Housing Wire

NOVEMBER 8, 2021

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company.

Finance 349

Finance Mortgages Lending Equity 349

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 It also had $84.3

Mortgages 401

Mortgages Banks Marketing Commercial 401

Housing Wire

DECEMBER 21, 2023

Dovenmuehle Mortgage , a mortgage sub-servicing company, has informed authorities in Illinois that it will impose a layoff affecting hundreds of employees next year. However, higher mortgage rates this year led mortgage origination volume to decline to $1.6 14 to the state authority. .” trillion, compared to $2.2

Mortgages 385

Mortgages Commercial Banks Investor 385

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. Finance of America, says its collection of companies has originated over $65 billion in loans since 2017. Finance of America operates through retail, wholesale and correspondent channels.

Finance 483

Finance Lending Loans Commercial 483

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% BofA’s mortgage assets Bank of America had $227.7 from the $3.9

Mortgages 409

Mortgages Banks Equity Commercial 409

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 420

Banks Mortgages Lending Loan Officer 420

Housing Wire

MAY 7, 2024

Hoffman has spent more than 30 years in mortgage banking, 22 of them at Flagstar, where he started as an account executive. According to Inside Mortgage Finance (IMF) estimates, Flagstar produced $14.2 billion in mortgages through its third-party originator channel in 2023, making it the ninth-largest U.S.

Banks 346

Banks Equity Lending Commercial 346

Housing Wire

JANUARY 22, 2024

Top-35 mortgage lender New American Funding (NAF) is in negotiations to acquire Chicago-based retail shop Draper & Kramer Mortgage Corp. As part of the deal , NAF would acquire the residential mortgage arm of Draper & Kramer , a property and financial services group established in 1893 by Arthur W. Draper and Adolph F.

Mortgages 338

Mortgages Loan Officer Residential Loans 338

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 376

Mortgages Loan Officer Finance Commercial 376

Housing Wire

MAY 14, 2024

These increases came despite a 2% annual decline in the number of refinance orders opened per day and flat growth in the number of commercial orders opened per day. In April, purchase open orders per day were up 4% over last year, but higher mortgage rates may temper purchase volumes going forward.

Title 382

Title Commercial Land Investor 382

Housing Wire

APRIL 1, 2022

Finance of America CEO Patti Cook. In February, Finance of America CEO Patti Cook announced her retirement after a successful career in finance that spanned 45 years. When you look at how fixed-income developed, mortgage-backed securities were brand new at the time and I was right at the forefront of that work.

Finance 369

Finance Industrial Development Mortgages 369

Housing Wire

JANUARY 31, 2023

According to Cangem, the substantial Fed policy shift last year resulted in significantly higher residential mortgage rates. It harmed the business, as the higher rates caused all mortgage activity to slow. NYCB says it was the 8th-largest bank originator of residential mortgages in 2022, with $24.2 billion in volume.

Mortgages 371

Mortgages Lending Banks Commercial 371

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 393

Mortgages Lending Loan Officer Loans 393

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. After the merger, Finance of America is slated to receive a $250 million investment from institutional investors. billion valuation.

Finance 225

Finance Lending Commercial Title 225

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Banks 410

Banks Mortgages Lending Commercial 410

Housing Wire

APRIL 11, 2024

California-based multichannel mortgage lender CMG Financial announced on Thursday that it acquired Norcom Mortgage ’ s retail assets, expanding its operations in the Northeast with the addition of 25 branches from Maryland to Maine. CMG was the 16th-largest mortgage lender in the country in 2023, with volume of $20.16

Loan Officer 396

Loan Officer Commercial Mortgages Loans 396

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 403

Investor Bankruptcy Finance Equity 403

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. Presented by: FundingShield.

Mortgages 375

Mortgages Finance Loan Officer Commercial 375

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Non-qualified mortgages will continue to be the dominant product in the broker channel, the company said.

Mortgages 365

Mortgages Lending Commercial Brokerage 365

Housing Wire

MARCH 8, 2024

banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other [property types] that have been affected a lot,” Powell said. FDIC), banks held $2.78

Banks 462

Banks Commercial Lending Residential 462

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. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 433

Banks Mortgages Fixed-rate mortgage Equity 433

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S. Santander Bank, NA.,

Mortgages 370

Mortgages Banks Equity Residential 370

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. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

Commercial 381

Commercial Finance Loans Mortgages 381

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. 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.” increase.

Lending 371

Lending Sales Commercial Loans 371

Housing Wire

JULY 31, 2023

mortgage lender, has long described itself as a “one-stop mortgage shop.” But it has built its reputation on its expertise in mortgage. So what exactly is a “one-stop mortgage shop?” “We Smith, senior executive vice president and president of mortgage at Flagstar. Flagstar Bank , a top-25 U.S.

Banks 354

Banks Mortgages Commercial Lending 354

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. SVB’s mortgage origination volume reached $2.4

Banks 361

Banks Mortgages Loans Loan Officer 361

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. Mortgage originations totaled $3.9 Mortgage originations totaled $3.9 below the $16.4

Banks 347

Banks Mortgages Equity Loans 347

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. decline from the first quarter, and a 9% decline from a year ago, according to Inside Mortgage Finance.

Lending 382

Lending Banks Commercial Finance 382

Housing Wire

MARCH 25, 2021

The Mortgage Collaborative announced today the first investment of its recently launched TMC Emerging Technology Fund LP, or TMC Fund. The venture capital program is funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.

Technology 350

Technology Mortgages Commercial Finance 350

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 519

Mortgages Marketing Lending Loans 519

Housing Wire

JUNE 7, 2023

The Mortgage Bankers Association (MBA) announced on Wednesday that Christine Chandler, the executive vice president, chief credit officer, and chief operating officer of M&T Realty Capital Corporation (RCC), has been nominated to serve as MBA’s vice chair for the 2024 membership year.

Commercial 339

Commercial Finance Lending Mortgages 339

Housing Wire

JULY 13, 2022

Forrester, chief financial officer at wholesale lender United Wholesale Mortgage (UWM), died Sunday, following a cancer diagnosis and monthslong illness. He also was a longtime member of the Mortgage Bankers Association (MBA) , serving on its finance committee, according to UWM. Desmond & Sons Funeral Home. July 21 at A.J.

Mortgages 352

Mortgages Finance Commercial As-is 352

Housing Wire

MAY 1, 2023

Recently, the director of the Federal Housing Finance Agency (FHFA) issued a statement clarifying the agency’s rationale for changes to loan level pricing adjustment (LLPA) fees going into effect on May 1. 80% LTVs (no mortgage insurance required) and 80.01-85% 85% LTVs (with mortgage insurance) by credit score.

Mortgages 403

Mortgages Commercial Development Loans 403

Housing Wire

MARCH 20, 2023

mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. It says the transaction adds new verticals, including middle market specialty finance, healthcare lending and SBA lending.

Banks 367

Banks Lending Commercial Loans 367

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. The investment in Thrive comes amid a wave of M&A activity in the mortgage lending space.

Mortgages 368

Mortgages Lending Banks Loans 368

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 billion in Q2 2023, a 77.2%

Mortgages 307

Mortgages Banks Loans Lending 307

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 362

Title Mortgages Commercial Technology 362