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.” Allan Polunsky and Marty Green are principals at Polunsky Beitel Green, a Texas-based law firm. Independent mortgage companies have no such luxury.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

JULY 12, 2024

The performance of our consumer auto portfolio continued to improve, reflecting prior credit tightening actions, and we had net recoveries in our home lending portfolio.” The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year. Generating revenues Home lending activity brought in $1.3

Mortgages 458

Mortgages Lending Banks Principal 458

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 516

Banks Lending Loans Principal 516

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

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

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 468

Mortgages Banks Fixed-rate mortgage Lending 468

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 418

Banks Mortgages Loans Equity 418

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 397

Sales Lending Principal Banks 397

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 448

Mortgages Lending Banks Investor 448

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 418

Bankruptcy Banks Pre-approval Principal 418

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 418

Lending Principal Finance Land 418

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 418

Lending Banks Loans Investor 418

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 397

Principal Banks Loans Lending 397

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 418

Mortgages Loan Officer Lending Principal 418

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 397

Lending Banks Bankruptcy Loans 397

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

JANUARY 3, 2023

“On December 22, 2021, borrower (loanDepot) executed an eighteenth amended and restated promissory note in the principal amount of $268,000,000 in favor of Lender (NexBank), evidencing the loan,” according to the filing. As of September 30, the lender’s total funding capacity with its lending partners decreased by 42.4%

Lending 83

Lending Principal Loans Mortgages 83

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

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

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 459

Equity Lending Fixed-rate mortgage Loans 459

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 414

Equity Lending Technology Principal 414

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 468

Industrial Mortgages Banks Principal 468

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

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

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

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 434

Marketing Principal Banks Loans 434

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

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 370

Mortgages Banks Marketing Residential 370

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 397

Mortgages Residential Loans Lending 397

Housing Wire

JANUARY 26, 2022

Lenders across the board felt that they got truly high ROI from these solutions,” said Sam Ryder, principal at LLR Partners. “We are building and already know we can deliver the best wallet share acceleration program for banks and credit unions, using the same strategies we’ve done in mortgage,” Kutsishin said.

Investor 392

Investor Sales Mortgages Loan Officer 392

Housing Wire

JANUARY 28, 2022

Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration ’s proposed servicing defect taxonomy.

Loans 418

Loans Principal Lending Banks 418

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 464

Mortgages Equity Principal Banks 464

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 458

Mortgages Banks Debt-to-income ratio Loans 458

Housing Wire

NOVEMBER 17, 2022

According to John Bosley, president of mortgage lending at Planet Home Lending , the idea that 95% of firms will qualify for the new risk-based capital rule is a “little bit disingenuous.” “You take a few of those (20 or 25 issuers) out of the mix, and you’re down 10%, 20%, or 30% (compliant),” he said.

Marketing 448

Marketing Lending Loans Principal 448

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 334

Principal Banks Loans Mortgages 334

Housing Wire

DECEMBER 13, 2024

We expect this program would have a small but not insignificant trading volume, with investor profiles similar to investors in the HMBS program and with sufficient demand from the warehouse lending community alone to ensure the market remains liquid and viable when it is needed most by the issuer, MBA explained.

Bankruptcy 369

Bankruptcy Loans Investor Banks 369

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 370

Mortgages Lending Loans Banks 370