Housing Wire

MARCH 8, 2024

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. There will be bank failures, but not the big banks.”

Banks 491

Banks Commercial Lending Residential 491

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. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 407

Banks Lending Loans Finance 407

Housing Wire

APRIL 1, 2024

In exchange for providing homeowners a lump sum of cash, they receive a share of the home’s future value or future appreciation. “In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And The annual investment volume in the U.S.

Equity 452

Equity Finance Purchase and sale agreement Investor 452

Housing Wire

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Inside Mortgage Finance first reported news of the layoffs. U.S. Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates.

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options. The transaction is expected to close in May. “We

Lending 424

Lending Banks Loans Renovation 424

Housing Wire

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. Pennymac TPO is the country’s second largest third-party originator trailing United Wholesale Mortgage (UWM), per Inside Mortgage Finance estimates. market share in the TPO space.

Banks 424

Banks Mortgages Finance Sales 424

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. Roughly 24 hours after filing an objection to the U.S. The Government’s motion should accordingly be denied.”

Banks 394

Banks Bankruptcy Lending Finance 394

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. Inside Mortgage Finance (IMF) first reported on the topic. The bank had $1.7

Banks 341

Banks Lending Finance Investor 341

Housing Wire

APRIL 15, 2024

Mortgage experts added that struggling lenders — which laid off staff, received cash infusions and were overly enthusiastic about a market recovery after two years of shrinking originations — may be forced to find other options, such as mergers and acquisitions. Last week, the U.S. in March compared to a year earlier.

As-is 480

As-is Industrial Mortgages Loans 480

Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I A spokesperson for Flagstar Bank did not respond to a request for comments on Thursday.

Banks 476

Banks Mortgages Lending Finance 476

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 446

Banks Loan Officer Lending Loans 446

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 428

Banks Lending Loan Officer Loans 428

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 395

Banks Finance Commercial Technology 395

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% million. “The

Banks 445

Banks Mortgages Lending Commercial 445

Housing Wire

JANUARY 11, 2023

In its 3rd year, the HW Finance Leaders award is celebrating the industry’s top finance executives who have muscled through another unprecedented year in housing and helped their organizations come out on top. So what does it take to be among the HW Finance Leaders? Click here before the January 27th deadline!

Finance 409

Finance Banks Brokerage Closing 409

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 361

Finance Marketing Lending Loans 361

Housing Wire

DECEMBER 9, 2022

Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank , the company confirmed on Friday. . Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. Bank wrote in a statement to HousingWire.

Banks 382

Banks Lending Finance Mortgages 382

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 356

Banks Mortgages Commercial Lending 356

Housing Wire

APRIL 10, 2024

The FDIC supervises approximately 3,000 state-chartered banks and thrifts not members of the Federal Reserve System. However, the second part of the test revealed that these financial institutions did not develop enough compliance initiatives to determine whether the payments were reasonably related to the services’ value.

Banks 422

Banks Brokerage Mortgages Loans 422

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. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30. million.

Bankruptcy 369

Bankruptcy Banks Finance Lending 369

Housing Wire

FEBRUARY 8, 2024

To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved in the reverse mortgage business for the first time since the early 2010s. The whole idea is to just broaden distribution.

Banks 417

Banks Mortgages Technology Branding 417

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. was open for business.

Banks 362

Banks Mortgages Loans Loan Officer 362

BAM Media

MAY 9, 2024

Real estate transactions can be complex, especially when traditional financing isn’t the best option. This is where creative financing strategies like seller financing and subject to come into play. Seller Financing: The seller acts as the bank, creating a new financing agreement with the buyer.

Finance 99

Finance Banks Investor Loans 99

Housing Wire

DECEMBER 8, 2020

Bank and PNC Bank. Cooper – known as Nationstar until 2017 – will pay affected borrowers more than $40 million (that sum includes nearly $23 million in remediation to borrowers that were party to the separate Consumer Finance Protection Bureau lawsuit). Meanwhile, U.S. In all, Mr. Cooper, U.S. The post Mr. Cooper, U.S.

Banks 433

Banks Bankruptcy Finance Mortgages 433

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. Regions, a retail lender with a footprint of over 1,300 physical offices, has dipped into specialty finance sectors before. The space remains dominated by depository banks.

Banks 411

Banks Renovation Marketing Lending 411

Housing Wire

APRIL 18, 2023

Today, she interviews Yanely Espinal, the Education Outreach Director for NextGen Personal Finance. As a child from an immigrant family, financial literacy was not something that was discussed at home, and Yanely struggled with personal finance as she entered adulthood. I’m a daughter of immigrants. So I was in that program.

Finance 354

Finance Loans Branding Banks 354

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 468

Banks Mortgages Fixed-rate mortgage Equity 468

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. “In The ability for banks to provide credit to U.S.

Banks 443

Banks Commercial Loans Finance 443

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 468

Lending Banks Loan Officer Loans 468

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.

Banks 438

Banks Mortgages Loans Investor 438

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 362

Finance Equity Mortgages Principal 362

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. For The Roscoe State Bank, Piper Sandler & Co. It funded $5.1

Lending 346

Lending Banks Commercial Loan Officer 346

Housing Wire

JANUARY 11, 2022

Unlike other HousingWire awards, Finance Leaders focuses specifically on corporate finance, secondary marketing, capital markets or strategic finance executives within mortgage banking or a real estate brokerage only. The post Nominations for HousingWire’s Finance Leaders award are now open!

Finance 397

Finance Residential Title Mortgages 397

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Many community banks do a great job of mortgage lending to underserved homebuyers. So why would we extend it to IMBs?

Banks 355

Banks Lending Loans Mortgages 355

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. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 370

Finance Lending Mortgages Renovation 370

Housing Wire

APRIL 9, 2021

Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years. Student lending offers an entryway into consumer finance that non-bank originators have not had access to historically.

Lending 403

Lending Banks Loans Finance 403

Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

Banks 105

Banks Commercial Loans Technology 105