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.”.

Lending 448

Lending Mortgage Marketing Technology 448

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. That represents an aggregate gain of $1.1

Lending 480

Lending Inventory Mortgage Finance 480

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 501

Lending Mortgage Business Inventory 501

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 trillion in 2022, down from the previous year’s $4.4

Lending 353

Lending Realtors Real Estate Agent Mortgage 353

Housing Wire

APRIL 29, 2024

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. He cited a difficult market and elevated rates as reasons for shutting down correspondent and consumer lending businesses , which were added in 2022.

Lending 467

Lending Clients Business Real Estate 467

Housing Wire

FEBRUARY 22, 2023

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. The bank’s mortgage servicing rights declined by 5% to $9.3

Lending 524

Lending Business Finance Mortgage 524

Housing Wire

JANUARY 13, 2023

Like its nonbank competitors, Wells Fargo , JPMorgan Chase and Bank of America operated in a highly challenging mortgage market in 2022. “The fourth quarter results were weaker than we expected,” a team of mortgage lending analysts at Keefe, Bruyette & Woods wrote in a report. The retail channel, with $8.2

Mortgage 446

Mortgage Lending Retail Business 446

Appraisal Buzz

NOVEMBER 18, 2024

Jay Crowell has been promoted to the newly created position of president of national retail division at Cornerstone Home Lending. Crowell joined Cornerstone Home Lending in 2009 and most recently served as president of the Pacific Northwest region. million in loan volume per loan officer, according to data from Modex.

Retail 195

Retail Lending Loan Officers Realtors 195

Housing Wire

FEBRUARY 21, 2024

North Carolina-based mortgage lender Premier Lending Inc. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a release. “By

Lending 410

Lending Government Mortgage Finance 410

Housing Wire

JANUARY 6, 2022

The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%. The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior.

Mortgage 511

Mortgage Lending Technology Business 511

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. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 393

Lending Business Retail Client Relationships 393

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 In addition, the bank alleges that Sprout’s transactions with its warehouse lines have resulted in a deficiency of $2 million since the start of July 2022.

Lending 406

Lending Mortgage Design Business 406

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. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

Lending 430

Lending Valuation Technology Retail 430

Housing Wire

JULY 13, 2023

Non-qualified mortgage (non-QM) lender NewFi Lending has launched a correspondent lending channel at a time when originators are fighting to grab production volume. “Non-QM Non-QM product offerings are critical to any mortgage bankers’ offerings in today’s market. from Q4 2022. from the last quarter’s 28.6%

Lending 366

Lending Retail Realtors Mortgage 366

Appraisal Buzz

SEPTEMBER 5, 2024

Despite home equity lending volume remaining relatively flat in 2023 compared to 2022, outstanding home equity debt increased, according to the Mortgage Bankers Association’s (MBA) 2024 Home Equity Lending Study. billion in 2022. billion in 2022. billion per company in 2023, from $2.10

Lending 221

Lending Inspection Valuation Renovations 221

Housing Wire

DECEMBER 8, 2022

Lending standards loosened in November for the first time in nine months as mortgage rates remaining elevated and the housing market slowed further, the Mortgage Bankers Association (MBA) said on Thursday. Mortgage applications fell 1.9% Mortgage applications fell 1.9% million in 2022.

Housing Market 419

Housing Market Lending Mortgage Marketing 419

Housing Wire

JUNE 6, 2022

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. 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.

Mortgage 448

Mortgage Loan Officers Lending Human Resources 448

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). We welcome a partnership with the FHLB-SF to enhance our strength and reach as America’s CDFI,” said Steven Sugarman , founder of the Change Company, the parent company of Change Lending. “We

Lending 419

Lending Renovations Legal Real Estate 419

Housing Wire

JANUARY 5, 2023

Silvergate Capital Corporation , parent company of Silvergate Bank , which provided services to Sam Bankman-Fried’s now-collapsed crypto empire, walked away from its mortgage warehouse business and cut workforce by 20% as clients pulled $8.1 billion in debt securities at a loss of $718 million during the fourth quarter of 2022.

Lending 394

Lending Mortgage Investors Clients 394

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 437

Lending Tools Inventory Renovations 437

Housing Wire

AUGUST 1, 2023

billion in new mortgages for apartment buildings with five or more units in 2022, a reduction of around 1% when compared to 2021 levels. This is according to an annual report of the multifamily lending market compiled and released by the Mortgage Bankers Association (MBA).

Lending 317

Lending Government Real Estate Mortgage 317

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 526

Mortgage Marketing Retail Lending 526

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. Is now a good time to invest in real estate automation technologies?

Real Estate 418

Real Estate Brokerage Lending Mortgage 418

Housing Wire

JUNE 20, 2023

Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. In terms of dollar volume, there was an estimated $251 billion in HELOC originations during all of 2022, up from $182 billion in 2021.

Technology 350

Technology Lending Housing Market Investors 350

Housing Wire

AUGUST 30, 2022

Add mortgage lender Mountain West Financial to the list of victims of the price war in the wholesale channel. 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.

Lending 448

Lending Retail Mortgage Clients 448

Appraisal Buzz

AUGUST 15, 2024

billion in new mortgages for apartment buildings with five or more units in 2023 – a decrease of 49% compared with 2022, according to the Mortgage Bankers Association (MBA). billion of multifamily mortgages originated in 2023 went to a variety of investors. Multifamily lenders provided a total of $246.2

Lending 195

Lending Government Real Estate Investors 195

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. million in Q2 2022. million in Q2 2022.

Lending 402

Lending Technology Design Mortgage 402

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. billion as of the quarter ended June 30, 2022.

Lending 370

Lending Business Finance Retail 370

Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. billion over the past two months, citing “current and projected mortgage loan originations.” trillion in 2023.

Lending 407

Lending Contracts Finance Mortgage 407

Housing Wire

APRIL 5, 2023

Rocket Mortgage hung onto its claim as the nation’s largest home lender in 2022 — by the skin of their teeth. According to Home Mortgage Disclosure Act (HMDA) data collated by mortgage data firm iEmergent , Rocket originated $127.58 billion in home loans in 2022, edging rival United Wholesale Mortgage by about $63.5

Mortgage 361

Mortgage Home Improvement Brokerage Lending 361

Housing Wire

APRIL 30, 2024

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

Lending 412

Lending Finance Government Realtors 412

Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations. What if it doesn’t?).

Marketing 482

Marketing Mortgage Supply Chain Inventory 482

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

Lending 420

Lending Finance Legal Contracts 420

Appraisal Buzz

SEPTEMBER 13, 2024

The latest Mortgage Credit Availability Index (MCAI) released by the Mortgage Banker’s Association (MBA) indicated that there was an increase in mortgage credit availability in August. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 414

Mortgage Government Lending Construction 414

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. . Wells Fargo’s mortgage revenues totaled $1.5

Lending 370

Lending Retail Business Mortgage 370

Housing Wire

MARCH 12, 2024

nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fairway Independent Mortgage Corp. billion, an increase of 13% from 2022. billion, down 2% from 2022.

Mortgage 483

Mortgage Marketing Retail Lending 483

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. Full-service mortgage company Prosperity, a subsidiary of HomeServices of America , originated about $8.5 billion in June 2022 to $460 million in December 2022.

Lending 373

Lending Loan Officers Government Realtors 373