article thumbnail

Construction worker shortage has reached “crisis” levels

Housing Wire

Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed. So outreach for training construction workers should start when people are considering career paths, as early as grade school, Brady said. It takes time to gain expertise in the sector.

article thumbnail

Interfirst to lay off 140 employees

Housing Wire

In 2012, the historically low interest rates led to a boom in refinances, and the lender grew to $14.5 Interfirst boasted of its ability to train people with no background in mortgage through a rigorous training course. Presented by: Acra Lending.

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, the phoenix of mortgage, lays off hundreds

Housing Wire

In 2012, Dmitry Godin was seemingly on top of the world. The historically low interest rates that led to a boom in refinances in 2012 had ended, and Interfirst struggled to maintain volumes in following years as the market turned to purchase. Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5

Mortgage 351
article thumbnail

More than ever, lender profitability requires maintaining pace with innovation

Housing Wire

The blue bar is compensation cost since 2012. Note that the compensation cost starts at a low of 64% of total origination cost in 2012 to 69% in 2021. Interestingly, technology spend as a portion of total origination cost was about 2% in 2012, and its about 2% in 2021. It doesn’t have to be that way.

article thumbnail

Amy Wallick Sworn in by Massachusetts Association of REALTORS® as 2024 President

Lamacchia Realty

To learn more about Amy, click HERE Her history of service includes: STATE ASSOCIATION MAR EXECUTIVE COMMITTEE: 2016, 2017, 2018, 2020, 2021, 2022 MAR DIRECTOR AT LARGE: 2018, 2019, 2020 NORTHERN REGION VICE PRESIDENT: 2016, 2017, 2022 MAR GOVERNMENT AFFAIRS COMMITTEE: 2018 (Vice Chair), 2019 & 2020 (Chair), 2021 MAR FINANCE COMMITTEE: 2020, 2022 (..)

article thumbnail

Savvy real estate agents look beyond ChatGPT

Housing Wire

The history of AI and where it is going The Turing Test was developed by Alan Turing in 1950. It re-emerged in the AI scene in October 2012. A functioning neural network was viewed as the pathway to develop AI capable of learning anything a human could, and perhaps becoming more intelligent than humans. What is next?

article thumbnail

With mortgage rates on the rise, here are some products originators should tap into

Housing Wire

For lenders unfamiliar with reverse mortgage products, RMF makes it easy to get into the business with its technology platform, training, marketing assistance and industry-leading support. That is why we offer private and group training sessions and a library of on-demand instructional videos.

Mortgage 364