Two Southern banks complete mortgage eNote transfer

Housing Wire

Going forward, FHLBank Atlanta will accept all eNotes, per bank officials. eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally.

Banks 308

Florida community bank launches mortgage arm

Housing Wire

Amerant Bank , one of the largest community banks in Florida, announced that it is venturing into the mortgage industry with the formation of Amerant Mortgage. The company said this expansion was a direct response to the state’s growing demand for residential mortgages.

Banks 288
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New York Community Bank to acquire Flagstar

Housing Wire

New York Community Bank , one of New York City’s largest multifamily lenders, is set to diversify its business strategy with the acquisition of Michigan-based retail bank Flagstar Bancorp. The bank’s stock price was trading at a 26% discount to book value in late January.

Banks 322

Cornerstone Home Lending to acquire Roscoe State Bank

Housing Wire

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The name Roscoe State Bank will be kept at the Bastrop , Texas locations. No mortgage data was available for 2020.

How did Wells Fargo and Bank of America’s mortgage businesses perform in the third quarter?

Housing Wire

The bank originated $62 billion in home loans during the third quarter, up 5% from $59 billion in the prior quarter. In the third quarter of 2019, Wells Fargo originated $58 billion in mortgages. Though rival Bank of America posted a $2.1 Wells Fargo Mortgage

Banks 387

Flagstar Bank to back trio of mortgage-tech startups

Housing Wire

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. The post Flagstar Bank to back trio of mortgage-tech startups appeared first on HousingWire.

Banks 328

Regions Bank places $1B bet on home renovation market

Housing Wire

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.

U.S. Bank’s Fred Bolstad to speak at Spring Summit

Housing Wire

Bank Home Mortgage , will speak on a panel titled What Mortgage Tech is Solving Now at HousingWire’s Spring Summit on March 4. Bank Home Mortgage, Bolstad is responsible for over 4,000 employees, including nearly 1,400 mortgage loan officers.

Banks 306

TIAA Bank to sell its correspondent biz to PenFed

Housing Wire

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. The deal represents the latest mortgage space exit for the Jacksonville-based financial firm. TIAA has focused on digital mortgages since then.

Banks 195

People movers: Gateway First Bank, Promontory MortgagePath and Mortgage Solutions Financial

Housing Wire

Gateway First Bank officially named Scott Gesell CEO and general counsel after serving as CEO on an interim basis since April 3. Most recently, he served as vice president of operations at Mortgage Solutions Financial where he helped the company break multiple sales records.

Banks 298

People movers: InterLinc Mortgage Services, Invictus Capital Partners, Western Alliance Bank

Housing Wire

Kicking off this week’s string of senior leadership hires, InterLinc Mortgage Services promoted to CEO Gene Thompson, who has served as president since 2010. The post People movers: InterLinc Mortgage Services, Invictus Capital Partners, Western Alliance Bank appeared first on HousingWire.

Banks 247

US Bank Mortgage Review for 2020

The Mortgage Report

Review of US Bank Mortgage showing how the company compares to other top lenders for mortgage rates, service, complaints, and loan products.

Banks 87

How student lending can benefit non-bank lenders

Housing Wire

Over the last several years, non-bank mortgage originators have established a much larger market share. Additionally, non-bank servicers have more than doubled their ownership of servicing rights in the last 10 years.

Bank of America Mortgage Review for 2021

The Mortgage Report

Bank of America mortgage review showing how the company compares to other top lenders for mortgage rates, customer service, and loan options. Mortgage Lender Reviews Mortgage Products

Banks 87

Where to find bank statement loans for self-employed mortgage borrowers

The Mortgage Report

Bank statement loans can help self-employed mortgage borrowers qualify for a bigger home loan. Here's how to find a safe, low-rate bank statement loan.

Banks 94

Mortgage broker vs. bank or mortgage lender: Which is best?

The Mortgage Report

Do you get better mortgage rates from a mortgage broker or a bank? About Mortgages Gina Pogol mortgage rates mortgages Real EstateWhat's the difference? Find out which one is better for your situation.

Banks 87

Mortgage rates jump to 2.81%

Housing Wire

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey.

2021 Rising Star Matt Jones: Reshaping the mortgage industry

Housing Wire

He formerly served as senior counsel for the Senate Committee on Banking, Housing, and Urban Affairs, and currently, he serves as senior counsel for the U.S. The post 2021 Rising Star Matt Jones: Reshaping the mortgage industry appeared first on HousingWire.

Independent mortgage banks made more money than ever in 2020

Inman

Independent mortgage banks' profits surpassed previous year by nearly 186 percent, according to the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report.

Banks 119

Bank of America triples affordable homeownership pledge to $15B

Inman

The lender aims to help more than 60,000 low- and moderate-income homebuyers with low down payment mortgages as well as down payment and closing cost grants. Mortgage affordable mortgage america's home grant bank of america bank of america real estate center closing costs d.

Banks 139

Volume-hungry mortgage lenders loosen credit standards

Housing Wire

Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1

Higher mortgage rates symbolize an economy rejuvenated

Housing Wire

Globally speaking, things look much different roughly a year later – jobs are returning by the millions, a series of viable vaccines are being deployed across America, stimulus checks have hit bank accounts and mortgage rates are ascending rapidly from nearly a year of historic lows.

Better.com’s Vishal Garg talks the future of banking, tech stacks and a customer-friendly IPO

Housing Wire

” The one-on-one conversation with Azevedo touched upon the structure of Better’s strategic partnerships , the future of retail banking , how COVID-19 has changed the fundamentals of business, and the proper integration of a tech stack.

Banks 285

Prepare for the rise in mortgage rates

Housing Wire

As the calendar flipped to 2021, it didn’t take long for the rise in mortgage rates. Just two weeks into the new year, Freddie Mac reported that mortgage rates climbed 14 basis points to 2.79% , a dramatic contrast to 2020, a year in which mortgage rates set record lows 16 times.

A Large Canadian Bank Just Blamed The Bank of Canada For The Property Bubble

Better Dwelling

One of Canada’s largest banks made an unusual move — they called out the role the Bank of Canada (BoC) played in the property bubble. The post A Large Canadian Bank Just Blamed The Bank of Canada For The Property Bubble appeared first on Better Dwelling.

Banks 114

JPMorgan Chase’s mortgage business getting back to normal

Housing Wire

JPMorgan Chase doesn’t see mortgage defaults worsening in the second half of 2020. In its earnings presentation on Tuesday , the nation’s largest bank by assets said it had actually pared back its $15 billion in loan-loss reserves by $569 million in the third quarter.

JPMorgan Chase has a plan to increase purchase mortgage business

Housing Wire

In April, with the coronavirus pandemic raging across the country, leaders at JPMorgan Chase made the call: the bank was going to significantly tighten mortgage lending standards. The lender also amped up its push toward digital mortgages.

Tech Rundown: Black Knight, Blend and Evolve Mortgage

Housing Wire

With 2020 finally coming to a close, several companies wrapped up this unprecedented year for housing with some brand-new mortgage tech for 2021. Today’s secondary mortgage market is one marked by intense volatility and fierce competition,” said Happ.

Mortgage rates decline this week

Housing Wire

mortgage rate for a 30-year fixed loan is 2.88% this week, falling from last week’s 2.9% , Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.36%, falling from last week’s 2.4% The average U.S.

Canadian Bank Regulator Readies To Reverse Extra Pandemic Mortgage Leverage

Better Dwelling

The Office of the Superintendent of Financial Institutions (OSFI) announced they are moving to tighten uninsured mortgage leverage. The organization that regulates Canada’s banks, eased the mortgage stress test last year.

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Ex-MBA president McCord pleads guilty to mortgage fraud

Housing Wire

The founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also the president of the Mortgage Bankers Association in the late 1990s, pleaded guilty to five counts of bank fraud, money laundering and false statements to a financial institution.

Mortgage lenders loosened credit standards in May

Housing Wire

Mortgage credit availability increased by 1.4% in May – a sign that volume-hungry lenders continued to loosen credit standards in a highly competitive market, according to Thursday data from the Mortgage Bankers Association.

Compass loses money, explores mortgage

Housing Wire

Compass CEO Robert Reffkin said that the brokerage is “expanding our adjacent service business” into title and escrow, and “plans to provide” mortgage services. Lloyd Walmsley, an analyst at Deutsche Bank , asked what inroads the company has made on title, and how it plans to enter mortgage.

Veritex buys 49% stake in Thrive Mortgage

Housing Wire

The parent company of Veritex Community Bank will acquire a 49% stake in Texas-based mortgage lender Thrive Mortgage , the firms announced late Tuesday afternoon. Veritex is one of Texas’ largest banks, with $8.8

Bank statements: 3 things mortgage lenders don’t want to see

The Mortgage Report

Bank statements say a lot about a mortgage applicant. About Mortgages Mortgage Strategy Gina Pogol Housing Mortgage mortgage rates Real EstateCheck for 3 common issues when turning your account paperwork in to your lender.

Banks 91

Mortgage forbearance ticks down to 5.14%

Housing Wire

The industry is now less than two weeks away from the one-year anniversary of the CARES Act, which provided borrowers with federally backed mortgages the option to receive forbearance for up to 180 days. After many extensions and exits, the Mortgage Bankers Association estimates 2.6

LoanDepot forms joint venture with Farm Bureau Bank

Inman

Industry News Mortgage Partnership Select anthony hsieh Dominick Deorio Farm Bureau Farm Bureau Bank Jeff Walsh loanDepot William HilemanAs lenders pivot from refinancings to purchase loans, loanDepot builds on its track record of partnering with homebuilders.

Banks 88

Ginnie Mae will ban LIBOR-based mortgages

Housing Wire

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January.

The growing support for female mortgage executives

Housing Wire

After speaking with several other female mortgage executives in celebration of International Women’s Day, I wanted to take the opportunity to highlight a few women leaders who are making waves. Mortgage servicers take steps to support borrowers amid COVID-19.

Bank of Canada’s Mortgage Buying Is A Quarter The Size of New Mortgage Credit

Better Dwelling

Canada’s central bank is using billions to flood the mortgage market with cheap money. Bank of Canada (BoC) data shows a big mortgage bond buying spree since the beginning of the pandemic. Canada Bank of Canada Canadian Mortgages Canadian Real Estate Prices

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