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 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. Rocket Mortgage had purchase origination volume of $47.5

Mortgages 466

Mortgages Marketing Lending Banks 466

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. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. retail residential mortgage applications.

Banks 370

Banks Mortgages Fixed-rate mortgage Loans 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. The residential mortgage loan balance for First Internet was $383.9

Banks 421

Banks Mortgages Lending Commercial 421

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 It also had $84.3

Mortgages 441

Mortgages Banks Marketing Commercial 441

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. In total, 76.6%

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. Ally is considering expanding the program to more markets in the future. “By

Banks 431

Banks Closing costs Lending Equity 431

Housing Wire

MARCH 16, 2023

After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. 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? by mid-week.

Banks 384

Banks Mortgages Fixed-rate mortgage Lending 384

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 409

Banks Lending Finance Mortgages 409

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 410

Banks Mortgages Technology Branding 410

Housing Wire

JULY 18, 2023

Under the latest rumored changes to Basel III regulations , large depository institutions would see residential mortgage capital requirements that far exceed international standards, according to a report by Bloomberg. 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

JANUARY 19, 2024

Tennessee-based community bank Patriot Bank agreed to pay $1.9 The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.

Banks 458

Banks Loan Officer Lending Loans 458

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

MARCH 19, 2023

The housing market was crazy again last week. 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? This bond market is screaming at the Fed to cut rates.

Banks 384

Banks Marketing Mortgages As-is 384

Housing Wire

NOVEMBER 15, 2023

Providence, Rhode Island-based Citizens Bank , the 28th largest U.S. mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space.

Banks 441

Banks Mortgages Finance Brokerage 441

Housing Wire

APRIL 10, 2024

HomeEquity Bank , the leading reverse mortgage lender in Canada and a Schedule I federal bank in the country, announced on Wednesday that its longtime president and CEO Steven Ranson will retire effective June 30. “We for a campaign designed to inform people about bad actors targeting seniors.

Mortgages 432

Mortgages Banks Title Design 432

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

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.

Mortgages 409

Mortgages Marketing Banks Investor 409

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

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 420

Banks Lending Loans Finance 420

Housing Wire

JANUARY 10, 2024

HomeEquity Bank , Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter Mansbridge to serve as its strategic communications consultant. In a new campaign from HomeEquity Bank launching Jan.

Mortgages 421

Mortgages Banks Marketing Staging 421

Housing Wire

SEPTEMBER 26, 2023

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day.

Banks 421

Banks Mortgages Loans Investor 421

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 370

Mortgages Banks Marketing Residential 370

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. In the first quarter of 2024, the big banks showed a challenging reality for originations. Wells Fargo’s volume declined to $3.5

Mortgages 441

Mortgages Banks Fixed-rate mortgage Lending 441

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. But then a rebound in 2024 — up 19%,” Fratantoni said.

Mortgages 496

Mortgages Marketing Banks Industrial 496

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. “It

Banks 432

Banks Marketing Lending Loans 432

Housing Wire

JANUARY 8, 2024

The mortgage market should improve in 2024 due to a combination of competitive pressures easing and mortgage demand picking up from historical lows last year, according to a note from Piper Sandler , a leading investment bank. If we were to see the labor market soften, we expect a more pronounced decline in home prices.”

Mortgages 458

Mortgages Marketing Banks Sales 458

Housing Wire

NOVEMBER 1, 2021

Mortgage lending titan Rocket Mortgage is bringing its tech straight to financial institutions. 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.

Banks 421

Banks Mortgages Loan Officer Lending 421

Housing Wire

DECEMBER 21, 2022

I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. While we are disappointed, our decision reflects the state of the capital markets. Figure Acquisition Corp.

Banks 466

Banks Mortgages Technology Lending 466

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.” Last year, Change Lending ranked as the top nonqualified mortgage (non-QM) originator, posting $4.1

Lending 421

Lending Banks Loans Renovation 421

Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Mortgages 450

Mortgages Marketing Banks Closing 450

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. Inside Mortgage Finance (IMF) first reported on the topic.

Banks 370

Banks Lending Finance Investor 370

Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. Both of those actions created artificial demand, which when removed results in dramatic market corrections.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 434

Mortgages Title Marketing Lending 434

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. HousingWire: What factors are contributing to borrowers falling out of the Agency market?

Debt-to-income ratio 431

Debt-to-income ratio Mortgages Banks Investor 431

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

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).

Banks 383

Banks Commercial Mortgages Brokerage 383