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Colonial Savings to exit mortgage origination business

Housing Wire

has decided to exit the origination business amid one of the most challenging cycles in decades, provoked by the Federal Reserve ‘s tightening monetary policy and a banking crisis. The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. Texas-based Colonial Savings, F.A.

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Wells Fargo conducts another round of layoffs in home lending business

Housing Wire

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.

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Attracting More Appraisal Business

Cleveland Appraisal Blog

Mortgage lending work is only one type of business where appraisals are needed. Isn’t this just good business practice anyway? It just means we’re kind, and that can lead to more business and referrals. I do generate a little extra business from offering home measurement and floor plan services.

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Northpointe Bank to shutter its correspondent lending business

Housing Wire

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. Production declined 25% to $5.49 billion in 2022 from the previous year’s volume of $7.29

Lending 357
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First Internet Bank is shuttering its consumer mortgage business

Housing Wire

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. It will also include the company’s local traditional consumer mortgage and construction-to-permanent businesses.

Mortgage 406
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CFPB issues its final rule on small business lending

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.

Lending 309
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First Federal Bank to acquire BNC National Bank’s mortgage business

Housing Wire

The bank, consisting of 25 branches in the Southeast and operations in the Midwest, serves mortgage, small business administration (SBA) and USDA customers. First Federal Bank, a community-based mutual institution headquartered in Lake City, Florida, has assets of more than $3.6 billion, according to its website.

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