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.

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.

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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.

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.

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.

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.

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

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!

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 ).

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: 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Mortgage lending volume in 2020 likely to break records

Housing Wire

Fannie Mae , the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 The post Mortgage lending volume in 2020 likely to break records appeared first on HousingWire.

Pandemic ushers in a new era of digital lending

Housing Wire

That has caused a remarkable shift to a digital lending model that has significantly impacted a lender’s ability to do business during these challenging times. The post Pandemic ushers in a new era of digital lending appeared first on HousingWire. Mortgage digital lending HWplus

FHFA extends relaxed appraisal, lending standards

Housing Wire

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.

Homepoint lends homebuyers the power of all-cash offers

Housing Wire

“By combining all-cash offers with the lower rates and fees associated with wholesale lending, independent originators give homebuyers and their real estate agents the best shot at closing deals and saving money,” Shoemaker added. Planet Home Lending entered into a $2.5

Chase sees huge digital adoption in home lending business

Housing Wire

Another one would be home lending. The post Chase sees huge digital adoption in home lending business appeared first on HousingWire. Fintech Loan Origination Tech Mortgage Chase Home Lending Digital mortgage JPMorgan Chase Rohan Amin

Deeper asset history unlocks new lending opportunities

Housing Wire

The post Deeper asset history unlocks new lending opportunities appeared first on HousingWire. Until recently, lenders have taken a “less is more” approach to collecting asset documentation, and understandably so.

Successful mortgage lending starts with superior customer service

Housing Wire

What happens when borrowers can’t or won’t walk into a lending branch? HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending.

Glenn Stearns’ Kind Lending originates $1B in 6 months

Housing Wire

Kind Lending , national wholesale mortgage lender and second brainchild to mortgage veteran Stearns, announced that the lender originated $1 billion in the first six months of production – a feat that took Stearns first company, Stearns Lending , 15 years to accomplish.

[PULSE] Mortgage lending in a post-COVID, digital world

Housing Wire

In fact, the changes we’ve seen since the advent of the global pandemic are significant enough to serve as a catalyst that will drive all lending digital. The trends and lending requirements I’ve highlighted below became important long before the coronavirus made it to the U.S.

How student lending can benefit non-bank lenders

Housing Wire

This gives non-bank lenders and servicers significantly greater access to more consumers and provides an opportunity for student lending to make an impact. Student lending offers an entryway into consumer finance that non-bank originators have not had access to historically.

Are these factors creating chaos in your mortgage lending ops?

Housing Wire

The post Are these factors creating chaos in your mortgage lending ops? Few other industries must deal with the level of complexity of home finance.

A guide to choosing the right non-QM lending partner

Housing Wire

Here is where it gets murky – choosing the right non-QM lending partner! These are important questions to ask when choosing the right non-QM lending partner – especially in today’s volatile market. The conditions in today’s market have pushed non-QM to the forefront.

What are the building blocks of digital lending?

Housing Wire

HousingWire: What are the key factors and trends driving the adoption of digital lending? Steve Meirink: Digital lending is now a must-have for organizations that need to differentiate in the marketplace by moving faster with greater agility while at the same time reducing costs.

Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions

Housing Wire

We continue to make investments in our technology to streamline the process for our broker partners as well as integrate third-party platforms like Arive, Caylx All-In and Experience.com,” said John Gibson, SVP and national sales director of wholesale and correspondent lending.

Banks 261

Freddie Mac first out of the gate with plans for targeted lending programs

Housing Wire

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead. So I say keep the guidance coming, because we are building it and we hope the lending community will come.”.