#mortgage-lending

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Looser lending rules are not driving up house prices, Central Bank says

Mortgage lending isn't responsible for the rise in property prices; income growth and supply shortages are to blame.
#leadership

Rate's reverse mortgage leader on product specialization and growth

Rate's reverse mortgage division is experiencing growth under new leadership, driven by strategic insights into the traditional mortgage market.

Planet Home Lending hires Candice McNaught as retail SVP

Candice McNaught joins Planet Home Lending as SVP, enhancing business development and focusing on branch success in the retail mortgage sector.

Guaranteed Rate Affinity appoints new mortgage lending VP

Mark Rawls appointed as VP of mortgage lending at Guaranteed Rate Affinity, focusing on expanding homebuyer services in North Carolina.

Rate's reverse mortgage leader on product specialization and growth

Rate's reverse mortgage division is experiencing growth under new leadership, driven by strategic insights into the traditional mortgage market.

Planet Home Lending hires Candice McNaught as retail SVP

Candice McNaught joins Planet Home Lending as SVP, enhancing business development and focusing on branch success in the retail mortgage sector.

Guaranteed Rate Affinity appoints new mortgage lending VP

Mark Rawls appointed as VP of mortgage lending at Guaranteed Rate Affinity, focusing on expanding homebuyer services in North Carolina.
moreleadership
#fitch-ratings

Planet Financial Group raises $475M in unsecured debt offering

Planet Financial Group successfully raised $475 million in senior unsecured notes to manage debt despite a decline in mortgage originations.

UWM to issue $500 in unsecured debt

UWM Holdings Corp. is raising $500 million in debt through a private offering to refinance existing debt and for corporate purposes.

Planet Financial Group raises $475M in unsecured debt offering

Planet Financial Group successfully raised $475 million in senior unsecured notes to manage debt despite a decline in mortgage originations.

UWM to issue $500 in unsecured debt

UWM Holdings Corp. is raising $500 million in debt through a private offering to refinance existing debt and for corporate purposes.
morefitch-ratings

Central Bank says its mortgage controls are working

Lending practices are more cautious, focusing on loan-to-income and loan-to-value limits, with household debt repayment levels stable.

Credit report costs to rise at least 20% in 2025 for mortgage lenders

Lenders anticipate a significant rise in credit reporting costs driven by FICO's price increase and projected changes from credit bureaus.
#uk-housing-market

Warning over common building material tanking UK home values

Spray foam insulation is causing significant issues for homeowners, including declining mortgage options and potential decreases in property resale values.

Two thirds of first-time buyers get property in joint names, says mortgage giant

63% of first-time buyer mortgages are taken out jointly
Average property values for first-time buyers are 6.7 times the typical UK salary

Warning over common building material tanking UK home values

Spray foam insulation is causing significant issues for homeowners, including declining mortgage options and potential decreases in property resale values.

Two thirds of first-time buyers get property in joint names, says mortgage giant

63% of first-time buyer mortgages are taken out jointly
Average property values for first-time buyers are 6.7 times the typical UK salary
moreuk-housing-market
#consumer-protection

UMortgage CEO: "Our veterans deserve better," following the news of recent veteran lending malpractices

Veterans are often exploited by lenders through inflated fees and high interest rates, but alternatives like UMortgage are committed to better practices.

LoanSnap troubles continue as California revokes its lender license

LoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.

UMortgage CEO: "Our veterans deserve better," following the news of recent veteran lending malpractices

Veterans are often exploited by lenders through inflated fees and high interest rates, but alternatives like UMortgage are committed to better practices.

LoanSnap troubles continue as California revokes its lender license

LoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.
moreconsumer-protection
#financial-services

MBA, other stakeholders team up to address racial homeownership gap

The CONVERGENCE Collaborative aims to close the racial homeownership gap through collective action among key industry stakeholders.

Scotiabank hires JPMorgan team to lead new mortgage biz

Scotiabank is expanding into mortgage capital markets by hiring JPMorgan Chase executives.

Luminate Home Loans to close NEO division

Luminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.

MBA, other stakeholders team up to address racial homeownership gap

The CONVERGENCE Collaborative aims to close the racial homeownership gap through collective action among key industry stakeholders.

Scotiabank hires JPMorgan team to lead new mortgage biz

Scotiabank is expanding into mortgage capital markets by hiring JPMorgan Chase executives.

Luminate Home Loans to close NEO division

Luminate Home Loans is closing its NEO division to focus on integrating mortgage lending into its banking services.
morefinancial-services
#discrimination

DOJ Accuses National Mortgage Lender of Redlining in Alabama

Ongoing redlining allegations against Fairway Independent Mortgage Corp. spotlight persistent racial discrimination in mortgage lending.
Fairway denies allegations while agreeing to settle and support affordable lending initiatives.

Mortgage underwriting algorithm at heart of Wells Fargo's racial disparity lawsuit

Plaintiffs claim Enhanced Credit Score discriminated against Black and Latino applicants by sending them to higher-risk classes, leading to higher denial rates.

Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Fairway Independent Mortgage Corp. settles allegations of lending discrimination, agreeing to pay $1.9 million and invest $7 million in majority-Black neighborhoods.

DOJ Accuses National Mortgage Lender of Redlining in Alabama

Ongoing redlining allegations against Fairway Independent Mortgage Corp. spotlight persistent racial discrimination in mortgage lending.
Fairway denies allegations while agreeing to settle and support affordable lending initiatives.

Mortgage underwriting algorithm at heart of Wells Fargo's racial disparity lawsuit

Plaintiffs claim Enhanced Credit Score discriminated against Black and Latino applicants by sending them to higher-risk classes, leading to higher denial rates.

Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Fairway Independent Mortgage Corp. settles allegations of lending discrimination, agreeing to pay $1.9 million and invest $7 million in majority-Black neighborhoods.
morediscrimination
#wells-fargo

Fed rate cut brings more mortgage biz to JPMorgan, Wells Fargo. But is it sustainable?

Mortgage lending increased for JPMorgan and Wells Fargo due to recent rate cuts, but future stability remains uncertain.

Wells Fargo extends $5,000 closing cost credit

Wells Fargo extends $5,000 closing cost program to 16 new metro areas, supporting low- and moderate-income families.

Fed rate cut brings more mortgage biz to JPMorgan, Wells Fargo. But is it sustainable?

Mortgage lending increased for JPMorgan and Wells Fargo due to recent rate cuts, but future stability remains uncertain.

Wells Fargo extends $5,000 closing cost credit

Wells Fargo extends $5,000 closing cost program to 16 new metro areas, supporting low- and moderate-income families.
morewells-fargo

FHA reiterates loss-mitigation options as Helene devastation continues

FHA reinforces loss-mitigation options for mortgage lenders and borrowers in major disaster areas.

UWM scores a win in antitrust lawsuit against Okavage Group - HousingWire

UWM won a legal battle regarding its All-In initiative, which restricts brokers from working with other competitors.

California-based Premier Plus Lending adds reverse mortgage division

Premier Plus Lending is launching a new division focused on reverse mortgages and home equity solutions for seniors.
#loandepot

loanDepot promotes Viviana Abarca to lead mortgage lending operations

Viviana Abarca promoted to managing director at loanDepot.

loanDepot hires military advocate Bryan Bergjans

loanDepot aims to enhance its VA lending capabilities with the hiring of military advocate Bryan Bergjans.

loanDepot promotes Viviana Abarca to lead mortgage lending operations

Viviana Abarca promoted to managing director at loanDepot.

loanDepot hires military advocate Bryan Bergjans

loanDepot aims to enhance its VA lending capabilities with the hiring of military advocate Bryan Bergjans.
moreloandepot

UWM launches BrokerX program to help train new originators

UWM's BrokerX program aims to train new mortgage originators efficiently and enhance wholesale lending growth.
The program offers structured licensing preparation without the need for individual broker training resources.
#real-estate

Britain's first-time buyer hotspots revealed as Slough sees boost

Manchester has emerged as Britain's leading hotspot for first-time buyers, driven by affordable housing and economic growth.

reAlpha gets into the mortgage brokerage biz, acquires Be My Neighbor

reAlpha Tech Corp. enhances its services by acquiring mortgage brokerage Be My Neighbor, aiming to develop a comprehensive commission-free homebuying platform.

Britain's first-time buyer hotspots revealed as Slough sees boost

Manchester has emerged as Britain's leading hotspot for first-time buyers, driven by affordable housing and economic growth.

reAlpha gets into the mortgage brokerage biz, acquires Be My Neighbor

reAlpha Tech Corp. enhances its services by acquiring mortgage brokerage Be My Neighbor, aiming to develop a comprehensive commission-free homebuying platform.
morereal-estate

UK's largest lender to allow first-time buyers to borrow 5.5 times their salary

House price growth in the UK has reached its fastest rate since December 2022, with an annual increase of 2.4%.
Lloyd's offers a new mortgage scheme for first-time buyers, enabling loans up to 5.5 times income.

CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refis

NewDay USA misled borrowers about cash-out refinance loans, leading to penalties and consumer backlash.
#financial-impact

EPO fees are back. How mortgage lenders can avoid them

EPO penalties pose significant financial challenges for mortgage lenders, affecting commissions and profits, especially for smaller companies.

Republic First Bank closes, sells to FultonBank

Fulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.
The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.
Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank.

EPO fees are back. How mortgage lenders can avoid them

EPO penalties pose significant financial challenges for mortgage lenders, affecting commissions and profits, especially for smaller companies.

Republic First Bank closes, sells to FultonBank

Fulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.
The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.
Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank.
morefinancial-impact

Planet Home Lending to acquire retail division of Axia Home Loans

Planet Home Lending is acquiring Axia Home Loans' retail division assets.

Fintech Maxwell launches POS feature that offers tailored workflows for lenders

Maxwell's POS feature, Blueprint Builder, offers tailored workflows and over 60 third-party integrations for mortgage lending teams.
Lenders can customize workflows and business rules for various mortgage products and channels using Maxwell's Blueprint Builder.

January Demo Day: Smart Underwrite

Real-time automation of underwriting functions can drive immediate loan approvals.
Smart Underwrite integrates seamlessly with a lender's loan origination platform.

Q1 2024 mortgage lending activity declines to near-record low

Mortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024, with tight inventory and high mortgage rates being main culprits.

Ascent Developer Solutions launches to serve construction loan needs

Ascent Developer Solutions launched with Elliott Investment Management equity infusion, focusing on customized financing solutions for developers and investors.

CFPB, FHFA release updated mortgage originations survey data

The NSMO data provides updated mortgage performance and consumer credit information from 2013 to 2021, highlighting insights into borrower experiences and market perceptions.
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