Housing Wire

MARCH 20, 2024

A fresh set of quarterly economic projections from Fed officials showed that borrowing costs are expected to end the year at 4.6%, suggesting that the central bank still plans to make three cuts of 25 basis points (bps) each in 2024. In short, no one should expect a return to the historically low rates we saw back in 2020 and 2021.”

Industrial 408

Industrial Mortgages Banks Principal 408

Housing Wire

APRIL 8, 2022

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 Non-QM is expected to make a resurgence this year, and originators should look toward non-QM lending to help restimulate their business.

Sales 357

Sales Lending Principal Banks 357

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 386

Bankruptcy Banks Pre-approval Principal 386

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 343

Mortgages Marketing Banks Investor 343

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 342

Marketing Principal Banks Loans 342

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 439

Banks Lending Loans Principal 439

Housing Wire

JUNE 28, 2023

. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. 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 345

Industrial Mortgages Principal Loans 345

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 327

Mortgages Banks Marketing Residential 327

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. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 420

Mortgages Lending Banks Investor 420

Housing Wire

JULY 22, 2022

Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. The bank calls out 16 non-QM lenders in the text message, indicating it is ramping up scrutiny of its loan reviews, prior to advancing warehouse funding. Of course we’re not. “…If

Lending 365

Lending Banks Bankruptcy Loans 365

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 374

Industrial Mortgages Purchase and sale agreement Banks 374

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 428

Technology Development Title Lending 428

Housing Wire

JUNE 2, 2022

NCRC has sought to gum up bank merger approvals with accusations of redlining , extracting more than $100 billion in community benefits agreements with banks. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 374

Mortgages Loan Officer Lending Principal 374

Housing Wire

MARCH 25, 2022

Presented by: Acra Lending. Pennymac has said it is making an effort to boost its consumer direct lending business. Doug Jones, president and chief mortgage banking officer at Pennymac, said at the time the new facility would boost Pennymac’s operations coast-to-coast “while supporting the organization’s overall growth initiatives.”.

Lending 384

Lending Principal Loans Banks 384

Housing Wire

AUGUST 15, 2022

The Federal Reserve Bank of New York ’s second-quarter 2022 Household Debt and Credit Report shows that limits on HELOCs jumped by $18 billion in the second quarter of this year, “the first substantial increase in HELOC limits since 2011,” and an indicator of an increase in new originations. billion in 2021 to $4.6

Equity 428

Equity Lending Fixed-rate mortgage Loans 428

Housing Wire

MARCH 1, 2021

“When rates go up, the QM market can have a visceral reaction when the supply disappears, fast, and I think that is a huge tailwind for non-QM,” said Keith Lind, Executive Chairman and President of Acra Lending. Acra Lending offers a variety of non-QM programs for borrowers in those complicated, unique situations. Flexible Programs.

Lending 327

Lending Banks Loans Investor 327

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The lender’s correspondent clients include other banks and mortgage companies.

Mortgages 366

Mortgages Lending Loans Banks 366

Housing Wire

APRIL 26, 2023

million customers and $853 billion in unpaid principal balance (UPB) at the end of March, compared to $870 billion at the end of December. Despite the reduction in the unpaid principal balance in the first quarter of 2023, Mr. Cooper won deals that will include $57 billion in MSRs in the next few months, the executive said.

Principal 344

Principal Banks Equity Loans 344

Housing Wire

OCTOBER 18, 2022

As of that date, “the outstanding amount of principal due was $220,281,891.35,” which does not include attorneys’ fees, court costs, or other out-of-pocket expenses FirstFunding believes Sprout owns. Representatives for FirstFunding and Sprout did not return requests for comments.

Loans 370

Loans Principal Mortgages Lending 370

Housing Wire

AUGUST 12, 2022

O’Donoghue has been in mortgage banking for more than 30 years and has been helping and committed to working with Senior Citizens for the last seven years. Since the Great Recession, lending practices returned to acceptable guidelines and with unemployment at a historical low point, prices aren’t crashing 30-40% as before.

Principal 330

Principal Loans Lending Banks 330

Housing Wire

OCTOBER 26, 2023

billion in unpaid principal balance (UPB) as of Sept. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. In servicing, Pennymac delivered a pretax income of $101.2 million in Q3 2023, up from $46.5 million in Q2 2023.

Fixed-rate mortgage 377

Fixed-rate mortgage Principal Banks Loans 377

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. How about we focus on big issues like affordable housing, lending to low- and moderate-income borrowers and helping first-time homebuyers achieve the American Dream in a market that’s nigh on unaffordable? All good things must end.

Industrial 450

Industrial Mortgages Principal Technology 450

Housing Wire

MAY 23, 2022

million in the first quarter this year, driven by its servicing portfolio and about $520 billion in unpaid principal balance. In the beginning of the year, Pennymac said it aimed to boost its consumer direct lending business. Pennymac reported a pretax income of $234.5 The company announced it was investing $3.9

Loan Officer 397

Loan Officer Loans Principal Mortgages 397

Housing Wire

NOVEMBER 17, 2022

According to John Bosley, president of mortgage lending at Planet Home Lending , the idea that 95% of firms will qualify for the new risk-based capital rule is a “little bit disingenuous.” “You take a few of those (20 or 25 issuers) out of the mix, and you’re down 10%, 20%, or 30% (compliant),” he said.

Marketing 371

Marketing Lending Loans Principal 371

Housing Wire

FEBRUARY 2, 2023

Kornfeld added that Pennymac’s profitability is the strongest among its rated non-bank mortgage peers now — just as it was in the previous downturn in 2018. Therefore, its results portend a challenging quarter for the non-bank mortgage sector,” Kornfeld said.

Marketing 294

Marketing Banks Principal Loans 294

Housing Wire

JULY 27, 2023

billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Throughout the quarter, Pennymac increased the number of approved correspondent seller relationships to 800, attracting sellers who had connections with commercial banks that pulled back from or recently exited the channel. million in Q2 2023, down from $57.4

Banks 282

Banks Principal Loans Commercial 282

Housing Wire

FEBRUARY 13, 2023

In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. among others. Last month, Deephaven tapped business development veteran Tyler Bohn as its managing director of national accounts. million security backed by non-QM mortgages.

Mortgages 312

Mortgages Principal Banks Equity 312

Housing Wire

AUGUST 9, 2022

That’s based on a comparison of the principal balance of the loans on the books and their fair market value as reported by the REIT as of that date. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 Combined, the closing loan-pool balance for the two securitization deals was $834.2

Marketing 369

Marketing Bankruptcy Loans Principal 369

Housing Wire

JANUARY 28, 2022

Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration ’s proposed servicing defect taxonomy.

Principal 356

Principal Loans Lending Banks 356

Housing Wire

JANUARY 26, 2022

Lenders across the board felt that they got truly high ROI from these solutions,” said Sam Ryder, principal at LLR Partners. “We are building and already know we can deliver the best wallet share acceleration program for banks and credit unions, using the same strategies we’ve done in mortgage,” Kutsishin said.

Investor 284

Investor Sales Mortgages Loan Officer 284

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. basis points of total servicing unpaid principal balance. An additional 200 basis points is charged on nonperforming loans greater than 6% of the total servicing unpaid principal balance.

Principal 369

Principal Banks Mortgages Loans 369

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. neighborhood, housing market, Fall, homes, new house sales, forbearance.

Marketing 421

Marketing Fixed-rate mortgage Loan Officer Pre-approval 421

Housing Wire

APRIL 27, 2023

Servicing “is a critically important asset and has driven much of the success that we have enjoyed in mortgage banking,” David Spector, chairman and CEO, said in a recorded earnings message. billion in unpaid principal balance (UPB) as of March 31, up 2% from December 31. million in Q1 2023, down from $37.6

Principal 352

Principal Banks Loans Mortgages 352

Calculated Risk Real Estate

SEPTEMBER 8, 2023

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 125

Closing Equity Principal Short sale 125

Housing Wire

FEBRUARY 3, 2022

In the direct lending channel, origination volume was $59.8 David Spector, Pennymac’s chairman and CEO, said that the results in the fourth quarter reflect a balanced mortgage banking model, “with pretax income from our servicing business exceeding that from our production business.”. In all, the nonbank brought in a record $234.5

Lending 250

Lending Principal Loans Technology 250

Calculated Risk Real Estate

MARCH 7, 2024

The Fed noted this increase in demand for HELOCs in the October 2022 Senior Loan Officer Opinion Survey on Bank Lending Practices : “banks reported tighter standards and stronger demand for home equity lines of credit (HELOCs).” 1 (sometimes called the Flow of Funds report) released today.

Closing 68

Closing Equity Principal Short sale 68

Housing Wire

OCTOBER 26, 2023

The company’s mortgage servicing rights portfolio (MSRs) totaled $595 billion in unpaid principal balance (UPB) as of Sept. Nierenberg said that amid the expectation of new rules, banks have to hold more capital against certain assets, which “could create opportunities for us” in the mortgage-servicing rights space.

Principal 369

Principal Loans Mortgages Banks 369