Housing Wire

JULY 1, 2022

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. Most industry observers predicted that the national foreclosure rate would rise once foreclosure moratoriums ended on July 31, 2021. Presented by: Auction.com.

Banks 383

Banks Mortgages Principal Short sale 383

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion from the Federal Home Loan Banks , $10.5 billion in Bank Term Funding Program borrowings. Pacific Western Bank reported $11.4

Banks 383

Banks Commercial Loans Investor 383

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The last day for fundings is April 28, the regional bank said in an e-mailed response.

Lending 377

Lending Banks Finance Loans 377

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. retail residential mortgage applications. Silicon Valley Bank collapsed last week after it lacked the liquidity to pay for clients’ withdrawals.

Banks 368

Banks Mortgages Fixed-rate mortgage Loans 368

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. The bank posted a net income of $8.2 Consumer banking division posted a net income of $3.1

Banks 341

Banks Mortgages Equity Loans 341

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 369

Banks Loan Officer Loans Commercial 369

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Barr said that the U.S.

Banks 471

Banks Commercial Residential Loans 471

Housing Wire

JANUARY 3, 2023

With nearly 40 years of experience in the real estate finance industry, Lowrie is widely known for making history in 2005 as the first female elected chair of the MBA. Her tenacity, resilience, and fierce advocacy for our industry will long be remembered by all those fortunate enough to have interacted with her.

Industrial 454

Industrial Mortgages Banks Residential 454

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. Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.

Industrial 280

Industrial Mortgages Technology Loan Officer 280

Marco Santarelli

JUNE 9, 2024

The FDIC Problem Bank List is a confidential list maintained by the Federal Deposit Insurance Corporation (FDIC) in the US. It identifies banks that are considered to be at risk of failing financially. Identification Process: Banks are assigned a CAMELS rating by FDIC examiners. These banks hold a combined total of $82.1

Banks 111

Banks Land As-is Residential 111

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. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

Industrial 388

Industrial Mortgages Purchase and sale agreement Banks 388

Housing Wire

DECEMBER 9, 2022

With only three weeks until 2023 arrives, housing industry executives are adjusting their operations to face what is expected to be another challenging year. . Against the backdrop of this challenging economic and housing environment, companies in the housing industry continued to restructure and cut workforce to better position themselves.

Industrial 357

Industrial Residential Mortgages Investor 357

Housing Wire

NOVEMBER 1, 2021

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. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

Banks 397

Banks Mortgages Loan Officer Lending 397

Housing Wire

JULY 13, 2022

What does ESG’s growth and current ubiquity mean for residential MBS markets? If done responsibly, ESG and RMBS should coexist in a positive, self-reinforcing, meaningful way, and one that establishes the residential mortgage market as a best practices leader in the movement overall.

Residential 344

Residential Mortgages Investor Development 344

Housing Wire

JANUARY 26, 2021

The company and industry leaders alike mourned his passing, calling him an “esteemed industry leader, visionary and friend.”. “I Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. His storied career in mortgage banking spanned more than four decades.

Industrial 377

Industrial Mortgages Residential Banks 377

Housing Wire

MAY 30, 2024

Coldwell Banker Realty , a New England-based residential real estate brokerage , welcomed The DelRose McShane Team , the brokerage announced on Wednesday. entered the real estate industry in the early 1980s, founding The Gallery of Homes before establishing his RE/MAX franchise, which evolved into RE/MAX Revolution. Mike DelRose Jr.

Brokerage 417

Brokerage Residential Commercial Development 417

Housing Wire

OCTOBER 11, 2023

PNC Bank issued pink slips to an undisclosed number of employees this week as part of its focus on controlling costs. “As No Worker Adjustment and Retraining Notification (WARN) notices were submitted to the Pennsylvania Department of Labor & Industry. PNC is headquartered in Pittsburgh. Of the $101.8

Equity 441

Equity Residential Banks Loans 441

Housing Wire

JUNE 3, 2024

“MBA is disappointed with the CFPB’s final rule of a Public Orders Registry, as it creates a costly and duplicative reporting framework for the mortgage industry,” said Pete Mills, the Mortgage Bankers Association’s SVP of residential policy. The CFPB has been focused on holding lawbreaking companies accountable.

Due diligence 391

Due diligence Banks Mortgages Lending 391

Housing Wire

JULY 18, 2023

Bank of America (BofA), a top-20 U.S. But executives at all three banks expect some major regulatory headwinds. industry is the best industry in the world and actually does a lot of good for all the countries of the world, including the U.S. . Bank of America had $228.7 BofA had an 11.6% current requirement.

Mortgages 331

Mortgages Banks Equity Residential 331

Marco Santarelli

MAY 2, 2024

Powell Warns of Bank Failures The stability of the banking sector is a critical component of the global financial system, and recent statements from the Federal Reserve (Fed) have highlighted concerns about potential bank failures. The Fed has identified banks with high concentrations in these areas as being at risk.

Banks 75

Banks Commercial Residential Lending 75

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 352

Mortgages Banks Marketing Residential 352

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi was the 19th-largest residential mortgage lender in America by origination volume in the first half of the year, according to a data analysis by Inside Mortgage Finance.

Mortgages 383

Mortgages Banks Lending Residential 383

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S.

Mortgages 369

Mortgages Banks Equity Residential 369

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We HousingWire reported on the restructuring last week, noting that the bank cut hundreds of jobs at Flagstar, according to laid off employees. New York Community Bancorp, Inc. billion in volume.

Mortgages 367

Mortgages Lending Banks Commercial 367

Housing Wire

FEBRUARY 27, 2024

DKMC), has tapped industry veteran Mosi Gatling as senior vice president of strategic growth and expansion, a newly created role on NAF’s leadership team. This position presents me with an opportunity to affect positive change across the industry.” Of the total, 53.6% were conventional loans and 30.5% were FHA loans.

FHA loan 410

FHA loan Loan Officer Loans Staging 410

Housing Wire

OCTOBER 18, 2023

mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital rules are applied to banks, according to BofA’s executives. Deposits at Bank of America were $1.88

Mortgages 358

Mortgages Banks Equity Lending 358

Housing Wire

MARCH 20, 2023

Flagstar Bank , a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. Ultimately, the New York state chartering authority closed the bank on March 12.

Banks 366

Banks Lending Commercial Loans 366

Housing Wire

JULY 11, 2022

Depository bank Citi has bolstered its mortgage business with the hire of industry veteran Darin Lugat, following a reorganization of its mortgage divisions to align with the bank’s retail operations. The bank funded $6.7 billion in residential mortgages during the period, a decrease of 2.5% The bank funded $6.7

Lending 354

Lending Marketing Banks Residential 354

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. But over the last ten years, Bank OZK, a small bank from Arkansas, has grown to become one of the most powerful financiers of large real estate projects in the U.S. Bank OZK has humble roots.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

JANUARY 30, 2023

Daras’ professional career spans more than four decades in the banking and mortgage banking industry. His specializations include risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing, according to a statement from Cenlar. territories.

Banks 371

Banks Mortgages Residential Finance 371

Broke Agent Media

MARCH 14, 2023

In this week’s episode of The Real Word , Byron Lazine and Nicole White start with an Inman article on the importance of Silicon Valley Bank (SVB) , which made the news when some high-risk moves led it to its recent takeover by California regulators—and the second largest bank collapse in U.S. Click here to watch the full episode.

Banks 98

Banks Lending Residential Industrial 98

Housing Wire

AUGUST 5, 2022

Construction gained 32,000 jobs in July, with residential building gaining 2,900 jobs and residential specialty trade contractors gaining 11,200 jobs. “While the housing sector slows, the construction industry has faced a skilled labor shortage for many years and will continue to try and fill empty positions. .

Construction 414

Construction Residential Banks Mortgages 414

Housing Wire

JUNE 15, 2023

“My personal experience as a Black man working in the mortgage industry for the past two decades has given me insights and experience to draw from that I’m ready to put to work to help create an environment that supports and empowers Guild’s diverse workforce,” said Lamont.

Development 328

Development Loan Officer Banks Mortgages 328

Housing Wire

APRIL 3, 2023

The tumult in the banking industry set off by the failure of Silicon Valley Bank (SVB) on March 10, followed two days later by the collapse of Signature Bank , has sparked fear in the markets over a potential broader contagion infecting the entire financial industry — and ultimately the U.S.

Banks 359

Banks Lending Industrial Mortgages 359

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “Volumes came in much lighter than industry expectations and margins were also below what we were expecting; we had thought 3Q22 results were trough levels,” they added. .

Mortgages 415

Mortgages Banks Equity Lending 415

Housing Wire

FEBRUARY 9, 2023

A regulator in Illinois has suspended the MLO license of industry veteran Michael Strauss and the license for his mortgage company, Smart Rate Mortgage, essentially blocking the company from operating in the state, according to the Nationwide Multistate Licensing System (NMLS). Strauss’s MLO license in the state was issued on December 28.

Residential 342

Residential Investor Finance Banks 342

Housing Wire

APRIL 7, 2023

Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. This remark comes on the heels of the collapse of Silicon Valley Bank on March 10, the second-biggest bank failure in U.S. Let’s look at the retail industry, for instance.

Commercial 374

Commercial Banks Fixed-rate mortgage Residential 374