Housing Wire

DECEMBER 21, 2023

That’s the first predatory mortgage lending case brought by the DOJ. Discrimination in lending harms families and neighborhoods for generations; it is wrong, and it has no place in our country,” Attorney General Merrick Garland said in a statement. between 2017 and 2021, per the lawsuit.

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Housing Wire

JANUARY 23, 2023

Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. Tavant, an HW Tech100 winner for multiple years, helped underwrite more than 80,000 loans in 2021.

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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. MF: Angel Oak expects the non-QM market in 2021 to quickly grow as our economy recovers.

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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.

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Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. In terms of dollar volume, there was an estimated $251 billion in HELOC originations during all of 2022, up from $182 billion in 2021. last year.

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Technology Lending Housing Market Investors 370

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. compared to the same period in 2021. . Expected to close around Oct.

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Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc. Throughout 2021 I grew our operations team to achieve 10,500 units funded, which was a 300% increase in originations year over year.

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Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc. Throughout 2021 I grew our operations team to achieve 10,500 units funded, which was a 300% increase in originations year over year.

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Housing Wire

DECEMBER 11, 2020

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. 31, 2021. “We 31, 2021 from Dec. 31, 2021 from Dec. To that end, the GSEs began accepting alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

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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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Housing Wire

OCTOBER 12, 2022

In the fourth quarter of 2021, the company had $4.72 The company cut about 75% of its workforce from the summer of 2021 to about 1,000 in the fall of 2022. Over the past year, Homepoint sold off large chunks of its business including selling its delegated correspondent business to Planet Home Lending. trillion this year and $1.3

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Appraisal Buzz

DECEMBER 2, 2021

ATTOM has released its third-quarter 2021 U.S. million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. That figure was up 3% from the third quarter of 2020, but down 8% from the second quarter of 2021 – the largest quarterly dip in over a year.

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Housing Wire

AUGUST 30, 2022

The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. billion in 2021, closing 9,991 loans. The post Mountain West Financial steps back from wholesale lending appeared first on HousingWire.

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Lending Retail Mortgage Clients 417

Housing Wire

JULY 11, 2022

As Wells Fargo contemplates a smaller footprint in mortgage, the nation’s fourth-largest bank named Kleber Santos as chief executive officer of consumer lending. Weinbach joined Wells Fargo in April 2020 to lead consumer lending. . The post Wells Fargo taps Kleber Santos to lead consumer lending appeared first on HousingWire.

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Lending Retail Business Mortgage 370

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. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

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Lending Finance Loan Officers Legal 383

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. In the fourth quarter of 2021, Flagstar originated about closed $10.7 The deal was supposed to close by the end of 2021, however, it has not yet received regulatory approval.

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Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

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Housing Wire

JANUARY 14, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. 31, 2021, however, the government entity is now pushing that back to at least Feb. 14, the CDC has reported over 1.7

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Lending Appraisal Inspection Property Appraisal 539

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.

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Housing Wire

FEBRUARY 22, 2022

Though regulators have the power to ding lenders for violating fair lending law, none of the agencies can give a special purpose credit program their blessing. In December 2021, HUD resolved long standing questions about whether special purpose programs would violate the fair housing act.

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Housing Wire

NOVEMBER 15, 2022

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. A decline in the index, benchmarked to 100 in March 2012, is an indicator that lending standards are tightening, while an increase suggests loosening credit standards.

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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 395

Housing Wire

MARCH 25, 2022

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. Rocket pumped out $340 billion in loans in 2021, 8.55% more than it did in 2020. Wells Fargo moved up one notch, originating $141 billion, a 11% increase from 2021.

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Mortgage Lending Home Improvement Investing 427

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 According to the lawsuit, the executive executed in November 2021 a personal guaranty in Banc of California’s favor for Sprout’s liabilities. million as of November 30.

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Lending Mortgage Design Business 395

Housing Wire

JANUARY 10, 2024

In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina. million in tenant improvements in North Carolina since 2021, the letter added.

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Investing Development Tenants Loan Officers 411

Housing Wire

JANUARY 24, 2022

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. The post Stearns Lending to lay off 348 workers appeared first on HousingWire. HousingWire sent a message seeking comment to Guaranteed Rate, which was not returned.

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Lending Retail Loan Officers Business 370

Housing Wire

JUNE 24, 2021

In 2021, all housing professionals must be focused on the 3 P’s: Process, Profitability and Purchase. And to help you power your business forward in 2021 and beyond we brought together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set the leaders apart. ALL EYES ON PURCHASE.

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Loan Officers Lending Finance Business 381

Housing Wire

MARCH 28, 2023

A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. Wells Fargo has been under fire numerous times in the past over discriminatory lending allegations. The lawsuit was filed under the Fair Housing Act by three counties in Georgia.

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Lending Mortgage Legal 383

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 437

Housing Wire

SEPTEMBER 15, 2020

Fannie Mae , the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 in 2021, the forecast said, matching Fannie Mae’s prior monthly projection. The post Mortgage lending volume in 2020 likely to break records appeared first on HousingWire.

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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. What 2021 holds for Rocket Pro TPO.

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Lending Mortgage Marketing Housing Market 370

Housing Wire

AUGUST 8, 2022

Mortgage rates trended down in July from their peak above 6% in June, but that wasn’t enough to spur mortgage lending activity. from 2021 and off 11% from 2019, marking the first month the number of purchase locks fell below pre-pandemic levels. from the previous month and dropped 22% from July 2021. since last year.

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Lending Mortgage Housing Market Home Value 383

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 ). And it is growing fast, he added. “We’re

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Lending Technology Government Investors 383

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. Mike Cagney, SoFi. billion across these deals.

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Lending Technology Finance Insurance 366

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

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Lending Real Estate Agent Investors Finance 383

Housing Wire

JULY 1, 2021

They were there, in the middle of everything, to make sure that brand loyalty would last well beyond 2021. This foundational first class of 2021 Marketing Leaders includes the most creative and influential marketing minds of the housing industry. Planet Home Lending. Supreme Lending. Jim Anderson. Chief Marketing Officer.

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Marketing Advertising Real Estate Technology 395

Housing Wire

JANUARY 12, 2021

to Acra Lending, the company has also launched a new jumbo prime program. HousingWire recently spoke with Keith Lind, Acra executive chairman and president, and Acra CEO Kyle Gunderlock, about the new program and how it will help borrowers in 2021 and beyond. Keith Lind, Acra Lending executive chairman and president.

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