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. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV.

Banks 410

Banks Mortgages Due diligence Technology 410

Housing Wire

DECEMBER 9, 2022

Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank , the company confirmed on Friday. . Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. Bank was the ninth largest U.S.

Banks 384

Banks Lending Finance Mortgages 384

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 370

Mortgages Banks Equity Residential 370

Housing Wire

OCTOBER 14, 2020

The bank originated $62 billion in home loans during the third quarter, up 5% from $59 billion in the prior quarter. In the third quarter of 2019, Wells Fargo originated $58 billion in mortgages. The activity was driven by low mortgage interest rates and heightened purchase activity, the San Francisco-headquartered bank said.

Banks 473

Banks Mortgages Lending Residential 473

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. Presented by: HCL America. As the U.S.

Banks 370

Banks Loan Officer Loans Lending 370

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). . Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers.

Banks 370

Banks Lending Loans Mortgages 370

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 370

Mortgages Banks Marketing Residential 370

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.

Mortgages 421

Mortgages Banks Equity Lending 421

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 432

Loans Mortgages Banks Fixed-rate mortgage 432

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. CFPB’s probe into mortgage lenders The CFPB’s probe into mortgage lenders was shared back in Fall 2021.

Mortgages 441

Mortgages Lending Loans Loan Officer 441

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 has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. JPMorgan Chase and U.S.

Mortgages 384

Mortgages Banks Lending Residential 384

Housing Wire

JANUARY 11, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage , a subsidiary of HomeServices of America , promoted Justin Messer to president and CEO on January 1, 2023. Long & Foster Companies is a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate. About 81.7%

Mortgages 397

Mortgages Banks Loans Lending 397

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. This is what we do in America. People’s first reaction was to wonder if this was 2008 all over again. It’s not an investment.”.

Loans 544

Loans Banks Equity Closing costs 544

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

APRIL 5, 2023

Rocket Mortgage hung onto its claim as the nation’s largest home lender in 2022 — by the skin of their teeth. According to Home Mortgage Disclosure Act (HMDA) data collated by mortgage data firm iEmergent , Rocket originated $127.58 billion in home loans in 2022, edging rival United Wholesale Mortgage by about $63.5

Mortgages 370

Mortgages Banks Loans Lending 370

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. The obvious culprit is still rates. This is a different situation.”

Mortgages 450

Mortgages Bankruptcy Principal Finance 450

Housing Wire

SEPTEMBER 13, 2023

New York-based mortgage platform Roam has secured a $1.25 Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. Tim Mayopoulos , former CEO of Fannie Mae , who was named CEO of Silicon Valley Bank N.A. in March, is also listed as a senior advisor.

Mortgages 432

Mortgages Loans Banks Investor 432

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

Mortgages 367

Mortgages Banks Loans Lending 367

Housing Wire

APRIL 9, 2024

The Community Home Lenders of America (CHLA) applauds these initiatives. With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. Homeownership is used far too often as the federal piggy bank.

FHA loan 450

FHA loan Loans Title Mortgages 450

Housing Wire

JANUARY 10, 2023

Wells Fargo , the largest depository mortgage lender in America, announced Tuesday that it will officially exit the correspondent channel and also reduce its servicing portfolio, the country’s largest. . The move isn’t much of a surprise. That was good for no. 3 on the correspondent leaderboard.

Closing 485

Closing Lending Banks Equity 485

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%. Market indicators so far appear tentatively promising.

Equity 466

Equity Lending Banks Loans 466

Housing Wire

SEPTEMBER 29, 2023

Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. Family members or friends can become a non-occupant co-borrower on a mortgage to help borrowers take out a loan if they have poor credit, limited employment history or a high debt balance.

Loan Officer 410

Loan Officer Mortgages Fixed-rate mortgage Loans 410

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. million security backed by non-QM mortgages. million security backed by non-QM mortgages. among others. among others.

Mortgages 384

Mortgages Principal Banks Equity 384

Housing Wire

OCTOBER 19, 2022

Mortgage demand continued its downward trend last week, reaching the lowest level in 25 years, according to the latest survey from the Mortgage Bankers Association (MBA). The MBA survey shows that the mortgage composite index for the week ending Oct. retail residential mortgage applications.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Banks Loans 397

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

Housing Wire

MARCH 25, 2022

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. Freedom Mortgage Bank of America Homepoint Guaranteed Rate. Guaranteed Rate originated slightly less, at $73.8 more than in 2020. from 24.7%.

Mortgages 432

Mortgages Lending Banks Residential 432

Housing Wire

MAY 24, 2023

The Federal Reserve ‘s monetary tightening policy and the recent banking crisis have the potential to change the mortgage-backed securities (MBS) market’s dynamics more than anything seen over the last two decades, according to secondary market experts. The Fed and U.S. trillion this year. trillion this year.

Marketing 384

Marketing Banks Fixed-rate mortgage Investor 384

Housing Wire

OCTOBER 23, 2023

Click n’ Close , a mortgage lender mostly active in the wholesale and correspondent channels, appointed Kara Lamphere to the role of chief operating officer (COO). Prior to joining Click n’ Close, Lamphere was COO at InterLinc Mortgage. Formerly known as Mid America Mortgage, the company changed its name to Click n’ Close in June 2022.

Closing 408

Closing Lending Banks Mortgages 408

Housing Wire

JUNE 8, 2023

Mortgage rates and home prices are high and inventory is paltry, resulting in a largely frozen housing market. Nearly two-thirds of Americans say they are waiting for mortgage rates to drop before entering the market, according to a survey released this week by BMO Financial Group , the eight-largest bank in North America.

Mortgages 384

Mortgages Land Loans Banks 384

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgages 370

Mortgages Loan Officer Banks Lending 370

Housing Wire

FEBRUARY 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%

Technology 384

Technology Sales Mortgages Lending 384

Housing Wire

OCTOBER 13, 2021

billion worth of mortgages from July to September, up 5% from the previous quarter and up 43% year-over-year, the bank announced on Wednesday. Year over year, home lending at the bank rose 27.3%. Mortgage fee and related income came in at $596 million, up from the $548 million JPMorgan Chase generated in the second quarter.

Mortgages 382

Mortgages Banks Lending Development 382

Housing Wire

JANUARY 22, 2021

After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95. In the third quarter, UWM originated $54 billion worth of mortgages. By 10:45 a.m.

Mortgages 520

Mortgages Technology Lending Banks 520

Housing Wire

OCTOBER 28, 2022

More than 18 months after the planned merger was announced, Flagstar Bank and New York Community Bank on Friday received approval by the Office of the Comptroller of the Currency. The depository banks, which first announced plans 19 months ago, extended their agreement to merge from Oct. Mortgage rate volumes of $4.8

Banks 421

Banks Lending Mortgages Finance 421

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. million mortgage fraud settlement with the Securities and Exchange Commission to his name, seems to be back in the mortgage business. Michael Strauss’s Smart Rate?

Mortgages 397

Mortgages Bankruptcy Loans Investor 397

Housing Wire

SEPTEMBER 28, 2022

Pennymac Financial Services named longtime industry veteran Jerry Halbrook as its new chief mortgage innovation officer. Halbrook, who announced his new position via LinkedIn on Monday, brings more than 25 years of experience in mortgages. The executive was most recently chief executive officer at mortgage marketing firm Volly.

Mortgages 384

Mortgages Loan Officer Lending Equity 384

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. In the mortgage space, UBS has plans to wind down a business in its U.S.

Due diligence 370

Due diligence Banks Loans Investor 370