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

  • More young families opt to rent instead of buy

    Homeownership for families with young kids drops 14%
    More young families chose to rent instead of buy in the 10-year span from 2006-2016, according to a study by RENTCafé. Likely influenced by rising home prices, tough lending rules and a lack of entry-level homes, the number of families with minor children that owned a home decreased by 3.6 million.
    Read More
  • Foreclosure filing activity down nationwide

    But some local markets show an uptick
    Foreclosures in the first half of 2018 are far below the peak of 1.6 million in 2010, but 40% of local markets showed an uptick in foreclosure starts, prompting one expert to blame loosening lending standards.
    Read More
  • Mortgage tech company Alight rebrands as Riivos

    Plans expansion into more industries
    Alight, the parent of Alight Mortgage Solutions announced it is rebranding as Riivos. The tech company, which currently holds brands in the mortgage and mining industries, announced the rebranding reflects its success in these two industries, and its intentions to expand into life sciences and the oil and gas industries later this year.
    Read More
  • NAMB urges CFPB to re-examine policies

    Asks bureau to develop process to reclassify consumers’ submissions
    The National Association of Mortgage Brokers recently asked the Consumer Financial Protection Bureau to address immediate changes needed within the Consumer Complaint and Consumer Inquiry Handling Processes. NAMB states that the bureau falsely reported that consumers were experiencing extensive issues with mortgage brokers, but 90% of complaints were registered against lender and bank loan originators, not mortgage brokers.
    Read More
  • Online lenders struggle with cost of originations

    But investors grow more comfortable as market matures
    The cost to originate a mortgage increased significantly in 2018, and that increase now threatens even nonbank online lenders. A new study of online lenders shows a full 77% listed the cost of funding among their top three concerns, and 38% said it was their top concern.
    Read More
  • Citibank mortgage originations down 16%

    Despite a 13% QoQ increase in originations, the bank is down 16% YoY
    Citibank’s latest earnings release reveals that despite an overall uptick in retail banking, its mortgage originations took a 16% tumble year-over-year in the second quarter. This news comes after the bank’s posturing to re-enter the mortgage space earlier this year with the adoption of a new digital mortgage origination platform through Digital Risk and Black Knight.
    Read More
  • JPMorgan earnings increase despite drag from mortgage lending

    Earnings down slightly from Q1 but still up from 2017
    In the second quarter of 2018, JPMorgan Chase saw a decrease in its earnings from the previous quarter, but still managed to increase from the previous year despite a drag from its mortgage banking sector. JPMorgan Chairman and CEO Jamie Dimon says consumer and business sentiment led to good economic growth.
    Read More
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