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

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

AUGUST 30, 2021

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 million for redlining practices, according to the federal government. To address these grievances, Cadence has agreed to invest over $5.5

Banks 397

Banks Lending Loan Officer Loans 397

Housing Wire

APRIL 9, 2024

Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. To get a better idea of what motivated the survey and its desire to learn more about reverse mortgages, RMD sat down with WSFS Mortgage President Jeffrey Ruben.

Mortgages 420

Mortgages Equity Banks Brokerage 420

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

FEBRUARY 8, 2024

Bloomberg also reported that several banks, including JPMorgan Chase & Co. and Bank of America Corp. E-signature company DocuSign laid off 6% of its workforce, or about 400 employees, following reports that the fintech company’s talks in exploring a sale have stalled. DocuSign had 7,336 employees at the end of 2023.

Sales 432

Sales Banks Technology Investor 432

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. The settlement with the U.S. It acquired the rival this year for $3.4

Due diligence 370

Due diligence Banks Loans Investor 370

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

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. We have organizations [working] to create some standardization.

Mortgages 410

Mortgages Banks Technology Finance 410

Housing Wire

FEBRUARY 27, 2024

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Of the total, 53.6%

FHA loan 421

FHA loan Loan Officer Loans Mortgages 421

Housing Wire

MAY 23, 2023

Among mortgage brokers, Cohen ranked first. The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Cohen funded $751.4 It’s a two-sided market here.

Mortgages 384

Mortgages Marketing Loans Banks 384

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgages 370

Mortgages Marketing Lending Construction 370

Housing Wire

JULY 11, 2022

Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS). Kumar was a manager at Standard Chartered Bank from 2002 to 2004. According to Kumar, it works like a “C-suite in a box,” but with an independent perspective. .

Mortgages 370

Mortgages Technology Banks Lending 370

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 Veritex is one of Texas’ largest banks, with $8.8 Presented by: Proctor Loan Protector.

Mortgages 370

Mortgages Lending Banks Loans 370

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

FEBRUARY 6, 2023

Home lender PrimeLending has promoted Kim Dybvad to lead its Mid-America division, months after the workforce quit en masse and joined a competitor. She brings her high energy and optimism to work every day, inspiring all around her to achieve their very best.” Last month, PrimeLending sued competitor First Community Mortgage, Inc.

Banks 383

Banks Loans Lending Mortgages 383

Housing Wire

FEBRUARY 27, 2024

As diverse as any other ethnicity, many Black Americans are, at their core, hard-working, family-centric, church members who live, for the most part, in urban areas. Black History Month is a time set aside to recognize and celebrate the contributions, achievements, and history of African Americans throughout U.S. But it wasn’t enough.

Banks 432

Banks Loans Land Commercial 432

Housing Wire

APRIL 18, 2024

Its mission statement included a desire to “champion groundbreaking research focused on reverse mortgages.” Its mission statement included a desire to “champion groundbreaking research focused on reverse mortgages.” The group’s work, however, will continue to be shared with other industry participants.

Equity 431

Equity Loan Officer Mortgages Industrial 431

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

JUNE 15, 2023

Guild Mortgage announced on Thursday the appointment of Lamont Watson as the company’s first vice president of diverse talent development. ” Lamont’s track record in the mortgage industry spans 19 years, during which he helped over 2,500 families achieve homeownership and financial goals. .

Development 370

Development Loan Officer Banks Mortgages 370

Housing Wire

FEBRUARY 15, 2023

Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program.

Closing 284

Closing Mortgages Banks Title 284

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.

Industrial 410

Industrial Mortgages Loan Officer Banks 410

Housing Wire

NOVEMBER 22, 2021

The challenges that lenders, real estate professionals and communities face as they work to increase homeownership among minorities and promote equity in lending can seem too big to tackle. Tony Thompson, III CMB Founder & CEO, National Association of Minority Mortgage Bankers of America. Bernard Nossuli COO, iEmergent.

Lending 396

Lending Equity Banks Mortgages 396

Housing Wire

DECEMBER 20, 2022

Wells Fargo , the largest depository mortgage lender in America, has agreed to pay a civil penalty of $1.7 billion to settle multiple consent orders related to automobile lending, consumer deposit accounts and mortgage lending with the Consumer Financial Protection Bureau (CFPB). .

Banks 370

Banks Lending Loans Mortgages 370

Housing Wire

JULY 12, 2021

Venture capital-backed mortgage lender Better.com is going international. The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. Trussle’s investors include American bank Goldman Sachs and Amsterdam-based venture capital fund Finch Capital.

Brokerage 421

Brokerage Mortgages Loan Officer Banks 421

Housing Wire

MARCH 10, 2023

This week, the Community Home Lenders of America (CHLA) released a special report entitled “The Ubiquity of IMB Regulation.” This report is important to independent mortgage banks (like Atlantic Bay Mortgage ) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers.

Pre-qualification 370

Pre-qualification Banks Loans Mortgages 370

Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. After years of working crazy hours and focusing on growing his business, Ciardelli saw the impact his hard-driving lifestyle was having on his health and close relationships. He knew he needed to make changes. “I

Mortgages 421

Mortgages Loan Officer Loans Technology 421

Housing Wire

AUGUST 1, 2022

Especially evident since the beginning of the COVID-19 pandemic, work-life balance, or should we say work-life harmony, is a key priority for many of today’s professionals. Barkley is an industry veteran who understands better than anyone else the intricacies of balancing work and home life.

Lending 397

Lending Banks Title Industrial 397

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 384

Banks Lending Industrial Mortgages 384

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I The bank’s mortgage servicing rights declined by 5% to $9.3 billion, according to its latest earnings.

Lending 522

Lending Finance Mortgages Banks 522

Housing Wire

MARCH 26, 2021

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo, the largest depository mortgage lender in America, has been plagued by scandals in recent years.

Bankruptcy 466

Bankruptcy Banks Loan Officer Loans 466

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. billion in mortgage loans in the first quarter of 2022, a 29.7%

Mortgages 370

Mortgages Loans Loan Officer Title 370

Housing Wire

JUNE 22, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins. UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release.

Loans 432

Loans Loan Officer Banks Mortgages 432

Housing Wire

JULY 17, 2023

Mozilo was a pioneer of the mortgage industry, though a deeply controversial figure. “Independent of how people outside of the industry may perceive this man, insiders know what an incredible force he was,” his son Eric Mozilo wrote in a LinkedIn post. Mozilo was president of the Mortgage Bankers Association (MBA) in 1991-1992.

Lending 370

Lending Mortgages Banks Loans 370

Housing Wire

JULY 6, 2022

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. When people say credit will get so tight that we are headed back to 2008 levels of lending, they’re telling me they’ve never read the MBA’s mortgage credit availability index, not even one time.

Lending 485

Lending Mortgages Loans As-is 485

Housing Wire

SEPTEMBER 27, 2022

Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division.

FHA loan 384

FHA loan Lending Banks Finance 384

Housing Wire

FEBRUARY 16, 2021

Depository bank Western Alliance has reached a deal to acquire correspondent lender AmeriHome for $1 billion in cash, the firms announced late Tuesday afternoon. With the acquisition, Western Alliance will grab full control of America’s third-largest correspondent lender from an affiliate of financial giant Apollo Global.

Banks 479

Banks Mortgages Closing As-is 479