Lending

Lending
News and information related to retail lending, wholesale and correspondent, and mortgage origination. General economic trends get worked in here, too; GDP, jobs, apps, rates.

ARTICLES

  • American Mortgage Service Co. and Eustis Mortgage plan to merge

    Two companies have combined 110 years of lending experience
    In the latest in a string of mergers and acquisitions in the mortgage lending space, American Mortgage Service Co. and Eustis Mortgage announced recently that they plan to merge. According to the companies, they plan to relaunch as a combined company later in the year.
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  • Gateway First Bank names Jeff Schmidt chief mortgage operations officer

    Announcement comes only a few months after merger with Farmers Exchange Bank
    Only a few months after merging with Farmers Exchange Bank, Gateway First Bank has appointed Jeff Schmidt as its chief mortgage operations officer. In this new role, he will manage underwriting, appraisal, closing and funding, post-closing and construction lending departments. Schmidt will also be working to expand of Gateway’s mortgage call centers based in Dallas and Frisco, Texas. 
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  • Fannie Mae lowers existing home forecast, says sales will decline this year

    Mortgage giant blames limited supply as builders stay on the sidelines
    Fannie Mae lowered its housing forecast on Friday, saying existing home sales will decrease this year compared with 2018. It was the first time the mortgage giant projected a 2019 decline. The projection comes at a time when mortgage rates are near three-year lows and housing optimism is at an all-time high. But, there’s something that trumps low rates and elevated optimism, the mortgage giant said: Supply shortage.
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  • HUD proposes changes to fair housing rules

    Rule changes would make it more difficult to prove housing discrimination
    The Department of Housing and Urban Development on Friday proposed making changes to the nation’s fair housing rules, a move that fair housing advocates claim is part of a Trump administration effort to “gut” federal protections against housing discrimination. The changes to the disparate impact rule will likely make it more difficult to prove unintentional housing discrimination. Click the headline for the full story.
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  • Fiserv’s new SaaS offering speeds the process between mortgage brokers and wholesalers

    Automating the review of underlying documents provides dramatic time savings
    For originators, Fiserv’s SaaS offering saves them 50% or more of the time they would normally spend on each file aggregating data and documents, reviewing and comparing the data, and tracking whether they have a complete package to send to the investor. For wholesalers, the time savings is even more dramatic.
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  • NAR: Cheap mortgage rates are improving home affordability

    Affordability jumped 10% in June from a year earlier as financing costs fell
    The cheapest financing in almost three years is making it easier for Americans to buy homes. The Housing Affordability Index from the National Association of Realtors increased to 151.9 in June from 137.7 a year earlier in June. That’s a jump of 10%. A higher reading means homes are getting more affordable, per NAR’s magic sauce that measures prices, incomes and financing costs.
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  • Real estate startup Flyhomes secures $141 million and promises to buy your house

    Proptech company offers "Trade Up" guarantee with Goldman Sachs-backed funding
    Flyhomes, the four-year-old startup that lets people make cash offer on homes while they work to secure a mortgage, announced a new round of funding and a new service for buyers on Thursday. The Seattle-based company said it raised $141 million in debt and equity that it’ll use, in part, to grow a new part of its business that targets trade-up buyers. Some of the funding comes from Goldman Sachs’ Genesis Capital.
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  • Forget waiting on Millennials, Gen Z is starting to buy homes

    Number of Gen Z mortgage borrowers doubled in one year
    Despite the general narrative surrounding the Millennial generation and home buying (that they would rather rent because they don’t want to be tied down by a mortgage), Millennials have officially entered the housing market. And now that the housing market is done waiting for Millennials, the focus shifts to what’s next, or more aptly, who’s next. Generation Z is who’s next, and there’s good news for the housing economy on that front, because new data from TransUnion shows that home buying among Gen Z is skyrocketing.
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  • Former MBA President David Stevens joins George Mason Mortgage board as advisor

    Stevens adds another board of directors gig
    Since stepping down as president and CEO of the MBA in September 2018, David Stevens has continued to be involved in the housing business, signing on to serve in advisory roles for three different companies. Stevens’ post-MBA gigs were reduced to two earlier this year when he abruptly resigned from the board of Radian just three weeks after initially joining. But now, Stevens' tally of advisor roles is back up to three.
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Paulina Gonzalez

Paulina Gonzalez

Paulina Gonzalez is the executive director of the California Reinvestment Coalition, which advocates for the right of low-income communities and communities of color to have fair and equal access to banking and other financial services. CRC has a membership of over 300 nonprofit organizations and public agencies across the State. Follow her on Twitter @calreinvest
Joe Markham

Joe Markham

Joe Markham is the founder and CEO of Block66, a blockchain-powered platform that increases transparency, streamlines capital deployment and overcomes geographical lending restrictions in the mortgage industry
Travis Kniffen

Travis Kniffen

Travis Kniffen is the director of business development, partnerships at Roostify.