Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 374

Banks Loan Officer Lending Loans 374

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product.

Development 376

Development Loans Banks Mortgages 376

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 333

Finance Marketing Lending Loans 333

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 414

Loans Closing costs Development Finance 414

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. Roughly 24 hours after filing an objection to the U.S. The Government’s motion should accordingly be denied.”

Banks 320

Banks Bankruptcy Lending Finance 320

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8 The space remains dominated by depository banks. in 2021 to $433 billion.

Banks 337

Banks Renovation Marketing Lending 337

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Many community banks do a great job of mortgage lending to underserved homebuyers. So why would we extend it to IMBs?

Banks 322

Banks Lending Loans Mortgages 322

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 336

Finance Equity Mortgages Principal 336

Housing Wire

APRIL 9, 2021

Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years. There’s a lot of seasoning behind student loans, and the loans perform extremely well.

Lending 345

Lending Banks Loans Finance 345

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

Finance 393

Finance Lending Title Mortgages 393

Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. This undermines Ginnie Mae’s ability to run a market-driven program.” This recommendation is based on two other ideas.

Banks 314

Banks Loans Development Mortgages 314

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. Bank OZK has humble roots. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 351

Loans Purchase and sale agreement Due diligence Industrial 351

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. Because Gastelum’s client started a new job within 30 days, an underwriter at Nova decided that there was no interruption to his income and approved the loan.

Loan Officer 360

Loan Officer FHA loan Loans Mortgages 360

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. These individuals also received inbound calls from individuals interested in obtaining mortgage loans, the order stated.

Loan Officer 340

Loan Officer Loans Banks Title 340

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

Loans 388

Loans Technology Mortgages Finance 388

Housing Wire

FEBRUARY 12, 2024

Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs.

Lending 334

Lending New Construction Construction Finance 334

Housing Wire

FEBRUARY 27, 2024

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. But before diving back in headfirst, it would be worthwhile for lenders to think through what the last two years of scarcity reveal about the normal working model of an independent mortgage bank (IMB).

Finance 390

Finance Technology Loans Industrial 390

Housing Wire

OCTOBER 5, 2023

“…These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” Unlike banks and credit unions, nonbanks can’t hold these [home equity] loans on their balance sheets. …

Equity 385

Equity Purchase and sale agreement Marketing Lending 385

Housing Wire

JULY 13, 2023

Newfi is leading the way in terms of innovation and service for these originations,” Dan Bayer, SVP of non-QM development and strategy, said in a statement. But at times when overall industry transactions are dwindling, non-QM loans allow originators to serve a largely untapped market and expand their offerings to realtors and borrowers.

Lending 350

Lending Banks Loans Mortgages 350

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 429

Equity Lending Banks Loans 429

Realty Biz

OCTOBER 21, 2023

First-time Spec house builders need to understand the nuances of financing to ensure successful projects. From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Builders may face difficulties obtaining financing due to the higher risks of speculative projects.

Loans 108

Loans Finance Construction Commercial 108

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The total volume should not be lower than $100 million for each bank. In the first week of October, the bank also launched a $1.5 In May, Sen.

Banks 336

Banks Loans Equity Finance 336

Housing Wire

SEPTEMBER 12, 2023

Broeksmit also touched on agency-focused policy work, citing the cancelation of a controversial Federal Housing Finance Agency (FHFA) policy that would have imposed a controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios. MBA is also keeping an eye on a developing case before the U.S.

Industrial 381

Industrial Banks Finance Commercial 381

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 329

Mortgages Banks Marketing Residential 329

Housing Wire

SEPTEMBER 11, 2023

She also held senior managerial positions at Federal National Mortgage Association (Fannie Mae) and Countrywide Home Loans , amounting to a 20+ years career in the mortgage industry. Alli also received numerous accolades in her field: she was recognized as one of Housing Wire ‘s 50 “Women of Influence” in 2021.

Investor 337

Investor Finance Banks Industrial 337

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 421

Technology Development Title Lending 421

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Department of Treasury CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing.

Lending 366

Lending Finance Loans Mortgages 366

Housing Wire

OCTOBER 11, 2023

flooding or wildfires) in a loan portfolio to address potential problems. Loan servicers can use predictive analytics that map natural disasters to prepare for a wave of mortgage delinquencies after a natural disaster strikes. “As These studies help locate a concentration of risk (i.e.

Principal 407

Principal Loans Investor Industrial 407

Housing Wire

APRIL 13, 2022

After all, it still takes 43 days, on average, to close a loan. Rocket, the top lender in the country with $351 billion originated in 2021, according to Inside Mortgage Finance, has perhaps invested more than any other lender in America on mortgage tech over the last decade. Bank Home Mortgage. The Minnesota-based U.S.

Mortgages 374

Mortgages Banks Technology Finance 374

Housing Wire

SEPTEMBER 27, 2022

The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. billion in volume , according to Inside Mortgage Finance. As the U.S.

FHA loan 347

FHA loan Lending Banks Finance 347

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

Lending 362

Lending Principal Finance Loans 362

Housing Wire

JUNE 22, 2023

In addition, the groups “request transparency in the process of developing final guidelines for condo and housing cooperative lending requirements.” “Any Any changes to Enterprise condo project or loan approval requirements should be subject to a public comment period of at least 60 days prior to adoption,” the letter states. “Any

Lending 343

Lending Inspection Development Loans 343

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 435

Banks Lending Loans Principal 435

Housing Wire

NOVEMBER 2, 2023

HousingWire: How did the non-QM sector fare this year among rate increases, slow purchase volumes and the difficulties in the banking sector? MW: Non-QM provides a source of financing solutions that caters towards homeownership of a growing population of underserved borrowers in the United States. According to the U.S.

Banks 386

Banks Investor Lending Loans 386

Housing Wire

MARCH 29, 2024

Anna Frankowska was recognized in 2017 as one of Forbes’ “ 30 Under 30 ” in Europe, having studied economics in London before moving to work in investment banking. My parents are retired, and putting my entrepreneurial and finance hats on, I just got to see challenges they face and conversations they’ve had,” she said.

Mortgages 393

Mortgages Finance Loan Officer Equity 393

Housing Wire

JANUARY 27, 2022

Can allegations of redlining sink a bank merger? The merger will create a bank with $45.8 The new organization will be the sixth-largest bank headquartered in the Midwest, Old National said when it announced the transaction. alleging that the bank carried out redlining in its mortgage lending practices.

Banks 360

Banks Loans Lending Development 360