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 450

Mortgages Marketing Lending Banks 450

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 386

Banks Lending Residential Mortgages 386

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 347

Banks Mortgages Commercial Lending 347

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. million in mortgages last year, mainly for building and construction. The financials of the deal were not disclosed.

Mortgages 392

Mortgages Loan Officer Banks Equity 392

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. retail residential mortgage applications.

Banks 367

Banks Mortgages Fixed-rate mortgage Loans 367

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. market share, according to Inside Mortgage Finance (IMF) estimates.

Loans 329

Loans Mortgages Due diligence Banks 329

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it.

Banks 375

Banks Mortgages Technology Branding 375

Housing Wire

MARCH 16, 2023

After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. financial institutions — and resulted in the failures of Silicon Valley Bank and Signature Bank. But what is there to expect ahead for the housing market? by mid-week.

Banks 380

Banks Mortgages Fixed-rate mortgage Lending 380

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 353

Banks Lending Finance Mortgages 353

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Banks 374

Banks Mortgages Loan Officer Residential 374

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.

Mortgages 484

Mortgages Marketing Banks Industrial 484

Housing Wire

JANUARY 10, 2024

HomeEquity Bank , Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter Mansbridge to serve as its strategic communications consultant. In a new campaign from HomeEquity Bank launching Jan.

Mortgages 394

Mortgages Banks Marketing Staging 394

Housing Wire

MARCH 19, 2023

The housing market was crazy again last week. Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? This bond market is screaming at the Fed to cut rates.

Banks 380

Banks Marketing Mortgages As-is 380

Housing Wire

APRIL 12, 2024

As artificial intelligence continues to grow in prominence, mortgage professionals “must carefully evaluate and manage” their use of AI and “focus on deriving the benefits while avoiding potentially catastrophic risks.” They go on to describe the potential significance of AI in multiple areas of mortgage lending. trillion in 2032.

Industrial 368

Industrial Technology Banks Mortgages 368

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 337

Industrial Banks Residential Lending 337

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.

Banks 396

Banks Mortgages Loans Investor 396

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand.

Industrial 385

Industrial Mortgages Purchase and sale agreement Banks 385

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 350

Mortgages Banks Marketing Residential 350

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021.

Mortgages 365

Mortgages Marketing Banks Investor 365

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. The outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 393

Banks Mortgages Loans Equity 393

Housing Wire

NOVEMBER 1, 2021

Mortgage lending titan Rocket Mortgage is bringing its tech straight to financial institutions. The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud.

Banks 392

Banks Mortgages Loan Officer Lending 392

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. ICE attributed “an analog to digital conversion occurring in the U.S. from Q3 2022’s $276 million.

Industrial 276

Industrial Mortgages Technology Loan Officer 276

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 329

Banks Lending Finance Investor 329

Housing Wire

SEPTEMBER 12, 2023

With mortgage rates above 7%, historically low levels of housing inventory, defaults in commercial real estate, and a series of potentially onerous regulations to come, Mortgage Bankers Association President and CEO Bob Broeksmit said the trade group is doing all its can to influence policymakers. House of Representatives.

Industrial 395

Industrial Banks Finance Commercial 395

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

Industrial 366

Industrial Mortgages Principal Loans 366

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 342

Mortgages Title Marketing Lending 342

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. Industry workers didn’t pull back on investing in professional development, with the majority (51%) spending money to reach potential clients. in events to garner business.

Mortgages 400

Mortgages Marketing Banks New Construction 400

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. A couple of things.

Industrial 395

Industrial Mortgages Loan Officer Banks 395

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. The mortgage industry has been going through these cycles since the 1980s.

Industrial 442

Industrial Mortgages Principal Technology 442

Housing Wire

APRIL 19, 2022

Publicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry. The company, whose white-label technology powers mortgage applications on the websites of major lenders such as Wells Fargo and U.S. Bank , expects to incur about $6.7 As of 11:50 a.m.

Industrial 369

Industrial Mortgages Investor Loans 369

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 381

Lending Banks Commercial Finance 381

Housing Wire

JULY 19, 2022

Adjusting to today’s market can be dizzying after the last few years of historically low interest rates and high refinance business. We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. Notable trends in a new era of sales.

Industrial 398

Industrial Mortgages Loan Officer Technology 398

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgages 368

Mortgages Marketing Banks Loans 368

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

Lending 359

Lending Mortgages Technology Banks 359

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

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 395

Banks Lending Mortgages Commercial 395

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

Banks 361

Banks Loan Officer Loans Lending 361