Housing Wire

NOVEMBER 10, 2022

Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . The transaction, confirmed by the companies, is a step to boost Movement’s presence on the East Coast amid shrinking loan origination volumes. Mortgage Network funded $2.5

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. Defendants include Heather Frye and Josh Covett, two market leaders who also transitioned to Summit. Shelton declined to comment.

Loan Officers 310

Loan Officers Legal Retail Finance 310

Housing Wire

AUGUST 23, 2023

Bad news for mortgage professionals: not only are mortgage rates at their highest level in over two decades, they might not drop anytime soon. On Wednesday morning, the 30-year fixed mortgage rate was 7.29% at HousingWire’s Mortgage Rates Center and 7.49% on Mortgage News Daily. When asked why U.S.

Mortgage 356

Mortgage Loan Officers Inventory Housing Market 356

Housing Wire

JUNE 5, 2023

HousingWire recently spoke with Desmond Smith , chief growth officer at United Wholesale Mortgage , about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker. HW: How is broker market share trending?

Mortgage 342

Mortgage Retail Lending Loan Officers 342

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance. The higher-rate landscape is affecting all mortgage companies.

Mortgage 438

Mortgage Supply Chain Retail Loan Officers 438

Housing Wire

MAY 7, 2023

We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell. Mortgage rates fell last week as we started the week at 6.73%, got as low as 6.43% to end the week at 6.5%. didn’t go into recession until 2008. This line has been truly epic.

Inventory 482

Inventory Housing Market Marketing New Listings 482

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

Housing Market 414

Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

AUGUST 7, 2020

In today’s low-rate environment, wholesale mortgage lending continues to grow, making up more than 20% market share. Three independent wholesale brokers discuss how they found success in the wholesale channel during a HousingWire webinar on Thursday titled: ”Taking the Mortgage Boom to the Next Level.”.

Retail 364

Retail Mortgage Loan Officers Marketing 364

Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

Marketing 330

Marketing Loan Officers Business Mortgage 330

Housing Wire

OCTOBER 27, 2022

Everyone knows that the current market is a challenging environment for housing professionals, as high rates mean fewer originations and even less refi business. But according to Shant Banosian, Guaranteed Rate’s top-ranked loan officer, now is the time for LOs to show up and work hard. “In Focus on the controllables.

Loan Officers 372

Loan Officers Clients Mortgage Marketing 372

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. Rates averaged 2.98% this time last year. “As

Mortgage 358

Mortgage Loan Officers Lending Business 358

Housing Wire

MARCH 15, 2023

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. SVB’s mortgage origination volume reached $2.4

Mortgage 324

Mortgage Loan Officers Insurance Business 324

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. About 1,820 homes were sold in the city in January alone, a 7.2%

Mortgage 382

Mortgage Construction Lending Real Estate 382

Housing Wire

JUNE 15, 2022

Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve , mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10. For the week that ended June 3, mortgage applications fell 6.5% from 11.3%

Mortgage 296

Mortgage Loan Officers Brokerage Inventory 296

Housing Wire

JUNE 27, 2022

Like many loan officers, Dicker was working nights and weekends, banging out refinancings and purchase mortgages at record-low rates for clients. About 40% of his business came from refis in the summer of 2021 even when his focus was on purchase mortgages his entire career. But the boom times are over, and he knows it.

Housing Market 400

Housing Market Marketing Brokerage Real Estate 400

Housing Wire

JULY 22, 2022

Live Oak Bancshares and its subsidiary Live Oak Bank have appointed Casey Crawford, the co-founder and chief executive officer of Movement Mortgage , to its board of directors. Founded in 2008, Live Oak Bank has a digital, cloud-based bank serving small business owners in all 50 states.

Loan Officers 349

Loan Officers Retail Lending Mortgage 349

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. . Stricter regulations, new guidelines.

Mortgage 349

Mortgage Bracketing Loan Officers Investors 349

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems.

Loan Officers 374

Loan Officers Real Estate Agent Real Estate Finance 374

Housing Wire

MAY 26, 2022

At least two financial institutions brought back adjustable-rate mortgage (ARM) products this week amid surging mortgage rates and double-digit home price growth. Michigan-based wholesale lender Homepoint rolled out a jumbo ARM product offering a maximum loan amount as much as $2.5 Applications for ARMs rose 10.8%

Loan Officers 383

Loan Officers Housing Market Mortgage Buyers 383

Housing Wire

AUGUST 25, 2022

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. Among 11 publicly traded nonbank mortgage lenders, the loss represented the third-worst financial performance in the second quarter, according to a HousingWire analysis.

Mortgage 384

Mortgage Loan Officers Finance Investors 384

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. “I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. and is licensed in 50 states.

Loan Officers 309

Loan Officers Retail Lending Investing 309

Housing Wire

MAY 24, 2022

In the early ’80s, rates were above 18% for a fixed-rate loan. Most people paid those loans for 30 years, on time. Refinances were not marketed then like they are today, nor were they the norm for a homeowner. Back then, the real estate agent found a home and the purchaser went to their bank and got a loan.

Mortgage 423

Mortgage Real Estate Agent Business Loan Officers 423

Housing Wire

JANUARY 27, 2023

The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. Back in the 2007-2009 meltdown, we had loan officers with us at that time.

Lending 359

Lending Real Estate Agent Loan Officers Retail 359

Housing Wire

SEPTEMBER 10, 2022

NEXA Mortgage, the largest mortgage brokerage in the country, this week cut ties with the Association of Independent Mortgage Experts ( AIME ), claiming the trade group fails to address bullying and lacks proper governance. NEXA, founded in 2017 by Kortas , is a fast-growing mortgage brokerage.

Brokerage 403

Brokerage Loan Officers Retail Mortgage 403

Housing Wire

NOVEMBER 5, 2020

The National Association of Mortgage Brokers inaugurated Kimber White as its new president during the virtual NAMB National 2020 conference. White is a partner at RE Financial Service and has been an active member of the mortgage industry for more than 30 years. HousingWire: What’s the biggest challenge for mortgage brokers right now?

Mortgage 449

Mortgage Loan Officers Tools Training 449

Housing Wire

MARCH 10, 2021

In the last decade, community lenders—those credit unions, community banks, and independent mortgage banks who serve their local markets—have grown to own the market. Now, with 2021 leaning back to purchase-driven volume, they are positioned to accelerate that market dominance.

Marketing 382

Marketing Technology Lending Business 382

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis.

Lending 332

Lending Loan Officers Development Mortgage 332

Housing Wire

MARCH 1, 2021

By late spring of 2020, the loan pipeline at Princeton Mortgage was full. It wasn’t so long ago that mortgage lenders were on top of the world. By the height of the bubble, the industry’s ranks had swelled to about 500,000 workers, according to the Mortgage Bankers Association. Now, we hire for attitude and ability.”.

Mortgage 247

Mortgage Loan Officers Retail Business 247

Housing Wire

MARCH 11, 2021

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? Most answer LOs because most industry market share is still LO-driven. But let’s go deeper to see if this answer holds up for execs and LOs over full market cycles. Or are they?

Loan Officers 455

Loan Officers Clients Mortgage Lending 455

Housing Wire

NOVEMBER 22, 2022

Movement Mortgage CEO Casey Crawford and President Mike Brennan. Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift in the South Carolina-based company’s strategy. The shrinking mortgage market is the primary reason why. ” . . It added $1.5

Loan Officers 382

Loan Officers Retail Business Mortgage 382

Housing Wire

JUNE 1, 2023

Are low-FICO, first-time homebuyers better off with a conventional mortgage and reduced LLPA fees, or an FHA loan with none at all? We spoke to multiple loan officers and Washington, D.C.-based based think tank Urban Institute to hear their takes. In March, FHA Commissioner Julia Gordon made it a little cheaper.

Loan Officers 330

Loan Officers Insurance Mortgage Real Estate Agent 330

Housing Wire

MAY 13, 2022

Movement Mortgage was founded in 2008 with a mission to create a “movement of change” in the mortgage industry after one of the hardest financial episodes in American history. HW : What are some of the specific goals within Movement Mortgage to help close that gap in homeownership and how does this relate to Grab the Key?

Loan Officers 354

Loan Officers Mortgage Design Lending 354

Housing Wire

OCTOBER 29, 2021

This week’s HW+ spotlight features Mark Jones, co-founder and CEO at Amerifirst Home Mortgage. Jones was also recently installed as vice chairman of the Mortgage Bankers Association for the 2022 membership year. Mark Jones: The 2008 financial crisis. The other theme is housing affordability.

Loan Officers 284

Loan Officers Insurance Business Finance 284

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. Reina Ramos: I don’t have a favorite article but rather enjoy and appreciate the coverage HW provides on all subject matters that are affecting the mortgage industry as well as Realtors.

Inventory 382

Inventory Loan Officers Clients Mortgage 382

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. Others have expressed concerns that we are headed for a housing crash, like in 2008. THE RISE IN HOME PRICES IN THE YEARS LEADING TO 2008. My slowest years were the years leading up to 2008.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Housing Wire

SEPTEMBER 28, 2023

JA: I was going back through some old PRMG stuff and they had “the five tenets of mortgage lending success” and it was: product, pricing, compensation, marketing, and fulfillment. Of course, if I had to go back and pick a point in time that really changed mortgage data, it was the 2008 mortgage crisis and the regulations that followed.

Technology 382

Technology Loan Officers Lending Business 382

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. We are seeing that as a profession again.

Appraisal 418

Appraisal Clients Real Estate Sellers 418