Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 384

Equity Marketing Fixed-rate mortgage Finance 384

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 370

Banks Mortgages Equity Loans 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 residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

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

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 384

Equity Lending Loans Banks 384

Housing Wire

APRIL 16, 2024

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. Loan production in the home equity arena was $1.8 BofA’s mortgage assets Bank of America had $227.7 The home equity portfolio was $25.5 The home equity portfolio was $25.5

Mortgages 421

Mortgages Banks Equity Commercial 421

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

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 billion in mortgages in 2023.

Mortgages 440

Mortgages Banks Marketing Commercial 440

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 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

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

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). Overall, HELOCS accounted for 20.7% level from the first quarter of 2021, ATTOM reported.

Equity 364

Equity Lending Finance Loans 364

Housing Wire

APRIL 4, 2023

Former Bank of America executive Marty Migliara has been tapped to lead the operations in the region. Rithm, a New York-based asset manager, is opening an office in London to seek equity and debt investments across the real estate and consumer finance sectors, the company announced on Monday.

Commercial 382

Commercial Lending Equity Banks 382

Housing Wire

JUNE 29, 2022

The fintech also will offer additional loan products, including home equity lines of credit (HELOCs), new purchase loans and cash-out refinancings. “A Established in 2018, Knox aims to help manage residential rentals with its algorithm-based platform. Prioritizing home equity solutions in a rising rate environment.

Loans 370

Loans Equity Lending Mortgages 370

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 Redwood is not backing away from its venture capital pursuits.

Equity 384

Equity Technology Investor Residential 384

Housing Wire

AUGUST 4, 2021

Depository bank Citi continues to round out its mortgage executive team under the stewardship of Brad Wayman. Louis-headquartered lending operation following a long career at Wells Fargo , the top depository bank by mortgage origination volume in the U.S. The bank funded $33.94 billion in residential mortgages last year.

Mortgages 410

Mortgages Banks Land Lending 410

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Mortgages 397

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. The Federal Housing Finance Agency (FHFA) raised the baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac to $726,000 in November, an increase of 12.21% compared to 2022. RMBS at DBRS Morningstar said in a report.

Marketing 450

Marketing Equity Loans Investor 450

Housing Wire

NOVEMBER 2, 2021

California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. According to the transaction terms, American Equity Investment Life Insurance Company provided financing for the deal and acquired $1 billion of loans originated by Anchor.

Loans 358

Loans Finance Residential Investor 358

Housing Wire

JUNE 22, 2022

UWM’s price-matching guarantee included competitors such as Amerisave, Amwest Funding , NewRez/Caliber Home Loans , Cardinal Financial, Carrington Mortgage Services , Citizen Bank/Franklin American , CMG , Equity Prime Mortgage , Finance of America Mortgage , Flagstar Bank , Freedom Mortgage Corp.,

Loans 432

Loans Loan Officer Banks Mortgages 432

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Rates averaged 5.27% during the same period a year ago. Mortgage rates tend to align with the 10-year U.S.

Mortgages 384

Mortgages Loans Residential Equity 384

Housing Wire

MAY 5, 2022

Homebuyers will have to look elsewhere to secure a mortgage, as the members-only big box store announced it’s no longer in the business of financing homes. The other lenders Costco partnered with include Box Home Loans , Lending.com , Mutual of Omaha Mortgage , NASB , NBKC Bank , Real Genius and Strong Home Mortgage.

Mortgages 370

Mortgages Equity Finance Loans 370

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. in the second quarter from the first quarter to $135 billion, according to Inside Mortgage Finance estimates.

Mortgages 397

Mortgages Equity Loans Seller concession 397

Housing Wire

AUGUST 28, 2023

Better Home & Finance Holding , the digital lender that debuted on Nasdaq last week, reported a net loss of $135.4 Filings show Better completed the acquisition of Birmingham Bank – a regulated U.K bank – in April 2023. The company acquired 100% of the equity of Birmingham for a total consideration of $19.3

Purchase and sale agreement 370

Purchase and sale agreement Loans Banks Finance 370

Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well.

Mortgages 441

Mortgages Banks Loans Industrial 441

Housing Wire

FEBRUARY 3, 2022

Piercy explained that companies, primarily bank and nonbank mortgage originators, have been “stockpiling” MSR assets over the past two years, holding them on their balance sheets and waiting for the right moment to sell them. Piercy added that private equity firms have been particularly active in the MSR market recently.

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

JULY 12, 2021

Trussle’s investors include American bank Goldman Sachs and Amsterdam-based venture capital fund Finch Capital. trillion residential mortgage market. Better eliminates the high financing costs, massive transactional friction, tyranny and mind-numbing bureaucracy that comes with getting a mortgage and buying a home in the U.K.

Brokerage 421

Brokerage Mortgages Loan Officer Banks 421

Housing Wire

SEPTEMBER 14, 2023

“We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” For example, bank regulators in July released a plan to increase capital requirements for residential mortgages, the Basel III Endgame rules. ” Another opportunity is in the home equity space.

Equity 396

Equity Banks Investor Residential 396

Housing Wire

NOVEMBER 17, 2022

The residential appraisal space has been rocked by increased federal scrutiny over the past two years, with several agencies studying whether appraisers let racial bias change their valuations. In late October, the Federal Housing Finance Agency released 47 million appraisal reports to the public for the first time.

Equity 370

Equity Residential Banks Finance 370

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. They are Vesta Equity , Oasis Pro Markets and Liquid Mortgage.

Due diligence 450

Due diligence Mortgages Equity Loans 450

Housing Wire

MAY 4, 2022

UWM’s price-matching guarantee includes the following competitors: Amerisave, Amwest Funding , NewRez/Caliber Home Loans , Cardinal Financial, Carrington Mortgage Services , Citizen Bank/Franklin American , CMG , Equity Prime Mortgage , Finance of America Mortgage , Flagstar Bank , Freedom Mortgage Corp.,

Loans 295

Loans Banks Mortgages Lending 295

Housing Wire

DECEMBER 11, 2020

Johnson joins the executive team from global finance company MSCI , where he served as managing director and president of InvestorForce. Private equity-backed mortgage originator Interfirst Mortgage Company hired Bryan Filkey as its new chief strategy officer.

Lending 396

Lending Equity Development Mortgages 396

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. Agency mortgage-backed securities (MBS) volume also is down significantly for similar rate-driven reasons.

Marketing 370

Marketing Loans Equity Mortgages 370

Eye on Housing

FEBRUARY 10, 2023

According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans.

Loans 122

Loans Loan Officer Commercial Lending 122

Housing Wire

JUNE 6, 2022

Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022. Wells Fargo will be providing severance and career counseling, and helping affected employees identify other positions within the bank.

Mortgages 421

Mortgages Loan Officer Lending Loans 421

Keeping Current Matters

FEBRUARY 9, 2021

During the housing boom in the mid-2000s, there was what Robert Schiller, a fellow at the Yale School of Management’s International Center for Finance , called “ irrational exuberance.” This time, households have plenty of equity. From 2005 through 2007, Americans pulled out $824 billion dollars in equity. Bottom Line.

Equity 287

Equity Mortgages Marketing Residential 287