Housing Wire

APRIL 1, 2024

“What if homeowners could tap into home equity without taking on debt?” Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. Hometap is among a handful of companies — including Unison , Unlock , Point and Aspire — that offer home equity investments.

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Equity Finance Purchase and sale agreement Investor 370

Housing Wire

MARCH 26, 2024

Then, the housing market takes off like a rocket with home values exceeding all expectations. As the person relaxes on the couch watching television at night, they occasionally check the current value of their home and do a rough calculation of the amount of equity that they have accrued. It comforts them for a brief moment.

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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. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

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Equity Lending Banks Loans 357

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.

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Equity Marketing Fixed-rate mortgage Finance 356

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

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Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads.

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Equity Mortgages Banks Loans 347

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.

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Equity Loans Banks Title 373

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. The bank has presence in 15 states and Washington, D.C. The bank’s plan also includes $2.8

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Banks Lending Loans Finance 321

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

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Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. Learn about the tools lenders should leverage to streamline home equity title and closing. The loans are serviced by Rushmore Loan Management Services.”.

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Equity Investor Marketing Title 317

Housing Wire

SEPTEMBER 14, 2023

Real estate investment trust Redwood was founded in the early 1990s as the need for more private investors in the mortgage market grew. “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

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Equity Banks Investor Residential 311

Housing Wire

MARCH 14, 2023

March came in like a lion for the banking industry with a trio of bank failures , including the nation’s 16 th largest bank, Silicon Valley Bank (SVB), with assets of $212 billion. The other banks laid to rest in early March were crypto-friendly lenders Silvergate Capital Corp. ($11.4

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Banks Equity Mortgages Industrial 334

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.

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Equity Loans Lending Banks 377

Housing Wire

APRIL 27, 2021

A homebuyer report from Bank of America shows that 51% of young homebuyers aged 18 to 43 value community and friendly neighbors when deciding whether or not to pull the trigger on a new home. A homebuyer’s guide to a competitive housing market. A homebuyer’s guide to a competitive housing market. Presented by: Citi.

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Equity Banks Lending Renovation 455

Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

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Banks Lending Mortgages Equity 341

Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. Equity Unlocker is currently available in Florida, New York and Washington state.

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Equity Pre-approval Loans Finance 364

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 home equity loans balance was $24.7 The residential mortgage loan balance for First Internet was $383.9 million. “The

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Banks Mortgages Lending Commercial 381

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. .

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Equity Loans Banks Mortgages 370

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023. The bank had $1.7

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Banks Lending Finance Investor 290

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). The fate of the specialist when the market shifts The independent mortgage banks most of us think of when someone mentions IMBs originated as a result of the Savings and Loan Crisis of the 1980s.

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Banks Mortgages Loans Investor 354

Housing Wire

JANUARY 8, 2024

Recently, new technologies have reduced costs associated with purchasing a home and provided more opportunities for first-time homebuyers to enter the market. They frequently wield a disproportionate market presence and operate using pricing power and market leverage that force others in the space to join in or fail outright.

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Equity Lending Banks Technology 415

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. market share, according to Inside Mortgage Finance (IMF) estimates.

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Loans Mortgages Due diligence Banks 356

Housing Wire

JUNE 30, 2022

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. Daiwa Capital Markets America Inc., $1.4 Morgan Stanley & Co. LLC , $965,803. Sourcepoint Inc.,

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Bankruptcy Banks Finance Lending 350

Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner? Excellent turn times.

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Equity Title Technology Inspection 349

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

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Banks Loan Officer Loans Lending 336

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.

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Equity Loans Lending Residential 326

Housing Wire

APRIL 15, 2022

announced this week that it has committed $210 million to advance racial equity in homeownership in the United States, following a Bloomberg investigation that found the bank approved fewer than half of Black applicants for a home refinancing in 2020. The bank will assess its progress and disclose it annually.

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Equity Banks Lending Mortgages 366

Housing Wire

NOVEMBER 7, 2022

Despite increased competition, wholesale lender Homepoint has rolled out a new home equity line of credit (HELOC) product. The goal is to court more brokers at a time when home equity levels remain high. . A HELOC allows homeowners to access their equity without refinancing their primary mortgage. from the same period in 2021.

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Equity Lending Mortgages Banks 318

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

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Lending Banks Loan Officer Loans 429

Housing Wire

JULY 28, 2022

Even those with a considerable equity stake may find themselves in this dilemma. What can lenders do to help borrowers facilitate a sale, protect the equity in their home, and potentially remain in their home following the sale by negotiating a leaseback option? The borrower’s equity can be further eroded by legal and other fees.

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Equity Title Banks Title search 348

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 billion in mortgages in 2023.

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Mortgages Banks Marketing Commercial 353

Housing Wire

SEPTEMBER 7, 2022

Price corrections are coming to housing markets across the United States, Black Knight said following July’s home price decline from June. Relatedly, tappable home equity is expected to pull back in the third quarter as equity-rich markets already saw declines in July. . While July’s home price grew 14.5%

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Equity Marketing Lending Loans 416

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” The Fed’s past actions in the name of checking inflation also threaten to break — or may already have broken — other critical economic sectors, including the housing market.

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Banks Mortgages Fixed-rate mortgage Loans 358

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. Customer experience.

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Equity Lending Closing costs Mortgages 348

Housing Wire

NOVEMBER 13, 2023

. $700 billion in taxpayer funds were authorized to help stabilize the economy in free fall in the wake of the Lehman bankruptcy and a mortgage market meltdown. The original plan — to buy up troubled mortgage assets — was quickly abandoned in favor of actions like capital infusions for banks and the bailout of our auto companies.

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Banks Loans Bankruptcy Mortgages 310

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage.

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Banks Mortgages Loans Investor 363

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? By September, a full-fledged housing market recession had set in. The 2002 housing market has been a tale of two halves,” said Green. A mortgage rate lockdown freezes the housing market.

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Equity Marketing Loans Bankruptcy 490