Remove 2001 Remove Investors Remove Lending Remove Loan Officers
article thumbnail

Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

Tennessee-based mortgage lender Guaranty Home Mortgage Corporation hired Andy Voyles as executive vice president and director of retail lending. After being sold to frequent bank investor Gaylon Lawrence in January 2019, the business name changed to Guaranty Home Mortgage Corporation. After posting production volume of $148.76

Retail 344
article thumbnail

Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. It’s a different approach to lending.

Mortgage 334
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Interfirst Mortgage raises $175 million

Housing Wire

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

Mortgage 282
article thumbnail

Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

will lay off 77 employees in its Charlotte, North Carolina office come January 2022, a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company reveals. Among those getting a pink slip are 49 loan officers, 10 national account managers, seven retail sales managers and seven transaction coordinators.

Mortgage 353
article thumbnail

Some mortgage companies expanding despite challenges

Housing Wire

The company estimates there are about 3 million “aged properties” in the Chicago area alone, with almost 88% of them built before 2001. New Western calls itself “the largest private source of investment properties in the country,” connecting more than 100,000 local investors looking to rehab houses with sellers.

Mortgage 382
article thumbnail

Nonbank lender job cuts could shorten the market downturn

Housing Wire

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In

Marketing 330
article thumbnail

Opinion: Solutions to restore housing as an economic growth engine

Housing Wire

But that engine could stall if action isn’t taken to increase the supply of affordable housing and expand opportunities for lending to underserved families. in 2001 to 44.8% Competition favors institutional investors and households with higher incomes and stellar credit. Committing non-bank lending institutions.

Insurance 366