Housing Wire

AUGUST 25, 2022

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. In the last five years alone, homeowners have gained, on average, $125,000 in equity on their properties.

Lending 393

Lending Equity Loans Technology 393

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 471

Residential Lending Banks Mortgages 471

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 471

Lending Banks Mortgages Loan Officer 471

Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived.

Equity 414

Equity Lending Closing costs Mortgages 414

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. A decline in MCAI, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase in the index suggests a loosening of credit. billion in 2022 from last year’s $4.4

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 433

Equity VA loan FHA loan Mortgages 433

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. Figure originated $900 million in loans and generated $2.7 JP Morgan Chase & Co. for the IPO.

Lending 424

Lending Banks Equity Technology 424

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. The funding timeline of five business days assumes closing the loan with Figure’s remote online notary, Figure said.

Lending 370

Lending Technology Pre-approval Equity 370

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 offering documents. billion.

Equity 414

Equity Purchase and sale agreement Marketing Lending 414

Housing Wire

SEPTEMBER 1, 2022

Rocket Pro TPO is diversifying its product portfolio by offering home equity loans to brokers by mid-September amid increased competition in the wholesale channel. The move follows Rocket Mortgage ‘s roll out of home equity loans in August as the firm tries to capitalize on Americans’ strong home equity positions. .

Equity 370

Equity Loans Banks Mortgages 370

Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

Lending 403

Lending Loans Equity Banks 403

Housing Wire

JULY 11, 2023

American homeowners currently have more tappable home equity than ever — a net $30 trillion in home equity that can be tapped right now, according to HousingWire lead analyst Logan Mohtashami. There’s more tappable equity here than any other time in history, maybe.” It’s an exciting time for home equity, for sure.”

Equity 370

Equity Lending Loans Mortgages 370

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 382

Equity Lending Loans Banks 382

Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

Loans 404

Loans Lending Equity Mortgages 404

Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

Equity 393

Equity Loans Banks Title 393

Housing Wire

JANUARY 11, 2022

Redfin announced Tuesday layoffs of 121 employees as it shakes up its mortgage department, including purchasing a lending company. The real estate company entered into an agreement to acquire mortgage lender Bay Equity Home Loans for $135 million, two-thirds in cash and one-third in stocks, Redfin said in a press release and public filing.

Equity 457

Equity Purchase and sale agreement Loan Officer Lending 457

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. A 40%-plus net share of all U.S.

Lending 370

Lending Banks Mortgages Loan Officer 370

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 382

Equity Loans Lending Banks 382

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 382

Equity Marketing Fixed-rate mortgage Finance 382

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands.

Lending 382

Lending Loan Officer Finance Loans 382

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 404

VA loan Loans Loan Officer FHA loan 404

Housing Wire

JUNE 13, 2023

Per the presentation, exiting the mortgage banker finance business smooths seasonality and cyclicality in the loan portfolio, improves capital efficiency and enhances the stability of the bank’s liquidity. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023.

Banks 370

Banks Lending Finance Investor 370

Housing Wire

MARCH 28, 2023

A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. The lawsuit also alleges that Wells Fargo originated high-cost loans to minorities at a rate of 2.3 The lawsuit was filed under the Fair Housing Act by three counties in Georgia.

Lending 382

Lending Loans Banks Mortgages 382

Housing Wire

JUNE 26, 2023

Digital mortgage exchange and loan aggregator MAXEX announced on Monday it closed an equity investment round and partnerships to expand liquidity amid the recent market volatility. ” The deal with MAXEX expands access to a broad range of non-agency and agency-eligible mortgage loan programs.

Equity 370

Equity Land Investor Loans 370

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.”.

Lending 414

Lending Mortgages Marketing Loans 414

Housing Wire

MAY 1, 2023

These loans, which are often used to finance environmentally-minded renovations, like the addition of solar panels, have led to financial instability for some borrowers. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 381

Loans Lending Finance Renovation 381

Housing Wire

AUGUST 3, 2022

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Black Knight calculates homeowner equity levels by leveraging loan-level mortgage performance data and its home price index.

Equity 370

Equity Loans Lending Residential 370

Housing Wire

AUGUST 17, 2022

Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc., EagleBank , one of the largest community banks in metro Washington, D.C.,

Lending 382

Lending Banks Loans Investor 382

Housing Wire

AUGUST 10, 2022

Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business. “As Midwest Equity Mortgage was the first company incorporated in 2018. The company did not provide additional details.

Loans 370

Loans Lending Branding Equity 370

Housing Wire

MARCH 11, 2022

Current buzzwords in the mortgage industry include affordable, underserved, accessible and equity. With the increasing regulatory focus on expanding affordable lending programs, mortgage lenders need to have a plan to serve the underserved. Finding the ‘why’. Where the rubber meets the roadblock.

Lending 382

Lending Loans Mortgages Industrial 382

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. It funded $4.2

Lending 433

Lending Banks Loan Officer Loans 433

Housing Wire

JUNE 29, 2022

Boston fintech firm Knox Financial plans to expand its lending business and loan products with $50 million in funding it received from a real estate advisory firm. The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings.

Loans 370

Loans Equity Lending Mortgages 370

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 404

Lending Finance Banks Equity 404

Housing Wire

APRIL 23, 2024

Cooper Group named former Wells Fargo Home Lending executive Ranjit Bhattacharjee and former Piper Sandler analyst Kevin Barker to its leadership team on Tuesday. He will be responsible for oversight of capital markets and correspondent lending , reporting directly to chairman and CEO Jay Bray.

Lending 413

Lending Finance Equity Mortgages 413

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. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Loans 543

Loans Banks Equity Closing costs 543

Housing Wire

NOVEMBER 7, 2022

High mortgage rates and looming economic uncertainty caused trillions in equity to evaporate from the housing market in the third quarter of 2022, according to Black Knight ’s mortgage monitor report. Equity among mortgaged homes dropped by about $1.5 While these loans deserve careful, ongoing monitoring, just 3.6%

Equity 370

Equity Marketing Lending Mortgages 370