Bank groups: CFPB should keep nose out of bank mergers

Housing Wire

A banking regulatory agency asked whether the Consumer Financial Protection Bureau should be involved in deciding whether to green light bank mergers. How to use AI to enhance primacy of bank clients. banks with more than $10 billion in assets),” the advocacy group said.

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Banks report rise in mortgage delinquencies

Housing Wire

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. The seven banks surveyed reported a total of 42,427 modifications completed, a 10.7%

Banks 329
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Texana Bank to trim workforce in California

Housing Wire

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.

Banks 266

Santander Bank to stop originating mortgages in the United States

Housing Wire

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. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications.

Banks 377

FGMC owes Customers Bank $25M, bankruptcy filing shows

Housing Wire

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. Legal Mortgage Secondary Aaron Samples Customers Bank FGMC

Banking agencies get deluge of feedback on CRA proposal

Housing Wire

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending.

Banks 249

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.

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 323

UWM rolls out bank statement loans for self-employed borrowers

Housing Wire

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications.

Banks 329

Banks Report Weaker Demand for Home Loans

Eyes on Housing

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Banks 131

New York Community Bank to acquire Flagstar

Housing Wire

New York Community Bank , one of New York City’s largest multifamily lenders, is set to diversify its business strategy with the acquisition of Michigan-based retail bank Flagstar Bancorp. The bank’s stock price was trading at a 26% discount to book value in late January.

Banks 329

Bank of America reports double-digit decline in mortgages in Q2

Housing Wire

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 Mortgage originations from the bank totaled $14.5

Banks 258

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 317

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 355

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 303

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 362

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 270

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 225

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 278

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 246

Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions

Housing Wire

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. The post Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions appeared first on HousingWire.

Banks 245

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 292

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 316

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.

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 269

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 315

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 99

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 68

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.

RE/MAX banks on organic growth in 2022?

Housing Wire

The post RE/MAX banks on organic growth in 2022? Despite a 1.6% drop in U.S.-based based agent count and a net loss of $15.6 million in 2021, RE/MAX Holding Inc.,

Banks 257

Canadian Bank Regulator Confirms Investor Mortgage Reduction Coming Next Year

Better Dwelling

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s bank regulator, confirmed new rules being rolled out in Q2 2023. The post Canadian Bank Regulator Confirms Investor Mortgage Reduction Coming Next Year appeared first on Better Dwelling.

Banks 106

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

Boost Your Exposure without Breaking the Bank

Properties Online

These real estate marketing tips can help you spread the word about your business while… Read More » Boost Your Exposure without Breaking the Bank. The post Boost Your Exposure without Breaking the Bank first appeared on Properties Online, Inc.

Banks 52

BMO Joins Other Banks In Upward Revisions To Its Bank of Canada Rate Forecast

Better Dwelling

Canada’s oldest bank joined the largest bank in making upward revisions to its rate forecast. BMO now sees the Bank of Canada (BoC) raising even faster than thought. Canada Bank of Canada BMO Canadian Interest Rates Canadian Real Estate Prices

Banks 71

Whoops! Bank of Canada Warns “Most” Major Real Estate Markets Might Be Bubbles

Better Dwelling

It’s not surprising to see a fickle public change their mind that fast, but it’s odd to see the Bank of Canada (BoC) do it. Bank of Canada Warns “Most” Major Real Estate Markets Might Be Bubbles appeared first on Better Dwelling.

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