Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). The fate of the specialist when the market shifts The independent mortgage banks most of us think of when someone mentions IMBs originated as a result of the Savings and Loan Crisis of the 1980s. Today, many might feel sorry for the IMB.

Banks 418

Banks Mortgages Loans Investor 418

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). Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

Lending 448

Lending Banks Loans Renovation 448

Housing Wire

DECEMBER 21, 2022

I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure Acquisition Corp. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision.

Banks 488

Banks Mortgages Technology Lending 488

Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. BlackRock Financial Market Advisory had preliminary conversations with investors about the bonds, the report said, citing unnamed sources.

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 435

Banks Lending Mortgages Commercial 435

Housing Wire

SEPTEMBER 26, 2023

On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day. “[Our goal is ] Having a unified platform that can serve all the products that a bank can offer.

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

NOVEMBER 14, 2024

To get a better idea of what investors might be most closely interested in with these results, along with the outlook for these companies and the industry, HousingWire ’s Reverse Mortgage Daily (RMD) sat down with UBS equity research analyst Douglas Harter. They also mentioned the proprietary product suite at their company as a bright spot.

Investor 370

Investor Mortgages Bankruptcy Equity 370

Housing Wire

JULY 26, 2023

Dubbed “Investors Flex,” the non-QM product for real estate investors, offered purchase and refinance loans up to $2 million that could be used to finance up to 20 properties by using each property’s monthly rental income to qualify. UWM originated $38.8 billion in mortgage loans in the first quarter of 2022, a 29.7%

Investor 370

Investor Closing costs Loans Mortgages 370

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 435

Banks Mortgages Loan Officer Due diligence 435

Housing Wire

NOVEMBER 15, 2024

Chrissi Callaghan Rhea, co-founder of Mortgage Investors Group and member of the Mortgage Bankers Association (MBA) board of directors, died on Nov. Rhea’s son, Kevin Rhea, who worked with her at MIG for over two decades, said she was a “force in mortgage banking.” 8, at the age of 73.

Investor 369

Investor Mortgages Loan Officer Lending 369

Housing Wire

MAY 21, 2024

This increased demand is resulting in tighter credit spreads for private label, non-QM RMBS securitizations; increased prices for a broad range of mortgage loans including seconds, home equity agreements, bridge loans, and alternative documentation loans; and strategic transactions between investors and originators.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

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. Cangemi said in a statement that the bank’s deposit ratings remain “investment grade” at other credit rating agencies.

Mortgages 467

Mortgages Banks Marketing Commercial 467

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 million), investor Freddie Mac ($3.4 million), and the Internal Revenue Service ($942,797).

Bankruptcy 443

Bankruptcy Banks Investor Principal 443

Housing Wire

FEBRUARY 28, 2024

Specific factors include higher debt-to-income ratios, self-employed borrowers who can’t qualify using tax returns, less than seven years out of a credit event such as a foreclosure, or real estate investors with more than 10 properties. There are high income and high-net-worth self-employed borrowers and real estate investors in every town.

Debt-to-income ratio 458

Debt-to-income ratio Mortgages Banks Investor 458

Housing Wire

MARCH 6, 2024

A group of investors led by the former U.S. The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. DiNello was the CEO of Flagstar Bank , the depositary recently acquired by NYCB, and will be named as non-executive chairman.

Equity 435

Equity Mortgages Banks Commercial 435

Housing Wire

JULY 18, 2024

launched on Wednesday to serve international investors in U.S. ” 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

APRIL 17, 2024

The brokerages are also contending with the rule changes included in a proposed settlement by the National Association of Realtors ; some investors also believe those rule changes advantage CoStar at the expense of Zillow. There are other dynamics at play for some of these companies, however.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

Housing Wire

OCTOBER 30, 2024

A consent order signed by a Connecticut banking commissioner said that LoanSnap failed to notify the Nationwide Multistate Licensing System (NMLS) that its main address had changed. These actions include a Wells Fargo suit filed in Minnesota, where the bank sought more than $430,000 over an alleged breach of contract.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

MARCH 20, 2024

.” Earlier in March, Fed Chair Jerome Powell emphasized during his semiannual monetary policy testimony that the central bank needed “just a bit more evidence” that inflation was on the right path before implementing its first rate cut since March 2020. at the end of 2024. Most penciled out three quarter-point rate cuts this year.

Investor 482

Investor Banks Mortgages As-is 482

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.

Loans 468

Loans Investor Banks Finance 468

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 434

Mortgages Marketing Banks Investor 434

Housing Wire

MARCH 30, 2023

Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage was 6.32% as of March 30, down 10 basis points from the previous week, mainly due to the economic uncertainty caused by bank collapses. banks made $30 billion in deposits at First Republic Bank. In addition, 11 U.S.

Marketing 526

Marketing Fixed-rate mortgage Banks Mortgages 526

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

Lending 448

Lending Equity Technology Banks 448

Housing Wire

SEPTEMBER 14, 2023

Real estate investment trust Redwood was founded in the early 1990s as the need for more private investors in the mortgage market grew. “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

Equity 417

Equity Banks Investor Residential 417

Housing Wire

FEBRUARY 5, 2024

Mortgage rates briefly exceeded 8% in October but had eased as investors gained confidence that the Fed was nearing the end of its phase of interest rate hikes. 1, Powell signaled that the central bank isn’t likely to cut interest rates in March as investors had hoped. “In After the most recent FOMC meeting on Feb.

Mortgages 493

Mortgages Investor Banks As-is 493

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually. .”

Principal 482

Principal Investor Banks Mortgages 482

Housing Wire

JUNE 25, 2024

Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. He comes to Change Lending after a stint as president of real estate at Texas Capital Bank. In March, Change Lending announced its membership with the Federal Home Loan Bank of San Francisco.

Lending 388

Lending Banks Renovation Loans 388

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

Housing Wire

SEPTEMBER 24, 2024

million shares of common stock to investors in a public offering. Rithm is offering 30 million shares of its common stock, subject to market conditions, but will give investors the option to purchase an additional 4.5 Six banks are joint book-running managers for the offering, including Citigroup , Goldman Sachs , J.P.

Banks 434

Banks Investor Mortgages Loans 434

Housing Wire

NOVEMBER 2, 2023

HousingWire: How did the non-QM sector fare this year among rate increases, slow purchase volumes and the difficulties in the banking sector? Non-QM borrowers such as those who are self-employed and real estate investors are generally less rate sensitive. In fact, a growing focus is the real estate investor population.

Banks 475

Banks Investor Lending Loans 475

Housing Wire

APRIL 18, 2024

Realtors , small business owners, gig workers, freelancers, real estate investors, CPAs, doctors and lawyers with their own practices all could be a non-QM borrower. Real estate investors build portfolios in every market condition There is a large pool of borrowers who purchase regardless of market conditions – real estate investors.

Marketing 459

Marketing Loans Investor Banks 459

Housing Wire

JULY 22, 2024

Quality control also ensures that mortgage loans meet investor and regulatory standards, which minimize the risk of defaults and foreclosures adversely impacting local markets. ’ Can you explain its key functionalities and how it helps lenders ensure compliance with investor requirements and enhance their QC processes? .’

VA loan 445

VA loan Lending Banks Investor 445

Housing Wire

AUGUST 15, 2024

Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied. Attorneys for the U.S.

Bankruptcy 467

Bankruptcy Banks Development Loans 467

Housing Wire

DECEMBER 30, 2024

In the 16 years since the peak of the Global Financial Crisis, the structured products industry has transformed from a market dominated by large banks to one with space for new players. A more rigid regulatory framework created by Dodd-Frank and other post-GFC era legislation put investors at ease.

Banks 397

Banks Due diligence Residential Investor 397

Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place.

Mortgages 459

Mortgages Banks Title Lending 459

Housing Wire

JANUARY 28, 2025

Ruimy noted that the BPL sector accounts for a significant portion of residential mortgage originations, with large investors increasingly turning to BPL lenders like Dunmor. I think [about] five years ago, banks were still extremely active in the sector. Would you say that the majority of these are smaller investors?

Residential 355

Residential Lending Finance Banks 355