Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8 Bank of America followed closely with 17,056 home improvement loans worth $2.39

Banks 326

Banks Renovation Marketing Lending 326

Housing Wire

JULY 31, 2023

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations.

Loans 299

Loans Finance Residential Renovation 299

Housing Wire

JUNE 8, 2021

One issue is that among the low inventory, there are even fewer homes that are move-in ready, said Keith Lind, executive chairman and president of Acra Lending. “We The average home age in the United States is about 40 years old, so there’s a huge stock of homes that need to be renovated.”.

Loans 324

Loans Lending Renovation New Construction 324

Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. In turn, thousands of loan originators could soon be looking for a new lender to hang their license. They weren’t so small that they couldn’t handle us.”

Loans 361

Loans Mortgages Loan Officer Pre-approval 361

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S. “The U.S.

Loans 432

Loans Banks Residential Finance 432

Housing Wire

JUNE 30, 2022

Not only does Flagstar offer brokers direct access to seasoned sales, support and underwriting teams, it also provides a product set that includes specialty lending options like Advantage non-agency loan, jumbos, new construction, renovation products and HELOCs, and in the pipeline, loans to foreign nationals, seconds and investor property loans.

Lending 304

Lending Banks Technology New Construction 304

Housing Wire

NOVEMBER 21, 2023

California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England. In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint.

Loan Officer 339

Loan Officer Lending Loans Finance 339

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. AFR offers agency, nonagency and government lending products. It also has a niche in construction and manufactured home loan programs.

Lending 324

Lending New Construction Construction Finance 324

Housing Wire

FEBRUARY 20, 2024

Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.

Loan Officer 356

Loan Officer Lending Technology Loans 356

Housing Wire

NOVEMBER 20, 2023

In 2022 alone, APM acquired 11 branches from Arizona-based Sunstreet Lending and Sunstreet, along with 25 branches from the Minnesota retail lender Lend Smart Mortgage and 51 branches from the now-defunct AmeriFirst Financial Inc. The lender has been in acquisitive mode despite the industry downturn.

Mortgages 335

Mortgages Lending Finance Loans 335

Housing Wire

FEBRUARY 3, 2023

HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases. Additionally, 65% of the total respondents are currently planning or have plans to renovate their homes within the next two years.

Renovation 356

Renovation Fixed-rate mortgage Equity Finance 356

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. million in cash.

Mortgages 391

Mortgages Lending Loan Officer Loans 391

HomeLight

MAY 8, 2024

Are you considering a hard money loan to fast-track your next real estate investment? Whether you’re planning to flip a house or purchase a rental property, a streamlined hard money loan can be a helpful option. What is a hard money loan? How does a hard money loan work?

Hard money loan 98

Hard money loan Loans Home sale contingency Finance 98

Housing Wire

JANUARY 12, 2024

The original reporting described the amount of the loan as nearly one-fifth higher than the current $4 million limit for “HomeSafe,” the private-label product offered by FOA’s reverse mortgage division Finance of America Reverse (FAR). The company later told RMD, however, that the loan was within current product lending limits.

Mortgages 351

Mortgages Finance Lending Equity 351

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago for us, fix and flip [loan interest] was probably 6.5%, but today, you’re probably getting between 10% and 12%,” Lind said.

Finance 347

Finance Marketing Lending Investor 347

Propmodo

APRIL 23, 2024

It’s hard to go a day in the commercial real estate world lately without hearing about Commercial Property Assessed Clean Energy (C-PACE) lending. billion of C-PACE loans were originated nationwide in 2023, a nearly 33 percent increase from 2022. The average size for Nuveen Green Capital’s PACE loans jumped nearly threefold last year.

Lending 62

Lending Commercial Finance New Construction 62

HomeLight

JANUARY 29, 2021

But rather than draining their savings, most homeowners opt to finance their home home improvement with credit or a home renovation loan. If you’re considering taking out a home renovation loan to spruce up a powder room or gut the kitchen, we’ve got you covered. An overview of home renovation loan options.

Renovation 98

Renovation Loans Equity Construction 98

Housing Wire

FEBRUARY 16, 2022

Let’s look at what private money lenders do and how they operate, as well as the potential benefits of using private or hard money loans and how to locate and select a reputable private money lender. If your state requires a lending license, make sure a the lender is licensed. How to vet a private money lender.

Purchase and sale agreement 382

Purchase and sale agreement Investor Hard money loan Lending 382

Housing Wire

SEPTEMBER 24, 2021

Traditional lending approaches are time-consuming when it comes to fix-and-flip properties. Acra Lending is looking to solve these challenges and make fix-and-flip lending simpler and more efficient for borrowers, lenders and brokers. They’ll see what they need and what has to be done to get the loan processed.

Lending 358

Lending Finance Loans Investor 358

Housing Wire

FEBRUARY 28, 2024

Deephaven has the flexibility to underwrite based its own lending standards and requirements conducive to challenges in the market. Bank Statement loans are specifically for self-employed borrowers who can submit personal or business bank statements for income verification instead of tax returns. DSCR loans are always a popular option.

Debt-to-income ratio 340

Debt-to-income ratio Mortgages Banks Investor 340

Housing Wire

APRIL 18, 2023

Given that HELOC organizations are more streamlined than closed-end lending, there is greater importance for the adoption of electronic closing documents, MISMO said last week, calling for participants to join a new development workgroup (DWG). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Equity 271

Equity Lending Finance Loans 271

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. “With our new home equity loan, clients can improve their lives by having a payment they can more comfortably afford.” ” U.S.

Equity 378

Equity Loans Lending Banks 378

Housing Wire

JUNE 30, 2021

As purchase transactions move back to the forefront of lending, the broker channel will only continue to grow and gain momentum. Caliber Home Loans, Inc., a home loan company, offers resources to help support a broker’s business for continued success. Tony Kottenbrock, SVP, Wholesale Lending.

Lending 382

Lending MLS Loans Renovation 382

Housing Wire

JULY 23, 2021

Acra Lending is doing what it can to help free up inventory. The company specializes in non-QM products, a sector that serves many borrowers who might not fit agency loans. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. 3-month bank statement.

Marketing 424

Marketing Banks Lending Loans 424

Housing Wire

NOVEMBER 30, 2021

There is a bigger consensus of confidence in the product now,” said Keith Lind, executive chairman and president of Acra Lending. The amount of equity in these loans, the underwriting, the guardrails around ATR have proven that this is a real, sustainable product that investors like.”. How Acra Lending can help.

Lending 314

Lending Investor Loans New Construction 314

Housing Wire

OCTOBER 16, 2023

New initiatives include allowing homebuyers to leverage income from accessory dwelling units (ADUs), expanding mortgage lending for U.S. FHA is considering potential policy changes that could increase the funds available to borrowers to make renovations and repairs,” the announcement said.

Land 450

Land Design Construction Loans 450

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. Instead, they’ll be seeking to renovate their homes.”.

Loans 377

Loans Renovation Construction Mortgages 377

Housing Wire

JANUARY 5, 2024

Generally, the Fed will adjust its lending rate by a quarter percent, but at times the adjustment has been larger. Buyers who still qualify for their target home loan might decide to look for smaller or more affordable properties in order to maintain their monthly housing budget.

Fixed-rate mortgage 422

Fixed-rate mortgage Agents Marketing Lending 422

Housing Wire

FEBRUARY 15, 2023

In addition to roles as branch manager and regional manager at different lenders, Sheppard has climbed through the ranks as a loan officer at APM, and most recently served as APM’s EVP of national production. The leadership changes at APM come amid the lender’s quest for expansion.

Lending 305

Lending Loan Officer Loans Mortgages 305

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans.

Mortgages 463

Mortgages VA loan Finance Loans 463

Housing Wire

DECEMBER 12, 2022

Despite struggles in retail and wholesale, Pennymac has remained a standout in the correspondent channel, in which lenders aggregate loans from smaller originators. The correspondent channel has limitations in terms of margins, due to the fact that lenders need to pay the network of originators that they aggregate loans from.

Marketing 366

Marketing Lending Banks Loans 366

Real Trends

DECEMBER 14, 2022

Chris Griffith is the CEO of Vetted VA, a training company and trusted source for VA home loan information. For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Learning the ropes of VA loans. Vetted VA seeks to change that narrative.

VA loan 103

VA loan Loans Lending Loan Officer 103

Housing Wire

AUGUST 15, 2022

Mortgage lenders are now considering adding home-equity lending to their portfolios as they look for growth in a declining refinance market and seek opportunities to cross-sell to their existing customer base by tapping into historic amounts of home equity,” said Joe Mellman, senior vice president and mortgage business leader at TransUnion.

Equity 417

Equity Lending Fixed-rate mortgage Loans 417

Housing Wire

JULY 5, 2022

billion single-family and multifamily loans nationwide. The acquisition of Portland, Oregon-based Riverbend and its subsidiaries, announced originally in late April, is expected to fit in well with Redwood’s existing business-purpose lending platform, CoreVest. Specialty finance company Redwood Trust Inc.

Finance 359

Finance Investor Loans Lending 359

Housing Wire

MAY 16, 2022

The FHFA will also consider whether Fannie Mae should purchase construction to permanent multifamily loans, which would streamline the development process and reduce costs for developers. The national plan also touted a recent announcement from Freddie Mac that it will look at whether to finance chattel loans for manufactured housing.

Finance 346

Finance Development Lending Renovation 346

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.

Finance 368

Finance Lending Mortgages Renovation 368

Housing Wire

FEBRUARY 1, 2024

The Brookings Institution summed it up well: “Today, downtown Detroit is nearly unrecognizable from previous decades, with new features such as the QLine streetcar system, a renovated Detroit Tigers ballpark, a riverwalk, and Campus Martius Park. That is anathema to the spirit of fair housing (and lending).

Lending 367

Lending Equity Development Loans 367