Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 407

Sales Banks Principal Loans 407

Housing Wire

OCTOBER 17, 2022

Bank of America delivered increases in revenues and net income in the third quarter of 2022, showing that some of its business lines were not walloped by high levels of inflation and economic contraction. Overall, the bank recorded $7.1 billion in home equity loans. Bank originated $15.6 billion from $2.5

Banks 385

Banks Mortgages Equity Loans 385

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 413

Banks Mortgages Lending Commercial 413

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 382

Equity Pre-approval Loans Finance 382

Housing Wire

JULY 18, 2022

Depositary lender Bank of America ‘s top executives said Monday their customers haven’t slowed down their activities, despite a fear of a recession in the U.S. Bank of America posted a $2.88 billion profit in its consumer banking division in the second quarter, down from a $2.97 Bank of America posted a $2.88

Banks 368

Banks Mortgages Equity Residential 368

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 28, 2022

Even those with a considerable equity stake may find themselves in this dilemma. What can lenders do to help borrowers facilitate a sale, protect the equity in their home, and potentially remain in their home following the sale by negotiating a leaseback option? HW : What are the main benefits of Equity Shield?

Equity 381

Equity Title Banks Title search 381

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

Loans 343

Loans Mortgages Due diligence Banks 343

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 391

Equity Title Technology Inspection 391

Housing Wire

NOVEMBER 16, 2021

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO. Learn about the tools lenders should leverage to streamline home equity title and closing. The loans are serviced by Rushmore Loan Management Services.”.

Equity 387

Equity Investor Marketing Title 387

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 406

Sales Mortgages Principal Equity 406

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 372

Sales Mortgages Loans Loan Officer 372

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. HW: Why are DSCR cash flow, bank statement and second lien mortgages popular right now? Census Bureau.

Debt-to-income ratio 408

Debt-to-income ratio Mortgages Banks Investor 408

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.

Banks 393

Banks Mortgages Loans Equity 393

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.

Investor 344

Investor Sales Mortgages Loan Officer 344

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 420

Mortgages Banks Marketing Commercial 420

Housing Wire

FEBRUARY 28, 2021

Sales Boomerang solve this problem by helping banks, credit unions and independent mortgage lenders build lasting, profitable relationships with their borrowers. Sales Boomerang is the industry’s first automated borrower intelligence system. Our clients retain as high as 65% or more of their past customers.

Sales 378

Sales Equity Loans Lending 378

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 366

Equity Lending Banks Technology 366

Housing Wire

MARCH 12, 2024

Wells Fargo -backed mortgage fintech Maxwell rolled out a point-of-sale (POS) feature that offers tailored workflows and integrations. Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans.

Lending 403

Lending Technology Loans Equity 403

Marco Santarelli

MARCH 19, 2023

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure due to rising interest rates and a high proportion of uninsured deposits. The report titled ‘Monetary Tightening and US Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?'

Banks 145

Banks Title Equity Industrial 145

Housing Wire

JANUARY 22, 2021

At the midpoint of $20 per share, the sale would value Home Point Capital at roughly $3 billion. Technically speaking, Home Point Capital itself is not selling any shares in the offering, though it appears that the firm’s private equity backers, through an affiliate, are cashing out. of voting rights. UWM is valued at $16.1

Sales 239

Sales Equity Loans Banks 239

Housing Wire

FEBRUARY 3, 2022

Incenter Mortgage Advisors was flooded with a surge of mortgage-servicing rights business in January — with bulk MSR sales approaching in one month what the firm normally tallies in an entire year. On average, historically, we’d be selling $100 billion to $125 billion [in MSRs] annually,” Piercy said. “On million to $23.7

Purchase and sale agreement 370

Purchase and sale agreement Marketing Equity Banks 370

Housing Wire

DECEMBER 27, 2022

They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 trillion in the second quarter of 2022, capitalizing on home equity loans and home equity line of credit (HELOC). non-Bank financial institutions at Fitch Ratings.

Equity 523

Equity Marketing Loans Bankruptcy 523

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. million homes for sale, but in 2022 we got as low as 870,000 in total inventory. We have a much better housing ecosystem now for sure.

Loans 543

Loans Banks Equity Closing costs 543

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. And it’s really going to take several years to start seeing more housing activity or existing home sale activity.”

Mortgages 502

Mortgages Equity Banks Sales 502

Housing Wire

NOVEMBER 22, 2021

The challenges that lenders, real estate professionals and communities face as they work to increase homeownership among minorities and promote equity in lending can seem too big to tackle. Robert Hironimus Affordable Lending Sales Manager, Fulton Mortgage. Gabe Del Rio President/CEO, Homeownership Council of America. Get More Info.

Lending 366

Lending Equity Banks Mortgages 366

Housing Wire

JUNE 1, 2022

The executive brings more than 40 years of accounting experience in the financial services, banking and mortgage industries. Before that, he held positions at Midwest Equity Mortgage , Coastal Banking Company and Seacoast National Bank.

Mortgages 376

Mortgages Banks Lending Equity 376

HomeLight

MAY 15, 2024

In February 2024, nearly 30% of all Las Vegas home sales were cash transactions, according to a Las Vegas Realtors report. Las Vegas attracts a variety of cash buyers, from equity-rich Baby Boomers to large investment firms. This marked a 2.6 percentage point increase compared to February 2023. No showings, no repairs, no open houses.

Proof of funds 94

Proof of funds Sales Due diligence Investor 94

Housing Wire

OCTOBER 12, 2023

Total Expert’s customer intelligence identifies a potential customer through home listings , interest rates, home equity and credit pulls, according to the company. California-headquartered Polly is a provider of mortgage capital markets technology for banks, credit unions and mortgage lenders nationwide.

Loan Officer 413

Loan Officer Lending Loans Equity 413

Housing Wire

AUGUST 10, 2023

Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream. Home prices are on the rise again, mortgage rates are over 7% and the lack of existing homes for sale continues to put pressure on first-time homebuyers. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

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

AUGUST 4, 2021

Depository bank Citi continues to round out its mortgage executive team under the stewardship of Brad Wayman. Citi announced this week that it had appointed industry veteran Liz Bryant as the new head of retail mortgage sales for the U.S. Prior to joining Citi, Bryant was national sales manager and an executive vice president.

Mortgages 402

Mortgages Banks Land Lending 402

Housing Wire

FEBRUARY 22, 2023

“CoreLogic has the data assets and workflow platforms to expose critical information about the borrower and collateral much sooner, at the point of sale. CoreLogic, owned by private equity firm Stone Point Capital , has made a few acquisitions in recent years, notably in 2021 when the firm acquired Next Gear Solutions.

Mortgages 378

Mortgages Technology Banks Lending 378

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 411

Mortgages Lending Technology Banks 411

Housing Wire

NOVEMBER 16, 2021

nCino, a publicly traded financial tech company that specializes in cloud banking, said that its decision to purchase Utah-based SimpleNexus is a natural expansion of the company into the point-of-sale mortgage market. banks and credit unions, where nCino currently has over 1,100 customers.”. appeared first on HousingWire.

Banks 420

Banks Technology Equity Development 420

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. For 2023, slightly greater than 1.1

Mortgages 432

Mortgages Banks Loans Industrial 432

Housing Wire

MAY 18, 2023

Co-issue loan sales, also known as flow-based mortgage servicing rights sales , are three-way transactions involving the sale of loans to one of the agencies, with a simultaneous sale of the MSRs to a separate third party. released a marketplace for co-issue loan sales dubbed BAMCO.

Loans 368

Loans Banks Mortgages Equity 368