Housing Wire

JUNE 22, 2023

Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. The deal with Village consists of 45,000 home loans securitized by Ginnie Mae. billion owned mortgage servicing portfolio, according to Inside Mortgage Finance (IMF) estimates.

Closing 337

Closing Lending Loans Commercial 337

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . year-over-year, according to Inside Mortgage Finance. The company ranked no. 33 among the top U.S.

Closing 424

Closing Finance Commercial Mortgages 424

Housing Wire

MARCH 21, 2024

I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.” Planet Home Lending is an originator, correspondent lender, servicer and subservicer of agency and nonagency residential and commercial mortgages.

Lending 367

Lending Sales Commercial Loans 367

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. 7 by 9:00 PM EST is the deadline to submit a new floating loan or complete a new forward lock. .

Commercial 379

Commercial Finance Loans Mortgages 379

Broke Agent Media

JANUARY 31, 2023

Fannie Mae multifamily financing provided over $69 billion in 2022 to expand nationwide access to affordable housing. billion Berkadia Commercial Mortgage, LLC: $6.8 billion Arbor Commercial Funding I, LLC: $3.1 billion in 2021 Green Financing : $9.1 billion Small Loans : $3.4 billion in 2021 Green Financing : $9.1

Finance 98

Finance Closing Equity Commercial 98

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 We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement. “We

Mortgages 368

Mortgages Lending Banks Commercial 368

Housing Wire

MARCH 20, 2023

Ultimately, the New York state chartering authority closed the bank on March 12. Flagstar, the 19th-largest mortgage lender in the country, acquired $38 billion in Signature’s assets, including approximately $25 billion in cash and $13 billion in loans, which were exclusively commercial and industrial loans.

Banks 367

Banks Lending Commercial Loans 367

Housing Wire

SEPTEMBER 15, 2020

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Consumer loans such as mortgages and other financial documents require notarization.

Closing 476

Closing Loans Banks Investor 476

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion in fully funded cash proceeds from the global investment firm Atlas SP Partners through a new senior asset-backed financing facility. The company secured $1.4

Banks 383

Banks Commercial Loans Investor 383

Housing Wire

OCTOBER 28, 2022

Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire. . Multichannel lender Finance of America Companies Inc. (FoA)

Mortgages 374

Mortgages Loan Officer Finance Commercial 374

Housing Wire

JANUARY 4, 2023

Kathryn Amor, former senior vice president of Finance of America Companies (FoA), has taken on a new role at Guaranteed Rate as the Chicago-based lender looks to diversify its product mix amid the mortgage downturn. The Chicago lender started offering personal loans in July. It originated $45.2

Finance 375

Finance Commercial Loans Title 375

Realty Biz

OCTOBER 21, 2023

First-time Spec house builders need to understand the nuances of financing to ensure successful projects. From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Builders may face difficulties obtaining financing due to the higher risks of speculative projects.

Loans 108

Loans Finance Construction Commercial 108

Housing Wire

JANUARY 31, 2023

First Internet Bancorp , parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for sale in the secondary market. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 409

Banks Mortgages Lending Commercial 409

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. So that’s keeping the loans on our books and our higher-yield construction loans longer.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

JUNE 1, 2023

Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. Planet, which originates loans through the correspondent and retail channels, plans to grow organically and via mergers and acquisitions. The lender originated $6.5

Mortgages 393

Mortgages Lending Loan Officer Loans 393

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 405

Fixed-rate mortgage Loans Mortgages Loan Officer 405

Housing Wire

AUGUST 31, 2022

Expected to close around Oct. The bank resulting from the deal will offer mortgage lending and servicing, commercial and retail banking, and institutional banking. The lender has roughly 300 mortgage loan officers and 1,800 team members and does in-house processing and underwriting. billion in assets, the companies claim.

Lending 341

Lending Banks Commercial Loan Officer 341

Housing Wire

MARCH 7, 2024

Federal Reserve Chair Jerome Powell indicated in recent congressional testimony that interest rate hikes are now likely at the “ peak for the current tightening cycle ,” after signaling in November of last year that the Fed was close to the end of its war on inflation. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investor 390

Investor As-is Commercial Equity 390

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 437

Technology Development Title Lending 437

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. Interfirst purchased refinance leads and sent them to Woodward to close. The work was not complex, he said.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

MARCH 15, 2023

. “We are still open for business and my team is still working together moving the mortgage loans through our pipeline,” Suzie Porter, director of mortgage operations at SVB, said in a social media post on Tuesday. “We are making new loans and fully honoring existing credit facilities.” was open for business.

Banks 359

Banks Mortgages Loans Loan Officer 359

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. The ability for banks to provide credit to U.S.

Banks 407

Banks Commercial Loans Finance 407

Housing Wire

APRIL 28, 2021

The investment is expected to close in the middle of 2021. “With a similar culture and alignment of values, Veritex has helped Thrive grow by understanding our business and assisting Thrive with tailored financing, including construction warehouse lending. . Presented by: Proctor Loan Protector.

Mortgages 367

Mortgages Lending Banks Loans 367

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. Finance of America shares traded at $1.46

Mortgages 373

Mortgages Finance Loan Officer Commercial 373

RIS Media

AUGUST 11, 2021

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021, a 31% increase from 2020’s volume of $442 billion, according to a new forecast released by the Mortgage Bankers Association (MBA). ” Source: MBA.

Lending 98

Lending Commercial Finance Loans 98

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

Title 361

Title Mortgages Commercial Technology 361

Housing Wire

FEBRUARY 3, 2021

Civic typically loans money to investors who need bridge loans, financing for flips, rentals or rehab projects. It also offers multifamily loans. Civic has funded over 10,000 loans to real estate investors , totaling more than $4.4 billion since its inception in 2014, the company said.

Banks 309

Banks Lending Investor Loans 309

Housing Wire

DECEMBER 15, 2020

LERETA also offers life-of-loan, basic, and commercial determinations, as well as portfolio reviews. including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders. “Our combined industry expertise and experience will continue to provide customers the support they need.”.

Commercial 212

Commercial Lending Loans Banks 212

Housing Wire

APRIL 14, 2022

Long-term, however, they agree the market will work through the changes and likely wind up better off, assuming the Fed’s so-called quantitative tightening strategy manages to tame runaway inflation and chases off its close cousin, a recession. “It As of January 2022, Fannie’s asset portfolio stood at $108.5 in 2009 to 1.9%

Marketing 398

Marketing Purchase and sale agreement Investor Banks 398

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

Mortgages 393

Mortgages Equity Loans Seller concession 393

Norada Real Estate

MAY 3, 2023

Real estate loans are a crucial part of the real estate industry, providing investors with the necessary funds to purchase, renovate, or refinance properties. From conventional loans to government-backed FHA and VA loans, there are various types of real estate loans available in the market.

Loans 52

Loans VA loan FHA loan Hard money loan 52

Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. This includes foreclosed properties, flipped properties, distressed properties, commercial properties and industrial properties. Not necessarily.

Agents 441

Agents Inspection Sales Commercial 441

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Zoning determines land use, such as residential, commercial, or agricultural. Can you imagine buying a lot only to discover it has crept too close to the neighboring lot line?

Land 126

Land Due diligence Title search Finance 126

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021.

Closing 107

Closing Purchase and sale agreement Pre-approval Inspection 107

Housing Wire

MAY 8, 2023

” Meanwhile, Signature brought in high-net-worth customers and took the loan-to-deposit ratio to less than 90%, strengthening the bank’s balance sheet. Lee Smith: That is a transaction we announced in April of 2021, and we closed it on December 1, 2022. It took our loan-to-deposit ratio to less than 90%.

Banks 333

Banks Lending Loans Mortgages 333

Realty Biz

OCTOBER 18, 2023

LendingStandard, a leading name in the commercial real estate finance industry, is excited to announce the strategic expansion of its executive team with the appointment of Mikael Nyberg as the new Chief Operating Officer (COO).

Commercial 87

Commercial Lending Loans Finance 87

Marco Santarelli

APRIL 28, 2024

Republic First Bank , a regional lender with branches in Pennsylvania , New Jersey , and New York , was closed by regulators, and its assets and deposits were taken over by Fulton Bank. The banking community is closely monitoring the situation, as the closure of Republic First Bank could be an indicator of underlying economic stresses.

Banks 105

Banks Commercial Loans Technology 105