Housing Wire

FEBRUARY 21, 2023

Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. The deal will offload an FoA subsidiary division that offers residential real estate investment loans.

Commercial 370

Commercial Lending Finance Title 370

Housing Wire

JULY 1, 2024

Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. 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. billion in loans.

Loans 448

Loans Mortgages Banks Lending 448

Housing Wire

FEBRUARY 26, 2025

What they found was a product type that had yet to reach their shores in the form of the Home Equity Conversion Mortgage (HECM) for Purchase (H4P). There is also a requirement that a client must seek independent legal advice before taking out a loan. But the pair appreciated the chance to engage with U.S. appears encouraging.

Mortgages 307

Mortgages Banks Equity Development 307

Housing Wire

JULY 12, 2024

A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status.

Equity 488

Equity Loans Commercial Mortgages 488

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 468

Banks Mortgages Fixed-rate mortgage Equity 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

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 335

Commercial Equity Industrial Closing 335

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 418

Equity Loan Officer Residential Commercial 418

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 418

Banks FHA loan Lending Equity 418

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 434

Loan Officer Commercial Investor Banks 434

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 448

Mortgages Banks Finance Branding 448

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 447

Banks Lending Equity Commercial 447

Housing Wire

MAY 23, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. million HECM loans between Oct. million HECM loans between Oct. A study commissioned by the U.S. 1, 1999, and Sept.

Equity 459

Equity Loans Principal Commercial 459

Housing Wire

JULY 8, 2024

Archwest provides business-purpose financing for single-family and multifamily homes, as well as mixed-use and commercial properties. Its product mix includes fix-and-flip loans, bridge loans and construction loans. It has reportedly originated more than $700 million in funding since 2022.

Residential 435

Residential Lending Finance Investor 435

Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

Equity 427

Equity Loans Commercial Mortgages 427

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 396

Commercial Lending Equity Banks 396

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 418

Mortgages Equity Loans Seller concession 418

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 468

Mortgages Banks Marketing Commercial 468

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 448

Banks Mortgages Lending Commercial 448

Housing Wire

OCTOBER 2, 2024

This process included removing a variety of debt — including commercial mortgages, personal loans and auto loans — from balance sheets and making credit available to traders. These assets include fix-and-flip loans (RTLs), homebuilder loans, nonqualified mortgages ( non-QM ) and more.

Lending 459

Lending Banks Loans Residential 459

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. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgages 526

Mortgages Marketing Lending Loans 526

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 397

Mortgages FHA loan Loan Officer Banks 397

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

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

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

Commercial 448

Commercial Residential Equity Banks 448

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 448

Loans Commercial Mortgages Equity 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. According to its website, Santander U.S.

Mortgages 370

Mortgages Banks Equity Residential 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 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

SEPTEMBER 10, 2024

He also described increasing aggregate common equity tier 1 capital requirements for the global systemically important banks (G-SIB) by 9%, and increasing capital requirements for non-GSIB firms subject to the rule by 0.5%. While consistent with the Basel standard, several other major jurisdictions have not adopted this approach.”

Banks 448

Banks Lending Finance Loans 448

Housing Wire

APRIL 28, 2023

Jakes Real Estate Ventures began purchasing the site in 2022 to create commercial and residential spaces. The bank repeatedly misapplied loan payments, wrongfully foreclosed on homes, illegally repossessed vehicles and charged surprise overdraft fees, affecting 16 million customers’ accounts, according to the CFPB.

Lending 459

Lending Banks Commercial Development 459

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

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 334

Mortgages Residential Equity Loans 334

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 393

Finance Commercial Loans Title 393

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 493

Lending Technology Mortgages Equity 493

Housing Wire

MAY 24, 2021

Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.

Land 448

Land Lending Technology Banks 448

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 448

Investor As-is Commercial Equity 448

Housing Wire

FEBRUARY 10, 2022

The government-sponsored enterprise saw a 20% growth in its single-family mortgage portfolio from 2020 to 2021, driven by soaring home prices and an increase in the average size of loans it acquired. trillion in single-family loans in 2021, about two-thirds of which were refinances. It reported $2.7 Overall, Freddie Mac purchased $1.22

Loan Officer 418

Loan Officer Finance Loans Banks 418