Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Their innovative solution supports our commitment to streamlining the lending process for our partners.”

Lending 347

Lending Mortgages Technology Banks 347

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 476

Residential Lending Banks Mortgages 476

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. As the 12th-largest mortgage lender , Planet Home Lending posted an origination volume of $25 billion in 2023, a 5.3% decline from 2022, according to Inside Mortgage Finance.

Lending 379

Lending Loans Renovation Mortgages 379

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 444

Equity Lending Banks Loans 444

Housing Wire

FEBRUARY 7, 2024

California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. It’s not just about offering non-QM loans; it’s about providing a foundation for brokers to confidently navigate this complex market,” Yoon said in a statement.

Lending 353

Lending Loans Mortgages Design 353

Housing Wire

DECEMBER 4, 2023

Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. is a software development company that offers a digital loan origination and POS system for the mortgage industry. in an $87 million deal in 2021.

Lending 424

Lending Mortgages Loans Technology 424

Housing Wire

FEBRUARY 2, 2023

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. Prior to his role at Apex Home Loans, Anzoleaga has held roles as a certified local facilitator at Buffini & Company, a senior vice president of residential lending at Draper and Kramer Mortgage Corp.

Lending 349

Lending Residential Loans Mortgages 349

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 369

Lending Loans Equity Mortgages 369

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 426

Lending Banks Mortgages Loan Officer 426

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. The word “trended” is the source of the “T” in the 10 T name.

Lending 361

Lending Mortgages Loans Banks 361

Housing Wire

FEBRUARY 13, 2024

Gregory Meola, managing director, head of business development & strategy, Acra Lending Rather than formulaic QM lending, non-QM lending can be more complex. Setting up systems to handle these complexities takes significant time and effort, but once completed, provide a tailored loan program for a borrower.

Lending 307

Lending Loans Technology Development 307

Housing Wire

DECEMBER 21, 2023

That’s the first predatory mortgage lending case brought by the DOJ. The lawsuit names the entities Colony Ridge Development LLC, Colony Ridge Land LLC, Colony Ridge BV and Loan Originator Services LLC. However, the loan offered had exorbitant interest rates, ranging from 10.9% between 2017 and 2021, per the lawsuit.

Lending 415

Lending Land Development Loans 415

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Equity 386

Equity Lending Banks Loans 386

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 377

Lending Banks Equity Technology 377

Housing Wire

SEPTEMBER 27, 2023

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed.

Lending 394

Lending Loan Officer Loans Technology 394

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. A VA loan is a mortgage partially backed by the U.S.

VA loan 439

VA loan Loans Mortgages Lending 439

Housing Wire

FEBRUARY 5, 2024

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. In a statement, Hecht expressed his enthusiasm about joining OneTrust Home Loans.

Loans 373

Loans Lending Construction Banks 373

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported.

Lending 368

Lending Finance Loans Mortgages 368

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 355

Lending Banks Loans Mortgages 355

Housing Wire

OCTOBER 10, 2023

Lenders using MeridianLink Consumer loan origination software (LOS) will be able to leverage Blend’s unified platform and consumer banking origination software for a fast onboarding and application process for banking, credit card and loan products, Blend said in a news release on Tuesday. million in Q1 and non-GAAP net loss of $45.1

Lending 351

Lending Banks Technology Loans 351

Housing Wire

JANUARY 23, 2024

Blue Sage: Digital Lending Platform Our Digital Lending Platform is a multi-channel, end-to-end digital mortgage solution that provides a superior experience for lenders and customers. Product Fast Facts #1 Robust flagship LOS and mobile apps for borrowers, loan officers, correspondents, and brokers.

Lending 288

Lending Loan Officer Loans Mortgages 288

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I It also brings a “reputational risk” when financing large amounts of loans originated from other firms.

Lending 512

Lending Finance Mortgages Banks 512

Housing Wire

JANUARY 23, 2023

Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. Tavant, an HW Tech100 winner for multiple years, helped underwrite more than 80,000 loans in 2021.

Lending 378

Lending Mortgages Technology Loans 378

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 501

Loans Debt-to-income ratio Lending Banks 501

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 371

Lending Industrial Mortgages Loans 371

Housing Wire

FEBRUARY 7, 2024

Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. In his new role, Hardiman will lead its lending and fulfillment operations. Hardiman first joined Embrace Home Loans in 2008 as a project manager, the news release stated.

Loans 373

Loans Lending Sales Mortgages 373

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. PennyMac Financial is the largest correspondent lender , with $65.9

Lending 369

Lending Banks Finance Loans 369

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

Lending 375

Lending Principal Finance Loans 375

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 328

Lending Technology Pre-approval Equity 328

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officer 369

Loan Officer Loans Finance Mortgages 369

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 408

Lending Mortgages VA loan Finance 408

Housing Wire

AUGUST 30, 2022

The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. billion in 2021, closing 9,991 loans. However, all loans must be closed by Sept. In total, wholesale comprises 35% of the total.

Lending 421

Lending Loans Mortgages Closing 421

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. branches and agencies of foreign banks.

Lending 348

Lending Banks Mortgages Loan Officer 348

Housing Wire

NOVEMBER 14, 2022

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We Nations Lending originated $3.43

Lending 332

Lending Mortgages Loan Officer Loans 332

Housing Wire

AUGUST 15, 2022

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. The post Wells Fargo to shutter correspondent lending?

Lending 370

Lending FHA loan Banks Finance 370

Housing Wire

SEPTEMBER 19, 2023

Alterra Home Loans , a Nevada headquartered retail lender and a Panorama Mortgage Group company, has promoted Fernando Ospina to president. He originated more than $46 million in loans in 2022, the company said. billion across 3,900 loans in 2022, data from mortgage data platform Modex showed. The company originated $1.23

Loans 412

Loans Lending Residential Mortgages 412

Housing Wire

JULY 6, 2022

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 485

Lending Mortgages Loans As-is 485