Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

InvestmentsMortgageReal Estate

South State Bank commits $100 million to low-income, minority borrowers

Will seek eligible borrowers in North Carolina, South Carolina, Georgia, Virginia

South Carolina-based South State Bank announced Monday that it is launching a mortgage lending initiative, pledging $100 million to consumers located in low-to-moderate income and minority areas in North Carolina, South Carolina, Georgia, and Virginia.

According to the bank, the $100 million commitment is part of the bank’s merger with Park Sterling Bank, which has more than 50 branches in North Carolina, South Carolina, Georgia, and Virginia.

“We are well underway with the planning for our upcoming merger with Park Sterling,” Tom Ledbetter, president of the mortgage division for South State Bank, said of the merger that was announced in late April.

“As South State expands, we remain committed to assisting low to moderate income and minority communities,” Ledbetter continued. “This new lending commitment will allow us to offer our existing services and deepen relationships with customers and communities throughout the newly combined footprint.”

In a release, South State said that it will begin an “outreach effort” later this year to target eligible borrowers. Then, in the late fourth quarter of 2017, South State will begin originating 1-4 family mortgage loans as part of this initiative, the bank said.

Most Popular Articles

Are we back to a normal housing market?

Favorable demographics should keep the housing market ticking. But watch for home prices escalating out of control and rates moving up sharply, writes columnist Logan Mohtashami. HW+ Premium Content

Jul 26, 2021 By

Latest Articles

Blend launches housing equity program

Blend has launched Blend Impact, a program focused on increasing equity in housing and financial services with Blend’s nonprofit partners.

Jul 28, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please