Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The last day for fundings is April 28, the regional bank said in an e-mailed response.

Lending 382

Lending Banks Finance Loans 382

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 382

Banks Mortgages Loan Officer Residential 382

Housing Wire

AUGUST 14, 2023

The mortgage industry continues to be battered by negative headlines amid the slow in demand, the challenges of housing supply, and rising interest rates. Evolving with non-QM expertise The first step to taking advantage of this sector is continuing education on non-QM loans and their unique features.

Loans 369

Loans Banks Mortgages Lending 369

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Still, homebuyers took advantage of declining rates provoked by the turbulence and applied for home loans. for the week ending March 10 compared to the prior week.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 370

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 382

Loans Debt-to-income ratio Banks Mortgages 382

Housing Wire

JULY 25, 2022

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. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

Banks 370

Banks Loan Officer Loans Lending 370

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 424

Loans Mortgages Banks Fixed-rate mortgage 424

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.

Industrial 310

Industrial Mortgages Technology Loan Officer 310

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP loan program will be piloted in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

Loans 414

Loans Closing costs Development Finance 414

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.”.

Closing 477

Closing Lending Banks Equity 477

Housing Wire

NOVEMBER 1, 2021

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. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 414

Banks Mortgages Loan Officer Lending 414

Housing Wire

JUNE 22, 2023

Planet has acquired a $10 billion mortgage servicing rights (MSR) bulk of Ginnie Mae loans from Village Capital & Investment LLC. The deal with Village consists of 45,000 home loans securitized by Ginnie Mae.

Closing 370

Closing Lending Loans Commercial 370

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 393

Loans Purchase and sale agreement Due diligence Industrial 393

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Some 80% of the volume in our industry is done by about 40% of the LOs.

Loan Officer 404

Loan Officer Loans Mortgages Industrial 404

Housing Wire

JANUARY 3, 2023

Lowrie was most recently the president and CEO of Dytrix , a fintech company that enables secure financial transactions that includes closing agent management and real-time wire/ACH transfer validation for institutions. When Gateway Funding was sold in 2006, the firm had grown to 800 employees with 57 branches and had a loan production of $3.5

Industrial 450

Industrial Mortgages Banks Residential 450

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

APRIL 18, 2024

The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). Those who have adopted non-QM are seeing additional loans closed each month they otherwise wouldn’t have procured.

Marketing 424

Marketing Loans Investor Banks 424

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 404

Industrial Mortgages Loan Officer Banks 404

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 382

Industrial Banks Loans Design 382

Housing Wire

SEPTEMBER 2, 2022

Those securitized loan pools currently include 375 mortgages on homes owned primarily by minority and low-to-moderate income (LMI) families. 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.

Closing 450

Closing Marketing Investor Banks 450

Housing Wire

MAY 30, 2023

Artificial intelligence (AI) is a buzzword in virtually every industry right now. And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2%

Loan Officer 393

Loan Officer Loans Banks Technology 393

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.

Banks 393

Banks Mortgages Loans Equity 393

Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 414

Mortgages Loan Officer Loans Banks 414

Housing Wire

JANUARY 5, 2022

The most wonderful time of the year, as the song would have us believe, comes to a close with Epiphany, the 12 th day of Christmas, Jan. So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. The mortgage industry has been going through these cycles since the 1980s.

Industrial 442

Industrial Mortgages Principal Technology 442

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

FHA loan 390

FHA loan Loans Title Mortgages 390

Housing Wire

SEPTEMBER 2, 2021

The mortgage industry is still seeing record-breaking numbers, but those numbers have started to wane and lenders looking to succeed in a slow market need to begin preparations today. While new technologies have a reputation for breaking the bank, the average lender only budgets less than 10% of their overall operations costs for technology.

Technology 424

Technology Closing Loan Officer Mortgages 424

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. Consumer loans such as mortgages and other financial documents require notarization. Register for the FinLedger Daily Newsletter.

Closing 483

Closing Loans Banks Investor 483

Housing Wire

AUGUST 10, 2021

We were able to witness first-hand over the past 18 months that the demand for non-QM will remain high because there are always borrowers who cannot qualify for a mortgage loan without it. The fact is non-QM loans are responsible, good-performing loans that help the mortgage industry thrive. It all depends on the lender.

Industrial 370

Industrial Mortgages Loans Closing 370

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

Loans 457

Loans Technology Mortgages Finance 457

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. The post Lending standards tighten as appetite for riskier loans drops appeared first on HousingWire.

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. An accelerated broker closing program and regional underwriting and closing teams are just some of the ways Flagstar’s wholesale program equips brokers with the tools they need to grow.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

JULY 19, 2022

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. Their research shows the U.S.

Industrial 414

Industrial Mortgages Loan Officer Technology 414

Housing Wire

DECEMBER 1, 2020

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. LOs are only human — Tech is necessary to keep up with max loan volumes. Presented by: Total Expert. The current program will end Feb.

Banks 346

Banks Mortgages Lending Technology 346

Housing Wire

SEPTEMBER 2, 2020

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $4,548 on each loan they originated in the second quarter of 2020 – nearly tripling the average first-quarter gain of $1,600 per loan, according to a report by the Mortgage Bankers Association.

Loans 393

Loans Banks Mortgages Industrial 393

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 393

Loans FHA loan Principal Marketing 393

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. 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.

Fixed-rate mortgage 433

Fixed-rate mortgage Loans Mortgages Loan Officer 433

Housing Wire

APRIL 9, 2024

With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10-basis point tax on Fannie Mae and Freddie Mac loans for another decade — not based on loan risk, but to pay for non-housing spending.

FHA loan 442

FHA loan Loans Title Mortgages 442