Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We

Planet Home Lending volunteers fight hunger

Housing Wire

The Howard County Food Bank in Columbia, Maryland, gained valuable volunteers and donations from Planet Home Lending as the organization partnered with Farmlink to deliver farm-fresh produce to the food bank. The post Planet Home Lending volunteers fight hunger appeared first on HousingWire.

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Homepoint shrinks its lending capacity

Housing Wire

Over the past year, Homepoint sold off large chunks of its business including selling its delegated correspondent business to Planet Home Lending. The post Homepoint shrinks its lending capacity appeared first on HousingWire. Home Point Financial Corp.

Wells Fargo to shutter correspondent lending?

Housing Wire

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.

Wells Fargo taps Kleber Santos to lead consumer lending

Housing Wire

As Wells Fargo contemplates a smaller footprint in mortgage, the nation’s fourth-largest bank named Kleber Santos as chief executive officer of consumer lending. Weinbach joined Wells Fargo in April 2020 to lead consumer lending. .

Mountain West Financial steps back from wholesale lending

Housing Wire

The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. The post Mountain West Financial steps back from wholesale lending appeared first on HousingWire.

Lending standards tighten due to high rates, worsening economic outlook

Housing Wire

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said.

Banc of California sues Sprout Mortgage, Planet Home Lending 

Housing Wire

A recent lawsuit filed by Banc of California is claiming that mortgage lenders and servicers Sprout Mortgage (now defunct) and Planet Home Lending owe $1.5

Cornerstone Home Lending to buy The Roscoe State Bank

Housing Wire

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.

Lone Peak Lending joins Panorama Mortgage Group

Housing Wire

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp.

FHFA: GSE servicers must keep fair lending data

Housing Wire

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 post FHFA: GSE servicers must keep fair lending data appeared first on HousingWire.

Suzy Lindblom named COO of Kind Lending

Housing Wire

Wholesale lender Kind Lending has brought on mortgage veteran Suzy Lindblom as its chief operating officer, the company said Tuesday. Lindblom has 40 years of experience in the mortgage space, most recently serving as the COO of Planet Home Lending for three and half years.

Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. To that end, the GSEs began accepting alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

The Real Brokerage to acquire LemonBrew Lending

Housing Wire

Presented by: Acra Lending. The post The Real Brokerage to acquire LemonBrew Lending appeared first on HousingWire. Publicly traded real estate firm The Real Brokerage has struck an agreement to acquire the mortgage brokerage arm of real estate and mortgage technology company LemonBrew.

Stearns Lending to lay off 348 workers

Housing Wire

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. The post Stearns Lending to lay off 348 workers appeared first on HousingWire.

Guaranteed Rate to acquire Stearns Lending

Housing Wire

The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire. M&A / Funding Mortgage Featured Guaranteed Rate M&A MORTGAGE M&A Stearns Stearns Lending

FHFA extends relaxed appraisal, lending standards

Housing Wire

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. The post FHFA extends relaxed appraisal, lending standards appeared first on HousingWire.

Ex-Zillow execs promise revolution in lending

Housing Wire

Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. The post Ex-Zillow execs promise revolution in lending appeared first on HousingWire.

Automation is coming to non-QM lending

Housing Wire

Automated underwriting for agency [ Fannie Mae and Freddie Mac ] products is definitely much easier because there’s a defined set of scenarios that you have to meet,” says Keith Lind, executive chairman and president of Acra Lending (a non-QM lender formerly known as Citadel Servicing ).

FHFA report on GSE fair lending reveals “persistent” racial divide

Housing Wire

The regulator, which supervises Fannie Mae and Freddie Mac’s fair lending activities, said Black and Latino borrowers respectively represented 6.3% The new report also revealed geographic trends in Fannie Mae and Freddie Mac’s fair lending activities.

2021 means new challenges for mortgage lending

Housing Wire

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. Buckle up lending community — this may be only getting started!

Homepoint exits correspondent following deal with Planet Home Lending

Housing Wire

Connecticut-based mortgage servicer and lender Planet Home Lending has entered into an agreement to acquire assets from Homepoint ‘s delegated correspondent channel for $2.5 The deal will also contribute to Planet Home Lending’s servicing portfolio, now at $54 billion.

Jim Linnane tapped to lead retail mortgage lending at Flagstar

Housing Wire

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. The keys to lending in a post-refi boom world.

Opinion: Affordable lending requires creative thinking

Housing Wire

With the increasing regulatory focus on expanding affordable lending programs, mortgage lenders need to have a plan to serve the underserved. Surprisingly, risk isn’t the main factor affecting lenders’ appetite for DPA and affordable lending products today.

Regulators show united front on targeted lending programs

Housing Wire

Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing. The watchdog agency provided clarity for the kind of research and data that go into creating a targeted lending program.

Opinion: Lack of conformity in title fees facilitates predatory lending

Housing Wire

Furthermore, because there is no unified platform for shoppers to compare title insurance costs for lenders, this can result in predatory lending practices on behalf of borrowers. A lack of conformity in title insurance creates predatory lending.

Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed.

Opinion: Is the lending market overcorrecting toward tech? Maybe

Housing Wire

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Mortgage lending is facing the same disproportionate dilemma that technology, in many ways, can make worse.

Why mortgage lending standards will ease in 2021

Housing Wire

Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. The post Why mortgage lending standards will ease in 2021 appeared first on HousingWire.

Acra Lending launches new jumbo prime program

Housing Wire

Acra Lending, one of the largest independent non-QM specialty finance lenders, has added to its suite of mortgage loan programs with the launch of its Jumbo Prime mortgage solution. The post Acra Lending launches new jumbo prime program appeared first on HousingWire.

3 misconceptions about using AVMs in home equity lending

Housing Wire

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending.

HUD ends silence on targeted lending programs

Housing Wire

ECOA prohibits reverse redlining — targeting minority communities for predatory lending — but Congress amended the statute in 1976 to allow for special purpose credit programs. It could be a sustainable lending product for a community where a lender has had poor penetration.

Lenders tread carefully around targeted lending programs

Housing Wire

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Still, FHFA Acting Director Sandra Thompson is pitching targeted lending programs.

Cornerstone Home Lending to acquire Roscoe State Bank

Housing Wire

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. Increasing Lending and Servicing Capacity – Regardless of Rates.

Opinion: The not-so-surprising resurgence of home equity lending

Housing Wire

This too is changing as innovation in the home equity lending space has finally arrived. Adam Boyd of Head of Home Equity Lending at Citizens Bank. The post Opinion: The not-so-surprising resurgence of home equity lending appeared first on HousingWire.

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