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. 15, 2023, and responses were due by Oct. The tightening came amid elevated interest rates and uncertainty in economic conditions.

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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. Respondent banks received the survey on December 18, 2023, and responses were due by January 9, 2024. There’s some optimism, however.

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Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). We welcome a partnership with the FHLB-SF to enhance our strength and reach as America’s CDFI,” said Steven Sugarman , founder of the Change Company, the parent company of Change Lending. “We

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Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. is more than 4 percentage points higher than for repeat buyers in recent months.

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Housing Wire

MAY 13, 2024

Rocket will also provide fair lending training to its employees and improve outreach regarding the financing options available for properties within the boundaries of Native American reservations. Rocket Companies , the lender’s parent company, had 14,700 employees based in the United States and Canada as of December 31, 2023.

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Housing Wire

SEPTEMBER 26, 2023

Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.

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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.

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Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

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Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The Detroit-headquartered lender reported a GAAP net loss of $233 million in Q4 2023, following a GAAP net gain of $115 million in Q3. Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2

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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.

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Housing Wire

MARCH 12, 2024

in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5 of overall U.S. About 29.5%

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Housing Wire

NOVEMBER 16, 2023

CUSO Home Lending rolled out Dark Matter Technologies ’ Empower loan origination system (LOS) for its credit union owners. Dark Matter Technologies, under Constellation Software ‘s umbrella, is also focused on working towards a smooth transition over to Constellation with its 1,300-plus employees for the remainder of 2023.

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Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). Home lending revenues declined to $3.3

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Mortgage Lending Retail Business 357

Housing Wire

JUNE 23, 2023

Nominations for HousingWire’s 2023 HW Insiders are open until the end of today, June 23, 2023. Today marks the last day to submit a nomination for the 2023 HW Insiders award. HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. has been through a lot since 2019.

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Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.

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Housing Wire

OCTOBER 12, 2022

23, 2023 for Credit Suisse and March 3, 2023 for Morgan Stanley. trillion in 2023. 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.

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Housing Wire

OCTOBER 10, 2023

“Our Marketplace unites a multitude of industry-leading solutions with the MeridianLink One platform to deliver exceptional consumer experiences and streamline contemporary lending processes,” Megan Pulliam, SVP of MeridianLink Marketplace, said in a statement. In the second quarter of 2023, Blend reported a non-GAAP net loss of $22.7

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Housing Wire

JUNE 23, 2023

Nominations for HousingWire’s 2023 HW Insiders are open until the end of today, June 23, 2023. Today marks the last day to submit a nomination for the 2023 HW Insiders award. HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. has been through a lot since 2019.

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Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. Responses were received from 66 domestic banks and 19 U.S.

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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. Starting March 1, 2023, servicers will be required to maintain data on borrowers’ age, race, ethnicity, gender and preferred language.

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Housing Wire

NOVEMBER 14, 2022

HousingWire spoke to Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions, about the outlook for non-QM in 2023 and why lenders should keep an eye on the non-QM space. HW: What is the outlook for non-QM in 2023? TH: Despite a turbulent end to 2022, I feel strongly that the 2023 outlook for non-QM is quite promising.

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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.

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Lending Retail Loan Officers Mortgage 326

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We would feed them leads, but they came back to us because they didn’t know how to structure the full document deals,” Jay Voorhees, co-founder at JVM Lending, said in an interview with HousingWire.

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Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. million in 2023, compared to a profit of $719.4 The GAAP net loss in 2023 was $69.7 billion in mortgages in 2023, lower than the $127.3 billion in Q3 2023 and $25.1 billion in Q3 2023 and $25.1 billion in 2023, including $20.6

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Housing Wire

SEPTEMBER 26, 2023

home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” National Index posted an increase of 0.6%, while the 10-City posted a 0.8% increase and 20-City Composite a 0.9%

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Inventory Housing Market Lending Buyers 426

Housing Wire

OCTOBER 13, 2023

At two top-five depository mortgage lenders, Wells Fargo and JPMorgan Chase , the third quarter of 2023 earnings reflected different strategies in the mortgage space. The bank completed its exit from the correspondent channel in Q3 2023. compared to Q2 2023 but declined by 14.8% compared to Q2 2023 but declined by 14.8%

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Mortgage Lending Business Retail 344

Housing Wire

DECEMBER 8, 2022

Lending standards loosened in November for the first time in nine months as mortgage rates remaining elevated and the housing market slowed further, the Mortgage Bankers Association (MBA) said on Thursday. While mortgage rates are expected to drop lower in 2023, the forecast for the housing market is expected to get gloomier next year.

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Eyes on Housing

MAY 12, 2023

According to the Federal Reserve Board’s April 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the first quarter of 2023—banks reported that lending standards tightened for most residential real estate (RRE) and commercial real estate (CRE) loan categories. Read More ›

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Lending Real Estate Loan Officers Construction 134

Housing Wire

FEBRUARY 7, 2024

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. million GAAP net income in 2023 — lower than the figure of $864.8 In 2023, Rithm acquired $1.4 million in 2023. billion in Q4 2023, lower than the $11.1

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Valuation Business Mortgage Loan Officers 329

Housing Wire

DECEMBER 7, 2023

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Modernization Retail Valuation Insurance 346

Housing Wire

JUNE 13, 2023

The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023. Warehouse lending, one of the sources of liquidity to independent mortgage bankers (IMBs), usually has good yields and short term, according to industry experts. .” The bank had $1.7 billion in commitments, 35% down year over year.

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Lending Finance Insurance Investors 285

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. trillion as of the fourth quarter of 2023 from an expected $19.4 Tappable home equity is expected to decrease to a forecasted $18.1

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Lending Valuation Mortgage Government 316

Housing Wire

JANUARY 2, 2024

2023 is in the rearview mirror — a year of tumult, reduced volume and a wave of industry exits and consolidations. However, the business continued to feel the ongoing impact of RMF’s collapse throughout 2023, and it will likely persist well into the new year.

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Eyes on Housing

FEBRUARY 12, 2024

According to the Federal Reserve Board’s January 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards loosened for all commercial real estate (CRE) loan categories and residential real estate (RRE) categories in the fourth quarter of 2023.

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Real Estate Lending Loan Officers Government 100

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. The new product is in the near-final stages of production and will be available in-market by the end of June 2023.

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Lending Loan Officers Mortgage Investors 286

Housing Wire

JANUARY 10, 2023

Ongoing affordability challenges are expected to limit buyers from entering the market in 2023, according to Fannie Mae , which will result in continued decline in home sales in coming months. The agency expects the average 30-year fixed rate mortgage rate in 2023 to rise to 6.3% in the same period.

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Buyers Lending Mortgage Government 453

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

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