Housing Wire

FEBRUARY 13, 2024

New York-based mortgage lender Logan Finance Corp. as senior vice president of strategic business operations at Stearns Lending , and as vice president of correspondent operations at Nationstar Mortgage. Established in 1949, Logan Finance Corp. Established in 1949, Logan Finance Corp. Logan Finance Corp.

Finance 378

Finance Lending Banks Loans 378

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. For The Roscoe State Bank, Piper Sandler & Co. It funded $5.1

Lending 307

Lending Banks Commercial Loan Officer 307

Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. Western Alliance Bank transformed this model over a decade ago.

Banks 331

Banks Lending Finance Mortgages 331

Housing Wire

DECEMBER 9, 2022

Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank , the company confirmed on Friday. . Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. Bank was the ninth largest U.S.

Banks 335

Banks Lending Finance Mortgages 335

Housing Wire

MARCH 7, 2024

Powell acknowledged the mounting opposition to Basel III from the banking sector, assuring lawmakers of forthcoming broad revisions to the regulatory framework that is aimed at recalibrating risk assessment methodologies and capital reserves. banks to earmark billions more in capital reserves.

Banks 367

Banks Lending Residential Mortgages 367

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. 16 in the most recent rankings.

Equity 436

Equity Lending Banks Loans 436

Housing Wire

MARCH 19, 2024

Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) Mortgage Technology ’s end-to-end mortgage technology ecosystem, the companies announced on Tuesday. That is a common goal we share.

Technology 410

Technology Banks Mortgages Equity 410

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a release. “By

Lending 351

Lending Mortgages Loans Banks 351

Housing Wire

NOVEMBER 7, 2023

In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market.

Banks 423

Banks Mortgages Marketing Lending 423

Housing Wire

APRIL 9, 2021

Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years. Student lending offers an entryway into consumer finance that non-bank originators have not had access to historically.

Lending 348

Lending Banks Loans Finance 348

Housing Wire

MARCH 8, 2024

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. There will be bank failures, but not the big banks.”

Banks 456

Banks Commercial Lending Residential 456

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 400

Banks Mortgages Lending Loan Officer 400

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I It also brings a “reputational risk” when financing large amounts of loans originated from other firms.

Lending 507

Lending Finance Mortgages Banks 507

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported. The CDFI certification is a designation given by the U.S.

Lending 366

Lending Finance Loans Mortgages 366

Housing Wire

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Inside Mortgage Finance first reported news of the layoffs. U.S. Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates.

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 349

Lending Banks Loans Mortgages 349

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 338

Banks Lending Loans Finance 338

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Bank and non-bank lenders are now confronting the urgency to improve their digital experiences to better support home equity lending.

Equity 376

Equity Lending Banks Loans 376

Housing Wire

AUGUST 15, 2022

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. Servicing rights is treated as an asset by banks that generates revenue.

Lending 370

Lending FHA loan Banks Finance 370

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 366

Lending Principal Finance Loans 366

Housing Wire

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 377

Banks Lending Loan Officer Loans 377

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 Over the same six-year period, other banks received nearly 3.5 Patriot Bank denied any allegations of redlining. million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.

Banks 381

Banks Loan Officer Lending Loans 381

Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. The financing arrangement was also dated June 3, 2020. Home Point Financial Corp. million, SEC filings revealed. .

Lending 361

Lending Finance Banks Mortgages 361

Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I A spokesperson for Flagstar Bank did not respond to a request for comments on Thursday.

Banks 450

Banks Mortgages Lending Finance 450

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. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Banks 397

Banks Mortgages Lending Commercial 397

Housing Wire

FEBRUARY 23, 2024

government’s motion to stop the gathering of evidence in a case against Ginnie Mae , Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. Ginnie Mae accordingly implored TCB to lend money to RMF. But TCB was hesitant to lend money to a bankrupt company.

Banks 325

Banks Bankruptcy Lending Finance 325

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 331

Finance Marketing Lending Loans 331

Housing Wire

NOVEMBER 15, 2023

Providence, Rhode Island-based Citizens Bank , the 28th largest U.S. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. However, shrinking mortgage volume caused by high mortgage rates and fiercer competition have challenged the bank’s strategy.

Banks 417

Banks Mortgages Finance Brokerage 417

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Presented by: Selene Finance. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 356

Lending Loan Officer Finance Loans 356

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 356

Banks Closing costs Lending Equity 356

Housing Wire

JUNE 22, 2023

In addition, the groups “request transparency in the process of developing final guidelines for condo and housing cooperative lending requirements.” “Any Senate Banking Committee and the U.S. the letter states. “We The letter was also sent to the U.S. House Financial Services Committee and their staff members.

Lending 341

Lending Inspection Development Loans 341

Housing Wire

JUNE 30, 2022

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 post FGMC owes Customers Bank $25M, bankruptcy filing shows appeared first on HousingWire.

Bankruptcy 357

Bankruptcy Banks Finance Lending 357

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The post FHFA extends relaxed appraisal, lending standards appeared first on HousingWire. 28, 2021.

Lending 540

Lending Loans Inspection Finance 540

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. To that end, the GSEs will accept alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

Lending 485

Lending Inspection Loans Finance 485

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 361

Lending Finance Banks Equity 361

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 369

Finance Lending Mortgages Renovation 369

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. The keys to lending in a post-refi boom world. The post Jim Linnane tapped to lead retail mortgage lending at Flagstar appeared first on HousingWire.

Lending 306

Lending Mortgages Banks Branding 306