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

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 396

Equity Mortgages Banks Commercial 396

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 billion in mortgages in 2023.

Mortgages 438

Mortgages Banks Marketing Commercial 438

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. All of this combined to push commercial lending to a standstill. Plus, many owners have no other option.

Lending 113

Lending Commercial Banks Construction 113

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

Realty Biz

JANUARY 27, 2022

Commercial real estate sales in the U.S. The report said commercial property sales hit a record-breaking $809 billion last year, almost double that of 2020’s total sales. Commercial real estate has posted a dramatic recovery ever since the beginning of the pandemic. Multifamily sales totaled $335.3

Commercial 94

Commercial Sales Investor Equity 94

Housing Wire

JULY 14, 2023

The Maine state agencies filed the lawsuit, Franklin Savings Bank v. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis. The bank has argued that because the loan documents stated that the loan had a commercial purpose, the law does not apply.”

Mortgages 362

Mortgages Commercial Banks Loans 362

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

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. TF: Effective risk management in REO asset sales involves awareness of the intrinsic risks.

Due diligence 408

Due diligence Marketing Mortgages New Construction 408

Housing Wire

OCTOBER 30, 2020

Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. In his new role, Myers will oversee new client acquisition, emerging market expansion, new product growth with existing clients and sales strategy.

Lending 383

Lending Banks Title Commercial 383

Housing Wire

JULY 7, 2023

ATTOM reports that one in 12 home sales last year — 8.4% — involved fix-and-flip investors. 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.

Marketing 370

Marketing Lending Banks Loans 370

Housing Wire

SEPTEMBER 15, 2023

The result should be collapsing costs and cycle times, improving quality, reducing repurchase risk and certifying that a loan, and its related assets are “Fit 4 Sale.” As every consumer facing commercial platform will attest — payments are the prize. The capability to enforce these rights can eliminate errors and rework. What’s next?

Commercial 408

Commercial Technology Investor Title 408

Housing Wire

FEBRUARY 21, 2024

Many Axis trainees come from sales-based careers in hospitality, retail or insurance, which makes it easier to adapt to the mortgage business. Hall joined Axis’ first program in 2021, learned the ropes and landed a paid internship at EscrowTab , a software company, where she now handles sales support. were women.

Mortgages 409

Mortgages Title Marketing Lending 409

Housing Wire

SEPTEMBER 27, 2023

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. Marvin Chang, Revvin’s chief commercial officer, has stepped down to pursue an opportunity in academia.

Lending 440

Lending Loan Officer Loans Technology 440

RIS Media

FEBRUARY 15, 2022

New data from the Mortgage Bankers Association’s (MBA) indicates commercial and multifamily mortgage loan originations were 79% higher in the fourth quarter of 2021 compared to a year ago, and increased 44% from the third quarter of 2021. 147% increase in commercial bank portfolio loans. 122% increase for office properties.

Commercial 98

Commercial Lending Loans Investor 98

Housing Wire

NOVEMBER 21, 2022

According to FinCEN’s advanced notice of proposed rulemaking (ANPRM), these requirements looked at establishing more widespread recordkeeping and reporting mandates, as authorized under the Bank Secrecy Act, for individuals involved in all-cash real estate transactions in both the residential and commercial real estate sectors.

Title 397

Title Land Banks Commercial 397

Housing Wire

MAY 8, 2023

Flagstar Bank , a top-25 U.S. In December 2022 , the bank concluded the merger with New York Community Bancorp after waiting for regulatory approvals for over a year. ” Meanwhile, Signature brought in high-net-worth customers and took the loan-to-deposit ratio to less than 90%, strengthening the bank’s balance sheet. .”

Banks 366

Banks Lending Loans Mortgages 366

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 450

Technology Development Title Lending 450

Realty Biz

SEPTEMBER 14, 2022

The rest is financed through your loan with a bank, which you slowly pay off over time. . Unfortunately, commercial real estate is rarely this simple. If you’re new to commercial real estate investing, it’s important to know about the capital stack. The post What Is Preferred Equity in Commercial Real Estate?

Equity 93

Equity Commercial Investor Finance 93

Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. That concern is overblown, according to several market experts. Easy target.

Purchase and sale agreement 397

Purchase and sale agreement Banks Mortgages Residential 397

Housing Wire

OCTOBER 10, 2022

billion in sales and more than $1 billion in net income. When Toll Brothers went public, it had completed less than 1,000 homes, had $124 million of sales and $12 million in profits, according to Barrons. billion of cash in the bank so it’s hard to cry for yourself. billion of cash in the bank so it’s hard to cry for yourself.

Commercial 397

Commercial Development Land Banks 397

Housing Wire

MARCH 28, 2023

Financial news this month has been dominated by ructions in the commercial banking industry , as some institutions’ risk management functions proved unequal to the rising level of interest rate,” Lazzara said in a statement. Home price growth in the 10-city composite index also slowed in January, recording an annual gain of 2.5%

Commercial 397

Commercial Equity Banks Finance 397

Housing Wire

APRIL 14, 2022

The soaring federal deficit requires even more buyers of bonds, and some government bond sales may make it more difficult to issue MBS securities, unless with higher interest rates.”. The most important private market segment of agency MBS holdings is commercial banks,” the Recursion report states. by the end of the year.

Marketing 410

Marketing Purchase and sale agreement Investor Banks 410

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? Market conditions have certainly trended downward for residential or commercial real estate. Right now, we’re generally seeing more mixed-use developments and multifaceted commercial projects.

Commercial 421

Commercial Brokerage Due diligence Title 421

Housing Wire

MARCH 1, 2023

That reflects a substantial reduction in new and existing-home sales and refinancing. 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. Outright sales of 2% and 2.5%

Marketing 384

Marketing Banks Mortgages Investor 384

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. ” Traditional banks have proximity to borrowers due to a preponderance of local branches across the country.

Mortgages 522

Mortgages Marketing Lending Loans 522

Housing Wire

APRIL 25, 2023

The February data pre-dates the challenges in the commercial banking industry , which started in early March, however, industry forecasters anticipate that interest rates will remain elevated as the Federal Reserve continued to focus on its inflation-reduction targets. in February, and now stands 4.9% below its June 2022 peak.”

Commercial 394

Commercial Closing Banks Finance 394

Housing Wire

DECEMBER 9, 2022

CoStar Group , a provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, cut approximately 100 positions as it announced the integration of Homesnap with its Homes.com brands late last month. . CoStar sheds jobs after resi reorg .

Industrial 394

Industrial Residential Mortgages Investor 394

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

Title 370

Title Mortgages Commercial Technology 370

Housing Wire

AUGUST 9, 2022

LLC , recently announced that it is exploring a potential company sale or merger in the wake of posting a $22.4 billion in assets, has a diverse portfolio of residential and commercial real estate assets. The stock-value pressure is prompting the WMC to explore alternatives going forward, including a possible sale of the company.

Marketing 397

Marketing Bankruptcy Loans Principal 397

Realty Biz

FEBRUARY 6, 2023

Commercial mortgage-backed securities (also known as CMBS) are a type of fixed-income security forming 2% of the fixed-income market. These are financial investment products on commercial properties, as opposed to residential realty. It’s also easier for commercial borrowers to gain access to mortgages and funds.

Commercial 82

Commercial Principal Investor Banks 82

Broke Agent Media

MAY 10, 2023

He also expects home sales to increase in 2024 after bottoming out this year. Yun’s forecast for the commercial real estate market includes a decrease in valuations of commercial properties and a decline in total transactions. commercial real estate market. in 2023 and fall below 6.0%

Commercial 75

Commercial Marketing Residential Banks 75

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. business advisory firm in real estate, mortgage finance, digital mortgage, banking and capital markets. Register for the FinLedger Daily Newsletter.

Closing 491

Closing Loans Banks Investor 491

Realty Biz

APRIL 19, 2024

Only they have access to real estate comps, MLS listings, and local market trends that can help you buy, rent, sell, or invest in residential, commercial, or industrial real estate. Redfin reported that in January 2024, the American median home sale price was approximately $402,000. This average increased by 5.1

Marketing 90

Marketing Fixed-rate mortgage Construction Banks 90

Housing Wire

APRIL 17, 2024

High mortgage rates, fewer mortgage applications and fewer home sales are unfortunately not the only effects housing professionals could see from a more prolonged high-rate environment. trillion in commercial real estate debt comes due over the next few years. Homebuilders, too, feel the effects of prolonged high rates.

Mortgages 473

Mortgages Fixed-rate mortgage Banks Residential 473

Marco Santarelli

DECEMBER 6, 2023

After reaching a peak near 8% in October, the retreat in mortgage rates is anticipated to stimulate housing inventory and sales. The MBA survey, a staple since 1990, draws on responses from mortgage bankers, commercial banks, and thrifts, covering more than 75% of all retail residential mortgage applications in the US.

Mortgages 105

Mortgages Fixed-rate mortgage Loans Commercial 105

Redfin

FEBRUARY 21, 2024

Manchester, New Hampshire Population: 115,644 Median Sale Price: $411,750 Manchester, NH homes for sale Manchester, NH houses for rent As the biggest city in New Hampshire, Manchester provides residents with a great arts scene, highlighted by the historic Palace Theatre and the Currier Museum of Art. Explore more of Concord, NH 4.

Banks 52

Banks Sales Commercial Residential 52