The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Wilshire Bancorp acquires Bank of ManhattanÕ mortgage business

Falls in line with lender’s existing platform

Wilshire Bancorp (WIBC) announced it will acquire certain assets and assume certain liabilities of Bank of Manhattan’s mortgage lending division.

Los Angeles-based, Wilshire Bancorp is the parent company of Wilshire Bank, a community bank with a focus on commercial real estate lending and general commercial banking.

Under the agreement, Bank of Manhattan will honor all contractual commitments for mortgage loans that are currently in process.

“The assets and personnel we are adding from the Mortgage Lending Division will be a strong complement to our existing residential mortgage platform,” said Jae Whan Yoo, president and CEO of Wilshire Bancorp. “We look forward to providing a seamless transition for our new mortgage customers and delivering the highest quality of service.”

Bank of Manhattan’s Mortgage Lending Division was first formed in 2010 and primarily offered conforming, super-conforming and jumbo residential mortgage products, originating over $3 billion in residential loans since 2012.

“We are pleased to have found such a strong partner in Wilshire Bancorp that has the resources to manage and operate the mortgage business and service our clients,” said Rick Sowers, president and COO of Bank of Manhattan. “We, along with our merger partner Plaza Bank, are looking forward to intensifying our focus on our core competency – commercial and private banking.”

Most Popular Articles

These are the hottest housing markets in America

A housing market report from RE/MAX found that 36 of 51 metro areas had double-digit year over year sale price increases in August. Boise led the way.

Sep 17, 2021 By

Latest Articles

Housing permits hold the key for economic expansion

Housing permits, for me, is one of the most important housing and economic data lines we have in America. As long as housing permits are moving upward, not only is housing doing ok but the economic expansion is moving along nicely post-1996. HW+ Premium Content.

Sep 21, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please