Housing Wire

JANUARY 23, 2023

Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. Tavant, an HW Tech100 winner for multiple years, helped underwrite more than 80,000 loans in 2021.

Lending 385

Lending Mortgage Technology Design 385

Appraisal Buzz

AUGUST 29, 2024

from a peak reached in 2021 and down 1.6% Key Findings: Improvements in all main residential loan categories—particularly for home purchase—led to an increase in total lending. Purchase loans were followed by refinance packages and home equity lending. trillion in 2021, that was an increase from $417.4 from Q2 of 2023.

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Lending Mortgage Buyers Housing Market 341

Housing Wire

JUNE 17, 2024

loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. Abarca joined loanDepot as an underwriter in 2013 and became vice president of lending operations in 2021. billion in mortgages, down from $5.3 billion in the previous quarter.

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Lending Mortgage Tools Development 372

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 444

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021.

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Lending Loan Officers Retail Legal 310

Housing Wire

AUGUST 17, 2021

But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues. Push for tech.

Mortgage 518

Mortgage Inventory Real Estate Technology 518

Housing Wire

NOVEMBER 22, 2023

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. billion valuation in a venture-backed funding round in 2021. JP Morgan Chase & Co. for the IPO.

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Lending Valuation Technology Retail 384

Housing Wire

JANUARY 27, 2023

The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.

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Lending Real Estate Agent Loan Officers Retail 384

Housing Wire

OCTOBER 10, 2023

“Our Marketplace unites a multitude of industry-leading solutions with the MeridianLink One platform to deliver exceptional consumer experiences and streamline contemporary lending processes,” Megan Pulliam, SVP of MeridianLink Marketplace, said in a statement.

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Lending Technology Design Mortgage 356

Housing Wire

JUNE 10, 2024

Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. Pham has 23 years of marketing experience in the real estate and finance sectors.

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Lending Business Real Estate Finance 303

Housing Wire

DECEMBER 8, 2023

A former mortgage consultant who worked for Wells Fargo and ultimately brought a case against the company in a Southern California court over allegedly being fired for complaining about discriminatory lending practices has settled with the company, according to reporting from Los Angeles-based radio outlet KNX News.

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Lending Contracts Mortgage 338

Housing Wire

FEBRUARY 4, 2021

Strategies lenders should adopt from direct to consumer lending. Join expert panelists to learn how the pandemic is ushering in a new era of digital lending and leading to the formation of a hybrid lending model. The average LO managed to produce $2.6

Mortgage 542

Mortgage Lending Training Inventory 542

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Mortgage Marketing Retail Lending 526

Housing Wire

JANUARY 10, 2024

In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina. million in tenant improvements in North Carolina since 2021, the letter added.

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Investing Tenants Development Loan Officers 328

Housing Wire

JUNE 22, 2022

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. Home lending net revenue reached $1.2 billion in the first quarter, down 20% compared to the same quarter in 2021.

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Mortgage Lending Business Marketing 513

Housing Wire

JULY 27, 2023

. “Staff of the agencies estimated that five large bank holding companies would have shortfalls in their common equity tier 1 capital requirement under this proposal based on year-end 2021 data,” FDIC Chairman Martin Gruenberg said in a statement. ” Comments on the proposal will be accepted through November 30, 2023.

Lending 341

Lending Mortgage Insurance Modernization 341

Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. from 2012 to 2021. The GAO said that the VA lacked the staff to run the lending program and failed to inform communities that it exists.

Government 522

Government Lending Development Legal 522

Housing Wire

FEBRUARY 9, 2021

A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. What happens when borrowers have more control of the lending process? FormFree is launching a blockchain-based exchange for consumers to take control of the mortgage lending process.

Mortgage 542

Mortgage Lending Government Contracts 542

Appraisal Buzz

NOVEMBER 25, 2024

However, the growth in business for lenders was considerably below a rise in the spring of 2024, and even though home-mortgage rates fell by about 6% for a 30-year fixed loan by the end of Q3 2024, total mortgages were still nearly two-thirds lower than their peak in 2021. trillion in 2021, that was an increase from $537.5 In most U.S.

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Lending Mortgage Buyers Real Estate 397

Housing Wire

JANUARY 3, 2022

Per the report , between October to December 2021, median home prices in 440 of the 575 counties analyzed by the data vendor saw notable home-price growth. The data vendor also noted that in the third quarter of 2021 , 428 counties from the same data set were labeled as less affordable, up from 224 counties in the fourth quarter of 2020.

Property Taxes 535

Property Taxes Lending Housing Market Insurance 535

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. Refinancings fell to 13% of the portfolio in Q4 2022, compared to 59% in Q4 2021. billion in Q4 2022, a decline of 45% compared to the prior quarter and an 84% drop from Q4 2021.

Mortgage 428

Mortgage Lending Retail Business 428

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. Of those impacted in home lending so far this year, about 35% are moving into other roles within Wells Fargo,” Holmes said. Wells Fargo’s revenues in the home lending business totaled $1.5

Mortgage 435

Mortgage Lending Business Development 435

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. That was good for no.

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Lending Real Estate Agent Mortgage Finance 501

Housing Wire

JANUARY 18, 2022

“As a direct lender that is already licensed, audited, and insured, Milo is able to stand behind its commitment to lend its clients,” Milo said. Other lenders have also made a bet that cryptocurrency will be integrated into the lending space, despite ongoing fears of volatility with digital currencies.

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Mortgage Clients Real Estate Technology 500

Housing Wire

JULY 15, 2022

billion, up 5% compared to the previous quarter but down 36% compared to the same period in 2021. The bank’s home lending business revenues reached $972 million, declining 35% compared to the prior quarter and 53% compared to the same period of 2021. billion in the same period of 2021. billion in Q1 2022 to $9.2

Business 420

Business Mortgage Lending Retail 420

Housing Wire

DECEMBER 11, 2023

fair lending laws has been on regulators’ radar in recent years. CFPB’s probe into mortgage lenders The CFPB’s probe into mortgage lenders was shared back in Fall 2021. The CFPB has been tightening its screws on fair lending practices. Its findings showed that mortgage lenders violated U.S. Wells Fargo paid $3.7

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Mortgage Lending Law Loan Officers 442

Housing Wire

FEBRUARY 6, 2024

The complaint alleges that, from 2017 through 2021, FNB failed to provide mortgage services to predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem, North Carolina. The bank committed to opening three new branches in these neighborhoods and hiring a director of community lending.

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Advertising Lending Loan Officers Law 392

Housing Wire

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 443

Mortgage Loan Officers Lending Human Resources 443

Housing Wire

JUNE 14, 2021

In addition to the bond market yield action, responsible lending post-2010 gave me confidence that forbearance was not going to be the negative issue that many had hoped for. While lending standards were never tight in American in the 21st century, they were very responsible post-2010.

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Lending Marketing Housing Market 521

Housing Wire

JANUARY 29, 2024

Other cases Another lawsuit recently filed by UWM was against Madison Atrina LLC , doing business as District Lending. However, District Lending has submitted at least 84 mortgage loans to UWM rivals, which brought at least $420,000 in liquidated damages, according to the lawsuit filed in Michigan on Dec.

Contracts 448

Contracts Loan Officers Lending Retail 448

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

Construction 414

Construction Development Finance Lending 414

Housing Wire

OCTOBER 11, 2024

million agreement with Citadel Federal Credit Union to settle allegations of lending discrimination in certain neighborhoods of Philadelphia with majority Black and Hispanic populations. Department of Justice (DOJ) announced on Thursday a $6.5 This is the DOJ’s first redlining settlement involving a credit union.

Lending 367

Lending Modernization Law Investing 367

Housing Wire

MARCH 6, 2023

The expansion is part of the company’s strategy to grow its presence and focus on residential mortgage lending. Dammeyer and Hammett have over 50 years of combined lending experience. billion in 2021, which dropped to $1.2 In January, GHMC hired Andy Voyles as its executive vice president and director of retail lending.

Retail 412

Retail Mortgage Lending Technology 412

Housing Wire

JANUARY 21, 2022

in 2021 to 6.2% trillion in 2021 to $2.1 In light of this, HousingWire sat down with Saleforce’s Global Head for Mortgage and Lending, Geoff Green, to learn how lenders can better turbocharge mortgage for today’s home buyers. trillion in 2021 to $3.3 trillion in 2021 to $1.2 million in 2023.

Mortgage 482

Mortgage Housing Market Government Buyers 482

Housing Wire

APRIL 5, 2022

500 million in Metaverse purchases in 2021 says that, yes, the demand is there. Lending is lending. Note that in 2021, the largest purchase of virtual real estate was a single transaction for $4.3 But we do live in a world of disclosures when lending money. The debate is likely to continue for years to come.

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Real Estate Mortgage Property Taxes Law 532

Housing Wire

JANUARY 31, 2023

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. jump from the same period in 2021. uptick from the third quarter and a 40% increase from December 31, 2021.

Business 416

Business Mortgage Lending Insurance 416

Housing Wire

JULY 7, 2022

Another cornerstone of Fannie Mae’s equity plan is the use of targeted lending programs. Fannie Mae sought feedback while its plan was in development and learned some lenders were hesitant to implement special purpose credit programs, which can target lending products based on a protected class.

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Lending Insurance Development Mortgage 424