-
Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.
Lending (1549)
Trade Groups Urge Senate To Confirm CFPB Nominee
[caption id="attachment_7663" align="alignleft" width="150"] Kathleen Kraninger[/caption] The National Association of Realtors and over 20 trade groups from across the real estate industry, have sent a letter to Senate leadership and the Senate Committee on Banking, Housing and Urban Affairs urging confirmation of Kathleen Kraninger as director of the Consumer Financial Protection Bureau. The Senate is… Read more...
Bankers Feel Angst over Dems’ House Takeover
Bankers are worried about the effect of a Democratic takeover of the House. Seventy-three percent of respondents saw a Democratic takeover of the House of Representatives to be a serious concern for their bank, according to the Bank Executive Business Outlook Survey from the Promontory Interfinancial Network. Other findings from the survey demonstrate: Seventy-three percent… Read more...
Tagged under
FHLB Awards $14M in Housing Grants
The Federal Home Loan Bank of Dallas in partnership with member financial institutions has awarded $14 million in Affordable Housing Program grants to 29 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 1,853 housing units. FHLB Dallas annually returns 10 percent of its profits… Read more...
Tagged under
Wells Settles Civil Suit with Blackrock, Pimco, Others
Wells Fargo Bank has settled two lawsuits with BlackRock, Pacific Investment Management Co. LLC and other plaintiffs over the bank’s role as trustee for residential mortgage-backed securities trusts. The bank will pay $43 million and denies the claims in the litigation, under the terms of the agreement. Separate from the settlement amount the bank is… Read more...
Tagged under
DOJ Files Suit Against UBS, Alleging Fraud
The Department of Justice Department has filed a civil complaint against UBS and its U.S. affiliates, alleging the sale of residential mortgage-backed securities to investors was fraudulent. UBS misled investors about the quality of billions of dollars in subprime and Alt-A mortgage loans backing 40 RMBS deals, between 2006 to 2007, the years just prior… Read more...
Tagged under
NRL Mortgage Deploys Forecasting Tool
NRL Mortgage has deployed Riivos Mortgage Lending's forecasting, planning and reporting application to help them analyze and capitalize on growth opportunities. NRL Mortgage is majority owned by St. Christopher's Holdings LLC, a privately owned holding company based in Houston. The technology integrates key, disparate mortgage lending data and systems, LOS, payroll, hedging execution systems and… Read more...
Tagged under
BNY Appoints CTO
BNY Mellon has appointed Sabet Elias in a new role as chief technology officer. Elias reports to Bridget Engle, senior executive vice president and CIO. He will join the firm's Technology Executive Committee and be based in New York, effective today. "Sabet is a talented technologist and brings to the bank a solid track record… Read more...
Tagged under
Mr. Cooper To Acquire Pacific Union
Mr. Cooper Group Inc. will acquire Pacific Union Financial LLC, a mortgage lender based in Dallas. “This acquisition allows us to expand our servicing portfolio by welcoming more than 120,000 customers and increases our mortgage lending volume and capabilities,” said Jay Bray, Chairman and CEO of Mr. Cooper Group Inc. “The Pacific Union team, customers… Read more...
AHP Raises $50 Million Foreclosure Fighting Fund
AHP Servicing, a specialty servicer of past due residential mortgages, has inaugurated a $50 million offering designed to help keep homeowners out of foreclosure. AHP and other financial organizations purchases loans that have fallen behind in payments but could be restructured or settled—using crowd sourced funding. It then works with home owners so they can… Read more...
Tagged under
Startup Targets Home Buying Millennials
A home-buying platform is targeting technology-loving millennials since most start the search for a home online. Consumers aged 36 and younger represent the biggest share of homebuyers and made up 34% of all purchases last year, according to the National Association of Realtors. As they continue to buy homes, Millennials will expect digital technology to… Read more...
Tagged under
MOST READ STORIES
Fast,Easy & Free
