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 432

Equity Mortgages Banks Commercial 432

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 448

Commercial Brokerage Due diligence Title 448

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 515

Banks Lending Loans Principal 515

Housing Wire

DECEMBER 15, 2021

Other investors included Golden Tree Asset Management , Raptor Group , and FJ Labs. Another 11 existing venture investors, such as White Star Capital and Kingsway Capital , followed on in the round. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

Mortgages 448

Mortgages Lending Banks Investor 448

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 Morgan Chase Bank , 6.5%; Rocket Mortgage , 6.4%; and Wells Fargo , 4.7%. billion for the $12.2

Principal 448

Principal Loans Investor Residential 448

Housing Wire

JUNE 28, 2023

. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 418

Industrial Mortgages Principal Loans 418

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

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6

Principal 370

Principal Fixed-rate mortgage Loans Residential 370

Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. billion in loans or sell them to investors.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

MARCH 23, 2022

Minneapolis-based CarVal Investors , a global alternative investment manager and long-time player in the mortgage market, has launched a real estate mortgage investment conduit, or REMIC, that plans to work with loan originators around the country to develop and acquire innovative nonagency mortgage products.

Bankruptcy 397

Bankruptcy Banks Loans Residential 397

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 468

Principal Loans Investor Industrial 468

Housing Wire

APRIL 8, 2022

billion note backed by a reference loan pool of 140,950 residential mortgages with an outstanding principal balance of $42.9 Morgan Chase Bank , 5%; and Pennymac , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6

Principal 397

Principal Loans Residential Investor 397

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed rates would be slashed to a median 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels. “The

Banks 488

Banks Mortgages Principal Investor 488

Housing Wire

MARCH 1, 2021

For example, Lind noted that the number of non-traditional investors is increasing, but GSE guidelines around investment properties mean that some investors will not be able to get loans for those properties from the agencies. Acra Lending offers a variety of non-QM programs for borrowers in those complicated, unique situations.

Lending 416

Lending Banks Loans Investor 416

Housing Wire

FEBRUARY 28, 2022

The different requirements for Ginnie Mae versus Fannie Mae and Freddie Mac servicers follows from the different risk profiles of their portfolios, as well as the terms of the guarantee they provide to investors. Defaults are more expensive for Ginnie Mae servicers. basis points. establish a liquidity buffer to draw on during times of stress.

Principal 418

Principal Loans Industrial Banks 418

Housing Wire

SEPTEMBER 22, 2022

The new credit risk transfer (CRT) offering, STACR 2022-DNA7, outlined in a presale report by Kroll Bond Rating Agency , involves a $616 million note offering backed by a reference loan pool of 69,144 residential mortgages with an outstanding principal balance of $19.9 Morgan Chase Bank , 4.1%, according to the KBRA report.

Principal 370

Principal Loans Investor Residential 370

Housing Wire

DECEMBER 13, 2024

Instead, it would be similar to Ginnie Mae HMBS (backed by FHA -insured reverse mortgage loans), where the investor is paid an accrued sum at the time the loan resolves. The trade group acknowledged that investor demand for such a product is likely to be small, but this doesnt mean it couldnt make a difference.

Bankruptcy 368

Bankruptcy Loans Investor Banks 368

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 476

Technology Title Development Lending 476

Housing Wire

SEPTEMBER 8, 2020

Adopting a “poison pill” strategy, Corelogic approved a shareholder-rights plan that prevents investors from acquiring 10% or more of the company’s common stock, or 20% in the case of certain passive investors. The vote on Nov. In their place, Cannae and Senator propose appointing: W.

Principal 392

Principal Investor Banks As-is 392

Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024.

Industrial 468

Industrial Mortgages Banks Principal 468

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

Industrial 418

Industrial Mortgages Purchase and sale agreement Banks 418

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower.

Marketing 433

Marketing Principal Banks Loans 433

Housing Wire

AUGUST 26, 2024

trillion unpaid principal balance (UPB). We opportunistically took advantage of strong market conditions and monetized approximately $29 billion of unpaid principal balance of our mortgage servicing rights,” David Hayes, loanDepot’s chief financial officer, told analysts. The dynamic has led to a repositioning of players in the market.

Mortgages 457

Mortgages Banks Debt-to-income ratio Loans 457

Housing Wire

FEBRUARY 1, 2022

The recent offering , CAS Series 2022-R02, involves transferring loan-portfolio risk to private investors via a $1.2 Through a CRT transaction, private investors participate with government-sponsored enterprise (GSE) Fannie Mae in sharing a portion of the mortgage credit risk in the reference loan pools retained by the GSE.

Debt-to-income ratio 370

Debt-to-income ratio Investor Loans Principal 370

Housing Wire

JULY 1, 2024

Devon Bevis Senior Vice President Correspondent & Co-Issue Sales Mr. Cooper Dionna Hall Chief Executive Officer Broward, Palm Beaches & St.

Lending 493

Lending Technology Mortgages Equity 493

Housing Wire

JUNE 3, 2022

Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2 Key to EBO offerings is the fact that the FHA guarantees 100% of the principal balance on the loans it insures. Its servicing portfolio for all-agency loans based on unpaid principal balance stood at $374.8

Loans 418

Loans FHA loan Principal Marketing 418

Housing Wire

DECEMBER 13, 2024

The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers , who are already recording average pre-tax losses of $534 per loan origination. Loan buybacks also harm investors by introducing volatility and diminishing returns. Documentation issues : Missing or inadequate documentation.

Pre-approval 369

Pre-approval Investor Loans Technology 369

Housing Wire

AUGUST 9, 2023

Large banks have historically been the rulers of the jumbo market. This is because surging mortgage rates , upcoming regulatory changes and regional bank collapses have forced large depositories to pull back. billion), Bank of America ($20.4 PNC Bank ($7.9 billion) and MUFG Union Bank ($5.8 billion), U.S.

Banks 370

Banks Marketing Loans Mortgages 370

Housing Wire

AUGUST 9, 2022

That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 early in the year — with Acra moving rates 18 times, mostly up, over that period.

Marketing 418

Marketing Bankruptcy Loans Principal 418

Housing Wire

FEBRUARY 22, 2022

Lenders who want to thread the needle between the different interests of borrowers, investors and regulators need smart, efficient mortgage software solutions to meet their servicing goals. However, working with borrowers exiting forbearance programs adds another layer to an already complex process which could raise costs.

Commercial 416

Commercial Investor Loans Mortgages 416

Housing Wire

MARCH 10, 2022

Two similar past issuances, one in 2015 and another last year, also were sponsored by Lakeview, according to a US Bank trust investor report. Ginnie, however, guarantees only the principal and interest payments to purchasers of its bonds, which are sold worldwide. A fourth such transaction, a $370.7

Mortgages 391

Mortgages Principal Loans FHA loan 391

Housing Wire

APRIL 24, 2024

“Thanks to our strategic emphasis on technology, including years of investment in AI and the cloud, Mr. Cooper is well positioned to provide our customers with world-class service, operate as a trusted counterparty for our industry stakeholders, and grow and sustain investor returns.” billion in unpaid principal balance (UPB).

Equity 408

Equity Lending Technology Principal 408

Housing Wire

NOVEMBER 1, 2023

Tight financial and credit conditions, slowing inflation and high 10-year Treasury yields – the primary driver in the rise of longer-term interest rates – will likely discourage the central bank from a further rate hike this year, economists and mortgage professionals said. We’re coming up against Nov.

Principal 435

Principal Banks Mortgages Investor 435

Housing Wire

APRIL 1, 2024

Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream. The established players are usually the banks that hold your savings, checking account.

Equity 468

Equity Finance Purchase and sale agreement Investor 468

Housing Wire

FEBRUARY 14, 2024

Additionally, modern mortgage servicing software and Application Programming Interfaces (APIs) automate investor reporting and compliance and create a more efficient workflow, effectively allowing servicers to service loans in-house to maximize their advantages.

Loans 428

Loans Investor Mortgages Principal 428

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 459

Lending Bankruptcy Mortgages Principal 459

Housing Wire

JANUARY 13, 2021

Many of these challenges persist today, while new ones – like post-forbearance credit reporting, investor and year-end reporting for deferred balances – continue to arise. Investor reporting. The impact of deferral plans on investor reporting is a critical issue that needs to be addressed. Presented by: CoreLogic.

Mortgages 488

Mortgages Investor Loans Technology 488