Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion from the Federal Home Loan Banks , $10.5 billion in Bank Term Funding Program borrowings. The company secured $1.4

Banks 397

Banks Commercial Loans Investor 397

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

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 431

Mortgages Loan Officer Banks Equity 431

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

Eye on Housing

MARCH 30, 2023

According to NAHB analysis of Federal Deposit Insurance Corporation (FDIC) data, large banks (assets greater than $10 billion) have increased their share of the residential construction loan market above pre-Great Recession levels in recent years. The majority of 1-4 residential construction loans are still.

Residential 69

Residential Construction Banks Loans 69

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 383

FHA loan Loans Title Mortgages 383

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. The post Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions appeared first on HousingWire. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

MARCH 21, 2024

The silver lining, however, is that builders have picked up their pace of construction. 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

Industrial 426

Industrial Banks Residential Lending 426

Housing Wire

MARCH 12, 2024

Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans.

Lending 421

Lending Technology Loans Equity 421

Housing Wire

MARCH 20, 2024

The organization recognized LoanPASS for its loan pricing software, which can map out forward and reverse mortgage options side by side. “In Partnering with LoanPASS to implement their product and pricing engine was an easy decision as it seamlessly aligned with our vision,” Smartfi CEO Gregg Smith said in a statement in January.

Lending 420

Lending Mortgages Technology Banks 420

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs. AFR offers agency, nonagency and government lending products.

Lending 430

Lending New Construction Construction Finance 430

Realtor.com

MARCH 8, 2021

Instead, you might need a construction loan. In this installment from our Guide to Building Your Own Home , we’ll cover everything you need to know about construction loans. What is a construction loan? This down payment is based on the combined cost of the land and estimated construction costs.

Loans 120

Loans Construction Land Finance 120

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 450

FHA loan Loans Title Mortgages 450

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

Inman

MARCH 24, 2023

Fannie Mae economists say jumbo mortgages and construction loans could get more scarce if regional banks tighten lending standards.

Banks 153

Banks Lending Construction Loans 153

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

Realty Biz

JANUARY 23, 2024

CIBC Bank USA has unveiled its latest initiative aimed at promoting affordable housing, encompassing a $17.6 million construction loan, a $708,000 permanent loan, and a $26 million investment in Boulevard Apartments Preservation, LP, to facilitate the acquisition and restoration of the existing Boulevard Apartments in Chicago.

Banks 87

Banks Commercial Renovation Loans 87

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Instead of Mary and Bob Smith buying a place, it’s Mary and Bob Smith and Bob’s mom,” said Dominic Carlucci, sales manager at CMG Home Loans. “We’re Really struggling. It’s no longer about just outlasting a bad market for a couple of months. “I

Loan Officer 410

Loan Officer Mortgages Fixed-rate mortgage Loans 410

Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Development financing for larger new construction projects and alternative financing approaches should also be considered. Traditional mortgage loans are a common choice, particularly for individual spec homes.

Loans 108

Loans Finance Construction Commercial 108

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The total volume should not be lower than $100 million for each bank. In the first week of October, the bank also launched a $1.5 In May, Sen.

Banks 370

Banks Loans Equity Finance 370

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. The lender also maintained its servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans.

Bankruptcy 370

Bankruptcy Mortgages Loans Lending 370

Housing Wire

DECEMBER 1, 2021

McCord’s penalty is dwarfed by the $95 million that Cauthron found he cost local banks, financial institutions and homeowners, during his sentencing in the Western District of Oklahoma on Monday. million in Spirit and Citizens loans “out of trust.”. His company serviced about 12,000 loans totaling $1.8

Mortgages 544

Mortgages Lending Banks Loans 544

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

Housing Wire

JULY 19, 2023

Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales. As a direct and proximate result of Chikonde’s actions, Fannie Mae temporarily suspended Go Mortgage’s seller/service number, which caused the company to be unable to deliver loans,” the suit said.

Mortgages 370

Mortgages Marketing Lending Construction 370

Housing Wire

JANUARY 18, 2024

HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.709% on Thursday, up from 6.66% recorded at the same time last week. According to projections from central bank officials, rates would be slashed to a median 4.6% 12 compared to a week earlier. The Fed next meets on Jan.

Fixed-rate mortgage 530

Fixed-rate mortgage Mortgages New Construction Construction 530

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

JUNE 22, 2023

The lender maintained their servicing portfolio, servicing about $1 billion of Fannie Mae , Freddie Mac and Ginne Mae loans. Because now what they have to do is they have to go in and charge points to get their loans done,” he said. LOs at the lender receive 150 to 165 bps per loan depending on the arena, Bowlby said.

Loan Officer 370

Loan Officer Mortgages Loans Lending 370

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. How lenders will benefit from Proctor Financial’s acquisition of Loan Protector. Presented by: Proctor Loan Protector. billion in assets at the end of 2020.

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year. Barnes said.

Loans 410

Loans Renovation Construction Mortgages 410

Housing Wire

NOVEMBER 2, 2021

Investment firm Pretium has acquired the leading fix-and-flip lender Anchor Loans LP from affiliates of Wafra Capital Partners Inc. California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. and other owners.

Loans 375

Loans Finance Residential Investor 375

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

APRIL 19, 2021

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. Treasury are imposing additional risk criteria on loans acquired. The company has brought on more than $80 million in investment properties since its launch in 2019.

Construction 384

Construction Banks Finance Loans 384

Housing Wire

SEPTEMBER 27, 2023

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. Home price gains hit a new high , rising 0.6%

Mortgages 421

Mortgages Marketing Banks New Construction 421

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.

Due diligence 410

Due diligence Marketing Mortgages New Construction 410

Housing Wire

APRIL 19, 2021

Servicers’ total number of loans in forbearance dropped for the seventh week in a row, down another 16 basis points last week to 4.5% Following the massive decline the week prior, the share of loans in forbearance has dropped a total of 40 basis points in the last two weeks.

Loans 410

Loans Banks Construction Investor 410

Housing Wire

JUNE 29, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.71% as of June 29, up marginally from last week’s 6.67%. The central bank’s future decision will indicate what to expect for the remainder of 2023.

Mortgages 384

Mortgages New Construction Investor Construction 384

Housing Wire

MAY 4, 2023

This week, mortgage rates inched down slightly amid recent volatility in the banking sector and commentary from the Federal Reserve on its policy outlook,” Sam Khater , Freddie Mac’s chief economist, said in a statement. Due to limited options available on the market, buyers are increasingly turning to newly constructed homes, Xu added.

Mortgages 384

Mortgages Loans Residential Equity 384