Housing Wire
OCTOBER 12, 2021
PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. In response to the lawsuit, PNC Bank said that they “do not wish to offer a comment.”
Housing Wire
JUNE 15, 2023
Inflation has been moderating but it’s still well above the Fed’s comfort level – increasing the likelihood of the central bank going ahead with further rate hikes. The Fed’s updated economic projections showed that central bankers forecast that inflation could finish 2023 at 3.2% The industry wants a complete stop.
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Housing Wire
MARCH 5, 2024
Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.
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 consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.
Housing Wire
MARCH 6, 2024
In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3
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.
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.
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