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.

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Lending Banks Commercial Finance 383

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

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.

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Lending Banks Technology Finance 266

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We It’s the first time that we’re now sharing free cash flow targets.

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Banks Mortgages Loans Investor 417

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

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The data compromised included “names, addresses, phone numbers, dates of birth, social Security numbers, passport numbers, driver’s license numbers, credit card information, bank account information and/or medical or insurance information,” the lawsuit says.

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Loans Technology Lending Banks 370

Housing Wire

FEBRUARY 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%

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Technology Sales Mortgages Lending 383

Housing Wire

SEPTEMBER 5, 2023

I sat down with Tim Bowler, president of ICE Mortgage Technology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night. SW: ICE Mortgage Technology is known for its focus on automation. Sarah Wheeler: ICE’s acquisition of Black Knight just closed today.

Technology 395

Technology Mortgages Loans Industrial 395

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

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Loans Technology Mortgages Finance 461

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% Government data from HMDA shows borrowers are saving, on average, over $9,400 over the life of a loan. Second, nearly 20,000 loan officers moved into the wholesale channel in 2023.

Industrial 446

Industrial Loan Officer Marketing Loans 446

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. These individuals also received inbound calls from individuals interested in obtaining mortgage loans, the order stated.

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Loan Officer Loans Banks Title 406

Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

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Banks Commercial Loans Technology 105

Housing Wire

MAY 13, 2024

In addition, nonbanks represent seven of the 10 largest servicers of Fannie Mae , Freddie Mac and Ginnie Mae loans. The FSOC report, released on Friday, states that these companies quickly adapt their operations to market conditions, are early adopters of technology and are key for underserved borrower groups.

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Bankruptcy Finance Mortgages Banks 446

Housing Wire

JANUARY 19, 2023

As financial institutions weather this shift in the market, every loan opportunity becomes more critical than the last. The survival tactic lenders too often miss is doubling down on loan quality to ensure immediate salability to investors or long-term servicing performance. Moving to a more robust software system boosted productivity.

Loans 395

Loans Lending Investor Mortgages 395

Housing Wire

OCTOBER 26, 2020

Technology plays a crucial role in servicers’ ability of servicers to support their borrowers in this challenging time. In all cases, Sagent Account Connect enables servicers to let their borrowers manage these hardship changes to their loans in real time. Borrowers in Hardship. The Sagent Difference.

Technology 392

Technology Loans Investor Branding 392

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. banks in comparison to international standards.

Industrial 421

Industrial Banks Residential Lending 421

Housing Wire

OCTOBER 5, 2023

Saluda Grade , a real estate advisory and asset-management firm specializing in alternative lending products in the nonbank sector, and its fintech partner, Unlock Technologies , this week priced the industry’s first rated securitization backed entirely by shared-equity contracts (which Unlock calls HEAs).

Equity 417

Equity Purchase and sale agreement Marketing Lending 417

Housing Wire

FEBRUARY 27, 2024

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. But before diving back in headfirst, it would be worthwhile for lenders to think through what the last two years of scarcity reveal about the normal working model of an independent mortgage bank (IMB).

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Finance Technology Loans Industrial 417

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

MARCH 4, 2021

Fintech company Plaid has announced the release of Income, a beta product looking to simplify income verification so customers can secure loans, qualify for mortgages, rent apartments, lease vehicles, and more. Plaid’s technology enables apps to connect with users’ bank accounts. Its most recent valuation was $5.3

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Finance Pre-approval Banks Investor 258

Housing Wire

JUNE 30, 2021

That’s where Finance of America Mortgage (FAM) TPO’s Two-X Flex suite of proprietary jumbo and non-QM products comes into the picture. FAM TPO’s Two-X Flex suite comes with additional products to give borrowers even more purchasing or refinancing power, which allows them to qualify for loans based on factors outside of standard requirements.

Finance 285

Finance Lending Loans Technology 285

Housing Wire

APRIL 13, 2022

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. After all, it still takes 43 days, on average, to close a loan.

Mortgages 407

Mortgages Banks Technology Finance 407

Housing Wire

DECEMBER 14, 2023

Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower , which will create a unified lender with more than 650 loan officers and 120 active branches across the country. In 2021, Veritex Holdings , the parent company of Veritex Community Bank , acquired a 49% stake in the lender for $53.9

Mortgages 427

Mortgages Loan Officer Banks Finance 427

Housing Wire

MAY 6, 2022

In an effort to counter margin compression and satisfy a new generation of homebuyers, lenders are looking to offer loan options that better fit the average borrower. How can adding non-QM loan options help lenders make up for potential profit loss? Higher loan limits also provide greater flexibility in higher priced markets.

Loans 370

Loans Marketing Lending Loan Officer 370

Housing Wire

OCTOBER 9, 2023

The free app, which officially launches Tuesday, allows users to price out mortgages, personal loans and other finance products that Guaranteed Rate offers, but there’s a twist: users can also access financial, physical and mental health resources to help them “live their best lives.” As of Oct. As of Oct.

Mortgages 417

Mortgages Loan Officer Loans Technology 417

Housing Wire

SEPTEMBER 25, 2023

Just weeks after New York-based digital lender Better Home & Finance Holding went public , Better issued pink slips to employees in early September in a new round of layoffs, Insider reported. Better was ranked as the 59th largest lender in Q1 2023, plummeting from the 19th in 2021, according to Inside Mortgage Finance.

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Title Technology Finance Mortgages 417

Housing Wire

OCTOBER 21, 2021

The nation’s network of Federal Home Loan Banks (FHLBanks ) expects to be required to increase its share of investments in affordable housing. The total volume should not be lower than $100 million for each bank. In the first week of October, the bank also launched a $1.5 In May, Sen.

Banks 370

Banks Loans Equity Finance 370

Housing Wire

SEPTEMBER 23, 2020

Loan servicers operate between a rock and a hard place today. OK, but then the current economic climate adds levels of complexity, with loan modifications, forbearances and confusion about compliance. They must do all that, while also remaining compliant in handling, notifying borrowers of options or modifying the loan.

Loans 370

Loans VA loan Lending Technology 370

Housing Wire

MARCH 17, 2022

Figure , a blockchain-focused financial service company and Apollo , a global alternative asset manager, announced today completing a transaction involving the origination of digital mortgage loans and transfer of ownership via blockchain technology, according to a press release shared with FinLedger.

Lending 462

Lending Technology Loans Mortgages 462

Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

Technology 446

Technology Development Title Lending 446

Housing Wire

MARCH 1, 2023

San Francisco-based SaaS technology provider Polly on Monday announced its API integration with Total Expert, a customer engagement platform purpose-built for financial institutions. Total Expert provides customer engagement solutions for more than 175 modern financial institutions, unifying data, marketing, sales, and compliance solutions.

MLS 370

MLS Loan Officer Technology Loans 370

Housing Wire

DECEMBER 22, 2023

Entering the real estate finance world in the summer of 2022 as a 23-year-old, I immediately felt like a fish out of water. For Gen Z, technology is second nature Gen Z is considered those who were born between 1997 and 2012 — today, members of Gen Z are between 11 and 26 years old.

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Branding Technology Finance Industrial 427

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. My parents are retired, and putting my entrepreneurial and finance hats on, I just got to see challenges they face and conversations they’ve had,” she said.

Mortgages 454

Mortgages Finance Loan Officer Equity 454

Housing Wire

NOVEMBER 7, 2023

Mortgage tech firm Blend Labs continued to narrow its financial losses in the third quarter, driven by strong growth in its consumer banking business. Blend’s platform segment includes the mortgage suite, consumer banking suite and professional services. The mortgage banking suite revenue declined by 11% year over year to $20.3

Banks 416

Banks Mortgages Investor Title 416

Housing Wire

MARCH 14, 2024

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. In the fourth quarter, Blend closed eight new consumer banking deals, which included signing a multiyear consumer banking deal with Citizens Bank. million and $35.5

Title 417

Title Banks Mortgages Loans 417

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. But Woodward struggled to originate purchase loans. “I Without that being built, I was starting from scratch.

Mortgages 521

Mortgages Marketing Lending Loans 521