Housing Wire
OCTOBER 12, 2021
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. In response to the lawsuit, PNC Bank said that they “do not wish to offer a comment.”
Housing Wire
MARCH 6, 2024
In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3
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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. Stratmor predicts that by year’s end, nearly 50 M&A transactions involving IMBs will have been announced or closed.
Housing Wire
MARCH 5, 2024
Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.
Housing Wire
JULY 21, 2022
Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.
Housing Wire
APRIL 14, 2023
Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. One expert in the MSR sector, who asked not to be named, said the bidding for the offering appears to have closed in late February or early March.
Calculated Risk Real Estate
SEPTEMBER 8, 2023
The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.
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