Housing Wire

JUNE 10, 2025

“We built HELOC For Seniors to offer a better way forward, offering the financial flexibility associated with a line of credit, but without sharply rising payments that come with traditional bank HELOCs, or the higher base payments associated with closed-end second liens ,” he said. “So The product does not include a preset maturity date.

Equity 371

Equity Principal Development Mortgages 371

Housing Wire

AUGUST 17, 2023

Bank of America (BofA) prevailed in a court case brought against it by Cook County , Illinois , which sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago area. The news was first reported by Bloomberg Law. Circuit Judge Kenneth F.

Banks 370

Banks Lending Principal Loans 370

Housing Wire

JUNE 9, 2023

Before I open myself up to attacks here, I am using macro data from Urban Institute and there are certainly some banks who serve a broader swath of the market. More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. In the FHA program alone, 46.3%

Banks 369

Banks Debt-to-income ratio Lending Loans 369

Housing Wire

MARCH 20, 2023

Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” Allan Polunsky and Marty Green are principals at Polunsky Beitel Green, a Texas-based law firm. Independent mortgage companies have no such luxury.

Banks 397

Banks Mortgages Fixed-rate mortgage Loans 397

Housing Wire

APRIL 4, 2025

Principal agents and closed loan sellers can ask their LOS administrator to add it to their available product menu, the company said. But the variations available to brokers and principal agents differ. Other lenders active in the proprietary space include University Bank , Smartfi Home Loans and Nationwide Equities.

Mortgages 278

Mortgages Principal Loans Equity 278

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

Banks 410

Banks Mortgages Loan Officer Due diligence 410

Housing Wire

NOVEMBER 14, 2024

The 2017 reduction in principal limit factors (PLFs) is largely seen as a negative from investors, while they cite the impending release of “ HMBS 2.0 ” as a potential positive. Investors are also more likely to view each new regulation that could be handed down for the HECM program based on the impact it could have on companies.

Investor 369

Investor Mortgages Bankruptcy Equity 369

Housing Wire

OCTOBER 30, 2024

If you are not a depository or a bank, you typically don’t have a balance sheet, so you have to sell that loan in the scratch-and-dent market, which was costing last year 15 to 20 points — and even now it’s still costing anywhere between 5 to 8.5 The new model also provides economic benefits to lenders, according to Mittal. “If

Debt-to-income ratio 406

Debt-to-income ratio Loans Loan Officer Finance 406

Housing Wire

NOVEMBER 3, 2022

Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates. The consolidation fervor is being fed by several factors, according to David Hrobon, a principal with Stratmor.

Banks 397

Banks Mortgages Loans Equity 397

Housing Wire

JANUARY 4, 2024

If passed, House Bill 809 and its companion Senate Bill 1070 would bar insurance carriers from placing a coverage limit on a home that would include the value of the land the house sits on, and it would require insurance companies to offer policies that cover only the unpaid principal on a mortgage.

Principal 522

Principal Mortgages Land Loans 522

Housing Wire

APRIL 28, 2025

billion in unpaid principal balance (UPB), up 2% from the end of 2024 and 10% higher compared to March 2024. “They’ve been able to compete with banks and credit unions, and so that’s been a big win for us. Wholesale partnerships Last week’s earnings painted an interesting picture for the company.

Marketing 371

Marketing Principal Mortgages Loans 371

Housing Wire

APRIL 22, 2025

In our production segment, we acquired or originated nearly $30 billion in unpaid principal balance (UPB) of loans at higher note rates, which strategically positions our consumer direct division for significant growth when interest rates decline. billion in unpaid principal balance, down 19% from the prior quarter and up 33% from Q1 2024.

Principal 252

Principal Loans Mortgages Equity 252

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Banks have reduced their exposure to mortgage servicing rights (MSRs) due to expected higher capital requirements and risks.

Investor 450

Investor Mortgages Banks Principal 450

Housing Wire

JULY 8, 2024

The bank entered into an agreement to buy $1.8 More recently, regional banks have been looking to shed assets ahead of the Basel III Endgame regulations. As with many other regional banks, PacWest had billions of dollars worth of unrealized losses in its bond portfolio and uninsured deposits that were at risk of being pulled.

Loans 408

Loans Principal Banks Residential 408

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 506

Banks Lending Loans Principal 506

Housing Wire

JANUARY 14, 2025

If you live in one those states, leveling up your career might mean studying to become a Managing Broker or Principal Broker. Open bank and trust accounts Next, you’ll need to set up all the necessary business banking accounts and Trust accounts. The terms used vary by state. This detail can come later.

Brokerage 368

Brokerage Branding Agents Industrial 368

Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

Bankruptcy 397

Bankruptcy Banks Pre-approval Principal 397

Housing Wire

NOVEMBER 15, 2024

A shift in Rocket Mortgage’s MSR strategy Through the third quarter, Rocket has already acquired or committed to over $70 billion in unpaid principal balance for its servicing portfolio —a 15% increase over year-end 2023. “Together, these assets represent a total of $9.8 That’s 220,000 customers added through Q3.

Mortgages 369

Mortgages Equity Loans Principal 369

Housing Wire

MARCH 5, 2024

Struggling New York Community Bancorp (NYCB), which triggered fears of new bank collapses, could benefit from selling mortgage servicing rights ( MSR ) to improve its capital ratio, according to analysts at Keefe, Bruyette and Woods (KBW). NYCB became a large mortgage servicer after the acquisition of Flagstar Bank in December 2022.

Sales 435

Sales Banks Principal Loans 435

Housing Wire

OCTOBER 18, 2024

HOME EQUITY CONVERSION MORTGAGE (HECM): The HECM allows homeowners age 62+ the ability to leverage a portion of their home’s value without a required monthly principal and interest mortgage payment.* HOME EQUITY LINE OF CREDIT (HELOC): The HELOC has no age requirement and is offered through lenders and local banks.

Mortgages 420

Mortgages Principal Equity Loans 420

Housing Wire

APRIL 1, 2025

This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial , University Bank , Smartfi Home Loans and Nationwide Equities. It offers adjustable- and fixed-rate options with a maximum loan amount of $4 million.

Mortgages 241

Mortgages Principal Equity Loans 241

Housing Wire

JULY 30, 2024

Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. that is payable semiannually.

Principal 458

Principal Banks Investor Mortgages 458

Housing Wire

MAY 10, 2024

Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae , was named as its acting president as of May 6, according to an announcement issued by the organization this week.

Principal 391

Principal Finance Banks Loans 391

Housing Wire

MARCH 6, 2024

In turn, the bank is expanding its board of directors, adding four new seats to include Mnuchin, the former Comptroller of the Currency Joseph Otting, Allen Puwalski from Hudson Bay, and Reverence Capital’s managing partner Milton Berlinski. ” On a call on February 7, management told analysts that the bank’s total liquidity was $37.3

Equity 403

Equity Mortgages Banks Commercial 403

Housing Wire

JULY 12, 2024

The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year. The bank had $189 million from servicing revenues in Q2 2024, compared to $144 million in the previous quarter. .” Generating revenues Home lending activity brought in $1.3 billion in net revenues for JPMorgan in Q2 2024, up 11% from $1.18

Mortgages 427

Mortgages Lending Banks Principal 427

Housing Wire

JUNE 4, 2024

Warehouse lender Flagstar Bank , which has a lawsuit filed against Hometown Lenders , has the largest unsecured claim, $20.1 It’s followed by another warehouse lender, First Horizon Bank ($3.5 When the company shut down, loans were sold to investors, except those remaining with Flagstar Bank and First Horizon.

Bankruptcy 414

Bankruptcy Banks Principal Investor 414

Housing Wire

JULY 18, 2024

Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% The analysis incorporates principal amortization and a prepayment assumption in projecting outstanding vintage balances.

Principal 438

Principal Mortgages Banks Loans 438

Housing Wire

AUGUST 4, 2022

The loan must be secured by a principal residence. For banks, there is a potential incentive for making targeted programs. That’s despite a February report by the Urban Institute which found that nonbanks made a greater share of their owner-occupant home purchase mortgage loans to borrowers of color than banks.

Loans 496

Loans Principal Banks Closing costs 496

Housing Wire

JULY 28, 2023

The bank entered into an agreement to buy $1.8 Banc of California and PacWest announced on Tuesday an all-stock merger with a $400 million equity raise from Warburg Pincus and Centerbridge Partners to create a bank with $36 billion in assets. billion of single-family residential loans at a discount, according to the outlet.

Purchase and sale agreement 370

Purchase and sale agreement Mortgages Banks Principal 370

Housing Wire

MAY 19, 2023

The company’s unpaid principal balance reached $524.8 Between the acquisition of First Republic Bank and the purchase of Rocket’s MSRs, JPMorgan Chase has acquired approximately $126 billion worth of MSRs in the last two months. The spokesperson did not provide additional details on loan type or characteristics.

Principal 109

Principal Loans Mortgages Banks 109

Housing Wire

OCTOBER 19, 2022

Prior to joining Nations Direct, O’Brien held leadership positions at LoanDepot , was Northeast regional sales manager at Fifth Third Bank; principal at J.H. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 428

Sales Mortgages Principal Equity 428

Housing Wire

OCTOBER 9, 2024

Before joining Mr. Cooper, Graham held leadership positions at the Royal Bank of Canada and Standard Charter Bank. Mr. Cooper reached more than $1 trillion in unpaid principal balance (UPB) in its servicing portfolio this year. In addition, David Graham will become senior vice president of data governance.

Technology 390

Technology Banks Principal Mortgages 390

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. billion note offering issued against a reference loan pool of 190,774 residential mortgages with an outstanding principal balance of $33.6

Principal 370

Principal Fixed-rate mortgage Residential Loans 370

Housing Wire

OCTOBER 22, 2020

According to Fed data, the central bank has bought over $1 trillion in bonds backed by home loans since then. And that’s the rationale for this change, as the GSEs are shouldering significant risks associated with the pandemic — as the principal risk taker, we have to price that risk appropriately.”

Mortgages 537

Mortgages Principal Loans Banks 537

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. CRE firms are also suffering through the highest interest rates seen in years.

Commercial 421

Commercial Brokerage Due diligence Title 421

Housing Wire

JANUARY 30, 2024

MSR holdings for banks over same period remained essentially flat, however, according to Recursion’s data — at $2.773 trillion in 2019 versus $2.747 trillion as of January 2024, again based on the outstanding balance of loans serviced. The total number of firms [IMBs and banks] after this cycle of right-sizing is probably going to be lower.

Marketing 408

Marketing Principal Banks Loans 408

Housing Wire

APRIL 12, 2024

In the first quarter of 2024, the big banks showed a challenging reality for originations. The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come. Retail volume came in at $4.4

Mortgages 440

Mortgages Banks Fixed-rate mortgage Lending 440