Housing Wire

SEPTEMBER 26, 2023

The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA’s Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation),” the entry reads.

Equity 417

Equity Mortgages Banks Loans 417

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. Ally is considering expanding the program to more markets in the future. “By

Banks 420

Banks Closing costs Lending Equity 420

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. Tappable home equity is expected to decrease to a forecasted $18.1 However, given that home-equity originations were less than $0.5

Equity 381

Equity Lending Title search Title 381

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic. The bank had $1.7

Banks 361

Banks Lending Finance Investor 361

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 383

Equity Lending Loans Banks 383

Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. Equity Unlocker is currently available in Florida, New York and Washington state.

Equity 384

Equity Pre-approval Loans Finance 384

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 30 to $4.20

Mortgages 433

Mortgages Banks Marketing Commercial 433

Housing Wire

JUNE 30, 2022

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. Daiwa Capital Markets America Inc., $1.4 Morgan Stanley & Co. LLC , $965,803. Sourcepoint Inc.,

Bankruptcy 370

Bankruptcy Banks Finance Lending 370

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The home equity loans balance was $24.7 The residential mortgage loan balance for First Internet was $383.9

Banks 421

Banks Mortgages Lending Commercial 421

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 384

Equity Loans Lending Banks 384

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. First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership.

Finance 369

Finance Equity Mortgages Principal 369

Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived.

Equity 417

Equity Lending Closing costs Mortgages 417

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We It’s the first time that we’re now sharing free cash flow targets.

Banks 420

Banks Mortgages Loans Investor 420

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

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending.

Lending 441

Lending Banks Loan Officer Loans 441

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? By September, a full-fledged housing market recession had set in. The 2002 housing market has been a tale of two halves,” said Green. A mortgage rate lockdown freezes the housing market.

Equity 526

Equity Marketing Loans Bankruptcy 526

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. Purchase loans are simply harder to market and convert, harder to process, and they generate lower revenues and higher expenses.”.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 402

Marketing Principal Banks Loans 402

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. We do hope the GSEs start exercising market leadership [on special purpose credit programs],” a FHFA official said on a press call today.

Equity 367

Equity Finance Loans Development 367

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. The firm specializes in asset-backed credit, whole loans and private equity. There likely will be 40 to 50 deals done this year.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. Major factors that will shape the RMBS market include a dramatic reduction in origination volume and mortgage lenders exiting the business , according to a report from DBRS Morningstar on the outlook of the industry. .

Marketing 449

Marketing Equity Loans Investor 449

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. So, it’s imperative to speak with a lender.

Renovation 384

Renovation Fixed-rate mortgage Equity Finance 384

Housing Wire

FEBRUARY 3, 2022

Denver-based Incenter’s managing director, Tom Pierc y, said he expects the rising tide of business to continue for the foreseeable future, so long as the housing market is swept up in a rising-rate environment — prompting holders of MSRs to sell the assets. And now we just did over $110 billion for the month of January.”. million to $23.7

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

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 453

Mortgages Finance Loan Officer Equity 453

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). in events to garner business. were from the Northeast 16.3%

Mortgages 420

Mortgages Marketing Banks New Construction 420

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. Profitability may resemble the market in 2018 , when around one-third of nonbank lenders failed to turn a profit.

Mortgages 522

Mortgages Marketing Lending Loans 522

Housing Wire

JANUARY 10, 2023

Bank executives reportedly expressed concerns about “reputational risk” when financing large amounts of loans originated from other firms. As the largest bank lender to Black and Hispanic families for the last decade, we remain deeply committed to advancing racial equity in homeownership.”.

Closing 485

Closing Lending Banks Equity 485

Housing Wire

FEBRUARY 23, 2024

per share at market open on Friday, up from $10.98 per share at market close the day before. The three areas in which AI is driving impact are mortgage banking, underwriting and servicing, Rocket CEO Varun Krishna shared with analysts during the latest earnings call. Rocket’s stock price rose to $11.75

Equity 420

Equity Bankruptcy Loans Mortgages 420

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Banks 370

Banks Lending Commercial Loans 370

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 370

Mortgages Banks Equity Residential 370

Housing Wire

APRIL 22, 2022

Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. Blend claims it grew its mortgage market share from 10% in 2020 to 15% in 2021.

Mortgages 397

Mortgages Marketing Title Banks 397

Housing Wire

FEBRUARY 22, 2023

The residential mortgage-backed securities (RMBS) market took a beating in 2022, nearly stalling as the year came to an end — on the heels of interest rates jumping more than 3 percentage points over the first half of 2022. As we turn the corner into 2023, however, the landscape so far looks brighter for the RMBS market.

Marketing 366

Marketing Loans Equity Mortgages 366

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 104

Equity Finance Loans Closing costs 104

Housing Wire

SEPTEMBER 27, 2023

Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. However, the bank denies the allegations.

Banks 430

Banks Lending Loan Officer Equity 430

Propmodo

OCTOBER 3, 2023

In today’s topsy-turvy commercial real estate market, getting a loan with favorable terms seems like an impossible dream. Banks, keen to reduce their risk, have tightened up lending, enacting stricter standards for potential borrowers to meet. Green finance has seen record growth in recent years. according to Forrester Research.

Finance 47

Finance Banks Lending Commercial 47

Housing Wire

APRIL 17, 2024

Mike Braun (R) to Ginnie Mae President Alanna McCargo about concerns related to the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, McCargo’s predecessor, Ted Tozer, hopes the senator will dive deeper into the program’s mechanics and what led to the collapse of Reverse Mortgage Funding (RMF). “By

Mortgages 401

Mortgages Equity Loans Banks 401

Housing Wire

JANUARY 17, 2023

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say.

Marketing 450

Marketing Banks Loans Mortgages 450