Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

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. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The post Fifth Third Bank unveils new warehouse lending business appeared first on HousingWire.

Lending 384

Lending Banks Commercial Finance 384

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. For The Roscoe State Bank, Piper Sandler & Co. It funded $5.1

Lending 370

Lending Banks Commercial Loan Officer 370

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. regulators. regulators.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

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 104

Banks Commercial Loans Technology 104

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 370

Banks Mortgages Equity Loans 370

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 384

Banks Loan Officer Loans Commercial 384

Inman

MARCH 1, 2024

Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac.

Banks 170

Banks Commercial Loans Mortgages 170

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. “In

Banks 421

Banks Commercial Loans Finance 421

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 30 to $4.20

Mortgages 441

Mortgages Banks Marketing Commercial 441

Housing Wire

MARCH 6, 2024

The move strengthens the bank’s balance sheet amid a confidence crisis related to its commercial real estate loan portfolio. A former CEO of OneWest Bank from 2010 and 2015, Otting will become the CEO of NYCB, replacing Alessandro DiNello, who has held the position since Thomas Cangemi stepped down earlier this week.

Equity 416

Equity Mortgages Banks Commercial 416

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Loan production in the home equity arena was $1.8 BofA’s mortgage assets Bank of America had $227.7 Bank of America’s total mortgage-backed securities reached a $49.8 from the $3.9 from the $3.9

Mortgages 421

Mortgages Banks Equity Commercial 421

Housing Wire

FEBRUARY 15, 2024

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio.

Loan Officer 409

Loan Officer Commercial Investor Banks 409

Eye on Housing

MAY 12, 2023

According to the Federal Reserve Board’s April 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the first quarter of 2023—banks reported that lending standards tightened for most residential real estate (RRE) and commercial real estate (CRE) loan categories.

Lending 118

Lending Commercial Residential Loans 118

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.

Banks 370

Banks Lending Commercial Loans 370

Housing Wire

MARCH 1, 2024

DiNello was the president and CEO of Flagstar Bancorp , a bank recently acquired by NYCB. Long Island-based NYCB, which concluded the acquisition of Flagstar Bank in December 2022 and rescued Signature Bank in March 2023, has faced a confidence crisis due to its exposure to commercial real estate loans.

Banks 420

Banks Loans Commercial Mortgages 420

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Higher interest rates have slowed down the economy and made loans prohibitively expensive. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. Plus, many owners have no other option.

Lending 113

Lending Commercial Banks Construction 113

Marco Santarelli

MAY 2, 2024

Powell Warns of Bank Failures The stability of the banking sector is a critical component of the global financial system, and recent statements from the Federal Reserve (Fed) have highlighted concerns about potential bank failures. The Fed has identified banks with high concentrations in these areas as being at risk.

Banks 52

Banks Commercial Residential Lending 52

Housing Wire

MARCH 21, 2024

Compounding the lack of supply is the proverbial “lock-in“ effect that has disincentivized homeowners to sell their current properties, thereby giving up a low mortgage rate and taking on a new loan at a much higher rate. “A banks in comparison to international standards.

Industrial 426

Industrial Banks Residential Lending 426

Inman

FEBRUARY 13, 2024

Loans for office buildings specifically dropped 68 percent year over year and 32 percent quarter over quarter.

Loans 142

Loans Commercial Banks Lending 142

Housing Wire

JULY 14, 2023

The Consumer Financial Protection Bureau (CFPB) this week filed an amicus brief in a Maine Supreme Judicial Court in a case involving a married couple’s loan, joining with state officials including the attorney general, its Bureau of Financial Institutions and Bureau of Consumer Credit Protection.

Mortgages 369

Mortgages Commercial Banks Loans 369

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 441

Fixed-rate mortgage Loans Mortgages Loan Officer 441

Eye on Housing

MAY 10, 2022

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans.

Banks 128

Banks Loans Loan Officer Lending 128

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 HousingWire reported on the restructuring last week, noting that the bank cut hundreds of jobs at Flagstar, according to laid off employees. million loans as of December 31, 2022.

Mortgages 397

Mortgages Lending Banks Commercial 397

Housing Wire

FEBRUARY 27, 2024

The practice of redlining , initiated in the 1930s, where banks and insurers refused services to entire neighborhoods based on racial composition, further entrenched these disparities. After World War II, the GI Bill provided veterans benefits, including home loans. I’ve seen it again and again in the portfolios we trade.

Banks 432

Banks Loans Land Commercial 432

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. Department of Veteran Affairs (V.A.)

Mortgages 384

Mortgages FHA loan Loan Officer Banks 384

Housing Wire

AUGUST 1, 2023

One-third of active multifamily lenders made five or fewer loans over the course of 2022, according to MBA. Multifamily borrowing remained strong in 2022, largely as a result of lending by banks,” said Jamie Woodwell, MBA’s head of commercial real estate research. In terms of dollar volume, the greatest amount (42%) of the $480.1

Lending 369

Lending Commercial Banks Mortgages 369

Eye on Housing

AUGUST 3, 2023

According to the Federal Reserve Board’s July 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the second quarter of 2023—banks reported that lending standards tightened for all residential real estate (RRE) and commercial real estate (CRE) loan categories.

Lending 98

Lending Banks Loan Officer Commercial 98

Marco Santarelli

NOVEMBER 16, 2023

In a compelling presentation at the Commercial Economic Issues and Trends Forum during the 2023 NAR NXT, Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), indicated that the commercial real estate sector is poised for revitalization, calling on the Federal Reserve to consider a crucial move – cutting interest rates.

Commercial 103

Commercial Banks Lending Loans 103

Eye on Housing

FEBRUARY 10, 2023

According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans.

Loans 122

Loans Loan Officer Commercial Lending 122

Housing Wire

APRIL 7, 2023

trillion in commercial real estate debt will mature, “… by far more than any 5-year period in history.” Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. An opportunity for commercial real estate investors and developers? What does this sound like to you?

Commercial 397

Commercial Banks Fixed-rate mortgage Residential 397

Housing Wire

JULY 7, 2023

But increasing costs and the banking crisis this year have meant a fall-off in return on investment for flippers, and for those still interested, it can be more difficult to finance a fix-and-flip or a bridge loan than in past years. But its bridge loan and fix-and-flip loan pipeline is down 40% over that same time period.

Marketing 370

Marketing Lending Banks Loans 370

Housing Wire

JANUARY 18, 2024

Announced earlier this week as a part of a broader effort to introduce more liquidity into reverse mortgage-backed securities, the new product would enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement. They’d be able to borrow the money in the money market instruments.”

Development 421

Development Loans Banks Mortgages 421

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. Bank OZK has humble roots. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

DECEMBER 21, 2023

It is a sub-servicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. Its services include portfolio, government, and Fannie Mae and Freddie Mac loans.

Mortgages 431

Mortgages Commercial Banks Investor 431

Housing Wire

APRIL 4, 2023

Rithm Capital , the parent company of mortgage lenders Newrez and Caliber Home Loans , is expanding its business to Europe. Former Bank of America executive Marty Migliara has been tapped to lead the operations in the region.

Commercial 384

Commercial Lending Equity Banks 384