Housing Wire

SEPTEMBER 9, 2024

Why is homeowners insurance so expensive in the Upper Midwest? This is according to an article published by the Federal Reserve Bank of Minneapolis , citing data from S&P Global showing as much as a 34% increase in homeowner’s insurance premiums nationwide over a period of seven years.

Construction 459

Construction Banks Technology As-is 459

Housing Wire

FEBRUARY 6, 2024

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%).

Residential 497

Residential Lending Banks Mortgages 497

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 457

Banks Closing costs Lending Equity 457

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Homeowners can log into the company’s secure web portal or mobile app to access a full view of their loan and 24/7 self-service options.

Banks 397

Banks Loan Officer Lending Loans 397

Housing Wire

AUGUST 5, 2022

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Those agencies oversee banks, and are tasked with ensuring banks do not redline , by enforcing the Community Reinvestment Act.

Banks 448

Banks Debt-to-income ratio Lending Loans 448

Housing Wire

NOVEMBER 13, 2023

The original plan — to buy up troubled mortgage assets — was quickly abandoned in favor of actions like capital infusions for banks and the bailout of our auto companies. A homeowner loses their job and falls behind on their payments, then gets back on track when they secure a new job. The concept is simple.

Banks 440

Banks Loans Bankruptcy Mortgages 440

Housing Wire

NOVEMBER 13, 2024

homeowners, with starts and completed foreclosures up in October,” Attom CEO Rob Barber said in a statement. The report only considers homes in default, auction and real estate-owned (REO) status — i.e., those owned by a bank, government agency or another party after foreclosure.

Real-estate owned 448

Real-estate owned Mortgages Closing Banks 448

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

FEBRUARY 26, 2025

These are some of the elements that Medina Cicak, chief commercial officer for Heartland Bank in Australia , and Keira Billot, the bank’s New Zealand -based general manager of retail and reverse mortgages, discussed in an interview with HousingWire s Reverse Mortgage Daily (RMD).

Mortgages 289

Mortgages Banks Equity Development 289

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

DECEMBER 18, 2024

On Wednesdy Citi launched mortgage.com, a new platform that creates a brand-endorsed, consumer-focused channel to leverage Citi’s brand authority and encourage mortgage or refinance applications for the bank. Enter mortgage.com, which Burgard says is a learning platform to grow the banks presence in the mortgage space.

Marketing 416

Marketing Lending Branding Banks 416

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 349

Lending Loans Loan Officer Technology 349

Housing Wire

FEBRUARY 24, 2025

Thats when you start working with the bank. The economy-employment-home sales cycle this time around has an added wrinkle which is homeowners all having ultra-low mortgage rates. If the economy has really tanked and youve been out of work for months, and future employment looks dubious, then you start to make financial arrangements.

Sales 489

Sales Mortgages As-is Marketing 489

Housing Wire

FEBRUARY 6, 2025

If thats not enough, affordability is still a distant dream for most homeowners. Key non-QM products for 2025 Before 2025 continues, lenders should arm themselves with the right tools for tackling the market: Investor loans Investing is the vehicle to success for homeowners in the market. Fortunately, theres a solution.

Loans 303

Loans Mortgages Equity Construction 303

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

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

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

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 440

Industrial Banks Residential Lending 440

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 447

Loans Mortgages Banks Lending 447

Housing Wire

FEBRUARY 19, 2025

He first joined Guaranteed Rate in January 2019 after a two-year stint as a loan officer at Northpointe Bank. According to Franquemont, his decision to return to Rate stems from a desire to re-align himself with new mortgage technology and resources that ultimately help homeowners the most.

Loan Officer 308

Loan Officer Lending Loans Technology 308

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.

Loans 539

Loans VA loan Banks Mortgages 539

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

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 474

Lending Equity Banks Loans 474

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 544

Loans Banks Mortgages As-is 544

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 Development 459

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 444

Marketing Banks Mortgages Sales 444

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 442

Bankruptcy Banks Principal Investor 442

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

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