Housing Wire

JULY 11, 2022

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. . Wells Fargo’s mortgage revenues totaled $1.5

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Lending Retail Business Mortgage 368

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. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2020,” Fannie Mae said in a letter to lenders. “We 31, 2020,” Fannie Mae said in a letter to lenders. 31, 2021.

Lending 539

Lending Appraisal Inspection Property Appraisal 539

Housing Wire

DECEMBER 2, 2020

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.

Mortgage 340

Mortgage Lending Technology Modernization 340

Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. The financing arrangement was also dated June 3, 2020. It originated a mortgage volume of $21.7 trillion in 2023.

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Lending Contracts Finance Mortgage 370

Appraisal Buzz

MAY 17, 2021

. “Despite interest rates trending downward in April across all mortgage products, the decreases did not seem to be enough to bring borrowers – particularly refi borrowers – back to the table,” says Black Knight Secondary Marketing Technologies President Scott Happ. “April saw the.

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Lending Mortgage Technology Appraisal 221

Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

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Lending Contracts Mortgage 333

Housing Wire

MARCH 15, 2021

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. Power 2020 U.S. Record low-interest rates have driven U.S.

Lending 388

Lending Retail Mortgage Loan Officers 388

Housing Wire

JANUARY 5, 2021

It’s unclear what the deal values Stearns at, but the lender originated $20 billion in mortgages last year, according to Guaranteed Rate, which claims to have originated $73 billion in mortgages in 2020. Guaranteed Rate ended the year as the 11th-largest lender in the country, according to Inside Mortgage Finance.

Lending 536

Lending Retail Real Estate Agent Brokerage 536

Housing Wire

JUNE 15, 2021

Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. It funded $4.2

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Lending Loan Officers Mortgage Government 432

Housing Wire

OCTOBER 22, 2020

This epic headline punctured any bubbles the 2020 bubble boys had left in their arsenal. million and purchase applications would never hit 300 until the years 2020-2024. Well, here we are in 2020 entering into the best housing demographic patch ever recorded in U.S. So, let’s take a look at the housing data in 2020 so far.

Housing Market 535

Housing Market Mortgage Buyers Government 535

Housing Wire

AUGUST 20, 2021

The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% from the year prior, a Home Mortgage Disclosure Act (HMDA) report published by the Consumer Financial Protection Bureau this week disclosed. But some of the industry’s same problems remained in 2020. million in 2020.

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Insurance Mortgage Marketing Lending 424

Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% across U.S. Data-driven analysis.

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Lending Mortgage Sellers Technology 424

Housing Wire

FEBRUARY 2, 2023

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience.

Lending 352

Lending Real Estate Agent Agents Business 352

Housing Wire

SEPTEMBER 27, 2022

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. It rebranded in summer of 2020. The vast majority of loans – more than 80% – are originated by Rocket Mortgage , the data shows.

Brokerage 365

Brokerage Lending Loan Officers Technology 365

Housing Wire

DECEMBER 7, 2022

The Consumer Financial Protection Bureau stated on Tuesday that it will be lenient when enforcing changes made in the 2020 Home Mortgage Disclosure Act Final Rule on the closed-end loan reporting threshold. On September 23, 2020, the U.S. How to reach the growing segment of Hispanic American homebuyers in 2023.

Mortgage 335

Mortgage Lending Investors Housing Market 335

Housing Wire

FEBRUARY 5, 2021

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. What 2021 holds for Rocket Pro TPO.

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Lending Mortgage Marketing Housing Market 336

Housing Wire

MARCH 29, 2021

Amid this global pandemic, mortgage rates have been at historically low levels, borrower demand has increased, refis have broken records and lenders have had to shift in many instances to a remote workforce. Power 2020 U.S. The post Pandemic ushers in a new era of digital lending appeared first on HousingWire.

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Lending Tools Finance Mortgage 414

Housing Wire

SEPTEMBER 8, 2020

trillion in home loans between April and June, marking the biggest quarter in at least two decades, according to mortgage data firm Black Knight. Most took advantage of 3% interest rates to lower monthly payments; cash-out lending comprised just 3 out of 10 refi originations in the second quarter, Black Knight found.

Lending 471

Lending Mortgage Marketing 471

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. fair lending laws has been on regulators’ radar in recent years. Its findings showed that mortgage lenders violated U.S.

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Mortgage Lending Law Loan Officers 423

Appraisal Buzz

JUNE 2, 2022

BLOG VIEW: The mortgage market is shifting. Experts had been predicting that interest rates would be rising as early as late 2020. The post Mortgage Lending Creativity Adding Risk appeared first on Appraisal Buzz. Now that it’s here, the impacts are landing. Now that it’s here, the impacts are landing.

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Lending Mortgage Business Appraisal 150

Housing Wire

DECEMBER 14, 2020

For perspective, I am starting with the condition of the 2020 housing market before the first infections. Before COVID-19, in the first two months of the year, the 2020 housing market appeared on a powerful upswing. But the 2020 U.S. The one downside of the 2020 housing market is the rapid home-price growth.

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Housing Market Government Marketing Mortgage 545

Housing Wire

APRIL 13, 2021

Across the mortgage industry, revenues swelled to record highs in 2020. Nonbank lenders and mortgage subsidiaries of chartered banks reaped the rewards – they nearly tripled their profit per loan last year. There was a downside to the heightened production revenue led by secondary market gains. “On

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Valuation Mortgage Marketing Housing Market 370

Housing Wire

SEPTEMBER 8, 2021

The Office of the Comptroller of Currency announced today that it is moving to gut the controversial Community Reinvestment Act (CRA) rule issued in 2020. In turn, the new rule was picked apart by fair housing advocates and the mortgage industry. The post OCC moves to rescind 2020 version of CRA rule appeared first on HousingWire.

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Modernization Insurance Lending Development 357

Housing Wire

MAY 11, 2022

.” But how does an all-cash offer benefit a mortgage lender? It also plans to hook prospective homebuyers by boosting their bottom line: They get to lock in lower wholesale mortgage rates that can cost the homebuyer an average of $8,000 less over the life of the loan. Planet Home Lending entered into a $2.5

Lending 378

Lending Real Estate Agent Investors Finance 378

Appraisal Buzz

DECEMBER 2, 2021

Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. The post Mortgage Lending Sees Fast Dip During Q3 2021, ATTOM Reports appeared first on Appraisal Buzz.

Lending 195

Lending Mortgage Appraisal 195

Housing Wire

APRIL 27, 2021

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.

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Lending Retail Mortgage 218

Housing Wire

JULY 15, 2022

Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Windsor, Ontario-based Edison Financial will officially change its name to Rocket Mortgage Canada and operate as Rocket Mortgage on August 8.

Brokerage 388

Brokerage Mortgage Real Estate Lending 388

Housing Wire

FEBRUARY 9, 2021

Mega Capital Funding just became the latest company to re-enter the non-Qualified Mortgage space with the launch of several new product lines. Non-QM lending is poised for growth in 2021. Back in March, Mega Capital Funding became one of many mortgage lenders that ceased all non-QM operations. Presented by: Angel Oak.

Lending 346

Lending Investors Mortgage Marketing 346

Housing Wire

AUGUST 2, 2021

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. The post Mortgage lenders are loosening standards on jumbos appeared first on HousingWire.

Mortgage 464

Mortgage Lending Government Loan Officers 464

Housing Wire

JANUARY 15, 2021

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. In a statement, Figure said the $100 million loan facility represents another push toward growth in mortgage lending. How 2020 continues to impact mortgage closings.

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Lending Technology Finance Insurance 256

Housing Wire

DECEMBER 7, 2021

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. A special purpose credit program can take many forms.

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Lending Law Design Government 425

Housing Wire

JANUARY 4, 2021

Citadel Servicing Corporation (CSC) , one of the country’s largest non-QM lenders , is rebranding as Acra Lending (Acra). Then known as Citadel Servicing, the company was acquired by HPS Investment Partners, LLC in February 2020 for an undisclosed price. WFG reports its highest volume months ever during Q2 and Q3 of 2020.

Lending 328

Lending Investing Business Retail 328

Housing Wire

OCTOBER 30, 2020

Floyd, who will assume the position in November 2020, brings more than 20 years of experience in the real estate industry to the role. Mortgage Contracting Services , a national provider of residential and commercial property services, hired Jason Myers as vice president of business development. and as president of SKLD Title Services.

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Lending Clients Real Estate Development 348

Housing Wire

FEBRUARY 4, 2021

The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. With mortgage rates hovering below 3% for over six months now, Sam Khater, Freddie Mac’s chief economist, said this may be a sign of an economy still struggling.

Mortgage 542

Mortgage Lending Training Inventory 542

Housing Wire

MARCH 25, 2022

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. Freedom Mortgage Bank of America Homepoint Guaranteed Rate. The two top lenders, Rocket Mortgage and United Wholesale Mortgage , each maintained their positions.

Mortgage 424

Mortgage Lending Home Improvement Investing 424

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. mortgage rate at the end of August. “At You’re probably thinking, “Uh, why on earth would she do that?”

Mortgage 471

Mortgage Clients Lending Home Improvement 471

Housing Wire

JUNE 17, 2022

Wells Fargo this week warned investors the bank’s mortgage business could drop by almost 50% in the second quarter from the prior quarter. mortgage lender by volume and largest depository, originated $37.9 Mortgage banking noninterest income in the first quarter totaled $693 billion, down from $1.3 billion year-over-year.

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Business Mortgage Lending Investors 401