Housing Wire

FEBRUARY 22, 2023

Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I Wells Fargo’s correspondent lending business was already in a freefall. The bank’s mortgage servicing rights declined by 5% to $9.3

Lending 522

Lending Business Finance Mortgage 522

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. billion valuation in a venture-backed funding round in 2021. JP Morgan Chase & Co. for the IPO.

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Lending Valuation Technology Retail 431

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. “He’s a results-oriented team-builder with a demonstrated ability to grow people and organizations,” said Lee Smith, president of Mortgage for Flagstar.

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Retail Lending Mortgage Real Estate 384

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. Freedom Mortgage Bank of America Homepoint Guaranteed Rate. The two top lenders, Rocket Mortgage and United Wholesale Mortgage , each maintained their positions.

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Mortgage Lending Home Improvement Investing 432

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.

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Lending Mortgage Design Business 397

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. In the second quarter of 2023, Blend reported a non-GAAP net loss of $22.7

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Lending Technology Design Mortgage 409

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 trillion in refinancings, the highest level since 2003 and more than double the level seen in 2019, the mortgage giant said in a forecast on Tuesday. million, down 0.4%, Fannie Mae said.

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Lending Mortgage Realtors Housing Market 545

Appraisal Buzz

DECEMBER 2, 2021

ATTOM has released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. The quarterly decline also was the second.

Lending 195

Lending Mortgage Appraisal 195

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

Lending 385

Lending Clients Investing Investors 385

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.

Technology 370

Technology Lending Housing Market Investors 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.

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Lending Mortgage Housing Market Home Value 384

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. Pachiano shared an update on her career, industry insights on digitization and advice for anyone entering the mortgage industry. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc.

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Lending Retail Technology Mortgage 370

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. Pachiano shared an update on her career, industry insights on digitization and advice for anyone entering the mortgage industry. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc.

Lending 370

Lending Retail Technology Mortgage 370

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

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. . It funded $5.1

Lending 370

Lending Retail Legal Loan Officers 370

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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Lending Development Investing Business 432

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?

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Brokerage Real Estate Lending Mortgage 397

Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. In the fourth quarter of 2021, the company had $4.72 It originated a mortgage volume of $21.7 Home Point Financial Corp.

Lending 397

Lending Contracts Finance Mortgage 397

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. The post Fannie Mae extends relaxed appraisal, lending standards appeared first on HousingWire. Presented by: CoreLogic.

Lending 540

Lending Appraisal Inspection Property Appraisal 540

Housing Wire

AUGUST 30, 2022

Add mortgage lender Mountain West Financial to the list of victims of the price war in the wholesale channel. 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.

Lending 421

Lending Retail Mortgage Clients 421

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. . Wells Fargo’s mortgage revenues totaled $1.5

Lending 370

Lending Retail Business Mortgage 370

Housing Wire

JANUARY 10, 2024

Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million over the course of 12 years.

Investing 414

Investing Development Tenants Loan Officers 414

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. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. What will servicing look like in 2022?

Lending 384

Lending Finance Loan Officers Legal 384

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. The mortgage credit availability index (MCAI) fell by 0.5% compared to October 2021. . last month, marking eight consecutive months of decline.

Lending 485

Lending Government Mortgage Housing Market 485

Housing Wire

NOVEMBER 5, 2021

Knowing where borrowers are at in their home-buying journey is key to any successful mortgage lending strategy, but it’s often overlooked in the busy operations of an origination shop. To go back to the full HousingWire Annual 2021 on-demand page, go here. Watch the full session below. Become a member today. Already a member?

Lending 284

Lending Mortgage Business Real Estate 284

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.

Lending 397

Lending Retail Loan Officers Mortgage 397

Housing Wire

DECEMBER 11, 2023

Wells Fargo , once the largest mortgage lender in America, was accused of discrimination through the common industry practice of offering mortgage loan discounts to select borrowers, CNBC reported. fair lending laws has been on regulators’ radar in recent years. Its findings showed that mortgage lenders violated U.S.

Mortgage 441

Mortgage Lending Law Loan Officers 441

Housing Wire

FEBRUARY 20, 2024

Fairway Independent Mortgage Corporation announced on Tuesday a series of reverse mortgage maneuvers designed to increase the company’s investment in the space. The division’s leadership team will now also include Dan Ventura, who has served at Fairway since 2007 and last year was appointed as VP of reverse mortgage operations.

Investing 431

Investing Mortgage Lending Business 431

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.

Lending 384

Lending Development Finance Law 384

Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Emerging out of the pandemic, the first half of 2021 showed that there is a historically low housing inventory across multiple markets in the U.S. Inventory issues. Push for tech.

Mortgage 512

Mortgage Inventory Real Estate Technology 512

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. It funded $4.2

Lending 441

Lending Loan Officers Mortgage Government 441

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

Lending 540

Lending Appraisal Inspection Property Appraisal 540

Housing Wire

JUNE 24, 2021

In 2021, all housing professionals must be focused on the 3 P’s: Process, Profitability and Purchase. PPP may have meant something different in 2020, but this year the 3 P’s are the guiding light to long-term mortgage success and domination. The Pulse of Consumer Shopping Behavior: Mortgage Purchase, Refi & More.

Loan Officers 382

Loan Officers Lending Finance Business 382

Appraisal Buzz

DECEMBER 3, 2021

Mortgage lending has dropped in the second and third quarters of 2021, with finance mortgages dropping 13% and purchase loans off 2% for the first time this century. According to ATTOM’s Q3 2021 U.S. Residential Property Mortgage Origination Report, 3.59

Mortgage 195

Mortgage Lending Finance Development 195

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.

Lending 485

Lending Appraisal Inspection Property Appraisal 485

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.

Lending 384

Lending Mortgage Legal 384

Housing Wire

FEBRUARY 21, 2024

Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.

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Housing Market Mortgage Marketing Real Estate 434