Housing Wire

JULY 27, 2023

The Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released on Thursday the proposed changes for the Basel III rule (called the Basel endgame), which significantly increases capital requirements for banks. Community banks would not be impacted.

Banks 338

Banks Lending Mortgages Equity 338

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S. ” U.S.

Equity 376

Equity Loans Lending Banks 376

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 328

Equity Lending Loans Banks 328

Housing Wire

MAY 23, 2024

Freddie Mac ’s head of single-family acquisitions, Sonu Mittal , this week defended the government-sponsored enterprise’s proposal to acquire single-family, closed-end second mortgages amid opposition by trade groups that are worried about its impacts on the secondary market. “Six Six out of 10 borrowers are below a 4% mortgage rate.

Equity 344

Equity Closing Mortgages Lending 344

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 349

Equity Marketing Debt-to-income ratio Lending 349

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. Today, borrowers expect to close fast. Learn about the tools lenders should leverage to streamline home equity title and closing. Presented by: ServiceLink.

Equity 313

Equity Investor Marketing Title 313

Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. recently rebranded as Rithm Capital ).

Equity 366

Equity Loans Residential Banks 366

Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 billion of single-family residential loans at a discount, according to the outlet. Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets.

Purchase and sale agreement 338

Purchase and sale agreement Mortgages Banks Principal 338

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. The data shows that the bank produced $25.3 One push was made by acquiring the jumbo leader First Republic Bank after federal regulators seized it. billion in the home equity space from $9.6

Mortgages 359

Mortgages Banks Lending Equity 359

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. Residential Lending at TD Bank.

Renovation 352

Renovation Fixed-rate mortgage Equity Finance 352

Housing Wire

SEPTEMBER 13, 2022

The drop in mortgage credit availability follows volatile mortgage rates that closed out August at 5.8%, according to Black Knight ’s Optimal Blue OBMMI pricing engine before retreating in July. In August, Rocket Mortgage and its wholesale arm Rocket Pro TPO started offering home equity loans and Guaranteed Rate introduced a digital HELOC.

Lending 366

Lending Loans Equity Mortgages 366

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%

Equity 267

Equity Lending Finance Loans 267

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. billion.

Banks 342

Banks Lending Commercial Loans 342

Housing Wire

APRIL 28, 2023

. “This alliance with our organization allows us to further our four decades-long work to provide economic justice, eradicate food deserts, construct desirable workplaces and affordable housing, closing the digital divide and ultimately help families leave a rich and lasting legacy for the next generation,” T.D.

Lending 362

Lending Banks Commercial Equity 362

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. In April, MeridianLink paid roughly $28 million to acquire StreetShares , which provides lending technology to banks and credit unions.

Mortgages 356

Mortgages Lending Technology Banks 356

Housing Wire

SEPTEMBER 25, 2023

Senate Banking Committee hearing earlier this month. When property owners invest in loss mitigation, they should be promised access to coverage and relief on their premiums,” Douglas Heller, director of insurance at the Consumer Federation of America , said to the Banking Committee earlier this month.

Lending 422

Lending Mortgages Land Banks 422

Housing Wire

AUGUST 21, 2023

5000 list an impressive five times: Total Expert , which offers CRM and data-driven customer engagement solutions, turning customer insights into actions to increase loyalty and drive growth; and FirstClose , a tech solution provider for HELOC and home equity lenders. 658 in the 2023 Inc. Other established names to make the Inc.

Equity 346

Equity Technology Investor Lending 346

Housing Wire

JUNE 29, 2022

The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings. “A Established in 2018, Knox aims to help manage residential rentals with its algorithm-based platform. Prioritizing home equity solutions in a rising rate environment.

Loans 314

Loans Equity Lending Mortgages 314

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 332

Sales Mortgages Principal Equity 332

Housing Wire

AUGUST 24, 2023

Investors are concerned that the central bank will continue raising the funds rate, pushing borrowing costs even higher. Some are leveraging high home equity levels, others downsize their budgets or ask their family for cash assistance. Additionally, former Federal Reserve Bank of St. What to expect with the Fed ?

Mortgages 363

Mortgages Fixed-rate mortgage Banks Investor 363

Housing Wire

SEPTEMBER 29, 2020

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

Commercial 385

Commercial Residential Equity Banks 385

Housing Wire

AUGUST 16, 2022

Trius Lending, a local direct and hard-money lender specializing in residential investment, attributed its rapid success to customizing to investors’ needs. According to the firm, the core business at Trius Lending is residential rentals or properties for fix-and-flip. Everything can be done except for closing.

Mortgages 361

Mortgages Lending Investor Loans 361

Housing Wire

FEBRUARY 3, 2022

Piercy explained that companies, primarily bank and nonbank mortgage originators, have been “stockpiling” MSR assets over the past two years, holding them on their balance sheets and waiting for the right moment to sell them. Piercy added that private equity firms have been particularly active in the MSR market recently.

Purchase and sale agreement 340

Purchase and sale agreement Marketing Equity Banks 340

Housing Wire

JUNE 2, 2022

Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . Even though J.P. It’s very hard to hack a blockchain.”.

Equity 369

Equity Due diligence Technology Investor 369

Housing Wire

FEBRUARY 10, 2022

In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances. He was most recently CEO of Hayden Consulting , which advises mortgage banks, commercial banks, thrifts, REITs, and private equity firms.

Loan Officer 387

Loan Officer Finance Loans Banks 387

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well.

Mortgages 392

Mortgages Banks Loans Industrial 392

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. UWM in March also launched a bank statement product for self-employed borrowers and loans for real estate investors.

Mortgages 383

Mortgages Equity Loans Seller concession 383

Housing Wire

AUGUST 28, 2023

Filings show Better completed the acquisition of Birmingham Bank – a regulated U.K bank – in April 2023. The company acquired 100% of the equity of Birmingham for a total consideration of $19.3 The company acquired 100% of the equity of Birmingham for a total consideration of $19.3 residential mortgages, the company said.

Purchase and sale agreement 307

Purchase and sale agreement Loans Banks Finance 307

Housing Wire

JULY 12, 2021

Trussle’s investors include American bank Goldman Sachs and Amsterdam-based venture capital fund Finch Capital. trillion residential mortgage market. According to Better, Trussle works with over 90 lenders to close mortgages for U.K. via a high street bank,” Garg said. “We Founded in 2015, Trussle has raised £26.7m

Brokerage 355

Brokerage Mortgages Loan Officer Banks 355

Housing Wire

MARCH 23, 2021

Residential brokerage Compass took another step toward becoming a publicly traded company Tuesday, declaring it intends to sell common stock at a share price of between $23 and $26. million shares to the investment banks underwriting the initial public offering. at close of business Monday. billion market cap.

Marketing 295

Marketing Brokerage Residential Banks 295

Housing Wire

APRIL 13, 2021

A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. All loans were closed in 2020, so it does not include loans that were locked in 2020 but closed in 2021.

Mortgages 404

Mortgages Loans Banks Lending 404

Housing Wire

MARCH 28, 2022

commercial spaces/building and residential homes/townhomes) and inconsistent transactional processes, fragmentation in the market has prevented real-estate from adopting technology as quickly as other sectors – until now. While real estate is the largest asset class in the world, it’s a segment that is still highly fragmented.

Marketing 362

Marketing Title Closing costs Technology 362

Housing Wire

FEBRUARY 16, 2022

The mortgage servicing rights market took off like a rocket in January and it has continued to accelerate into the stratosphere in February, according to industry experts who follow the MSR market closely. We closed a $10 billion deal not long ago,” he said. Overall, as of December 6, 2021, Recursion’s data show banks controlled 33.2%

Marketing 347

Marketing Principal Banks Loans 347

Housing Wire

SEPTEMBER 22, 2022

During the past 18 months — when refis were low-hanging fruit — the LO closed around $3 million a month. This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. Next month I’m expecting to close $400,000 and nothing lined up for November,” she said.

Mortgages 373

Mortgages Loan Officer Loans Equity 373

Keeping Current Matters

OCTOBER 21, 2020

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater ). Many decided they would just stop making their payments and walk away from the house, which then resulted in the bank foreclosing on the property.

Equity 207

Equity Banks Closing costs Loans 207

Housing Wire

APRIL 16, 2021

The dropping of the S-1 closely follows the mortgage tech firm’s big venture capital raise in January, in which it raised $300 million in a Series G round from Tiger Global Management and others. Blend’s white label technology is what powers mortgage applications on the site of banks such as Wells Fargo and U.S. for about $1.8

Banks 244

Banks Lending Technology Mortgages 244

Housing Wire

MARCH 1, 2023

trillion by the close of 2024. Agency MBS trading activity also “dwarfs the other segments of the market, with $288 billion of daily trading volume,” according to a recent report from the Federal Reserve Bank of New York. By yearend 2023, according to the report, the size of the agency MBS market is projected to jump to $8.9

Marketing 348

Marketing Banks Mortgages Investor 348