Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 379

Equity Marketing Fixed-rate mortgage Finance 379

Housing Wire

JULY 18, 2022

Depositary lender Bank of America ‘s top executives said Monday their customers haven’t slowed down their activities, despite a fear of a recession in the U.S. Bank of America posted a $2.88 billion profit in its consumer banking division in the second quarter, down from a $2.97 billion profit in the first quarter.

Banks 358

Banks Mortgages Equity Residential 358

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 383

Equity Loans Lending Banks 383

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

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 369

Equity Lending Loans Banks 369

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 368

Equity Marketing Debt-to-income ratio Lending 368

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 BofA’s mortgage assets Bank of America had $227.7 The home equity portfolio was $25.5 The home equity portfolio was $25.5

Mortgages 410

Mortgages Banks Equity Commercial 410

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

Equity 359

Equity Loans Lending Residential 359

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. Learn about the tools lenders should leverage to streamline home equity title and closing. The loans are serviced by Rushmore Loan Management Services.”. for 2021-HE2.

Equity 363

Equity Investor Marketing Title 363

Housing Wire

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. The DOJ also claims that the bank failed to take any meaningful measures to compensate for its lack of physical presence in majority-Black and Hispanic communities. Park National Bank didn’t respond to requests for comment.

Banks 343

Banks Lending Loans Mortgages 343

Housing Wire

DECEMBER 12, 2022

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. Figure Technologies raised $1.6

Banks 383

Banks Mortgages Due diligence Technology 383

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 PNC has a retail banking business that covers residential mortgage, corporate and institutional banking and asset management. PNC is headquartered in Pittsburgh. Of the $101.8

Equity 442

Equity Residential Banks Loans 442

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 360

Mortgages Banks Equity Lending 360

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. ” According to Moynihan’s estimates, a 10% increase in BofA’s capital levels would prevent the bank from making about $150 billion of loans at the margin. Bank of America had $228.7

Mortgages 332

Mortgages Banks Equity Residential 332

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. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 369

Mortgages Banks Equity Residential 369

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 400

Mortgages Banks Marketing Commercial 400

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. The data shows that the bank produced $25.3 One push was made by acquiring the jumbo leader First Republic Bank after federal regulators seized it. billion in the home equity space from $9.6

Mortgages 410

Mortgages Banks Lending Equity 410

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. Bank of America, number 10 among the top U.S. It will be an adjustment for the bank. The bank originated $2.1 mortgage lenders, produced $5.2 The retail channel, with $8.2

Mortgages 415

Mortgages Banks Equity Lending 415

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. So, it’s imperative to speak with a lender.

Renovation 379

Renovation Fixed-rate mortgage Equity Finance 379

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 427

Equity Lending Fixed-rate mortgage Loans 427

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Banks also reported stronger demand for residential real estate loans over the second quarter, with significant demand for QM and non-QM jumbo mortgages.

Mortgages 469

Mortgages Lending Banks Residential 469

Housing Wire

SEPTEMBER 13, 2022

Offsetting the decline in mortgage credit availability decrease was a small increase in new Home Equity Line of Credit (HELOC), a revolving line of credit that allows borrowers to draw money against the credit line up to a preset limit. Companies that plan to roll out HELOC products include loanDepot and New Residential Investment Corp.

Lending 370

Lending Loans Equity Mortgages 370

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 383

Equity Fixed-rate mortgage Principal Loans 383

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). Overall, HELOCS accounted for 20.7% of all loans in the fourth quarter of 2022, nearly five times the 4.6%

Equity 312

Equity Lending Finance Loans 312

Housing Wire

JUNE 29, 2022

The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings. “A Established in 2018, Knox aims to help manage residential rentals with its algorithm-based platform. Prioritizing home equity solutions in a rising rate environment.

Loans 354

Loans Equity Lending Mortgages 354

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 393

Equity Fixed-rate mortgage Principal Mortgages 393

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. In April, MeridianLink paid roughly $28 million to acquire StreetShares , which provides lending technology to banks and credit unions.

Mortgages 401

Mortgages Lending Technology Banks 401

Housing Wire

APRIL 19, 2022

The Mill Valley, California-based REIT operates as a specialty finance house that invests in, acquires and securitizes residential loans. Vesta Equity , another blockchain-enabled marketplace for tokenized home-equity investments. Vesta Equity , another blockchain-enabled marketplace for tokenized home-equity investments. “As

Equity 371

Equity Technology Investor Residential 371

Housing Wire

AUGUST 4, 2021

Depository bank Citi continues to round out its mortgage executive team under the stewardship of Brad Wayman. Louis-headquartered lending operation following a long career at Wells Fargo , the top depository bank by mortgage origination volume in the U.S. The bank funded $33.94 billion in residential mortgages last year.

Mortgages 397

Mortgages Banks Land Lending 397

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 383

Sales Mortgages Principal Equity 383

Housing Wire

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. The “esoteric RMBS” – including reverse mortgage, home equity line of credit (HELOC)-backed deals and private-label securitization (PLS) credit risk transfers (CRT) – may provide a silver lining in 2023, according to KBRA.

Marketing 435

Marketing Equity Loans Investor 435

Housing Wire

FEBRUARY 3, 2022

Piercy explained that companies, primarily bank and nonbank mortgage originators, have been “stockpiling” MSR assets over the past two years, holding them on their balance sheets and waiting for the right moment to sell them. “The On average, historically, we’d be selling $100 billion to $125 billion [in MSRs] annually,” Piercy said.

Purchase and sale agreement 366

Purchase and sale agreement Marketing Equity Banks 366

Marco Santarelli

APRIL 23, 2024

This biannual Financial Stability Report , published in April 2024, raises concerns about both the residential and commercial sectors , highlighting potential risks to financial stability. Residential Market: A House of Cards? On the residential side, the Fed points to historically high housing prices.

Commercial 105

Commercial Residential Equity Banks 105

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 429

Mortgages Banks Loans Industrial 429

Housing Wire

JUNE 22, 2022

UWM’s price-matching guarantee included competitors such as Amerisave, Amwest Funding , NewRez/Caliber Home Loans , Cardinal Financial, Carrington Mortgage Services , Citizen Bank/Franklin American , CMG , Equity Prime Mortgage , Finance of America Mortgage , Flagstar Bank , Freedom Mortgage Corp.,

Loans 427

Loans Loan Officer Banks Mortgages 427

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Rates averaged 5.27% during the same period a year ago.

Mortgages 378

Mortgages Loans Residential Equity 378

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 413

Commercial Residential Equity Banks 413