Remove Banks Remove Mortgages Remove Residential
article thumbnail

Blue Ridge Bankshares is selling its mortgage banking division

Housing Wire

the holding company for Blue Ridge Bank and BRB Financial Group Inc. , on Thursday announced that Blue Ridge Bank has entered into a definitive asset purchase and sale agreement to sell certain assets of its mortgage division. I am pleased that the Monarch Mortgage team has a wonderful opportunity with the acquiring company.

Banks 329
article thumbnail

Dunmor CEO Franck Ruimy on Newfi partnership and the residential investment lending sector

Housing Wire

Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. I think [about] five years ago, banks were still extremely active in the sector.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

MBA teams with Cleveland State University on mortgage banking education program

Housing Wire

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Last week, our first class was led by Jen Peachman from GVC Mortgage. 15 and goes until the end of April, Hoffman told HousingWire.

Banks 370
article thumbnail

Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

article thumbnail

Idaho passes new law to curb use of mortgage trigger leads

Housing Wire

The bill introduces a new section called Consumer Privacy in Mortgage Applications to the Idaho Residential Mortgage Practices Act. The new provisions, which take effect July 1, regulate the use of consumer information linked to mortgage credit inquiries and define who has access to it.

Mortgages 367
article thumbnail

The 29 mortgage servicers that received top marks from Fannie Mae

Housing Wire

Fannie Mae on Tuesday announced the results of its 2024Servicer Total Achievement and Rewards(STAR) program, recognizing 29 mortgage servicers for “competency, capability, and overall performance.” Guild Mortgage Co. PHH Mortgage Corp. JPMorgan Chase Bank M&T Bank Truist Bank The PNC Financial Services Group Inc.

Mortgages 312
article thumbnail

Private equity and insurance companies piling into residential mortgages

Housing Wire

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.