Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 369

Banks Debt-to-income ratio Lending Loans 369

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. It has enabled first-time, low- to moderate-income borrowers to secure affordable mortgage financing since 1957 while protecting taxpayers from mortgage credit risk.

Finance 370

Finance Equity Mortgages Principal 370

Housing Wire

APRIL 1, 2024

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 Potential partnerships Home equity investments are likely to become essential to the home finance product marketplace. And that has already started to happen,” Craft said.

Equity 441

Equity Finance Purchase and sale agreement Investor 441

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 consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 450

Investor Mortgages Banks Principal 450

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 397

Bankruptcy Banks Pre-approval Principal 397

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 506

Banks Lending Loans Principal 506

Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week. Before joining FHFA, Valverde served at the U.S. from Yale Law School.

Principal 391

Principal Finance Banks Loans 391

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. It offers adjustable- and fixed-rate options with a maximum loan amount of $4 million.

Mortgages 241

Mortgages Principal Equity Loans 241

Housing Wire

MAY 23, 2024

.” Knag has an extensive resume, having served in several financial leadership roles in the media, telecommunications, technology and finance sectors. He began his career in investment banking, going on to work for Lehman Brothers and First Albany Corp. million, although it narrowed its net loss by 71% to $17.5 million.

Principal 415

Principal Finance Banks Technology 415

Housing Wire

AUGUST 4, 2022

The loan must be secured by a principal residence. Why any lender would create a downpayment assistance fund with its own money — rather than that of a state housing finance agency or other source — is not clear from Fannie Mae’s guidance. For banks, there is a potential incentive for making targeted programs.

Loans 496

Loans Principal Banks Closing costs 496

Housing Wire

JUNE 28, 2024

The Federal Housing Finance Agency (FHFA) on Thursday named the inaugural members of its newly created advisory committee on affordable, equitable and sustainable housing.

Lending 397

Lending Principal Finance Land 397

Housing Wire

APRIL 21, 2022

Meanwhile, Ethan Elzen will be the executive vice president of business development and operational finance. . According to the latest quarterly earnings, the servicing company ended the fourth quarter of 2021 with $710 billion in unpaid principal balance, up from $668 billion in the third quarter.

Banks 397

Banks Principal Finance Equity 397

Housing Wire

JULY 8, 2024

The bank entered into an agreement to buy $1.8 More recently, regional banks have been looking to shed assets ahead of the Basel III Endgame regulations. As with many other regional banks, PacWest had billions of dollars worth of unrealized losses in its bond portfolio and uninsured deposits that were at risk of being pulled.

Loans 408

Loans Principal Banks Residential 408

Housing Wire

APRIL 21, 2022

Perry said that despite statements from banking regulatory agencies, the Federal Housing Finance Agency , the Department of Housing and Urban Development and the Consumer Financial Protection Bureau to reassure lenders that targeted lending programs do not violate fair lending laws, mortgage lenders remain hesitant.

Lending 410

Lending Finance Principal Development 410

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 421

Commercial Brokerage Due diligence Title 421

Housing Wire

MARCH 5, 2024

Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. a KKR -owned company; Citibank ’s mortgage division; Morgan Stanley ; American Express ; and Bank of America.

Principal 412

Principal Commercial Loans Mortgages 412

Housing Wire

MAY 31, 2021

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. Senate Finance Committee.

Principal 397

Principal Banks Finance Technology 397

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6 a week earlier.

Principal 370

Principal Fixed-rate mortgage Loans Residential 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 410

Lending Principal Finance Loans 410

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks.

Mortgages 397

Mortgages Loan Officer Lending Principal 397

Housing Wire

MAY 16, 2022

As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. billion in the broker channel last year, according to Inside Mortgage Finance. .

Principal 384

Principal Banks Loans Lending 384

Housing Wire

DECEMBER 15, 2021

The Bitcoin-backed mortgage product accepts Bitcoins and properties as collateral for loans to clients that want to purchase new real estate or finance a property they already own. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

Mortgages 421

Mortgages Lending Banks Investor 421

Housing Wire

FEBRUARY 28, 2022

The Federal Housing Finance Agency (FHFA) proposed some key changes to requirements for single-family seller servicers that do business with the enterprises. The lowest minimum liquidity requirement — for those servicers who are only obligated to pay whatever interest and principal the borrower pays — would be set at 3.5 basis points.

Principal 397

Principal Loans Industrial Banks 397

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower.

Marketing 408

Marketing Principal Banks Loans 408

Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

Principal 441

Principal Loans Investor Industrial 441

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. The CSBS liquidity requirements also conform to the requirements the Federal Housing Finance Agency already has. basis points of total servicing unpaid principal balance.

Principal 370

Principal Banks Mortgages Loans 370

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 When the company shut down, loans were sold to investors, except those remaining with Flagstar Bank and First Horizon.

Bankruptcy 414

Bankruptcy Banks Principal Investor 414

Housing Wire

SEPTEMBER 10, 2022

This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 Morgan Chase Bank , 6.5%; Rocket Mortgage , 6.4%; and Wells Fargo , 4.7%. billion for the $12.2

Principal 421

Principal Loans Investor Residential 421

Housing Wire

APRIL 14, 2023

Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. As of the end of the first quarter of 2023, the bank’s MSR portfolio was valued at $8.81 billion based on the unpaid principal balance (UPB), down from $679.2

Principal 421

Principal Loans Banks Mortgages 421

Housing Wire

MARCH 23, 2022

We expect it to be a challenging [mortgage] market from a volume perspective due to interest rates and credit spreads,” said David Pelka, head of RMBS business and a principal at CarVal. The loans may include interest-only , 40-year terms or other creative financing features often designed to lower monthly payments.

Bankruptcy 384

Bankruptcy Banks Loans Residential 384

Housing Wire

DECEMBER 13, 2024

As the white paper explains, FHA-insured forward mortgages require servicer advances of monthly scheduled principal and interest. While a similar reliance exists in reverse, Kelly said, the underlying question centers on why banks have largely retreated and what it would take to get them reengaged in the mortgage business.

Bankruptcy 368

Bankruptcy Loans Investor Banks 368

Housing Wire

AUGUST 11, 2022

Its earnings report shows that it added a new $340 million warehouse financing facility during the second quarter and since the end of the quarter it increased the capacity of an existing warehouse line by $260 million — to a total of $600 million. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 384

Mortgages Residential Loans Lending 384

Housing Wire

SEPTEMBER 21, 2023

While Fed Chair Jerome Powell emphasized incoming data will determine whether the central bank will raise its federal funds rate at its next FOMC meeting in November, the “dot-plot” of rate projections showed policymakers foresee one more hike by the year-end. in 2024 and 5.1% Therefore, the Fed needs to wait and not raise rates.

Banks 421

Banks Mortgages Principal Commercial 421

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 408

Mortgages Marketing Banks Loans 408

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 450

Technology Title Development Lending 450

Housing Wire

SEPTEMBER 22, 2022

The new credit risk transfer (CRT) offering, STACR 2022-DNA7, outlined in a presale report by Kroll Bond Rating Agency , involves a $616 million note offering backed by a reference loan pool of 69,144 residential mortgages with an outstanding principal balance of $19.9 Morgan Chase Bank , 4.1%, according to the KBRA report.

Principal 370

Principal Loans Investor Residential 370