Starling Bank turns a profit on mortgage loan growth

Starling Bank turns a profit on mortgage loan growth

British digital bank Starling has reported its first annual profit after breaking into the mortgage market with a series of portfolio acquisitions. The app-based bank posted a pre-tax profit of £32.1mn for the year to the end of March, reversing a £13.7mn loss in the same period a year earlier. Revenues were boosted by the

Mortgage demand hits 22-year low as loan applications continue to drop

Mortgage demand hits 22-year low as loan applications continue to drop

Tom Rood, SitusAMC Managing Director, discusses the increased costs of building a home and buying in the current real estate market Mortgage applications decreased last week, the third week in a row, as they now sit at the lowest level since 2000, according to a new survey. On Wednesday, the Mortgage Bankers Association (MBA) released

Home loan size retreats from record as mortgage application demand cools

Home loan size retreats from record as mortgage application demand cools

Co-founder of Key Advisors Group LLC Eddie Ghabour analyzes the U.S. markets and economy, saying that they have yet to ‘bottom out’ on ‘Varney & Co.’ The average size of a home purchase loan has pulled back from its record high as demand for mortgage applications fell for the second straight week.  According to the

Deutsche Bank and Home Credit close ESG-linked loan focusing on financial inclusion and literacy

Deutsche Bank and Home Credit close ESG-linked loan focusing on financial inclusion and literacy

Deutsche Bank and PT Home Credit Indonesia (“Home Credit”), a global consumer finance company today announced they have closed a IDR156 billion (US$10.4 million) ESG-linked loan facility that focuses on performance targets linked to ESG principles. This is Home Credit’s first ESG-linked loan in Indonesia, as it seeks to deliver sustainable financial services and inclusive

Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Register now for FREE unlimited access to Reuters.com Register July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to cover potential loan losses, while its

First-Time Homebuyers, These 8 Loan Programs Can Save You Money

First-Time Homebuyers, These 8 Loan Programs Can Save You Money

Buying your first house can feel like an overwhelming process — but it doesn’t have to be. Our guide to loan programs for first-time homebuyers will help you understand the myriad steps involved in the home-buying process. There’s a lot to consider — from figuring out the best mortgage type to partnering with the right

Average HELOC and Home Equity Loan Rates for Week of June 29, 2022

Average HELOC and Home Equity Loan Rates for Week of June 29, 2022

Editorial Independence We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. After a dramatic month of rate movement and economic news, home

COLT Mortgage Loan Trust floats 3.3 million in MBS

COLT Mortgage Loan Trust floats $423.3 million in MBS

COLT 2022-6 Mortgage Loan Trust is preparing to issue $423.3 million in mortgage-backed securities (MBS), or certificates, in a deal secured by a pool of 1,017 nonprime loans. The transaction will have to overcome several potentially negative credit drivers, according to Fitch Ratings. For one, home price values in the current pool are 9.7% below