Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. The bonds are secured by “long-term, low-rate” loans made primarily to developers of low-income multifamily apartment complexes.

Banks 389

Banks Mortgages Loans Investor 389

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 378

Banks Loan Officer Lending Loans 378

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 355

Banks Mortgages Technology Branding 355

Housing Wire

APRIL 19, 2024

Department of Housing and Urban Development (HUD) and Ginnie Mae largely deny any allegations made against the company in the original complaint. Ultimately, Ginnie Mae is again seeking to have the bulk of the claims made by the bank dismissed, but presiding Judge Matthew Kacsmaryk of the U.S. Attorneys for the U.S.

Banks 374

Banks Title Equity Development 374

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 380

Development Loans Banks Mortgages 380

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 337

Banks Lending Loans Finance 337

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change is a community development financial institution (CDFI) that is certified by the U.S. Last year, Change Lending ranked as the top nonqualified mortgage (non-QM) originator, posting $4.1

Lending 356

Lending Banks Loans Renovation 356

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program.

Banks 324

Banks Bankruptcy Lending Finance 324

Housing Wire

JUNE 15, 2023

Guild Mortgage announced on Thursday the appointment of Lamont Watson as the company’s first vice president of diverse talent development. Improving talent development processes, including mentorship and career advancement opportunities, will be a key priority to attract and retain diverse talent, the company said.

Development 303

Development Loan Officer Banks Mortgages 303

Housing Wire

JUNE 6, 2023

Cenlar FSB , the second-largest mortgage servicer and largest subservicer in the U.S., announced on Tuesday the promotion of two leaders in its wholesale bank division. With over 25 years of experience in portfolio management, he brings to the role an extensive expertise in default mortgage servicing. territories.

Banks 320

Banks Mortgages Development Loans 320

Housing Wire

MAY 15, 2024

From 2010 to 2024, the reverse mortgage industry sought to allow remote reverse mortgage counseling in the state of Massachusetts, citing an insufficient number of actual counselors and logistical challenges for senior clients. Sponsored primarily by then-Sen. Logistically difficult’ Industry reactions at the time were swift.

Mortgages 358

Mortgages Banks Industrial Loans 358

Housing Wire

AUGUST 5, 2022

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Those agencies oversee banks, and are tasked with ensuring banks do not redline , by enforcing the Community Reinvestment Act.

Banks 396

Banks Debt-to-income ratio Lending Loans 396

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 lender’s guide to surviving this mortgage market. As the U.S. Presented by: HCL America.

Banks 349

Banks Loan Officer Loans Lending 349

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 319

Mortgages Finance Development Banks 319

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 382

Banks Lending Mortgages Commercial 382

Housing Wire

MAY 3, 2024

A bill that will permanently allow for remote reverse mortgage counseling via telephone or video conferencing services in the state of Massachusetts has been signed into law by Gov. Department of Housing and Urban Development (HUD)-approved reverse mortgage counselors being active in the state, among other issues.

Mortgages 388

Mortgages Banks As-is Development 388

Housing Wire

MARCH 11, 2024

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. is a software development company that offers a digital loan origination system and POS for the mortgage industry. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 377

Mortgages Loan Officer Loans Banks 377

Housing Wire

MAY 10, 2024

The Consumer Financial Protection Bureau (CFPB) and Freedom Mortgage were handed minor setbacks by the presiding and magistrate judges, respectively, in a case that the regulator brought in widespread violations in its 2020 submission of Home Mortgage Disclosure Act (HMDA) data. The original case was filed in the U.S.

Mortgages 326

Mortgages Banks Development Loans 326

Housing Wire

FEBRUARY 15, 2024

Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024 for their businesses.

Mortgages 353

Mortgages Banks Equity Land 353

Housing Wire

JANUARY 31, 2024

Dark Matter Technologies (DMT) tapped Tony Fox, former director of ICE Mortgage Technology , as its new chief of client engagement. Fox was director of client management at I CE Mortgage Technology for four months after the firm acquired Black Knight in September 2023. He will report to Sean Dugan, chief revenue officer at DMT.

Mortgages 384

Mortgages Technology Banks Development 384

Housing Wire

AUGUST 30, 2021

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 The bank, based in Texas, also has branches in Alabama, Florida, Georgia and Tennessee. Specifically, Cadence will provide $4.17

Banks 386

Banks Lending Loan Officer Loans 386

Housing Wire

MARCH 8, 2023

Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2015 to 2021.

Banks 315

Banks Lending Loans Mortgages 315

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). . Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers.

Banks 326

Banks Lending Loans Mortgages 326

Housing Wire

APRIL 6, 2021

Truliant Federal Credit Union is the first Southeast financial institution to officially complete a transfer of an eNote – or an electronic promissory note – to Federal Home Loan Bank of Atlanta (FHLBank Atlanta), as part of FHLBank Atlanta’s eNote pilot program, the lender said Tuesday.

Banks 244

Banks Mortgages Loans Closing 244

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier. The Fed next meets on Jan.

Fixed-rate mortgage 527

Fixed-rate mortgage Mortgages New Construction Construction 527

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 has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. JPMorgan Chase and U.S.

Mortgages 380

Mortgages Banks Lending Residential 380

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 333

Mortgages Banks Marketing Residential 333

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. The post How student lending can benefit non-bank lenders appeared first on HousingWire.

Lending 349

Lending Banks Loans Finance 349

Housing Wire

JANUARY 19, 2023

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. The mortgage lender hopes to boost volume in the channel. The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans.

Mortgages 358

Mortgages Loan Officer Lending Banks 358

Housing Wire

FEBRUARY 28, 2024

mortgage lender Fairway Independent Mortgage Corp. Fairway promptly implemented the patch after it was released by the developer to rectify the newly identified vulnerability,” Ramsey wrote. Mortgage executives recently told HousingWire that these attacks have put the industry in “alert mode.” Top 10 U.S.

Mortgages 343

Mortgages Banks Development Industrial 343

Housing Wire

MARCH 29, 2023

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. The 10-year U.S.

Mortgages 398

Mortgages Pre-approval Banks Loan Officer 398

Housing Wire

AUGUST 28, 2020

Gateway First Bank officially named Scott Gesell CEO and general counsel after serving as CEO on an interim basis since April 3. Before being named CEO, he was chief administrative officer and general counsel for the bank and has also held senior roles at Colorado National Bancorp , American Residential Communities and First Nationwide Bank.

Banks 233

Banks Mortgages Technology Residential 233

Housing Wire

APRIL 5, 2024

Reverse mortgage professionals in Massachusetts will be reliant on their borrowers’ ability to complete their required counseling sessions under the state’s face-to-face mandate following the expiration of a provision temporarily relaxing the standard that expired on April 1. So, I feel a measure of confidence in that regard.

Mortgages 363

Mortgages Banks Industrial Development 363

Inman

JANUARY 31, 2023

Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket’s digital mortgage application using a new platform developed by Q2 Software.

Banks 125

Banks Mortgages Development 125

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Zap Mortgage (no.294) The companies are U.S.-based, Trius Lending Partners (no.678),

Mortgages 365

Mortgages Loan Officer Fixed-rate mortgage Loans 365

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. Personal ties Frankowska explained that her journey into the reverse mortgage sphere was primarily motivated by what she observed her parents going through as they got older. “My

Mortgages 397

Mortgages Finance Loan Officer Equity 397

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank will cut 11 jobs in July and 114 in August, according to Worker Adjustment and Retraining Notification (WARN) notices submitted to the Iowa Workforce Development.

Mortgages 404

Mortgages Lending Banks Industrial 404