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.

Development 411

Development Loans Banks Mortgages 411

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 370

Equity Marketing Debt-to-income ratio Lending 370

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 369

Banks Loan Officer Loans Lending 369

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.

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Lending Equity Technology Banks 406

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 366

Banks Lending Loans Mortgages 366

Housing Wire

JUNE 27, 2023

A former high-ranking employee at nonbank The Change Company CDFI (TCC) filed a lawsuit in California accusing the company of retaliation after he notified executives of employees “mischaracterizing loans” to apparently skirt federal reporting requirements. Department of Treasury. ”

Loans 364

Loans Investor Banks Lending 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 364

Equity Finance Loans Development 364

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. The partner smiled. “

Loans 506

Loans Closing Mortgages Equity 506

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 403

Lending Technology Loans Equity 403

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 423

Equity Banks Industrial Mortgages 423

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 368

Banks Loans Equity Finance 368

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). The volume of HELOC loans declined by 17% to $60.1 billion in Q4 2021.

Equity 342

Equity Lending Finance Loans 342

Housing Wire

AUGUST 17, 2023

5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. 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. Zap Mortgage (no.294)

Mortgages 370

Mortgages Loan Officer Fixed-rate mortgage Loans 370

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 393

Banks Title Development Equity 393

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. 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.

Mortgages 393

Mortgages Equity Loans Seller concession 393

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.

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Banks Lending Loans Principal 489

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 441

Technology Development Title Lending 441

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.

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Loans Finance Construction Commercial 108

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. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.

Equity 360

Equity Investor Lending Technology 360

Housing Wire

MAY 18, 2023

Co-issue loan sales, also known as flow-based mortgage servicing rights sales , are three-way transactions involving the sale of loans to one of the agencies, with a simultaneous sale of the MSRs to a separate third party. released a marketplace for co-issue loan sales dubbed BAMCO. In November, Mortgage Capital Trading, Inc.

Loans 368

Loans Banks Mortgages Equity 368

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 420

Banks Technology Equity Development 420

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 419

Lending Bankruptcy Mortgages Principal 419

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 412

Mortgages Marketing Banks New Construction 412

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.

Land 408

Land Lending Technology Banks 408

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. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgages 519

Mortgages Marketing Lending Loans 519

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 393

Banks Principal Finance Equity 393

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. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands.

Lending 381

Lending Loan Officer Finance Loans 381

Housing Wire

SEPTEMBER 1, 2021

CU Direct ’s Origence , which provides mortgage loan tech to lenders, has laid off nearly three dozen workers. Over the last three years, we have accelerated our investment in the development of account and loan origination software,” said Child. A company spokesperson said Origence laid off 34 employees on Aug.

Lending 387

Lending Technology Banks Loans 387

Housing Wire

AUGUST 12, 2020

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Among its dozens of limited partners are major banks, which are the kinds of customers Blend is servicing, Mayopoulus pointed out. Stay tuned for updates.

Loans 488

Loans Banks Loan Officer Branding 488

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% Most industry growth must come from proprietary loans.”

Mortgages 411

Mortgages Seller concession Principal Loans 411

Housing Wire

SEPTEMBER 2, 2022

Those securitized loan pools currently include 375 mortgages on homes owned primarily by minority and low-to-moderate income (LMI) families. In addition, the ETF invests in MBS backed by loan pools sourced from non-traditional loan originators, including Community Development Financial Institutions and minority-owned banks.

Closing 447

Closing Marketing Investor Banks 447

Housing Wire

APRIL 19, 2022

The Mill Valley, California-based REIT operates as a specialty finance house that invests in, acquires and securitizes residential loans. 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.

Equity 380

Equity Technology Investor Residential 380

Housing Wire

FEBRUARY 3, 2021

A Chicago-area real estate developer and two mortgage professionals participated in a mortgage fraud scheme that defrauded banks out of at least $3 million, the U.S. Using Consumer Wire Account Verification Service protects consumers when wiring down payments and allows lenders to process loans safely.

Mortgages 391

Mortgages Loans Banks Lending 391

Housing Wire

AUGUST 28, 2023

on Thursday — funded a loan volume of $1.7 billion across 4,768 loans in the first six months of 2023. In Q2, Better’s origination volume was $900 million across 2,421 loans, compared to production of $800 million across 2,347 loans funded in Q1. Better’s funded loan volume of $1.7 bank – in April 2023.

Purchase and sale agreement 365

Purchase and sale agreement Loans Banks Finance 365

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. loan applications through its current platform. What also sets it apart is that it’s already boosting FI scores,” Bhat said.

Lending 354

Lending Staging Banks Equity 354

Housing Wire

FEBRUARY 16, 2024

A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would nullify any loans originated without proof of such counseling having taken place. The bill is currently awaiting deliberation in the state Senate’s commerce committee. New Jersey State Sen.

Mortgages 431

Mortgages Loans Equity Banks 431