Housing Wire

AUGUST 14, 2020

Ivanoski has 17 years of experience in the financial services industry, including time at State Street Corporation and Santander Bank. Lessinger is a founding principal and broker/owner of RE/MAX Realty in Nevada, having built a team of 130 agents in three offices over the span of 22 years.

Lending 301

Lending Principal Industrial Development 301

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 425

Lending Bankruptcy Mortgages Principal 425

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 434

Banks Mortgages Loan Officer Due diligence 434

Housing Wire

APRIL 12, 2024

In the first quarter of 2024, the big banks showed a challenging reality for originations. The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. Retail volume came in at $4.4

Mortgages 423

Mortgages Banks Fixed-rate mortgage Lending 423

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 417

Banks Mortgages Loans Equity 417

Housing Wire

JUNE 28, 2024

The purpose of the committee is to provide nonbinding advice to the agency on how Fannie Mae , Freddie Mac and the Federal Home Loan Banks can achieve their goals as a “reliable and responsible source of liquidity and funding“ across the single-family and multifamily housing sectors.

Lending 380

Lending Principal Finance Equity 380

Housing Wire

APRIL 8, 2022

Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I Non-QM is expected to make a resurgence this year, and originators should look toward non-QM lending to help restimulate their business.

Sales 380

Sales Lending Principal Banks 380

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 412

Bankruptcy Banks Pre-approval Principal 412

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 461

Banks Lending Loans Principal 461

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. In short, no one should expect a return to the historically low rates we saw back in 2020 and 2021.”

Industrial 446

Industrial Mortgages Banks Principal 446

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 383

Mortgages Marketing Banks Investor 383

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 379

Industrial Mortgages Principal Loans 379

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 484

Lending Technology Mortgages Equity 484

Housing Wire

JULY 22, 2022

Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. The bank calls out 16 non-QM lenders in the text message, indicating it is ramping up scrutiny of its loan reviews, prior to advancing warehouse funding. Of course we’re not. “…If

Lending 386

Lending Banks Bankruptcy Loans 386

Housing Wire

APRIL 24, 2024

Per the terms of the contract, Sagent was tasked with integrating Mr. Cooper’s consumer-first platform into a cloud-native core, then licensing the resulting cloud-based platform to banks and independent mortgage companies. billion in unpaid principal balance (UPB). This included $1.4 billion in direct-to-consumer originations and $1.5

Equity 334

Equity Lending Principal Technology 334

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

Principal 384

Principal Banks Loans Lending 384

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 340

Mortgages Banks Marketing Residential 340

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 382

Marketing Principal Banks Loans 382

Housing Wire

JUNE 2, 2022

NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 404

Mortgages Loan Officer Lending Principal 404

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 404

Industrial Mortgages Purchase and sale agreement Banks 404

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 463

Technology Title Development Lending 463

Housing Wire

MARCH 25, 2022

Presented by: Acra Lending. Pennymac has said it is making an effort to boost its consumer direct lending business. Doug Jones, president and chief mortgage banking officer at Pennymac, said at the time the new facility would boost Pennymac’s operations coast-to-coast “while supporting the organization’s overall growth initiatives.”.

Lending 397

Lending Principal Loans Banks 397

Housing Wire

AUGUST 26, 2024

Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. trillion unpaid principal balance (UPB).

Mortgages 397

Mortgages Banks Debt-to-income ratio Loans 397

Housing Wire

MARCH 1, 2021

“When rates go up, the QM market can have a visceral reaction when the supply disappears, fast, and I think that is a huge tailwind for non-QM,” said Keith Lind, Executive Chairman and President of Acra Lending. Acra Lending offers a variety of non-QM programs for borrowers in those complicated, unique situations. Flexible Programs.

Lending 362

Lending Banks Loans Investor 362

Housing Wire

AUGUST 15, 2022

The Federal Reserve Bank of New York ’s second-quarter 2022 Household Debt and Credit Report shows that limits on HELOCs jumped by $18 billion in the second quarter of this year, “the first substantial increase in HELOC limits since 2011,” and an indicator of an increase in new originations. billion in 2021 to $4.6

Equity 458

Equity Lending Fixed-rate mortgage Loans 458

Housing Wire

AUGUST 11, 2022

Keith Lind, CEO of non-QM lender Acra Lending, put it this way: “These aren’t bad loans, just bad prices.”. “We AOMR has bulked up its warehouse lending arsenal to help bolster liquidity to better cope with the volatility of the current market. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 395

Mortgages Residential Loans Lending 395

Housing Wire

OCTOBER 24, 2022

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages. Banks have been net purchasers of MSRs, to the tune of $107.8 billion — compared with $51.1 The weak link?

Principal 303

Principal Banks Loans Mortgages 303

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. billion in 2021 to $4.6

Equity 370

Equity Loans Residential Banks 370

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The lender’s correspondent clients include other banks and mortgage companies.

Mortgages 368

Mortgages Lending Loans Banks 368

Housing Wire

JUNE 17, 2024

It would be a few more years before he made the jump into the reverse lending space, but once he did, he found a business that he connected with until his retirement this year. Even with the lower principal limits, I’m fortunate that I don’t have a mortgage to pay off. So that’s always been a big thing.

Mortgages 386

Mortgages Equity Principal Banks 386

Housing Wire

APRIL 26, 2023

million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Despite the reduction in the unpaid principal balance in the first quarter of 2023, Mr. Cooper won deals that will include $57 billion in MSRs in the next few months, the executive said.

Principal 369

Principal Banks Equity Loans 369

Housing Wire

OCTOBER 18, 2022

As of that date, “the outstanding amount of principal due was $220,281,891.35,” which does not include attorneys’ fees, court costs, or other out-of-pocket expenses FirstFunding believes Sprout owns. Representatives for FirstFunding and Sprout did not return requests for comments.

Loans 390

Loans Principal Mortgages Lending 390

Housing Wire

AUGUST 12, 2022

O’Donoghue has been in mortgage banking for more than 30 years and has been helping and committed to working with Senior Citizens for the last seven years. Since the Great Recession, lending practices returned to acceptable guidelines and with unemployment at a historical low point, prices aren’t crashing 30-40% as before.

Principal 342

Principal Loans Lending Banks 342

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. How about we focus on big issues like affordable housing, lending to low- and moderate-income borrowers and helping first-time homebuyers achieve the American Dream in a market that’s nigh on unaffordable? All good things must end.

Industrial 476

Industrial Mortgages Principal Technology 476

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. In servicing, Pennymac delivered a pretax income of $101.2 million in Q3 2023, up from $46.5 million in Q2 2023.

Fixed-rate mortgage 417

Fixed-rate mortgage Principal Banks Loans 417

Housing Wire

MAY 23, 2022

million in the first quarter this year, driven by its servicing portfolio and about $520 billion in unpaid principal balance. In the beginning of the year, Pennymac said it aimed to boost its consumer direct lending business. Pennymac reported a pretax income of $234.5 The company announced it was investing $3.9

Loan Officer 418

Loan Officer Loans Principal Mortgages 418

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 330

Banks Marketing Loans Mortgages 330