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. Upon closing of the [deal], the company will no longer have a reportable commercial originations segment.”

Commercial 369

Commercial Lending Finance Title 369

Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . The executive mentioned that recently the company consolidated the wholesale channels in mortgage and commercial businesses to bring efficiency and enhance cross-sell.

Finance 370

Finance Commercial Mortgages Investor 370

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.

Finance 435

Finance Mortgages Marketing Branding 435

Housing Wire

AUGUST 31, 2020

This collaboration has brought on the truest sense of community.” – Bill Dallas, president of Finance of America Mortgage. Still, few bring the degree of holistic focus of Finance of America Cares (FOA Cares), which aims its generosity at both the wider world and the workforce within Finance of America.

Finance 370

Finance Commercial Mortgages As-is 370

Housing Wire

JUNE 26, 2024

Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. FOA is optimistic about the ultimate results the move will have, according to its announcement.

Finance 412

Finance Principal Commercial Equity 412

Housing Wire

NOVEMBER 8, 2021

Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company. While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex.

Finance 395

Finance Mortgages Lending Equity 395

Housing Wire

APRIL 1, 2022

Finance of America CEO Patti Cook. In February, Finance of America CEO Patti Cook announced her retirement after a successful career in finance that spanned 45 years. How is Finance of America approaching what could be a difficult year for originators? Patti Cook : Finance of America was built purposefully different.

Finance 397

Finance Industrial Development Mortgages 397

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. After the merger, Finance of America is slated to receive a $250 million investment from institutional investors. billion valuation.

Finance 268

Finance Lending Commercial Title 268

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. year-over-year, according to Inside Mortgage Finance. The company ranked no. 33 among the top U.S.

Commercial 418

Commercial Finance Loans Mortgages 418

Housing Wire

MAY 21, 2024

This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans. These loans often require higher capital reserves, making residential mortgages more attractive by comparison.

Residential 488

Residential Equity Mortgages Purchase and sale agreement 488

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience.

Lending 397

Lending Banks Commercial Finance 397

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

JANUARY 3, 2024

Commercial property firm CBRE estimates that rent prices will only grow 1.2% As home and financing prices were too high for prospective buyers, many turned to single-family rentals instead, buoying demand. Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth.

Construction 482

Construction Commercial Property Management Residential 482

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

Mortgages 448

Mortgages Banks Finance Branding 448

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

MAY 7, 2024

According to Inside Mortgage Finance (IMF) estimates, Flagstar produced $14.2 The investment aims to strengthen the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. billion in mortgages through its third-party originator channel in 2023, making it the ninth-largest U.S.

Banks 445

Banks Equity Lending Commercial 445

Housing Wire

SEPTEMBER 24, 2024

Roemanu , the holding company for Toorak Capital Partners and Merchants Mortgage , announced on Tuesday that it has hired former Finance of America executive Charles Macintosh as its chief operating officer. Founded in 2016, it connects small-balance residential and commercial mortgage originators with institutional capital.

Residential 432

Residential Commercial Finance Loans 432

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 467

Mortgages Banks Marketing Commercial 467

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . year-over-year, according to Inside Mortgage Finance. The company ranked no. 33 among the top U.S.

Closing 459

Closing Finance Commercial Mortgages 459

Housing Wire

FEBRUARY 4, 2021

Guaranteed Rate announced Wednesday it will air a 60-second commercial featuring Ultimate Fighting Championship fighter Dustin Poirier and NASCAR driver Ryan Newman during Super Bowl LV on Sunday, Feb. The cost of running an ad during this year’s Super Bowl is expected to be around $5.5 million per 30-second clip.

Commercial 459

Commercial Lending Mortgages Branding 459

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

Investor 448

Investor Bankruptcy Finance Equity 448

Housing Wire

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. They establish limits for assets backed by residential or commercial real estate and mitigate the impact if the assets lose value.

Mortgages 459

Mortgages Loans Commercial Finance 459

Housing Wire

MAY 21, 2024

Planet Home Lending is an originator, correspondent lender , servicer and subservicer of agency and nonagency residential and commercial mortgages. Founded in 2007, it was the only top 10 national lender to grow its sales volume on a year-over-year basis in the first half of 2023, according to Inside Mortgage Finance data.

Lending 443

Lending Residential Technology Commercial 443

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 424

Commercial Finance Branding Principal 424

Housing Wire

OCTOBER 28, 2022

Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire. . Multichannel lender Finance of America Companies Inc. (FoA)

Mortgages 434

Mortgages Loan Officer Finance Commercial 434

Housing Wire

APRIL 11, 2024

The Nationwide Multistate Licensing System (NMLS) shows that Norcom — as well as Third Party Origination Go and TPO Go — is listed as a trade name under Norwich Commercial Group Inc. year over year, according to Inside Mortgage Finance (IMF) estimates. which had 142 sponsored loan officers and 41 active branches as of April 11.

Loan Officer 448

Loan Officer Commercial Mortgages Loans 448

Housing Wire

MAY 14, 2024

These increases came despite a 2% annual decline in the number of refinance orders opened per day and flat growth in the number of commercial orders opened per day. Commercial volumes continue to be resilient and consistent.” The number of purchase orders opened per day was up 5% on a yearly basis. “In

Title 476

Title Commercial Land Investor 476

Housing Wire

AUGUST 2, 2022

Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. Amid changes to the nonbank lender’s C-Suite and business lines, veteran mortgage executive Bill Dallas left his position as president of Finance of America Mortgage in March. .

Marketing 396

Marketing Finance Commercial Mortgages 396

Housing Wire

JUNE 7, 2023

“Christine is a passionate and influential leader in real estate finance and is a terrific choice to lead MBA and its members through the challenges and opportunities our industry faces,” said Matt Rocco , the 2023 MBA chairman and president of Colliers Mortgage.

Commercial 369

Commercial Finance Lending Construction 369

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

FEBRUARY 3, 2022

The decision will not impact the commercial mortgage business. Inside Mortgage Finance reported that Santander residential production totaled $2.7 The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. billion in 2020, but there are no figures for 2021.

Banks 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

JUNE 18, 2024

“He brings an unparalleled understanding of M&A, capital markets and corporate finance and, through his time at Freddie Mac, an intricate knowledge of the home buying market at a time when our Homes.com platform is experiencing exponential growth,” Florance said in a prepared statement. .

Commercial 448

Commercial Branding Brokerage Investor 448

Housing Wire

SEPTEMBER 9, 2022

An influential banking trade group this week argued that the Federal Housing Finance Administration (FHFA) should not permit nonbank lenders and real estate investment trusts to become members of the $1 trillion Federal Home Loan Bank system. Member institutions are able to borrow money cheaply and can pass savings on to members.

Banks 459

Banks Commercial Finance Loans 459

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

OCTOBER 10, 2024

Prominent housing finance attorney Gina Hough and her associate Trevor Cardo have joined Ballard Spahr ‘s housing finance practice, the firm announced this week. Hogh, a former vice president and deputy general counsel at Fannie Mae , will join as senior associate, said housing finance practice chair Peter Michaud.

Finance 333

Finance Commercial Development As-is 333

Housing Wire

MARCH 5, 2024

Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. Kasnet, chairman of Two Harbors, said in a statement. Before joining Pagaya, Vas was CEO of Caliber Home Loans.

Principal 440

Principal Commercial Loans Mortgages 440

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 467

Loans Mortgages Due diligence Banks 467