Housing Wire

MAY 25, 2023

The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. Department of Veteran Affairs (V.A.)

Mortgages 367

Mortgages FHA loan Loan Officer Banks 367

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We Trade groups have opposed the new regulations.

Banks 446

Banks Commercial Residential Loans 446

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 397

Mortgages Lending Loan Officer Loans 397

Housing Wire

JANUARY 22, 2024

Top-35 mortgage lender New American Funding (NAF) is in negotiations to acquire Chicago-based retail shop Draper & Kramer Mortgage Corp. As part of the deal , NAF would acquire the residential mortgage arm of Draper & Kramer , a property and financial services group established in 1893 by Arthur W. Draper and Adolph F.

Mortgages 336

Mortgages Loan Officer Residential Loans 336

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

Mortgages 328

Mortgages Title Marketing Lending 328

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. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Banks 398

Banks Mortgages Lending Commercial 398

Housing Wire

MARCH 18, 2022

Veteran mortgage executive Bill Dallas has left his position as president of Finance of America Mortgage amid larger changes to the Texas-based nonbank lender’s C-Suite and business lines. His exit was first reported by Inside Mortgage Finance. Dallas did not immediately return requests for comment.

Finance 467

Finance Mortgages Commercial Lending 467

Housing Wire

JANUARY 31, 2023

According to Cangem, the substantial Fed policy shift last year resulted in significantly higher residential mortgage rates. It harmed the business, as the higher rates caused all mortgage activity to slow. NYCB says it was the 8th-largest bank originator of residential mortgages in 2022, with $24.2 billion in volume.

Mortgages 342

Mortgages Lending Banks Commercial 342

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. On Wednesday, the bank announced that it will consider applications for residential mortgage or home equity line of credit (HELOC) on the portal EZApply only until Feb.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

Housing Wire

FEBRUARY 7, 2022

Pink slips will start arriving for Santander Bank ’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such loans in the United States. HousingWire has learned that the bank’s exit from the residential mortgage business in the U.S. Santander Bank, NA.,

Mortgages 365

Mortgages Banks Equity Residential 365

Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Non-qualified mortgages will continue to be the dominant product in the broker channel, the company said.

Mortgages 347

Mortgages Lending Commercial Brokerage 347

Housing Wire

JULY 31, 2023

mortgage lender, has long described itself as a “one-stop mortgage shop.” But it has built its reputation on its expertise in mortgage. So what exactly is a “one-stop mortgage shop?” “We Smith, senior executive vice president and president of mortgage at Flagstar. Flagstar Bank , a top-25 U.S.

Banks 324

Banks Mortgages Commercial Lending 324

Housing Wire

APRIL 29, 2024

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning.

Lending 415

Lending Commercial Residential Loans 415

RIS Media

JULY 9, 2021

Mortgage delinquencies for commercial and multifamily properties held firm in June, according to the Mortgage Bankers Association’s (MBA) monthly CREF Loan Performance Survey. MBA created the survey to better understand how the COVID-19 pandemic is impacting commercial mortgage loan performance.

Commercial 102

Commercial Mortgages Loans Staging 102

Housing Wire

FEBRUARY 1, 2021

Rocket Mortgage isn’t playing around when it comes to this year’s Super Bowl. Sure, rival United Wholesale Mortgage is back with another commercial touting the benefits of consumers using a mortgage broker. It will likely cost Rocket somewhere near $20 million to run two 60-second commercials on Sunday night.

Mortgages 311

Mortgages Commercial As-is 311

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. . purchases, according to the mortgage tech platform Modex.

Mortgages 347

Mortgages Loan Officer Finance Commercial 347

Housing Wire

MARCH 3, 2022

Amid a tough environment for forward mortgage lending, Finance of America is betting on specialty finance & services products – reverse mortgages, investor loans, commercial loans – which are expected to deliver most of the return this year. Margins in the mortgage business declined from 3.88% in 2020 to 2.86% in 2021.

Finance 369

Finance Investor Mortgages Commercial 369

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. SVB’s mortgage origination volume reached $2.4

Banks 335

Banks Mortgages Loans Loan Officer 335

Housing Wire

MARCH 14, 2023

However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : inflation data, recessionary data, or something else we don’t even see coming? What will drive mortgage rates now?

Mortgages 368

Mortgages Banks Commercial Loans 368

RIS Media

AUGUST 5, 2021

Delinquency rates for mortgages backed by commercial and multifamily properties declined in July, according to the Mortgage Bankers Association’s (MBA) latest monthly CREF Loan Performance Survey. ” The post Commercial and Multifamily Mortgage Delinquencies Down in July appeared first on RISMedia.

Commercial 104

Commercial Mortgages Loans Lending 104

Propmodo

OCTOBER 31, 2023

This has been a perfect storm for the commercial real estate lending industry. Falling property prices and liquidity fears are causing banks to slow or stop lending on commercial properties. All of this combined to push commercial lending to a standstill.

Lending 112

Lending Commercial Banks Construction 112

Housing Wire

MAY 7, 2024

Hoffman has spent more than 30 years in mortgage banking, 22 of them at Flagstar, where he started as an account executive. According to Inside Mortgage Finance (IMF) estimates, Flagstar produced $14.2 billion in mortgages through its third-party originator channel in 2023, making it the ninth-largest U.S. lender in the space.

Banks 318

Banks Equity Lending Commercial 318

Housing Wire

MAY 1, 2023

The FHFA stated that the goals of the fee changes were “to maintain support for purchase borrowers limited by income or wealth, ensure a level playing field for large and small lenders, foster capital accumulation at the Enterprises, and achieve commercially viable returns on capital over time.” Therein lies some of the confusion.

Mortgages 399

Mortgages Commercial Development Loans 399

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 339

Title Mortgages Commercial Technology 339

Bigger Pockets

DECEMBER 26, 2023

For the past year, commercial real estate has been the disappointing big brother of rental properties. As housing prices went up, commercial real estate prices went down. When primary mortgage […]

Commercial 94

Commercial Mortgages 94

Housing Wire

JULY 14, 2023

Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. The bank has argued that because the loan documents stated that the loan had a commercial purpose, the law does not apply.” The CFPB goes on to cite U.S.

Mortgages 289

Mortgages Commercial Banks Loans 289

Housing Wire

APRIL 11, 2024

California-based multichannel mortgage lender CMG Financial announced on Thursday that it acquired Norcom Mortgage ’ s retail assets, expanding its operations in the Northeast with the addition of 25 branches from Maryland to Maine. CMG was the 16th-largest mortgage lender in the country in 2023, with volume of $20.16

Loan Officer 371

Loan Officer Commercial Mortgages Loans 371

Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.

Closing 311

Closing Mortgages Lending Technology 311

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 522

Mortgages Marketing Lending Loans 522

Housing Wire

JANUARY 21, 2021

Notarize has tapped Larry D’Angelo as its first president and chief commercial officer, the company announced on Thursday. The post Notarize taps Larry D’Angelo as president and chief commercial officer appeared first on HousingWire. This article originally appeared in FinLedger , HousingWire’s sister-publication focused on Fintech.

Commercial 249

Commercial Equity Industrial Closing 249

RIS Media

MARCH 24, 2022

Commercial and multifamily mortgage delinquency rates declined in the fourth quarter of 2021, down or flat for every major investor group at the end of 2021, according to the Mortgage Bankers Association’s (MBA) latest report. Commercial mortgage-backed securities (30 or more days delinquent or in REO): 4.02%, a decrease of 0.84

Commercial 80

Commercial Mortgages Banks Investor 80

GeekEstate

MARCH 6, 2024

residential and commercial real estate markets and expand into adjacent markets, including insurance, mortgage, and financial services. The program offers education, mentorship and exposure for technology companies working to scale their businesses across the U.S.

Commercial 62

Commercial Staging Technology Residential 62

Housing Wire

MAY 7, 2024

Mortgage capital markets tech firm Polly announced on Tuesday that it has launched “Polly/AI,” which integrates artificial intelligence (AI) technology into the newest version of its product and pricing engine (PPE) and includes a “co-pilot” for loan officers that will “process, interpret, and recommend a range of outcome-driven results.”

Loan Officer 331

Loan Officer Commercial Loans Mortgages 331

Bigger Pockets

MAY 14, 2023

Multifamily and commercial real estate has been the butt of the joke over the past year. As mortgage rates started to rise, commercial real estate investors were hit hard, as […]

Commercial 111

Commercial Investor Mortgages Marketing 111

Housing Wire

APRIL 18, 2023

Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo , the mortgage business dropped by double-digits during this period. Mortgage originations totaled $3.9 Mortgage originations totaled $3.9 below the $16.4

Banks 313

Banks Mortgages Equity Loans 313

RIS Media

JANUARY 16, 2022

Delinquency rates for mortgages backed by commercial and multifamily properties declined during the final three months of 2021, according to the Mortgage Bankers Association’s (MBA) latest CREF Loan Performance Survey. The share of loan balances becoming newly delinquent was the lowest since the onset of the pandemic.”

Commercial 96

Commercial Mortgages Loans Industrial 96

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. FoA forward mortgage funded volume totaled $2.7

Mortgages 348

Mortgages Finance Loan Officer Commercial 348