List Rent-a-bank Partner Banks

List of some partner banks for fintech companies 

• (also known as rent-a-bank or sponsor banks):
• Cross River Bank 

• Sutton Bank 

• The Bancorp Bank

• FDIC Corporate Resolutions Group 

• Metropolitan Bank 

• New York Community Bank 

• First Citizens Bank 

• Regions Bank

• Truist Bank 

• PNC Bank
• Lineage Bank

·        Citi

A banking partner for institutions with cross-border needs and a global pioneer in wealth management

·        Brex

Program banks include Axos Bank, East West Bank, Hinsdale Bank & Trust Company, Lake Forest Bank & Trust Company, LendingClub Bank, Merchants Bank of Indiana, and Old Plank Trail Community Bank

·        Raisin

Partner banks include Adda Bank, Axiom Bank, Border Bank, Central Bank of Kansas City, CF Bank National Association, and Citizens State Bank 

Other banking partners include:

• American Express National Bank
• Barclays Bank Delaware
• Bask Bank / Texas Capital Bank
• Capital One Financial
• CIBC Bank USA
• Goldman Sachs Bank
• Lending Club Bank 

It is important to note that this is not an exhaustive list, and there are many other banks that partner with fintech companies. The best partner bank for a particular fintech company will depend on a number of factors, such as the size and type of the company, the products and services it offers, and its regulatory requirements.

Here are some of the things to consider when choosing a partner bank:

• The bank's experience with fintech companies: Some banks have more experience working with fintech companies than others. This can be important, as fintech companies often have unique needs that traditional banks may not be familiar with.
• The bank's regulatory compliance capabilities: Fintech companies are subject to a complex and ever-changing regulatory landscape. It is important to choose a partner bank that has a strong track record of compliance and can help you navigate the regulatory environment.
• The bank's technology infrastructure: The bank's technology infrastructure should be able to support the fintech company's products and services. This includes things like the ability to integrate with the company's APIs and provide real-time data access.
• The bank's fees: The bank's fees should be competitive and transparent. It is important to understand all of the fees associated with the partnership before you enter into an agreement.
• Capital requirements for banks are being reviewed.

Banking as a Service BaaS

VA Appraisal

Can Lenders Take the Wheel? Devolving VA Appraiser Panel Management for Faster Veteran Homeownership

Homeownership remains a dream for many veterans, but navigating the VA loan process can be frustratingly slow, often due to the unique way the Veterans Administration (VA) manages its appraiser panels. Unlike conventional mortgages and other government-backed programs, lenders lack direct access to appraisers approved for VA loans, creating a bottleneck that delays closings and weakens veteran offers in competitive markets.

Proponents of change argue that devolving VA appraiser panel management to lenders could significantly speed up the process, making VA-backed offers more competitive. Here's why:

Current Challenges:

• Limited Choice: The VA directly manages a nationwide panel of appraisers, often leading to limited options in specific regions or property types. This can result in longer wait times and potentially higher fees for both veterans and lenders.
• Lack of Flexibility: Lenders lack the ability to proactively engage with appraisers familiar with their local market, potentially affecting the accuracy and efficiency of the appraisal process.
• Competitive Disadvantage: Delays associated with VA appraiser assignments can put veteran offers at a disadvantage in fast-paced markets, leading to lost opportunities.

Potential Benefits of Change:

• Increased Efficiency: By allowing lenders to manage their own VA appraiser panels, veterans could benefit from quicker turnaround times and potentially lower appraisal fees due to increased competition.
• Improved Expertise: Lenders could select appraisers with specific expertise in local market conditions and property types, potentially leading to more accurate and reliable valuations.
• Enhanced Competitiveness: Faster closings would put VA-backed offers on par with conventional offers, allowing veterans to compete more effectively in hot markets.

Addressing Concerns:

While concerns exist about maintaining quality standards and preventing conflicts of interest, these can be mitigated with proper safeguards:

• VA-approved qualifications: Appraisers on lender panels would still need to meet stringent VA requirements and undergo regular performance reviews.
• Transparency and oversight: Mechanisms could be established to ensure transparency in appraiser selection and prevent collusion between lenders and appraisers.

The Path Forward:

A collaborative effort involving the VA, lenders, and veteran advocacy groups is necessary to explore the feasibility and implementation of this reform. Pilot programs could be conducted to test the effectiveness of lender-managed appraiser panels while ensuring fair and accurate valuations.

Ultimately, empowering lenders to manage VA appraiser panels could hold the key to unlocking faster and more efficient homeownership for veterans. This potential reform deserves serious consideration to ensure veterans have every opportunity to achieve their homeownership dreams. Listing agents and sellers frown at VA offers because the appraisal takes double the turn time. This is a disservice to veterans.

Landscapes

Some landscape paintings I enjoy and then my article

Milton Avery

Sir Kyffin Williams

Sir Kyffin Williams

Andrew Winter

Edgar Alwyn Payne

KONRAD MÄGI

William Lee Hankey (1869–1952) 

William Lee Hankey 

Walter Langley

Aldro Thompson Hibbard

Aldro Thompson Hibbard

Aldro Thompson Hibbard

Costar is really trying hard to make Homes.com number one.

• Spending a ton of money on marketing: CoStar has pledged to spend $1 billion on marketing Homes.com in 2024, which includes a Super Bowl ad campaign featuring celebrities like Jeff Goldblum and Maya Rudolph.
• Leveraging their existing network: CoStar already has a large network of commercial real estate professionals, and they're using those connections to promote Homes.com to their clients.
• Improving the platform: CoStar has been investing heavily in improving the Homes.com platform, making it more user-friendly and adding new features.

It remains to be seen whether CoStar's efforts will be successful in pushing Homes.com to the number one spot. But they're certainly making a big splash. Superbowl ads- how much do they cost?

Opens in a new window

www.justjared.com

Jeff Goldblum in Homes.com advertisement

Here are some of the challenges Homes.com faces:

• Competition: The residential real estate portal market is already crowded, with established players like Zillow, Realtor.com, and Redfin.
• Brand awareness: Homes.com is still a relatively unknown brand compared to its competitors.
• Consumer trust: Building trust with consumers takes time, and Homes.com will need to overcome the perception that it's just a marketing tool for CoStar.

Overall, it will be interesting to see how Homes.com fares in the competitive residential real estate portal market. CoStar is certainly putting a lot of muscle behind it, but it remains to be seen whether that will be enough to overcome the challenges it faces.

Checklist to Shop For a Lender

Okay Valentines so You are shopping for a Lender

What are the pieces of information to compare?

A CHECKLIST FOR YOU

FICO NEEDED

RATE AND APR

HOW LONG DOES IT TAKE TO CLOSE

HOW DO YOU COMMUNICATE

WHAT PAPERWORK DO I HAVE TO GIVE

HOW MANY PAGES

HOW MANY YEARS HAVE YOU BEEN LICENSED

PDF NOT A JPEG PHOTO

WHY 

Points

Underwriting processing fee

Loan to value

Minimum loan

Down payment

Reserves

Property type

Condo requirements

Non warrantable condo

Rehab

Cash out

Vesting requirements

Borrower type

 STATES YOU ARE LICENSED

MINIMUM LOAN AMOUNT

Number units

4-8 units

 FHA Loans

USDA Loans

VA Loans

Fannie/Freddie

Prime Mortgages

Jumbo Loans

DSCR Loans

Bank Statement Loans

Foreign National/ITIN

Alt-Doc Loans

Non-QM

CDFI

Rental Loans

Hard Money

Due in X

Prepayment penalty

Buy out of prepay

Fix & Flip

Bridge Loans

P&L Loans

Nonprime