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. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

Lending 488

Lending Mortgage Loan Officers Government 488

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

Retail 443

Retail Lending Renovations Construction 443

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9

Business 435

Business Mortgage Lending Insurance 435

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Lending 390

Lending Advertising Mortgage Law 390

Housing Wire

DECEMBER 9, 2022

Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank , the company confirmed on Friday. . This is a business that U.S. Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S.

Lending 389

Lending Business Retail Finance 389

Housing Wire

JULY 6, 2022

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. The short (and long) answer is no, not a chance.

Lending 496

Lending Mortgage Business Inventory 496

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

Business 422

Business Mortgage Lending Investors 422

Housing Wire

NOVEMBER 14, 2022

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We trillion, according to the Mortgage Bankers Association.

Lending 369

Lending Realtors Real Estate Agent Mortgage 369

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

Lending 432

Lending Renovations Legal Real Estate 432

Appraisal Buzz

MAY 8, 2024

Paul Walker has been appointed chief financial officer at Planet Home Lending , a national mortgage lender, servicer, and asset manager. Before joining Planet Financial Group, Walker was chief financial officer at Mortgage Assets Management, LLC, and Supreme Lending, leading key fiscal and strategic planning initiatives.

Lending 195

Lending Finance Clients Mortgage 195

Housing Wire

JANUARY 8, 2021

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. But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market.

Lending 465

Lending Mortgage Inventory Business 465

Housing Wire

JUNE 20, 2023

North Carolina-based Truist Financial Corporation announced on Tuesday that seasoned mortgage executive David Smith will be the head of Truist Mortgage effective July 31. In addition, Smith will lead the nationwide direct channels and correspondent business, reporting to chief retail and small business banking officer Dontá Wilson.

Business 370

Business Mortgage Retail Lending 370

Housing Wire

JULY 15, 2022

Wells Fargo ‘s second-quarter earnings reflect the broader challenges mortgage lenders face in such a turbulent market – in just six months, a rapid rise in mortgage rates has eroded consumer demand, shocked capital markets and forced mass industry layoffs. The lone bright spot was higher mortgage servicing income.

Business 446

Business Mortgage Lending Retail 446

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Business 434

Business Investors Finance Home Improvement 434

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. from $490 billion in the second quarter.

Lending 479

Lending Inventory Mortgage Finance 479

Housing Wire

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”.

Lending 435

Lending Mortgage Marketing Technology 435

Housing Wire

JULY 18, 2023

Under the latest rumored changes to Basel III regulations , large depository institutions would see residential mortgage capital requirements that far exceed international standards, according to a report by Bloomberg. Residential mortgage-backed securities guaranteed by the government-sponsored enterprises wouldn’t be affected by the change.

Lending 370

Lending Mortgage Insurance Government 370

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. It is also turning Acra’s business into a technology-first one, the statement said.

Lending 420

Lending Technology Design Investors 420

Housing Wire

FEBRUARY 21, 2023

Following the closing of the [deal], FAM will no longer operate in the business of originating business purpose loans to residential real estate investors. FOA announced its intention to exit the forward mortgage originations business in late 2022 by winding down the operations of Finance of America Mortgage.

Business 367

Business Lending Finance Real Estate 367

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

Business 406

Business Mortgage Finance Design 406

Housing Wire

JANUARY 22, 2021

Another one would be home lending. If you think about getting a mortgage, which is one of the most important financial transactions for people in their lives, but you know the amount of forms and paper and other things that’s involved with that. And pre-COVID, that was 30% – that’s 10 percentage points movement during the COVID period.

Lending 465

Lending Business Tools Technology 465

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.

Lending 443

Lending Valuation Technology Retail 443

Housing Wire

SEPTEMBER 27, 2023

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed.

Lending 454

Lending Technology Loan Officers Clients 454

Housing Wire

MAY 25, 2023

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. said in a statement.

Business 390

Business Mortgage Loan Officers Inventory 390

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year.

Business 390

Business Mortgage Loan Officers Lending 390

Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. The home-only lending market presents several major opportunities.

Business 464

Business Finance Buyers Lending 464

Housing Wire

AUGUST 15, 2022

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. billion in volume , according to Inside Mortgage Finance.

Lending 370

Lending Business Finance Retail 370

Housing Wire

JANUARY 23, 2024

Blue Sage: Digital Lending Platform Our Digital Lending Platform is a multi-channel, end-to-end digital mortgage solution that provides a superior experience for lenders and customers. API-centric and based on consumer data models, our platform focuses on innovation, automation, and business transformation.

Lending 324

Lending Architecture Loan Officers Tools 324

Housing Wire

NOVEMBER 30, 2022

A recent lawsuit filed by Banc of California is claiming that mortgage lenders and servicers Sprout Mortgage (now defunct) and Planet Home Lending owe $1.5 Mortgage industry veteran Michael Strauss, Sprout’s founder, is also listed as a defendant. million related to the proceeds of two notes it owned and funded.

Lending 407

Lending Mortgage Design Business 407

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Is now a good time to invest in real estate automation technologies?

Brokerage 407

Brokerage Real Estate Lending Mortgage 407

Housing Wire

FEBRUARY 13, 2024

Gregory Meola, managing director, head of business development & strategy, Acra Lending Rather than formulaic QM lending, non-QM lending can be more complex. HousingWire: What are the unique complexities of non-QM lending as compared to QM loans?

Lending 391

Lending Technology Development Business 391

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. A 40%-plus net share of all U.S. branches and agencies of foreign banks.

Lending 370

Lending Mortgage Loan Officers Government 370

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , We did transfer our branches and loan officers to ML Mortgage. A spokesperson for ML Mortgage didn’t immediately reply to a request for comment.

Retail 434

Retail Loan Officers Mortgage Lending 434

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. ” Grella, who handled more of the operations side of the business , did not respond to a request for comment. NEXA did $6.29

Mortgage 456

Mortgage Brokerage Loan Officers Business 456

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 459

Lending Tools Inventory Renovations 459

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officers 435

Loan Officers Mortgage Retail Lending 435

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, which completed the acquisition of Black Knight ’s Empower and Optimal Blue in September, is prioritizing bringing down origination costs for lenders.

Technology 422

Technology Lending Development Mortgage 422