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 million as of December 31, 2022, a 13.7%

Banks 406

Banks Mortgages Lending Commercial 406

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 369

Banks Mortgages Loan Officer Residential 369

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 358

Lending Banks Mortgages Residential 358

Housing Wire

DECEMBER 3, 2021

Of the 10,000 construction of buildings jobs created in November, 4,100 were in the residential sector. In the specialty trade contractor jobs sector, 6,200 were in residential construction. for residential construction building, a faster pace than previous months,” Kushi said. Residential building is up approximately 5.8%

Residential 438

Residential Construction Banks Industrial 438

Housing Wire

JUNE 3, 2022

Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6% The post Residential construction jobs now 7.6%

Residential 450

Residential Construction Banks Renovation 450

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 374

Banks Commercial Loans Investor 374

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 363

Banks Mortgages Fixed-rate mortgage Loans 363

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 335

Banks Mortgages Commercial Lending 335

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 345

Banks Mortgages Loans Loan Officer 345

Marco Santarelli

JUNE 9, 2024

The FDIC Problem Bank List is a confidential list maintained by the Federal Deposit Insurance Corporation (FDIC) in the US. It identifies banks that are considered to be at risk of failing financially. Identification Process: Banks are assigned a CAMELS rating by FDIC examiners. These banks hold a combined total of $82.1

Banks 128

Banks Land As-is Residential 128

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 339

Mortgages Banks Marketing Residential 339

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 358

Banks Loan Officer Loans Commercial 358

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 385

Mortgages Banks Marketing Commercial 385

Housing Wire

AUGUST 30, 2021

Cadence Bancorporation , parent of Cadence Bank, reached separate settlements with the Department of Justice and the Treasury Department’s Office of the Comptroller of the Currency totaling over $8.5 The bank, based in Texas, also has branches in Alabama, Florida, Georgia and Tennessee. Specifically, Cadence will provide $4.17

Banks 392

Banks Lending Loan Officer Loans 392

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Barr said that the U.S. Barr said that the U.S.

Banks 458

Banks Commercial Residential Loans 458

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. We’ll continue to bring you wins on #blockchain in 2023.

Banks 426

Banks Mortgages Technology Lending 426

Housing Wire

JULY 13, 2022

Unfettered free market advocates view it as misguided. The Securities and Exchange Commission has begun the process of developing mandated disclosure regimes for funds that consider ESG factors in their marketing material. What does ESG’s growth and current ubiquity mean for residential MBS markets?

Residential 328

Residential Mortgages Investor Development 328

Housing Wire

NOVEMBER 1, 2021

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. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S.

Banks 387

Banks Mortgages Loan Officer Lending 387

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. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgages 357

Mortgages Marketing Banks Investor 357

Housing Wire

SEPTEMBER 5, 2023

Despite difficulties in the mortgage market at large, non-QM lenders are seeing growth and opportunity. We are not seeing a similar volume trajectory as the agency market.” They would rather invest money in the housing market than in the stock market,” he said. billion in 2023, an increase from $2.1 billion last year.

Marketing 348

Marketing Loan Officer Lending Banks 348

Marco Santarelli

JUNE 9, 2024

Whispers of a looming financial crisis have begun to circulate, casting a shadow over the once-assured stability of the US banking system. Headlines raise questions about bank insolvency, sparking anxieties among consumers and businesses alike. This article delves into the current state of the US banking system in 2024.

Banks 102

Banks Lending Loans Technology 102

Housing Wire

JULY 11, 2022

Depository bank Citi has bolstered its mortgage business with the hire of industry veteran Darin Lugat, following a reorganization of its mortgage divisions to align with the bank’s retail operations. The bank funded $6.7 billion in residential mortgages during the period, a decrease of 2.5% quarter-over-quarter and 17.2%

Lending 342

Lending Marketing Banks Residential 342

Housing Wire

MAY 30, 2024

Coldwell Banker Realty , a New England-based residential real estate brokerage , welcomed The DelRose McShane Team , the brokerage announced on Wednesday. No one else compares when it comes to brand recognition and tools to market our clients’ homes. also serves as a trustee at Watertown Savings Bank. Led by Mike DelRose Sr.,

Brokerage 411

Brokerage Residential Commercial Development 411

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. retail residential mortgage applications. “As banks reduce their willingness to hold jumbo loans, we expect this narrowing trend to continue,” Kan said. Overall, mortgage applications fell last week by 8.8%

Mortgages 367

Mortgages Fixed-rate mortgage Marketing Loans 367

Housing Wire

APRIL 7, 2023

Signs of a slowdown in the labor market have emerged, sparking hope that the Federal Reserve may stop its ongoing tightening monetary policy, which has spurred increasing mortgage rates. The slowdown in the labor market has been very gradual, according to them. Residential specialty trade contractors accounted for 7,800 of those jobs.

Marketing 366

Marketing Construction Residential Industrial 366

Housing Wire

AUGUST 4, 2023

Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. Over the month, a job gain in real estate and rental and leasing (+12,000) partially compensated for a loss in commercial banking (-3,000).

Marketing 301

Marketing Residential Construction Commercial 301

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Factors like location and condition of the property and the market demand for REO and other existing home sales, impact the current landscape for REO assets.

Due diligence 367

Due diligence Marketing Mortgages New Construction 367

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. banks in comparison to international standards.

Industrial 332

Industrial Banks Residential Lending 332

Housing Wire

JANUARY 15, 2021

Wells Fargo , the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020. decline from the prior quarter , when the bank originated $61.6 billion the San Francisco-based bank originated in the fourth quarter of 2019. billion in residential mortgages, a 12.5%

Mortgages 337

Mortgages Marketing Banks Residential 337

Housing Wire

FEBRUARY 2, 2023

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. 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. trillion to $1.9

Marketing 307

Marketing Banks Principal Loans 307

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. The data shows that the bank produced $25.3 One push was made by acquiring the jumbo leader First Republic Bank after federal regulators seized it. billion for the year from $44 billion in 2022.

Mortgages 395

Mortgages Banks Lending Equity 395

Eye on Housing

MARCH 30, 2023

According to NAHB analysis of Federal Deposit Insurance Corporation (FDIC) data, large banks (assets greater than $10 billion) have increased their share of the residential construction loan market above pre-Great Recession levels in recent years. The majority of 1-4 residential construction loans are still.

Residential 69

Residential Construction Banks Loans 69

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). One of those deals made its way to the market this year.

Equity 374

Equity Marketing Fixed-rate mortgage Finance 374

Housing Wire

JANUARY 17, 2023

The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to $65 billion in MSR portfolio offerings currently out for bid, market experts say.

Marketing 438

Marketing Banks Loans Mortgages 438

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. Anchor Loans was acquired by investment firm Pretium in November 2021.

Loans 432

Loans Investor Banks Finance 432

Housing Wire

JANUARY 23, 2024

With the acquisition , Consolidated Analytics expands its valuation solutions, offering clients tools — from data and analytics to appraisals — to predict market value and access a more comprehensive selection of collateral assessment products, the company said. Terms of the deal were not disclosed.

Due diligence 426

Due diligence Residential Real-estate owned Lending 426

Housing Wire

AUGUST 2, 2023

Its aggressive inflation-crushing policy extinguished the greatest refi market in history – these days, nearly 90% of residential mortgage originations are purchase loans. For this exercise, I’ll be relying on Inside Mortgage Finance data and looking at origination volume, purchase market share percentage and the lender’s overall mix.

Marketing 308

Marketing Lending Mortgages Residential 308