Housing Wire

SEPTEMBER 19, 2024

We are excited to deliver the Heartland Bank brand to our reverse mortgage customers,” said Medina Cicak, the bank’s newly appointed chief commercial officer. The average loan term at repayment is 6 years, and the average initial reverse mortgage loan amount is $142,000,” the bank explained, a figure that comes out to roughly $97,000 in U.S.

Mortgages 430

Mortgages Banks Finance Branding 430

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 482

Banks Commercial Residential Lending 482

Housing Wire

SEPTEMBER 17, 2024

The goal of the JV is to securitize the loans and invest across a range of securities in sponsored transactions, the two companies and residential mortgage investment manager Imperial Fund Asset Management said on Tuesday. The lender began servicing some investor loans in 2008.

Mortgages 321

Mortgages Residential Equity Loans 321

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. As we continue to grow our portfolio, we’ll use equity as well as debt … a lot of the banks that he works with also do commercial lending.

Loan Officer 417

Loan Officer Commercial Investor Banks 417

HomeLight

JULY 16, 2024

While it may initially seem complex, how to calculate home equity is actually quite simple. What may be more difficult is deciding how and when to use your home equity. In this post, we’ll show you four easy steps to calculate your home’s equity and help you tap into what you need — and what to consider before you do.

Equity 112

Equity Loans Commercial Mortgages 112

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

SEPTEMBER 1, 2023

New York-based investment firm Cerberus Capital Management has entered into a definitive agreement to acquire home equity lender Spring EQ , the companies announced on Friday. The transaction will allow Cerberus executives to realize new opportunities as demand for home equity solutions in the U.S. accelerates.

Equity 403

Equity Loan Officer Residential Commercial 403

Housing Wire

AUGUST 31, 2023

Mars Bank — an independent community bank in Pennsylvania — offers mortgage lending, retail and commercial banking in six locations throughout the state. million across 234 loans in the past 12 months, according to the mortgage data platform Modex. million in origination across 205 loans over the past 12 months, Modex showed.

Banks 403

Banks FHA loan Lending Equity 403

Housing Wire

JANUARY 21, 2021

Notarize has tapped Larry D’Angelo as its first president and chief commercial officer, the company announced on Thursday. He also spent the past years working with private equity firms Cove Hill Partners and M33 Growth’s portfolio companies. billion revenue business.

Commercial 360

Commercial Equity Industrial Closing 360

Housing Wire

MAY 7, 2024

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. Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital.

Banks 429

Banks Equity Lending Commercial 429

HomeLight

JUNE 30, 2024

Looking to fund your next real estate project in San Antonio with a hard money loan? Whether you’re scoping out a charming fixer-upper in Woodlawn or planning to purchase a commercial property downtown, hard money lenders in San Antonio offer the speed and flexibility you need. How does a hard money loan work?

Hard money loan 116

Hard money loan Loans Home sale contingency Finance 116

Housing Wire

AUGUST 14, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck. Late last month, FOA also posted an infomercial featuring the actor to its YouTube channel.

Finance 417

Finance Mortgages Marketing Branding 417

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 430

Mortgages Banks Equity Commercial 430

Housing Wire

AUGUST 8, 2024

Longbridge is also a top 10 lender of Federal Housing Administration (FHA)-insured Home Equity Conversion Mortgages (HECMs). This was largely tied to proprietary loan originations, typically geared for higher-value homes with loan limits of up to $4 million. million in Q2 2024, which includes its proprietary loans.

Loans 430

Loans Commercial Mortgages Equity 430

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. mortgage industry are in the past.

Banks 451

Banks Mortgages Fixed-rate mortgage Equity 451

Marco Santarelli

JULY 31, 2024

For decades, commercial real estate has been the bedrock of the American economy. With over a trillion dollars in commercial real estate loans maturing in the next two years, the perfect storm is brewing, Harvard Business Review reports. A steady, reliable giant. But now, cracks are appearing in this foundation.

Commercial 64

Commercial Banks Loans Investor 64

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Higher interest rates have slowed down the economy and made loans prohibitively expensive. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties.

Lending 113

Lending Commercial Banks Construction 113

Housing Wire

APRIL 4, 2023

Rithm Capital , the parent company of mortgage lenders Newrez and Caliber Home Loans , is expanding its business to Europe. 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.

Commercial 387

Commercial Lending Equity Banks 387

HomeLight

JUNE 20, 2024

Are you looking to finance your next real estate project in Houston with a hard money loan ? Whether you’re eyeing a fixer-upper in The Heights or planning to invest in a commercial property in Downtown, hard money lenders in Houston offer a flexible and speedy alternative to traditional financing.

Hard money loan 115

Hard money loan Loans Home sale contingency Finance 115

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. NYCB’s provisions for loan losses surged to $552 million in Q4 2023, up from $62 million in the previous quarter.

Mortgages 451

Mortgages Banks Marketing Commercial 451

HomeLight

JULY 12, 2024

Are you planning your next real estate investment in Virginia and considering a hard money loan? Whether you’re eyeing a fixer-upper in Richmond’s historic districts or a commercial property in Roanoke, hard money lenders offer the quick and flexible financing solutions you need. How does a hard money loan work?

Hard money loan 106

Hard money loan Loans Home sale contingency Lending 106

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 New York Community Bancorp announced a $2.6

Banks 370

Banks Commercial Lending Loans 370

Housing Wire

MAY 25, 2023

The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. The company had 53 active loan officers and 30 branches, per the Modex data. loans, adjustable rates, and home equity, among others.

Mortgages 388

Mortgages FHA loan Loan Officer Banks 388

Eye on Housing

FEBRUARY 10, 2023

According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans.

Loans 122

Loans Loan Officer Commercial Lending 122

Housing Wire

SEPTEMBER 25, 2024

Extolling the virtues of notice pleading is fine, but letters of intent on commercial property that ultimately go nowhere are legion,” McCoy wrote. Kortas and Grella founded NEXA seven years ago after leaving Equity Prime Mortgage. As of Wednesday, NEXA was the largest U.S.

Mortgages 417

Mortgages Due diligence Brokerage Loan Officer 417

Housing Wire

APRIL 18, 2023

Mortgage, home equity business Its mortgage business, however, reported disappointing numbers, an issue led by elevated 30-year fixed mortgage rates. BofA’s production decline follows the track of JPMorgan Chase and Wells Fargo , which also posted double-digit mortgage loan production decreases during the first quarter. below the $16.4

Banks 370

Banks Mortgages Equity Loans 370

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 468

Finance Seller concession Loan Officer Loans 468

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. 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.

Mortgages 403

Mortgages Equity Loans Seller concession 403

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. According to its website, Santander U.S.

Mortgages 370

Mortgages Banks Equity Residential 370

Housing Wire

MARCH 7, 2024

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. Home equity lines of credit (HELOCs) and closed-end second (CES) mortgage deals are expected to account for $11 billion of the increase. And future rate cuts mean less return [for investors].

Investor 430

Investor As-is Commercial Equity 430

Housing Wire

JANUARY 31, 2023

First Internet Bancorp , parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for sale in the secondary market. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 430

Banks Mortgages Lending Commercial 430

Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Additionally, they should assess their creditworthiness and financial stability, as lenders will often consider these factors when approving loan applications.

Loans 108

Loans Finance Construction Commercial 108

Housing Wire

MARCH 28, 2024

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. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Better Home & Finance Holding Co. ,

Loan Officer 441

Loan Officer VA loan Loans Technology 441

Housing Wire

JULY 1, 2024

Name Job Title Company Name Ali Haralson President Auction.com Amy Jo Plummer Vice President of Customer Experience Maxwell Anita Blue President LGBTQ+ Real Estate Alliance Candy Nowak Chief Credit Officer CMG Financial Cecilia Choy Chief Operating Officer ICE Mortgage Technology Cerita Battles Head of Community & Affordable Lending Chase Charis (..)

Lending 482

Lending Technology Mortgages Equity 482

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. That’s all it says.”

Development 430

Development Loans Banks Mortgages 430

Housing Wire

OCTOBER 26, 2023

Yearly decreases were reported across the commercial, purchase and refinance segments, with purchase order volume take the largest hit, dropping by over 7,000 opened orders to 53,506 orders. This category includes things like home equity loans and lines of credit. .

Title 416

Title Commercial Equity Residential 416

Housing Wire

JANUARY 4, 2023

Finance of America closed its forward mortgage origination unit in October to invest in the company’s reverse and commercial originations, lender services and portfolio management segments. The Chicago lender started offering personal loans in July.

Finance 389

Finance Commercial Loans Title 389