“If I had a dollar for every girl that found me unattractive, they would eventually find me attractive.” New York Community Bancorp, buyer of Flagstar (2022) and Signature Bank (2023), wishes it had a few more dollars: it announced a shock earnings release and 70 percent dividend cut in response to a steep increase in credit provisions. Its share price has plummeted over the past week out of fear that round two of the banking crisis from last year might be approaching. Yes, NYCB owns Flagstar Bank, a long-time staple in the residential lending biz. NYCB added to reserves and cut its dividend as assets crossed the $100B threshold, while commercial real estate concerns compounded investor worries. Investors, analysts, and the rating agencies will be piling on. Today’s Commentary podcast can be found here and this week’s is sponsored by Vesta, the new, modern Loan Origination System (LOS) which helps lenders reduce their costs to originate and improve their ability to integrate with new technologies in the ecosystem. Hear part one of an interview with Curinos’ John Sayre on Q4 origination trends and statistics. Lender and Broker Software, Products, and Services “This February, your automation strategy needs love too. If you’re looking to problem-solve disjointed underwriting processes, we have the perfect resource for you. Tune into ICE Mortgage Technology’s recent webinar to hear new perspectives from some of the industry’s top automation experts that will inspire you to turn ideas into actionable plans. Watch now for their top tips on leveraging automated underwriting, including where to start, what to prioritize and how to gain buy-in with your team.”