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 414

Lending Renovations Legal Real Estate 414

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.

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Lending Valuation Technology Retail 424

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 519

Lending Business Finance Mortgage 519

Housing Wire

AUGUST 1, 2023

billion in new mortgages for apartment buildings with five or more units in 2022, a reduction of around 1% when compared to 2021 levels. This is according to an annual report of the multifamily lending market compiled and released by the Mortgage Bankers Association (MBA). More than 2,200 different multifamily lenders provided $480.1

Lending 368

Lending Government Real Estate Mortgage 368

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. We look forward to telling the true story of Colony Ridge.”

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Lending Development Investing Business 424

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.

Lending 441

Lending Tools Inventory Renovations 441

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. billion in the first nine months of 2022, accounting for 41.7% Correspondent production posted $2.45

Lending 382

Lending Business Retail Client Relationships 382

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Correspondent lending is also a relatively bright spot for a mortgage industry that’s suffered from low origination volume. from Q4 2022.

Lending 370

Lending Realtors Retail Mortgage 370

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.

Technology 370

Technology Lending Housing Market Investors 370

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. Rising home prices have pushed tappable home equity near its 2022 peak, but high interest rates have made homeowners reluctant to extract that wealth.

Lending 471

Lending Mortgage Loan Officers Government 471

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. million in Q2 2022. million in Q1 and non-GAAP net loss of $45.1

Lending 404

Lending Technology Design Mortgage 404

Housing Wire

NOVEMBER 7, 2023

loanDepot has appointed David Smith to the newly-created position of vice president of national VA lending, the company announced on Monday. In this role, Smith, a former Army sergeant, will oversee the lender’s VA lending strategy. Smith joined loanDepot in 2022 as a branch production manager.

Lending 396

Lending Real Estate Agent Real Estate Training 396

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

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Lending Finance Legal Contracts 404

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 in 2022, down from the previous year’s $4.4

Lending 370

Lending Realtors Real Estate Agent Mortgage 370

Housing Wire

OCTOBER 12, 2022

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. billion in the first six months of 2022, with $9.1

Lending 393

Lending Contracts Finance Mortgage 393

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 as of the quarter ended June 30, 2022. appeared first on HousingWire.

Lending 370

Lending Business Finance Retail 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.

Lending 403

Lending Contracts Mortgage 403

Housing Wire

FEBRUARY 28, 2023

Virginia-based mortgage bank Prosperity Home Mortgage, LLC has acquired the assets of Arizona-based JFQ Lending, LLC to explore the direct-to-consumer channel. billion in June 2022 to $460 million in December 2022. However, amid a challenging mortgage market, monthly production fell from over $1.1

Lending 382

Lending Loan Officers Government Realtors 382

Housing Wire

NOVEMBER 16, 2023

Nonbank originator Change Lending and the U.S. A Barron’s investigation found that Change failed to meet its underserved lending requirements in 2022, resulting in the lender being removed from the CDFI Fund’s list of certified program lenders in August.

Lending 413

Lending Finance Contracts Development 413

Housing Wire

MAY 17, 2023

Recent home price declines are leading to decreased tappable equity, but there are still opportunities in home equity lending, according to a report published by Home Equity Lending News. There was no change in the HELOC 90-day delinquency rate from the third quarter to the fourth quarter of 2022, standing at around 0.24%.

Lending 382

Lending Valuation Mortgage Government 382

Appraisal Buzz

JANUARY 12, 2022

Commercial and multifamily mortgage originators anticipate 2022 will be another strong year of borrowing and lending, according to the Mortgage Bankers Association ‘s (MBA) 2022 Commercial Real Estate Finance (CREF) Outlook Survey.

Lending 195

Lending Real Estate Finance Appraisal 195

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 477

Lending Mortgage Business Inventory 477

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. Expected to close around Oct. billion in assets, the companies claim.

Lending 370

Lending Retail Legal Loan Officers 370

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.

Lending 370

Lending Retail Business Mortgage 370

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 393

Lending Retail Loan Officers Mortgage 393

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. The data shows that in the first half of 2022, the company reached $1.9 According to the Scotsman Guide, the lender originated $2.75

Lending 414

Lending Retail Mortgage Clients 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. What will servicing look like in 2022? That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 382

Lending Finance Loan Officers Legal 382

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. In April of 2022, the retail division of Mid America Mortgage, Inc. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation.

Lending 370

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. In April of 2022, the retail division of Mid America Mortgage, Inc. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation.

Lending 370

Lending Retail Technology Mortgage 370

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 In addition, the bank alleges that Sprout’s transactions with its warehouse lines have resulted in a deficiency of $2 million since the start of July 2022.

Lending 393

Lending Mortgage Design Business 393

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 414

Lending Mortgage Marketing Technology 414

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. In late 2022, Wells Fargo agreed to pay a civil penalty of $1.7

Lending 382

Lending Mortgage Legal 382

Housing Wire

JANUARY 5, 2023

Silvergate’s provisional fourth quarter earnings report revealed that it exited its mortgage warehouse lending product in the fourth quarter of 2022 due to “the current macro environment, the rising interest rate environment and related reduction in mortgage volumes.”. billion in crypto-related deposits. billion on September 30. “In

Lending 393

Lending Mortgage Investors Clients 393

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.

Lending 477

Lending Government Mortgage Housing Market 477

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. billion in the third quarter of 2022 to $9.3

Mortgage 414

Mortgage Lending Retail Business 414

Housing Wire

JUNE 13, 2023

Warehouse lending, one of the sources of liquidity to independent mortgage bankers (IMBs), usually has good yields and short term, according to industry experts. The bank expects to improve its loan-to-deposit ratio by 150 basis points by the end of 2023. It forecasts the ratio to be in the “mid 80s” by the end of this year.

Lending 370

Lending Finance Insurance Investors 370

Housing Wire

SEPTEMBER 2, 2022

When Mohtashami first used the phrase in his commentaries back in March, he said, “I have lost my five-year home-price growth model of 23% in just two years, and inventory has worsened in 2022. The post HousingWire Magazine: September 2022 appeared first on HousingWire. Go to page 19 to learn more. .

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Retail Housing Market Inventory Lending 403