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WaFd Bank exits home mortgage lending, says model is ‘unsustainable’

Housing Wire

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. That is bad news for banks like WaFd Bank, because it has made the business of originating mortgages for our portfolio unsustainable.

Lending 397
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Rocket makes a Super Bowl commercial comeback

Housing Wire

I cant share the exact cost, but as you can imagine, a Super Bowl commercial especially one thats never been done before is a significant investment. The vision for Rocket was already shiftingwere not just about mortgages, were about homeownership. The ad has been a year in the making, Mildenhall shared. Thats a big distinction.

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Wells Fargo sells most of its commercial mortgage servicing to Trimont

Housing Wire

Wells Fargo has agreed to sell most of its commercial mortgage servicing portfolio to Atlanta-based Trimont. The deal is expected to make Trimont the largest servicer of multifamily and commercial loans in the U.S. an 11% share of the country’s commercial real estate lending market. and international commercial mortgages.

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No, homeowner delinquency rates aren’t elevated

Housing Wire

These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. However, there is a big difference between apartment lending and homeowners who have a 30-year fixed-rate mortgage.

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Navigating movement in the mortgage industry series: Post-closing matters are important too

Housing Wire

Introduction As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns.

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Proprietary reverse mortgage business in Oregon could be in danger

Housing Wire

A bill introduced into the Oregon Senate that seeks to limit the amount of equity a reverse mortgage lender can receive after the sale or transfer of a property could potentially halt the availability of proprietary product offerings in the state. It’s a nonrecourse loan that is negatively amortizing, and balances increase over time.

Mortgages 349
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Outsourcing for efficiency: How SitusAMC is enhancing primary market origination with third-party resources

Housing Wire

In a changing real estate market , mortgage lenders face increasing demand. If high mortgage rates and increased liquidity management arent challenging, then regulatory changes, operation inefficiencies, and economic uncertainty are enough. Fortunately, SitusAMC can handle that, letting mortgage originators focus on their goals.

Marketing 368