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. million in Q2 2022.

Banks 381

Banks Mortgages Loans Investor 381

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. The Salt Lake City-based lender says it’s worked with over 1 million homeowners since its founding in 2002 and funded $11.6 The space remains dominated by depository banks.

Banks 343

Banks Renovation Marketing Lending 343

Housing Wire

DECEMBER 7, 2023

Flagstar ’s presence and expertise in the third-party wholesale mortgage origination market have combined to create a history of success extending over 35 years. Business partners that work with Flagstar see its one-stop-shop business model as a convenient and complementary platform and a catalyst to growing their own businesses.

Lending 301

Lending Banks Technology Mortgages 301

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 394

Banks Mortgages Loans Equity 394

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. With 35 years of experience in the mortgage business, Flagstar has reputation for successfully navigating the ebb and flow of an ever-changing housing market. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 314

Lending Banks Technology New Construction 314

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 342

Marketing Principal Banks Loans 342

Housing Wire

FEBRUARY 13, 2024

The data produced when properties are listed for sale contains essential market information that can serve many business and risk management use cases,” said Ben Graboske, president of mortgage data and analytics for ICE fixed income and data services.

MLS 364

MLS Technology Mortgages Banks 364

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 384

Mortgages Loan Officer Lending Loans 384

Housing Wire

JUNE 6, 2023

Union Home Mortgage (UHM), an independent mortgage banking company, announced on Tuesday that it has appointed Linda Thomas as regional manager for the company’s Florida operations. “Florida has always been a key focus for us. Union Home Mortgage Corp. We’re happy to have her on the team.”

Loan Officer 357

Loan Officer Banks Lending Mortgages 357

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 333

Banks Lending Industrial Mortgages 333

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. “Normally, I talk about the remarkable work you did over the previous year. on a standard 30-year fixed-rate mortgage.

Fixed-rate mortgage 380

Fixed-rate mortgage Banks Lending Mortgages 380

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Pleadings filed in the case — now pending in U.S.

Bankruptcy 386

Bankruptcy Banks Pre-approval Principal 386

Housing Wire

SEPTEMBER 10, 2021

According to the OCC, the fine is also a result of the bank violating the terms of a 2018 compliance consent order , which alleged that Wells Fargo did not implement or maintain a compliance risk management program proportionate with the bank’s size, complexity and risk profile, resulting in “reckless practices.”

Lending 458

Lending Banks Loans Mortgages 458

Housing Wire

FEBRUARY 23, 2024

Rocket Companies , the parent of Rocket Mortgage , lost money in 2023 , but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. These innovative solutions helped us attract new clients into the Rocket ecosystem.”

Equity 381

Equity Bankruptcy Loans Mortgages 381

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 298

Banks Lending Loans Mortgages 298

Housing Wire

SEPTEMBER 5, 2023

Despite difficulties in the mortgage market at large, non-QM lenders are seeing growth and opportunity. Lind is projecting that Acra’s non-QM mortgage originations will increase to about $2.6 Another plus for non-QM lending has been the volatility in the banking sector. “I billion in 2023, an increase from $2.1

Marketing 335

Marketing Lending Loan Officer Banks 335

Housing Wire

DECEMBER 22, 2023

Since inception, both WFG and MyHome have been dedicated to providing transparency and empowerment to all mortgage transaction participants,” Steve Ozonian , the CEO and president of WFG, said in a statement. “As Launched in 2004, 10 of the nation’s top 30 banks work with Volly.

Title 380

Title Staging Technology Banks 380

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 363

Banks Loans Lending Development 363

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. The nonbank lender works with a network of over 700 independent mortgage banks and credit unions. “People will ask us, ‘Are you buying at the peak?’

Banks 477

Banks Mortgages Closing As-is 477

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 307

Mortgages Equity Banks Industrial 307

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 379

Mortgages Banks Technology Finance 379

Housing Wire

JUNE 16, 2023

This bidirectional integration, available to financial institutions, including independent mortgage banks nationwide, enables real-time sharing of loan application data, milestone updates, and documents. ” SimpleNexus , an nCino company, is a developer of mobile-first technology for mortgage lenders. .”

Loan Officer 330

Loan Officer Technology Loans Banks 330

Housing Wire

NOVEMBER 15, 2022

While originations are down due to a volatile mortgage market, the population of underserved borrowers who require non-QM products is on the rise. Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . A look at non-QM borrower profiles. and growing.

Bankruptcy 361

Bankruptcy Short sale Investor Title 361

Housing Wire

JANUARY 4, 2024

“This achievement is huge for us and was a top priority this past year as the integrity of our systems and the policies and practices we have in place to protect sensitive information is integral in today’s marketplace,” said Michael Lucarelli, CEO and co-founder of RentSpree. on average across all industries.

Title 373

Title Land Banks Industrial 373

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 a review of bond-rating and industry reports.

Equity 390

Equity Purchase and sale agreement Marketing Lending 390

Housing Wire

JUNE 22, 2023

This also applies to mortgage financing, despite Southern residents applying for mortgage loans at the same rate as the rest of the nation. In the “ Banking and Credit Access in the Southern Region of the U.S. Key mortgage findings in the second report highlight the difficult road to mortgage financing for Southern consumers.

Mortgages 304

Mortgages Banks Lending Finance 304

Housing Wire

DECEMBER 12, 2022

The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage Finance. The company has cut hundreds of jobs across layoffs in March , May , July and October , underscoring the immense challenges of the current mortgage market.

Marketing 377

Marketing Lending Banks Loans 377

Housing Wire

MAY 17, 2023

Rocket Mortgage ‘s top executives believe the mortgage market is near the bottom, which means a recovery may be on the horizon soon. So yes, we’re toward the bottom in that,” Bob Walters, CEO at Rocket Mortgage and president and COO at Rocket Companies , said. For most banks, it may be an afterthought.

Marketing 311

Marketing Banks Mortgages Industrial 311

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. of the time.

Mortgages 365

Mortgages Banks As-is Closing 365

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those mortgages were originated at interest rates of 3% or less, and rates now are more than 3 percentage points higher.

Loans 375

Loans Debt-to-income ratio Banks Mortgages 375

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 420

Mortgages Technology Loan Officer Loans 420

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 It primarily works with small- and medium-sized businesses. billion in assets at the end of 2020.

Mortgages 353

Mortgages Lending Banks Loans 353

Housing Wire

APRIL 7, 2023

Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. This remark comes on the heels of the collapse of Silicon Valley Bank on March 10, the second-biggest bank failure in U.S. When this back and forth was unfolding, mortgage demand rose 2.9% I think so too.

Commercial 349

Commercial Banks Fixed-rate mortgage Residential 349

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. Catherine Cortez Masto (D-NV) and Rep.

Banks 335

Banks Loans Equity Finance 335

Housing Wire

MAY 30, 2023

And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Another crucial part of building the tech is having “a lot of people” using the system, which is an advantage for Blend , according to Ghamsari.

Loan Officer 340

Loan Officer Loans Banks Technology 340

Housing Wire

APRIL 30, 2023

The other focus should be where mortgage rates go; only a little happened last week. Mortgage rates, once again, didn’t move too much this last week; the bottom level range was 6.50%, while the top was 6.67%; we ended the week at 6.59%. The fear of not having an increase in inventory this spring should be put to rest.

Marketing 517

Marketing Banks Mortgages As-is 517

Housing Wire

JULY 22, 2022

Non-QM lender First Guaranty Mortgage Corp. Sprout Mortgage imploded in early July, leaving its employees out in the cold. Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. It has since been sued by its former employees.

Lending 365

Lending Banks Bankruptcy Loans 365