Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending.

Lending 465

Lending Banks Loan Officer Loans 465

Housing Wire

MAY 28, 2024

FDIC) this month announced a settlement with Arkansas-based Bank of England over alleged violations of the Federal Trade Commission Act, the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA) and the Home Mortgage Disclosure Act (HMDA). The bank has been issued an order to pay a civil penalty of $1.5

Banks 369

Banks Mortgages VA loan Loan Officer 369

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The problem is, a mortgage credit reject (MCR) is kind of like your scarlet letter, to be completely honest,” Gastelum said. That changed on September 11.

Loan Officer 379

Loan Officer FHA loan Loans Mortgages 379

Housing Wire

AUGUST 2, 2024

OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc. which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s website and social media page reflect the status of a “division of OceanFirst Bank N.A.” billion in 19,000 loans since its foundation.

Banks 385

Banks Loans Loan Officer Lending 385

Housing Wire

MARCH 6, 2023

There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. Rising rates will likely scare buyers away from the market, as it makes monthly mortgage payments less affordable, loan officers interviewed by HousingWire said.

Loan Officer 383

Loan Officer Loans Pre-approval Mortgages 383

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. In its previous five-year plan, from 2018 to 2023, the bank invested $1.75

Banks 354

Banks Mortgages Lending Loan Officer 354

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 400

Banks Loan Officer Lending Loans 400

Housing Wire

FEBRUARY 1, 2024

United Bank will consolidate its mortgage subsidiaries into one unified mortgage business amid the housing industry struggles with elevated interest rates. United Bank has been delivering mortgage services through three channels, including two mortgage subsidiaries — Crescent Mortgage Co.

Banks 357

Banks Mortgages Closing Industrial 357

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release. Bank is a consumer and business banking company owned by US Bancorp.

Banks 360

Banks Lending Loan Officer Loans 360

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in loans, about half of 2021’s $4.4 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. trillion to $1.7 trillion.

Banks 431

Banks Mortgages Loan Officer Due diligence 431

Housing Wire

DECEMBER 9, 2020

trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while. “I I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado.

Loans 516

Loans Closing Loan Officer Mortgages 516

Housing Wire

MARCH 27, 2023

First Citizens Bank & Trust Company will acquire failed Silicon Valley Bank (SVB), which unexpectedly failed earlier this month and sent shock waves across the financial sector. The abrupt closure of SVB, after a run on deposits had left it insolvent , marked the largest bank failure in the U.S. In total, 76.6%

Banks 77

Banks Purchase and sale agreement Loan Officer Loans 77

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Banks 369

Banks Mortgages Loan Officer Residential 369

Housing Wire

APRIL 29, 2024

Pennsylvania-based Fulton Bank, National Association of Lancaster, has agreed to assume most of the deposits and assets of Republic First Bank , which state regulators seized on Friday to “protect depositors.” Republic had an active business that specialized in jumbo mortgage products. Republic Bank is adding $5.3

Banks 348

Banks Closing Loan Officer Loans 348

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 398

Banks Lending Loan Officer Loans 398

Housing Wire

FEBRUARY 17, 2023

Brady Torgerson, former president of First Security Bank-West , was sentenced to two years in prison for two counts of bank fraud he conducted between 2019 and 2021 when working for the North Dakota-based bank and Union Bank as a loan officer. Three others were also sentenced in connection to the fraud.

Banks 80

Banks Loan Officer Loans Mortgages 80

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

Mortgages 493

Mortgages Lending Banks Residential 493

Housing Wire

FEBRUARY 16, 2021

Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” I can set filters for my partner search on Bumble, so why can’t I filter results for a mortgage broker? 3 Self-driving banks. 1 Personalization.

Mortgages 534

Mortgages Banks Loan Officer Technology 534

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

FHA loan 468

FHA loan Loans Loan Officer Mortgages 468

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. In total, 76.6%

Banks 330

Banks Mortgages Loans Loan Officer 330

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. of banks reported weaker demand for HELOCs.

Lending 336

Lending Banks Mortgages Loan Officer 336

Housing Wire

MAY 30, 2023

And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2% Imagine you’re a lender or an LO or a bank who is trying to serve the mass market.

Loan Officer 355

Loan Officer Loans Banks Technology 355

Housing Wire

NOVEMBER 15, 2024

Should the goal of marketing technology be to make it so that a loan officer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Empowerment, not detachment, is the path forward.

Loan Officer 283

Loan Officer Loans Marketing Title 283

Housing Wire

JULY 15, 2024

Loan originators in today’s mortgage market have weathered significant challenges. Register now for AMPCON and be part of the conversation that’s shaping the future of mortgage banking. If you are still in the game, you’re already demonstrating resilience and adaptability.

Loan Officer 349

Loan Officer Loans Banks Mortgages 349

Housing Wire

MARCH 31, 2022

Mortgage rates keep climbing amid rising inflation , war in Ukraine, and disruptions to the supply chain, and there’s no sign that they’ll fall anytime soon. The latest weekly Freddie Mac PMMS mortgage survey, released Thursday, showed that the average purchase mortgage rate touched 4.67%, up 25 basis points from the week prior.

Mortgages 518

Mortgages Fixed-rate mortgage Loan Officer Banks 518

Housing Wire

JULY 27, 2022

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 The complaint alleged Trident Mortgage Co. ,

Mortgages 418

Mortgages Loan Officer Banks Loans 418

Housing Wire

SEPTEMBER 16, 2022

Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. Mortgage Marketing Radio.

Loan Officer 435

Loan Officer Mortgages Lending Loans 435

Housing Wire

SEPTEMBER 19, 2024

Department of Justice (DOJ) announced this week that they have secured a $15 million conciliation agreement with New Jersey-based OceanFirst Bank to settle allegations of discriminatory redlining in certain neighborhoods with majority Black, Hispanic and Asian populations. which will become a new division for the regional depository bank.

Banks 358

Banks Lending Loans Loan Officer 358

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

SEPTEMBER 13, 2024

Buffalo, New York-based mortgage technology firm LenderLogix , a top provider of point-of-sale (POS) and automation software for independent mortgage banks , commercial banks and third-party brokers, announced Thursday that Ben Head will join the company as an account executive.

Sales 387

Sales Mortgages Loan Officer Technology 387

Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Bank, Citi and Bank of America looking to expand the ranks of LOs.

Mortgages 475

Mortgages Banks Brokerage Loans 475

Housing Wire

MARCH 11, 2024

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. Solutions within Floify Lender Edition allow lenders to improve recruitment and retention of top-producing loan officers and to navigate regulatory landscapes, according to the company’s website.

Mortgages 401

Mortgages Loan Officer Loans Banks 401

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 396

Mortgages Loan Officer Banks Equity 396

Housing Wire

JANUARY 18, 2022

More than 400 mortgage loan originators will pay penalties after a multi-state investigation alleged they falsely claimed they completed an annual continuing education requirement. million, officials from the Conference of State Bank Supervisors and CDFPI said during a briefing Tuesday.

Loan Officer 414

Loan Officer Mortgages Loans Banks 414

Housing Wire

JANUARY 7, 2022

Pink slips arrived for nearly three dozen loan officers at Wyndham Capital Mortgage on Wednesday, HousingWire has learned. The consumer direct mortgage lender, headquartered in Charlotte, North Carolina, said it laid off 35 LOs across its offices in Dallas, Charlotte, Salt Lake City, Kansas City, and Phoenix.

Mortgages 431

Mortgages Loan Officer Loans Banks 431

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Cornerstone Servicing ’s client portal provides complete, real-time portfolio analytics and loan-level data to enable smart portfolio management. billion in assets.

Banks 340

Banks Loan Officer Lending Loans 340

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgages 467

Mortgages Loan Officer Loans Banks 467