Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. mortgage lender, has long described itself as a “one-stop mortgage shop.” But it has built its reputation on its expertise in mortgage. So what exactly is a “one-stop mortgage shop?” “We Smith, senior executive vice president and president of mortgage at Flagstar.

Banks 366

Banks Mortgages Commercial Lending 366

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. was open for business. In total, 76.6%

Banks 368

Banks Mortgages Loans Loan Officer 368

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%

Technology 380

Technology Sales Mortgages Lending 380

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 386

Lending Banks Technology Finance 386

Housing Wire

APRIL 1, 2024

Affordability has always been a challenge,” said Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation. “In In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And

Equity 428

Equity Finance Purchase and sale agreement Investor 428

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 359

Loans Mortgages Lending Branding 359

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. 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. million in Q2 2022.

Banks 411

Banks Mortgages Loans Investor 411

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 408

Banks Closing costs Lending Equity 408

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 382

Lending Banks Commercial Finance 382

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. Rocket Mortgage had purchase origination volume of $47.5

Mortgages 457

Mortgages Marketing Lending Banks 457

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 381

Banks Finance Commercial Technology 381

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. billion during the same time period, according to mortgage recruiting platform Modex. In total the lenders have originated about $3.3

Mortgages 423

Mortgages Loan Officer Banks Finance 423

Housing Wire

JANUARY 11, 2023

In its 3rd year, the HW Finance Leaders award is celebrating the industry’s top finance executives who have muscled through another unprecedented year in housing and helped their organizations come out on top. So what does it take to be among the HW Finance Leaders? Click here before the January 27th deadline!

Finance 393

Finance Banks Brokerage Closing 393

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. Personal ties Frankowska explained that her journey into the reverse mortgage sphere was primarily motivated by what she observed her parents going through as they got older. “My

Mortgages 442

Mortgages Finance Loan Officer Equity 442

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. There’s about 8,500 fix-and-flip mortgage lenders in the U.S. Faes & Co has also been involved with building a short-term mortgage lender in Ireland. LendInvest has more than $4.7

Finance 368

Finance Marketing Lending Loans 368

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Bankruptcy 440

Bankruptcy Finance Mortgages Banks 440

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. Bank Home Mortgage. But it’s a challenge.

Mortgages 403

Mortgages Banks Technology Finance 403

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.

Loans 444

Loans Technology Mortgages Finance 444

Housing Wire

FEBRUARY 16, 2021

Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” I can set filters for my partner search on Bumble, so why can’t I filter results for a mortgage broker? 3 Self-driving banks. 1 Personalization.

Mortgages 531

Mortgages Banks Loan Officer Technology 531

Housing Wire

MAY 10, 2023

The company offers direct-source data portability tools for mortgage, lending, banking, background and tenant screening, and other use cases. Argyle’s technology has helped numerous businesses to streamline their income and employment verification processes.

Mortgages 395

Mortgages Banks Lending Finance 395

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% The significant cost savings of working with an independent mortgage broker has also become more widely known. Mortgage brokers, previously seen as the underdogs, are now significant players.

Industrial 438

Industrial Loan Officer Marketing Loans 438

Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. As of Oct.

Mortgages 414

Mortgages Loan Officer Loans Technology 414

Housing Wire

OCTOBER 11, 2022

Moon Mortgage, a crypto-backed mortgage provider, on Tuesday announced raising a $3.5 The funds will be utilized to finance its lending product, CryptoMortgage. Moon Mortgage’s CryptoMortgages will allow investors to take out loans against their digital assets.

Mortgages 381

Mortgages Lending Investor Banks 381

Housing Wire

APRIL 27, 2022

First Community Mortgage ‘s wholesale division named a new regional sales manager in hopes to continue growth for the firm’s mortgage boutique division. Headed by Dan Smith , FCM is a wholly-owned subsidiary of First Community Bank of Tennessee and includes wholesale, correspondent, and retail divisions.

Sales 363

Sales Mortgages Banks Lending 363

Housing Wire

OCTOBER 16, 2023

The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. But then a rebound in 2024 — up 19%,” Fratantoni said. and reach 5.5%

Mortgages 488

Mortgages Marketing Banks Industrial 488

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

AUGUST 3, 2021

The blockchain revolution may soon be coming to mortgage lending. The Mike Cagney-led fintech lender Figure Technologies , most recently valued at $3.2 According to Inside Mortgage Finance, Homebridge was the 28th-largest mortgage originator in 2020, originating about $26.4 billion in mortgages.

Mortgages 502

Mortgages Lending Loans Technology 502

Housing Wire

JANUARY 6, 2022

Rocket Companies announced this week that its CEO Jay Farner has stepped away from his role as Rocket Mortgage CEO, to assume the role of CEO of Rocket Central , the mortgage company’s fintech platform. Bob Walters, COO of both Rocket Companies and Rocket Mortgage, has stepped into the role as CEO of Rocket Mortgage.

Mortgages 419

Mortgages Technology Finance Closing 419

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.

Loan Officer 393

Loan Officer Loans Banks Title 393

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).

Finance 413

Finance Technology Loans Industrial 413

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Regarding the mortgage industry, the acceptance of cryptocurrencies by investors lags the development of new products.

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

APRIL 28, 2021

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. Veritex is one of Texas’ largest banks, with $8.8 The investment in Thrive comes amid a wave of M&A activity in the mortgage lending space.

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

FEBRUARY 8, 2024

Bloomberg also reported that several banks, including JPMorgan Chase & Co. and Bank of America Corp. have held talks to provide as much as $8 billion to finance a buyout of DocuSign. DocuSign’s market capitalization is close to $10.5 billion with a share price of $51.33 as of Thursday afternoon.

Sales 422

Sales Banks Technology Investor 422

Housing Wire

JANUARY 18, 2022

Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said. And unlike conventional mortgages, there are no down payment requirements.

Mortgages 477

Mortgages Pre-qualification Pre-approval Lending 477

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). About 37% of respondents were spending money in social media and 34.8%

Mortgages 412

Mortgages Marketing Banks New Construction 412

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 375

Industrial Banks Residential Lending 375

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

Equity 413

Equity Purchase and sale agreement Marketing Lending 413