Housing Wire

AUGUST 23, 2023

based Regions Bank $2.95 The Board fined Regions “for its failure to effectively monitor a portfolio of home equity loans for compliance with flood insurance regulations due to changes in loan servicing platforms and third-party service providers,” noting that the bank had a pattern of individual violations of flood insurance regulations.

Banks 313

Banks Equity Loans Residential 313

Housing Wire

JANUARY 18, 2024

Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product. That’s all it says.”

Development 383

Development Loans Banks Mortgages 383

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S. ” U.S.

Equity 382

Equity Loans Lending Banks 382

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

Equity 359

Equity Marketing Debt-to-income ratio Lending 359

Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. Launched in 2012, Blend raised $300 million in January 2021, not long after it introduced a series of consumer banking tools.

Equity 402

Equity Lending Banks Development 402

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 bank eliminated 72 mortgage jobs in Iowa across earlier layoffs.

Banks 346

Banks Loan Officer Loans Lending 346

Housing Wire

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. The DOJ also claims that the bank failed to take any meaningful measures to compensate for its lack of physical presence in majority-Black and Hispanic communities. Park National Bank didn’t respond to requests for comment.

Banks 313

Banks Lending Loans Mortgages 313

Housing Wire

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

Lending 364

Lending Equity Technology Banks 364

Housing Wire

JUNE 8, 2022

We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”. The more than six-month delay, FHFA officials said, was due to the development of the pilot transparency program, and the time it took to scrub proprietary information from the plans.

Equity 320

Equity Finance Loans Development 320

Housing Wire

MARCH 27, 2024

Prior to his role with RMF, he was a senior executive in the reverse mortgage division at MetLife Bank , co-founder and co-president of EverBank Reverse Mortgage , and president of BNY Mortgage Co. Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors.

Equity 412

Equity Banks Industrial Mortgages 412

Housing Wire

FEBRUARY 15, 2024

Wisconsin: No proprietary but plenty of opportunity Cullen, who works at University Bank , explained that while he occasionally gets business opportunities from outside Wisconsin , he prefers to remain within his home state since he likes to conduct business face to face as much as possible. Because that’s the biggest fear people have.

Mortgages 355

Mortgages Banks Equity Land 355

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. The Denver-based fintech made its first mergers and acquisition (M&A) deal in May 2023 when it acquired mortgage solutions provider LenderSelect.

Lending 358

Lending Technology Loans Equity 358

Housing Wire

APRIL 4, 2024

The federal judge overseeing a case brought by Texas Capital Bank (TCB) against Ginnie Mae has dismissed a portion of the bank’s complaint against the government-owned company but will allow the majority of the case to progress, according to court filings reviewed by RMD. Presiding Judge Matthew Kacsmaryk ruled in the U.S.

Banks 341

Banks Title Development Equity 341

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. Catherine Cortez Masto (D-NV) and Rep.

Banks 336

Banks Loans Equity Finance 336

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). Meetings will be conducted regularly via conference call. Overall, HELOCS accounted for 20.7%

Equity 281

Equity Lending Finance Loans 281

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 430

Technology Development Title Lending 430

Housing Wire

AUGUST 17, 2023

InstaLend is a tech-enabled real estate loan lender that provides capital to residential developers through streamlined technology and automated workflow, according to its website. We are doing a lot of research and development in it and artificial intelligence,” Slyusarchuk said. Companies that debuted on the Inc. 5000 – 2023

Mortgages 364

Mortgages Loan Officer Fixed-rate mortgage Loans 364

Housing Wire

NOVEMBER 16, 2021

nCino, a publicly traded financial tech company that specializes in cloud banking, said that its decision to purchase Utah-based SimpleNexus is a natural expansion of the company into the point-of-sale mortgage market. banks and credit unions, where nCino currently has over 1,100 customers.”. appeared first on HousingWire.

Banks 375

Banks Technology Equity Development 375

Housing Wire

APRIL 21, 2022

Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . Cooper, he held executive positions at First Horizon National Corporation and Capital Bank. He held roles at Colorado Federal Savings Bank , Provident Funding Associates , UBS Investment Bank and Ally Financial.

Banks 378

Banks Principal Finance Equity 378

Housing Wire

SEPTEMBER 27, 2023

Surveyed professionals also pointed to finding investor clients and have had success with products such as non-qualified mortgages ( non-QM s), down payment assistance programs (DPAs) and home equity line of credits ( HELOC s). About 37% of respondents were spending money in social media and 34.8% in events to garner business.

Mortgages 388

Mortgages Marketing Banks New Construction 388

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 441

Banks Lending Loans Principal 441

Housing Wire

MAY 17, 2022

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. A group of investors led by Ocean Avenue Capital Partners provided equity capital in the transaction. Presented by: DataVerify . Berkery Noyes & Co.

Equity 309

Equity Investor Lending Technology 309

Housing Wire

APRIL 19, 2022

Vesta Equity , another blockchain-enabled marketplace for tokenized home-equity investments. “As The Vesta Equity and Dwellsy investments were made in partnership with Frontiers Capital. The amount of the investments was not revealed.

Equity 351

Equity Technology Investor Residential 351

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. UWM in March also launched a bank statement product for self-employed borrowers and loans for real estate investors.

Mortgages 393

Mortgages Equity Loans Seller concession 393

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Not to be outdone, the U.S.

Equity 91

Equity Title Lending Banks 91

Housing Wire

MAY 24, 2021

COVID19 certainly accelerated development and focus on servicing, coming out of 2019 with record low default and foreclosure.”. In addition to the funding round, Stavvy also announced its alliance with Flagstar Bank , the sixth-largest bank mortgage originator in the country, to provide remote loan modification services.

Land 371

Land Lending Technology Banks 371

Housing Wire

FEBRUARY 11, 2022

Cooper , one of the nation’s top servicers, and Sagent, a loan servicing software developer, announced on Friday that they will join forces to create a cloud-native servicing platform. Meanwhile, Mr. Cooper will receive a minority equity stake in the fintech company.

Technology 331

Technology Development Equity Mortgages 331

Housing Wire

OCTOBER 15, 2021

The development teams inside of a lender’s business can implement the capabilities anyway they like, and configure it to their current digital experience, tech stack, and use case, Bhat explained. They also offer a home equity platform for home equity loan applications and HELOCs under the same umbrella.

Lending 298

Lending Staging Banks Equity 298

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. But in the wake of HUD’s announcement, some lenders have, privately, grumbled that there are not sufficient incentives to develop the programs.

Lending 363

Lending Finance Banks Equity 363

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program. 17, 2024.”

Lending 386

Lending Bankruptcy Mortgages Principal 386

Housing Wire

FEBRUARY 13, 2023

Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. among others. among others.

Mortgages 314

Mortgages Principal Banks Equity 314

Housing Wire

JULY 31, 2022

In anticipation of the shifting market conditions and the expected growth of home equity lending, Wolters Kluwer recently introduced a new solution – OmniVault for Real Estate Finance. This market-leading solution will make hybrid closings and eVaulting easier for real estate assets, including home equity loans.

Lending 318

Lending Equity Technology Banks 318

Housing Wire

SEPTEMBER 1, 2021

Over the last three years, we have accelerated our investment in the development of account and loan origination software,” said Child. The Irvine, California-based fintech firm offers lending tech products to credit unions, banks and independent mortgage banks. He did not offer specifics on what motivated the layoffs.

Lending 346

Lending Technology Banks Loans 346

Housing Wire

MARCH 29, 2024

Anna Frankowska was recognized in 2017 as one of Forbes’ “ 30 Under 30 ” in Europe, having studied economics in London before moving to work in investment banking. But she quickly realized it is facing real challenges, and she began asking why it has not grown and developed to a place it could be. “I

Mortgages 402

Mortgages Finance Loan Officer Equity 402

Housing Wire

JUNE 27, 2023

The list includes potential irregularities regarding the Community Development Financial Institutions ( CDFI ) regulations, specifically a rule requiring lenders to provide annual documentation attesting that 60% of their loans go to the target markets certified by the U.S. ”

Loans 318

Loans Investor Banks Lending 318

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 358

Lending Loan Officer Finance Loans 358

Propmodo

JANUARY 13, 2024

But amid this gloomy outlook, one development firm in the city is contrasting the negative view of the office and finding ways to get offices designed, financed, and completed. GDS Development (GDSNY) was launched in 2007 by architects Michael Kirchmann and Alan Rudikoff. Less than 7.2 So far, GDSNY has completed more than $4.5

Development 57

Development Lending Finance Commercial 57