Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 398

Banks Loan Officer Lending Loans 398

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 345

Finance Marketing Lending Loans 345

Housing Wire

JANUARY 11, 2023

In its 3rd year, the HW Finance Leaders award is celebrating the industry’s top finance executives who have muscled through another unprecedented year in housing and helped their organizations come out on top. So what does it take to be among the HW Finance Leaders? Click here for more details on eligibility.

Finance 361

Finance Banks Brokerage Closing 361

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 396

Development Loans Banks Mortgages 396

Housing Wire

FEBRUARY 8, 2024

To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved in the reverse mortgage business for the first time since the early 2010s. national bank, a large bank [that is considering entering] reverse.

Banks 371

Banks Mortgages Technology Branding 371

Housing Wire

JANUARY 11, 2022

Unlike other HousingWire awards, Finance Leaders focuses specifically on corporate finance, secondary marketing, capital markets or strategic finance executives within mortgage banking or a real estate brokerage only. The post Nominations for HousingWire’s Finance Leaders award are now open!

Finance 355

Finance Residential Title Mortgages 355

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. The space remains dominated by depository banks. in 2021 to $433 billion.

Banks 359

Banks Renovation Marketing Lending 359

Housing Wire

MAY 3, 2021

HousingWire’s Finance Leader award recognizes outstanding performers in the finance space. Those rates resulted in record-setting volume for real estate and mortgage companies, and a whole new set of challenges for their finance leaders. The following pages honor HousingWire’s first class of housing finance heavy hitters.

Finance 397

Finance Lending Title Mortgages 397

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 348

Finance Equity Mortgages Principal 348

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. Bank OZK has humble roots. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

APRIL 9, 2021

Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years. Student lending offers an entryway into consumer finance that non-bank originators have not had access to historically.

Lending 363

Lending Banks Loans Finance 363

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Many community banks do a great job of mortgage lending to underserved homebuyers. So why would we extend it to IMBs?

Banks 336

Banks Lending Loans Mortgages 336

Housing Wire

APRIL 10, 2024

The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have signed onto a memorandum of understanding to formally share information between each other related to nonbank mortgage companies. Department of Housing and Urban Development (HUD) in 2013.

Mortgages 336

Mortgages Finance Development Banks 336

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 434

Loans Investor Banks Finance 434

Housing Wire

SEPTEMBER 12, 2023

Broeksmit also touched on agency-focused policy work, citing the cancelation of a controversial Federal Housing Finance Agency (FHFA) policy that would have imposed a controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios. MBA is also keeping an eye on a developing case before the U.S.

Industrial 396

Industrial Banks Finance Commercial 396

Housing Wire

FEBRUARY 12, 2024

Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. residential mortgage market and housing-related assets.

Lending 356

Lending New Construction Construction Finance 356

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA).

Loan Officer 361

Loan Officer Loans Banks Title 361

Housing Wire

MARCH 5, 2024

The third provision is an extension of the support from the Federal Financing Bank (FFB) for “a risk-sharing initiative between the U.S. Department of Housing and Urban Development (HUD) and state and local housing finance agencies,” according to the announcement.

Construction 450

Construction Finance Land Design 450

Housing Wire

OCTOBER 5, 2023

“…These [rated offerings] can start to bring in investors like insurance companies, money managers with mutual funds that have ratings constraints, investment banks … [and more], which will provide better financing on rated bonds.” Unlike banks and credit unions, nonbanks can’t hold these [home equity] loans on their balance sheets. …

Equity 403

Equity Purchase and sale agreement Marketing Lending 403

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. My parents are retired, and putting my entrepreneurial and finance hats on, I just got to see challenges they face and conversations they’ve had,” she said.

Mortgages 416

Mortgages Finance Loan Officer Equity 416

Housing Wire

FEBRUARY 27, 2024

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. But before diving back in headfirst, it would be worthwhile for lenders to think through what the last two years of scarcity reveal about the normal working model of an independent mortgage bank (IMB).

Finance 407

Finance Technology Loans Industrial 407

Housing Wire

APRIL 9, 2024

In the meantime, Rocket developed its patented platform, which the lender claims relies on more than 10 petabytes of proprietary data, 50 million annual call transcripts, deep learning, and generative AI systems. With AI, Rocket can get loans off the balance sheet faster, lowering financing costs. “So,

Loans 412

Loans Technology Mortgages Finance 412

Housing Wire

APRIL 13, 2022

Rocket, the top lender in the country with $351 billion originated in 2021, according to Inside Mortgage Finance, has perhaps invested more than any other lender in America on mortgage tech over the last decade. Bank Home Mortgage. Bank Home Mortgage is the 10th-largest lender in the U.S. The Minnesota-based U.S.

Mortgages 391

Mortgages Banks Technology Finance 391

Housing Wire

SEPTEMBER 11, 2023

Meanwhile, Greenberg was promoted to senior vice president of finance where he will oversee investor relations, financial planning, analysis, data analytics and treasury.

Investor 356

Investor Finance Banks Industrial 356

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi was the 19th-largest residential mortgage lender in America by origination volume in the first half of the year, according to a data analysis by Inside Mortgage Finance.

Mortgages 384

Mortgages Banks Lending Residential 384

Housing Wire

JULY 13, 2023

Newfi is leading the way in terms of innovation and service for these originations,” Dan Bayer, SVP of non-QM development and strategy, said in a statement. and from Q1 2022’s 22.1%, according to Inside Mortgage Finance data. “Non-QM product offerings are critical to any mortgage bankers’ offerings in today’s market.

Lending 358

Lending Banks Loans Mortgages 358

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 438

Technology Development Title Lending 438

Housing Wire

SEPTEMBER 10, 2022

Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. Only recently have mortgage lenders felt comfortable moving forward with special purpose credit programs.

Loans 421

Loans Closing costs Development Finance 421

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 348

Banks Loans Equity Finance 348

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 342

Mortgages Banks Marketing Residential 342

Housing Wire

APRIL 18, 2024

In a newly released trends report, FinCEN highlighted more than $27 billion worth of “suspicious activity” across more than 155,000 filings of Bank Secrecy Act (BSA) data with FinCEN between June 15, 2022 and June 15, 2023. Department of the Treasury , is sounding the alarm over challenges faced by elder financial exploitation (EFE).

Banks 439

Banks Development Mortgages As-is 439

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 455

Banks Lending Loans Principal 455

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 386

Banks Principal Finance Equity 386

Housing Wire

SEPTEMBER 27, 2022

The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. The Des Moines metropolitan area is the headquarters for the bank’s home mortgage division. billion in volume , according to Inside Mortgage Finance. As the U.S.

FHA loan 361

FHA loan Lending Banks Finance 361

Housing Wire

JULY 17, 2023

The continuous development of loss mitigation tools and practices in the mortgage industry will play an essential part in preventing future foreclosures, but additional safety nets — particularly for those mortgage customers who belong to historically disadvantaged populations — will play a critical role in thinning the racial wealth gap.

Mortgages 351

Mortgages Finance Development Staging 351

Housing Wire

AUGUST 23, 2022

The Federal Housing Finance Agency (FHFA) on Tuesday announced its plan to establish a federal advisory committee on affordable, equitable, and sustainable housing. The committee, whose members have not yet been selected, will focus on the FHFA’s regulated entities, Fannie Mae , Freddie Mac and the Federal Home Loan Banks.

Lending 370

Lending Finance Banks Development 370

Housing Wire

JANUARY 27, 2022

Can allegations of redlining sink a bank merger? The merger will create a bank with $45.8 The new organization will be the sixth-largest bank headquartered in the Midwest, Old National said when it announced the transaction. alleging that the bank carried out redlining in its mortgage lending practices.

Banks 376

Banks Loans Lending Development 376