The Bank of Glen Burnie, a Maryland-based depository, has acquired VA Wholesale Mortgage, a Virginia Beach, Virginia-based originator, with an office in Jacksonville, Florida. Terms of the deal were not disclosed. A check of the NMLS Consumer Access page has Virginia Wholesale Mortgage, how the Bank of Glen Burnie’s second quarter Securities and Exchange Commission […]
VA Wholesale to operate under Bank of Glen Burnie Read More »
ICE Mortgage Technology is putting off the planned sunset of the Encompass SDK system, according to a memo provided by the company to National Mortgage News. SDK is shorthand for software development kit. It, along with certain other legacy systems, were supposed to go away on Oct. 31. ICE first announced the transition in September
ICE Mortgage Technology pushes SDK sunset to end of 2026 Read More »
Since taking on responsibility for all Selene Holdings’ business lines earlier this year, Chief Strategy and Growth Officer Doug Whittemore has been focused on product development and scale by drawing on his 25 years of bank and nondepository experience. Whittemore — who previously led teams at U.S. Bank, JPMorgan Chase, Mr. Cooper and Citibank —
Selene Holdings’ Doug Whittemore on scale, cost, niche loans Read More »
Home lending credit reversed course following a one-month dip, with availability returning to the upside even as conforming product offerings declined in July, according to the Mortgage Bankers Association. The MBA’s credit availability index edged up 0.2% month over month to a reading of 103.9. The score rose from 103.7 in June, which was the
Jumbos, ARMs drive uptick in credit availability Read More »
Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette &
Private MI market share gaps widen in Q2 Read More »
Homeowners are seeing record levels of equity in their homes, and many are eager to use it. Mortgage originations hit their highest levels since 2022 driven in large part by purchases and cash-out refinances, according to Intercontinental Exchange’s August Mortgage Monitor. Cash-out loans made up 59% of all refinances, with borrowers pulling an average of
Homeowners tap record equity as rates ease Read More »
Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing
Why there’s renewed interest in financing factory-built homes Read More »
A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the
Blend ‘turns corner’ and reduces GAAP losses in 2Q25 Read More »
In an interview with National Mortgage News, former Federal Home Loan Bank of Chicago executive Steve Thomas complained about the current lack of product development in the mortgage business. That is likely because of a reluctance among lenders to create those unique programs outside of the agency and government spectrums especially since Monday morning quarterbacks
Breaking the mold: new mortgage products emerge Read More »
Home equity investment firm Unlock rolled out its home equity investment product in Hawaii, Idaho, Montana, New Hampshire and Wyoming, it announced this week. The Tempe, Arizona-based company had added four Central U.S. states earlier this year and now offers its product in 24 states, nearly half the country. “We’re now the first provider to
HEI platform Unlock expands into five new states Read More »