Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. The word “trended” is the source of the “T” in the 10 T name. a competing model that incorporates trended credit bureau data.

Lending 353

Lending Mortgages Loans Banks 353

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor.

Finance 373

Finance Renovation Loans Lending 373

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. A VA loan is a mortgage partially backed by the U.S.

VA loan 438

VA loan Loans Mortgages Lending 438

Housing Wire

APRIL 11, 2024

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners.

Lending 301

Lending Technology Equity Loans 301

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

Residential 475

Residential Lending Banks Mortgages 475

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officer 362

Loan Officer Loans Finance Mortgages 362

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

Lending 404

Lending Mortgages VA loan Finance 404

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported.

Lending 366

Lending Finance Loans Mortgages 366

Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I It also brings a “reputational risk” when financing large amounts of loans originated from other firms.

Lending 508

Lending Finance Mortgages Banks 508

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Equity 378

Equity Lending Banks Loans 378

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 364

Lending Banks Finance Loans 364

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 350

Lending Banks Loans Mortgages 350

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 368

Lending Principal Finance Loans 368

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.

Lending 419

Lending Banks Mortgages Loan Officer 419

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience.

Lending 380

Lending Banks Commercial Finance 380

Housing Wire

SEPTEMBER 28, 2023

Jim Anderson Colorado-based lender Loan Simple brought on Jim Anderson as its new chief marketing officer. Prior to Finance of America, Anderson held CMO positions at Stearns Lending and Certainty Home Loans. Anderson brings nearly seven years of experience in the mortgage industry with his latest stint as CMO at FoA.

Loans 366

Loans Marketing Lending Finance 366

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire. LendInvest has more than $4.7 billion (£3.7

Finance 333

Finance Marketing Lending Loans 333

Housing Wire

NOVEMBER 16, 2023

Nonbank originator Change Lending and the U.S. The CDFI certification is given by the Treasury Department CDFI Fund to lenders providing financial services to low-income communities and people who lack financing. But at least 60% of a lender’s financing must target these borrowers.

Lending 342

Lending Principal Finance Loans 342

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. “The

Lending 358

Lending Loan Officer Finance Loans 358

Housing Wire

AUGUST 15, 2022

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. billion in volume , according to Inside Mortgage Finance.

Lending 370

Lending FHA loan Banks Finance 370

Housing Wire

OCTOBER 12, 2022

The financing arrangement was struck on June 3, 2020 with the maximum aggregate borrowing authority totaling $300 million, according to Home Point’s 8-K filing disclosed on Tuesday. The financing arrangement was also dated June 3, 2020. billion in capacity to fund loans, down from the first quarter’s $2.72

Lending 363

Lending Finance Banks Mortgages 363

Housing Wire

AUGUST 10, 2022

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group.

Lending 401

Lending Mortgages Loan Officer Branding 401

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. The proposed rule would implement a Congressional mandate establishing consumer protections for the residential PACE loans.

Loans 309

Loans Lending Finance Renovation 309

Housing Wire

FEBRUARY 15, 2024

Department of Veteran Affairs (VA) loans through its Tinman platform. We were focused on being able to take a consumer all the way through on our technology platform for just the conventional loans, and we achieved that milestone back in the summer of 2023. VA loans are 12% of the mortgage market,” Garg said. “VA Eligible U.S.

VA loan 345

VA loan Loans Loan Officer FHA loan 345

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

FHA loan 403

FHA loan Loans Finance Mortgages 403

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic. These loans are also highly secured and collateralized.

Banks 303

Banks Lending Finance Investor 303

Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The post FHFA extends relaxed appraisal, lending standards appeared first on HousingWire. 14, the CDC has reported over 1.7

Lending 540

Lending Loans Inspection Finance 540

Housing Wire

JUNE 22, 2023

In addition, the groups “request transparency in the process of developing final guidelines for condo and housing cooperative lending requirements.” “Any Any changes to Enterprise condo project or loan approval requirements should be subject to a public comment period of at least 60 days prior to adoption,” the letter states.

Lending 343

Lending Inspection Development Loans 343

Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. To that end, the GSEs will accept alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

Lending 485

Lending Inspection Loans Finance 485

Housing Wire

MARCH 3, 2024

A record 47% of government-sponsored enterprise (GSE) purchase loans in 2023 came from first-time homebuyers, a number that’s been trending gradually higher throughout the past decade. Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations.

Loans 500

Loans Debt-to-income ratio Lending Banks 500

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. Presented by: Finance of America. Last year, the lender funded $35.6

Finance 468

Finance Mortgages Commercial Lending 468

Housing Wire

JANUARY 26, 2023

California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country. APM bought assets that include about 25 branches from the Minnesota retail lender Lend Smart. million in loan volume last year.

Lending 349

Lending Purchase and sale agreement Loan Officer Loans 349

Housing Wire

DECEMBER 11, 2020

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. We are extending the temporary flexibilities related to verbal verifications of employment and power of attorney to loans with application dates on or before Jan. 31, 2021. “We 31, 2021 from Dec.

Lending 540

Lending Inspection Mortgages Finance 540

Housing Wire

JANUARY 16, 2024

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. Anchor Loans was acquired by investment firm Pretium in November 2021.

Loans 427

Loans Investor Banks Finance 427

Housing Wire

MAY 2, 2022

HousingWire’s Housing Finance Leaders. Entering its second year, this year’s class spotlights the top finance executives who are driving financial performance and helping their businesses access the capital markets. VP, Capital Markets & Finance. Altitude Home Loans. Embrace Home Loans. Anchor Loans.

Finance 316

Finance Loans Title Lending 316

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. billion in assets, the companies claim.

Lending 309

Lending Banks Commercial Loan Officer 309

Housing Wire

MAY 11, 2022

In this hot housing market, Michigan-based wholesale lender Homepoint understands the key to originating more home loans is ensuring more sellers accept offers made by its buyers. The firm expects homebuyers to close a cash home purchase loan as fast as 10 business days without an appraisal or financing contingency.

Lending 377

Lending Loans Investor Finance 377