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

MARCH 20, 2024

One of the major takeaways from Federal Reserve Chair Jerome Powell’s Wednesday news conference was that officials still expect interest rates to come down three times this year, indicating that recent higher-than-expected inflation numbers haven’t been enough to derail previous forecasts.

Industrial 424

Industrial Mortgages Banks Principal 424

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 381

Banks Marketing Mortgages As-is 381

Housing Wire

OCTOBER 16, 2023

The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. at the end of 2025 as Treasury rates decline and as the spread narrows.

Mortgages 489

Mortgages Marketing Banks Industrial 489

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.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

MARCH 27, 2024

New York-based multichannel lender US Mortgage Corporation is expanding its efforts in the reverse mortgage space, illustrating its focus on growth. The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending.

Mortgages 403

Mortgages Loan Officer Lending Loans 403

Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% The 30-year fixed rate decreased five basis points to 6.5% The 30-year fixed rate decreased five basis points to 6.5%

Mortgages 388

Mortgages Fixed-rate mortgage Banks Lending 388

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. At the end of 2023, they anticipated six rate cuts for the year.

As-is 451

As-is Industrial Mortgages Loans 451

Housing Wire

MARCH 14, 2024

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. In the fourth quarter, Blend closed eight new consumer banking deals, which included signing a multiyear consumer banking deal with Citizens Bank. 31, 2022.

Title 398

Title Banks Mortgages Loans 398

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). . And HousingWire brought us together for a spirted “Lunch and Learn” debate on the topic. So why would we extend it to IMBs?

Banks 339

Banks Lending Loans Mortgages 339

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 338

Industrial Banks Residential Lending 338

Housing Wire

MAY 3, 2023

The Federal Reserve affirmed on Wednesday that its next key federal funds rate hikes will depend on incoming data. In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates.

Mortgages 388

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 388

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. “If anything, every day seems to be a higher likelihood that rates are not going higher next year,” he said.

Mortgages 506

Mortgages Equity Banks Sales 506

Housing Wire

MAY 10, 2023

The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. How did mortgage rates react? 27 , I made the case for lower mortgage rates and bond yields in 2023.

Mortgages 535

Mortgages Banks As-is Marketing 535

Housing Wire

JUNE 22, 2023

Consumers in the Southern region of the nation tend to face increased difficulties with accessing credit and pay higher interest rates compared to other regions, according to new reports from the Consumer Financial Protection Bureau (CFPB). In the “ Banking and Credit Access in the Southern Region of the U.S.

Mortgages 324

Mortgages Banks Lending Finance 324

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 344

Mortgages Title Marketing Lending 344

Housing Wire

MAY 16, 2023

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. “They are bringing to us the scale and the relationship of their business.” The financial terms of the transaction have not been disclosed.

Mortgages 354

Mortgages Due diligence Banks Technology 354

Housing Wire

MARCH 12, 2023

We had a 21st-century bank run on Silicon Valley Bank and then the federal government took action over the weekend to stop the contagion. Mortgage rates fell even though the jobs report was stronger than anticipated. The bank failure spooked bond traders who were looking for higher yields and rates.

Mortgages 370

Mortgages Marketing Banks As-is 370

Housing Wire

SEPTEMBER 16, 2022

Wells Fargo will pay $94 million to settle a class-action lawsuit that argued it sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. We basically process the applications according to guidelines that the GSEs tell us we should,” Scharf said.

Mortgages 432

Mortgages Banks Lending Loans 432

Housing Wire

JUNE 17, 2022

Wells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter. “You’re still seeing some activity in the purchase market, which is good, but affordability does start to become an issue as rates continue to increase.”

Mortgages 408

Mortgages Lending Banks Investor 408

Housing Wire

MARCH 28, 2024

A race is a useful analog for the mortgage business, especially as it relates to the refinance business. Anticipating the start of the refi race When mortgage rates finally rose above their historically low levels, the mortgage refinance business started to dry up. In our business, that’s the refinance transaction.

Mortgages 438

Mortgages Technology Loan Officer Loans 438

Housing Wire

AUGUST 17, 2023

The 10-year yield closed today above my key level of 4.25%: Does that mean mortgage rates will hit 8%? To understand what’s happening, here’s how I look at the bond market and mortgage rates in my forecast for 2023. That 10-year yield channel equates to 5.75%- 7.25% mortgage rates.

Mortgages 369

Mortgages Banks As-is Closing 369

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 363

Marketing Principal Banks Loans 363

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 368

Mortgages Loan Officer Banks Lending 368

Housing Wire

APRIL 13, 2022

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. Bank Home Mortgage. But it’s a challenge.

Mortgages 394

Mortgages Banks Technology Finance 394

Housing Wire

JANUARY 27, 2022

Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system. A judge from the U.S. Department of Treasury’s Home Affordable Modification Program (HAMP).

Mortgages 410

Mortgages Banks Loans Lending 410

Housing Wire

JULY 29, 2022

As mortgage origination volume continues to fall from the heights of the pandemic-spurred boom, many lenders see cost-cutting as their top priority this year. With mortgage origination volume expected to drop by about 40% to $2.4 A large portion of those savings can be passed on to consumers via lower rates and fees.”.

Mortgages 383

Mortgages Loan Officer Lending Banks 383

Housing Wire

APRIL 3, 2023

The tumult in the banking industry set off by the failure of Silicon Valley Bank (SVB) on March 10, followed two days later by the collapse of Signature Bank , has sparked fear in the markets over a potential broader contagion infecting the entire financial industry — and ultimately the U.S.

Banks 352

Banks Lending Industrial Mortgages 352

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 379

Mortgages Seller concession Principal Loans 379

Housing Wire

SEPTEMBER 5, 2023

Intercontinental Exchange (ICE) completed its acquisition of Black Knight Tuesday, making the combined company the biggest player in the mortgage tech space. I sat down with Tim Bowler, president of ICE Mortgage Technology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night.

Technology 366

Technology Mortgages Loans Industrial 366

Housing Wire

OCTOBER 16, 2023

And the grind may not end anytime soon, Mortgage Bankers Association President and CEO Bob Broeksmit told attendees in a fiery speech at the trade group’s annual conference this week in Philadelphia. on a standard 30-year fixed-rate mortgage. The Fed, for example, could buy mortgage-backed securities.

Fixed-rate mortgage 398

Fixed-rate mortgage Banks Lending Mortgages 398

Housing Wire

JUNE 30, 2022

While a booming market kept brokers busy in 2021, the 2022 housing market has been underscored by rising interest rates, inflation and geopolitical turbulence. In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 334

Lending Banks Technology New Construction 334

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.

Marketing 351

Marketing Banks Fixed-rate mortgage Investor 351

Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . billion production volume in 2021.

Mortgages 378

Mortgages VA loan Loans Banks 378

Housing Wire

MAY 8, 2023

Flagstar Bank , a top-25 U.S. mortgage lender, recently participated in two M&A deals. In December 2022 , the bank concluded the merger with New York Community Bancorp after waiting for regulatory approvals for over a year. “We are what we call a one-stop shop mortgage model,” he said. .

Banks 319

Banks Lending Loans Mortgages 319

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

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”. “We

Lending 421

Lending Mortgages Marketing Loans 421