcoming broad revisions to the regulatory framework that is aimed at recalibrating risk assessment methodologies and capital reserves. banks to earmark billions more in capital reserves.

Banks 448

Banks Lending Residential Staging 448

Housing Wire

NOVEMBER 15, 2023

Providence, Rhode Island-based Citizens Bank , the 28th largest U.S. mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space.

Banks 468

Banks Mortgages Finance Brokerage 468

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

APRIL 10, 2024

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided. There are some caveats related to counseling services, referrals, and duplicative work.)

Banks 447

Banks Brokerage Mortgages Loans 447

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 2024, it acquired Norcom Mortgage ’s retail assets in April. mortgage lender, producing $11.8 advised Greenwoods State Bank.

Banks 467

Banks Equity Mortgages Loans 467

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 434

Banks Mortgages Technology Branding 434

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We experienced an inflation rate of 3.1% billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

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. primary mortgage servicer at the end of June, handling $166.7 According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S.

Banks 435

Banks Closing Principal Residential 435

Housing Wire

AUGUST 15, 2024

Toronto-based Bank of Nova Scotia , which operates as Scotiabank , has hired a group of JPMorgan Chase Bank executives to lead a new mortgage capital markets business that expects to launch this fall. Inside Mortgage Finance (IMF) and Bloomberg first reported on the topic. billion in Cleveland-based KeyCorp.

Mortgages 446

Mortgages Banks Finance Lending 446

Housing Wire

JANUARY 6, 2025

HousingWire Vanguard Sarah Gonzalez has taken on a new role at Logan Finance Corporation as chief innovation officer. Before joining Logan, Gonzalez served as president and COO at Panorama Mortgage Group. Gonzalez also sits on the Lender Member Board of Directors and is the 2025 Vice Chair-elect for The Mortgage Collaborative.

Finance 399

Finance Lending Loans Banks 399

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

SEPTEMBER 12, 2024

The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors. The bank will pay $7.76 Regulators will need to focus major attention on TD Bank to change its course.”

Banks 412

Banks Bankruptcy Finance Mortgages 412

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 467

Loans Mortgages Due diligence Banks 467

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.” There are many policy levers that must be pulled to get there,” the report reads. “A

Construction 488

Construction Finance Development Marketing 488

Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Alongside Gallo, Mehmet Elmas was also named in the complaint, filed by a special agent working under the Office of the Inspector General (OIG) at the Federal Housing Finance Agency (FHFA).

Mortgages 543

Mortgages Loans Banks Finance 543

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 It also had $84.3

Mortgages 466

Mortgages Banks Marketing Commercial 466

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 447

Lending Banks Loans Renovation 447

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 479

Banks Loan Officer Lending Loans 479

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 435

Banks Lending Loan Officer Loans 435

Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And And with rising home prices and the growing burden of traditional mortgage debt, homeowners are looking to tap into their home equity without taking on additional debt.”

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

OCTOBER 18, 2024

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). One Florida mortgage broker said the Provident exit gave him “a feeling that we will see other major lenders exiting the condominium market in Florida.

Mortgages 524

Mortgages Marketing Lending Finance 524

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 446

Finance Residential Investor Lending 446

Housing Wire

OCTOBER 17, 2024

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

Banks Loans Development Finance 459

Housing Wire

JULY 18, 2024

real estate with a fast, digital mortgage process. ” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. .” Miami -based startup Waltz Inc. A digital U.S.

Finance 447

Finance Investor Banks Residential 447

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 475

Investor Mortgages Banks Principal 475

Housing Wire

JULY 11, 2024

A magistrate judge overseeing requests in a case against Ginnie Mae brought by Texas Capital Bank (TCB) has granted each side’s respective requests for an extension — one for a partial summary judgment for TCB, and the other for a change in venue by attorneys for the U.S. government. at the time of its 2022 bankruptcy.

Banks 427

Banks Bankruptcy Mortgages Lending 427

Housing Wire

JANUARY 14, 2025

Mortgage rates continued their ascent this week after Fridays jobs report showed that employers added more positions than expected in December, which is likely to cement a pause on interest rate cuts by the Federal Reserve later this month. Merritt thinks mortgage lenders could take some comfort in that trend.

Mortgages 418

Mortgages Banks Loans Finance 418

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. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 456

Banks Closing costs Lending Equity 456

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)]. That is where the Freddie Mac second mortgage comes in.

Loans 447

Loans Mortgages Banks Lending 447

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. Rocket Mortgage had purchase origination volume of $47.5

Mortgages 488

Mortgages Marketing Lending Banks 488

Housing Wire

APRIL 17, 2024

Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. The pessimism is visible in mortgage rates. Freddie Mac ‘s weekly Primary Mortgage Market Survey is climbing back towards 7%.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% BofA’s mortgage assets Bank of America had $227.7 from the $3.9

Mortgages 448

Mortgages Banks Equity Commercial 448

Housing Wire

MARCH 29, 2024

Anna Frankowska was recognized in 2017 as one of Forbes’ “ 30 Under 30 ” in Europe, having studied economics in London before moving to work in investment banking. Personal ties Frankowska explained that her journey into the reverse mortgage sphere was primarily motivated by what she observed her parents going through as they got older. “My

Mortgages 481

Mortgages Finance Loan Officer Equity 481