Housing Wire

OCTOBER 30, 2023

Cenlar FSB , the second-largest mortgage servicer and largest subservicer in the United States, promoted David Schneider to president of the company on Monday. Mezzasalma joined Cenlar in 2015 as vice president and chief accounting officer. He then was promoted to senior vice president in February 2020.

Project Management 433

Project Management Lending Finance Clients 433

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending.

Mortgage 370

Mortgage Loan Officers Lending Retail 370

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

Loan Officers 449

Loan Officers Lending Advertising Home Improvement 449

Housing Wire

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. The most recent cases were those against Service 1st Mortgage, Inc. ,

Advertising 477

Advertising Mortgage Lending 477

Housing Wire

OCTOBER 23, 2023

Click n’ Close , a mortgage lender mostly active in the wholesale and correspondent channels, appointed Kara Lamphere to the role of chief operating officer (COO). Prior to joining Click n’ Close, Lamphere was COO at InterLinc Mortgage. Formerly known as Mid America Mortgage, the company changed its name to Click n’ Close in June 2022.

Lending 402

Lending Technology Mortgage Business 402

Housing Wire

JULY 29, 2021

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015.

Sellers 414

Sellers Mortgage Business Lending 414

Housing Wire

JULY 27, 2022

The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 The complaint alleged Trident Mortgage Co. ,

Loan Officers 393

Loan Officers Mortgage Law Contracts 393

Housing Wire

SEPTEMBER 23, 2020

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. UWM’s move into the public markets follows that of rival Rocket Companies , the country’s largest mortgage lender by volume.

Mortgage 542

Mortgage Lending Business Inventory 542

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. million mortgage fraud settlement with the Securities and Exchange Commission to his name, seems to be back in the mortgage business. Shocked employees didn’t receive their last paychecks.

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. RealKey was founded in 2015 by Christopher Hussain, who claims to have been the top mortgage originator in the U.S. in 2010 and 2011.

Mortgage 372

Mortgage Lending Technology Investors 372

Housing Wire

JULY 18, 2023

Denver, Colorado-based Maxwell , a mortgage fintech solutions platform, has announced that product development veteran Paul Wetzel has joined the company as senior vice president of product. mortgage industry, including significant net losses on loans and a decline in purchase loans.

Technology 370

Technology Mortgage Lending Real Estate 370

Housing Wire

AUGUST 27, 2020

The downside is: Higher inflation would put upward pressure on mortgage rates. “I I know no one wants to pay higher mortgage rates , but if their wages are rising faster as a result of today’s change in Fed policy, it ends up being a wash,” Baker said in an interview. In the past 12 months, the U.S. without sparking inflation.

Mortgage 488

Mortgage Investors Lending 488

Housing Wire

MARCH 8, 2023

District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2015 to 2021. The complaint, filed in federal court in the U.S.

Advertising 381

Advertising Lending Modernization Investing 381

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. Now is the time to shape your mortgage process to better support Spanish-speaking borrowers. On September 23, 2020, the U.S.

Mortgage 370

Mortgage Lending Investors Housing Market 370

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 billion in 2022, up from the previous year’s $2.2

Mortgage 393

Mortgage Investors Development Investing 393

Housing Wire

MAY 12, 2021

Five years after introducing the Rocket Mortgage brand for digital lending, Rocket Companies will finally retire the legacy Quicken name on July 31. “Rocket Mortgage has grown to be the industry leader and the measuring stick for all other lenders. It became the country’s largest mortgage lender in 2017.

Lending 382

Lending Mortgage Real Estate Technology 382

Housing Wire

DECEMBER 20, 2022

Wells Fargo , the largest depository mortgage lender in America, has agreed to pay a civil penalty of $1.7 billion to settle multiple consent orders related to automobile lending, consumer deposit accounts and mortgage lending with the Consumer Financial Protection Bureau (CFPB). . Refinancings fell to 16% of the mix.

Retail 370

Retail Lending Law Mortgage 370

Housing Wire

MAY 18, 2023

Chicago-based technology company Gateless announced this week that Guaranteed Rate , a Chicago-based leading mortgage lender, has implemented its Smart Underwrite solution, a groundbreaking technology that aims to transform the borrower experience.

Real Estate Agent 382

Real Estate Agent Technology Real Estate Realtors 382

Housing Wire

NOVEMBER 11, 2020

After a dramatic false start in 2015, California-based lender loanDepot says it’s finally going public. LoanDepot , backed by private equity shop Parthenon Capital Partners, first announced plans to go public in September 2015 , but canceled the IPO hours before pricing due to what the company called adverse “market conditions.”

Retail 424

Retail Technology Market Value Valuation 424

Housing Wire

MAY 17, 2022

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.

Logistics 370

Logistics Legal Investors Technology 370

Housing Wire

OCTOBER 20, 2020

From the beginning, co-founder and CEO John Paasonen has been clear about digital mortgage platform Maxwell’s mission: to make mortgages simpler and more accessible. Maxwell has grown steadily since 2015, today serving as a technology partner to over 200 community lenders across the country.

Mortgage 414

Mortgage Real Estate Agent Technology Real Estate 414

Housing Wire

SEPTEMBER 17, 2020

LoanDepot is poised to go public later this year, becoming “Lyft to Rocket Mortgage’s Uber,” according to a new report. The California-based mortgage lender headed by Anthony Hsieh could be worth between $12 billion and $14 billion in an IPO, according to Bloomberg ‘s sources. billion to $2.6

Market Value 532

Market Value Lending Mortgage Marketing 532

Housing Wire

MARCH 16, 2022

California-based ICE Mortgage Technology announced this week two enterprise agreements to integrate its eClose solution to Maxwell and Roostify platforms, enabling a more streamlined closing process for lenders and borrowers. Encompass eClose will be part of the mortgage fintech Maxwell’s point-of-sale platform.

Technology 382

Technology Real Estate Agent Loan Officers Lending 382

Housing Wire

FEBRUARY 23, 2024

The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its reverse mortgage-backed securities program. Ginnie Mae accordingly implored TCB to lend money to RMF. But TCB was hesitant to lend money to a bankrupt company. The Government’s motion should accordingly be denied.”

Government 412

Government Contracts Finance Lending 412

Housing Wire

APRIL 1, 2024

In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.

Loan Officers 414

Loan Officers Clients Mortgage Construction 414

Housing Wire

NOVEMBER 19, 2021

The Consumer Financial Protection Bureau (CFPB) is launching a voluntary review of its mortgage data collection — a key tool in bringing redlining cases — to assess its effectiveness in detecting discrimination. The agency also uses HMDA data to identify and call attention to systemic issues in mortgage lending.

Lending 381

Lending Modernization Tools Mortgage 381

Housing Wire

SEPTEMBER 11, 2020

Mortgage platform SimpleNexus has tapped Cathleen Schreiner Gates to become its next company president. Between 2015 and 2019, she served as executive vice president of sales and marketing at cloud-based mortgage technology provider Ellie Mae. Ellie Mae was just acquired by Intercontinental Exchange in an $11 billion deal.).

Lending 354

Lending Valuation Technology Clients 354

Housing Wire

FEBRUARY 8, 2021

The multi-channel mortgage lender hopes to raise $300 million by pricing its shares between $19 and $21. The momentum for non-bank lending is here to stay. Strategies lenders should adopt from direct to consumer lending. billion valuation later this week. If all goes according to plan, loanDepot would command a valuation of $6.2

Valuation 450

Valuation Retail Lending Real Estate Agent 450

Housing Wire

MARCH 22, 2022

Digital mortgage platform Maxwell has brought on Amy Brandt to its board of directors to gain perspective on the challenges that lenders face and the gaps in the mortgage digitalization process. Brandt said that the mortgage business is structurally fragmented, with different parts of the process and various providers. .

Technology 370

Technology Lending Mortgage Government 370

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30.

Finance 370

Finance Lending Mortgage Investing 370

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

SEPTEMBER 4, 2020

The Consumer Financial Protection Bureau issued a consent order against mortgage broker and lender Accelerate Mortgage on Wednesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. and Prime Choice Funding, Inc. ,

Advertising 449

Advertising Lending Mortgage Government 449

Housing Wire

AUGUST 17, 2022

A requirement that large depositories submit annual capital and liquidity plans complete with mortgage servicing rights stress tests will not be mandatory until December 2024. A look at key mortgage claims challenges servicers are facing. The initial proposed changes met heavy criticism from industry stakeholders.

Sellers 382

Sellers Government Lending Finance 382

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. Cooper’s original name prior to rebranding) in 2015. Streamline by combining services.

Insurance 393

Insurance Lending Real Estate Agent Valuation 393

Housing Wire

FEBRUARY 26, 2021

Patterson will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Fred Bolstad , executive vice president of retail lending at U.S. Bank Home Mortgage. Patterson has led Homepoint’s third-party originations business since 2015.

Design 295

Design Retail Technology Lending 295

Housing Wire

APRIL 30, 2021

Top retail mortgage lender loanDepot has formed yet another strategic joint-venture with a fast-growing homebuilder. California-based loanDepot has formed a JV partnership with LGI Homes , called LGI Mortgage Solutions , the companies announced on Thursday. Increasing Lending and Servicing Capacity – Regardless of Rates.

Retail 382

Retail Mortgage Lending Marketing 382

Housing Wire

DECEMBER 7, 2020

With record origination volume stretching capacity and a fresh infusion of capital from the public markets en route, a slew of big nonbank lenders are shifting strategies and declining to sell their mortgage servicing rights, which they’d previously relied on to fund their operations. In fact, roughly $70.8 Join today with an HW+ Membership

Lending 296

Lending Investors Finance Mortgage 296