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 403

Banks Lending Finance Mortgages 403

Housing Wire

JANUARY 24, 2024

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Banks 413

Banks Lending Loans Finance 413

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 Another $700 million is expected to be invested in mortgage lending, with a focus on rural areas, the development of community mortgage loan officers, small-dollar mortgages and home improvement loans, among other products for LMI borrowers.

Banks 404

Banks Mortgages Lending Loan Officer 404

Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. The product is available for loans up to $3 million and up to 90% loan to value. No mortgage insurance will be required.

Banks 384

Banks Loans Debt-to-income ratio Lending 384

Housing Wire

APRIL 18, 2024

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. We’re seeing a downward trend in total [loans] repurchased [on a dollar basis], and that’s true for both Fannie and Freddie,” Ludden said. “I

Loans 420

Loans Due diligence Investor Technology 420

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors.

Loans 441

Loans Investor Banks Finance 441

Housing Wire

JANUARY 10, 2024

University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. University Bank has been around for 130-plus years,” he said.

Banks 441

Banks Mortgages Lending Loan Officer 441

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8 The space remains dominated by depository banks. billion in volume in 2020.

Banks 415

Banks Renovation Marketing Lending 415

Housing Wire

NOVEMBER 16, 2021

has been on a tear in 2021 when it comes to pursuing private-label securitizations, with 13 deals backed by some 22,000 home loans valued at $8 billion now under its belt through mid-November of this year. The post Flagstar is banking on the private-label market appeared first on HousingWire. Flagstar Bancorp. Already a member?

Banks 432

Banks Marketing Lending Loans 432

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 504

Loans Debt-to-income ratio Lending Banks 504

Housing Wire

JULY 18, 2023

Bank , the fourth-largest U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As Bank, owned by U.S. However, mortgage volume has been in free fall at the bank amid surging rates. The bank’s total mortgage origination volume reached $9.6

Banks 370

Banks Mortgages Residential Lending 370

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. In 2022, the housing market was a little hotter than this year due to lower mortgage rates, pushing home prices up.

Loans 533

Loans Finance Mortgages Land 533

Housing Wire

APRIL 18, 2024

The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). Those who have adopted non-QM are seeing additional loans closed each month they otherwise wouldn’t have procured.

Marketing 430

Marketing Loans Investor Banks 430

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. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023.

Banks 366

Banks Lending Finance Investor 366

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 397

Banks Commercial Loans Investor 397

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. Still, homebuyers took advantage of declining rates provoked by the turbulence and applied for home loans. It was the biggest bank failure since Washington Mutual collapsed in 2008.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 370

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 369

Banks Mortgages Commercial Lending 369

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 421

Banks Mortgages Lending Commercial 421

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. The company’s average mortgage loan was about $1.45

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

FEBRUARY 7, 2024

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. According to Inside Mortgage Finance (IMF) estimates, Flagstar originated $15.7 30 to $4.20

Mortgages 438

Mortgages Banks Marketing Commercial 438

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 432

Loans Mortgages Banks Fixed-rate mortgage 432

Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. The bonds are secured by “long-term, low-rate” loans made primarily to developers of low-income multifamily apartment complexes.

Banks 421

Banks Mortgages Loans Investor 421

Housing Wire

JANUARY 26, 2023

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I A spokesperson for Flagstar Bank did not respond to a request for comments on Thursday.

Banks 450

Banks Mortgages Lending Finance 450

Housing Wire

MARCH 16, 2023

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? Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage at 6.60% as of March 16, down 13 basis points from the previous week. .

Banks 384

Banks Mortgages Fixed-rate mortgage Lending 384

Housing Wire

APRIL 5, 2023

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S. Ultimately, the share of FHA, V.A.

Loans 410

Loans Mortgages Fixed-rate mortgage Banks 410

Housing Wire

NOVEMBER 3, 2021

market for mortgages that have been dinged up by the pandemic. The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust , has securitized some 45,000 reperforming loans valued in aggregate at $6.8 And they are truly scratch-and-dent loans. Become a member today.

Loans 362

Loans Marketing Banks Residential 362

Housing Wire

OCTOBER 10, 2023

Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. According to Amor, raising the loan limits lets G-Rate “move closer to the general market.” “But

Loans 408

Loans Banks Mortgages Finance 408

Housing Wire

MARCH 16, 2023

banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” Secretary of the Treasury Janet L. Bank will contribute $1 billion each.

Banks 441

Banks Loans Closing Sales 441

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 370

Banks Loan Officer Loans Lending 370

Housing Wire

AUGUST 14, 2023

It’s no secret that refinance (refi) volumes dropped off a cliff, and the number of homebuyers in the market has shrunk since 2022. The change of pace is probably off-putting in more ways than one, but a slowdown in refi and loan volume can mean a chance to build a new pipeline of revenue through the non-qualified mortgage (non-QM) market.

Loans 359

Loans Banks Mortgages Lending 359

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. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 407

Mortgages Marketing Banks Investor 407

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 457

FHA loan Loans Finance Mortgages 457

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We It’s the first time that we’re now sharing free cash flow targets.

Banks 421

Banks Mortgages Loans Investor 421

Housing Wire

JULY 18, 2023

The Federal Reserve , Federal Depository Insurance Corporation and the Office of the Comptroller of the Currency , which together regulate large depository banks, are expected to unveil the proposed changes on July 27. The regulators want smaller banks to be able to better compete with larger peers, Bloomberg reported.

Lending 370

Lending Banks Mortgages Residential 370

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 384

Loans Debt-to-income ratio Banks Mortgages 384

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So

FHA loan 441

FHA loan Loans Loan Officer Mortgages 441

Housing Wire

JUNE 3, 2022

Lakeview Loan Servicing unveiled a rare private-label securities offering this past March involving a pool of mostly delinquent mortgages serviced by the company. The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. In total, 99.3% In total, 99.3%

Loans 397

Loans FHA loan Principal Marketing 397