Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion from the Federal Home Loan Banks , $10.5 billion in Bank Term Funding Program borrowings. Pacific Western Bank reported $11.4

Banks 418

Banks Commercial Loans Investor 418

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 448

Loans Due diligence Investor Technology 448

Housing Wire

JULY 18, 2023

Under the latest rumored changes to Basel III regulations , large depository institutions would see residential mortgage capital requirements that far exceed international standards, according to a report by Bloomberg. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Lending 370

Lending Banks Mortgages Residential 370

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 397

Banks Mortgages Loan Officer Residential 397

Housing Wire

APRIL 5, 2023

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. retail residential mortgage applications. But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S.

Loans 435

Loans Mortgages Fixed-rate mortgage Banks 435

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Still, homebuyers took advantage of declining rates provoked by the turbulence and applied for home loans. retail residential mortgage applications.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 370

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. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 30 to $4.20

Mortgages 468

Mortgages Banks Marketing Commercial 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. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Trade groups have opposed the new regulations.

Banks 513

Banks Commercial Residential Loans 513

Housing Wire

NOVEMBER 3, 2021

market for mortgages that have been dinged up by the pandemic. The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust , has securitized some 45,000 reperforming loans valued in aggregate at $6.8 And they are truly scratch-and-dent loans. Become a member today.

Loans 392

Loans Marketing Residential Banks 392

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

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 397

Banks Loan Officer Loans Commercial 397

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 482

FHA loan Loans Finance Mortgages 482

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 418

Loans FHA loan Principal Marketing 418

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

Loans 468

Loans Banks Residential Finance 468

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S.

Banks 448

Banks Mortgages Loan Officer Lending 448

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 435

Mortgages Marketing Banks Investor 435

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 233

Lending Banks Renovation Loans 233

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

AUGUST 30, 2021

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 The bank, based in Texas, also has branches in Alabama, Florida, Georgia and Tennessee. Specifically, Cadence will provide $4.17

Banks 418

Banks Lending Loan Officer Loans 418

Housing Wire

SEPTEMBER 5, 2023

Despite difficulties in the mortgage market at large, non-QM lenders are seeing growth and opportunity. The non-QM demand for loans is very healthy,” Acra Lending CEO Keith Lind said. “We We are not seeing a similar volume trajectory as the agency market.” billion in 2023, an increase from $2.1 billion last year.

Marketing 418

Marketing Loan Officer Lending Banks 418

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

Loans 433

Loans Marketing Due diligence Residential 433

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. This was a reversal of the previous week’s trend, when homebuyers’ loan demand increased by 5.3%. retail residential mortgage applications. Overall, mortgage applications fell last week by 8.8%

Mortgages 397

Mortgages Fixed-rate mortgage Marketing Loans 397

Housing Wire

JULY 13, 2022

Unfettered free market advocates view it as misguided. The Securities and Exchange Commission has begun the process of developing mandated disclosure regimes for funds that consider ESG factors in their marketing material. What does ESG’s growth and current ubiquity mean for residential MBS markets?

Residential 397

Residential Mortgages Investor Development 397

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. banks in comparison to international standards.

Industrial 452

Industrial Banks Residential Lending 452

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Factors like location and condition of the property and the market demand for REO and other existing home sales, impact the current landscape for REO assets.

Due diligence 435

Due diligence Marketing Mortgages New Construction 435

Eye on Housing

MARCH 30, 2023

According to NAHB analysis of Federal Deposit Insurance Corporation (FDIC) data, large banks (assets greater than $10 billion) have increased their share of the residential construction loan market above pre-Great Recession levels in recent years. The majority of 1-4 residential construction loans are still.

Residential 69

Residential Construction Banks Loans 69

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. The data shows that the bank produced $25.3 billion in home loans, representing only 23% of the $108 billion volume in the previous year, when it was still the kingfish in correspondent lending.

Mortgages 475

Mortgages Banks Lending Equity 475

Marco Santarelli

JUNE 9, 2024

Whispers of a looming financial crisis have begun to circulate, casting a shadow over the once-assured stability of the US banking system. Headlines raise questions about bank insolvency, sparking anxieties among consumers and businesses alike. This article delves into the current state of the US banking system in 2024.

Banks 105

Banks Lending Loans Technology 105

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 370

Loans Equity Lending Mortgages 370

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. trillion to $1.9

Marketing 369

Marketing Banks Principal Loans 369

Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. billion in assets, has a diverse portfolio of residential and commercial real estate assets. or 7% deals.

Marketing 418

Marketing Bankruptcy Loans Principal 418

Housing Wire

JANUARY 17, 2023

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say.

Marketing 476

Marketing Banks Loans Mortgages 476

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 397

Equity Marketing Fixed-rate mortgage Finance 397