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

Housing Wire

JUNE 22, 2023

To understand the profile of the loans, Nevada-based mortgage banking company Village moved its focus to the Federal Housing Administration (FHA) Streamline Refinance program in 2011, per its website. billion owned mortgage servicing portfolio, according to Inside Mortgage Finance (IMF) estimates. The volume in Q1 2023 was 68.3%

Closing 354

Closing Lending Loans Commercial 354

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. Bank OZK has humble roots. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Banks 369

Banks Lending Commercial Loans 369

Housing Wire

FEBRUARY 5, 2021

Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. Modern construction finance requires new infrastructure altogether. and Canada.

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Technology Closing Construction Commercial 267

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement.

Mortgages 383

Mortgages Lending Banks Commercial 383

Housing Wire

SEPTEMBER 15, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. A signer such as a customer closing on a loan appears before a notary on a video call and they complete, sign and notarize the document, he said.

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Closing Loans Banks Investor 482

Housing Wire

JUNE 7, 2023

“Christine is a passionate and influential leader in real estate finance and is a terrific choice to lead MBA and its members through the challenges and opportunities our industry faces,” said Matt Rocco , the 2023 MBA chairman and president of Colliers Mortgage.

Commercial 354

Commercial Finance Lending Mortgages 354

Marco Santarelli

MARCH 20, 2023

In this blog post, we will be reviewing the list of failed banks in the United States. It's never good news when we hear about a bank failure , and unfortunately, there have been quite a few in the United States over the years. Banks are an important part of our financial system, but unfortunately, they can fail from time to time.

Banks 139

Banks Commercial Closing Loans 139

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. The investment is expected to close in the middle of 2021. Veritex is one of Texas’ largest banks, with $8.8 billion in assets at the end of 2020.

Mortgages 370

Mortgages Lending Banks Loans 370

Marco Santarelli

MARCH 14, 2023

The Impact of Bank Failures on the Housing Market The year 2023 has been marked by a series of bank failures, leaving many to wonder what the impact of these failures will be on the housing market and the wider economy. Bank failures have been a common occurrence throughout history, often causing ripples throughout the economy.

Banks 98

Banks Lending Finance Commercial 98

Housing Wire

APRIL 9, 2024

Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan. Lenders are a mix of credit unions, commercial banks, and mortgage lending companies. billion in closed loan volume last year. UWM ended 2023 as the top U.S.

Fixed-rate mortgage 421

Fixed-rate mortgage Loans Mortgages Loan Officer 421

Marco Santarelli

NOVEMBER 10, 2023

If you are a customer of Citizens Bank in Sac City, Iowa , you may have been surprised to find out that your bank was closed by the regulators on November 3, 2023. This marked the fifth bank failure in the US this year and the first one in Iowa since 2011. The estimated cost of resolving Citizens Bank is $14.8

Banks 52

Banks Commercial Lending Loans 52

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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Technology Development Title Lending 441

Housing Wire

MAY 8, 2023

Flagstar Bank , a top-25 U.S. In December 2022 , the bank concluded the merger with New York Community Bancorp after waiting for regulatory approvals for over a year. ” Meanwhile, Signature brought in high-net-worth customers and took the loan-to-deposit ratio to less than 90%, strengthening the bank’s balance sheet. .”

Banks 351

Banks Lending Loans Mortgages 351

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. Interfirst purchased refinance leads and sent them to Woodward to close. The work was not complex, he said.

Mortgages 519

Mortgages Marketing Lending Loans 519

RIS Media

AUGUST 11, 2021

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021, a 31% increase from 2020’s volume of $442 billion, according to a new forecast released by the Mortgage Bankers Association (MBA). ” Source: MBA.

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Lending Commercial Finance Loans 98

Housing Wire

APRIL 25, 2023

The February data pre-dates the challenges in the commercial banking industry , which started in early March, however, industry forecasters anticipate that interest rates will remain elevated as the Federal Reserve continued to focus on its inflation-reduction targets. in February, and now stands 4.9% below its June 2022 peak.”

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Commercial Closing Banks Finance 377

Housing Wire

APRIL 14, 2022

Long-term, however, they agree the market will work through the changes and likely wind up better off, assuming the Fed’s so-called quantitative tightening strategy manages to tame runaway inflation and chases off its close cousin, a recession. “It As of January 2022, Fannie’s asset portfolio stood at $108.5 in 2009 to 1.9%

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Marketing Purchase and sale agreement Investor Banks 403

Housing Wire

FEBRUARY 3, 2021

Pacific Western Bank , the wholly owned subsidiary of PacWest Bancorp , announced Tuesday it had acquired Civic Financial Services , a private money lender that caters to real estate investors. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market. It also offers multifamily loans.

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Banks Lending Investor Loans 326

Housing Wire

MARCH 28, 2023

“Financial news this month has been dominated by ructions in the commercial banking industry , as some institutions’ risk management functions proved unequal to the rising level of interest rate,” Lazzara said in a statement. Home price growth in the 10-city composite index also slowed in January, recording an annual gain of 2.5%

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Commercial Equity Banks Finance 392

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

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Title Mortgages Commercial Technology 368

Housing Wire

DECEMBER 9, 2022

“Profitability is likely to remain very constrained well into 2023, until excess origination capacity in the industry declines materially,” Moody’s analysts said in a recent report on nonbank mortgage finance companies. . UpEquity claims it takes 17 days, on average, to close a deal, while the average in the industry is closer to 50 days. .

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Industrial Residential Mortgages Investor 377

Housing Wire

DECEMBER 15, 2020

LERETA also offers life-of-loan, basic, and commercial determinations, as well as portfolio reviews. including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders. “Our combined industry expertise and experience will continue to provide customers the support they need.”.

Commercial 219

Commercial Lending Loans Banks 219

Realty Biz

OCTOBER 21, 2023

First-time Spec house builders need to understand the nuances of financing to ensure successful projects. From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Challenges and Opportunities The world of spec house financing presents both challenges and opportunities.

Loans 108

Loans Finance Construction Commercial 108

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Average time to close.

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Closing Purchase and sale agreement Pre-approval Inspection 112

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? Market conditions have certainly trended downward for residential or commercial real estate. CRE firms are also suffering through the highest interest rates seen in years.

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Commercial Brokerage Due diligence Title 409

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Zoning determines land use, such as residential, commercial, or agricultural. Can you imagine buying a lot only to discover it has crept too close to the neighboring lot line?

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Land Due diligence Title search Finance 127

Housing Wire

AUGUST 25, 2022

“For some smaller originators, it could kind of move the needle,” said Bose George, mortgage finance analyst at Keefe, Bruyette & Woods (KBW). in the second quarter from the first quarter to $135 billion, according to Inside Mortgage Finance estimates. At Finance of America , reverse mortgages have been a ??

Mortgages 393

Mortgages Equity Loans Seller concession 393

Housing Wire

MARCH 13, 2023

Following the collapse of Silicon Valley Bank last week, the biggest bank failure since Washington Mutual in 2008, two other American banks with significant roles in the housing industry were hit by a deposit run. California-based First Republic Bank, the 14th-largest U.S. billion loan portfolio at the end of 2022.

Banks 369

Banks Mortgages Marketing Investor 369

Housing Wire

MAY 1, 2023

Less than two months after the abrupt failures of Silicon Valley Bank and Signature Bank , federal regulators seized First Republic Bank and sold it to JPMorgan Chase Bank. First Republic is the largest lender to collapse since the 2008 financial crisis and the second-largest bank failure in American history.

Banks 367

Banks Commercial Loans Principal 367

Realty Biz

MARCH 15, 2021

While blockchain has already been used in sectors like finance and logistics for many years, the technology is now being leveraged within the real estate sector. Using cryptocurrencies to purchase real estate without using banks has already been happening over the last decade. Image Credit: Unsplash.

Technology 145

Technology Due diligence Title Marketing 145

Realty Biz

FEBRUARY 16, 2021

A home mortgage is a loan given by a financial institution like a bank or a mortgage company. This loan is for the sole purpose of purchasing a residential – it cannot be a form of commercial or industrial – property from the owner for a number of years. Home Lending 101. Benefits of Home Lending. Great Affordability.

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Lending Loans Finance Title 108

Norada Real Estate

MAY 3, 2023

Conventional Loans These are the most common type of real estate loans, and they are issued by banks and other financial institutions. Additionally, conventional loans are often easier to refinance than other types of loans, which can help investors adjust their financing as their needs change.

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Loans VA loan FHA loan Hard money loan 52

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” For example, bank regulators in July released a plan to increase capital requirements for residential mortgages, the Basel III Endgame rules. Banks will always serve their best clients.

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Equity Banks Investor Residential 375

Housing Wire

APRIL 26, 2021

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. according to Inside Mortgage Finance.

Banks 382

Banks Branding Commercial Loans 382

Realty Biz

AUGUST 19, 2021

Whether it’s a residential or commercial real estate investment, completing a transaction could prove to be daunting. A purchase this major could affect not just your finances but even your emotional and psychological states. Mortgage loans can take a while to process, especially if you’re getting them from reputable banks and lenders.

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Housing Inspector Banks Loans Closing costs 109