Warehouse lenders

The acquisition adds mortgage warehouse lending to Minnesota's Stearns Bank, the latest to offer the service during a multiyear period that has seen several new entrants and exits.

The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.

Thanh Roettele will help guide the Canadian bank's growth in the mortgage warehouse space in one of its latest moves aimed at the U.S. market.

Investors reacted negatively to New York Community Bancorp's divestiture of a $5 billion loan warehouse portfolio to JPMorgan Chase. The deal has triggered a debate about whether other banks might retreat from lending to nonbank home lenders.

Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.

A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

Lenders are brushing up on ways to minimize losses associated with the increasing costs to fund mortgage pipelines.

Nonbanks in home lending rely heavily on this type of funding and are carefully watching rules for depositories that offer it as the industry consolidates.

The company, funded by Calterra Capital and led by the former CEO of lender Avlis Partners, is launching the technology in a space that has limited vendor options.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

The moves include switching a $300 million servicing rights facility from failed depository Signature Bank to Flagstar Bank.

The migration of new financing for large Ginnie Mae issuers, from Credit Suisse to other firms, is a crucially important development for the mortgage market .

Other mortgage players this week have distanced themselves from the banking chaos with statements disclosing that they had no relationships with the failed companies.

NexBank will provide a line of credit of $200 million, $68 million lower than what it supplied in 2022.

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.

Despite that decline, the company notched its second-best quarterly earnings ever over that period.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

The company's planned two-week halt on originations turned into more than two months on hiatus because of coronavirus-related market disruptions.