Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. One of these groups could emerge from this downturn as industry leaders.

Banks 355

Banks Mortgages Loans Investor 355

Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

Equity 372

Equity Finance Purchase and sale agreement Investor 372

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 356

Mortgages Loan Officer Banks Equity 356

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 342

Banks Lending Mortgages Equity 342

Housing Wire

MAY 22, 2023

Residential mortgage industry analysts and executives continue to see challenges ahead. For starters, the banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies. Is the banking crisis over?

Industrial 364

Industrial Mortgages Banks Commercial 364

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Equity 375

Equity Purchase and sale agreement Marketing Lending 375

Housing Wire

MARCH 23, 2023

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs).

Industrial 397

Industrial Banks Lending Equity 397

Housing Wire

MAY 22, 2023

Residential mortgage industry analysts and executives continue to see choppy waters ahead. The banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies. Is the banking crisis over? economy.

Industrial 307

Industrial Mortgages Banks Commercial 307

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” In 2021, mortgage originations hit a record high of $4.4 Today, three of four mortgage loans are issued by independent mortgage companies.

Banks 359

Banks Mortgages Fixed-rate mortgage Loans 359

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day.

Banks 365

Banks Mortgages Loans Investor 365

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 370

Industrial Mortgages Loan Officer Banks 370

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion in volume, according to industry forecasters. But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. trillion to $1.7 trillion.

Banks 398

Banks Mortgages Loan Officer Due diligence 398

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 387

Banks Mortgages Loans Equity 387

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic.

Banks 291

Banks Lending Finance Investor 291

Housing Wire

MARCH 14, 2023

March came in like a lion for the banking industry with a trio of bank failures , including the nation’s 16 th largest bank, Silicon Valley Bank (SVB), with assets of $212 billion. The other banks laid to rest in early March were crypto-friendly lenders Silvergate Capital Corp. ($11.4

Banks 335

Banks Equity Mortgages Industrial 335

Housing Wire

OCTOBER 24, 2023

Trade groups and fair housing associations applauded the changes, including the extension of the implementation timeline and recognition of Special Purpose Credit Programs (SPCPs) in a bank’s CRA rating. Meanwhile, some associations say the new rule did not make the racial wealth equity goals of the law explicit enough.

Banks 312

Banks Lending Equity Development 312

Housing Wire

JANUARY 8, 2024

To continue fostering innovation across the industry and better serve these homebuyers, regulators must take aim at one of the largest impediments to innovation: monopolies. The formation of a monopoly in the mortgage industry would slow the introduction of new solutions that would improve access to credit and customer experience.

Equity 416

Equity Lending Banks Technology 416

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. Stated differently, you are dealing with individuals that may be in an equity prison.

Equity 415

Equity Loans Bankruptcy New Construction 415

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 334

Equity Lending Loans Banks 334

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. Top-20 U.S.

Mortgages 315

Mortgages Banks Equity Lending 315

Housing Wire

SEPTEMBER 14, 2023

Real estate investment trust Redwood was founded in the early 1990s as the need for more private investors in the mortgage market grew. “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space.

Equity 313

Equity Banks Investor Residential 313

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. As of March 8, according to Commerce Bank , the prime rate was 7.75%.

Equity 353

Equity Marketing Debt-to-income ratio Lending 353

Housing Wire

APRIL 19, 2021

The most surprising truth here is that the mortgage industry, awash with profits from the past year or so, has turned an almost blind eye toward these steps. In fact, he works for an FHFA director who controls everything from executive hiring decisions, public communications and mortgage policy. But where is the private sector?

Industrial 493

Industrial Mortgages Banks Loans 493

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The lender’s guide to surviving this mortgage market. As the U.S. Presented by: HCL America.

Banks 337

Banks Loan Officer Loans Lending 337

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 337

Mortgages Banks Equity Land 337

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. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. mortgage lenders, produced $5.2

Mortgages 395

Mortgages Banks Equity Lending 395

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30.

Bankruptcy 351

Bankruptcy Banks Finance Lending 351

Housing Wire

FEBRUARY 10, 2021

Freddie Mac announced Wednesday the creation of new leadership roles in order to address equity in housing in single- and multifamily housing businesses. Freddie Mac appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing. Pamela Perry.

Equity 523

Equity Fixed-rate mortgage Investor Development 523

Housing Wire

OCTOBER 11, 2023

Leading property data and analytics company CoreLogic ’s newly launched digital mortgage platform (DMP) aims to streamline the mortgage process and improve efficiency for lenders. CoreLogic acquired digital mortgage tech provider Roostify in February. CoreLogic acquired digital mortgage tech provider Roostify in February.

Mortgages 333

Mortgages Loan Officer Banks Lending 333

Housing Wire

DECEMBER 26, 2023

Kyle Joseph, a specialty finance equity research analyst at Jefferies , believes that the worst of the current mortgage cycle may be behind us, a sentiment shared by most analysts covering this industry. It really sent shockwaves through the industry.” Mortgage rates will moderate down to about 6% to 6.25%.”

Mortgages 492

Mortgages Equity Banks Sales 492

Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner? Excellent turn times.

Equity 350

Equity Title Technology Inspection 350

Housing Wire

JULY 18, 2023

Bank of America (BofA), a top-20 U.S. mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. But executives at all three banks expect some major regulatory headwinds. BofA had an 11.6%

Mortgages 290

Mortgages Banks Equity Residential 290

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 397

Mortgages Banks Loans Industrial 397

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 361

Mortgages Banks Equity Residential 361

Housing Wire

APRIL 8, 2024

The Mortgage Bankers Association (MBA)’s policy advocacy group, the Mortgage Action Alliance (MAA), is urging its members in the state of Massachusetts to support the continued use of remote telephone and video counseling for reverse mortgages in the state following the lapse of an exemption allowing for remote counseling.

Mortgages 293

Mortgages Equity Banks Industrial 293

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgages 355

Mortgages Marketing Banks Loans 355

Housing Wire

MARCH 27, 2024

Reverse mortgage software and calculator provider Ibis Software announced this week that it appointed Robert Sivori, a reverse mortgage industry veteran, to its board of directors. Sivori has nearly 30 years of experience in the forward and reverse mortgage spaces.

Equity 395

Equity Banks Industrial Mortgages 395