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

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

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

MARCH 20, 2024

Figure Technology Solutions will focus on developing and distributing its proprietary, technology-enabled platform to partners and investors in the home equity lending ecosystem, the fintech firm announced earlier this week. JP Morgan Chase & Co. and Jefferies Financial Group Inc. — to take its lending division, LendCo , public.

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Lending Equity Technology Banks 421

Housing Wire

SEPTEMBER 26, 2023

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. “[Our goal is ] Having a unified platform that can serve all the products that a bank can offer.

Banks 421

Banks Mortgages Loans Investor 421

Housing Wire

DECEMBER 12, 2022

I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. Figure Acquisition Corp. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV.

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Banks Mortgages Due diligence Technology 410

Housing Wire

FEBRUARY 28, 2024

Specific factors include higher debt-to-income ratios, self-employed borrowers who can’t qualify using tax returns, less than seven years out of a credit event such as a foreclosure, or real estate investors with more than 10 properties. There are high income and high-net-worth self-employed borrowers and real estate investors in every town.

Debt-to-income ratio 431

Debt-to-income ratio Mortgages Banks Investor 431

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. Cangemi said in a statement that the bank’s deposit ratings remain “investment grade” at other credit rating agencies.

Mortgages 441

Mortgages Banks Marketing Commercial 441

Housing Wire

JUNE 24, 2021

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. Led by venture capitalist firm Signal Fire as well as existing seed investors Y Combinator and DN Capital , Accept.inc said it plans to use the funding to scale its platform, double its team size and enter new markets.

Equity 397

Equity Proof of funds Pre-approval Investor 397

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

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Investor Sales Mortgages Loan Officer 381

Housing Wire

FEBRUARY 15, 2024

Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio. So we’ll look for him to leverage his relationships into access to investors. Shant has an incredible network. That’ll be a big part.

Loan Officer 409

Loan Officer Commercial Investor Banks 409

Housing Wire

JULY 12, 2023

The collaboration with several of the country’s top independent mortgage banks is aimed at getting Figure’s home equity line of credit ( HELOC ) products in front of homeowners who have seen equity grow in recent years. Figure recently eclipsed over $6 billion in HELOC originations, the company said.

Equity 370

Equity Lending Technology Loans 370

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. In terms of dollar volume, there was an estimated $251 billion in HELOC originations during all of 2022, up from $182 billion in 2021.

Lending 370

Lending Technology Pre-approval Equity 370

Housing Wire

JULY 31, 2023

million in revenue, according to a letter from Cagney to investors and partners in July. Founded in 2018 by Cagney, the former head of SoFi , Figure uses proprietary platform Provenance Blockchain for loan origination, equity management, private fund services, banking and payments.

Lending 370

Lending Equity Banks Loans 370

Housing Wire

DECEMBER 14, 2023

The seed funding round was led by Zigg Capital with participation from Y Combinator , its initial investor Antler , Exceptional Capital and others. As banks and lenders create new programs to address this gap, Stairs plans to incorporate them into their platform and help educate homebuyers on their advantages.

Equity 409

Equity Technology Mortgages Banks 409

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. billion in 2022 from last year’s $4.4 trillion in the previous quarter.

Lending 370

Lending Loans Equity Mortgages 370

Housing Wire

FEBRUARY 23, 2024

Despite reporting a GAAP net loss of $390 million in 2023, investors seem to be sold on the company’s path towards Rocket’s “AI-fueled homeownership strategy,” a phrase repeatedly used by executives in a fourth-quarter earnings call on Thursday. AI driving productivity across the board The bottom line as to why Rocket is pushing hard on AI?

Equity 421

Equity Bankruptcy Loans Mortgages 421

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand.

Loans 544

Loans Banks Equity Closing costs 544

Housing Wire

JUNE 27, 2023

The lawsuit cites potential securities fraud when investors are induced to purchase the lender’s loans in the secondary market based on the false representations on the borrowers’ profiles. The plaintiff claims he was terminated weeks later without bonus wages and equity compensation that he was “rightfully owned.”

Loans 370

Loans Investor Banks Lending 370

Housing Wire

AUGUST 16, 2022

Blue Water provides asset valuation, MSR distribution, MSR hedging and digital solutions to MSR investors and mortgage lenders. ” Blue Water is controlled by Rice Park Capital Management , a private equity firm headquartered in Minneapolis. .” Qureshi will continue to lead Blue Water following the acquisition, Voxtur said.

Technology 383

Technology Equity Investor Construction 383

Housing Wire

APRIL 19, 2022

At an investor conference last fall, Redwood Trust Inc. Vesta Equity , another blockchain-enabled marketplace for tokenized home-equity investments. “As The Vesta Equity and Dwellsy investments were made in partnership with Frontiers Capital. The amount of the investments was not revealed.

Equity 384

Equity Technology Investor Residential 384

Housing Wire

MAY 17, 2022

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. Founded in 2000, Irvine, California-based Inco-Check leverages its proprietary web-based platform to support GSE, regulatory agency, and investor requirements.

Equity 370

Equity Investor Lending Technology 370

Housing Wire

JANUARY 5, 2023

Interest rate stability offers the best environment for MBS performance, and inflation reduces the demand that investors have for mortgage-backed bonds. This, in turn, led to a drop in collateral that was available to support securitizations in both the agency and non-agency secondary markets. RMBS at DBRS Morningstar said in a report.

Marketing 450

Marketing Equity Loans Investor 450

Housing Wire

FEBRUARY 22, 2023

It landed a $32 million Series C funding round in 2021, which was led by Ten Coves Capital , with returning investors Cota Capital, Mouro Capital , Colchis Capital , Point72 Ventures, and JPMorgan Chase. It then tailors that data to the home-buying process.

Mortgages 384

Mortgages Technology Banks Lending 384

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. The announcement comes shortly after MeridianLink, which is owned by private equity giant Thoma Bravo , posted its quarterly earnings results.

Mortgages 421

Mortgages Lending Technology Banks 421

Housing Wire

MARCH 9, 2023

LoanCare , which services loans for banks, credit unions, independent mortgage companies and portfolio investors, also renewed its contract for Black Knight’s mortgage service software MSP, which includes the system’s abilities to integrate with technologies and data, regulatory updates, and client-owned data protection.

Investor 370

Investor Loans Equity Mortgages 370

Housing Wire

MAY 15, 2023

Researchers at the Federal Reserve Bank of New York estimate the size of this boom in a new report. When broken down by investor type, 38% of U.S. Nine million borrowers refinanced their loans without equity extraction, with an aggregate decrease of $24 billion annually. ”

Equity 384

Equity Loans Mortgages Banks 384

Housing Wire

SEPTEMBER 27, 2023

Surveyed professionals also pointed to finding investor clients and have had success with products such as non-qualified mortgages ( non-QM s), down payment assistance programs (DPAs) and home equity line of credits ( HELOC s).

Mortgages 421

Mortgages Marketing Banks New Construction 421

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

AUGUST 17, 2022

EagleBank , one of the largest community banks in metro Washington, D.C., Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc.,

Lending 384

Lending Banks Loans Investor 384

Realty Biz

SEPTEMBER 19, 2023

For the past six years, Stratton Equities has been at the forefront as the nation's top private money and NON-QM mortgage lender, setting the pace for other companies to follow. Stratton Equities saw the potential of NON-QM loans six years ago and positioned themselves as pioneers in private money lending, specifically for NON-QM mortgages.

Equity 84

Equity Mortgages Lending Loans 84

Realty Biz

SEPTEMBER 14, 2022

If you’ve ever purchased a home, you’re probably familiar with the term “equity” and what it means. When it comes to buying a house, your down payment is the initial equity you have in the property. The rest is financed through your loan with a bank, which you slowly pay off over time. . How Does Preferred Equity Work?

Equity 93

Equity Commercial Investor Finance 93

Housing Wire

JULY 15, 2022

Canada’s central bank Bank of Canada raised interest rates by a full percentage point on Wednesday to 2.5%, marking the largest one-time increase since 1998. According to economists at the Canadian Real Estate Association , home sales are projected to fall by about 15% this year and an additional 2.8%

Brokerage 410

Brokerage Mortgages Banks Lending 410

Housing Wire

AUGUST 27, 2020

Federal Reserve Chairman Jerome Powell on Thursday announced a major shift in monetary policy that will allow the central bank to use inflation averaging, rather than the current practice of setting a hard target. Inflation fears also boost yields on Treasuries, which are used as a benchmark for MBS investors.

Mortgages 496

Mortgages Banks Investor Lending 496

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. UWM in March also launched a bank statement product for self-employed borrowers and loans for real estate investors.

Mortgages 397

Mortgages Equity Loans Seller concession 397

Housing Wire

SEPTEMBER 14, 2023

Real estate investment trust Redwood was founded in the early 1990s as the need for more private investors in the mortgage market grew. “We would partner with banks to buy their loans and securitize them so the banks could recycle their capital.” ” Another opportunity is in the home equity space. .”

Equity 397

Equity Banks Investor Residential 397

Housing Wire

AUGUST 13, 2021

Co-led by Tiger Global Management and Caffeinated Capital , Divvy’s latest round raised $200 million in equity, Divvy CEO Adena Hefets told Bloomberg. Despite historically-low mortgage rates in the face of the COVID-19 pandemic, many banks began tightening underwriting requirements for approvals.

Pre-qualification 410

Pre-qualification Pre-approval Equity Finance 410