Housing Wire

OCTOBER 18, 2024

Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. Additionally, all loans currently locked must be funded by the lock expiration date. Relatedly, Fannie Mae and Freddie Mac have blacklisted a number of condo buildings in South Florida that it won’t back loans for. PST on Oct.

Mortgages 524

Mortgages Marketing Lending Finance 524

Housing Wire

APRIL 1, 2025

Mechanics Bank and HomeStreet Inc. Under the terms of the merger which was unanimously approved by the boards of directors of both companies HomeStreet Bank will be merged with and into Mechanics Bank. Webb, chairman of the board of directors of Mechanics Bank, said in a statement.

Banks 383

Banks Due diligence Pre-approval Equity 383

Housing Wire

JANUARY 21, 2025

The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Last week, our first class was led by Jen Peachman from GVC Mortgage. 15 and goes until the end of April, Hoffman told HousingWire.

Banks 370

Banks Mortgages Lending Residential 370

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash. Finance a loan, and you may lose money.

Loans 315

Loans Mortgages Equity Construction 315

Housing Wire

FEBRUARY 4, 2025

Cornerstone Capital Bank , a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. ” The Community Lending Division will offer mortgage programs and products tailored to benefit underserved borrowers.

Lending 319

Lending Banks Mortgages Loans 319

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. The interest rate on the loan has been lowered from 9.99% to 9.49%. The interest rate on the loan has been lowered from 9.99% to 9.49%.

Mortgages 434

Mortgages Equity Loan Officer Loans 434

Housing Wire

NOVEMBER 13, 2024

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. This interview has been edited for length and clarity.

Mortgages 370

Mortgages Sales Loan Officer Lending 370

Housing Wire

JANUARY 14, 2025

Mortgage rates continued their ascent this week after Fridays jobs report showed that employers added more positions than expected in December, which is likely to cement a pause on interest rate cuts by the Federal Reserve later this month. The 15-year conforming loan rate averaged 7.34% on Tuesday up an astonishing 23 bps in the past week.

Mortgages 418

Mortgages Banks Loans As-is 418

Housing Wire

FEBRUARY 24, 2025

The ongoing legal dispute between Texas Capital Bank (TCB) and Ginnie Mae added a new chapter this week. The bank is opposing a government request for a summary judgment that would hand a victory to Ginnie Mae, according to court filings reviewed by HousingWire s Reverse Mortgage Daily (RMD). In the new filing issued on Feb.

Banks 327

Banks Mortgages Lending Equity 327

Housing Wire

APRIL 1, 2025

Today, A&D Mortgage announced the official closing of its acquisition of the wholesale and non-delegated correspondent mortgage business from Mr. Cooper Group. Cooper previously acquired the wholesale and nondelegated mortgage business assets as part of its Flagstar Bank transaction in November 2024.

Closing 391

Closing Mortgages Lending Banks 391

Housing Wire

APRIL 28, 2025

VantageScore credit score usage by the mortgage industry dropped in 2024, ahead of widespread changes expected in credit reporting in the coming years. The mortgage industry accounted for 1.2% But when considering only mortgage originations, the usage of the credit score surged by 166% in 2024, according to the data.

Mortgages 343

Mortgages Loans Banks Industrial 343

Housing Wire

JANUARY 8, 2025

California -based direct lender AmeriTrust Mortgage announced a new addition to its leadership team. The company welcomed veteran mortgage executive Jett Farrington this week as its new chief operating officer. billion in loans in 2024, according to an Instagram post on the company’s website.

Mortgages 397

Mortgages Loans Industrial Banks 397

Housing Wire

APRIL 3, 2025

A lawsuit over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender has been brought to an end with a summary judgment, but the plaintiffs in the case have vowed to appeal the decision. The suit was filed by Texas Capital Bank (TCB) against Ginnie Mae in late 2023. It chose mortgages.

Banks 264

Banks Principal Mortgages Lending 264

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.

Lending 448

Lending Loan Officer Banks Loans 448

Housing Wire

AUGUST 2, 2024

OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc. which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s website and social media page reflect the status of a “division of OceanFirst Bank N.A.” billion in 19,000 loans since its foundation.

Banks 467

Banks Loans Loan Officer Lending 467

Housing Wire

OCTOBER 22, 2024

Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls’ prior experience spans several companies — including Movement Mortgage and WR Starkey Mortgage.

Lending 430

Lending Mortgages Loan Officer Development 430

Housing Wire

JANUARY 30, 2025

Sage Home Loans Corp. “We are thrilled to welcome Bijoy John as the new Senior VP of Marketing at Sage Home Loans Corporation,” Sage Home Loans’ CEO Mike Malloy said in an email. The veteran mortgage marketer has worked for companies like Freedom Mortgage , Newrez and Rate , his most recent company.

Loans 366

Loans Marketing Lending Banks 366

Housing Wire

NOVEMBER 14, 2024

CrossCountry Mortgage , a top-10 U.S. mortgage lender, has hired a team of former Pennymac Financial Services executives to lead its capital markets and investment-related activities. During that time, he helped with credit risk transfer transactions and the first mortgage servicing rights (MSR) securitizations.

Mortgages 370

Mortgages Loan Officer Loans Banks 370

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. compared to the same period last year, according to Inside Mortgage Finance (IMF). The announcement was made Wednesday.

Mortgages 370

Mortgages Loan Officer Finance Lending 370

Housing Wire

NOVEMBER 20, 2024

In August 2023 , the bank disclosed it was under investigation by the Department of Housing and Urban Development (HUD) after the nonprofit organization filed a complaint alleging violations of the U.S. and we are honored to support these efforts through our loans, investments and grants.” million to certain California markets.

Loan Officer 418

Loan Officer Lending Banks Loans 418

Housing Wire

FEBRUARY 3, 2025

The Tech100 Mortgage award recognizes the most innovative and impactful organizations driving the mortgage industry forward. More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending.

Mortgages 416

Mortgages Title Lending Loans 416

Housing Wire

DECEMBER 4, 2024

Top 10 mortgage lender Rate — previously known as Guaranteed Rate — announced a new promotion on Wednesday. The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. Most recently, Lindsay served as a mortgage loan officer at U.S.

Lending 397

Lending Mortgages Loan Officer Loans 397

Housing Wire

APRIL 8, 2025

Income verification Truework today announced the appointment of Randy Lightbody as its head of mortgage, a position that the company describes as being “newly created.” He also co-founded the AI -powered mortgage underwriting system Candor and held the role of Managing Director at Accenture.

Due diligence 353

Due diligence Mortgages Technology Banks 353

Housing Wire

MAY 28, 2024

FDIC) this month announced a settlement with Arkansas-based Bank of England over alleged violations of the Federal Trade Commission Act, the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA) and the Home Mortgage Disclosure Act (HMDA). The bank has been issued an order to pay a civil penalty of $1.5

Banks 457

Banks Mortgages VA loan Loan Officer 457

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 497

Residential Lending Banks Mortgages 497

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 468

Loans Mortgages Due diligence Banks 468

Housing Wire

APRIL 4, 2025

Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. The revised LTVs could allow previously ineligible borrowers to have a renewed conversation about securing a loan, the company explained.

Mortgages 304

Mortgages Principal Loans Equity 304

Housing Wire

JULY 16, 2024

Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. billion in first mortgages from April to June, up 66.3% billion in home loans.

Banks 430

Banks Mortgages Equity Loans 430

Housing Wire

APRIL 21, 2025

Veteran mortgage executive Randell Gillespie has been named president of Kansas City -based mortgage shop LeaderOne. Gillespie joins LeaderOne following a long stint at Thrive Mortgage and Lower , which merged in early 2024. According to Home Mortgage Disclosure Act data , LeaderOne originated $1.32 billion last year.

Loan Officer 397

Loan Officer Banks Mortgages Loans 397

Housing Wire

JANUARY 17, 2025

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. We took a very careful and measured approach to finding a potential partner to grow our QM business, Max Slyusarchuk , CEO of A&D Mortgage, said in a statement.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. That is where the Freddie Mac second mortgage comes in.

Loans 448

Loans Mortgages Banks Lending 448

Housing Wire

JANUARY 31, 2025

Evergreen Home Loans , which is based in Washington state and has a presence in seven Western states, announced a major expansion of its footprint on Friday. John Porath “John’s leadership and ability to connect with loan officers will be instrumental in driving our core conviction of growth and success for the region.

Loans 310

Loans Loan Officer Construction Banks 310

Housing Wire

MARCH 3, 2025

Bank7 is expanding its mortgage reach in Oklahoma. The community bank has completed its acquisition of First American Mortgage, Inc. , a small mortgage lender and brokerage based in the suburbs of Oklahoma City. Yukon-based First American Mortgage, Inc. Yukon-based First American Mortgage, Inc.

Mortgages 282

Mortgages Bankruptcy Title Banks 282

Housing Wire

MARCH 3, 2025

Union Home Mortgage (UHM) on Monday announced its acquisition of Nations Reliable Lending , aka NRL Mortgage. By coming together, we expand the reach of that promise further, while also continuing to build a unique workplace culture in the mortgage industry,” UHM CEO Bill Cosgrove said in a statement.

Mortgages 284

Mortgages Loan Officer Lending Banks 284

Housing Wire

MARCH 25, 2025

What’s the deal with all the discussion across the lending community about the fluctuation of the loan officer population recently? There have been social media posts and editorials debating the current total number of loan officers, whether the population has decreased, and if so, by how much.

Loan Officer 211

Loan Officer Loans Mortgages Industrial 211

Housing Wire

MAY 24, 2024

Bank appointed John Hummel to lead its East market for retail home lending. Bank, will now oversee a team of 750 sales managers and mortgage loan officers responsible for generating $7 billion in originations, according to a news release. Bank is a consumer and business banking company owned by US Bancorp.

Banks 454

Banks Lending Loan Officer Loans 454

Housing Wire

APRIL 18, 2025

The company analyzed a portfolio of residential , commercial and business-purpose loans totaling approximately $80 billion. of these transactions contained issues that could lead to fraud, with each problematic loan averaging 2.5 It found that 46.8% errors the highest number on record.

Title 355

Title Closing Commercial Loans 355