Housing Wire

MARCH 26, 2024

The home equity prison Does this scenario sound familiar compared to the situations of the homeowners that you are encountering lately in your real estate business? If any of this resonates with your personal experience in the current market, you have officially entered the realm of interacting with homeowners in the post-pandemic economy.

Equity 459

Equity Loans Bankruptcy As-is 459

Housing Wire

JUNE 6, 2023

announced on Tuesday the promotion of two leaders in its wholesale bank division. Austin, who joined Cenlar in 2005, will be responsible for managing and mitigating default costs for the wholesale bank’s loans and mortgage servicing rights (MSR) portfolio. Its client base includes banks, credit unions, and mortgage bankers.

Banks 370

Banks Mortgages Development Loans 370

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Future rate increases would make the shortage even more severe as both builders and individual homeowners retreat further from the market.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

JULY 18, 2023

The Federal Reserve , Federal Depository Insurance Corporation and the Office of the Comptroller of the Currency , which together regulate large depository banks, are expected to unveil the proposed changes on July 27. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Banks 370

Banks Lending Mortgages Residential 370

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 397

Banks Marketing Mortgages As-is 397

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 397

Banks Loan Officer Loans Commercial 397

Housing Wire

SEPTEMBER 5, 2023

Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators. Investment banking company Keefe, Bruyette & Woods, Inc. according to Porch.

Bankruptcy 435

Bankruptcy Development Banks Industrial 435

Housing Wire

OCTOBER 3, 2024

The industry will see declining interest rates, new capital rules for nonbanks, new open banking rules under Section 1033, huge technology changes, a new tax bill, tens of billions in damage from hurricanes, new loan limits and artificial intelligence “storming into our business,” he said. . “Something needs to be done.”

Lending 358

Lending Loans Loan Officer Technology 358

Housing Wire

DECEMBER 1, 2021

McCord’s penalty is dwarfed by the $95 million that Cauthron found he cost local banks, financial institutions and homeowners, during his sentencing in the Western District of Oklahoma on Monday. McCord used escrow accounts, meant to pay homeowners’ taxes and insurance premiums, to cover his company’s operating expenses.

Mortgages 544

Mortgages Lending Banks Loans 544

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. So, not only do we have 40% plus of homes with no mortgage, the nested equity homeowners have now is almost unfair.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

NOVEMBER 7, 2024

It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Climate change is increasing the intensity and severity of natural disasters.

Design 482

Design Mortgages Lending As-is 482

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

Mortgages 448

Mortgages Banks Finance Branding 448

Housing Wire

MARCH 21, 2024

Compounding the lack of supply is the proverbial “lock-in“ effect that has disincentivized homeowners to sell their current properties, thereby giving up a low mortgage rate and taking on a new loan at a much higher rate. “A banks in comparison to international standards.

Industrial 448

Industrial Banks Residential Lending 448

Housing Wire

FEBRUARY 27, 2024

The practice of redlining , initiated in the 1930s, where banks and insurers refused services to entire neighborhoods based on racial composition, further entrenched these disparities. Despite this, millions of Black Americans are homeowners today, the majority of them living in urban areas. Besides, it’s unnecessary.

Banks 459

Banks Loans Land Commercial 459

Housing Wire

SEPTEMBER 4, 2024

Keynova’s report reviewed the digital capabilities and user experiences at 12 of the top bank and nonbank lenders in the country. Depository lenders analyzed included Bank of America , Chase , Citi , Citizens , PNC , Truist , U.S. Bank and Wells Fargo.

Equity 459

Equity Lending Banks Loans 459

Housing Wire

DECEMBER 4, 2023

According to Bank of America ’s 2023 Homebuyer Insights report, only 62% of prospective homebuyers are willing to wait for home prices and/or rates to fall, down from 85% in June 2023. As a result, many homeowners stayed put and kept their mortgages and postponed listing their homes. As of July 2023, about 80% of outstanding U.S.

Marketing 482

Marketing Banks Lending Mortgages 482

Housing Wire

JULY 1, 2024

It is unquestioningly positive for homeowners and many of our CHLA members are eager to help their borrowers by participating. Freddie Mac has long purchased cash out refinances , which give homeowners whose homes have appreciated in value the ability to access some of the equity in their home.

Loans 448

Loans Mortgages Banks Lending 448

Housing Wire

OCTOBER 24, 2024

Now Sandoval, who was featured earlier this year in a Wall Street Journal article , is the one knocking on the doors of homeowners facing foreclosure or other distressed circumstances. She wants to offer those homeowners the resources and care that her mom and stepdad didn’t experience. “I There is nothing like that face to face.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

MAY 24, 2022

When writing about the ’80s banks and passbooks, I started to see a pattern emerge concerning customers and refinance loans and rates. Crop rotation one: Homeowners stay in their homes for 30 years. Refinances were not marketed then like they are today, nor were they the norm for a homeowner. You kill your soil.

Mortgages 459

Mortgages Banks Loans Loan Officer 459

Housing Wire

MARCH 30, 2023

With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? The Fed will rush to save a bank, but won’t whisper a word for an entire housing market to improve spreads. Today it’s much easier to see that we don’t have similar credit stress with homeowners.

VA loan 539

VA loan Loans Banks Mortgages 539

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Bank and non-bank lenders are now confronting the urgency to improve their digital experiences to better support home equity lending.

Lending 475

Lending Equity Banks Loans 475

Housing Wire

JANUARY 30, 2024

Unlike traditional HELOCs that require a homeowner to have at least 20% equity in their home, Angel Oak’s HELOC qualifies borrowers based on trailing 12- or 24-month bank statements and provides a line of credit with no usage restrictions, the lender said.

Mortgages 468

Mortgages Equity Banks Loans 468

Housing Wire

MAY 15, 2024

According to the newest Bank of America Homebuyer Insights Report , 72% of respondents worry about potential rent hikes impacting their finances. Given the highly competitive homebuying market, renters are unsure whether now is the right time to buy,” Matt Vernon, head of consumer lending at Bank of America, said in a statement.

Banks 459

Banks Lending Finance Marketing 459

Housing Wire

DECEMBER 14, 2020

Compared to the last two months, more homeowners exiting forbearance are using a modification – a sign that they have not been able to fully get back on their feet, even if they are working again.” “Coupled with the latest surge in COVID-19 cases, it is not surprising to see more homeowners seeking relief,” he said.

Loans 545

Loans Banks Mortgages As-is 545

Housing Wire

SEPTEMBER 11, 2024

Smith will be responsible for growing sales volume in Colorado, which has the sixth-fastest percentage rate of population growth of all states, and Wyoming, a market traditionally underserved by independent mortgage banks , loanDepot said on Tuesday.

Marketing 447

Marketing Banks Mortgages Sales 447

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 When the company shut down, loans were sold to investors, except those remaining with Flagstar Bank and First Horizon.

Bankruptcy 445

Bankruptcy Banks Investor Principal 445

Housing Wire

APRIL 28, 2023

The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners. In December, the bank agreed to pay $1.7 The partnership with T.D.

Lending 459

Lending Banks Commercial Equity 459

Housing Wire

AUGUST 15, 2024

To make matters worse, there is a limited inventory of homes on the market , as many current homeowners hold rates well below 6% and don’t want to be saddled with higher rates. In practice, the secondary market helps smaller banks and credit unions access a significant liquidity source to better compete with larger institutions.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

MARCH 3, 2024

“Even the relatively slight rate pullbacks of December and January spurred a growing number of homeowners to refinance. When it comes to retaining the business of refinancing homeowners, the industry has a lot of ground to make up. Servicers retained just one of every five such borrowers in Q4 2024, a 17-year low.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

MAY 21, 2024

This market stability is compelling several long-term investors, including banks and insurance companies, to increase their mortgage allocations as they reduce allocations to commercial real estate and business lending. This increased interest is being led by private equity investors and insurance companies.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. homeowners with outstanding mortgages — some 63% of all homes — home equity tied up in properties jumped by 6.8%

Equity 488

Equity Lending Banks Loans 488

Housing Wire

DECEMBER 1, 2022

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Most HELOC programs offered by big banks take on average 66 days to get approval, according to the Mortgage Bankers Association.

Equity 468

Equity Renovation Banks Loans 468

Housing Wire

SEPTEMBER 8, 2023

The partnership comes after the bank was hit by several scandals related to its lending practices. The bank repeatedly misapplied loan payments, wrongfully foreclosed on homes, illegally repossessed vehicles and charged surprise overdraft fees, affecting 16 million customers’ accounts, according to the CFPB.

Banks 418

Banks Lending Equity Loans 418

Housing Wire

OCTOBER 18, 2023

Multigenerational housing gains steam to combat affordability pressures According to a recent survey conducted by OnePoll , 61% of homeowners cited multigenerational housing as their primary motivation for constructing an ADU. Multigenerational living is not a new concept. Louis and the Census Bureau.

Construction 545

Construction Banks Closing Mortgages 545

Housing Wire

SEPTEMBER 26, 2023

They restrict the government-sponsored enterprises (GSEs) and banks from dealing in loans encumbered by PTFCs or related securities, “and prohibits the banks from accepting such mortgages or securities as collateral for advances, unless such PTFCs are ‘excepted transfer fee covenants,’” the entry explained.

Equity 448

Equity Mortgages Banks Loans 448

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. Residential Lending at TD Bank.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

OCTOBER 31, 2024

According to data from the Federal Reserve Bank of New York , roughly 750,000 home equity lines of credit ( HELOCs ) were issued to borrowers ages 55 or older in 2023. But FOA contends that HomeSafe Second represents a better value proposition than a traditional HELOC.

Mortgages 434

Mortgages Equity Loan Officer Loans 434