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. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Banks 385

Banks Mortgages Lending Commercial 385

Housing Wire

MARCH 16, 2023

banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” Secretary of the Treasury Janet L. Bank will contribute $1 billion each.

Banks 398

Banks Loans Closing Sales 398

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 425

As-is Industrial Mortgages Loans 425

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 359

Banks Finance Commercial Technology 359

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 338

Sales Banks Principal Loans 338

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 371

Banks Marketing Mortgages As-is 371

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 331

Banks Mortgages Loans Loan Officer 331

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Banks 293

Banks Commercial Mortgages Brokerage 293

Housing Wire

FEBRUARY 8, 2024

E-signature company DocuSign laid off 6% of its workforce, or about 400 employees, following reports that the fintech company’s talks in exploring a sale have stalled. A majority of the impacted positions came from the company’s sales and marketing organizations, the company said. and Bank of America Corp.

Sales 382

Sales Banks Technology Investor 382

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. So, the new role is going from the product management side to the sales side of the business. The whole idea is to just broaden distribution.

Banks 343

Banks Mortgages Technology Branding 343

Housing Wire

APRIL 24, 2023

Housing demand and home prices have proved to be more resilient than expected in the first quarter of the year, but home sales will remain subdued largely due to the rate lock-in effect , according to Fannie Mae ‘s forecast. Still, Fannie Mae expects new home sales to hold up comparatively well relative to existing homes.

Sales 356

Sales Banks Construction Lending 356

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. Law360 and National Mortgage News first reported on AmeriFirst’s motion seeking approval of loan sales. million to Centier Bank.

Loans 375

Loans Bankruptcy Sales Commercial 375

Housing Wire

FEBRUARY 13, 2024

FirstFunding appointed Matt Coles to the position of national sales manager, the company announced on Tuesday. In his new role, Coles will lead the company’s sales strategy and operations. It provides warehouse funding to correspondent lenders , community banks , credit unions and secondary market investors.

Sales 283

Sales Banks Investor Mortgages 283

Housing Wire

OCTOBER 28, 2022

Pending home sales continued their downward spiral in September, recording a 10.2% Pending home sales have now fallen in 10 of the last 11 months. Economists predicted that pending home sales would drop by 4.0% Economists predicted that pending home sales would drop by 4.0% in September. in September. All four major U.S.

Sales 510

Sales Banks Mortgages Loans 510

Housing Wire

JULY 18, 2022

Depositary lender Bank of America ‘s top executives said Monday their customers haven’t slowed down their activities, despite a fear of a recession in the U.S. Bank of America posted a $2.88 billion profit in its consumer banking division in the second quarter, down from a $2.97 billion profit in the first quarter.

Banks 331

Banks Mortgages Equity Residential 331

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 340

Banks Loan Officer Loans Commercial 340

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. TIAA Bank has laid off more than 200 workers over the past six months as it pivots away from mortgage servicing. It’s the second big correspondent business sale in recent months. billion in cash.

Banks 364

Banks Lending Loans Mortgages 364

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 361

Banks Mortgages Loan Officer Lending 361

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. The EnerBank team, led by Charlie Knadler, will join Regions as part of its consumer banking group reporting to Peters. The space remains dominated by depository banks.

Banks 329

Banks Renovation Marketing Lending 329

Housing Wire

DECEMBER 23, 2022

New home sales, to the surprise of many, rose by 5.8% New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% in November. in November.

Sales 351

Sales MLS Mortgages Banks 351

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 outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 387

Banks Mortgages Loans Equity 387

Housing Wire

JUNE 15, 2023

For instance, the retail sales report and jobless claims this week will be an indication as to which direction the bond market and mortgage rates will move, Cohn noted. “If The Fed’s updated economic projections showed that central bankers forecast that inflation could finish 2023 at 3.2% by the year-end, a drop from the projected 4.5%

As-is 335

As-is Industrial Fixed-rate mortgage Mortgages 335

Housing Wire

APRIL 27, 2022

First Community Mortgage ‘s wholesale division named a new regional sales manager in hopes to continue growth for the firm’s mortgage boutique division. Headed by Dan Smith , FCM is a wholly-owned subsidiary of First Community Bank of Tennessee and includes wholesale, correspondent, and retail divisions.

Sales 309

Sales Mortgages Banks Lending 309

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. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

Loans 360

Loans Mortgages Due diligence Banks 360

Housing Wire

OCTOBER 28, 2021

After rising 8% in August, pending home sales dropped 2.3% in September, according to the National Association of Realtor’s pending home sales index report released on Thursday. While market activity is lower than a year ago, the pending home sales index is still up 7% than September 2019. The index dropped to 116.7

Sales 411

Sales Renovation Banks Marketing 411

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. With 35 years of experience in the mortgage business, Flagstar has reputation for successfully navigating the ebb and flow of an ever-changing housing market. Our platform is scalable, and we allow brokers to work with us the way that they choose.

Lending 310

Lending Banks Technology New Construction 310

Housing Wire

FEBRUARY 2, 2023

The silver lining for the business was the strong sales in its Encompass loan origination software system in the fourth quarter, executives said in its latest earnings call on Thursday. We had a very strong quarter in Encompass sales,” Ben Jackson, president and chair of ICE Mortgage Technology, said in its fourth quarter earnings call. “In

Technology 342

Technology Sales Mortgages Lending 342

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 339

Sales Mortgages Principal Equity 339

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. In his role as national sales director at Movement, Yeager will focus on the company’s growing sales team. and is licensed in 50 states.

Sales 316

Sales Loan Officer Lending Residential 316

Toronto Realty Blog

JANUARY 22, 2024

” was a much better hook… Back in October, I wrote the following: October 10th, 2023: “So You Want To Purchase A Power Of Sale, Do You?” Today, I want to look at how bank-owned properties are priced, listed, and sold, and I want to use real examples. ” I can’t really get into specifics here.

Banks 71

Banks Sales Marketing MLS 71

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Terms of the sale were not disclosed. million; pool 2, 2,217 loans valued at $338.9

Sales 390

Sales Principal Loans Banks 390

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I

Sales 350

Sales Lending Principal Banks 350

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 315

Sales Mortgages Loans Loan Officer 315

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. The post Flagstar Bank to back trio of mortgage-tech startups appeared first on HousingWire. Presented by: Total Expert.

Banks 272

Banks Mortgages Lending Technology 272

Better Dwelling

JANUARY 20, 2022

Canada’s central bank is preparing to raise rates, and everyone is trying to guess what this means. If the Bank of Canada (BoC) hikes as expected, BC home sales will see a modest decline. Home sales are […]. The BC Real Estate Association (BCREA) is the latest to forecast the impact of a rising overnight rate.

Banks 143

Banks Sales As-is 143

Housing Wire

FEBRUARY 5, 2021

Closing out this week’s people mover announcements, Western Alliance Bank named Jim Karr as national sales manager for its correspondent mortgage solutions team, which is part of the bank’s Specialized Mortgage Services group. Thompson led the company through its most successful year ever, funding over $2.5

Banks 241

Banks Mortgages Lending Investor 241

Marco Santarelli

MARCH 19, 2023

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure due to rising interest rates and a high proportion of uninsured deposits. The report titled ‘Monetary Tightening and US Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?'

Banks 145

Banks Title Equity Industrial 145