Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Banks 406

Banks Mortgages Lending Commercial 406

Housing Wire

SEPTEMBER 15, 2023

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. In April, the FDIC decided to sell a portfolio of $114 billion in MBS it obtained after seizing control of the banks, retaining Blackrock to conduct the sale.

Banks 402

Banks Mortgages Loans Investor 402

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 369

Sales Banks Principal Loans 369

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 375

Banks Finance Commercial Technology 375

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 359

Banks Lending Principal Loans 359

Housing Wire

JULY 1, 2022

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8% compared to 94.2%

Banks 383

Banks Mortgages Principal Short sale 383

Housing Wire

APRIL 6, 2023

The Federal Deposit Insurance Corporation (FDIC) has decided, in a “gradual and orderly” move, to sell a portfolio of $114 billion in mortgage-backed securities (MBS) it retained after seizing control of failed regional banks Signature Bank and Silicon Valley Bank (SVB). To illustrate, SVB failed to raise capital to plug a $1.8

Banks 319

Banks Commercial Mortgages Brokerage 319

Housing Wire

FEBRUARY 8, 2024

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. So, the new role is going from the product management side to the sales side of the business. national bank, a large bank [that is considering entering] reverse.

Banks 372

Banks Mortgages Technology Branding 372

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. was open for business. They took a $1.8

Banks 351

Banks Mortgages Loans Loan Officer 351

Housing Wire

FEBRUARY 8, 2024

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. A majority of the impacted positions came from the company’s sales and marketing organizations, the company said. and Bank of America Corp.

Sales 408

Sales Banks Technology Investor 408

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

Banks 380

Banks Marketing Mortgages As-is 380

Housing Wire

OCTOBER 17, 2022

Bank of America delivered increases in revenues and net income in the third quarter of 2022, showing that some of its business lines were not walloped by high levels of inflation and economic contraction. Overall, the bank recorded $7.1 Bank of America had $229 billion in outstanding residential mortgages on its books through Sept.

Banks 357

Banks Mortgages Equity Loans 357

Housing Wire

APRIL 24, 2023

Housing demand and home prices have proved to be more resilient than expected in the first quarter of the year, but home sales will remain subdued largely due to the rate lock-in effect , according to Fannie Mae ‘s forecast. Still, Fannie Mae expects new home sales to hold up comparatively well relative to existing homes.

Sales 373

Sales Banks Construction Lending 373

Housing Wire

FEBRUARY 13, 2024

FirstFunding appointed Matt Coles to the position of national sales manager, the company announced on Tuesday. In his new role, Coles will lead the company’s sales strategy and operations. It provides warehouse funding to correspondent lenders , community banks , credit unions and secondary market investors.

Sales 307

Sales Banks Investor Mortgages 307

Housing Wire

JANUARY 12, 2023

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Consequently, other banks received more than six times as many applications in these neighborhoods in Los Angeles County than City National each year.

Banks 362

Banks Loan Officer Loans Commercial 362

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. Law360 and National Mortgage News first reported on AmeriFirst’s motion seeking approval of loan sales. million to Centier Bank.

Loans 396

Loans Bankruptcy Sales Commercial 396

Housing Wire

JULY 18, 2022

Depositary lender Bank of America ‘s top executives said Monday their customers haven’t slowed down their activities, despite a fear of a recession in the U.S. Bank of America posted a $2.88 billion profit in its consumer banking division in the second quarter, down from a $2.97 Bank of America posted a $2.88

Banks 351

Banks Mortgages Equity Residential 351

Housing Wire

OCTOBER 28, 2022

Pending home sales continued their downward spiral in September, recording a 10.2% Pending home sales have now fallen in 10 of the last 11 months. Economists predicted that pending home sales would drop by 4.0% Economists predicted that pending home sales would drop by 4.0% in September. in September.

Sales 521

Sales Banks Mortgages Loans 521

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. The EnerBank team, led by Charlie Knadler, will join Regions as part of its consumer banking group reporting to Peters. The space remains dominated by depository banks.

Banks 360

Banks Renovation Marketing Lending 360

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 389

Banks Mortgages Loan Officer Lending 389

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. TIAA Bank has laid off more than 200 workers over the past six months as it pivots away from mortgage servicing. It’s the second big correspondent business sale in recent months. billion in cash.

Banks 369

Banks Lending Loans Mortgages 369

Inman

AUGUST 3, 2023

Regional banks have largely weathered the crisis fueled by this year's failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through third-party brokers.

Banks 117

Banks Sales Industrial Mortgages 117

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 outlook is not good for large cohorts of the industry.”. trillion in 2021.

Banks 394

Banks Mortgages Loans Equity 394

Housing Wire

DECEMBER 23, 2022

New home sales, to the surprise of many, rose by 5.8% New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% in November. in November.

Sales 370

Sales MLS Banks Mortgages 370

Housing Wire

APRIL 27, 2022

First Community Mortgage ‘s wholesale division named a new regional sales manager in hopes to continue growth for the firm’s mortgage boutique division. Headed by Dan Smith , FCM is a wholly-owned subsidiary of First Community Bank of Tennessee and includes wholesale, correspondent, and retail divisions.

Sales 333

Sales Mortgages Banks Lending 333

Housing Wire

FEBRUARY 2, 2023

The silver lining for the business was the strong sales in its Encompass loan origination software system in the fourth quarter, executives said in its latest earnings call on Thursday. We had a very strong quarter in Encompass sales,” Ben Jackson, president and chair of ICE Mortgage Technology, said in its fourth quarter earnings call. “In

Technology 363

Technology Sales Mortgages Lending 363

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 371

Sales Mortgages Principal Equity 371

Toronto Realty Blog

JANUARY 22, 2024

” was a much better hook… Back in October, I wrote the following: October 10th, 2023: “So You Want To Purchase A Power Of Sale, Do You?” Today, I want to look at how bank-owned properties are priced, listed, and sold, and I want to use real examples. Now it’s on the market – for sale, by the bank.

Banks 69

Banks Sales Marketing MLS 69

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. John Gibson: SVP, National Sales Director; Wholesale & Correspondent Lending. The post Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions appeared first on HousingWire.

Lending 334

Lending Banks Technology New Construction 334

Housing Wire

OCTOBER 28, 2021

After rising 8% in August, pending home sales dropped 2.3% in September, according to the National Association of Realtor’s pending home sales index report released on Thursday. While market activity is lower than a year ago, the pending home sales index is still up 7% than September 2019. The index dropped to 116.7

Sales 417

Sales Renovation Banks Marketing 417

Housing Wire

MAY 25, 2023

After falling for the first time since November 2022 in March , pending home sales remained unchanged in April, according to data released Thursday by the National Association of Realtors (NAR). Year over year, pending home sales were down 20.3%, an improvement on the 23.3% annual drop recorded in March. The Northeast (59.1)

Sales 367

Sales MLS Banks Mortgages 367

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.

Sales 339

Sales Loan Officer Lending Residential 339

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulotta has spent more than three decades on mortgage operations and wholesale sales, with stints at Movement Mortgage , Figure , Premier Lending , Quicken Loans (now Rocket Mortgage ), and Wells Fargo. “I

Sales 369

Sales Lending Principal Banks 369

Housing Wire

DECEMBER 1, 2020

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. The current program will end Feb.

Banks 285

Banks Mortgages Lending Technology 285

Housing Wire

FEBRUARY 15, 2023

Roughly a year after Mortgage Coach and Sales Boomerang were acquired by a private equity firm, they’ve merged their services onto one platform and rebranded to “TrustEngine.” The company says more than 200 independent mortgage companies, credit unions, banks and brokers currently use TrustEngine’s solutions.

Sales 341

Sales Mortgages Loans Loan Officer 341

Housing Wire

SEPTEMBER 16, 2022

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 Terms of the sale were not disclosed. million; pool 2, 2,217 loans valued at $338.9

Sales 395

Sales Principal Loans Banks 395

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 239

Banks Mortgages Technology Residential 239