Broke Agent Media

JANUARY 31, 2023

Fannie Mae multifamily financing provided over $69 billion in 2022 to expand nationwide access to affordable housing. billion Berkadia Commercial Mortgage, LLC: $6.8 billion Arbor Commercial Funding I, LLC: $3.1 billion in 2021 Green Financing : $9.1 billion Arbor Commercial Funding I, LLC: $3.1

Finance 98

Finance Closing Equity Commercial 98

Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. year-over-year, according to Inside Mortgage Finance. The company ranked no.

Commercial 397

Commercial Finance Loans Mortgages 397

Housing Wire

MARCH 21, 2024

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated. Bolstered by its 2022 acquisition of Homepoint ’s delegated correspondent channel, Planet originated $13.9

Lending 420

Lending Sales Commercial Loans 420

Housing Wire

SEPTEMBER 15, 2020

The virtual notary services industry has become increasingly popular amid the COVID-19 pandemic as businesses have adopted remote signatures to adhere to social distancing protocols while closing on mortgages and other loans. Electronic closings supported by remote online notarization (RON) offer advantages to notaries, borrowers and lenders.

Closing 491

Closing Loans Banks Investor 491

Housing Wire

JUNE 7, 2023

“Christine is a passionate and influential leader in real estate finance and is a terrific choice to lead MBA and its members through the challenges and opportunities our industry faces,” said Matt Rocco , the 2023 MBA chairman and president of Colliers Mortgage.

Commercial 370

Commercial Finance Lending Mortgages 370

Housing Wire

JANUARY 31, 2023

NYCB) confirmed it’s closing 69% of the retail home lending offices outside of its branches after acquiring Michigan-based Flagstar Bank. “We We made the strategic decision shortly after the transaction closed to swiftly restructure the business, which occurred in January,” Thomas Cangem, NYCB president and CEO, said in a statement. “We

Mortgages 397

Mortgages Lending Banks Commercial 397

Housing Wire

MARCH 20, 2023

Ultimately, the New York state chartering authority closed the bank on March 12. Flagstar, the 19th-largest mortgage lender in the country, acquired $38 billion in Signature’s assets, including approximately $25 billion in cash and $13 billion in loans, which were exclusively commercial and industrial loans.

Banks 370

Banks Lending Commercial Loans 370

Propmodo

JANUARY 10, 2024

When seeking construction financing for major real estate projects, developers almost always turn to big banks. Large institutional capital has been one of the biggest lenders to commercial development projects over the past decades. In 2019, the bank inked one of its biggest deals.

Banks 67

Banks Construction Finance Commercial 67

Housing Wire

OCTOBER 28, 2022

Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire. . Multichannel lender Finance of America Companies Inc. (FoA)

Mortgages 410

Mortgages Loan Officer Finance Commercial 410

Housing Wire

APRIL 17, 2024

The portfolio of loans examined included residential, commercial investor and business purpose loans. issues, which FundingShield says indicates a lack of appropriate controls by closing agents and lenders to identify and fix issues. “Q1 On loans that exhibited problems, the analysis found an average of 2.22 of transactions.

Loans 450

Loans Title Commercial Closing 450

Housing Wire

MARCH 22, 2023

The current bank crisis hit California-based Pacific Western Bank , a community bank owned by PacWest Bancorp that has a focus on real estate and commercial loans. billion in fully funded cash proceeds from the global investment firm Atlas SP Partners through a new senior asset-backed financing facility. from the previous closing. “We

Banks 397

Banks Commercial Loans Investor 397

Housing Wire

JANUARY 4, 2023

Kathryn Amor, former senior vice president of Finance of America Companies (FoA), has taken on a new role at Guaranteed Rate as the Chicago-based lender looks to diversify its product mix amid the mortgage downturn. Inside Mortgage Finance pegs the Chicago lender as the ninth largest mortgage lender. It originated $45.2

Finance 385

Finance Commercial Loans Title 385

RIS Media

FEBRUARY 15, 2022

Commercial and multifamily mortgage borrowing and lending is on the precipice of surpassing the $1 trillion mark for the first time in 2022. The forecast was revealed at the organization’s 2022 Commercial/Multifamily Finance Convention and Expo. Multifamily lending alone is expected to rise to $493 billion in this year.

Commercial 98

Commercial Lending Investor Finance 98

Housing Wire

JANUARY 31, 2023

First Internet Bank will end its direct-to-consumer operations in the first quarter of 2023 and shifts its focus to origination efforts on its floating rate loan products — most notably its commercial construction and small business lending — as well as its higher-yielding fixed rate programs, such as franchise finance.

Banks 421

Banks Mortgages Lending Commercial 421

Housing Wire

MARCH 7, 2024

Federal Reserve Chair Jerome Powell indicated in recent congressional testimony that interest rate hikes are now likely at the “ peak for the current tightening cycle ,” after signaling in November of last year that the Fed was close to the end of its war on inflation. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investor 421

Investor As-is Commercial Equity 421

Housing Wire

AUGUST 31, 2022

Expected to close around Oct. The bank resulting from the deal will offer mortgage lending and servicing, commercial and retail banking, and institutional banking. According to Inside Mortgage Finance estimates, Cornerstone, independently held, is a top-50 retail mortgage lender. billion in assets, the companies claim.

Lending 370

Lending Banks Commercial Loan Officer 370

RIS Media

AUGUST 11, 2021

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021, a 31% increase from 2020’s volume of $442 billion, according to a new forecast released by the Mortgage Bankers Association (MBA). ” Source: MBA.

Lending 98

Lending Commercial Finance Loans 98

Housing Wire

NOVEMBER 9, 2022

The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle. Finance of America shares traded at $1.46

Mortgages 397

Mortgages Finance Loan Officer Commercial 397

Housing Wire

MARCH 30, 2022

We caught up with Hurst to talk about his new role and why the firm is looking to invest in commercial real estate tech startups and mortgage tech firms. Since we now have good coverage across those segments, our more recent investments have primarily focused in two areas – mortgage technology and commercial real estate.

Title 370

Title Mortgages Commercial Technology 370

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 450

Technology Development Title Lending 450

Housing Wire

MARCH 23, 2022

Prior to his appointment at Ginnie Mae, Valverde worked at the Federal Housing Finance Agency (FHFA) as a supervisory attorney advisor in the division of conservatorship oversight and readiness. Valverde also served as a counselor for domestic finance at the U.S. Treasury Department from 2010 to 2017.

Finance 384

Finance Commercial Mortgages Development 384

Housing Wire

JUNE 1, 2023

In addition to agency and GSE home loans, Planet also has niche products tailored to today’s tight real estate markets, including self-funded One-Time Close (OTC) construction loans as well as manufactured housing and renovation mortgage loans,” Gross said in a statement. The lender originated $6.5 billion from the correspondent channel.

Mortgages 397

Mortgages Lending Loan Officer Loans 397

Housing Wire

APRIL 25, 2023

The February data pre-dates the challenges in the commercial banking industry , which started in early March, however, industry forecasters anticipate that interest rates will remain elevated as the Federal Reserve continued to focus on its inflation-reduction targets. in February, and now stands 4.9% below its June 2022 peak.” Miami’s 10.8%

Commercial 397

Commercial Closing Banks Finance 397

Housing Wire

OCTOBER 19, 2022

Although bank capital regulations were updated a decade ago, [current regulations direct] the Federal Home Loan Banks (FHLBs) to use tangible capital in assessing a commercial bank’s creditworthiness for purposes of issuing advances,” the letter reads in part. “In The ability for banks to provide credit to U.S.

Banks 421

Banks Commercial Loans Finance 421

Housing Wire

APRIL 9, 2024

Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan. Lenders are a mix of credit unions, commercial banks, and mortgage lending companies. billion in closed loan volume last year. UWM ended 2023 as the top U.S.

Fixed-rate mortgage 441

Fixed-rate mortgage Loans Mortgages Loan Officer 441

Housing Wire

MARCH 28, 2023

“Financial news this month has been dominated by ructions in the commercial banking industry , as some institutions’ risk management functions proved unequal to the rising level of interest rate,” Lazzara said in a statement. Home price growth in the 10-city composite index also slowed in January, recording an annual gain of 2.5%

Commercial 397

Commercial Equity Banks Finance 397

Housing Wire

FEBRUARY 23, 2023

Despite the closed title purchase order volume dropping 36% year over year and the number of closed refinance orders dropping 79% compared to the fourth quarter of 2021, Fidelity National Financial still managed to record a strong Q4 in 2022.

Title 370

Title Marketing Commercial Mortgages 370

Housing Wire

APRIL 28, 2021

The investment is expected to close in the middle of 2021. “With a similar culture and alignment of values, Veritex has helped Thrive grow by understanding our business and assisting Thrive with tailored financing, including construction warehouse lending. “We

Mortgages 370

Mortgages Lending Banks Loans 370

Housing Wire

DECEMBER 15, 2020

LERETA also offers life-of-loan, basic, and commercial determinations, as well as portfolio reviews. including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders. “Our combined industry expertise and experience will continue to provide customers the support they need.”.

Commercial 300

Commercial Lending Loans Banks 300

Housing Wire

APRIL 27, 2023

The commercial segment recorded just 25,600 opened orders for the quarter, a 28% annual decrease. However, these declines were partially offset by a 15% year-over-year increase to $3,428 in average revenue per direct title order closed in the quarter. We made money in March. I think we are a much better company now.”

Title 397

Title Marketing Commercial Investor 397

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? Market conditions have certainly trended downward for residential or commercial real estate. Right now, we’re generally seeing more mixed-use developments and multifaceted commercial projects.

Commercial 421

Commercial Brokerage Due diligence Title 421

Housing Wire

NOVEMBER 16, 2023

Additionally, Fitch reported that it expects commercial title volumes to be modestly down year over year in 2024 as the office and retail property segments continue to experience economic pressure. Affordability issues and concerns about a recession are two things Fitch is watching closely in 2024.’’

Title 419

Title Commercial Mortgages As-is 419

Housing Wire

MARCH 15, 2023

On Friday, the 40-year-old commercial bank focused on the tech community SVB collapsed amid a deposit run that provoked a liquidity crisis, which triggered the regulators’ interference. ” SVB specializes in banking for tech startups, financing almost half of U.S. SVB had a securities-investment portfolio of $120.1

Banks 370

Banks Mortgages Loans Loan Officer 370

Housing Wire

DECEMBER 9, 2022

“Profitability is likely to remain very constrained well into 2023, until excess origination capacity in the industry declines materially,” Moody’s analysts said in a recent report on nonbank mortgage finance companies. . UpEquity claims it takes 17 days, on average, to close a deal, while the average in the industry is closer to 50 days. .

Industrial 397

Industrial Residential Mortgages Investor 397

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Average time to close.

Closing 112

Closing Purchase and sale agreement Pre-approval Inspection 112

Housing Wire

APRIL 14, 2022

Long-term, however, they agree the market will work through the changes and likely wind up better off, assuming the Fed’s so-called quantitative tightening strategy manages to tame runaway inflation and chases off its close cousin, a recession. “It As of January 2022, Fannie’s asset portfolio stood at $108.5 in 2009 to 1.9%

Marketing 410

Marketing Purchase and sale agreement Investor Banks 410

Housing Wire

APRIL 14, 2022

A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. Interfirst purchased refinance leads and sent them to Woodward to close. The work was not complex, he said.

Mortgages 522

Mortgages Marketing Lending Loans 522