article thumbnail

CFPB finalizes rule that lays the foundation for open banking

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. But this rule has sparked mixed reactions within the industry, reflecting both enthusiasm and concerns. and European Union, where open banking has already been adopted to drive innovation and consumer benefits.

Banks 448
article thumbnail

Blue Ridge Bankshares is selling its mortgage banking division

Housing Wire

the holding company for Blue Ridge Bank and BRB Financial Group Inc. , on Thursday announced that Blue Ridge Bank has entered into a definitive asset purchase and sale agreement to sell certain assets of its mortgage division. Blue Ridge Bankshares Inc. , William Beale, president and CEO of Blue Ridge Bankshares, said in a statement.

Banks 329
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

MBA teams with Cleveland State University on mortgage banking education program

Housing Wire

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. The industry is getting the talent developments and potential new students to enter their workforce. It’s a true collaborative effort, Hoffman added.

Banks 370
article thumbnail

Flagstar Bank makes changes to TPO leadership

Housing Wire

Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. TPO is the bank’s main source of mortgages.

Banks 448
article thumbnail

This Cybersecurity Awareness Month, let’s spread awareness about real estate wire fraud

Housing Wire

With October being Cybersecurity Awareness Month, it is important that the real estate industry and consumers speak up and spread the word about how to prevent these real estate cybercrimes. Consumers should also avoid emailing financial information, such as bank account numbers.

Title 476
article thumbnail

Mortgage industry veteran Tammy Richards takes on new role at Kind Lending

Housing Wire

Richards has a long history in leadership and executive roles in the mortgage industry. During a 10-year tenure at Bank of America , she served in multiple roles, with the last being as senior vice president of national underwriting. At the time of her hiring, she remained the CEO of LendArch. The case is still ongoing.

Lending 221
article thumbnail

John Cornish explains scaling beyond $40 million in mortgage sales volume

Housing Wire

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. Cornish started his career in mortgage banking at Wells Fargo in Iowa in 2003.

Mortgages 370