Housing Wire

JUNE 22, 2023

Connecticut-based lender and servicer Planet Home Lending announced on Thursday a deal that boosts its servicing portfolio, which the company claims is already above the $90 billion mark. However, Planet claims its servicing portfolio stood at $94 billion as of June 2023, and the deal with Village increases its MSR book by 10.6%.

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Lending Mortgage Sellers Finance 287

Housing Wire

APRIL 9, 2024

The true cost of redlining Lenders need to carefully evaluate their lending strategies to ensure that they are not unintentionally practicing redlining by neglecting MMCT and LMI neighborhoods, or they may face millions in penalties. Adapting to meet the needs of an evolving homebuyer pool is vital to success in mortgage lending.

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Modernization Lending Legal Legal Fees 312

Housing Wire

APRIL 16, 2024

“Expect independent mortgage banks to continue taking share from the large commercial depositaries, which are still shrinking their footprints in lending and servicing,” Hagen said in a report on Tuesday. billion in outstanding residential mortgages on its books through March 31, 2024, down from $228.9 billion in Q4 2023 and $229.3

Mortgage 375

Mortgage Lending Business Finance 375

Housing Wire

AUGUST 31, 2023

Encompass Lending Group , a subsidiary of real-estate services platform Fathom Holdings, has acquired Austin, Texas-based Elite Financing Group, the company announced Thursday. Encompass Lending Group, with 11 active branches in seven states and Washington, D.C., Terms of the deal were not disclosed.

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Finance Lending Retail Mortgage 342

Housing Wire

NOVEMBER 28, 2023

The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday. mortgage lender, Charlotte-based BofA had $229 billion in outstanding residential mortgages on its books through Sept.

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Law Mortgage Loan Officers Lending 403

Housing Wire

FEBRUARY 1, 2023

“As we said in our January 10 press release, we are exiting the correspondent lending business. Wells also decided to reduce its mortgage servicing rights (MSRs) book. The workforce reduction started on Tuesday at the Wells Fargo Mortgage office in Springfield.

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Lending Mortgage Finance Business 349

Housing Wire

JANUARY 10, 2023

Kleber Santos , CEO of consumer lending since his appointment in July, said the bank will continue to be the primary mortgage lender to Wells Fargo bank customers and minority homebuyers through its mortgage retail team. “As In practice, the bank’s portfolio on correspondent lending was already in free fall.

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Lending Real Estate Agent Mortgage Finance 477

McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? Read the full survey results below. We do that.

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Lending Appraisal Property Taxes Training 99

Housing Wire

FEBRUARY 22, 2024

The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending. The unpaid principal balance in its servicing book increased to $509 billion as of Dec.

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Mortgage Clients Lending Business 402

Housing Wire

FEBRUARY 16, 2022

If your state requires a lending license, make sure a the lender is licensed. In comparison to larger banks or even a local credit union, private lending is more reliant on relationships. Establish a private money lending network for real estate. Put together a deal pitch book.

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Real Estate Investing Investors Renovations 381

Housing Wire

DECEMBER 5, 2023

Benefits to lenders and consumers Employing such technological safeguards carries major advantages across mortgage lending stakeholders. Consumers also benefit as improved loan quality and lower perceived default risk opens lending access, allowing originators to offer more borrowers mortgage financing, often at better interest rates.

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Technology Mortgage Investors Lending 364

Housing Wire

AUGUST 4, 2022

Jay Farner, vice chairman and CEO of Rocket Companies, said the company introduced new lending programs, forged new mortgage partnerships, launched the solar business and expanded the brand to Canada during the quarter. The company’s servicing book unpaid principal balance reached $538 billion at June 30, 2022, up 6% from June 30, 2021.

Business 403

Business Lending Mortgage 403

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. We anticipate a smooth transition for our correspondent lending associates and business partners, with no disruption in service as the TIAA Bank team moves to PenFed,” TIAA said in a statement. billion in cash.

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Lending Retail Business Contracts 359

Housing Wire

SEPTEMBER 1, 2020

Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City. Citizens is not alone.

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Loan Officers Retail Lending Contracts 366

Housing Wire

SEPTEMBER 15, 2023

which was only partially due to holding subprime mortgages on its books. But these deposits did not have insurance, access to the Federal Reserve ’s Fed-to-bank lending system, nor the safeguards that come with being a chartered bank,” Chopra said.

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Law Lending Investing Insurance 326

Housing Wire

SEPTEMBER 2, 2022

With rising rates and inflation, non-QM lending has spent the last few months in choppy waters , with some lenders closing their doors. However, the outlook for non-QM for the rest of 2022 is relatively optimistic, according to Acra Lending CEO Keith Lind. “We How could inflation affect lenders who have non-QM loans on their books? “It

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Lending Business Brokerage Investors 339

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. billion in originations to the GSEs, and its servicing book as of Oct. billion valuation. In all, this year the firm has originated $19.2 billion in securitized mortgages as of Oct. It sold $1.69

Finance 468

Finance Lending Retail Investing 468

Mortgagebroker News

MAY 28, 2021

Award-winning private lending brokers discuss the emerging trends and challenges to be faced in the year ahead, how to diversify, and tips for building your book of business

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Lending Business 49

Housing Wire

JULY 26, 2023

It’s a difficult lending market right now — one in which lenders and servicers can’t afford to lose customers. CoreLogic knows when current clients are demonstra­ting purchase intent (such as visiting open houses or homes listed for sale) or home equity lending needs (visiting contractors, visiting colleges, etc.).

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Marketing Clients Open Houses Lending 215

Housing Wire

AUGUST 30, 2023

In a letter to a group of founders and shareholders, New York-based asset management firm Sculptor Capital Management said their request to inspect the company’s books and records pertaining to its acquisition by Rithm Capital was “improper” and motivated by founder Daniel Och’s “long-standing resentment” of being exited from the company.

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Legal Inspection Real Estate Finance 322

Housing Wire

FEBRUARY 7, 2023

Clients will also benefit from access to new digital and customer relationship tools that improve every step in the lending experience, including servicing, a Guild strength for decades,” Thompson said in prepared remarks. By joining Guild, Legacy loan officers can offer additional mortgage products and specialized loan programs.

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Retail Mortgage Loan Officers Technology 381

Housing Wire

OCTOBER 14, 2020

Though its earnings were disappointing overall, residential lending at Wells Fargo rebounded in the third quarter, both in terms of income and origination volume. billion in income from its residential lending operation, up from $317 million in the prior quarter. In all, Wells Fargo collected $1.6 30, down slightly from $239.5

Business 442

Business Mortgage Lending Valuation 442

Housing Wire

MARCH 15, 2021

Digital lending software provider Blend announced on Monday that it is expanding its cloud-based platform with the acquisition of Title365 from the Mr. Cooper Group for approximately $422 million, reflecting an enterprise value of $500 million. How hybrid title and valuations help increase lending efficiency. Presented by: Altisource.

Insurance 357

Insurance Lending Real Estate Agent Valuation 357

Housing Wire

MAY 26, 2021

As part of its purchase of Texas Capital Bank’s servicing book, Ocwen also acquired the lender’s correspondent business. Texas Capital’s correspondent lending business originated approximately $2.4 billion of volume in the fourth quarter, slightly less than Ocwen’s correspondent lending arm during the same period.

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Lending Mortgage Insurance Government 384

Housing Wire

AUGUST 11, 2022

Keith Lind, CEO of non-QM lender Acra Lending, put it this way: “These aren’t bad loans, just bad prices.”. “We AOMR has bulked up its warehouse lending arsenal to help bolster liquidity to better cope with the volatility of the current market. It is externally managed and advised by an affiliate of Angel Oak Capital Advisors.

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Mortgage Finance Lending Real Estate 371

Housing Wire

AUGUST 30, 2022

While the lending industry has traditionally seen a measured and conservative approach to technological evolution, we are finding that many “strategic” decisions are made during these relative lulls in production. We have also seen large multi-channel lenders reducing their risk footprint in wholesale and correspondent lending.

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Tools Lending Technology Valuation 380

Housing Wire

NOVEMBER 8, 2021

The correspondent channel grew 179%, mainly because the Texas Capital Bank lending business is integrated. In April, Ocwen announced it acquired the entire $14 billion book of mortgage servicing rights of Texas Capital Bank through its subsidiary PHH Mortgage. In the direct consumer channel, volumes were up 61% year-over-year.

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Lending Sellers Business Clients 271

Housing Wire

JUNE 23, 2021

This, in turn, creates stable, deep liquidity, which reduces mortgage rates, particularly for long-term fixed rate lending. This has us on a path to a system in which lending will be more expensive and less widely available, leading to a housing finance system that is less stable and provides less access to credit.

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Government Finance Lending Mortgage 522

Housing Wire

JANUARY 31, 2024

The new initiative, dubbed Refi 100, “aims to help independent mortgage brokers who work with UWM create their own refinance boom and grow their book of business,” the company said in a news release. In December, the lender offered a discounted rate on some government loans that is valid until Jan. Brokers, however, must follow some rules.

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Government Mortgage Clients Business 403

Housing Wire

JANUARY 13, 2023

“The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. billion in outstanding residential mortgages on its books through Dec. billion in a civil penalty related to automobile lending, consumer deposit accounts and mortgage lending.

Mortgage 391

Mortgage Lending Retail Business 391

Housing Wire

DECEMBER 27, 2023

Meanwhile, Planet Home Lending, the only lender among the top-14 to increase origination volumes from January to September, compared to the same period last year, said it wants to also grow its servicing business. ” Planet Home Lending: Focusing on MSRs Some M&A transactions are not motivated purely by the origination platform.

Mortgage 359

Mortgage Retail Lending Sellers 359

Housing Wire

OCTOBER 18, 2023

Bank of America had $229 billion in outstanding residential mortgages on its books through Sept. On July 27, the Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released the proposed changes for the Basel III rule (called the Basel endgame). BofA also originated $2.42

Mortgage 309

Mortgage Insurance Lending Business 309

Housing Wire

APRIL 23, 2021

Texas Capital Bank is selling its entire $14 billion book of mortgage servicing rights to PHH Mortgage , a subsidiary of Ocwen Financial Corp , for a “modest profit.” Texas Capital’s correspondent lending business originated approximately $2.4 The transaction is expected to close in the second quarter of this year.

Business 179

Business Lending Insurance Sellers 179

Housing Wire

JULY 18, 2023

And nonbanks, including mortgage lending, which you referenced, half of it goes through nonbanks and those, the resilience of those institutions, is interesting to watch through cycles.” billion in outstanding residential mortgages on its books through June 30, down from $229.2 BofA also originated $2.54 Bank of America had $228.7

Mortgage 284

Mortgage Lending Business Retail 284

Housing Wire

JANUARY 28, 2021

According to the company’s S-1, its servicing book rose to $74 billion from $48 billion in 2019, with 307,000 mortgages being serviced. Earlier this month, Home Point Capital announced that it had brought on Fannie Mae ‘s former head of single family lending, Andrew Bon Salle , as chairman of its board. a share.

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Retail Lending Valuation Mortgage 531

BiggerPockets

JULY 15, 2022

Blogs, podcasts, books, and other media share tactics to successfully find this capital and have […]. Undoubtedly, active real estate investors have heard about raising private money for real estate projects.

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Lending Investing Real Estate Investors 63

Housing Wire

MAY 19, 2021

MSRs are booked as a balance sheet asset when loans are sold into the secondary market and show as book earnings at that time. The tax deferral in the current code recognizes this difference between book and tax income, taxing servicing income over time as the cash arrives.

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Housing Market Marketing Real Estate Government 480