How local lenders can support homeownership in today’s housing market

In the quest to extend homeownership to everyday Americans, local lenders—a segment that includes credit unions, community banks and independent mortgage banks serving communities across the country—play a vital role. The only banking presence in one in five U.S. counties, local lenders help millions of … Continue readingHow local lenders can support homeownership in today’s housing market

BayFirst National Bank withdraws from residential mortgage business

Higher mortgage rates, lower volume and fiercer competition forced BayFirst National Bank to shut down its residential mortgage business and lay off staffers. BayFirst Financial Corp., the parent company of BayFirst National Bank, announced last week that its board of directors started the process of … Continue readingBayFirst National Bank withdraws from residential mortgage business

Opinion: Customer service is a lender’s greatest strength

These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. Applications dropped 7% in the same period. The national … Continue readingOpinion: Customer service is a lender’s greatest strength

Federal judge rules in favor of FHFA on net worth sweeps

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, … Continue readingFederal judge rules in favor of FHFA on net worth sweeps

The Real Brokerage to acquire LemonBrew Lending

Publicly traded real estate firm The Real Brokerage has struck an agreement to acquire the mortgage brokerage arm of real estate and mortgage technology company LemonBrew. The Real Brokerage, headquartered in Ontario, Canada, will pay $1.25 million to acquire the tech-enabled home loan platform, which … Continue readingThe Real Brokerage to acquire LemonBrew Lending

Thrive Mortgage to acquire American Mortgage Service Company

Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably … Continue readingThrive Mortgage to acquire American Mortgage Service Company

LOs, senior managers among the 300+ cut in latest Caliber layoff

Caliber Home Loans, owned by publicly-traded Rithm Capital, issued pink slips to at least 300 employees earlier this week as soaring mortgage rates thin out already-declining origination volume. The lender has made at least four rounds of layoffs this year, multiple sources told HousingWire.  An … Continue readingLOs, senior managers among the 300+ cut in latest Caliber layoff

Opinion: CRA doesn’t work for banks or IMBs

Last year, in a Housing Wire op-ed, Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs).  The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by … Continue readingOpinion: CRA doesn’t work for banks or IMBs