Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. Government residential mortgage was an exception, where standards remained basically unchanged. branches and agencies of foreign banks.

Lending 497

Lending Banks Mortgages Loan Officer 497

Housing Wire

FEBRUARY 24, 2025

Cooper won’t be onboarding as many Flagstar Bank employees as initially projected in its $1.4 billion deal to acquire the depository bank’s residential mortgage servicing operations. trillion in its servicing portfolio and has made big upgrades in technology to help recapture loans. It now has north of $1.5

Banks 363

Banks Residential Mortgages Technology 363

Housing Wire

FEBRUARY 14, 2024

The rapid collapse of four regional banks that began last March shocked regulators and investors alike. The banks had courted high-net-worth clients working in speculative tech and crypto startups in Silicon Valley, while also tying up a large portion of the banks’ assets in Treasury securities. By the end of Feb.

Banks 468

Banks Mortgages Commercial Residential 468

Housing Wire

APRIL 18, 2024

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., First Federal Bank has 25 branches in the Southeast and operations in the Midwest, including mortgage centers in Jacksonville, Florida ; Alpharetta, Georgia; Madison, Wisconsin; and Overland Park , Kansas.

Banks 448

Banks Mortgages Loan Officer Loans 448

Housing Wire

MARCH 8, 2024

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. There will be bank failures, but not the big banks.”

Banks 493

Banks Commercial Residential Lending 493

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.

Banks 83

Banks Purchase and sale agreement Loan Officer Loans 83

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. regulators. regulators.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

JULY 8, 2024

Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. The bank entered into an agreement to buy $1.8 billion of single-family residential loans at a discount.

Loans 435

Loans Principal Banks Residential 435

Housing Wire

JULY 16, 2024

Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. billion in home loans. Home equity loan originations came in at $2.4 compared to $2.5

Banks 433

Banks Mortgages Equity Loans 433

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 482

Banks Loan Officer Lending Loans 482

Housing Wire

FEBRUARY 4, 2025

In June 2024, it completed the $70 million acquisition of Great Ajax , transitioning the business from a legacy residential loan platform to a vehicle focused on commercial real estate. A year prior, it acquired Sculptor Capital Management , along with Computershare Mortgage Services and Specialized Loan Servicing (SLS).

Commercial 404

Commercial Residential Loans Banks 404

Housing Wire

AUGUST 14, 2024

Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse ’s U.S. servicing business, expected to close in the first quarter of 2025, benefits the bank by reducing costs and lowering risk for its balance sheet. billion), and 26,500 agency and owned loans ($4.4 servicing business.

Banks 435

Banks Closing Principal Residential 435

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. Executives at First Savings Bank did not immediately respond to HousingWire’s requests for comments. The bank reported a net income of $2.3

Banks 468

Banks Mortgages Lending Loan Officer 468

Housing Wire

JULY 10, 2024

Highlands Residential Mortgage announced that Dan Carson recently joined the company as a senior vice president and area manager of its Park Cities branch in Dallas. PrimeLending and PNC Bank. I love the mortgage industry and I can’t wait to share that passion and drive that comes with it to the Highlands Residential Mortgage Team.“ “We

Residential 433

Residential Mortgages Banks Industrial 433

Housing Wire

NOVEMBER 16, 2021

has been on a tear in 2021 when it comes to pursuing private-label securitizations, with 13 deals backed by some 22,000 home loans valued at $8 billion now under its belt through mid-November of this year. The post Flagstar is banking on the private-label market appeared first on HousingWire. Flagstar Bancorp. Become a member today.

Banks 459

Banks Marketing Lending Loans 459

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

MAY 1, 2023

Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank , federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. First Republic is the largest lender to collapse since the 2008 financial crisis and the second-largest bank failure in American history.

Banks 397

Banks Commercial Loans Principal 397

Housing Wire

NOVEMBER 15, 2024

But in addition to her position as president and CEO at the company, she held various roles for the MBA, including current board member and chair of the MBA residential board of governors in 2023. Rhea’s son, Kevin Rhea, who worked with her at MIG for over two decades, said she was a “force in mortgage banking.”

Investor 370

Investor Mortgages Loan Officer Lending 370

Housing Wire

JULY 1, 2022

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. The seven banks surveyed reported a total of 42,427 modifications completed, a 10.7% of the loans modified included a principal deferral, the OCC said.

Banks 397

Banks Mortgages Principal Renovation 397

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 468

Loans Investor Banks Finance 468

Housing Wire

JULY 19, 2024

Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We Wasmund is also the former CEO of Genesis Capital , which was sold by Goldman Sachs in 2021 to New Residential Investment Corp. , now known as Rithm Capital.

Construction 459

Construction Development Loans Lending 459

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 447

Banks Lending Loans Finance 447

Housing Wire

OCTOBER 17, 2022

Bank of America delivered increases in revenues and net income in the third quarter of 2022, showing that some of its business lines were not walloped by high levels of inflation and economic contraction. Overall, the bank recorded $7.1 billion in home equity loans. billion in net income from July to September, besting the $6.2

Banks 418

Banks Mortgages Equity Loans 418

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 Another $700 million is expected to be invested in mortgage lending, with a focus on rural areas, the development of community mortgage loan officers, small-dollar mortgages and home improvement loans, among other products for LMI borrowers.

Banks 434

Banks Mortgages Lending Loan Officer 434

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

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates. The bank’s total mortgage origination volume reached $9.6

Banks 370

Banks Mortgages Residential Lending 370

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 370

Lending Banks Mortgages Loan Officer 370

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

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The last day for fundings is April 28, the regional bank said in an e-mailed response.

Lending 397

Lending Banks Finance Loans 397

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks. Jumbo loans account for approximately 12% of all loans originated as of February 2022.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

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

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

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. The DOJ also claims that the bank failed to take any meaningful measures to compensate for its lack of physical presence in majority-Black and Hispanic communities. Park National Bank didn’t respond to requests for comment.

Banks 397

Banks Lending Loans Mortgages 397

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

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 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.

Banks 370

Banks Lending Mortgages Residential 370