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. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% BofA’s mortgage assets Bank of America had $227.7 from the $3.9

Mortgages 421

Mortgages Banks Equity Commercial 421

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. In total, 76.6%

Banks 370

Banks Mortgages Loans Loan Officer 370

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 441

Banks Mortgages Fixed-rate mortgage Equity 441

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 370

Banks Mortgages Equity Loans 370

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 It also had $84.3

Mortgages 441

Mortgages Banks Marketing Commercial 441

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 Barr said that the U.S.

Banks 504

Banks Commercial Residential Loans 504

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 416

Equity Mortgages Banks Commercial 416

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. decline from the first quarter, and a 9% decline from a year ago, according to Inside Mortgage Finance.

Lending 384

Lending Banks Commercial Finance 384

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. For The Roscoe State Bank, Piper Sandler & Co.

Lending 370

Lending Banks Commercial Loan Officer 370

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion from the Federal Home Loan Banks , $10.5 billion in Bank Term Funding Program borrowings. Pacific Western Bank reported $11.4

Banks 397

Banks Commercial Loans Investor 397

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB).

Banks 383

Banks Commercial Mortgages Brokerage 383

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. City National was accused of the illegal practice of avoiding the provision of mortgage services to majority-Black and Hispanic neighborhoods.

Banks 384

Banks Loan Officer Loans Commercial 384

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 384

Banks Finance Commercial Technology 384

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 410

Banks Lending Mortgages Commercial 410

Housing Wire

DECEMBER 21, 2023

Dovenmuehle Mortgage , a mortgage sub-servicing company, has informed authorities in Illinois that it will impose a layoff affecting hundreds of employees next year. However, higher mortgage rates this year led mortgage origination volume to decline to $1.6 14 to the state authority. .” trillion, compared to $2.2

Mortgages 431

Mortgages Commercial Banks Investor 431

Inman

MARCH 1, 2024

Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac.

Banks 171

Banks Commercial Loans Mortgages 171

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We HousingWire reported on the restructuring last week, noting that the bank cut hundreds of jobs at Flagstar, according to laid off employees. 19 among mortgage lenders in America.

Mortgages 397

Mortgages Lending Banks Commercial 397

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. said in a statement.

Mortgages 384

Mortgages FHA loan Loan Officer Banks 384

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 434

Mortgages Title Marketing Lending 434

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 370

Mortgages Banks Equity Residential 370

Inman

MAY 1, 2024

Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain.

Banks 136

Banks Lending Commercial Investor 136

Housing Wire

JULY 14, 2023

The Maine state agencies filed the lawsuit, Franklin Savings Bank v. Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. The CFPB goes on to cite U.S.

Mortgages 369

Mortgages Commercial Banks Loans 369

Housing Wire

MARCH 14, 2023

However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : inflation data, recessionary data, or something else we don’t even see coming? What will drive mortgage rates now?

Mortgages 384

Mortgages Banks Commercial Loans 384

Inman

FEBRUARY 9, 2024

Regional banks are in the spotlight again as cracks begin to show in their balance sheets due to the ongoing distress in the commercial real estate sector.

Banks 149

Banks Commercial Lending Mortgages 149

Housing Wire

JULY 14, 2023

Wells Fargo and JPMorgan Chase, two top-five depository lenders that struggled more than the overall mortgage market in the final three months of 2022 , have started to show real signs of improvement. The bank’s mortgage servicing rights – carrying value (period-end)­– decreased by 6%, falling from $9.9 billion in Q2 2022.

Mortgages 367

Mortgages Banks Loans Lending 367

Housing Wire

MARCH 1, 2024

DiNello was the president and CEO of Flagstar Bancorp , a bank recently acquired by NYCB. Long Island-based NYCB, which concluded the acquisition of Flagstar Bank in December 2022 and rescued Signature Bank in March 2023, has faced a confidence crisis due to its exposure to commercial real estate loans.

Banks 420

Banks Loans Commercial Mortgages 420

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Banks 370

Banks Lending Commercial Loans 370

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 75

Banks Commercial Residential Lending 75

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. banks in comparison to international standards.

Industrial 426

Industrial Banks Residential Lending 426

Housing Wire

AUGUST 1, 2023

billion in new mortgages for apartment buildings with five or more units in 2022, a reduction of around 1% when compared to 2021 levels. This is according to an annual report of the multifamily lending market compiled and released by the Mortgage Bankers Association (MBA). government under the Home Mortgage Disclosure Act (HMDA).

Lending 369

Lending Commercial Banks Mortgages 369

Housing Wire

OCTOBER 12, 2023

If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp., Law360 and National Mortgage News first reported on AmeriFirst’s motion seeking approval of loan sales. million to Centier Bank. Centier, in return, would release $1.4

Loans 410

Loans Bankruptcy Sales Commercial 410

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 522

Mortgages Marketing Lending Loans 522

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. All of this combined to push commercial lending to a standstill. Plus, many owners have no other option.

Lending 113

Lending Commercial Banks Construction 113

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. Veritex is one of Texas’ largest banks, with $8.8 The investment in Thrive comes amid a wave of M&A activity in the mortgage lending space.

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 441

Fixed-rate mortgage Loans Mortgages Loan Officer 441

Housing Wire

DECEMBER 14, 2022

Nexbank, a privately held state-chartered bank in Texas and a subsidiary of NexBank Capital, Inc. promoted Brian Ralston to executive vice president and chief mortgage banking officer. Prior to this role, Ralston served as the senior vice president of mortgage banking at NexBank since 2013. billion.

Banks 397

Banks Lending Title Commercial 397

RIS Media

MARCH 24, 2022

Commercial and multifamily mortgage delinquency rates declined in the fourth quarter of 2021, down or flat for every major investor group at the end of 2021, according to the Mortgage Bankers Association’s (MBA) latest report. Key facts: Banks and thrifts (90 or more days delinquent or in non-accrual): 0.5%, a decrease of 0.10

Commercial 98

Commercial Mortgages Banks Investor 98