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Navigating Volatile Markets: Strategies for Mortgage Lenders in 2023 Explore strategies for mortgage lenders to navigate volatile market conditions in 2023, focusing on interest rate adaptation, digital transformation, and customer-centric approaches.
Lending (1527)
Homeowners’ Equity Rises 9.4%
Homeowners with mortgages have seen their equity increase 9.4 percent year over year, a gain of almost $775.2 billion since the third quarter of 2017. Also, the average homeowner gained $12,400 in home equity between the third quarter of 2017 and the third quarter of 2018, according to the Home Equity Report from Corelogic. While… Read more...
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Leaders on Leadership: Kristy Fercho of Flagstar Bank
Name: Kristy Fercho Title: President of Mortgage Company: Flagstar Bank Number of Employees She Manages: 1,800 Mortgage Exec Since: 2001 Who Inspires Her: Her father, Willy Williams. In 1969, in the aftermath of the 1968 Mexico Olympics, a tumultuous era for Civil Rights, Dick Clausen, a forward-thinking athletic director at the University of Arizona,… Read more...
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Synovus Gains Regulators' Approval for Acquisition, More
Synovus Financial Corp. has received regulatory approval from the Federal Reserve and the Georgia Department of Banking and Finance to complete the merger with FCB Financial Holdings Inc., owner of Florida Community Bank. The merger ofFlorida Community Bank into Synovus is slated to be completed around Jan. 1, subject to the satisfaction of customary closing… Read more...
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Home Equity Declined In Q3
Home equity and tappable equity declined in the third quarter because the value of home prices declined in some of the most expensive housing markets in the U.S. Tappable equity is the amount available for homeowners to borrow against before hitting a maximum 80 percent combined loan-to-value ratio. “After seeing a significant slowdown in its… Read more...
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Higher Incomes Drive Up Home Purchase Sentiment Index
The Fannie Mae Home Purchase Sentiment Index rose 0.5 points to 86.2 in November. The increase can be attributed to an increase in the net share of Americans who reported a significant increase in income, which hit a new survey high after jumping five percentage points. The net share of Americans who said it is… Read more...
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Wells Faces Class Action Lawsuit
Two law firms have filed a class action lawsuit on behalf of borrowers who were wrongfully denied a mortgage modification under the federal Home Affordable Modification Program due to an alleged software error by Wells Fargo. The Gibbs Law Group and Paul LLP allege in the lawsuit that Wells Fargo failed to implement and maintain… Read more...
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New Penn To Receive Name Change, Rebrand
New Penn Financial LLC will operate under the name NewRez as of 2019. New Residential said the name change and decision to rebrand are indicative of New Penn’s close alignment with its parent company and deliver value to customers and strategic partnerships. New Residential acquired New Penn, a national lender known for innovative technology, in… Read more...
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Tight Market, Doesn't Deter Millennials
Millennials were not deterred from purchasing homes in October, despite a tight market and increased interest rates. According to the latest Ellie Mae Millenial Tracker, the average loan amount to Millennial borrowers for all closed loans was $189,686 in October, down from $192,005 in September, but than last October’s average of $186,567. When men were… Read more...
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Amerifirst Live with Black Knight's Mobile Tool
Amerifirst Home Mortgage has gone live with a mobile tool that delivers detailed, timely and personalized information to borrowers about the value of their homes and potential to build wealth from those real estate assets. Black Knight’s mobile solution, Servicing Digital, was launched in June and is a component of Black Knight's LoanSphere platform. Amerifirst… Read more...
Renters Warehouse To Acquire OwnAmerica
Renters Warehouse has agreed to acquire OwnAmerica, a single-family rental investment marketplace. OwnAmerica’s marketplace technology will allow real estate investors to buy and sell single-family rental properties with confidence. The transaction is scheduled to officially close Jan. 1, 2019. “As we strive to offer our clients better access to information, data and resources to make… Read more...
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