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 319

Banks Mortgages Equity Loans 319

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Equity 423

Equity Purchase and sale agreement Marketing Lending 423

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day.

Banks 414

Banks Mortgages Loans Investor 414

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 414

Industrial Mortgages Loan Officer Banks 414

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. Stated differently, you are dealing with individuals that may be in an equity prison.

Equity 456

Equity Loans Bankruptcy New Construction 456

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 416

Banks Mortgages Loans Equity 416

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.

Banks 308

Banks Lending Finance Investor 308

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. Top-20 U.S.

Mortgages 365

Mortgages Banks Equity Lending 365

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 364

Equity Lending Loans Banks 364

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 385

Mortgages Banks Equity Land 385

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. As of March 8, according to Commerce Bank , the prime rate was 7.75%.

Equity 361

Equity Marketing Debt-to-income ratio Lending 361

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. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. mortgage lenders, produced $5.2

Mortgages 439

Mortgages Banks Equity Lending 439

Housing Wire

OCTOBER 11, 2023

Leading property data and analytics company CoreLogic ’s newly launched digital mortgage platform (DMP) aims to streamline the mortgage process and improve efficiency for lenders. CoreLogic acquired digital mortgage tech provider Roostify in February. CoreLogic acquired digital mortgage tech provider Roostify in February.

Mortgages 383

Mortgages Loan Officer Banks Lending 383

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 350

Banks Loan Officer Loans Lending 350

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. 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. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30.

Bankruptcy 360

Bankruptcy Banks Finance Lending 360

Housing Wire

DECEMBER 22, 2023

The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. Still, a sluggish to slightly better forecast for 2024 beats the hardscrabble path of retrenchment the industry endured in 2023.

Mortgages 446

Mortgages Banks Loans Industrial 446

Housing Wire

APRIL 8, 2024

The Mortgage Bankers Association (MBA)’s policy advocacy group, the Mortgage Action Alliance (MAA), is urging its members in the state of Massachusetts to support the continued use of remote telephone and video counseling for reverse mortgages in the state following the lapse of an exemption allowing for remote counseling.

Mortgages 340

Mortgages Equity Banks Industrial 340

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 390

Equity Title Technology Inspection 390

Housing Wire

DECEMBER 26, 2023

Kyle Joseph, a specialty finance equity research analyst at Jefferies , believes that the worst of the current mortgage cycle may be behind us, a sentiment shared by most analysts covering this industry. It really sent shockwaves through the industry.” Mortgage rates will moderate down to about 6% to 6.25%.”

Mortgages 512

Mortgages Equity Banks Sales 512

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 307

Mortgages Banks Equity Residential 307

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. Sivori has nearly 30 years of experience in the forward and reverse mortgage spaces.

Equity 443

Equity Banks Industrial Mortgages 443

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 431

Mortgages Finance Loan Officer Equity 431

Housing Wire

FEBRUARY 12, 2024

The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell.

Mortgages 462

Mortgages Lending Loans Equity 462

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 366

Mortgages Banks Equity Residential 366

Housing Wire

APRIL 18, 2024

Its mission statement included a desire to “champion groundbreaking research focused on reverse mortgages.” Shelley Giordano In 2019, the group exited the American College and reformed as the Academy for Home Equity in Financial Planning at the UIUC. That’s what we want to continue to do.”

Equity 395

Equity Loan Officer Mortgages Industrial 395

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 360

Mortgages Title Marketing Lending 360

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. Industry workers didn’t pull back on investing in professional development, with the majority (51%) spending money to reach potential clients. in events to garner business. About 23.7%

Mortgages 420

Mortgages Marketing Banks New Construction 420

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 363

Mortgages Marketing Banks Loans 363

Housing Wire

APRIL 9, 2024

Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. To get a better idea of what motivated the survey and its desire to learn more about reverse mortgages, RMD sat down with WSFS Mortgage President Jeffrey Ruben.

Mortgages 378

Mortgages Equity Banks Brokerage 378

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 392

Mortgages Seller concession Principal Loans 392

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. Beyond that will depend on what happens to rates.”

Mortgages 438

Mortgages Bankruptcy Principal Finance 438

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. This is according to a series of RMD interviews with six reverse mortgage originators from across the U.S., The year’s off to a good start,” he said. “I

Mortgages 415

Mortgages Principal Loans Loan Officer 415

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. How mortgage lenders are qualifying the value of fintech solutions. The company earned $71.8

Mortgages 412

Mortgages Lending Technology Banks 412

Housing Wire

NOVEMBER 18, 2022

Don’t be fooled by last week’s mortgage rate collapse. A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. And don’t expect the layoffs to stop anytime soon.

Industrial 434

Industrial Loan Officer Loans Lending 434

Housing Wire

MARCH 7, 2022

Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. ” Lenders One will be selling purchase, refinance and home equity products at its “store-in-store” branch locations. Neither company offered mortgages.

Mortgages 488

Mortgages Equity Loans Lending 488

Housing Wire

JUNE 1, 2022

Pewaukee, Wisconsin-based lender Waterstone Mortgage Corporation named Paul Garrigues as the company’s new chief financial officer. Garrigues will oversee all corporate accounting functions and provide financial direction for Waterstone Mortgage’s branches nationwide.

Mortgages 352

Mortgages Banks Lending Equity 352

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. PNC is headquartered in Pittsburgh. Of the $101.8

Equity 454

Equity Residential Banks Loans 454