Housing Wire

MARCH 20, 2024

Reverse mortgage industry veteran Tane Cabe recently left his position at Fairway Independent Mortgage Corp.’s That way, credit unions, banks and other lenders [can use it] to help them get off to a good start.” I love the pursuit of the loan, of key accounts, of builders and real estate groups, that sort of thing.

Development 432

Development Industrial Mortgages Loans 432

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. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023.

Banks 370

Banks Lending Finance Investor 370

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

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

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. The Spanish bank said it will continue to service current loans and honor pending borrowers’ applications. mortgage industry are in the past.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

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 370

Banks Loan Officer Loans Lending 370

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. CCBank, founded in 1993, had nearly $871 million in total assets and $127 million in equity capital at the end of 2023.

Mortgages 431

Mortgages Loan Officer Banks Equity 431

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 As for consolidation, it will be both a tailwind and a headwind for us.

Banks 421

Banks Mortgages Loans Investor 421

Housing Wire

SEPTEMBER 13, 2022

“Mortgage credit availability declined slightly in August, as investors reduced their offerings of ARM and non-QM loan programs,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. The post Lending standards tighten as appetite for riskier loans drops appeared first on HousingWire.

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner? Excellent turn times.

Equity 397

Equity Title Technology Inspection 397

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 410

Industrial Mortgages Loan Officer Banks 410

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 370

Loans Investor Banks Lending 370

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. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

MARCH 27, 2024

Reverse mortgage software and calculator provider Ibis Software announced this week that it appointed Robert Sivori, a reverse mortgage industry veteran, to its board of directors. Department of Housing and Urban Development (HUD)-approved Home Equity Conversion Mortgage (HECM) loan counselors.

Equity 432

Equity Banks Industrial Mortgages 432

Housing Wire

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital rules are applied to banks, according to BofA’s executives. The home equity portfolio was $25.6

Mortgages 419

Mortgages Banks Equity Lending 419

Housing Wire

OCTOBER 11, 2023

PNC Bank issued pink slips to an undisclosed number of employees this week as part of its focus on controlling costs. “As No Worker Adjustment and Retraining Notification (WARN) notices were submitted to the Pennsylvania Department of Labor & Industry. The company reported total consumer loans of $101.8 Of the $101.8

Equity 458

Equity Residential Banks Loans 458

Housing Wire

APRIL 18, 2024

Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. The group will continue under the auspices of Mutual of Omaha, which currently stands as the second-largest lender in the reverse mortgage industry behind Finance of America Reverse (FAR).

Equity 431

Equity Loan Officer Mortgages Industrial 431

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.

Loans 520

Loans Closing Mortgages Equity 520

Housing Wire

NOVEMBER 18, 2022

These trends have exacerbated industry overcapacity, leading to continual layoffs. The resizing of the housing industry will continue as mortgage lenders work to adjust to the new origination environment, said Shampa Bhattacharya, Fitch director of non-bank financial institutions. Presented by: ServiceLink. PenFed originated $5.74

Industrial 421

Industrial Loan Officer Loans Lending 421

Housing Wire

JULY 18, 2023

Bank of America (BofA), a top-20 U.S. mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. But executives at all three banks expect some major regulatory headwinds. BofA had an 11.6%

Mortgages 370

Mortgages Banks Equity Residential 370

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.”. In its plan, Freddie Mac said it would purchase loans made with special purpose credit programs by lenders.

Equity 370

Equity Finance Loans Development 370

Housing Wire

JANUARY 19, 2023

As financial institutions weather this shift in the market, every loan opportunity becomes more critical than the last. The survival tactic lenders too often miss is doubling down on loan quality to ensure immediate salability to investors or long-term servicing performance. Moving to a more robust software system boosted productivity.

Loans 397

Loans Lending Investor Mortgages 397

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. The elevated mortgage rate environment has created a mortgage rate lockdown effect of sorts, limiting the pool of customers for the mortgage industry. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5

Equity 527

Equity Marketing Loans Bankruptcy 527

Housing Wire

FEBRUARY 12, 2024

Loan volume between the third and fourth quarters declined by 21%, but that was far less than the 37% drop from Q3 2022 to Q4 2022, the report showed. Meanwhile, loan volume in the fourth quarter was up by 1% year over year, a significant increase from the annualized decline of 65% in Q4 2022.

Mortgages 479

Mortgages Lending Loans Equity 479

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3%

Loans 397

Loans FHA loan Principal Marketing 397

Housing Wire

OCTOBER 11, 2023

The integration of CoreLogic’s AutomatIQ Borrower Income Analysis, SmartFees and property data into the DMP interface will allow loan officers can obtain crucial information about borrowers and properties at the outset of the process, CoreLogic noted. “By It then tailors that data to the home-buying process.

Mortgages 421

Mortgages Loan Officer Banks Lending 421

Housing Wire

JANUARY 22, 2024

Sagent , a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. and was co-founder and CFO at Capital Bank Financial Corp. His term as executive chairman began on January 19. Marshall joined Sagent’s board under the terms of the transaction.

Technology 419

Technology Banks Equity Mortgages 419

Housing Wire

FEBRUARY 3, 2023

The past few years in the housing industry have been nothing short of unprecedented. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. So, it’s imperative to speak with a lender.

Renovation 384

Renovation Fixed-rate mortgage Equity Finance 384

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. 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.

Mortgages 370

Mortgages Marketing Banks Loans 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

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

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. To the extent that you can get loans off your balance sheet faster, it lowers your financing costs. The BUY+ program provided borrowers a credit equal to 1.5%

Equity 421

Equity Bankruptcy Loans Mortgages 421

Housing Wire

MAY 17, 2022

Mortgage and home equity fintech FirstClose received a $35 million investment from Lateral Investment Management on Tuesday. This is FirstClose’s first institutional equity investment round: The company has been self-funded since its founding in 2000. home equity and mortgage markets. home equity and mortgage markets.

Equity 370

Equity Lending Banks Technology 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). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Equity 368

Equity Lending Finance Loans 368

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “Volumes came in much lighter than industry expectations and margins were also below what we were expecting; we had thought 3Q22 results were trough levels,” they added. .

Mortgages 421

Mortgages Banks Equity Lending 421

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 384

Sales Mortgages Loans Loan Officer 384