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 308

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 266
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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 393

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 329

Mr. Cooper, U.S. Bank and PNC Bank settle DOJ servicing case

Housing Wire

Bank and PNC Bank. “The failure of mortgage servicers to comply with those requirements compromises the integrity of the bankruptcy system and the ability of homeowners to receive a fresh start,” said Cliff White, the director of DOJ’s U.S.

Banks 355

Cadence Bank reaches settlement with DOJ over redlining

Housing Wire

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.

Banks 332

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 284

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 311

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 344

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 264

Banks offer exposure to mortgage risk — and investors want in

Inman

Banking & Lending Investing Markets & Economy Mortgage bonds citigroup extra-credit interest rates jpmorgan chase mortgages risk-transfer securities Texas Capital BankThe new bond products offer higher yields in a low-interest-rate environment.

Banks 138

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.

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 251

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 74

Mortgage rates still flat at 2.86%

Housing Wire

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.”

Canadian Mortgage Quality Has “Deteriorated”: Bank of Canada

Better Dwelling

Canada used to be known for its conservative mortgage lending, but that’s no longer the case. The Bank of Canada (BoC) warned mortgage quality has “deteriorated” in 2020. Canada Bank of Canada Canadian Mortgages Canadian Real Estate Prices OSFI

Banks 114

Mortgage lenders are loosening standards on jumbos

Housing Wire

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. Overall, feedback from participants – 75 domestic banks and 22 U.S.

North American Savings Bank (NASB) Mortgage Review for 2021

The Mortgage Report

Review of North American Savings Bank mortgages showing how NASB compares to other top lenders for mortgage rates, loan options, and service. Mortgage Lender Reviews

Banks 83

Finicity expands mortgage verification with ICE integration

Housing Wire

Finicity , an open-banking solutions provider that was acquired by Mastercard in 2020, announced a partnership with its one-touch Mortgage Verification Service and ICE Mortgage Technology on Thursday. With the integration, the one-touch Mortgage Verification Service.

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 84

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 91

Unlicensed mortgage broker defrauded wholesale lenders

Housing Wire

A 50-year-old former unlicensed mortgage broker from Long Island, New York, pleaded guilty Wednesday to defrauding clients and wholesale lenders out of $4.7 million in mortgage refinancing proceeds that were supposed to pay off existing client mortgages.

Mortgage rates hold steady at 2.87%

Housing Wire

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. Treasury bonds and mortgage backed securities.

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

Paramount Bank Mortgage Review for 2021

The Mortgage Report

Paramount Bank mortgage review showing how Paramount compares to other top lenders for mortgage rates, customer service, and loan options.

Banks 66

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 337

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.

Mortgage rates stuck in a rut at 2.87%

Housing Wire

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates also held steady at 2.87%. Mortgage applications fell 2.4%

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.

Mortgage rates dip slightly to 2.88%

Housing Wire

The average 30-year fixed-rate mortgage fell two basis points from the week prior to 2.88%, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points.”.

Mortgage rates dip slightly to 2.86%

Housing Wire

The average 30-year fixed-rate mortgage declined slightly to 2.86% for the week ending in August 19, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates rose to 2.87% , after six consecutive weeks of mortgage rate declines.

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

Mortgage rates stuck at 2.88% amid rise in COVID cases

Housing Wire

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%.

Citi adds Liz Bryant to mortgage exec team

Housing Wire

Depository bank Citi continues to round out its mortgage executive team under the stewardship of Brad Wayman. Citi announced this week that it had appointed industry veteran Liz Bryant as the new head of retail mortgage sales for the U.S. The bank funded $33.94