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). . Instead, there are more effective ways to increase mortgage lending to underserved and minority borrowers.

Banks 309

Banks Lending Loans Mortgages 309

Housing Wire

MAY 1, 2024

Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA). Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA).

Mortgages 345

Mortgages Finance Industrial Loan Officer 345

Housing Wire

JANUARY 11, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage , a subsidiary of HomeServices of America , promoted Justin Messer to president and CEO on January 1, 2023. Long & Foster Companies is a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate. About 81.7%

Mortgages 349

Mortgages Banks Loans Lending 349

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. billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. The space remains dominated by depository banks. in 2021 to $433 billion.

Banks 325

Banks Renovation Marketing Lending 325

Housing Wire

MAY 15, 2024

According to the newest Bank of America Homebuyer Insights Report , 72% of respondents worry about potential rent hikes impacting their finances. Given the highly competitive homebuying market, renters are unsure whether now is the right time to buy,” Matt Vernon, head of consumer lending at Bank of America, said in a statement.

Banks 359

Banks Lending Finance Marketing 359

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 317

Mortgages Banks Marketing Residential 317

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 million for redlining practices, according to the federal government. To address these grievances, Cadence has agreed to invest over $5.5

Banks 378

Banks Lending Loan Officer Loans 378

Housing Wire

APRIL 9, 2024

The Community Home Lenders of America (CHLA) applauds these initiatives. With the Federal Reserve gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. Homeownership is used far too often as the federal piggy bank.

FHA loan 425

FHA loan Loans Title Mortgages 425

Housing Wire

JULY 18, 2022

new jobs hiring, housing jobs, recruiting for mortgage industry. Based on the headlines, one might assume the mortgage business is a complete disaster. Some mortgage companies will merge to stay afloat, and many others will go under. Bank, Citi and Bank of America looking to expand the ranks of LOs.

Mortgages 441

Mortgages Banks Brokerage Loans 441

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

MARCH 16, 2023

How is today’s housing starts data , which beat expectations, good for mortgage rates ? Regarding mortgage rates and bonds, since the banking crisis started with a run on Silicon Valley bank last week , bond yields have been heading lower and are now testing my Gandalf line in the sand of 3.42%.

Mortgages 491

Mortgages Construction Banks Sales 491

Housing Wire

DECEMBER 4, 2023

According to Bank of America ’s 2023 Homebuyer Insights report, only 62% of prospective homebuyers are willing to wait for home prices and/or rates to fall, down from 85% in June 2023. mortgages had an interest rate below 5%, according to Zillow. Meanwhile, the average 30-year fixed mortgage rate topped 8% in October.

Marketing 391

Marketing Banks Lending Mortgages 391

Housing Wire

APRIL 9, 2024

Last month, Northeast regional lender WSFS Mortgage released the results of a survey that measured reverse mortgage product sentiments. To get a better idea of what motivated the survey and its desire to learn more about reverse mortgages, RMD sat down with WSFS Mortgage President Jeffrey Ruben.

Mortgages 326

Mortgages Equity Banks Brokerage 326

Housing Wire

FEBRUARY 8, 2024

Bloomberg also reported that several banks, including JPMorgan Chase & Co. and Bank of America Corp. E-signature company DocuSign laid off 6% of its workforce, or about 400 employees, following reports that the fintech company’s talks in exploring a sale have stalled. DocuSign had 7,336 employees at the end of 2023.

Sales 378

Sales Banks Technology Investor 378

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. This is what we do in America. People’s first reaction was to wonder if this was 2008 all over again. It’s not an investment.”.

Loans 542

Loans Banks Equity Closing costs 542

Housing Wire

APRIL 13, 2022

Despite advances in technology, the mortgage industry still lacks efficiency. Mortgage executives are aware of a problem: despite billions of dollars in technology investments , the mortgage industry still largely looks like it did two decades ago. We have organizations [working] to create some standardization.

Mortgages 363

Mortgages Banks Technology Finance 363

Housing Wire

SEPTEMBER 11, 2023

She gives a very thorough explanation as to why the 30/10 spread is so high, stating, “Before and during the Great Financial Crisis, the Fannie Mae and Freddie Mac portfolios essentially served as shock absorbers, buying mortgage-backed securities, or MBS, when spreads were wide, selling when they narrowed.

Mortgages 437

Mortgages Purchase and sale agreement Banks Finance 437

Housing Wire

APRIL 28, 2021

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 Veritex is one of Texas’ largest banks, with $8.8 Presented by: Proctor Loan Protector.

Mortgages 346

Mortgages Lending Banks Loans 346

Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 billion in penalties to settle a civil action alleging misconduct related to the underwriting, issuance and sale of residential mortgage-backed securities (RMBS) before the 2008 financial crisis. The settlement with the U.S. It acquired the rival this year for $3.4

Due diligence 302

Due diligence Banks Loans Investor 302

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgages 340

Mortgages Marketing Lending Construction 340

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

Loans 359

Loans Mortgages Loan Officer Pre-approval 359

Housing Wire

FEBRUARY 27, 2024

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex. Of the total, 53.6%

FHA loan 379

FHA loan Loan Officer Loans Staging 379

Housing Wire

MAY 14, 2024

The Community Home Lenders of America (CHLA) applauds these initiatives. With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. Homeownership is used far too often as the federal piggy bank.

FHA loan 295

FHA loan Loans Title Mortgages 295

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgages 358

Mortgages Loan Officer Banks Lending 358

Housing Wire

JULY 11, 2022

Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS). Kumar was a manager at Standard Chartered Bank from 2002 to 2004. According to Kumar, it works like a “C-suite in a box,” but with an independent perspective. .

Mortgages 303

Mortgages Technology Banks Lending 303

Housing Wire

MAY 23, 2023

Among mortgage brokers, Cohen ranked first. The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Cohen funded $751.4 It’s a two-sided market here.

Mortgages 311

Mortgages Marketing Loans Banks 311

Housing Wire

APRIL 19, 2022

Bank of America will pay a penalty smaller than the average down payment on a Fannie Mae -backed mortgage, after one of its mortgage loan officers allegedly violated the Fair Housing Act. The bank — which yesterday reported a net income of $7.1 The bank — which yesterday reported a net income of $7.1

Banks 354

Banks Loan Officer Loans Mortgages 354

Housing Wire

FEBRUARY 27, 2024

As diverse as any other ethnicity, many Black Americans are, at their core, hard-working, family-centric, church members who live, for the most part, in urban areas. Black History Month is a time set aside to recognize and celebrate the contributions, achievements, and history of African Americans throughout U.S. But it wasn’t enough.

Banks 391

Banks Loans Land Commercial 391

Housing Wire

APRIL 10, 2024

The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy , according to a report by Bloomberg. Both the mortgage industry and the title industry have not taken kindly to the news of the CFPB’s latest proposal.

Title 426

Title Closing costs Equity Mortgages 426

Housing Wire

DECEMBER 20, 2022

Wells Fargo , the largest depository mortgage lender in America, has agreed to pay a civil penalty of $1.7 billion to settle multiple consent orders related to automobile lending, consumer deposit accounts and mortgage lending with the Consumer Financial Protection Bureau (CFPB). .

Banks 359

Banks Lending Loans Mortgages 359

Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. After years of working crazy hours and focusing on growing his business, Ciardelli saw the impact his hard-driving lifestyle was having on his health and close relationships. He knew he needed to make changes. “I

Mortgages 413

Mortgages Loan Officer Loans Technology 413

Housing Wire

FEBRUARY 6, 2023

Home lender PrimeLending has promoted Kim Dybvad to lead its Mid-America division, months after the workforce quit en masse and joined a competitor. She brings her high energy and optimism to work every day, inspiring all around her to achieve their very best.” Last month, PrimeLending sued competitor First Community Mortgage, Inc.

Banks 285

Banks Loans Lending Mortgages 285

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns.

Industrial 368

Industrial Mortgages Loan Officer Banks 368

Housing Wire

MARCH 26, 2021

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo, the largest depository mortgage lender in America, has been plagued by scandals in recent years.

Bankruptcy 457

Bankruptcy Banks Loan Officer Loans 457

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I The bank’s mortgage servicing rights declined by 5% to $9.3 billion, according to its latest earnings.

Lending 495

Lending Finance Mortgages Banks 495

Housing Wire

MARCH 10, 2023

This week, the Community Home Lenders of America (CHLA) released a special report entitled “The Ubiquity of IMB Regulation.” This report is important to independent mortgage banks (like Atlantic Bay Mortgage ) that are increasingly dominating mortgage markets and leading the market in serving minority and underserved borrowers.

Pre-qualification 326

Pre-qualification Banks Loans Mortgages 326

Housing Wire

FEBRUARY 15, 2023

Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program.

Closing 233

Closing Mortgages Banks Title 233