Housing Wire

JULY 18, 2023

Under the latest rumored changes to Basel III regulations , large depository institutions would see residential mortgage capital requirements that far exceed international standards, according to a report by Bloomberg. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Lending 364

Lending Banks Mortgages Residential 364

Housing Wire

JUNE 3, 2022

Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6% The post Residential construction jobs now 7.6%

Residential 455

Residential Construction Banks Renovation 455

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 376

Banks Mortgages Loan Officer Residential 376

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 346

Banks Mortgages Commercial Lending 346

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. regulators. mortgage industry are in the past.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business.

Banks 355

Banks Mortgages Loans Loan Officer 355

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Trade groups have opposed the new regulations.

Banks 471

Banks Commercial Residential Loans 471

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. retail residential mortgage applications. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals. ” Mr.

Banks 367

Banks Mortgages Fixed-rate mortgage Loans 367

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 355

Banks Mortgages Equity Residential 355

Housing Wire

NOVEMBER 16, 2021

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. Troy, Michigan-based Flagstar, a federal savings bank with some $27 billion in assets, and New York Community Bancorp (NYCB) announced plans to merge in April.

Banks 431

Banks Marketing Lending Loans 431

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 381

Banks Mortgages Due diligence Technology 381

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 338

Banks Lending Loans Mortgages 338

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 368

Banks Loan Officer Loans Commercial 368

Housing Wire

DECEMBER 21, 2022

I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision. on or about December 20, Figure said.

Banks 438

Banks Mortgages Technology Lending 438

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 398

Banks Mortgages Loan Officer Lending 398

Housing Wire

JULY 13, 2022

What does ESG’s growth and current ubiquity mean for residential MBS markets? If done responsibly, ESG and RMBS should coexist in a positive, self-reinforcing, meaningful way, and one that establishes the residential mortgage market as a best practices leader in the movement overall. Others are less sanguine about the movement.

Residential 342

Residential Mortgages Investor Development 342

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. Expect independent mortgage banks to continue taking share from the large commercial depositaries, which are still shrinking their footprints in lending and servicing,” Hagen said in a report on Tuesday.

Mortgages 412

Mortgages Banks Equity Commercial 412

Housing Wire

JANUARY 2, 2024

New York-based nonbank mortgage lender RealFi (formally known as Residential Home Funding Corp. Purchases comprised about 66%, conventional loans were 45% and 95% were banked loans. The FDIC was the receiver of Washington Mutual Bank after it failed during the 2008 financial crisis. 15 and said our last check would be on Dec.

Loan Officer 426

Loan Officer Residential Banks Loans 426

Marco Santarelli

MAY 2, 2024

Powell Warns of Bank Failures The stability of the banking sector is a critical component of the global financial system, and recent statements from the Federal Reserve (Fed) have highlighted concerns about potential bank failures. The Fed has identified banks with high concentrations in these areas as being at risk.

Banks 72

Banks Commercial Residential Lending 72

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 338

Equity Mortgages Banks Commercial 338

Housing Wire

MARCH 21, 2024

Concerns over Basel III Endgame Fratantoni also expressed concern that the recent Basel III Endgame proposal would accelerate the trend of the mortgage market shifting away from depository institutions, particularly large banks, toward non-depositories and independent mortgage banks. banks in comparison to international standards.

Industrial 344

Industrial Banks Residential Lending 344

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 444

Equity Residential Banks Loans 444

Housing Wire

FEBRUARY 5, 2021

Closing out this week’s people mover announcements, Western Alliance Bank named Jim Karr as national sales manager for its correspondent mortgage solutions team, which is part of the bank’s Specialized Mortgage Services group. Thompson led the company through its most successful year ever, funding over $2.5

Banks 263

Banks Mortgages Lending Investor 263

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 399

Mortgages Banks Marketing Commercial 399

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 for the year from $44 billion in 2022.

Mortgages 409

Mortgages Banks Lending Equity 409

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 350

Mortgages Banks Marketing Residential 350

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 327

Mortgages Banks Equity Residential 327

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. Deposits at Bank of America were $1.88

Mortgages 357

Mortgages Banks Equity Lending 357

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi was the 19th-largest residential mortgage lender in America by origination volume in the first half of the year, according to a data analysis by Inside Mortgage Finance.

Mortgages 384

Mortgages Banks Lending Residential 384

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

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 473

Mortgages Lending Banks Residential 473

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA).

Loan Officer 371

Loan Officer Loans Banks Title 371

Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 billion in penalties to settle a civil action alleging misconduct related to the underwriting, issuance and sale of residential mortgage-backed securities (RMBS) before the 2008 financial crisis. The settlement with the U.S. It acquired the rival this year for $3.4

Due diligence 339

Due diligence Banks Loans Investor 339

Housing Wire

JANUARY 30, 2023

Daras’ professional career spans more than four decades in the banking and mortgage banking industry. His specializations include risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing, according to a statement from Cenlar. territories.

Banks 370

Banks Mortgages Residential Finance 370

Housing Wire

DECEMBER 13, 2023

It’s purely driven by interest rate risk, and it’s also being driven by a lack of liquidity and a loss of deposits in the banking system [a major purchaser of whole loans and mortgage-backed securities in the past].”

Mortgages 370

Mortgages Marketing Banks Investor 370

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. But over the last ten years, Bank OZK, a small bank from Arkansas, has grown to become one of the most powerful financiers of large real estate projects in the U.S. Bank OZK has humble roots.

Banks 65

Banks Construction Finance Commercial 65

Housing Wire

MARCH 23, 2022

The new REMIC, Mill City Loan Holdings LLC , will serve as a mortgage conduit for funds managed by CarVal while also developing relationships with originators to acquire “residential mortgage assets across multiple strategies,” according to a CarVal statement announcing the launch of the REMIC, which will do business as Mill City Loans.

Banks 376

Banks Bankruptcy Loans Investor 376