Housing Wire

JUNE 25, 2024

Anaheim, California -based nonbank Change Lending on Tuesday announced the hiring of Madison Simm as its new chief financial officer. Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. I am thrilled to join Change Lending as CFO,” Simm said.

Lending 388

Lending Renovations Real Estate Investors 388

Housing Wire

AUGUST 16, 2024

housing market may have slowed during the second quarter of the year, investors did not take their foot off the gas. The number of home purchases by investors rose 3.4% during the same period, which Redfin attributed to elevated mortgage rates and home prices. Although the U.S. In comparison, total U.S. home purchases fell 1.9%

Investors 469

Investors Tenants Real Estate Property Taxes 469

Housing Wire

NOVEMBER 26, 2024

Mortgage infrastructure provider Pylon received a minority strategic investment from Citi and closed a deal to sell mortgages on its platform through the bank’s mortgage trading desk, the parties announced on Tuesday. Pylon, founded in 2022, has Peter Thiel, the co-founder and former CEO of PayPal , among its investors.

Investing 393

Investing Mortgage Technology Lending 393

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 450

Lending Mortgage Marketing Technology 450

Housing Wire

SEPTEMBER 30, 2024

According to a recent report by Forbes, over half of all real estate investors are now turning to private lenders. The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5

Lending 430

Lending Technology Client Relationships Tools 430

Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). These disclosures include the annual percentage rate and payment schedules.

Contracts 367

Contracts Investors Sellers Lending 367

Housing Wire

SEPTEMBER 26, 2023

Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.

Lending 436

Lending Technology Design Investors 436

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 449

Lending Renovations Legal Real Estate 449

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.

Lending 370

Lending Design Finance Contracts 370

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 420

Real Estate Brokerage Lending Mortgage 420

Housing Wire

MAY 31, 2024

A new report from the Government Accountability Office (GAO) concluded that while institutional investors may have contributed to rising home prices since 2009, the actual impact they have had on homeownership opportunities is more difficult to assess.

Investors 459

Investors Inventory Government Construction 459

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 460

Lending Valuation Technology Retail 460

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

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 398

Lending Business Retail Client Relationships 398

Appraisal Buzz

NOVEMBER 12, 2024

Despite a September interest rate cut by the Federal Reserve , the average 30-year mortgage rate has been on the rise during Q4—continued high rates, combined with steadily rising housing prices , have put a strain on mortgage customers, according to the latest J.D. Mortgage Origination Satisfaction Study. Power 2024 U.S.

Mortgage 397

Mortgage Lending Retail Finance 397

Housing Wire

SEPTEMBER 26, 2023

Cooper was completed in August, Home Point Capital agreed to settle for $5 million a class action lawsuit filed in 2021 by investors claiming the company made false and misleading statements related to its initial public offering (IPO). and its top executives, including former CEO Willian Newman and former CFO Mark Elbaum.

Investors 435

Investors Lending Law Business 435

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 crypto-related deposits. Securities and Exchange Commission filing.

Lending 419

Lending Mortgage Investors Clients 419

Housing Wire

MARCH 7, 2024

And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. My guess is we’ll do 10 or 11 deals this year in the $5.5

Investors 449

Investors Government Mortgage Investing 449

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. He previously managed a portfolio of business-purpose loans and nonqualified mortgages with a value of more than $2 billion.

Lending 346

Lending Business Real Estate Finance 346

Housing Wire

SEPTEMBER 14, 2020

In fact, the changes we’ve seen since the advent of the global pandemic are significant enough to serve as a catalyst that will drive all lending digital. The trends and lending requirements I’ve highlighted below became important long before the coronavirus made it to the U.S. Peering into the future of lending.

Lending 489

Lending Mortgage Technology Business 489

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. In the fourth quarter, however, mortgage originations declined 22% compared to Q4 2020 and 7% in comparison to the Q3 2021, to $6.89

Finance 398

Finance Investors Mortgage Home Improvement 398

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officers 450

Loan Officers Mortgage Retail Lending 450

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. Moreover, the prolonged high-interest-rate environment is leading to lower refinancing rates, which extends the duration of cash flows that investors can expect from these assets.

Insurance 488

Insurance Mortgage Investors Finance 488

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. Cagney’s attempt to bring blockchain technology to mortgage lending at scale dates back to August 2021.

Technology 370

Technology Lending Housing Market Investors 370

Housing Wire

APRIL 8, 2021

As we enter the second quarter of 2021, it’s time for the mortgage industry to reflect on the past 12 months and think about how to plan for the same period ahead. Low mortgage rates, driven by quantitative easing by the Federal Reserve helped fuel a boom in both mortgage refinancing and purchases, making 2020 the second-best year in U.S.

Development 450

Development Lending Mortgage Marketing 450

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. “For

Lending 397

Lending Business Government Design 397

Housing Wire

MARCH 26, 2024

Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We In recent congressional testimony , Mortgage Bankers Association (MBA) chief economist Mike Fratantoni pointed out that the housing market is now extremely supply challenged.

Investors 483

Investors Marketing Inventory Real Estate 483

Housing Wire

OCTOBER 18, 2024

The mortgage industry today demands speed, accuracy, and satisfied customers. ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. This digital mortgage setup focuses on turning manual tasks into automated ones.

Modernization 441

Modernization Technology Mortgage Marketing 441

Housing Wire

OCTOBER 18, 2024

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. Condos in Florida have to be next level,” said one retail lending executive. “We have an investor who won’t do any deals in Florida or near major bodies of water.”

Marketing 525

Marketing Mortgage Finance Inventory 525

Housing Wire

DECEMBER 5, 2023

When individual mortgages are originated by lenders like banks or credit unions , they may bundle groups of these mortgages together into financial vehicles called mortgage-backed securities (MBS) that are then sold to investors on a secondary market. If too many mortgages default, the MBS can lose significant value.

Technology 460

Technology Mortgage Investors Lending 460

Housing Wire

MAY 11, 2022

.” But how does an all-cash offer benefit a mortgage lender? Dubbed the “Homepoint Cash Compete,” the fintech platform provides home shoppers with the cash needed to compete with investors and other more attractive offers, according to the lender. Planet Home Lending entered into a $2.5

Lending 398

Lending Real Estate Agent Investors Finance 398

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 395

Lending Loan Officers Mortgage Investors 395

Housing Wire

JANUARY 27, 2023

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. After the 2008 mortgage meltdown, JVM let go of all its loan originators and trained its employees to target the jumbo loan market in the San Francisco Bay area instead. I thought it was sparse.

Lending 420

Lending Real Estate Agent Loan Officers Retail 420

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. These loans are also highly secured and collateralized.

Lending 369

Lending Finance Insurance Investors 369

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. of the company and there were no outside investors. billion in mortgage loans in 2023, according to Kortas, easily more than any other brokerage.

Mortgage 469

Mortgage Brokerage Loan Officers Business 469

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023.

Mortgage 419

Mortgage Landlords Loan Officers Legal 419

Housing Wire

SEPTEMBER 13, 2022

Lending standards tightened in August amid a worsening economic outlook and signs of cooling in home-price growth. The mortgage credit availability index (MCAI) fell marginally by 0.5% in August from the previous month, according to the Mortgage Bankers Association (MBA). billion in 2022 from last year’s $4.4

Lending 370

Lending Government Mortgage Investors 370