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. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

MAY 7, 2024

According to Inside Mortgage Finance (IMF) estimates, Flagstar produced $14.2 In December 2022, Flagstar Bank concluded its merger with New York Community Bancorp , which recently received a $1 billion equity investment from a group led by former U.S. lender in the space. Last year’s volume declined 29.5%

Banks 447

Banks Equity Lending Commercial 447

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 448

Investor Bankruptcy Finance Equity 448

Housing Wire

JULY 8, 2024

Global asset manager Bain Capital announced Monday that it has acquired a controlling stake in Archwest Capital , a California -based company that offers financing to residential real estate investors. Archwest provides business-purpose financing for single-family and multifamily homes, as well as mixed-use and commercial properties.

Residential 435

Residential Lending Finance Investor 435

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We billion AUD, or roughly $1.2 billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

Housing Wire

MAY 15, 2024

market share, according to Inside Mortgage Finance (IMF) estimates. In January 2024, the bank suffered a confidence crisis after reporting a net loss in the last quarter of 2023 due to a provision for loan losses of $552 million, mainly impacted by its exposure to commercial real estate loans. billion in volume and a 12.3%

Loans 468

Loans Mortgages Due diligence Banks 468

Housing Wire

MARCH 8, 2024

banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other [property types] that have been affected a lot,” Powell said. in Q2 2023.

Banks 493

Banks Commercial Residential Lending 493

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 billion in mortgages in 2023.

Mortgages 468

Mortgages Banks Marketing Commercial 468

Housing Wire

APRIL 4, 2023

Rithm, a New York-based asset manager, is opening an office in London to seek equity and debt investments across the real estate and consumer finance sectors, the company announced on Monday. Migliara is a veteran of asset-backed securities, consumer lending platforms, and residential and commercial real estate.

Commercial 396

Commercial Lending Equity Banks 396

Housing Wire

SEPTEMBER 17, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later. The company also unveiled a series of new TV spots with former AAG spokesman Tom Selleck.

Commercial 429

Commercial Finance Branding Principal 429

Housing Wire

SEPTEMBER 10, 2024

Barr said the proposed changes include “reducing the risk weights for residential real estate and retail exposures, extending the scope of the reduced risk weight for certain low-risk corporate debt, and eliminating the minimum haircut for securities financing transactions,” he said.

Banks 448

Banks Lending Finance Loans 448

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. the retail and commercial businesses, has around 9,000 employees. The decision will not impact the commercial mortgage business.

Mortgages 370

Mortgages Banks Equity Residential 370

Housing Wire

JANUARY 4, 2023

Kathryn Amor, former senior vice president of Finance of America Companies (FoA), has taken on a new role at Guaranteed Rate as the Chicago-based lender looks to diversify its product mix amid the mortgage downturn. That same month, Guaranteed Rate also added home equity line of credit (HELOC) options for homeowners.

Finance 393

Finance Commercial Loans Title 393

Housing Wire

MARCH 20, 2023

Flagstar, the 19th-largest mortgage lender in the country, acquired $38 billion in Signature’s assets, including approximately $25 billion in cash and $13 billion in loans, which were exclusively commercial and industrial loans. New York Community Bancorp announced a $2.6 JPMorgan was the leader with $20 billion and an 18% share.)

Banks 370

Banks Commercial Lending Loans 370

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Loan production in the home equity arena was $1.8 The home equity portfolio was $25.5 On Tuesday morning, the top-20 U.S. mortgage lender stated it produced a volume of $3.4 from the $3.9

Mortgages 448

Mortgages Banks Equity Commercial 448

Housing Wire

JANUARY 31, 2023

First Internet Bank will end its direct-to-consumer operations in the first quarter of 2023 and shifts its focus to origination efforts on its floating rate loan products — most notably its commercial construction and small business lending — as well as its higher-yielding fixed rate programs, such as franchise finance. million.

Banks 448

Banks Mortgages Lending Commercial 448

Housing Wire

JULY 25, 2024

FDIC ) in March 2023, has faced a confidence crisis related to its commercial real estate portfolio. The bank recently received a $1 billion equity investment from a group led by former U.S. Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital.

Banks 493

Banks Equity Commercial Mortgages 493

Housing Wire

MARCH 7, 2024

“The rating agencies and bond market have recognized the pristine nature of [residential mortgage-backed securities, or RMBS] and are rewarding that over time with tighter and tighter spreads, which allows for better financing, which then allows for better pricing ultimately back to the borrower,” Warden said. “My

Investor 448

Investor As-is Commercial Equity 448

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. in the second quarter from the first quarter to $135 billion, according to Inside Mortgage Finance estimates.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

APRIL 18, 2023

So mortgages, credit, munis, financing, futures, FX, all of them had a pretty good quarter,” Alastair Borthwick, Bank of America’s chief financial officer, told analysts. Mortgage, home equity business Its mortgage business, however, reported disappointing numbers, an issue led by elevated 30-year fixed mortgage rates.

Banks 370

Banks Mortgages Equity Loans 370

Housing Wire

APRIL 28, 2023

Over the next 10 years, the partnership could result in “up to $1 billion” in capital and financing from Wells Fargo and grants from the Wells Fargo Foundation, the companies said. Jakes Real Estate Ventures began purchasing the site in 2022 to create commercial and residential spaces.

Lending 459

Lending Banks Commercial Equity 459

Housing Wire

FEBRUARY 10, 2022

The Federal Housing Finance Agency has prioritized expanding access to credit while prioritizing safety and soundness. In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances. The post Freddie Mac posts $12.1B

Loan Officer 418

Loan Officer Finance Loans Banks 418

Housing Wire

MARCH 19, 2021

Given the apartment business has ~$1 bln of invested equity today, this suggests at least $1.5 The business has a total equity commitment of $1.25 It’s not clear yet if the company’s commercial mortgage business or mortgage finance arm will be included in the spin-off.

Land 529

Land Development Equity Construction 529

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 476

Technology Title Development Lending 476

Housing Wire

MARCH 28, 2024

Better Home & Finance Holding Co. , The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform. Going forward, Better is focused on driving market share and reaching profitability in the medium term. million in full year 2022.

Loan Officer 459

Loan Officer VA loan Loans Technology 459

Housing Wire

AUGUST 11, 2023

Freddie Mac is required to conduct annual stress tests in an effort to “assess capital adequacy under [the Federal Housing Finance Agency (FHFA)’s] rule implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) stress testing requirements,” the results explained.

Commercial 370

Commercial Finance Equity Design 370

Housing Wire

MARCH 1, 2024

Long Island-based NYCB, which concluded the acquisition of Flagstar Bank in December 2022 and rescued Signature Bank in March 2023, has faced a confidence crisis due to its exposure to commercial real estate loans. billion in mortgages in 2023, according to Inside Mortgage Finance (IMF) estimates. Flagstar originated $15.7

Banks 447

Banks Loans Commercial Mortgages 447

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. That was just over 45% of the company’s mix, according to Inside Mortgage Finance. billion volume in 2021, up 33.7%

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Freddie Mac has long purchased cash out refinances , which give homeowners whose homes have appreciated in value the ability to access some of the equity in their home.

Loans 448

Loans Mortgages Banks Lending 448

Housing Wire

AUGUST 29, 2024

Largely nonprofits, mission-based landlords provide affordable housing as a tool for systemic change, including advancing racial equity, reducing economic disparities, and strengthening community resiliency. Rightsizing financing terms would help to ensure that these vital properties don’t crumble under the weight of debt service.

Land 433

Land Development Commercial Property Management 433

Housing Wire

APRIL 14, 2023

population — own more than $30 trillion in residential, commercial, industrial and agricultural property. White professionals also dominate the commercial real estate sector. Murphy Cheatham is the Diversity, Equity, and Inclusion Program Manager at the commercial real estate firm CBRE. Carey School of Business.

Commercial 397

Commercial Land Development Industrial 397

Housing Wire

FEBRUARY 8, 2024

Before that, he spent nearly a year as EVP of direct lending at Go Mortgage and served for eight years as president of consumer direct at Lending.com , a Finance of America company. “We While rates are still high, Two Harbors will work with second liens and home equity products through its origination business.

Lending 433

Lending Mortgages Principal Loans 433

Housing Wire

MARCH 28, 2022

commercial spaces/building and residential homes/townhomes) and inconsistent transactional processes, fragmentation in the market has prevented real-estate from adopting technology as quickly as other sectors – until now. While real estate is the largest asset class in the world, it’s a segment that is still highly fragmented.

Marketing 397

Marketing Title Closing costs Technology 397

Housing Wire

MARCH 28, 2023

“Financial news this month has been dominated by ructions in the commercial banking industry , as some institutions’ risk management functions proved unequal to the rising level of interest rate,” Lazzara said in a statement.

Commercial 418

Commercial Equity Banks Mortgages 418

Housing Wire

MARCH 23, 2023

The nation’s warehouse lenders are a lifeline of liquidity for the nonbank mortgage sector, providing IMBs with lines of credit and other financing that serve as key ingredients in the sausage-making of mortgage origination. of its common equity tier 1 capital [or CET1, a key regulatory capital measure].” billion to $5.2

Industrial 448

Industrial Banks Lending Equity 448

Realty Biz

SEPTEMBER 14, 2022

If you’ve ever purchased a home, you’re probably familiar with the term “equity” and what it means. When it comes to buying a house, your down payment is the initial equity you have in the property. The rest is financed through your loan with a bank, which you slowly pay off over time. . How Does Preferred Equity Work?

Commercial 92

Commercial Equity Investor Finance 92

Housing Wire

AUGUST 16, 2024

“Multifamily lending fell by roughly half in 2023 as sales transactions declined and far fewer property owners sought to refinance their loans,” Jamie Woodwell, the MBA’s head of commercial real estate research, said in a statement. a year prior but still above pre-pandemic levels.

Investor 468

Investor Lending Equity Mortgages 468