Housing Wire

NOVEMBER 16, 2021

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. Troy, Michigan-based Flagstar, a federal savings bank with some $27 billion in assets, and New York Community Bancorp (NYCB) announced plans to merge in April.

Banks 421

Banks Marketing Lending Loans 421

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. retail residential mortgage applications. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals.

Banks 358

Banks Mortgages Fixed-rate mortgage Loans 358

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. They took a $1.8

Banks 336

Banks Mortgages Loans Loan Officer 336

Housing Wire

AUGUST 30, 2021

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 The bank, based in Texas, also has branches in Alabama, Florida, Georgia and Tennessee. Specifically, Cadence will provide $4.17

Banks 384

Banks Lending Loan Officer Loans 384

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 369

Banks Mortgages Loan Officer Lending 369

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 308

Equity Mortgages Banks Commercial 308

Housing Wire

MAY 10, 2023

The data also suggests that the economy is close to peak rent inflation—lower monthly rent prices have been recorded for two consecutive months, and the price growth for new leases is still decelerating. According to Yun, the Fed’s rate hikes have hurt regional banks and the housing market. month over month, thanks to a 0.6%

Closing 352

Closing MLS Construction Residential 352

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 338

Mortgages Lending Banks Commercial 338

Housing Wire

FEBRUARY 5, 2021

Closing out this week’s people mover announcements, Western Alliance Bank named Jim Karr as national sales manager for its correspondent mortgage solutions team, which is part of the bank’s Specialized Mortgage Services group. Kinney has also held senior leadership positions at The Carlyle Group , Greenhill & Co.,

Banks 244

Banks Mortgages Lending Investor 244

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. Last year, Built acquired lienwaivers.io , a provider of lien waiver management and payment solutions for commercial and residential construction.

Technology 240

Technology Closing Construction Commercial 240

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 for the year from $44 billion in 2022.

Mortgages 375

Mortgages Banks Lending Equity 375

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 353

Banks Lending Commercial Loans 353

Housing Wire

APRIL 27, 2022

parent company of Flagstar Bank , has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 employees amid a significant drop in origination volumes and margins. Overall, the bank’s net income in the first quarter of 2022 dropped 60.4% The bank has a 0.7% Michigan-based Flagstar Bancorp , Inc.

Purchase and sale agreement 390

Purchase and sale agreement Mortgages Banks Branding 390

Housing Wire

MARCH 27, 2023

First Citizens Bank & Trust Company will acquire failed Silicon Valley Bank (SVB), which unexpectedly failed earlier this month and sent shock waves across the financial sector. The abrupt closure of SVB, after a run on deposits had left it insolvent , marked the largest bank failure in the U.S.

Banks 73

Banks Purchase and sale agreement Loans Loan Officer 73

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. But over the last ten years, Bank OZK, a small bank from Arkansas, has grown to become one of the most powerful financiers of large real estate projects in the U.S. Bank OZK has humble roots.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. In the fourth quarter of 2021, Flagstar originated about closed $10.7 The deal was supposed to close by the end of 2021, however, it has not yet received regulatory approval.

Lending 305

Lending Mortgages Banks Branding 305

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 429

Equity Lending Banks Loans 429

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

AUGUST 25, 2023

million) and Wells Fargo Bank ($1.1 AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Bowlby had aimed to close $100 million in origination volume a month but AmeriFirst’s origination volume came in way lower than expectations.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

SEPTEMBER 10, 2021

According to the OCC, the fine is also a result of the bank violating the terms of a 2018 compliance consent order , which alleged that Wells Fargo did not implement or maintain a compliance risk management program proportionate with the bank’s size, complexity and risk profile, resulting in “reckless practices.”

Lending 450

Lending Banks Loans Mortgages 450

Housing Wire

JANUARY 27, 2022

Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system. A spokesperson for Wells Fargo, the largest depository residential mortgage lender in the U.S.,

Mortgages 404

Mortgages Banks Loans Lending 404

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 373

Mortgages Lending Technology Banks 373

Housing Wire

FEBRUARY 2, 2024

During their departure, DKMC sales staff who are not joining NAF were informed by leadership that they will have to wait a few months before receiving all of their compensation tied to any loans closed before the M&A deal, per documents reviewed by HousingWire. 18, and the deal closed two weeks later. and NFM Lending.

Loan Officer 377

Loan Officer Loans Lending Mortgages 377

Housing Wire

JUNE 8, 2022

Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood. Solutions like active listing scan will help customers “close more loans more quickly,” he added. .

Short sale 323

Short sale MLS Banks Loans 323

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. She also served as a volunteer on numerous MBA committees and on the MBA Residential Board of Governors (RESBOG).

Industrial 448

Industrial Mortgages Banks Residential 448

Housing Wire

AUGUST 31, 2022

Xactus, which says it has more than 6,500 clients including bank and nonbank mortgage originators, uses its proprietary technology platform to close loans quickly. In June, the verifications solutions provider rolled out a monitoring program that scans residential addresses for changes in listing status.

Lending 369

Lending Technology Loans Residential 369

Housing Wire

SEPTEMBER 1, 2020

The banks need bodies. Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City.

Loan Officer 381

Loan Officer Banks Lending Residential 381

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. The lender closed the channel and laid off staffers earlier this year after incurring a $223 million loss in the second quarter.

Sales 348

Sales Mortgages Principal Equity 348

Housing Wire

FEBRUARY 3, 2023

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. Residential Lending at TD Bank. Additionally, 65% of the total respondents are currently planning or have plans to renovate their homes within the next two years.

Renovation 364

Renovation Fixed-rate mortgage Equity Finance 364

Housing Wire

DECEMBER 20, 2021

residential real estate market based on gross written premiums. The Doma Intelligence platform works by automating many of the rote tasks of the closing process including retrieving and analyzing documents that need to be searched. This brings the platform’s coverage to approximately 83% of the U.S. Presented by: Doma.

Title 372

Title Closing Inspection Residential 372

Housing Wire

AUGUST 25, 2022

Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm. trillion in the first quarter, according to the Federal Reserve Bank of St. million loss in the previous quarter.

Equity 381

Equity Loans Banks Title 381

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021.

Mortgages 339

Mortgages Marketing Banks Investor 339

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). billion have been completed involving HELOCs as collateral.

Equity 365

Equity Marketing Fixed-rate mortgage Finance 365

Housing Wire

MARCH 4, 2022

jobs report released Friday shows that 678,000 non-farm payroll jobs were added in February, and the return of skilled labor in residential construction is reason alone for optimism. gap in the level of employment compared to February 2020, and at this pace, the gap could be closed in three months.”. in January.

Residential 369

Residential Construction Renovation Industrial 369

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 366

Mortgages Lending Investor Loans 366

Housing Wire

APRIL 18, 2023

Given that HELOC organizations are more streamlined than closed-end lending, there is greater importance for the adoption of electronic closing documents, MISMO said last week, calling for participants to join a new development workgroup (DWG). Meetings will be conducted regularly via conference call. rebranded as Rithm Capital ).

Equity 281

Equity Lending Finance Loans 281

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 355

Mortgages Lending Banks Loans 355