Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. billion of single-family residential loans at a discount, according to the outlet.

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Purchase and sale agreement Mortgages Banks Principal 337

Housing Wire

APRIL 24, 2024

Additionally, its return on tangible common equity rose to 14.5% The company has started the year with excellent momentum, including return on tangible common equity rising to 14.5%,” Chairman and CEO Jay Bray said in a statement. billion in unpaid principal balance (UPB). in Q1 2024, up from 12.5% in the fourth quarter of 2023.

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Equity Lending Principal Technology 282

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 414

Equity Lending Fixed-rate mortgage Loans 414

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. recently rebranded as Rithm Capital ). One of those deals made its way to the market this year.

Equity 366

Equity Loans Residential Banks 366

Housing Wire

FEBRUARY 9, 2024

In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend. But for me, I do a lot of [Home Equity Conversion Mortgage (HECM)] for Purchase. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., I’ve certainly seen more inquiries already.

Mortgages 356

Mortgages Principal Loans Loan Officer 356

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. Well’s MSR portfolio was shrinking even as the MSR market continues to expand, however.

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Marketing Principal Banks Loans 320

Housing Wire

APRIL 26, 2023

The result included a mark-to-market of $63 million, a $1 million severance charge and $10 million losses with equity investments. million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. “But we expect more to come from the banks.

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Principal Banks Equity Loans 326

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 Marty Green thinks of the housing market in 2022 as two very different movies.

Equity 485

Equity Marketing Loans Bankruptcy 485

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 379

Equity Fixed-rate mortgage Principal Loans 379

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 369

Equity Fixed-rate mortgage Principal Mortgages 369

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 304

Sales Mortgages Loans Loan Officer 304

Housing Wire

FEBRUARY 3, 2022

Incenter completed a dozen bulk sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2 On average, historically, we’d be selling $100 billion to $125 billion [in MSRs] annually,” Piercy said. And now we just did over $110 billion for the month of January.”.

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Purchase and sale agreement Marketing Equity Banks 339

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. . The company is licensed in 32 states.

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Sales Mortgages Principal Equity 331

Housing Wire

APRIL 3, 2023

trillion in tappable equity available in February amid rising home prices. Reaction to bank failures According to the Black Knight report, as of the week ending on March 18, purchase lock counts were 21% lower compared to the same week in 2019 — and 30% below the levels for the same week in 2018. In February, it took 33.2%

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Principal Banks Mortgages Equity 388

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank. Cooper Group Inc.,

Banks 360

Banks Principal Finance Equity 360

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. Cooper had 4.3 billion in Q2 2023.

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Purchase and sale agreement Equity Principal Banks 326

Housing Wire

FEBRUARY 13, 2023

In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. among others. million security backed by non-QM mortgages.

Mortgages 294

Mortgages Principal Banks Equity 294

Housing Wire

SEPTEMBER 20, 2023

That demand means now is an opportune time for smaller, struggling independent mortgage banks (IMBs) to sell MSRs to manage cash flow and their balance sheets as pricing is likely at a high point in the market. “I The prime time for getting a deal in the market would probably be this month or next month. Piercy added.

Banks 346

Banks Loans Principal Investor 346

Housing Wire

AUGUST 2, 2023

New York-based Rithm Capital executives see surging rates and increasing capital requirements for banks as an opportunity to acquire diversified assets and operational platforms at a time when the parent company of New Rez and Caliber plans to spin off its mortgage business. The time is now. million the prior quarter.

Mortgages 266

Mortgages Banks Equity Principal 266

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Bankruptcy Mortgages Principal 360

Housing Wire

MARCH 6, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. That was down 3.6%

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Mortgages Seller concession Principal Loans 335

Housing Wire

MARCH 20, 2024

That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s s reverse division to transition back into a role as a reverse mortgage broker. I think things have definitely picked up,” he said.

Development 381

Development Industrial Mortgages Loans 381

Housing Wire

JUNE 3, 2022

Lakeview Trust 2022-EBO 2 involves a pool of 2,063 FHA-backed loans with an unpaid principal balance (UPB) of $405.2 Key to EBO offerings is the fact that the FHA guarantees 100% of the principal balance on the loans it insures. million, with all the loans deemed delinquent. In total, 99.3% are in active foreclosure.

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Loans FHA loan Principal Marketing 344

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well.

Mortgages 391

Mortgages Banks Loans Industrial 391

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgages 437

Mortgages Loan Officer Loans Equity 437

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” In the case of large institutions such as Bank of America , Wells Fargo , and MetLife , we never regained their lost volume.

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Mortgages Bankruptcy Principal Finance 380

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 417

Banks Lending Loans Principal 417

Housing Wire

FEBRUARY 9, 2024

trillion of unpaid principal balance (UPB) in mortgage servicing rights (MSR) by the end of March, a target announced in July 2021 when the portfolio was at $650 billion. Bray said the company will return its focus to equity, which is expected to grow to 14% to 18% by the end of 2025, compared to its current level of 12.5%.

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Loans Principal Equity Banks 350

Housing Wire

OCTOBER 24, 2022

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages. Banks have been net purchasers of MSRs, to the tune of $107.8 billion — compared with $51.1

Principal 256

Principal Banks Loans Mortgages 256

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. Two of the nation’s largest banks, JPMorgan Chase and Wells Fargo & Co.

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Principal Banks Loans Lending 348

Calculated Risk Real Estate

SEPTEMBER 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

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Closing Equity Principal Short sale 124

Housing Wire

APRIL 14, 2023

At a time when the banking system is making headlines, housing finance regulators should appreciate the strength, stability and resilience of the conventional mortgage market backed by private mortgage insurance. After all, it improves financial security, enhances family and community stability, and builds intergenerational wealth.

Finance 320

Finance Equity Mortgages Principal 320

Realty Biz

SEPTEMBER 25, 2021

Your home equity is the difference between what you owe on your mortgage(s) and what your home is currently worth if you sold it today (the appraised value). For instance, if the remaining balance on your mortgage is $195,000 and the market value is $295,000, you have $100,000 of equity in your home. Your equity increases in two ways.

Equity 91

Equity Loans Bankruptcy Mortgages 91

Housing Wire

AUGUST 26, 2022

HousingWire recently spoke with Lee Smith and John Gibson at Flagstar Bank about what originators can do to align their mortgage products and services with the ebb and flow of the housing market and what Flagstar is doing to help clients remain at the top of their game during this turbulent time. Lee Smith: Definitely.

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Mortgages VA loan Loans Technology 321

Realty Biz

JULY 1, 2022

Williams currently serves as Founder and Managing Principal of Dabar Development Partners. Dawanna Williams is the Founder and Managing Principal of Dabar Development Partners – a real estate development firm that offers modern living solutions with intelligent planning, architectural ingenuity, and environmental integrity.

Principal 86

Principal Development Brokerage Residential 86

Housing Wire

FEBRUARY 16, 2022

Carnes added that he is seeing many players active in the MSR market right now, including private-equity funds and real estate investment trusts (REITs). Incenter completed a dozen bulk MSR sales transactions in January involving MSRs for agency-backed loan pools that together had a total unpaid principal balance of $113.2

Marketing 346

Marketing Principal Banks Loans 346

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? What is home equity?

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Equity Finance Loans Closing costs 99