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 401

Banks Mortgages Loan Officer Loans 401

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 76

Banks Purchase and sale agreement Loan Officer Loans 76

Housing Wire

NOVEMBER 16, 2021

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. Troy, Michigan-based Flagstar, a federal savings bank with some $27 billion in assets, and New York Community Bancorp (NYCB) announced plans to merge in April. “It

Banks 453

Banks Marketing Lending Loans 453

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. Responses were received from 62 domestic banks and 19 U.S.

Lending 420

Lending Banks Mortgages Loan Officer 420

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

JUNE 6, 2023

The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22. Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states.

Residential 452

Residential Construction Finance Sales 452

Housing Wire

MARCH 7, 2024

Powell acknowledged the mounting opposition to Basel III from the banking sector, assuring lawmakers of forthcoming broad revisions to the regulatory framework that is aimed at recalibrating risk assessment methodologies and capital reserves. banks to earmark billions more in capital reserves.

Banks 380

Banks Lending Residential Staging 380

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% Banks surveyed reported servicing approximately 12.2 compared to 94.2%

Banks 397

Banks Mortgages Principal Renovation 397

Housing Wire

AUGUST 2, 2024

OceanFirst Bank N.A. 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.” Meanwhile, OceanFirst Bank , founded in 1902, had about 200 loan officers as of Friday, the NMLS data shows.

Banks 376

Banks Loans Loan Officer Lending 376

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 441

Banks Mortgages Lending Loan Officer 441

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. servicing business. In the U.S., billion in unpaid principal balance (UPB).

Banks 410

Banks Closing Principal Residential 410

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 million as of December 31, 2022, a 13.7% million. “The

Banks 413

Banks Mortgages Lending Commercial 413

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 391

Banks Loan Officer Lending Loans 391

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 361

Banks Mortgages Loan Officer Residential 361

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 334

Residential Mortgages Banks Industrial 334

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 In its previous five-year plan, from 2018 to 2023, the bank invested $1.75 Regarding the plan governance, the bank will maintain the advisory board created under the 2018 plan, and NCRC will appoint half the members.

Banks 345

Banks Mortgages Lending Loan Officer 345

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 370

Banks Closing costs Lending Equity 370

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 371

Banks Commercial Loans Investor 371

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. The bank has presence in 15 states and Washington, D.C. The bank’s plan also includes $2.8

Banks 352

Banks Lending Loans Finance 352

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 364

Lending Banks Finance Loans 364

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. ” The bank had $227.5 Overall, the bank posted a net income of $6.9

Banks 328

Banks Mortgages Equity Loans 328

Housing Wire

DECEMBER 21, 2022

I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure Acquisition Corp. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision.

Banks 421

Banks Mortgages Technology Lending 421

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 317

Banks Commercial Loans Principal 317

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 339

Banks Lending Mortgages Residential 339

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. retail residential mortgage applications. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals.

Banks 349

Banks Mortgages Fixed-rate mortgage Loans 349

Housing Wire

JUNE 9, 2023

Additionally, the proposed guidance would describe the risks of deficient residential real estate valuations and how financial institutions may incorporate ROV processes into established risk management functions,” the announcement notes. The guidance also prioritizes appraisers’ independence and responsiveness to consumers.

Residential 350

Residential Banks 350

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 328

Lending Banks Mortgages Loan Officer 328

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.

Banks 346

Banks Lending Fixed-rate mortgage Construction 346

Housing Wire

DECEMBER 12, 2022

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution.

Banks 367

Banks Mortgages Due diligence Technology 367

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 338

Banks Lending Mortgages Equity 338

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 346

Banks Loan Officer Loans Commercial 346

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” It is often said that the Fed raises interest rates until something breaks. Today, three of four mortgage loans are issued by independent mortgage companies.

Banks 380

Banks Mortgages Fixed-rate mortgage Loans 380

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. Banks also reported stronger demand for residential real estate loans over the second quarter, with significant demand for QM and non-QM jumbo mortgages.

Mortgages 493

Mortgages Lending Banks Residential 493

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 308

Banks Mortgages Commercial Lending 308

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 Barr said that the U.S. Barr said that the U.S.

Banks 440

Banks Commercial Residential Loans 440

Housing Wire

AUGUST 23, 2023

based Regions Bank $2.95 The Board fined Regions “for its failure to effectively monitor a portfolio of home equity loans for compliance with flood insurance regulations due to changes in loan servicing platforms and third-party service providers,” noting that the bank had a pattern of individual violations of flood insurance regulations.

Banks 297

Banks Equity Loans Residential 297

Housing Wire

JANUARY 12, 2024

Supreme Co urt last week scheduled oral arguments for seven pending cases to take place in February, including one that will decide whether “the National Bank Act preempts the application of state escrow-interest laws to national banks,” according to a publication of the argument schedule and reporting at SCOTUSblog.

Mortgages 459

Mortgages Banks Residential Loans 459