Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

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Lending Mortgage Government Finance 400

Housing Wire

MARCH 21, 2024

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. increase.

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Lending Retail Contracts Construction 340

Housing Wire

MAY 17, 2024

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , Meanwhile, the Consumer Financial Protection Bureau (CFPB) is targeting “ junk fees” in mortgage origination and borrower-paid lender title policies.

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Lending Real Estate Agent Contracts Government 371

Housing Wire

FEBRUARY 6, 2024

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).

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Lending Mortgage Loan Officers Government 468

Housing Wire

MARCH 7, 2024

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.

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Retail Lending Renovations Construction 370

Housing Wire

NOVEMBER 7, 2023

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. Government residential mortgage was an exception, where standards remained basically unchanged. Responses were received from 62 domestic banks and 19 U.S.

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Lending Mortgage Loan Officers Government 416

Housing Wire

MAY 13, 2024

Rocket Mortgage , the third largest U.S. mortgage lender, has entered into a conciliation agreement with the U.S. Consequently, the borrowers got a mortgage from another lender on less favorable terms and higher interest rates. billion in mortgages in Q1 2024. Rocket originated $20.2

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Housing Wire

MARCH 18, 2022

Veteran mortgage executive Bill Dallas has left his position as president of Finance of America Mortgage amid larger changes to the Texas-based nonbank lender’s C-Suite and business lines. His exit was first reported by Inside Mortgage Finance. Presented by: Finance of America.

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Finance Mortgage Business Lending 462

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 It also brings a “reputational risk” when financing large amounts of loans originated from other firms.

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Lending Business Finance Mortgage 507

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

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Lending Government Mortgage Finance 353

Housing Wire

AUGUST 10, 2022

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group.

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Lending Human Resources Mortgage Loan Officers 398

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. from $490 billion in the second quarter.

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Lending Inventory Mortgage Finance 434

Appraisal Buzz

MAY 8, 2024

Paul Walker has been appointed chief financial officer at Planet Home Lending , a national mortgage lender, servicer, and asset manager. Before joining Planet Financial Group, Walker was chief financial officer at Mortgage Assets Management, LLC, and Supreme Lending, leading key fiscal and strategic planning initiatives.

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Lending Finance Clients Mortgage 195

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

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Lending Renovations Legal Real Estate 358

Housing Wire

AUGUST 28, 2023

Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported. The CDFI certification is a designation given by the U.S.

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Lending Design Finance Contracts 368

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.

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Lending Business Retail Client Relationships 365

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. decline from the first quarter, and a 9% decline from a year ago, according to Inside Mortgage Finance.

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Lending Business Finance Clients 379

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 the last quarter’s 28.6% from Q4 2022.

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Lending Realtors Retail Mortgage 354

Housing Wire

MARCH 3, 2022

Finance of America Companies on Wednesday told investors that it managed to increase in originations in 2021, but a more competitive landscape reduced margins and, consequently, the company’s net income. Finance of America funded $35.6 Margins in the mortgage business declined from 3.88% in 2020 to 2.86% in 2021.

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Finance Investors Mortgage Home Improvement 370

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. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

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Lending Finance Legal Contracts 368

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 in volume , according to Inside Mortgage Finance.

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Lending Business Finance Retail 370

Housing Wire

APRIL 11, 2024

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners.

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Lending Technology Design Buyers 298

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. The financing arrangement was also dated June 3, 2020. It originated a mortgage volume of $21.7 trillion in 2023.

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Lending Contracts Finance Mortgage 364

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.

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Lending Tools Inventory Renovations 375

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. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. “The Presented by: Selene Finance.

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Lending Finance Loan Officers Legal 360

Housing Wire

JULY 25, 2023

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. There’s about 8,500 fix-and-flip mortgage lenders in the U.S. Faes & Co has also been involved with building a short-term mortgage lender in Ireland. LendInvest has more than $4.7

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Finance Marketing Lending Inventory 338

Housing Wire

JULY 27, 2023

If implemented, the changes will affect the mortgage industry–and trade groups are already coming out in opposition to the new regulation. ” The changes would boost capital requirements for large banks’ residential mortgage portfolios compared to international standards. said risk sensitivity is a “double-edged sword.”

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Lending Mortgage Insurance Modernization 355

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?

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Brokerage Real Estate Lending Mortgage 392

Housing Wire

AUGUST 8, 2022

Mortgage rates trended down in July from their peak above 6% in June, but that wasn’t enough to spur mortgage lending activity. Lenders continue to face tightening profit margins as mortgage rates stay substantially higher than they were last year. The average purchase price among homes being financed fell by 2.2%

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Lending Mortgage Housing Market Home Value 369

Housing Wire

APRIL 25, 2022

Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. “He’s a results-oriented team-builder with a demonstrated ability to grow people and organizations,” said Lee Smith, president of Mortgage for Flagstar.

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Retail Lending Mortgage Real Estate 311

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It originated roughly $30 billion in mortgages last year across its retail, correspondent and wholesale businesses.

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Finance Lending Retail Renovations 370

Housing Wire

NOVEMBER 8, 2021

While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. Kathryn Amor, chief product officer at Finance of America Companies, spoke during the event’s mortgage purchase market panel about what Finance of America Reverse (FAR) beings to the table for the larger parent company.

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Finance Mortgage Lending Development 320

Appraisal Buzz

MARCH 29, 2024

Andy Insua has joined Planet Home Lending as regional sales manager for the Southeast. Insua has a diverse financial services background in consumer finance, commercial banking, and mortgage banking. The post Planet Home Lending Adds Andy Insua as Regional Sales Manager, Southeast appeared first on MortgageOrb.

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Lending Retail Finance Clients 195

Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.

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Insurance Mortgage Investors Finance 426

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

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Lending Appraisal Inspection Property Appraisal 539

Housing Wire

MAY 15, 2024

New York Community Bancorp , the parent of Flagstar Bank , said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. market share, according to Inside Mortgage Finance (IMF) estimates.

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Mortgage Lending Business Finance 376

Housing Wire

JUNE 13, 2023

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Inside Mortgage Finance (IMF) first reported on the topic.

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Lending Finance Insurance Investors 309