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.” It is often said that the Fed raises interest rates until something breaks. In 2021, mortgage originations hit a record high of $4.4 trillion, and will fall to $1.87

Banks 397

Banks Mortgages Fixed-rate mortgage Loans 397

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 368

Banks Debt-to-income ratio Lending Loans 368

Housing Wire

JANUARY 14, 2025

If you live in one those states, leveling up your career might mean studying to become a Managing Broker or Principal Broker. Open bank and trust accounts Next, you’ll need to set up all the necessary business banking accounts and Trust accounts. Once you have completed your education, you can move on to the testing.

Brokerage 366

Brokerage Branding Agents Industrial 366

Housing Wire

APRIL 28, 2025

billion in unpaid principal balance (UPB), up 2% from the end of 2024 and 10% higher compared to March 2024. “They’ve been able to compete with banks and credit unions, and so that’s been a big win for us. While profits shrank, PennyMacs servicing portfolio simultaneously grew to $680.2

Marketing 361

Marketing Principal Loans Mortgages 361

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 410

Banks Mortgages Loan Officer Due diligence 410

Housing Wire

NOVEMBER 15, 2024

A shift in Rocket Mortgage’s MSR strategy Through the third quarter, Rocket has already acquired or committed to over $70 billion in unpaid principal balance for its servicing portfolio —a 15% increase over year-end 2023. “Our scalable tech platform is what empowers us to navigate dynamic markets with agility.

Mortgages 367

Mortgages Equity Loans Principal 367

Housing Wire

JANUARY 4, 2024

If passed, House Bill 809 and its companion Senate Bill 1070 would bar insurance carriers from placing a coverage limit on a home that would include the value of the land the house sits on, and it would require insurance companies to offer policies that cover only the unpaid principal on a mortgage.

Principal 522

Principal Mortgages Land Loans 522

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

JUNE 15, 2023

Inflation has been moderating but it’s still well above the Fed’s comfort level – increasing the likelihood of the central bank going ahead with further rate hikes. The Fed’s updated economic projections showed that central bankers forecast that inflation could finish 2023 at 3.2% The industry wants a complete stop.

As-is 384

As-is Industrial Fixed-rate mortgage Mortgages 384

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 449

Investor Mortgages Banks Principal 449

Housing Wire

JULY 8, 2024

The bank entered into an agreement to buy $1.8 More recently, regional banks have been looking to shed assets ahead of the Basel III Endgame regulations. As with many other regional banks, PacWest had billions of dollars worth of unrealized losses in its bond portfolio and uninsured deposits that were at risk of being pulled.

Loans 406

Loans Principal Banks Residential 406

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 504

Banks Lending Loans Principal 504

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 397

Bankruptcy Banks Pre-approval Principal 397

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. The product line, known as SecureEquity, is available to homeowners as young as age 55.

Mortgages 237

Mortgages Principal Equity Loans 237

Housing Wire

OCTOBER 18, 2024

HOME EQUITY CONVERSION MORTGAGE (HECM): The HECM allows homeowners age 62+ the ability to leverage a portion of their home’s value without a required monthly principal and interest mortgage payment.* HOME EQUITY LINE OF CREDIT (HELOC): The HELOC has no age requirement and is offered through lenders and local banks.

Mortgages 418

Mortgages Principal Equity Loans 418

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 430

Sales Banks Principal Loans 430

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually. The senior notes are due on Aug.

Principal 458

Principal Banks Investor Mortgages 458

Housing Wire

MAY 19, 2025

Independent Mortgage Banks (IMBs) dominate the origination sector, accounting for over 80% of all new mortgages. The IMB or bank will aggregate a portfolio for several months and then sell their mortgage servicing rights to an MSR REIT, and the cash flows exchange hands again. That is a significant mismatch.

Mortgages 214

Mortgages Investor Loans Banks 214

Housing Wire

MAY 19, 2023

The company’s unpaid principal balance reached $524.8 Between the acquisition of First Republic Bank and the purchase of Rocket’s MSRs, JPMorgan Chase has acquired approximately $126 billion worth of MSRs in the last two months. The spokesperson did not provide additional details on loan type or characteristics.

Principal 109

Principal Loans Mortgages Banks 109

Housing Wire

OCTOBER 22, 2020

According to Fed data, the central bank has bought over $1 trillion in bonds backed by home loans since then. And that’s the rationale for this change, as the GSEs are shouldering significant risks associated with the pandemic — as the principal risk taker, we have to price that risk appropriately.” The average U.S.

Mortgages 537

Mortgages Principal Loans Banks 537

Housing Wire

AUGUST 4, 2022

The loan must be secured by a principal residence. For banks, there is a potential incentive for making targeted programs. That’s despite a February report by the Urban Institute which found that nonbanks made a greater share of their owner-occupant home purchase mortgage loans to borrowers of color than banks.

Loans 496

Loans Principal Banks Closing costs 496

Housing Wire

MARCH 6, 2024

In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3

Equity 394

Equity Mortgages Banks Commercial 394

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5

Bankruptcy 408

Bankruptcy Banks Principal Investor 408

Housing Wire

JULY 12, 2024

The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year. The bank had $189 million from servicing revenues in Q2 2024, compared to $144 million in the previous quarter. JPMorgan was followed by Wells Fargo, which exited the correspondent channel last year. It reached $5.3 billion in Q1 2024 and $8.2

Mortgages 423

Mortgages Lending Banks Principal 423

Housing Wire

JULY 18, 2024

Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% The analysis incorporates principal amortization and a prepayment assumption in projecting outstanding vintage balances.

Principal 435

Principal Mortgages Banks Loans 435

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. Well’s MSR portfolio was shrinking even as the MSR market continues to expand, however.

Marketing 406

Marketing Principal Banks Loans 406

Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. billion of single-family residential loans at a discount, according to the outlet.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 420

Commercial Brokerage Due diligence Title 420

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. . About half of its loans were originated in California.

Sales 425

Sales Mortgages Principal Equity 425

Housing Wire

OCTOBER 9, 2024

Before joining Mr. Cooper, Graham held leadership positions at the Royal Bank of Canada and Standard Charter Bank. Cooper reached more than $1 trillion in unpaid principal balance (UPB) in its servicing portfolio this year. Mr. Cooper also hired Jeff Carroll from travel technology company Sabre Corp. I can give you an example.

Technology 381

Technology Banks Principal Industrial 381

Housing Wire

APRIL 21, 2022

According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter. Before joining Mr. Cooper, he held executive positions at First Horizon National Corporation and Capital Bank. Cooper Group Inc.,

Banks 397

Banks Principal Finance Development 397

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible. So, for me, the HECM is the go-to product.

Mortgages 408

Mortgages Banks Land Equity 408

Housing Wire

FEBRUARY 28, 2022

If a Ginnie Mae borrower defaults, a servicer still has to make full principal and interest payments, until the loan re-performs or is taken out of the pool, whereas GSE servicers are typically obligated to remit only what the borrower paid. Defaults are more expensive for Ginnie Mae servicers. basis points.

Principal 396

Principal Loans Industrial Banks 396

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed rates would be slashed to a median 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels.

Banks 466

Banks Mortgages Principal Investor 466

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 421

Principal Loans Banks Mortgages 421

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6 a week earlier.

Principal 370

Principal Fixed-rate mortgage Residential Loans 370

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 Morgan Chase Bank , 6.5%; Rocket Mortgage , 6.4%; and Wells Fargo , 4.7%. billion so far in 2022.

Principal 421

Principal Loans Residential Investor 421