Old National Bank sued for alleged redlining practices

Housing Wire

The largest depository bank in Indiana, Old National Bank , is being sued for alleged redlining practices that spanned more than a decade. The post Old National Bank sued for alleged redlining practices appeared first on HousingWire.

Banks 337

Flagstar is banking on the private-label market

Housing Wire

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. The post Flagstar is banking on the private-label market appeared first on HousingWire. Alessandro P.

Banks 361
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Cornerstone Home Lending to acquire Roscoe State Bank

Housing Wire

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The name Roscoe State Bank will be kept at the Bastrop , Texas locations.

Rocket Mortgage aims to expedite mortgage services to local banks and credit unions

Housing Wire

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.

Banks 320

Bank survey: Regulatory worries reach three-year high

Housing Wire

Banks are increasingly looking over their shoulders as they cope with regulatory changes, worry about fines and manage business risk, according to a survey by Wolters Kluwer Compliance Solutions. 14 survey, collected responses from 391 mortgage companies, banks and credit unions from Aug.

Banks 286

Mr. Cooper, U.S. Bank and PNC Bank settle DOJ servicing case

Housing Wire

Bank and PNC Bank. Bank is on the hook for $29 million in credits and refunds, according to the settlement. The bank also waived approximately $43 million in fees across its mortgage servicing portfolio, including for borrowers in bankruptcy.

Banks 333

PNC Bank breached COVID-19 payment deferral agreement: suit

Housing Wire

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments.

Banks 298

How did Wells Fargo and Bank of America’s mortgage businesses perform in the third quarter?

Housing Wire

The bank originated $62 billion in home loans during the third quarter, up 5% from $59 billion in the prior quarter. Such a move suggests the banking giant is comfortable with its balance sheet and that mortgage defaults would be stable in the upcoming quarter.

Banks 378

Two Southern banks complete mortgage eNote transfer

Housing Wire

Going forward, FHLBank Atlanta will accept all eNotes, per bank officials. Officials said 11 federal home loan banks set servicing system requirements relating to eSignatures and eNote documentation in early 2020 – the culmination of three years of development.

Banks 229

Florida community bank launches mortgage arm

Housing Wire

Amerant Bank , one of the largest community banks in Florida, announced that it is venturing into the mortgage industry with the formation of Amerant Mortgage. The bank will retain the majority ownership of the JV. Mortgage Amerant Bank Amerant Mortgage Florida launch

Banks 269

TIAA Bank to sell its correspondent biz to PenFed

Housing Wire

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.

Banks 306

Regions Bank places $1B bet on home renovation market

Housing Wire

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.

U.S. Bank’s Fred Bolstad to speak at Spring Summit

Housing Wire

Bank Home Mortgage , will speak on a panel titled What Mortgage Tech is Solving Now at HousingWire’s Spring Summit on March 4. Bank Home Mortgage, Bolstad is responsible for over 4,000 employees, including nearly 1,400 mortgage loan officers. Bank Home Mortgage

Banks 329

Cadence Bank reaches settlement with DOJ over redlining

Housing Wire

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 The bank, based in Texas, also has branches in Alabama, Florida, Georgia and Tennessee.

Banks 329

Bank of Canada Will Raise Rates 500% This Year, To Start Within Weeks: National Bank

Better Dwelling

Canada’s central bank is about to take away the punch bowl real estate has been binging on for the past few years. The National Bank of Canada (National Bank) has forecast interest rates will rise over the next few weeks to combat inflation.

Banks 101

Flagstar Bank to back trio of mortgage-tech startups

Housing Wire

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.

Banks 267

How student lending can benefit non-bank lenders

Housing Wire

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.

People movers: InterLinc Mortgage Services, Invictus Capital Partners, Western Alliance Bank

Housing Wire

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.

Banks 223

People movers: Gateway First Bank, Promontory MortgagePath and Mortgage Solutions Financial

Housing Wire

Gateway First Bank officially named Scott Gesell CEO and general counsel after serving as CEO on an interim basis since April 3. The post People movers: Gateway First Bank, Promontory MortgagePath and Mortgage Solutions Financial appeared first on HousingWire.

Banks 230

Four Canadian Banks Urge The BoC To Raise Rates, Another Is Warning Home Buyers

Better Dwelling

The kings of Bay Street aren’t happy with Canada’s central bank, and they’re no longer holding back criticism. Four of the “Big Six” banks have recently urged the Bank of Canada (BoC) to raise the overnight rate. Another bank hasn’t urged action, yet.

Banks 112

US Bank Mortgage Review for 2020

The Mortgage Report

Review of US Bank Mortgage showing how the company compares to other top lenders for mortgage rates, service, complaints, and loan products.

Banks 69

A Big Bank Sent Traders A Christmas Poem About The Bank of Canada’s Inaction

Better Dwelling

One of Canada’s biggest banks actually sent traders a Christmas poem about the Bank of Canada (BoC) governor’s management. It turns out it’s actually a tradition at the National Bank of Canada (NBC), who really should be teaching a Masterclass on throwing shade.

Banks 69

The Bank of Canada Will Raise Rates In Two Weeks, End Year 500% Higher: JP Morgan

Better Dwelling

America’s largest bank is making a bold call for Canada’s central bank — it will raise rates within days. JPM sees the Bank of Canada (BoC) hiking the overnight rate five times in 2022, sending it 500% higher.

Banks 99

Bank of Canada Quietly Updates Real Estate Affordability Data To The Worst In 13 Years

Better Dwelling

Canada’s central bank quietly updated its real estate affordability index. Maintained by the Bank of Canada (BOC), the HAI shows the share of income required to service a mortgage on a home. Canada Bank of Canada Canadian Interest Rates Canadian Mortgages Canadian Real Estate Prices

Banks 98

STANDARD CHARTERED BANK

Rent, Buy & Sell

INTRODUCTION: Standard Chartered is an international banking and finance company operating a network of >1,200 outlets and branches including associates, joint ventures, and subsidiaries across >70 countries. The bank began to issue the Hong Kong dollar banknotes in 1862.

Banks 52

If Canada Skips The Rate Hike It’s Due To Ukraine, Not The Economy: National Bank

Better Dwelling

National Bank of Canada (NBF) points to this morning’s employment revision. In the bank’s opinion, this further strengthens the reason for the Bank of […].

Banks 53

Better.com’s Vishal Garg talks the future of banking, tech stacks and a customer-friendly IPO

Housing Wire

” The one-on-one conversation with Azevedo touched upon the structure of Better’s strategic partnerships , the future of retail banking , how COVID-19 has changed the fundamentals of business, and the proper integration of a tech stack.

Banks 290

A Large Canadian Bank Just Blamed The Bank of Canada For The Property Bubble

Better Dwelling

One of Canada’s largest banks made an unusual move — they called out the role the Bank of Canada (BoC) played in the property bubble. The post A Large Canadian Bank Just Blamed The Bank of Canada For The Property Bubble appeared first on Better Dwelling.

Banks 112

Flagstar to pay $3.6M over flood insurance violations

Housing Wire

The Office of the Comptroller of the Currency (OCC) issued a consent order against Michigan-based Flagstar Bank that levies a $3.62 It also said that the bank had an inadequate third-party risk management program for its loan servicing.

Banks 243

Canadian Mortgage Quality Has “Deteriorated”: Bank of Canada

Better Dwelling

The Bank of Canada (BoC) warned mortgage quality has “deteriorated” in 2020. The central bank found highly indebted households, those with a loan-to-income ratio higher than 450%, now represent a record share of new mortgage debt.

Banks 113

National Bank of Canada Calls 2022 “The Year of The Hike,” Sees Rates 6x Higher

Better Dwelling

One of Canada’s “Big Six” banks is declaring next year to be “The Year of The Hike.” ” National Bank of Canada (NBC) chief strategist (and poet-in-residence) Warren Lovely is calling the first interest rate hike in just a few months.

Banks 99

Bank of America helps income-restricted homebuyers with $5B program

The American Genius for Real Estate

(HOMEOWNERSHIP) Bank of America is offering assistance to low to moderate-income homebuyers by reducing their mortgage and upfront home-buying costs. The post Bank of America helps income-restricted homebuyers with $5B program appeared first on The American Genius Real Estate.

Banks 56

The Bank of Canada Will Raise Interest Rates Early, Can Hit 11x The Current Rate: BMO

Better Dwelling

Canada’s oldest bank is accelerating its forecast schedule for the central bank. BMO sees the first interest rate hike in April, after yesterday’s announcement from the Bank of Canada (BoC). Canada Bank of Canada BMO Canadian Interest Rates Canadian Mortgages

Banks 93

The Bank of Canada Is Unlikely To Hike Rates Until March, Despite Soaring Yields: BMO

Better Dwelling

Canadian bond yields are soaring, but the central bank isn’t expected to raise rates. The post The Bank of Canada Is Unlikely To Hike Rates Until March, Despite Soaring Yields: BMO appeared first on Better Dwelling.

Banks 87

Bank of Canada Policy Is “Too Loose,” Rate Hikes Will Reduce Real Estate Froth: BMO

Better Dwelling

That’s the gist of the latest research note from the Bank of Montreal (BMO). The post Bank of Canada Policy Is “Too Loose,” Rate Hikes Will Reduce Real Estate Froth: BMO appeared first on Better Dwelling.

Banks 73

Bank of Canada Expected To Hike Rates Sooner Than Planned, May Cool Housing

Better Dwelling

The Bank of Canada (BoC) will update the public on monetary policy next Wednesday. Three Big Six banks said they expect the central bank to discuss higher rates. Canada Bank of Canada BMO Canadian Real Estate Prices National Bank of Canada RBC

Banks 112

Mortgage Rates To Climb, Bank of Canada Will Be Forced To Hike Early: Desjardins

Better Dwelling

Canada’s central bank is increasingly feeling the pressure from inflation. They see the Bank of Canada (BoC) hiking rates a quarter earlier than previously expected. Canada Bank of Canada Canadian Interest Rates Canadian Mortgages Canadian Real Estate Prices Desjardins

Banks 107