Housing Wire

OCTOBER 24, 2023

Trade groups and fair housing associations applauded the changes, including the extension of the implementation timeline and recognition of Special Purpose Credit Programs (SPCPs) in a bank’s CRA rating. Meanwhile, some associations say the new rule did not make the racial wealth equity goals of the law explicit enough.

Banks 312

Banks Lending Equity Development 312

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 433

Banks Mortgages Fixed-rate mortgage Equity 433

Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” s reverse division to transition back into a role as a reverse mortgage broker. That seems to be the general feeling.

Development 387

Development Industrial Mortgages Loans 387

Housing Wire

MARCH 14, 2023

March came in like a lion for the banking industry with a trio of bank failures , including the nation’s 16 th largest bank, Silicon Valley Bank (SVB), with assets of $212 billion. The other banks laid to rest in early March were crypto-friendly lenders Silvergate Capital Corp. ($11.4

Banks 335

Banks Equity Mortgages Industrial 335

Housing Wire

JANUARY 8, 2024

To continue fostering innovation across the industry and better serve these homebuyers, regulators must take aim at one of the largest impediments to innovation: monopolies. The formation of a monopoly in the mortgage industry would slow the introduction of new solutions that would improve access to credit and customer experience.

Equity 416

Equity Lending Banks Technology 416

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023.

Banks 291

Banks Lending Finance Investor 291

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 334

Equity Lending Loans Banks 334

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 353

Equity Marketing Debt-to-income ratio Lending 353

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). This is true, even though we all know there are very few winners when the industry slows down as quickly and significantly as it has over the past 24 months. One of these groups could emerge from this downturn as industry leaders.

Banks 355

Banks Mortgages Loans Investor 355

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 342

Banks Lending Mortgages Equity 342

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

Equity 313

Equity Banks Investor Residential 313

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The bank was followed by Flagstar, with $11.8 billion in volume and a 12.3%

Loans 358

Loans Mortgages Due diligence Banks 358

Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner? Excellent turn times.

Equity 350

Equity Title Technology Inspection 350

Housing Wire

MAY 22, 2023

Residential mortgage industry analysts and executives continue to see challenges ahead. For starters, the banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies. Is the banking crisis over? Even if the U.S.

Industrial 364

Industrial Mortgages Banks Commercial 364

Housing Wire

JUNE 30, 2022

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. FMGC is listed as the only equity security holder in Maverick II Holdings, court pleadings show.

Bankruptcy 351

Bankruptcy Banks Finance Lending 351

Housing Wire

FEBRUARY 10, 2021

Freddie Mac announced Wednesday the creation of new leadership roles in order to address equity in housing in single- and multifamily housing businesses. Freddie Mac appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing. Pamela Perry.

Equity 523

Equity Fixed-rate mortgage Investor Development 523

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. Industry observers expect staff eliminations in mortgage companies to continue as volume falls. As the U.S.

Banks 337

Banks Loan Officer Loans Lending 337

Housing Wire

MAY 22, 2023

Residential mortgage industry analysts and executives continue to see choppy waters ahead. The banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies. Is the banking crisis over? Even if the U.S.

Industrial 307

Industrial Mortgages Banks Commercial 307

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Today, refinances (including cash-out home equity loans) have slowed to a 22-year low of approximately 10% of current loans originated. trillion, and will fall to $1.87

Banks 359

Banks Mortgages Fixed-rate mortgage Loans 359

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We And it is putting its new cloud-based Blend Builder platform front and center.

Banks 365

Banks Mortgages Loans Investor 365

Housing Wire

NOVEMBER 16, 2022

trillion in volume, according to industry forecasters. But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. With such a drastic downturn, the pressure for industry consolidation increases dramatically. trillion to $1.7

Banks 398

Banks Mortgages Loan Officer Due diligence 398

Housing Wire

JULY 30, 2021

While the exit of the large American banking institutions has reduced the visibility of the reverse mortgage product in a number of demonstrable ways, financial planners represent a key business segment that can help to make up some of the ground that was lost by the exit of those institutions from the business. A couple of things.

Industrial 370

Industrial Mortgages Loan Officer Banks 370

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 387

Banks Mortgages Loans Equity 387

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. CCBank, founded in 1993, had nearly $871 million in total assets and $127 million in equity capital at the end of 2023.

Mortgages 356

Mortgages Loan Officer Banks Equity 356

Housing Wire

MARCH 27, 2024

Reverse mortgage software and calculator provider Ibis Software announced this week that it appointed Robert Sivori, a reverse mortgage industry veteran, to its board of directors. Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors.

Equity 395

Equity Banks Industrial Mortgages 395

Housing Wire

APRIL 19, 2021

The most surprising truth here is that the mortgage industry, awash with profits from the past year or so, has turned an almost blind eye toward these steps. billion over any four quarters, impacting many medium and large nonbank sellers, as well some community banks. There is a well-known analogy about a frog and a pot of water.

Industrial 493

Industrial Mortgages Banks Loans 493

Housing Wire

NOVEMBER 18, 2022

These trends have exacerbated industry overcapacity, leading to continual layoffs. The resizing of the housing industry will continue as mortgage lenders work to adjust to the new origination environment, said Shampa Bhattacharya, Fitch director of non-bank financial institutions. Presented by: ServiceLink.

Industrial 389

Industrial Loan Officer Loans Lending 389

Housing Wire

APRIL 18, 2024

Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. The group will continue under the auspices of Mutual of Omaha, which currently stands as the second-largest lender in the reverse mortgage industry behind Finance of America Reverse (FAR).

Equity 343

Equity Loan Officer Mortgages Industrial 343

Housing Wire

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital rules are applied to banks, according to BofA’s executives. The home equity portfolio was $25.6

Mortgages 315

Mortgages Banks Equity Lending 315

Housing Wire

JUNE 8, 2022

“We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. Mortgage industry stakeholders, including the Mortgage Bankers Association , have also pushed for the adoption of special purpose credit programs.

Equity 309

Equity Finance Loans Development 309

Housing Wire

OCTOBER 11, 2023

PNC Bank issued pink slips to an undisclosed number of employees this week as part of its focus on controlling costs. “As No Worker Adjustment and Retraining Notification (WARN) notices were submitted to the Pennsylvania Department of Labor & Industry. PNC is headquartered in Pittsburgh. Of the $101.8

Equity 406

Equity Residential Banks Loans 406

Housing Wire

JULY 18, 2023

Bank of America (BofA), a top-20 U.S. But executives at all three banks expect some major regulatory headwinds. industry is the best industry in the world and actually does a lot of good for all the countries of the world, including the U.S. . billion in home equity loans in the second quarter, compared to $2.60

Mortgages 290

Mortgages Banks Equity Residential 290

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “Volumes came in much lighter than industry expectations and margins were also below what we were expecting; we had thought 3Q22 results were trough levels,” they added. .

Mortgages 395

Mortgages Banks Equity Lending 395

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible. So, for me, the HECM is the go-to product.

Mortgages 337

Mortgages Banks Equity Land 337

Housing Wire

APRIL 10, 2024

The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy , according to a report by Bloomberg. The homebuyer also has the option to purchase an owner’s title policy, which protects the equity they build on the property.

Title 427

Title Closing costs Equity Mortgages 427

Housing Wire

FEBRUARY 3, 2023

The past few years in the housing industry have been nothing short of unprecedented. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. There is risk involved as HELOCs are tied to the prime rate and can continue to rise.

Renovation 356

Renovation Fixed-rate mortgage Equity Finance 356

Housing Wire

JANUARY 22, 2024

Sagent , a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. Sagent’s appointment of Marshall comes amid the company’s goals to deliver the mortgage servicing industry’s first cloud-native software platform this year. now Ally Financial, Inc.

Technology 313

Technology Banks Equity Mortgages 313