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 367

Banks Lending Finance Investor 367

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. decline from the first quarter, and a 9% decline from a year ago, according to Inside Mortgage Finance.

Lending 383

Lending Banks Commercial Finance 383

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 442

Finance Lending Banks Loans 442

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 368

Lending Banks Commercial Loan Officer 368

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 402

Banks Lending Finance Mortgages 402

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%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 462

Equity Lending Banks Loans 462

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending.

Lending 437

Lending Banks Loan Officer Loans 437

Housing Wire

MAY 8, 2024

Nonbank lender Panorama Mortgage Group (PMG) launched a new program that allows first-time homebuyers to take out a loan with a 1% down payment , the company announced on Wednesday. PMG offers platforms for human resources, finance, technology , legal and compliance services to its group of lenders.

Loans 387

Loans Mortgages Lending Branding 387

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 382

Banks Lending Finance Mortgages 382

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. The word “trended” is the source of the “T” in the 10 T name. a competing model that incorporates trended credit bureau data.

Lending 405

Lending Mortgages Loans Banks 405

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 417

Technology Banks Mortgages Equity 417

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. There’s a lot of seasoning behind student loans, and the loans perform extremely well.

Lending 394

Lending Banks Loans Finance 394

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Equity 442

Equity Lending Banks Loans 442

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 411

Banks Lending Loans Finance 411

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 469

Banks Commercial Lending Residential 469

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 446

Banks Mortgages Marketing Lending 446

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. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. University Bank has been around for 130-plus years,” he said.

Banks 437

Banks Mortgages Lending Loan Officer 437

Housing Wire

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 449

Banks Loan Officer Lending Loans 449

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 370

Lending Banks Loans Mortgages 370

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 406

Banks Lending Loan Officer Loans 406

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 521

Lending Finance Mortgages Banks 521

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.

Lending 370

Lending Finance Loans Mortgages 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 406

Lending Principal Finance Loans 406

Housing Wire

MAY 16, 2024

Digital closing provider Snapdocs is partnering with real estate technology provider SitusAMC to integrate the Snapdocs eVault to SitusAMC’s ProMerit platform, a warehouse lending technology tool, the companies announced on Thursday. Flagstar Bank recently announced its exit from the warehouse lending space.

Lending 411

Lending Banks Technology Finance 411

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

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 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 370

Finance Marketing Lending Loans 370

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 395

Lending Finance Banks Mortgages 395

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 residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 417

Banks Mortgages Lending Commercial 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. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. “The

Lending 383

Lending Loan Officer Finance Loans 383

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 501

Loans Debt-to-income ratio Lending Banks 501

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 437

Loans Investor Banks Finance 437

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 405

Banks Bankruptcy Lending Finance 405

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. billion in mortgage loans, down from $12.5 billion in mortgage loans, down from $12.5 Its net margin on locked loans fell to 1.02% from 1.50% in the third quarter.

Lending 378

Lending Mortgages Banks Branding 378

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 Any changes to Enterprise condo project or loan approval requirements should be subject to a public comment period of at least 60 days prior to adoption,” the letter states.

Lending 370

Lending Inspection Development Loans 370

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 446

Banks Mortgages Lending Finance 446

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8 The space remains dominated by depository banks. in 2021 to $433 billion.

Banks 412

Banks Renovation Marketing Lending 412