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The crucial role of community lending in our nation’s economy

Housing Wire

But theres one thing that politicians and business leaders of all stripes and shapes can agree upon community lenders are the backbone of our nations economy. A key element for addressing these issues is greater access to credit for consumers and businesses, which is dependent on access to inexpensive liquidity for financial institutions.

Lending 354
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Dunmor CEO Franck Ruimy on Newfi partnership and the residential investment lending sector

Housing Wire

Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. Apollo has 16 lending platforms in the U.S. The last two years had a negative impact on our business as well.

Lending 316
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loanDepot eyes purchase business in the South with new mortgage JV

Housing Wire

loanDepot has signed a new joint venture agreement with Smith Douglas Homes , a top-50 homebuilder with a solid book of business in the Southern states. Smith Douglas Homes sold 2,297 homes in 2023. loanDepot has a variety of partnerships with homebuilders across the country.

Business 287
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Rate hires Connie Lindsay as SVP of mortgage lending in Washington

Housing Wire

The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. The company has displayed a trend of tapping mortgage industry veterans to lead and innovate key business verticals. The lender has 850-plus branches across all 50 states and the District of Columbia.

Lending 396
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The Future of Mortgage Lending: Women Empowering Women

Appraisal Buzz

While that is an indicator that have made some healthy inroads into the business, those roles are traditionally lower paying than the more lucrative loan officer and executive roles and are usually the first to experience a layoff when business contracts. Women are proving key to helping the industry reimagine its future.

Lending 221
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Stronghill Capital shuts down consumer, correspondent lending

Housing Wire

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 477
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Better.com reports 400% growth for HELOC business

Housing Wire

Digital homeownership company Better.com on Thursday announced a record 400% growth in its home equity line of credit ( HELOC ) and home equity loan businesses. In a press release, the company announced that its HELOC business channel increased its revenue from $15 million per month in January 2024 to $60 million per month by October 2024.

Business 248