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. His expertise spans condominium conversion and development, residential sales, buyer representation and commercial transactions. Led by Mike DelRose Sr., Mike DelRose Jr.

Brokerage 415

Brokerage Residential Commercial Development 415

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 415

Banks Mortgages Loan Officer Lending 415

Housing Wire

OCTOBER 19, 2022

Nations Direct Mortgage, a residential lender in both the retail and wholesale channels, on Wednesday announced appointing Jack O’Brien as its senior vice president and national sales director. O’Brien & Associates and VP, Eastern regional sales manager at National City Home Equity, among others. .

Sales 410

Sales Mortgages Principal Equity 410

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. In his role as national sales director at Movement, Yeager will focus on the company’s growing sales team. and is licensed in 50 states.

Sales 363

Sales Loan Officer Lending Residential 363

Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. Targeting a 10% CET1 ratio, the bank cut its quarterly dividend from $0.17

Equity 370

Equity Mortgages Banks Commercial 370

Housing Wire

FEBRUARY 5, 2021

Closing out this week’s people mover announcements, Western Alliance Bank named Jim Karr as national sales manager for its correspondent mortgage solutions team, which is part of the bank’s Specialized Mortgage Services group. Have a hiring announcement you want to share?

Banks 292

Banks Mortgages Lending Investor 292

Housing Wire

AUGUST 28, 2020

Gateway First Bank officially named Scott Gesell CEO and general counsel after serving as CEO on an interim basis since April 3. Before being named CEO, he was chief administrative officer and general counsel for the bank and has also held senior roles at Colorado National Bancorp , American Residential Communities and First Nationwide Bank.

Banks 256

Banks Mortgages Technology Residential 256

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. Cangemi said in a statement that the bank’s deposit ratings remain “investment grade” at other credit rating agencies.

Mortgages 425

Mortgages Banks Marketing Commercial 425

Housing Wire

SEPTEMBER 6, 2022

Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. . Citi was the 19th-largest residential mortgage lender in America by origination volume in the first half of the year, according to a data analysis by Inside Mortgage Finance.

Mortgages 384

Mortgages Banks Lending Residential 384

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 executive will report to Liz Bryant, head of retail mortgage sales. The bank funded $6.7 The bank funded $6.7

Lending 366

Lending Marketing Banks Residential 366

Housing Wire

FEBRUARY 13, 2024

REdistribute provides clean, timely, highly compliant, and accessible listings data, which complements our comprehensive property data solution for banks, portfolio managers, government agencies and others who need access to the best, most up to date information on the housing market.”

MLS 404

MLS Technology Mortgages Residential 404

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA).

Loan Officer 396

Loan Officer Loans Banks Title 396

Housing Wire

AUGUST 4, 2021

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. Prior to joining Citi, Bryant was national sales manager and an executive vice president.

Mortgages 408

Mortgages Banks Land Lending 408

Housing Wire

MARCH 27, 2023

First Citizens Bank & Trust Company will acquire failed Silicon Valley Bank (SVB), which unexpectedly failed earlier this month and sent shock waves across the financial sector. The abrupt closure of SVB, after a run on deposits had left it insolvent , marked the largest bank failure in the U.S.

Banks 79

Banks Purchase and sale agreement Loans Loan Officer 79

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 360

Due diligence Banks Loans Investor 360

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. NYCB had essentially exited the residential mortgage banking business in 2017 after selling its origination and servicing platforms. billion a quarter prior.

Lending 362

Lending Mortgages Banks Branding 362

Housing Wire

AUGUST 5, 2022

Construction gained 32,000 jobs in July, with residential building gaining 2,900 jobs and residential specialty trade contractors gaining 11,200 jobs. Residential building employment is up 7.5% Home sales are running below the pre-pandemic numbers seen in early 2020 and slightly below the 2019 annual total.

Construction 421

Construction Residential Banks Mortgages 421

Housing Wire

JANUARY 19, 2023

Voyles will be responsible for growing the retail division overseeing sales, operations and marketing as well as building on the existing framework, the company said Wednesday. After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation.

Mortgages 383

Mortgages Loan Officer Lending Banks 383

Housing Wire

APRIL 27, 2022

parent company of Flagstar Bank , has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 employees amid a significant drop in origination volumes and margins. Overall, the bank’s net income in the first quarter of 2022 dropped 60.4% Michigan-based Flagstar Bancorp , Inc. billion in Q1 2021 to $5.7

Purchase and sale agreement 397

Purchase and sale agreement Mortgages Banks Branding 397

Housing Wire

FEBRUARY 27, 2024

Gatling was previously a sales manager at loanDepot , where she spent almost seven years. Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. Of the total, 53.6% were FHA loans.

FHA loan 420

FHA loan Loan Officer Loans Staging 420

Housing Wire

OCTOBER 13, 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. The bank cited runoff from its mortgage portfolio – driven by a wave of refinancings – as a reason for reducing its reserves. . The bank made $1.7

Mortgages 397

Mortgages Banks Residential Investor 397

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. Rates were lower at 6.45% on Wednesday on Mortgage News Daily. ​​In

Industrial 396

Industrial Mortgages Purchase and sale agreement Banks 396

Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. That concern is overblown, according to several market experts. Easy target.

Purchase and sale agreement 394

Purchase and sale agreement Banks Mortgages Residential 394

Housing Wire

OCTOBER 30, 2020

Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. In his new role, Myers will oversee new client acquisition, emerging market expansion, new product growth with existing clients and sales strategy.

Lending 378

Lending Banks Title Commercial 378

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. TF: Effective risk management in REO asset sales involves awareness of the intrinsic risks.

Due diligence 401

Due diligence Marketing Mortgages New Construction 401

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. retail residential mortgage applications. in the same period. from 12.8% ”

Mortgages 383

Mortgages Fixed-rate mortgage Marketing Loans 383

Housing Wire

DECEMBER 13, 2023

“The market progressively got worse around the start July of 2022 and then throughout the course of 2023, driven by the Federal Reserve raising rates and the lack of liquidity in the banking sector,” said John Toohig, head of whole-loan trading on the Raymond James whole-loan desk and president of Raymond James Mortgage Co.

Mortgages 395

Mortgages Marketing Banks Investor 395

Housing Wire

NOVEMBER 8, 2022

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. In April, MeridianLink paid roughly $28 million to acquire StreetShares , which provides lending technology to banks and credit unions.

Mortgages 416

Mortgages Lending Technology Banks 416

Housing Wire

NOVEMBER 12, 2020

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. Lake did not elaborate, and representatives for the retail bank did not immediately respond to HousingWire’s requests for comment.

Mortgages 439

Mortgages Banks Lending Investor 439

Housing Wire

APRIL 7, 2023

Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. This remark comes on the heels of the collapse of Silicon Valley Bank on March 10, the second-biggest bank failure in U.S. The original post made note of the fact that in the next five years, more than $2.5

Commercial 391

Commercial Banks Fixed-rate mortgage Residential 391

Housing Wire

JUNE 15, 2021

Sprout hired former Wells Fargo executive Michael Johnson to expand Sprout’s consumer and retail sales channel, the company said Tuesday. Johnson, who most recently led the depository bank’s Southeast division, will report directly to Sprout’s president, Shea Pallante.

Mortgages 381

Mortgages Lending Banks Residential 381

Housing Wire

SEPTEMBER 10, 2021

According to the OCC, the fine is also a result of the bank violating the terms of a 2018 compliance consent order , which alleged that Wells Fargo did not implement or maintain a compliance risk management program proportionate with the bank’s size, complexity and risk profile, resulting in “reckless practices.”

Lending 458

Lending Banks Loans Mortgages 458

Housing Wire

NOVEMBER 2, 2023

residential mortgage industry” for its mortgage business outperforming in Q3 even as the industry experienced a nearly 20% decline in origination volumes. ICE expects to have its second-best year for MSP sales since 2017. ICE attributed “an analog to digital conversion occurring in the U.S.

Industrial 301

Industrial Mortgages Technology Loan Officer 301

Housing Wire

JUNE 8, 2022

Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood. In May, the inventory of homes for sale rose 8%, marking the first inventory rebound since June 2019.

Short sale 364

Short sale MLS Banks Loans 364

Housing Wire

JANUARY 5, 2024

Working with our new Board of Directors, our vision is to bring to the real estate professionals of San Diego County the best in MLS service, providing them with the tools they need for success in the changing world of residential real estate sales.” Klein has over 40 years of real estate industry experience.

MLS 400

MLS Technology Residential Banks 400

Housing Wire

MAY 3, 2023

Mohtashami anticipates that the Fed will push a pause on the interest rate hike in the next meeting, as the central bank is counting on credit getting tighter to create job recession. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Mortgages 413

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 413

Housing Wire

FEBRUARY 2, 2024

During their departure, DKMC sales staff who are not joining NAF were informed by leadership that they will have to wait a few months before receiving all of their compensation tied to any loans closed before the M&A deal, per documents reviewed by HousingWire. and NFM Lending. 18, and the deal closed two weeks later.

Loan Officer 408

Loan Officer Loans Lending Mortgages 408