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 351

Banks Mortgages Technology Branding 351

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 364

Banks Finance Commercial Technology 364

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 382

Banks Mortgages Principal Short sale 382

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. But higher rates can impact gain-on-sale margins and production forecasts.

As-is 433

As-is Industrial Mortgages Loans 433

Housing Wire

MARCH 19, 2023

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? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 374

Banks Marketing Mortgages As-is 374

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 expects to have its second-best year for MSP sales since 2017. billion,” Gardiner said.

Industrial 256

Industrial Mortgages Technology Loan Officer 256

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. The national median existing-home sale price fell 0.2%

Industrial 371

Industrial Mortgages Purchase and sale agreement Banks 371

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 346

Banks Loan Officer Loans Commercial 346

Housing Wire

NOVEMBER 27, 2023

Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. The industry would need to see a more persistent mortgage rate decline to near 6% for a more meaningful pickup in prepayment speeds, the note said.

Industrial 364

Industrial Mortgages Loans Banks 364

Housing Wire

JUNE 8, 2023

The title insurance industry is on the front lines in a never-ending war with the fraudsters. As the industry has gotten better at combatting wire fraud and even the more recent seller impersonation fraud , criminals looking for larger paydays have turned to mortgage payoffs. Can you afford to lose a million dollars?

Title 289

Title Industrial Banks Technology 289

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 outlook is not good for large cohorts of the industry.”. trillion in 2021. trillion in 2021.

Banks 390

Banks Mortgages Loans Equity 390

Housing Wire

NOVEMBER 18, 2022

A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. These trends have exacerbated industry overcapacity, leading to continual layoffs. And don’t expect the layoffs to stop anytime soon.

Industrial 397

Industrial Loan Officer Loans Lending 397

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 369

Banks Mortgages Loan Officer Lending 369

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. The sale is expected to close in the third quarter of 2024. billion; 5.7%).

Loans 309

Loans Mortgages Due diligence Banks 309

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. In fact, the strongest quarter that we had of all 2022 was the fourth quarter.”

Technology 348

Technology Sales Mortgages Lending 348

Housing Wire

FEBRUARY 9, 2022

While the real estate industry has witnessed the introduction of a number of spectacular and innovative developments in recent years, we still (sometimes unfairly) get tagged as “old fashioned” or “conservative.” Why is the industry still transferring money the old-fashioned way? There’s really no experience quite like buying a home.

Industrial 382

Industrial Purchase and sale agreement Pre-approval Banks 382

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 327

Industrial Residential Mortgages Investor 327

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I

Sales 356

Sales Lending Principal Banks 356

Housing Wire

JUNE 15, 2023

​​The Federal Reserve ‘s (Fed) interest rate hike pause will give the housing industry a cautious sigh of relief, but observers are already nervous that the rate-induced pain train won’t come to a complete stop for a while longer and volatility will remain. The industry wants a complete stop.

As-is 341

As-is Industrial Fixed-rate mortgage Mortgages 341

Housing Wire

MAY 25, 2023

After falling for the first time since November 2022 in March , pending home sales remained unchanged in April, according to data released Thursday by the National Association of Realtors (NAR). Year over year, pending home sales were down 20.3%, an improvement on the 23.3% annual drop recorded in March. The Northeast (59.1)

Sales 353

Sales MLS Banks Mortgages 353

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. John Gibson: SVP, National Sales Director; Wholesale & Correspondent Lending. The post Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions appeared first on HousingWire.

Lending 316

Lending Banks Technology New Construction 316

Housing Wire

JULY 19, 2022

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. Trust Index has declined 10 points since 2017, and the majority of Americans do not trust the central bank. Their research shows the U.S.

Industrial 378

Industrial Mortgages Loan Officer Technology 378

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. In his role as national sales director at Movement, Yeager will focus on the company’s growing sales team.

Sales 322

Sales Loan Officer Lending Residential 322

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. The post Flagstar Bank to back trio of mortgage-tech startups appeared first on HousingWire. The current program will end Feb.

Banks 277

Banks Mortgages Lending Technology 277

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 322

Sales Mortgages Loans Loan Officer 322

Inman

AUGUST 3, 2023

Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through third-party brokers.

Banks 106

Banks Sales Industrial Mortgages 106

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA).

Loans 406

Loans Banks Mortgages Sales 406

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. Last month, Mortgage Cadence announced the hiring of reverse mortgage industry veteran George Morales to serve on its sales team.

Lending 333

Lending Mortgages Technology Banks 333

Marco Santarelli

MARCH 19, 2023

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure due to rising interest rates and a high proportion of uninsured deposits. The report titled ‘Monetary Tightening and US Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?'

Banks 145

Banks Title Equity Industrial 145

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

Investor 283

Investor Sales Mortgages Loan Officer 283

Housing Wire

FEBRUARY 28, 2021

The lending industry is notorious for its poor customer retention – in fact, only 1 in 5 borrowers return to their original lender for a subsequent loan. Sales Boomerang solve this problem by helping banks, credit unions and independent mortgage lenders build lasting, profitable relationships with their borrowers.

Sales 341

Sales Equity Loans Lending 341

Housing Wire

APRIL 18, 2024

Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from the mortgage servicer. We look forward to working together to truly solve the issue of payoff fraud seen across the industry,” Adams added. said in a statement. “We

Title 455

Title Land Mortgages Banks 455

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. and reach 5.5%

Mortgages 474

Mortgages Marketing Banks Industrial 474

Housing Wire

MARCH 11, 2024

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. is a software development company that offers a digital loan origination system and POS for the mortgage industry. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 374

Mortgages Loan Officer Loans Banks 374

Housing Wire

APRIL 30, 2024

Universal president and industry veteran TJ Kennedy leads its retail and wholesale channels. Thrive CEO Selene Kellam , and Randell Gillespie , its national sales director, joined the executive team at Lower. ” Another minority stakeholder at Lower is Veritex Holdings , the parent company of Veritex Community Bank.

Loan Officer 377

Loan Officer Banks Lending Loans 377

Housing Wire

APRIL 22, 2024

Industry veteran Rick Roque has resigned from his position as corporate vice president at retail mortgage lender CrossCountry Mortgage (CCM) to join multichannel player Sierra Pacific Mortgage as executive vice president of retail. Roque, who co-founded M&A and retail mortgage banking firm Menlo Co. billion in loans in 2023.

Mortgages 333

Mortgages Loan Officer Loans Banks 333

Housing Wire

NOVEMBER 18, 2022

The third quarter used to be historically the strongest of the year for independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks. Purchase share of total originations by dollar volume among IMBs and mortgage subsidiaries of chartered banks jumped to 86% from the previous quarter’s 81%. At least until 2022.

Loans 358

Loans Banks Lending Mortgages 358