Housing Wire

SEPTEMBER 16, 2022

Another single-family rental (SFR) securitization deal sponsored by a large institutional player, Progress Residential , is slated to hit the private-label market this month, bringing the total securitization-deal count for Progress to seven so far this year. billion; FirstKey Homes , $10 billion; Amherst Residential , $6.3

Residential 372

Residential Loans Principal Mortgages 372

Housing Wire

OCTOBER 11, 2021

New Residential Investment Corp. New Residential said that it expects Genesis to originate close to $2 billion of loans in 2021 and that the fix-and-flip lender has originated over 12,000 loans since 2014. The post New Residential scoops up fix-and-flip lender appeared first on HousingWire.

Residential 323

Residential Finance Loans Lending 323

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. Academy Mortgage Corporation. Plaza Home Mortgage. Company Name.

Finance 392

Finance Lending Title Mortgages 392

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 462

Mortgages VA loan Finance Loans 462

Housing Wire

FEBRUARY 13, 2024

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. Academy has originated $5 billion in mortgage loans over the last 12 months ended in January, per mortgage tech platform Modex.

Mortgages 421

Mortgages Loan Officer Loans Finance 421

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.

Finance 367

Finance Lending Mortgages Renovation 367

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.

Mortgages 320

Mortgages Loan Officer Residential Loans 320

Housing Wire

JULY 18, 2023

mortgage lender, is laying off staffers in its mortgage division this week, a spokesperson confirmed on Tuesday. The announcement follows a decline in its mortgage originations in the first quarter of 2023 – the second-quarter earnings will be released on Wednesday morning. Minneapolis-based U.S. Bank , the fourth-largest U.S.

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

JUNE 21, 2022

New Residential Investment Corp. The company is also changing its name to Rithm Capital, reflecting the diversification of its businesses as more than just a mortgage real estate investment trust. New Residential will start trading on the NYSE as “RITM” on or about August 1, 2022. appeared first on HousingWire.

Residential 330

Residential Investor Loans Finance 330

Housing Wire

JANUARY 19, 2024

Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. Job cuts include the leadership – the president and CEO, the finance manager and the credit risk officer. More than 50 mortgage loan officers were let go.

Mortgages 373

Mortgages FHA loan Loan Officer Loans 373

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 375

Mortgages Banks Equity Commercial 375

Housing Wire

DECEMBER 4, 2020

The Mortgage Bankers Association (MBA) announced the new members of its 2021 Residential Board of Governors and the Chairs of the Residential Committee. Other members who were added include Willie Newman of Home Point Financial , Matt Rocco of Grandbridge Real Estate Capital, and Jack Thompson of Legacy Mortgage.

Residential 287

Residential Finance Lending Mortgages 287

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 389

Mortgages Loan Officer Loans Closing 389

Housing Wire

APRIL 10, 2024

Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022. Residential mortgage originators are responsible for filing data with the CFPB under the Home Mortgage Disclosure Act.

Mortgages 358

Mortgages Residential Commercial Loans 358

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

MAY 21, 2024

Shuler has also served in CIO leadership roles at GMAC Mortgage/GMAC ResCap , National City Mortgage and Homeward Residential. Planet Home Lending is an originator, correspondent lender , servicer and subservicer of agency and nonagency residential and commercial mortgages.

Lending 313

Lending Technology Residential Commercial 313

Housing Wire

FEBRUARY 7, 2024

According to a Bloomberg report, the bank has already started to offer its mortgage assets to investors in order to transfer the portfolio risks. Bloomberg, citing anonymous sources, reported that NYCB has contacted investors to finance a large portfolio of residential mortgages held by Flagstar Bank. It also had $84.3

Mortgages 348

Mortgages Banks Marketing Commercial 348

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. Government residential mortgage was an exception, where standards remained basically unchanged. The survey showed that 30.4%

Lending 392

Lending Banks Mortgages Loan Officer 392

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. compared to the same period in 2021.

Mortgages 376

Mortgages Banks Lending Residential 376

Housing Wire

NOVEMBER 2, 2021

Powerhouse lender/servicer New Residential Investment Corp. According to NRIC’s third quarter earnings released on Tuesday, the growth was spurred mainly by the REITs acquisition of mortgage lender Caliber Home Loans in August. The post New Residential already seeing the benefits of Caliber deal appeared first on HousingWire.

Residential 304

Residential Loans Mortgages Sales 304

Housing Wire

JANUARY 31, 2024

Mortgage demand slumped last week as consumers hit the brakes on purchase applications. Mortgage applications decreased by 7.2% 26 compared to one week earlier on a seasonally adjusted basis, according to the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. in the week ending Jan.

Mortgages 363

Mortgages Fixed-rate mortgage Loans Residential 363

Housing Wire

AUGUST 11, 2022

a real estate investment trust (REIT) based in Mill Valley California that has residential operations focused on nonagency jumbo loans, recently reported a second-quarter 2022 net loss of $100 million, after recording a net gain of $31 million in the prior quarter. Likewise, Atlanta-based A ngel Oak Mortgage Inc. , The Angel Oak Cos.

Mortgages 371

Mortgages Loans Residential Lending 371

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgages 350

Mortgages Loans Residential Equity 350

Housing Wire

NOVEMBER 10, 2022

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . The deal adds $2 billion in annual volume, 250 mortgage professionals and 31 branch offices to Movement’s book of businesses. . Mortgage Network funded $2.5

Mortgages 370

Mortgages Loan Officer Loans Residential 370

Housing Wire

OCTOBER 31, 2022

Movement Mortgage on Friday announced the appointment of Lyra Waggoner as its chief information officer. Waggoner’s professional career spans 18 years in the mortgage industry. The key to growing in a challenging mortgage market. Her role will focus on technology to drive the company’s growth. Presented by: Polly.

Loan Officer 336

Loan Officer Mortgages Loans Technology 336

Housing Wire

JUNE 21, 2022

The stock market has not been kind to mortgage lenders – some are now trading in the $1-a-share range. In a one-week period between June 10 and June 17, 11 publicly traded mortgage companies lost a collective $6.14 Investors are fleeing from mortgage companies that are struggling to generate cash – meaning those not delivering profits.

Mortgages 378

Mortgages Residential Investor Finance 378

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. The decision will not impact the commercial mortgage business. Inside Mortgage Finance reported that Santander residential production totaled $2.7

Banks 433

Banks Mortgages Fixed-rate mortgage Equity 433

Housing Wire

MAY 17, 2023

At that margin, ATTOM notes, the cost of renovations, property taxes, mortgage interest and other expenses — which in total consume 20% to 33% of the resale value — could easily cancel out any return on investment for the flipper. The big thing is the carrying cost that a lot of [smaller] investors don’t realize. “If

Finance 342

Finance Marketing Lending Investor 342

Housing Wire

NOVEMBER 15, 2023

Detroit-headquartered lender Rocket Mortgage faces a class-action lawsuit for making repeated, unsolicited telephone calls, violating the Telephone Consumer Protection Act (TCPA). To date, not one single TCPA class has been certified against Rocket Mortgage. According to the suit filed in the U.S.

Mortgages 417

Mortgages Residential Industrial As-is 417

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. That’s 20 basis points higher than the international standard.

Mortgages 311

Mortgages Banks Marketing Residential 311

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.

Mortgages 358

Mortgages Banks Equity Residential 358

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

Mortgages 320

Mortgages Lending Banks Commercial 320

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

Banks 377

Banks Mortgages Lending Commercial 377

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

Mortgages 397

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 397

Housing Wire

JULY 27, 2023

If implemented, the changes will affect the mortgage industry–and trade groups are already coming out in opposition to the new regulation. ” The changes would boost capital requirements for large banks’ residential mortgage portfolios compared to international standards.

Banks 337

Banks Lending Mortgages Equity 337

Housing Wire

JANUARY 17, 2024

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. Overall, mortgage applications rose by 10.4% Overall, mortgage applications rose by 10.4% in the week ending Jan. ”

Mortgages 399

Mortgages Fixed-rate mortgage Loans Residential 399

Housing Wire

MARCH 16, 2022

Angel Oak Mortgage Inc. , a real estate investment trust focused on investing in nonqualified mortgages, announced that it recorded net income of $21.1 a long-term player in the non-QM mortgage market. AOMR’s affiliated mortgage companies are expected to originate more than $7.5 million and $16.6 million, respectively.

Mortgages 355

Mortgages Residential Loans Finance 355