Housing Wire

MARCH 31, 2023

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. “For

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Lending Business Government Design 377

Housing Wire

JULY 31, 2023

banks have tightened their lending standards for residential real estate (REE) loans and home equity lines of credit (HELOC) in the second quarter amid the collapse of regional banks and a cascade of interest rate hikes by the Federal Reserve to tame inflation. A 40%-plus net share of all U.S. branches and agencies of foreign banks.

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Lending Mortgage Loan Officers Government 370

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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Lending Government Mortgage Housing Market 480

Housing Wire

AUGUST 18, 2023

The waivers come as thousands of government-backed mortgages on the island have been impacted by the disaster, according to data released by the office of Hawaii Gov. It’s natural to want to lend a hand to others who have been affected by an emergency,” CFPB said in an announcement distributed on Friday. Josh Green (D).

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Government Mortgage Tenants Development 370

Housing Wire

JUNE 22, 2023

In addition, the groups “request transparency in the process of developing final guidelines for condo and housing cooperative lending requirements.” “Any In the letter , addressed to FHFA Director Sandra Thompson , the associations ask for “reasonable” building inspection requirements for aging infrastructure. the letter states.

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Lending Development Inspection Realtors 370

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. The relaxed lending standards allowed the GSEs to use “appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.” 31, 2021. “We 31, 2021 from Dec.

Lending 539

Lending Appraisal Inspection Property Appraisal 539

Housing Wire

JANUARY 24, 2022

The appraisal industry’s “byzantine regulation structure,” according to the report’s authors — experts in fair housing, fair lending and valuation — has stunted the appraisal industry’s understanding of fair housing risk. The post The appraisal industry’s governance problem appeared first on HousingWire.

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Government Appraisal Reconsideration of Value Lending 370

Appraisal Buzz

AUGUST 12, 2021

A groundbreaking partnership between two government agencies—U.S. HUD, historically charged with administering and enforcing the act, together with the FHFA, which regulates Fannie Mae and Freddie Mac, … The post Agencies Join to Advance Unbiased Lending appeared first on theMReport.com.

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Lending Government Finance Development 370

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Government Legal Law 426

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. According to its website, it includes a portfolio with fixed and adjustable rate mortgages (ARMs) and government loans, such as FHA, USDA and VA loans.

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Lending Loan Officers Government Realtors 380

Housing Wire

AUGUST 17, 2022

Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc., EagleBank , one of the largest community banks in metro Washington, D.C.,

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Lending Government Investors Law 379

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

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. A decline in MCAI, benchmarked to 100 in March 2012, indicates that lending standards are tightening while an increase in the index suggests a loosening of credit. billion in 2022 from last year’s $4.4

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Lending Government Mortgage Investors 370

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. However, the government agency is now pushing that back to at least April 30, 2021. As of March 11, the CDC reported close to 95.7

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Lending Appraisal Inspection Property Appraisal 481

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. The watchdog agency provided clarity for the kind of research and data that go into creating a targeted lending program.

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Lending Development Finance Law 376

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. And as instant online automated approval and closing continues to elude home equity lending, attention has turned to artificial intelligence.

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Lending Valuation Mortgage Government 381

Housing Wire

JULY 18, 2023

Residential mortgage-backed securities guaranteed by the government-sponsored enterprises wouldn’t be affected by the change. It would likely further chill jumbo lending by regional banks. ” Regarding mortgage lending, Barnum said it’s a cyclical business and they might pull back even further.

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Lending Mortgage Insurance Government 370

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.

Lending 437

Lending Loan Officers Mortgage Government 437

Housing Wire

DECEMBER 7, 2021

ECOA prohibits reverse redlining — targeting minority communities for predatory lending — but Congress amended the statute in 1976 to allow for special purpose credit programs. It could be a sustainable lending product for a community where a lender has had poor penetration. A special purpose credit program can take many forms.

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Lending Law Design Government 437

Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation.

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Lending Technology Tools Loan Officers 380

Housing Wire

DECEMBER 14, 2021

The non-QM mortgage market, which encompasses most home loans not backed by a government-sponsored guarantee, is expected to reach the $25 billion mark this year in private-label securitization volume. . The post Automation is coming to non-QM lending appeared first on HousingWire.

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Lending Technology Government Investors 380

Housing Wire

DECEMBER 24, 2021

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

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Lending Finance Development Law 405

Housing Wire

AUGUST 14, 2020

A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology. Planet Home Lending has promoted four people to vice president positions, supporting the company’s continual growth.

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Lending Retail Development Realty 323

Housing Wire

JANUARY 25, 2024

A&D Mortgage offers a wide range of products, including conventional loans, government loans, foreign national loans and non-QM loans, to cater to a diverse array of borrower needs. This strategic move aims to enhance the company’s conventional lending services.

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Mortgage Lending Government Business 385

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. The post Real estate brokerage Radius unveils mortgage-lending arm appeared first on HousingWire.

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Brokerage Real Estate Lending Mortgage 395

Eyes on Housing

FEBRUARY 12, 2024

According to the Federal Reserve Board’s January 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards loosened for all commercial real estate (CRE) loan categories and residential real estate (RRE) categories in the fourth quarter of 2023. Even though the federal funds rate remained unchanged, Read More ›

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Real Estate Lending Loan Officers Government 100

Housing Wire

FEBRUARY 21, 2023

The company’s primary focus will be on its specialty finance and services (SF&S) businesses, including its Finance of America Reverse (FAR) vertical, which offers government-sponsored and private-label reverse mortgages to older homeowners.

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Business Lending Finance Real Estate 366

Housing Wire

APRIL 10, 2024

the new program starts on May 31 and will result in a government subsidy reduction of approximately $1.5 Wednesday’s announcement, the National Consumer Law Center (NCLC) and the Center for Responsible Lending (CRL) asked the V.A. They also mention impacts on the federal budget. According to the V.A., billion from 2024 to 2033.

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Mortgage Government Lending Law 412

Housing Wire

JANUARY 30, 2024

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.

Investing 397

Investing Mortgage Lending Loan Officers 397

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. AFR offers agency, nonagency and government lending products. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

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Lending Renovations Construction Finance 409

Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” Ginnie Mae accordingly implored TCB to lend money to RMF.

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Government Contracts Finance Lending 396

Housing Wire

JUNE 7, 2022

Servicers, especially those who service government-insured loan products, are under statutory time constraints that give them very little wiggle room. The post Are these factors creating chaos in your mortgage lending ops? Both lenders and servicers are under constant time pressure to complete their work.

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Lending Mortgage Technology Modernization 354

Housing Wire

OCTOBER 16, 2023

Generative artificial intelligence (AI) has tremendous potential to cut costs and improve customer experience, but regulation has not caught up to develop a governance program, industry pros said of AI’s implementation in mortgage lending. Have we developed a model that is in fact fair?

Technology 455

Technology Lending Government Legal 455

Housing Wire

SEPTEMBER 29, 2020

They are specialists when it comes to buying and servicing government loans. Be proactive now about balancing your lending diet, equipping your staff to handle a range of responsibilities and solidifying your brand’s presence in the marketplace. When the sugar high is gone, they’ll be your anchor for bringing in traditional business.

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Lending Loan Officers Business Investors 427

Housing Wire

APRIL 23, 2024

Department of Labor (DOL) on Tuesday announced a new rule that governs retirement advice, requiring more financial advisers to follow stricter fiduciary standards when dispensing advice about retirement-focused investments. Retirement investors are best protected by a uniform and protective framework.”

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Investing Investors Design Government 375

Housing Wire

FEBRUARY 21, 2024

The industry side of the board includes Eddy Perez, CEO of Equity Prime Mortgage (EPM) ; Phil Shoemaker , CEO of The Loan Store ; Chris Vinson, CEO of Windsor Mortgage ; and Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group (PRMG). Additionally, mortgage broker Jerry Robinson from 1st Choice Mortgage Co.

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Lending Finance Retail Mortgage 406

Housing Wire

MARCH 28, 2024

Just five lenders originated more than 75% of all home-only loans from 2018 to 2022, four of whom specialize in home-only lending. The home-only lending market presents several major opportunities. Much of this market dysfunction is also attributable to a lack of lenders.

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Business Finance Buyers Lending 445