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. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.

Banks 441

Banks Mortgages Lending Loan Officer 441

Housing Wire

NOVEMBER 15, 2023

Providence, Rhode Island-based Citizens Bank , the 28th largest U.S. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. However, shrinking mortgage volume caused by high mortgage rates and fiercer competition have challenged the bank’s strategy.

Banks 441

Banks Mortgages Finance Brokerage 441

Housing Wire

JANUARY 30, 2024

Cincinnati-based First Financial Bank has agreed to direct $2.4 In its previous five-year plan, from 2018 to 2023, the bank invested $1.75 Regarding the plan governance, the bank will maintain the advisory board created under the 2018 plan, and NCRC will appoint half the members.

Banks 409

Banks Mortgages Lending Loan Officer 409

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

FEBRUARY 6, 2024

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. In addition, the bank discouraged these customers from obtaining home loans, according to the complaint.

Banks 410

Banks Lending Loan Officer Loans 410

Housing Wire

NOVEMBER 16, 2021

A pending merger with a New York bank boasting $58 billion in assets, once finalized, promises to further bolster Flagstar’s activity in the private-label space in the year ahead. Troy, Michigan-based Flagstar, a federal savings bank with some $27 billion in assets, and New York Community Bancorp (NYCB) announced plans to merge in April.

Banks 432

Banks Marketing Lending Loans 432

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. The bank has presence in 15 states and Washington, D.C. The bank’s plan also includes $2.8

Banks 420

Banks Lending Loans Finance 420

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. The EnerBank team, led by Charlie Knadler, will join Regions as part of its consumer banking group reporting to Peters. The space remains dominated by depository banks.

Banks 420

Banks Renovation Marketing Lending 420

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. The bank had $1.7

Banks 370

Banks Lending Finance Investor 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 370

Banks Mortgages Commercial Lending 370

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 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). We are excited to expand our impact and better serve our target market borrowers.” Change is a community development financial institution (CDFI) that is certified by the U.S.

Lending 421

Lending Banks Loans Renovation 421

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

JANUARY 5, 2024

California-based Pennymac Financial Services has hired Kristy Dickey, a former executive at Citizens Bank, as first vice president of TPO sales. market share in the TPO space. Dickey will be responsible for growing the lender’s broker division and support its brokers and non-delegated partners, the firm said.

Banks 421

Banks Mortgages Finance Sales 421

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. A potential pause on the Federal Reserve’s federal funds rate hikes may bring borrowers on the sidelines back to the market, as mortgage rates could fall even further.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 370

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Banks 383

Banks Commercial Mortgages Brokerage 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 397

Banks Commercial Loans Investor 397

Housing Wire

JUNE 28, 2023

United Wholesale Mortgage (UWM) announced this week that it has added four bank statement loan offerings for self-employed borrowers. To qualify for loans of up to $3 million with up to 90% loan-to-value (LTV), self-employed borrowers can now provide bank statements to verify income rather than tax returns, W2s or pay stubs.

Banks 370

Banks Loans Lending Mortgages 370

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. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Banks 421

Banks Mortgages Lending Commercial 421

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

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. was open for business. They took a $1.8

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

MARCH 22, 2023

The Federal Reserve (Fed) has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets. banking system is sound and resilient. Powell, however, said the weaknesses at SVB are not broadly present in the banking system. “The U.S.

Banks 410

Banks Lending Mortgages Commercial 410

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Banks 384

Banks Mortgages Loan Officer Residential 384

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. BlackRock Financial Market Advisory had preliminary conversations with investors about the bonds, the report said, citing unnamed sources.

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

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

MAY 4, 2023

Toronto-based TD Bank Group and Memphis, Tenn.-based billion, would have led to TD Bank acquiring First Horizon, facilitating TD Bank’s broader entry into the U.S. billion, would have led to TD Bank acquiring First Horizon, facilitating TD Bank’s broader entry into the U.S.

Banks 369

Banks Industrial Closing As-is 369

Housing Wire

FEBRUARY 8, 2024

To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved in the reverse mortgage business for the first time since the early 2010s. national bank, a large bank [that is considering entering] reverse.

Banks 410

Banks Mortgages Technology Branding 410

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The post Fifth Third Bank unveils new warehouse lending business appeared first on HousingWire.

Lending 384

Lending Banks Commercial Finance 384

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 billion in mortgages in 2023.

Mortgages 441

Mortgages Banks Marketing Commercial 441

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending.

Lending 441

Lending Banks Loan Officer Loans 441

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). In addition to stealth underwriting skills, it is imperative to respond to changes in the market proactively.

Marketing 431

Marketing Loans Investor Banks 431

Housing Wire

JUNE 30, 2022

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. Daiwa Capital Markets America Inc., $1.4 Morgan Stanley & Co. LLC , $965,803. Sourcepoint Inc.,

Bankruptcy 370

Bankruptcy Banks Finance Lending 370

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 384

Banks Loan Officer Loans Commercial 384

Housing Wire

SEPTEMBER 23, 2022

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). . Many community banks do a great job of mortgage lending to underserved homebuyers. So why would we extend it to IMBs?

Banks 370

Banks Lending Loans Mortgages 370

Housing Wire

OCTOBER 11, 2021

The largest depository bank in Indiana, Old National Bank , is being sued for alleged redlining practices that spanned more than a decade. According to FHCCI, out of the 2,250 mortgage loans made by the bank from 2019 to 2020, a measly 37 were to Black borrowers across the entire Indianapolis market. million and $23.6

Banks 410

Banks Lending Loan Officer Loans 410

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