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 408

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 Sprout sold the notes to Banc of California in 2020, maintained the servicing responsibilities, but entered into an agreement to have Planet as the subservicer.

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Lending Mortgage Design Business 397

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.

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Housing Market Mortgage Buyers Government 537

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. The Chicago-based lender had two loan originators eclipse $1 billion in originations in 2020. This is a breaking news story.

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Lending Retail Real Estate Agent Brokerage 538

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. Presented by: Sutherland.

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Lending Loan Officers Mortgage Government 441

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. We are thrilled to introduce Kind Lending to the world.

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Lending Mortgage Marketing Housing Market 370

Housing Wire

AUGUST 20, 2021

The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% But some of the industry’s same problems remained in 2020. million in 2020. million in 2020. in 2020, while the share for Hispanic borrowers was 9.1% in 2020 compared to 8.9% in 2020, from 1.04

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Insurance Mortgage Marketing Lending 432

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 307

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.

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Mortgage Lending Investors Housing Market 370

Housing Wire

FEBRUARY 2, 2023

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. Prior to his role at Apex Home Loans, Anzoleaga has held roles as a certified local facilitator at Buffini & Company, a senior vice president of residential lending at Draper and Kramer Mortgage Corp.

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Lending Real Estate Agent Agents Business 384

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. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure.

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Mortgage Lending Technology Modernization 409

Housing Wire

SEPTEMBER 27, 2022

It rebranded in summer of 2020. Presented by: Acra Lending. The post The Real Brokerage to acquire LemonBrew Lending appeared first on HousingWire. “This industry is ripe for disruption, and together we can make a huge impact.”. Headquartered in New Jersey, LemonBrew was previously known as SD Capital Funding.

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Brokerage Lending Loan Officers Technology 370

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 369

Appraisal Buzz

AUGUST 11, 2021

Commercial and multifamily mortgage bankers are expected to close $578 billion of loans backed by income-producing properties in 2021 – a 31% increase from 2020’s volume of $442 billion, according to the Mortgage Bankers Association ’s (MBA) newest forecast.

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Lending Mortgage Appraisal 370

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.

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Lending Investing Business Retail 433

Housing Wire

MARCH 29, 2021

That has caused a remarkable shift to a digital lending model that has significantly impacted a lender’s ability to do business during these challenging times. Power 2020 U.S. It’s been a complicated year for the mortgage industry,” said Jim Houston, managing director of consumer lending and automotive finance intelligence at J.D.

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Lending Tools Finance Mortgage 421

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. The post OCC moves to rescind 2020 version of CRA rule appeared first on HousingWire.

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Modernization Insurance Lending Development 410

Appraisal Buzz

MAY 17, 2021

The post Rate/Term Refinance Mortgage Lending the Lowest Since January 2020 appeared first on Appraisal Buzz. “April saw the.

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Lending Mortgage Technology Appraisal 221

Housing Wire

NOVEMBER 24, 2020

This year’s 2020 list of Housingwire Tech Trendsetters certainly earned their status as the housing industry was met with incredible challenges and new opportunities. One of the 2020 Tech Trendsetters, Kallol Das worked quickly to shift digital lending tech provider Blend’s product roadmap to its rapidly-changing client needs.

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Modernization Housing Market Lending Clients 334

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. The way we as mortgage lending originators conduct our business has quickly taken on a new form during these times of uncertainty.

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Lending Mortgage Inventory Business 450

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

DECEMBER 1, 2020

Land Gorilla founder and CEO Sean Faries is relentless in his pursuit of technology innovations that drive efficiency while simultaneously reducing risk in construction and renovation lending. The post 2020 HW Tech Trendsetter: Sean Faries appeared first on HousingWire.

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Renovations Construction Inspection Technology 317

Simonson Real Estate

AUGUST 24, 2020

On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). On August 14, 2020, the Minnesota Real Estate Journal held the 13th Annual Capital Markets Summit at the Radisson Blue Mall of America Hotel.

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Lending Construction Tenants Real Estate 148

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. Kelly Stewart has been promoted to vice president senior lending officer for banking operations at Gateway First Bank. His past roles include serving as chief operating officer for NextAce Corp.

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Lending Clients Real Estate Development 384

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Lending Finance Development Law 410

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.

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Lending Retail Mortgage Loan Officers 397

Housing Wire

DECEMBER 1, 2020

Chandler is the architect behind FormFree’s flagship product, AccountChek, which disrupted an industry by introducing automated asset verification to the home lending space. The post 2020 HW Tech Trendsetter: Brent Chandler appeared first on HousingWire.

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Lending Clients Mortgage 331

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 441

Housing Wire

APRIL 13, 2021

Across the mortgage industry, revenues swelled to record highs in 2020. According to recent data from the Mortgage Bankers Association , IMBs and mortgage subsidiaries averaged around $4,202 profit on each loan in 2020, compared to $1,470 per loan in 2019. But 2020 is going to be a tough year to beat, largely due to the dip in refis.

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Valuation Mortgage Marketing Housing Market 370

Housing Wire

FEBRUARY 9, 2021

Non-QM lending is poised for growth in 2021. HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. in the second quarter of 2020 and the lowest it has been since the introduction of the index.

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Lending Investors Mortgage Marketing 370

Housing Wire

MAY 11, 2022

“By combining all-cash offers with the lower rates and fees associated with wholesale lending, independent originators give homebuyers and their real estate agents the best shot at closing deals and saving money,” Shoemaker added. Planet Home Lending entered into a $2.5 While the lender had $20.7

Lending 384

Lending Real Estate Agent Investors Finance 384

Housing Wire

OCTOBER 15, 2021

Home lending proptech Roostify is releasing the “first of many” APIs on its existing lending platform built to automate document validation and data extraction in the lending process. In 2020 alone, Roostify saw a 250% increase in the number of applications submitted through its system and processed just under 1.5M

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Lending Development Training Mortgage 394

Housing Wire

DECEMBER 14, 2021

“Automated underwriting for agency [ Fannie Mae and Freddie Mac ] products is definitely much easier because there’s a defined set of scenarios that you have to meet,” says Keith Lind, executive chairman and president of Acra Lending (a non-QM lender formerly known as Citadel Servicing ).

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Lending Technology Government Investors 384

Housing Wire

JANUARY 22, 2021

When the coronavirus pandemic hit in 2020, banks were among the many institutions moving quickly to adapt to all the changes that came with it. Another one would be home lending. The post Chase sees huge digital adoption in home lending business appeared first on HousingWire. The complete interview is available here.

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Lending Business Tools Technology 450

Housing Wire

MARCH 23, 2021

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% Now is the time for lenders to tighten their procedures not only on recruiting and hiring practices, but also lending operations.

Lending 450

Lending Mortgage Sellers Technology 450

Housing Wire

JANUARY 11, 2021

Even with total credit risk transfers (CRT) and non-QM lending trending down due to seasonality, some observers are predicting a strong beginning to 2021. Officials with dvo1, a lending markets analytics company , remain encouraged by low levels of new impairments, which reached pre-pandemic levels in both CRT and non-QM.

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Lending Clients Marketing Mortgage 329

Housing Wire

DECEMBER 7, 2020

HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. HW: How did your integrated model help you in 2020 – particularly after the pandemic and pause in the spring?

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Lending Clients Investing Investors 385