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 410

Banks Mortgages Loans Equity 410

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 297

Banks Debt-to-income ratio Lending Loans 297

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 398

Bankruptcy Banks Pre-approval Principal 398

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 405

Investor Mortgages Banks Principal 405

Housing Wire

JULY 8, 2024

The bank entered into an agreement to buy $1.8 More recently, regional banks have been looking to shed assets ahead of the Basel III Endgame regulations. As with many other regional banks, PacWest had billions of dollars worth of unrealized losses in its bond portfolio and uninsured deposits that were at risk of being pulled.

Loans 356

Loans Principal Banks Residential 356

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually.

Principal 450

Principal Investor Banks Mortgages 450

Housing Wire

AUGUST 4, 2022

The loan must be secured by a principal residence. For banks, there is a potential incentive for making targeted programs. That’s despite a February report by the Urban Institute which found that nonbanks made a greater share of their owner-occupant home purchase mortgage loans to borrowers of color than banks.

Loans 508

Loans Principal Banks Closing costs 508

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 367

Sales Banks Principal Loans 367

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 433

Banks Lending Loans Principal 433

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 392

Commercial Brokerage Due diligence Title 392

Housing Wire

OCTOBER 18, 2024

HOME EQUITY CONVERSION MORTGAGE (HECM): The HECM allows homeowners age 62+ the ability to leverage a portion of their home’s value without a required monthly principal and interest mortgage payment.* HOME EQUITY LINE OF CREDIT (HELOC): The HELOC has no age requirement and is offered through lenders and local banks.

Mortgages 370

Mortgages Principal Equity Loans 370

Housing Wire

MAY 19, 2023

The company’s unpaid principal balance reached $524.8 Between the acquisition of First Republic Bank and the purchase of Rocket’s MSRs, JPMorgan Chase has acquired approximately $126 billion worth of MSRs in the last two months. The spokesperson did not provide additional details on loan type or characteristics.

Principal 104

Principal Loans Mortgages Banks 104

Housing Wire

OCTOBER 22, 2020

According to Fed data, the central bank has bought over $1 trillion in bonds backed by home loans since then. And that’s the rationale for this change, as the GSEs are shouldering significant risks associated with the pandemic — as the principal risk taker, we have to price that risk appropriately.”

Mortgages 538

Mortgages Principal Loans Banks 538

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 When the company shut down, loans were sold to investors, except those remaining with Flagstar Bank and First Horizon.

Bankruptcy 345

Bankruptcy Banks Investor Principal 345

Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week.

Principal 317

Principal Finance Banks Loans 317

Housing Wire

MARCH 6, 2024

In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3

Equity 330

Equity Mortgages Banks Commercial 330

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed rates would be slashed to a median 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels.

Banks 488

Banks Mortgages Principal Investor 488

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 395

Mortgages Banks Fixed-rate mortgage Lending 395

Housing Wire

SEPTEMBER 16, 2022

In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”. Through four offerings to date, Fannie Mae has brought to market 31,780 reperforming loans valued at $5.4

Sales 415

Sales Principal Loans Banks 415

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 Morgan Chase Bank , 6.5%; Rocket Mortgage , 6.4%; and Wells Fargo , 4.7%. billion for the $12.2

Principal 433

Principal Loans Investor Residential 433

Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. billion of single-family residential loans at a discount, according to the outlet.

Purchase and sale agreement 339

Purchase and sale agreement Mortgages Banks Principal 339

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible.

Mortgages 364

Mortgages Banks Equity Land 364

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank.

Banks 387

Banks Principal Finance Equity 387

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 353

Marketing Principal Banks Loans 353

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.

Industrial 422

Industrial Mortgages Banks Principal 422

Housing Wire

APRIL 21, 2022

Perry said that despite statements from banking regulatory agencies, the Federal Housing Finance Agency , the Department of Housing and Urban Development and the Consumer Financial Protection Bureau to reassure lenders that targeted lending programs do not violate fair lending laws, mortgage lenders remain hesitant.

Lending 435

Lending Finance Principal Development 435

Housing Wire

NOVEMBER 18, 2024

Department of Veterans Affairs (VA) and the Federal Home Loan Banks (FHLBs) in New York, Chicago and San Francisco. The new resource provides tools and guidance to facilitate integration and aligns with the growing adoption of VantageScore 4.0 by a number of industry players. These include the U.S.

Mortgages 317

Mortgages Principal Banks Loans 317

Housing Wire

JULY 12, 2024

The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year. The bank had $189 million from servicing revenues in Q2 2024, compared to $144 million in the previous quarter. .” Generating revenues Home lending activity brought in $1.3 billion in net revenues for JPMorgan in Q2 2024, up 11% from $1.18

Mortgages 365

Mortgages Lending Banks Principal 365

Housing Wire

JULY 18, 2024

Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% The analysis incorporates principal amortization and a prepayment assumption in projecting outstanding vintage balances.

Principal 379

Principal Mortgages Banks Loans 379

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 367

Principal Banks Mortgages Loans 367

Housing Wire

AUGUST 9, 2021

The percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased four basis points to 3.63%, and the percentage of loans in forbearance for depository servicers decreased 10 basis points to 3.49%. The options can be used separately or combined. Servicers can also extend the loan term to up to 40 years.

Principal 459

Principal Loans Staging Mortgages 459

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 426

Principal Loans Banks Mortgages 426

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 365

Principal Banks Loans Lending 365

Housing Wire

FEBRUARY 9, 2024

Night and day’ difference When posed with the simple question about how business is going so far this year, David Heilman — principal for HomeGrown Financial in Mount Pleasant, South Carolina — characterized the difference between early 2024 business and the same time last year as “night and day.” “I

Mortgages 394

Mortgages Principal Loans Loan Officer 394

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6

Principal 327

Principal Fixed-rate mortgage Loans Residential 327

Housing Wire

APRIL 25, 2023

“Buyers have begun to adjust to the elevated mortgage rate levels, especially in areas where home prices have adjusted downwards to compensate,” Kelly Mangold, the principal of RCLCO Real Estate Consulting , said in a statement.

Sales 428

Sales Construction New Construction Principal 428

Housing Wire

APRIL 8, 2022

Before joining Deephaven, Heitzmann was principal at LGH Consulting. She also held executive roles at Xome , Wells Fargo , Bank of America and IndyMac Bank. Presented by: Angel Oak. The company recently added Lisa Heitzmann as chief operating officer.

Sales 357

Sales Lending Principal Banks 357