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

Lending 376

Lending Mortgage Business Finance 376

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation. We spoke with her about what she has been up to since her nomination nearly four years ago.

Lending 335

Lending Mortgage Retail Technology 335

Housing Wire

AUGUST 29, 2023

A group of banks in Kentucky is seeking to block the implementation and enforcement of the Consumer Financial Protection Bureau (CFPB)’s small business lending rule , the latest in a series of challenges brought by parties including legislators and industry groups. The rule, which was finalized in March, fulfills a mandate from Congress.

Lending 353

Lending Business 353

Housing Wire

JUNE 23, 2023

HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. was acquired by Legend Lending Corporation. I was then promoted to chief innovation officer of Legend Lending Corporation. We spoke with her about what she has been up to since her nomination nearly four years ago.

Lending 325

Lending Mortgage Retail Technology 325

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. The post Wells Fargo to shutter correspondent lending?

Lending 370

Lending Mortgage Finance Retail 370

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. Responses were received from 66 domestic banks and 19 U.S.

Lending 353

Lending Mortgage Loan Officers Real Estate 353

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.

Lending 353

Lending Realtors Inspection Finance 353

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 Nations Lending originated $3.43

Realtors 338

Realtors Lending Mortgage Real Estate Agent 338

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 493

Lending Mortgage Inventory Housing Market 493

Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government.

Mortgage 378

Mortgage Lending Advertising Government 378

Housing Wire

SEPTEMBER 21, 2022

Martin, Firth Third’s group head of mortgage warehouse finance, along with a team of warehouse lending professionals, will be based in Dallas. Warehouse lending offers short-term financing to mortgage bankers that provides interim liquidity until loans are sold or securitized in the secondary market.

Lending 386

Lending Mortgage Business Finance 386

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 post Mountain West Financial steps back from wholesale lending appeared first on HousingWire.

Lending 430

Lending Mortgage Retail Clients 430

Housing Wire

SEPTEMBER 25, 2023

If it is not reauthorized by Congress before that date, the mortgage industry could see consequences, including ceding control of certain land use policies and the cessation of some mortgage lending. This is according to government researchers, other experts and lawmakers in a U.S. Senate Banking Committee hearing earlier this month.

Mortgage 242

Mortgage Insurance Lending Realtors 242

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.

Lending 338

Lending Mortgage Business Government 338

Housing Wire

APRIL 25, 2023

Tavant , a Silicon Valley-based digital lending solutions provider, is adding a new product called Asset Analysis to its AI-powered digital lending platform, Touchless Lending. Touchless Lending provides straight-through mortgage processing and automated underwriting as part of the end-to-end mortgage manufacturing pipeline.

Lending 323

Lending Mortgage Loan Officers Investors 323

Housing Wire

AUGUST 10, 2022

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp. The post Lone Peak Lending joins Panorama Mortgage Group appeared first on HousingWire.

Mortgage 418

Mortgage Lending Loan Officers Realtors 418

Housing Wire

APRIL 11, 2023

House of Representatives are working to try and block the new small business lending rule that was recently unveiled by the Consumer Financial Protection Bureau ( CFPB ). Former CFPB Director Richard Cordray noted in 2017 that small business lending requirements should mirror those of the mortgage industry, which drew a mixed response.

Lending 345

Lending Business Mortgage Government 345

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 368

Lending Mortgage Retail Business 368

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. We would feed them leads, but they came back to us because they didn’t know how to structure the full document deals,” Jay Voorhees, co-founder at JVM Lending, said in an interview with HousingWire.

Lending 390

Lending Real Estate Agent Real Estate Realtors 390

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. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.

Lending 371

Lending Mortgage Loan Officers Finance 371

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.

Appraisal 540

Appraisal Lending Property Appraisal Mortgage 540

Housing Wire

JULY 18, 2023

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. Bloomberg reported that U.S. “In the recent past, it’s actually been very profitable, then it was less so.

Mortgage 360

Mortgage Lending Insurance Government 360

Housing Wire

OCTOBER 12, 2022

Over the past year, Homepoint sold off large chunks of its business including selling its delegated correspondent business to Planet Home Lending. The post Homepoint shrinks its lending capacity appeared first on HousingWire. Home Point Financial ranked as the 14th largest lender in the country, according to Inside Mortgage Finance.

Lending 381

Lending Mortgage Finance Contracts 381

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. The lawsuit was filed under the Fair Housing Act by three counties in Georgia.

Lending 364

Lending Mortgage Legal 364

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 324

Lending Mortgage Loan Officers Retail 324

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 369

Lending Mortgage Loan Officers Retail 369

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 million related to the proceeds of two notes it owned and funded. District Court in the Central District of California, Southern Division. Zillow shows the estimated price is $26.5

Lending 378

Lending Mortgage Design Business 378

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.

Lending 353

Lending Mortgage Valuation Appraisal 353

Housing Wire

APRIL 13, 2023

To address the challenges and inefficiencies in the traditional lending process, Tavant has developed the Touchless Lending platform, which leverages advanced technologies like artificial intelligence, machine learning, data analytics and cloud computing.

Lending 310

Lending Mortgage Investing Technology 310

Housing Wire

MARCH 11, 2022

With the increasing regulatory focus on expanding affordable lending programs, mortgage lenders need to have a plan to serve the underserved. Many lenders have historically shied away from offering a robust affordable lending product line, including down payment assistance (DPA) programs and ITIN mortgages. Finding the ‘why’.

Lending 344

Lending Mortgage Contracts Finance 344

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.”.

Mortgage 430

Mortgage Lending Marketing Investors 430

Housing Wire

FEBRUARY 3, 2021

Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. The post Why mortgage lending standards will ease in 2021 appeared first on HousingWire. Such a scenario illustrates the growing disparities in the U.S. housing market.

Lending 545

Lending Mortgage Housing Market Insurance 545

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. To that end, the GSEs will accept alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

Appraisal 493

Appraisal Lending Property Appraisal Inspection 493

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 317

Lending Mortgage Finance Investors 317

Housing Wire

JUNE 6, 2023

In honor of National Homeownership Month, Chase Home Lending unveiled on Tuesday an upgraded suite of resources for homebuyers to assist in navigating the homebuying process and managing homeownership.

Lending 334

Lending Buyers Mortgage Housing Market 334

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. To that end, the GSEs will accept alternative forms of employment verification, including a recent paystub, to ensure lending can continue.

Appraisal 540

Appraisal Lending Property Appraisal Mortgage 540

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 462

Lending Mortgage Housing Market Government 462