Items Tagged with 'mortgage lending'

ARTICLES

  • [Pulse] We must improve the QM standard, and this is why

    With the GSE patch set to expire in less than 2 years, we need reforms that will even the playing field
    The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA, VA, and USDA handbooks.
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  • Bank 34 abandoning mortgage lending

    Plans to shutter nine loan productions offices
    It’s getting harder and harder for smaller lenders to make money in the mortgage business. And those tough economic conditions are driving lenders out of the mortgage business altogether. Earlier this week, it was Live Well Financial that announced it was terminating its mortgage origination business. Now, for the second time in less than a week, another lender is abandoning their mortgage business as well.
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  • Cherry Creek Mortgage expands to two new states

    Opens new locations in Wyoming and Montana
    Cherry Creek Mortgage, one of Colorado's largest mortgage lenders, is expanding into a pair of new states. The lender announced this week that is now lending in Wyoming and Montana after opening offices in each of those states.
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  • loanDepot parts ways with top mortgage loan officer

    Lender confirms end of relationship with Brian Decker
    It’s been a rough April for top mortgage loan officer Brian Decker. On April 10, LendingLife reported that Decker voluntarily surrendered his California MLO license. Now, loanDepot confirms: "Brian Decker no longer represents loanDepot as of April 16, 2019."
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  • Capital Bank launches Capital Bank Home Loans

    Rebrands mortgage business from Church Street Mortgage
    Capital Bank, a Maryland-based bank that operates in and around the Washington, D.C., Northern Virginia, and Baltimore areas, is rebranding its mortgage business and launching Capital Bank Home Loans. Previously, the company’s mortgage operation was called Church Street Mortgage.
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  • JPMorgan Chase CFO Marianne Lake to lead bank’s consumer lending business

    Jennifer Piepszak becomes CFO
    JPMorgan Chase is making some changes to its senior leadership. The megabank announced Wednesday that it its current chief financial officer, Marianne Lake, will become the CEO of its consumer lending business, which includes mortgage lending, card services, and auto finance. Replacing Lake as CFO is Jennifer Piepszak, who is currently CEO of the bank’s card services business.
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  • Colony Bank buying PFB Mortgage

    Georgia bank expanding mortgage business
    Colony Bank, which operates 27 branches throughout Georgia, is set to grow its mortgage business, as the bank announced this week that it plans to acquire PFB Mortgage, the secondary market mortgage business of Planters First Bank. According to Colony Bank, PFB Mortgage originated more than $100 million in mortgages last year, and the bank expects the addition to help double its mortgage business in the future.
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  • Wells Fargo earnings top expectations weeks after CEO departs

    Biggest bank lender says mortgage pipeline swelled as rates dropped
    Wells Fargo, the biggest U.S. bank originator of mortgages, had its best first quarter in five years without much help from its home-loan business. Look for that to change next quarter, based on the mortgage pipeline Wells Fargo reported. The San Francisco bank said it had $32 billion of unclosed first-lien mortgages that will go on its books in the current quarter, compared with $24 billion it reported for the same period a year earlier.
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  • [Pulse] Zillow just became the mortgage and real estate industry’s biggest frenemy

    But if you don't make nice, you won't reap the rewards
    You can ignore or hate this all you want, but don't pretend lending and real estate isn't being disrupted like every other industry before it. And Zillow's determined to show everyone how it's done. Every disruptor follows the frenemy model where they both support and compete with industries they're disrupting. But those who engage will reap the rewards. So my advice? Ignore Zillow at your own risk.
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