Housing Wire

APRIL 9, 2024

The true cost of redlining Lenders need to carefully evaluate their lending strategies to ensure that they are not unintentionally practicing redlining by neglecting MMCT and LMI neighborhoods, or they may face millions in penalties. Adapting to meet the needs of an evolving homebuyer pool is vital to success in mortgage lending.

Modernization 343

Modernization Lending Legal Legal Fees 343

Housing Wire

APRIL 16, 2024

“Expect independent mortgage banks to continue taking share from the large commercial depositaries, which are still shrinking their footprints in lending and servicing,” Hagen said in a report on Tuesday. billion in outstanding residential mortgages on its books through March 31, 2024, down from $228.9 billion in Q4 2023 and $229.3

Mortgage 403

Mortgage Lending Business Finance 403

Housing Wire

AUGUST 31, 2023

Encompass Lending Group , a subsidiary of real-estate services platform Fathom Holdings, has acquired Austin, Texas-based Elite Financing Group, the company announced Thursday. Encompass Lending Group, with 11 active branches in seven states and Washington, D.C., Terms of the deal were not disclosed.

Finance 375

Finance Lending Retail Mortgage 375

Housing Wire

FEBRUARY 1, 2023

“As we said in our January 10 press release, we are exiting the correspondent lending business. Wells also decided to reduce its mortgage servicing rights (MSRs) book. The workforce reduction started on Tuesday at the Wells Fargo Mortgage office in Springfield.

Lending 373

Lending Mortgage Finance Business 373

Housing Wire

JANUARY 10, 2023

Kleber Santos , CEO of consumer lending since his appointment in July, said the bank will continue to be the primary mortgage lender to Wells Fargo bank customers and minority homebuyers through its mortgage retail team. “As In practice, the bank’s portfolio on correspondent lending was already in free fall.

Lending 477

Lending Real Estate Agent Mortgage Finance 477

Housing Wire

FEBRUARY 22, 2024

The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending. The unpaid principal balance in its servicing book increased to $509 billion as of Dec.

Mortgage 420

Mortgage Clients Lending Business 420

McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? Read the full survey results below. We do that.

Lending 99

Lending Appraisal Property Taxes Training 99

Housing Wire

DECEMBER 5, 2023

Benefits to lenders and consumers Employing such technological safeguards carries major advantages across mortgage lending stakeholders. Consumers also benefit as improved loan quality and lower perceived default risk opens lending access, allowing originators to offer more borrowers mortgage financing, often at better interest rates.

Technology 399

Technology Mortgage Investors Lending 399

Housing Wire

FEBRUARY 16, 2022

If your state requires a lending license, make sure a the lender is licensed. In comparison to larger banks or even a local credit union, private lending is more reliant on relationships. Establish a private money lending network for real estate. Put together a deal pitch book.

Real Estate 382

Real Estate Investing Investors Renovations 382

Housing Wire

SEPTEMBER 1, 2020

Across its mortgage footprint, “ Citizens Bank has hired close to 100 underwriters, processors and loan officers this year to keep up with the demand and further their commitment in the mortgage retail space,” said Ace Watanasuparp, who heads residential lending for Citizens in New York City. Citizens is not alone.

Loan Officers 393

Loan Officers Retail Lending Contracts 393

Housing Wire

AUGUST 4, 2022

Jay Farner, vice chairman and CEO of Rocket Companies, said the company introduced new lending programs, forged new mortgage partnerships, launched the solar business and expanded the brand to Canada during the quarter. The company’s servicing book unpaid principal balance reached $538 billion at June 30, 2022, up 6% from June 30, 2021.

Business 404

Business Lending Mortgage 404

Housing Wire

JUNE 9, 2021

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. We anticipate a smooth transition for our correspondent lending associates and business partners, with no disruption in service as the TIAA Bank team moves to PenFed,” TIAA said in a statement. billion in cash.

Lending 369

Lending Retail Business Contracts 369

Housing Wire

JULY 26, 2023

It’s a difficult lending market right now — one in which lenders and servicers can’t afford to lose customers. CoreLogic knows when current clients are demonstra­ting purchase intent (such as visiting open houses or homes listed for sale) or home equity lending needs (visiting contractors, visiting colleges, etc.).

Marketing 244

Marketing Clients Open Houses Lending 244

Housing Wire

SEPTEMBER 2, 2022

With rising rates and inflation, non-QM lending has spent the last few months in choppy waters , with some lenders closing their doors. However, the outlook for non-QM for the rest of 2022 is relatively optimistic, according to Acra Lending CEO Keith Lind. “We How could inflation affect lenders who have non-QM loans on their books? “It

Lending 373

Lending Business Brokerage Investors 373

Housing Wire

NOVEMBER 8, 2021

The correspondent channel grew 179%, mainly because the Texas Capital Bank lending business is integrated. In April, Ocwen announced it acquired the entire $14 billion book of mortgage servicing rights of Texas Capital Bank through its subsidiary PHH Mortgage. In the direct consumer channel, volumes were up 61% year-over-year.

Lending 306

Lending Sellers Business Clients 306

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday. San Francisco: Real estate activity rose slightly overall.

Mortgage 379

Mortgage Real Estate Inventory Construction 379

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. billion in originations to the GSEs, and its servicing book as of Oct. billion valuation. In all, this year the firm has originated $19.2 billion in securitized mortgages as of Oct. It sold $1.69

Finance 481

Finance Lending Retail Investing 481

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. How hybrid title and valuations help increase lending efficiency. Presented by: Altisource.

Insurance 383

Insurance Lending Real Estate Agent Valuation 383

Housing Wire

OCTOBER 14, 2020

Though its earnings were disappointing overall, residential lending at Wells Fargo rebounded in the third quarter, both in terms of income and origination volume. billion in income from its residential lending operation, up from $317 million in the prior quarter. In all, Wells Fargo collected $1.6 30, down slightly from $239.5

Business 460

Business Mortgage Lending Valuation 460

Housing Wire

OCTOBER 18, 2023

Bank of America had $229 billion in outstanding residential mortgages on its books through Sept. On July 27, the Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released the proposed changes for the Basel III rule (called the Basel endgame). BofA also originated $2.42

Mortgage 346

Mortgage Insurance Lending Business 346

Housing Wire

AUGUST 30, 2022

While the lending industry has traditionally seen a measured and conservative approach to technological evolution, we are finding that many “strategic” decisions are made during these relative lulls in production. We have also seen large multi-channel lenders reducing their risk footprint in wholesale and correspondent lending.

Tools 399

Tools Lending Technology Valuation 399

Mortgagebroker News

MAY 28, 2021

Award-winning private lending brokers discuss the emerging trends and challenges to be faced in the year ahead, how to diversify, and tips for building your book of business

Lending 48

Lending Business 48

Housing Wire

JANUARY 31, 2024

The new initiative, dubbed Refi 100, “aims to help independent mortgage brokers who work with UWM create their own refinance boom and grow their book of business,” the company said in a news release. In December, the lender offered a discounted rate on some government loans that is valid until Jan. Brokers, however, must follow some rules.

Government 431

Government Mortgage Clients Business 431

Housing Wire

DECEMBER 27, 2023

Meanwhile, Planet Home Lending, the only lender among the top-14 to increase origination volumes from January to September, compared to the same period last year, said it wants to also grow its servicing business. ” Planet Home Lending: Focusing on MSRs Some M&A transactions are not motivated purely by the origination platform.

Mortgage 393

Mortgage Retail Lending Sellers 393

Housing Wire

FEBRUARY 7, 2023

Clients will also benefit from access to new digital and customer relationship tools that improve every step in the lending experience, including servicing, a Guild strength for decades,” Thompson said in prepared remarks. By joining Guild, Legacy loan officers can offer additional mortgage products and specialized loan programs.

Retail 382

Retail Mortgage Loan Officers Technology 382

Housing Wire

MAY 26, 2021

As part of its purchase of Texas Capital Bank’s servicing book, Ocwen also acquired the lender’s correspondent business. Texas Capital’s correspondent lending business originated approximately $2.4 billion of volume in the fourth quarter, slightly less than Ocwen’s correspondent lending arm during the same period.

Lending 392

Lending Mortgage Insurance Government 392

Housing Wire

JULY 18, 2023

And nonbanks, including mortgage lending, which you referenced, half of it goes through nonbanks and those, the resilience of those institutions, is interesting to watch through cycles.” billion in outstanding residential mortgages on its books through June 30, down from $229.2 BofA also originated $2.54 Bank of America had $228.7

Mortgage 322

Mortgage Lending Business Retail 322

Housing Wire

JUNE 23, 2021

This, in turn, creates stable, deep liquidity, which reduces mortgage rates, particularly for long-term fixed rate lending. This has us on a path to a system in which lending will be more expensive and less widely available, leading to a housing finance system that is less stable and provides less access to credit.

Government 541

Government Finance Lending Mortgage 541

Housing Wire

APRIL 23, 2021

Texas Capital Bank is selling its entire $14 billion book of mortgage servicing rights to PHH Mortgage , a subsidiary of Ocwen Financial Corp , for a “modest profit.” Texas Capital’s correspondent lending business originated approximately $2.4 The transaction is expected to close in the second quarter of this year.

Business 192

Business Lending Insurance Sellers 192

Housing Wire

JANUARY 13, 2023

“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 outstanding residential mortgages on its books through Dec. billion in a civil penalty related to automobile lending, consumer deposit accounts and mortgage lending.

Mortgage 410

Mortgage Lending Retail Business 410

Housing Wire

OCTOBER 2, 2020

Caliber, headed by CEO Sanjiv Das, has retail, wholesale and correspondent lending channels, and has developed a large book of business in the purchase space. It originated about $36 billion in mortgages during the first half of the year, according to Inside Mortgage Finance.

Valuation 358

Valuation Retail Mortgage Inventory 358

Housing Wire

OCTOBER 5, 2021

UniversalCIS followed through on that promise with the acquisition of the lending solutions arm of DataFacts in August. Credit Plus and UniversalCIS said their firms’ merger will result in a firm with a book of 6,500 clients, spanning banks and non-bank mortgage lenders, credit unions and mortgage brokers.

Mortgage 357

Mortgage Lending Clients Investing 357

Housing Wire

MAY 2, 2022

However, in the midst of that massive volume, companies were working furiously to balance demand and resources — balancing and rebalancing the books. Angel Oak Lending. Looking at the housing industry from a bird’s eye view in 2021, it’s easy to see the fast-paced housing market and the record-setting surge in volume.

Finance 332

Finance Realty Mortgage Lending 332

BiggerPockets

JULY 15, 2022

Blogs, podcasts, books, and other media share tactics to successfully find this capital and have […]. Undoubtedly, active real estate investors have heard about raising private money for real estate projects.

Lending 63

Lending Investing Real Estate Investors 63

Housing Wire

MARCH 18, 2022

Amid a tough environment for forward mortgage lending, Finance of America is betting on specialty finance & services products – reverse mortgages, investor loans, commercial loans – which are expected to deliver most of the return this year. “We On paper, the company posted a $1.17

Finance 467

Finance Mortgage Business Lending 467

Housing Wire

FEBRUARY 4, 2021

Direct lending interest rate lock commitments (IRLCs) came in at a record $18.6 PennyMac Financial delivered another strong quarter, with book value per share increasing 15% on record production levels,” President and CEO David Spector said in a statement. PennyMac’s pretax income for originations checked in at $572.6

Lending 296

Lending Investors Mortgage Investing 296

Housing Wire

DECEMBER 13, 2021

Serving some of the top organizations in the real estate and lending space is a privilege,” said Jason Mitchell, president of JMG. When you are able to add the number of closings we do to our agents’ book of business, they understand the importance of delivering the results we require.”.

Real Estate 414

Real Estate Real Estate Agent Agents Clients 414