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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. The rising rate environment also had an impact on Northpointe’s origination in 2022.

Lending 354
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Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” The pool of non-QM borrowers includes real estate investors, fix-and-flippers, foreign nationals, business owners, gig economy workers and the self-employed.

Investors 352
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Comerica Bank to ‘organically exit’ warehouse lending

Housing Wire

Warehouse lending, one of the sources of liquidity to independent mortgage bankers (IMBs), usually has good yields and short term, according to industry experts. In March, Moody’s Investor Service listed Comerica among the nation’s top warehouse lenders for potential rating downgrades.

Lending 291
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FAR parent updates investors on AAG integration, business performance

Housing Wire

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

Business 370
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Blend breaks into title insurance with latest acquisition

Housing Wire

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 365
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Figure Lending lands $100M funding facility

Housing Wire

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. In a statement, Figure said the $100 million loan facility represents another push toward growth in mortgage lending. Mike Cagney, SoFi. billion across these deals.

Lending 250
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Is investor appetite for non-QM changing?

Housing Wire

HousingWire recently caught up with Steven Schwalb, managing partner of Angel Oak Lending, about the changes investor appetite has gone though for non-QM. HousingWire: What is the investor appetite for non-QM and how has that changed over the past few years? Do they need a pre-closing investor review? Of that volume, $6.2

Investors 316