Warehouse lenders

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.

Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.

Impac Mortgage temporarily shut lending operations and furloughed 333 workers due to market turmoil tied to the novel coronavirus.

Impac Mortgage Holdings suspended all mortgage lending activity for a two-week period effective March 31, citing liquidity constraints at the company's secondary market counterparties as a result of the coronavirus.

Two Harbors, a real estate investment trust, sold the bulk of its nonagency mortgage-backed securities portfolio to head off margin calls and refocus on its more favorable agency-MBS investments.

Flagstar Bancorp, one of the nation's biggest lenders to mortgage providers, has stopped funding most new home loans without government backing.

Flasgstar Bancorp's mixed results in its fourth-quarter earnings report are a sign strategic shifts it made to make its earnings less volatile are working.

Provident Bank in Amesbury, Mass., has entered warehouse lending after buying a business from People’s United Financial in Bridgeport, Conn.

Ginnie Mae is requesting feedback on a new proposed stress test for mortgage-backed securities issuers that would take into account the government agency's increased nonbank counterparty risk.

Stearns Holdings and certain subsidiaries have filed for Chapter 11 bankruptcy as part of a restructuring agreement that could reduce debt, increase Blackstone's stake in the company and preserve jobs.