Housing Wire

JANUARY 17, 2025

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. Cooper had previously acquired the assets in a deal with Flagstar Bank , which was announced in July and closed in November. It originated $2.37 year over year.

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Mortgages Lending Banks Finance 370

Housing Wire

MARCH 8, 2024

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. There will be bank failures, but not the big banks.”

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Banks Commercial Residential Lending 493

Housing Wire

OCTOBER 10, 2023

Lenders using MeridianLink Consumer loan origination software (LOS) will be able to leverage Blend’s unified platform and consumer banking origination software for a fast onboarding and application process for banking, credit card and loan products, Blend said in a news release on Tuesday.

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Lending Banks Technology Loans 434

Housing Wire

NOVEMBER 7, 2024

Impacts to mortgage credit Banks, insurers and regulators have long acknowledged that climate risks could threaten mortgage borrowers’ creditworthiness. For homeowners with conventional loans backed by Fannie Mae and Freddie Mac , insurance at replacement cost is mandatory, but flood insurance is only required in designated flood zones.

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Design Mortgages Lending As-is 482

Housing Wire

JULY 10, 2024

The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. Craig Timmins.:

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Lending Technology Loans Mortgages 443

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. Flagstar also offers brokers the opportunity to participate in the Flagstar FLEX monthly webinar series designed to help them better their businesses. John Gibson: SVP, National Sales Director; Wholesale & Correspondent Lending.

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Lending Banks Technology New Construction 370

Housing Wire

NOVEMBER 30, 2022

A recent lawsuit filed by Banc of California is claiming that mortgage lenders and servicers Sprout Mortgage (now defunct) and Planet Home Lending owe $1.5 In addition, the bank alleges that Sprout’s transactions with its warehouse lines have resulted in a deficiency of $2 million since the start of July 2022.

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Lending Mortgages Banks As-is 418

Housing Wire

DECEMBER 7, 2021

“Despite SPCPs’ being specifically authorized under [the Equal Credit Opportunity Act], for too long banks have expressed reticence to establish these programs, some citing concerns that the Fair Housing Act somehow bars what ECOA explicitly permits. In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act.

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Lending Development Design Banks 468

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Lending Finance Banks Equity 435

Housing Wire

DECEMBER 9, 2024

The reverse mortgage division of Rate formerly known as Guaranteed Rate recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rates reverse lending division as the company heads into 2025. That role is an active one, Allen said. Naturally, this includes reverse mortgages, he explained.

Mortgages 369

Mortgages Lending Banks Industrial 369

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

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Lending Principal Finance Loans 435

Housing Wire

MARCH 31, 2023

The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.

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Lending Banks Loans Residential 396

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported. The CDFI certification is a designation given by the U.S.

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Lending Finance Loans Design 370

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Cornerstone Capital Bank was formed following a merger between a nonbank and a traditional depository.

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Banks Loan Officer Lending Loans 397

Housing Wire

FEBRUARY 27, 2025

How can today’s mortgage lending market be summed up in one word? Acra Lending has done precisely that. Acra Lending is a proven leader in the space, and it has adapted and thrived despite market shifts. higher interest rates and elevated home prices create openings for non-QM lending. billion to $3.47

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Lending Technology Loans Mortgages 264

Housing Wire

DECEMBER 7, 2021

That’s not just a platitude; before the Civil War, most Americans were self-employed, there was no federal income tax and banking was decentralized, making it practically impossible to verify a borrower’s employment, income and assets. The post To advance mortgage lending, trust must take backseat to truth appeared first on HousingWire.

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Lending Mortgages Loans Banks 418

Housing Wire

FEBRUARY 6, 2025

Deephaven Mortgage a pioneer in non-QM lending offers loan products to serve borrowers who might not otherwise qualify for a traditional loan. Also, DSCR five- to nine-unit loans are designed for larger multi-family homes. Bank Statement loans are designed for self-employed borrowers. These loans go up to $2.5

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Loans Mortgages Equity Construction 315

Housing Wire

MARCH 14, 2025

DOGE Service that are ostensibly designed to limit or dismantle the Consumer Financial Protection Bureau (CFPB), its former director appeared Friday morning on CNBC to discuss the upheaval while warning consumers about the risks of a diminished bureau. When asked about this perspective, Chopra appeared skeptical of its veracity.

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Banks Lending Mortgages Investor 284

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. The post Flagstar Bank to back trio of mortgage-tech startups appeared first on HousingWire. Presented by: Total Expert.

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Banks Mortgages Lending Technology 355

Housing Wire

JULY 8, 2024

In the ever-evolving landscape of mortgage banking, executives face the critical challenge of leading their teams through turbulent times. The narrative gap Mortgage banking executives are tasked with bridging a significant narrative gap. Click Here Rene Rodriguez is a best-selling author, keynote speaker, and the CEO of Volentum.

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Banks Mortgages Industrial Technology 434

Housing Wire

JUNE 2, 2023

based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. When banks engage in redlining, they perpetuate existing patterns of segregation and widen the racial wealth gap in our country.

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Banks Lending Loan Officer Loans 321

Housing Wire

FEBRUARY 10, 2025

Non-QM Prime is designed to offer “flexible documentation” to borrowers with strong credit profiles. The company designed the platform to help lenders process complex loans with efficiency. This form of lending is growing in popularity, and lenders seem to be catching on.

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Loans Finance Investor Mortgages 315

Housing Wire

APRIL 4, 2025

The Platinum Peak product suite aims to offer higher available loan-to-value (LTV) ratios, which are designed to translate into higher loan proceeds for borrowers, according to the announcement. Previously, the Platinum line aligned its minimum amount with Federal Housing Administration (FHA) lending limits.

Mortgages 304

Mortgages Principal Loans Equity 304

Housing Wire

MAY 16, 2022

Here is where it gets murky – choosing the right non-QM lending partner! You want to make sure to work with a lender that utilizes efficient technology along with strong processes designed to ensure a smooth and easy experience. Do they have a bank statement review team? Do you call the AE that just brought you doughnuts?

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Lending Loans Investor Banks 370

Housing Wire

JUNE 6, 2023

In honor of National Homeownership Month, Chase Home Lending unveiled on Tuesday an upgraded suite of resources for homebuyers to assist in navigating the homebuying process and managing homeownership. We’re excited for consumers to explore our updated offerings and engage with tools that can help them achieve homeownership.”

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Lending Commercial Loans Banks 370

Housing Wire

MAY 24, 2021

Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.

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Land Lending Technology Banks 448

Housing Wire

MARCH 1, 2021

Fred Bolstad, executive vice president of retail lending at U.S. Bank Home Mortgage , will speak on a panel titled What Mortgage Tech is Solving Now at HousingWire’s Spring Summit on March 4. Bank Home Mortgage, Bolstad is responsible for over 4,000 employees, including nearly 1,400 mortgage loan officers. The post U.S.

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Banks Lending Loan Officer Title 418

Housing Wire

NOVEMBER 24, 2021

The state of New York recently adopted legislation applying the Community Reinvestment Act (CRA) to nonbank mortgage lenders, also known as independent mortgage banks (IMBs). Applying CRA to IMBs fails to recognize that IMBs are very different from banks. This comes after similar action by Illinois. So what could have an impact?

Banks 434

Banks Lending Loans Mortgages 434

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. The entire system has to be designed to inflate the price over time. Remember, the system is designed to keep home prices inflated.

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Loans Banks Equity Bankruptcy 544

Housing Wire

JULY 23, 2021

Acra Lending is doing what it can to help free up inventory. 3-month bank statement. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. The 3-month bank statement program is ideal for borrowers with nontraditional income streams.

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Marketing Banks Lending Loans 459

Housing Wire

DECEMBER 11, 2023

The bank received Matter Requiring Attention (MRA) notice from the Consumer Financial Protection Bureau ( CFPB ) on problems with loan discounts, CNBC reported on Monday, citing anonymous sources. fair lending laws has been on regulators’ radar in recent years. The CFPB has been tightening its screws on fair lending practices.

Mortgages 468

Mortgages Lending Loans Loan Officer 468

Housing Wire

SEPTEMBER 1, 2021

In 2019, Origence launched its “end-to-end” mortgage lending platform. It was designed to handle a company’s digital mortgage needs, help lenders to streamline the mortgage process, improve efficiency, increase sales opportunities and deliver a better borrower experience, according to a company statement announcing its launch.

Lending 418

Lending Technology Banks Loans 418

Housing Wire

JUNE 15, 2021

Johnson, who most recently led the depository bank’s Southeast division, will report directly to Sprout’s president, Shea Pallante. Johnson, based in Miami, has also worked at PNC Bank during his career in mortgage banking.

Mortgages 397

Mortgages Lending Banks Residential 397

Housing Wire

APRIL 13, 2023

Wholesale lending is great for helping serve underserved borrowers. The wholesale channel has the ability to offer borrowers a variety of choices, with access to many different bank and lending programs. As a CDFI (Community Development Financial Institution) — a designation given by the U.S.

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Lending Marketing Banks Investor 397

Housing Wire

MAY 21, 2021

The Urban Institute regularly cites statistics showing IMBs do a better job than banks of serving underserved borrowers, as measured by metrics such as FICO scores and debt to income ratios. CRA is designed to prevent banks from diverting funds OUT of a community where they take deposits in order to lend in other communities.

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Debt-to-income ratio Banks Lending Loans 436

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. Nearly 90% of VA-backed loans are made with no down payment.

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Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

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Closing Mortgages Banks Lending 418