Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. Blend went public on July 16 and closed its first day of trading at $20.90 The stock price hit a closing low of $17.26

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Equity Lending Banks Development 404

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”.

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Closing Lending Banks Equity 477

Housing Wire

JULY 30, 2021

While the exit of the large American banking institutions has reduced the visibility of the reverse mortgage product in a number of demonstrable ways, financial planners represent a key business segment that can help to make up some of the ground that was lost by the exit of those institutions from the business. A couple of things.

Industrial 404

Industrial Mortgages Loan Officer Banks 404

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. Time to eat the minnows?

Banks 393

Banks Mortgages Loans Equity 393

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. Curtis Mangus.

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Loans Closing Mortgages Equity 516

Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”.

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Equity Finance Loans Development 370

Housing Wire

SEPTEMBER 2, 2022

In addition, the ETF invests in MBS backed by loan pools sourced from non-traditional loan originators, including Community Development Financial Institutions and minority-owned banks. The OWNS ETF is still small by industry standards and struggling to grow and improve returns. million shares outstanding at a market price of $17.80

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Closing Marketing Investor Banks 450

Housing Wire

JANUARY 22, 2024

Sagent , a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. Sagent’s appointment of Marshall comes amid the company’s goals to deliver the mortgage servicing industry’s first cloud-native software platform this year. now Ally Financial, Inc.

Technology 412

Technology Banks Equity Mortgages 412

Housing Wire

MAY 17, 2022

Mortgage and home equity fintech FirstClose received a $35 million investment from Lateral Investment Management on Tuesday. This is FirstClose’s first institutional equity investment round: The company has been self-funded since its founding in 2000. home equity and mortgage markets. home equity and mortgage markets.

Equity 370

Equity Lending Banks Technology 370

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). Meetings will be conducted regularly via conference call. Overall, HELOCS accounted for 20.7%

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Equity Lending Finance Loans 368

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

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Equity Marketing Loans Bankruptcy 523

Housing Wire

FEBRUARY 3, 2023

The past few years in the housing industry have been nothing short of unprecedented. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. There is risk involved as HELOCs are tied to the prime rate and can continue to rise.

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Renovation Fixed-rate mortgage Equity Finance 382

Housing Wire

FEBRUARY 23, 2024

per share at market close the day before. The three areas in which AI is driving impact are mortgage banking, underwriting and servicing, Rocket CEO Varun Krishna shared with analysts during the latest earnings call. In particular, volume for Rocket’s home equity loan products tripled between the first and fourth quarters of 2023.

Equity 414

Equity Bankruptcy Loans Mortgages 414

Housing Wire

APRIL 8, 2024

While one came close to becoming law in 2023, the necessary language was ultimately not included in a budget bill and another temporary exception was put into place. 31, but reverse mortgage industry veteran George Downey of The Federal Savings Bank in Braintree, Mass. — That exception expired at the end of the day on Mar.

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Mortgages Equity Banks Industrial 406

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.

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Banks Lending Commercial Loans 370

Housing Wire

APRIL 24, 2023

Home equity is also the primary source of wealth for most Americans. Despite efforts by some in the housing industry, the minority homeownership gap has barely improved in the last 30 years. Wealth can be used to start a business or educate children. The overall U.S. homeownership rate stood at 65.8% and Hispanics come in at 48.6%.

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Closing New Construction Loans Equity 382

Housing Wire

AUGUST 10, 2023

Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream. Mortgage , and/or Closing Cost Credit. Lenders — already struggling with the mortgage industry rightsizing — have rolled out down payment assistance programs in recent months.

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Fixed-rate mortgage Closing costs Lending Banks 370

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

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. RTC), closed 747 S&Ls with assets of more than $407 billion. . There likely will be 40 to 50 deals done this year. Past is Present.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

AUGUST 29, 2022

The voluntary buyout follows requests from employees that are planning a pivot to a different industry, he added. “As The incentives included several months of salary, a portion of their banked time off and benefits coverage through November. billion, a number no competitor came close to.

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Equity Loans Banks Title 414

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. HW: How has the proptech space evolved in the last 5-10 years?

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Backup offer Loan Officer Home sale contingency Branding 414

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. billion in 2022 from last year’s $4.4 billion. . Of the component indices of the Conventional MCAI, the Jumbo MCAI fell by 0.7%

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Lending Loans Equity Mortgages 370

Housing Wire

OCTOBER 16, 2023

I close by reviewing what lies ahead – the policies we’re shaping, and the progress we hope to make,” Broeksmit said. The MBA, alongside several other trade groups, sent a letter to lawmakers and monetary policymakers that the government can do much more to help the housing industry while still fighting inflation.

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Fixed-rate mortgage Banks Lending Mortgages 414

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” Any time we see exits and consolidations we tend to see a dip in industry production for a time,” McCue said. “In This is a different situation.”

Mortgages 441

Mortgages Bankruptcy Principal Finance 441

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. The announcement comes shortly after MeridianLink, which is owned by private equity giant Thoma Bravo , posted its quarterly earnings results.

Mortgages 414

Mortgages Lending Technology Banks 414

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. Cooper had 4.3 billion in Q2 2023.

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Purchase and sale agreement Equity Principal Banks 404

Housing Wire

APRIL 6, 2023

The housing regulator, led by Sandra Thompson, said it will look at the current regulatory framework for the industry , with a particular eye toward standards , qualification criteria, barriers to entry into the profession and appraisal practices. I think not many people understand how this byzantine system works,” Chopra said.

Industrial 382

Industrial Lending Equity Banks 382

Housing Wire

NOVEMBER 16, 2021

nCino, a publicly traded financial tech company that specializes in cloud banking, said that its decision to purchase Utah-based SimpleNexus is a natural expansion of the company into the point-of-sale mortgage market. banks and credit unions, where nCino currently has over 1,100 customers.”. appeared first on HousingWire.

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Banks Technology Equity Development 433

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 433

Mortgages Banks Loans Industrial 433

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.

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Banks Commercial Closing Loans 139

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The total volume should not be lower than $100 million for each bank. In the first week of October, the bank also launched a $1.5 In May, Sen. Catherine Cortez Masto (D-NV) and Rep.

Banks 370

Banks Loans Equity Finance 370

Housing Wire

MAY 24, 2021

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. The goal is to hire the best and brightest in the industry, as well as brave and curious engineers and product leaders that don’t just build but innovate,” said Stavvy Co-founder Kosta Ligris.

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Land Lending Technology Banks 414

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. Interfirst purchased refinance leads and sent them to Woodward to close. “When I began with Interfirst, it was all refis.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

MARCH 7, 2022

” Lenders One will be selling purchase, refinance and home equity products at its “store-in-store” branch locations. Founded in 2000, Lenders One Cooperative has a network of more than 240 independent mortgage bankers, banks, credit unions, correspondent lenders, and suppliers of mortgage products and services.

Mortgages 457

Mortgages Equity Loans Lending 457

Housing Wire

MARCH 29, 2024

Anna Frankowska was recognized in 2017 as one of Forbes’ “ 30 Under 30 ” in Europe, having studied economics in London before moving to work in investment banking. naturally exposing her more closely to the American reverse mortgage industry. Frankowska is originally from Poland and her parents still live in Warsaw.

Mortgages 450

Mortgages Finance Loan Officer Equity 450

Housing Wire

MARCH 6, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. Most industry growth must come from proprietary loans.”

Mortgages 432

Mortgages Seller concession Principal Loans 432